Mid-America Apartment - Public Comps and Valuation Multiples

Mid-America Apartment Overview

About Mid-America Apartment

Mid-America Apartment Communities Inc or MAA, is a real estate investment trust engaged in the acquisition, operation, and development of multifamily apartment communities located in the southeastern and southwestern United States. The company operates two reportable segments; Same Store includes communities that the Company has owned and have been stabilized for at least a full 12 months as of the first day of the calendar year and Non-Same Store and Other includes recently acquired communities, communities being developed or in lease-up, communities that have been disposed of or identified for disposition, communities that have experienced a casualty loss and stabilized communities that do not meet the requirements to be Same Store communities.

Founded

1993

HQ

Employees

2.5K+

Website

maac.com

Sectors

Buildings & Property

Financials

LTM Revenue $2.2B

LTM EBITDA $1.3B

EV

$20.9B

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Mid-America Apartment Financials

As of September 2025, Mid-America Apartment reported last 12-month revenue of $2.2B and EBITDA of $1.3B.

In the same period, Mid-America Apartment generated $1.4B in LTM gross profit and $503M in net income.

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Mid-America Apartment P&L

In the most recent fiscal year, Mid-America Apartment reported revenue of $2.2B and EBITDA of $1.3B.

Mid-America Apartment expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$2.2B	XXX	$2.2B	XXX	XXX	XXX
Gross Profit	$1.4B	XXX	$713M	XXX	XXX	XXX
Gross Margin	63%	XXX	33%	XXX	XXX	XXX
EBITDA	$1.3B	XXX	$1.3B	XXX	XXX	XXX
EBITDA Margin	57%	XXX	59%	XXX	XXX	XXX
EBIT	$659M	XXX	$657M	XXX	XXX	XXX
EBIT Margin	30%	XXX	30%	XXX	XXX	XXX
Net Profit	$503M	XXX	$528M	XXX	XXX	XXX
Net Margin	23%	XXX	24%	XXX	XXX	XXX
Net Debt	XXX	XXX	$4.9B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Mid-America Apartment including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $2.2B. EBITDA for the last twelve months was $1.3B. In the most recent fiscal year, Mid-America Apartment achieved $2.2B in revenue and $1.3B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$2.2B	Analyst estimates available to subscribers	$2.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.4B	Analyst estimates available to subscribers	$713M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	62.8% gross margin	Analyst estimates available to subscribers	32.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.3B	Analyst estimates available to subscribers	$1.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	57.1% EBITDA margin	Analyst estimates available to subscribers	59.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$659M	Analyst estimates available to subscribers	$657M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	29.9% EBIT margin	Analyst estimates available to subscribers	30.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$503M	Analyst estimates available to subscribers	$528M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	22.8% net profit margin	Analyst estimates available to subscribers	24.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$4.9B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Mid-America Apartment

This financial data table provides comprehensive performance metrics for Mid-America Apartment, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Mid-America Apartment generated $2.2B in revenue over the last twelve months.
The company achieved $1.3B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.4B.
Net income over the last twelve months reached $503M.

Fiscal Year Performance

In the most recent fiscal year, Mid-America Apartment reported $2.2B in total revenue.
Fiscal year EBITDA was $1.3B.
The company maintained a gross profit margin of 32.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 59.3%.
Net profit margin reached 24.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Mid-America Apartment. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Mid-America Apartment Stock Performance

Mid-America Apartment has current market cap of $16.0B, and EV of $20.9B.

Market Cap Evolution

Mid-America Apartment Stock Data

As of October 3, 2025, Mid-America Apartment's stock price is $136.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$20.9B	$16.0B	XXX	XXX	XXX	XXX	$4.32

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Mid-America Apartment Valuation Multiples

Mid-America Apartment's trades at 9.6x EV/Revenue multiple, and 16.1x EV/EBITDA.

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Mid-America Apartment Financial Valuation Multiples

As of October 3, 2025, Mid-America Apartment has market cap of $16.0B and EV of $20.9B.

Equity research analysts estimate Mid-America Apartment's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Mid-America Apartment has a P/E ratio of 31.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$16.0B	XXX	$16.0B	XXX	XXX	XXX
EV (current)	$20.9B	XXX	$20.9B	XXX	XXX	XXX
EV/Revenue	9.5x	XXX	9.6x	XXX	XXX	XXX
EV/EBITDA	16.6x	XXX	16.1x	XXX	XXX	XXX
EV/EBIT	31.8x	XXX	31.9x	XXX	XXX	XXX
EV/Gross Profit	15.1x	XXX	n/a	XXX	XXX	XXX
P/E	31.7x	XXX	30.2x	XXX	XXX	XXX
EV/FCF	n/a	XXX	27.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Mid-America Apartment Margins & Growth Rates

Mid-America Apartment's last 12 month revenue growth is 3%

Mid-America Apartment's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $22K for the same period.

Mid-America Apartment's rule of 40 is 63% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Mid-America Apartment's rule of X is 64% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Mid-America Apartment Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	2%	XXX	XXX	XXX
EBITDA Margin	57%	XXX	59%	XXX	XXX	XXX
EBITDA Growth	2%	XXX	-1%	XXX	XXX	XXX
Rule of 40	63%	XXX	62%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	64%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$22K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	3%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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