MAC - NYSE

The Macerich Company

The Macerich Company

MACยทNYSE

$22.83

+2.3%
Real EstateREIT - Retail

Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 - 2019).

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$6.47B
EPS-0.7700
P/E Ratio-29.65
Earnings Date08/10/2026
The Macerich Company

The Macerich Company Fair Value Envelope

MAC ยท NYSE

Our analysis suggests that MAC has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $22.83, this represents a potential HIDDEN relative to our calculated worth for The Macerich Company.

HIDDEN
Intrinsic Value
Current Price: $22.83

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$13.2B
+ Cash & Equivalents$43.0M
Firm Value$13.3B
- Debt$5.2B
Equity Value$8.1B
/ Shares Outstanding256,118,084B
DCF Value$31
UNDERVALUED BY 38%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$364.9M
$414.0M
$469.8M
$533.0M
$604.8M
$686.2M
$778.6M
$883.4M
$1.0B
$1.1B
Maintenance CapEx
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
Owner Earnings
$364.9M
$414.0M
$469.8M
$533.0M
$604.8M
$686.2M
$778.6M
$883.4M
$1.0B
$1.1B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$337.9M
$355.0M
$372.9M
$391.8M
$411.6M
$432.4M
$454.3M
$477.3M
$501.4M
$526.8M
Terminal Value represents 67.8% of Enterprise Value

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