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  5. Income Statement
Mid-America Apartment Communities logo
Mid-America Apartment Communities MAA
$ 118.76 -0.54%
report update icon

Quarterly report 2025-Q4
added 10-29-2026

Mid-America Apartment Communities Income Statement 2025-2007 | MAA

Brief overview of profit and loss at Mid-America Apartment Communities

The conclusions below are based on five years of reported results. Revenue reported by Mid-America Apartment Communities was 1.7 billion dollars at the beginning of the period and 2.2 billion dollars at the end. Overall revenue changed by +31.7%, equal to an annualized rate of about 5.7%. Sales increased steadily, although without strong acceleration.

The operating result measured by EBITDA moved from $512 million to $623 million, or +21.8%. There was no major divergence between EBITDA and revenue. EBITDA margin was 30.5% at the start and 28.2% at the end. The margin contraction indicates weaker operating efficiency.

Net profit was 255 million dollars at the start and 447 million dollars at the end. Profit outpaced sales and strengthened the quality of growth.

Market value was $13.8 billion at the start and $15.4 billion at the end. The valuation did not keep pace with the reported progress.

Conclusion

Positive developments coexist with areas of weakness. Key strengths include net-income growth and revenue expansion. Caution is warranted because of pressure on operating profitability. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.

Annual Income Statement Mid-America Apartment Communities

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

Market Cap

 15.4 B 18.5 B 14.4 B 19.7 B 26.1 B 13.8 B 15.7 B 11.8 B 10.5 B 7.44 B 7.05 B 5.95 B 4.78 B 2.71 B 2.35 B 1.7 B 1.05 B 1.51 B -

Shares

 117 M 117 M 117 M 115 M 115 M 114 M 114 M 114 M 113 M 78.5 M 75.2 M 75 M 74.8 M 41 M 37 M 31.9 M 28.3 M 26.9 M -

Historical Prices

 132 159 124 171 227 121 122 85.2 86.3 81.1 72.7 56.7 44.2 45.2 41.9 53.4 37.2 56 58.8

Net Income

 447 M 528 M 553 M 637 M 534 M 255 M 354 M 223 M 328 M 212 M 332 M 148 M 115 M 105 M 48.8 M 19 M 37.2 M 30.2 M -

Revenue

 2.21 B 2.19 B 2.15 B 2.02 B 1.78 B 1.68 B 1.64 B 1.57 B 1.53 B 1.13 B 1.04 B 989 M 635 M 497 M 449 M 337 M 374 M 370 M -

Cost of Revenue

 - - - - - - - - - - - - - 57.2 M 51.7 M 42.4 M 47 M 46.1 M -

Gross Profit

 - - - - - - 476 M 439 M 415 M 345 M 317 M 263 M 171 M 146 M 257 M 295 M 327 M 324 M -

Operating Income

 - - - - - - - - - - - - - 130 M 95.2 M 73.1 M 92.2 M 95.9 M -

Interest Expense

 185 M 169 M 149 M 155 M 157 M 168 M 180 M 174 M 155 M - - - - 52.2 M 51.2 M 53.8 M 57 M 62 M -

EBITDA

 623 M 586 M 566 M 544 M 534 M 512 M 927 M 894 M 868 M 639 M 585 M 544 M 343 M 258 M 219 M 170 M 191 M 189 M -

Operating Expenses

 838 M 820 M 768 M 724 M - - 46.1 M 34.8 M 40.2 M 29 M 25.7 M 20.9 M 15.6 M 13.8 M 154 M 221 M 235 M 228 M -

General and Administrative Expenses

 54.8 M 56.5 M 58.6 M 58.8 M 52.9 M 46.9 M 101 M 82.4 M 83.8 M 63.1 M 56.7 M 53 M 38.7 M 35.8 M - 11.2 M 11.3 M 11.8 M -

All numbers in USD currency

Quarterly Income Statement Mid-America Apartment Communities

2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2

Shares

 117 M 117 M 117 M 117 M 117 M 117 M 117 M 117 M 117 M 117 M 117 M 117 M 116 M 115 M 115 M 115 M 115 M 115 M 115 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 114 M 75.5 M 75.5 M 75.5 M 75.4 M 75.4 M 75.4 M 75.3 M 75.3 M 75.2 M 75.2 M 75 M 74.8 M 42.7 M 42.7 M 42.4 M 405 K 41.4 M 41 M 39.5 M 383 K 37.3 M 36.8 M 35.7 M 817 K 33.3 M 30.6 M

Net Income

 124 M - 99.5 M 108 M 182 M - 115 M 102 M 144 M - 111 M 146 M 136 M - 122 M 211 M 111 M - 84.5 M 216 M 47.2 M - 59.9 M 75.1 M 36.6 M - 78.6 M 61.9 M 63.7 M - 52.8 M 59.8 M - - - - - - - - - - - - - - - - 14.9 M - 44.3 M 59.1 M 21.2 M 22.3 M 30.9 M 28.2 M 23.9 M 18.8 M 13.8 M 7.43 M 8.84 M 6.94 M 3.54 M 1.38 M

Revenue

 554 M - 554 M 550 M 549 M - 551 M 546 M 544 M - 542 M 535 M 529 M - 521 M 495 M 476 M - 453 M 437 M 425 M - 423 M 413 M 418 M - 416 M 407 M 401 M - 397 M 390 M - - - - - - - - - - - - - - - - 243 M - 136 M 134 M 128 M 131 M 123 M 119 M 116 M 113 M 111 M 105 M 102 M 103 M 100 M 97.8 M

Cost of Revenue

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 15.1 M 14.7 M 14.7 M 16.2 M 14.2 M 13.6 M 13.9 M 13.3 M 13.4 M 13.1 M 12.8 M 9.97 M 13 M 12.6 M

Gross Profit

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 121 M 119 M 113 M 115 M 109 M 105 M 102 M 99.8 M 97.3 M 92.3 M 88.9 M 93.5 M 87.4 M 85.2 M

Operating Income

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32.5 M 32.6 M 38.6 M 37.3 M 30.6 M 30.1 M 30 M 26.2 M 24.8 M 21.6 M 22.6 M 22.1 M 21 M 23 M

Interest Expense

 51.4 M - 46.3 M 45.1 M 45.2 M - 42.7 M 41.3 M 40.4 M - 36.7 M 36.7 M 37.3 M - 38.6 M 38.9 M 39.1 M - 39.2 M 38.9 M 39.7 M - 41 M 42.1 M 43.5 M - 44.5 M 45.9 M 45.7 M - 44.6 M 43.6 M - - - - - - - - - - - - - - - - - - 14.9 M 15.3 M 15.7 M 15.8 M 14.5 M 14.1 M 14.1 M 14.7 M 15.2 M 13.8 M 13.7 M 14.5 M 13.6 M 14 M

EBITDA

 - - 463 M - - - - - - - - - - - 137 M 134 M 134 M - 399 M 132 M 132 M - 382 M 254 M 127 M - 372 M 247 M 123 M - 369 M 245 M - - - - - - - - - - - - - - - - 90 M - 65.5 M 65.3 M 70.8 M 73.7 M 61.6 M 60.4 M 59.7 M 58 M 52.8 M 49.6 M 50.3 M 48.7 M 47.5 M 47.8 M

Operating Expenses

 206 M - 216 M 215 M 201 M - - 206 M 198 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 88.8 M 86.8 M 74.7 M 77.9 M 78.4 M 75.3 M 72.4 M 73.6 M 72.5 M 70.7 M 66.3 M 71.3 M 66.3 M 62.3 M

General and Administrative Expenses

 16.7 M - 12.5 M 12.8 M 15.6 M - 12.7 M 12.7 M 17 M - 13.5 M 13.9 M 15.9 M - 12.2 M 15.6 M 16.3 M - 12.7 M 13.1 M 13 M - 11.4 M 10.6 M 13.3 M - 10.2 M 10.4 M 12.3 M - 6.38 M 9.21 M - - - - - - - - - - - - - - - - 4.34 M - 3.98 M 3.39 M 3.24 M 3.33 M 3.53 M 3.46 M 3.45 M 4.08 M 4 M 5.44 M 4.61 M 3.48 M 2.96 M 3.11 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Mid-America Apartment Communities (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

Reports on the profits and losses of other stocks in the Reit residential industry

Issuer Price % 24h Market Cap Country
Preferred Apartment Communities Preferred Apartment Communities
APTS
 		- 0.24 % $ 1.61 B usaUSA
UDR UDR
UDR
 		$ 36.66 -0.14 % $ 12.1 B usaUSA
UMH Properties UMH Properties
UMH
 		$ 14.9 1.09 % $ 1.25 B usaUSA
Bluerock Residential Growth REIT Bluerock Residential Growth REIT
BRG
 		- -0.49 % $ 813 M usaUSA
American Homes 4 Rent American Homes 4 Rent
AMH
 		$ 32.78 -0.38 % $ 12.1 B usaUSA
Sun Communities Sun Communities
SUI
 		$ 118.98 -1.12 % $ 14.9 B usaUSA
American Campus Communities American Campus Communities
ACC
 		- 0.01 % $ 9.11 B usaUSA
AvalonBay Communities AvalonBay Communities
AVB
 		$ 184.06 0.08 % $ 26.1 B usaUSA
Invitation Homes Invitation Homes
INVH
 		$ 27.09 -0.42 % $ 16.6 B usaUSA
BRT Apartments Corp. BRT Apartments Corp.
BRT
 		$ 12.8 -0.93 % $ 231 M usaUSA
Equity LifeStyle Properties Equity LifeStyle Properties
ELS
 		$ 62.65 -0.21 % $ 12 B usaUSA
Apartment Investment and Management Company Apartment Investment and Management Company
AIV
 		$ 1.58 2.94 % $ 219 M usaUSA
Equity Residential Equity Residential
EQR
 		$ 63.66 0.02 % $ 24.2 B usaUSA