MAC - NYSE

The Macerich Company

MAC·NYSE

$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).

Statements Value Model

At a Glance

Live Snapshot

Market Cap$6.47B

EPS-0.7700

P/E Ratio-29.65

Earnings Date08/10/2026

321.60M

Operating Cash Flow

13%

3Y-5.0%

5Y+158.0%

10Y-23.0%

-325.34M

Investing Cash Flow

-1744%

3Y+23105.0%

5Y+60.0%

10Y-172.0%

199.22M

Financing Cash Flow

-163%

3Y-162.0%

5Y-55.0%

10Y-123.0%

The Macerich Company Cash Conversion Engine

MAC · NYSE

FCF Components

Net Income-197.15M

Depreciation & Amortization357.08M

Stock-Based Compensation0.00

Change in Working Capital-10.16M

Others171.83M

Capital Expenditures0.00

Free Cash Flow321.60M

Cash Flow Quality Analysis

FCF Conversion Rate

-163.1%

Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.

FCF Growth Trend

+13.5%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

-$10.16M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

The Macerich Company Cash Flow Statement

MAC • NYSE

The Macerich Company Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	-197.1M	-197.7M	-278.1M	-65.1M	16.2M	-245.5M	102.6M	69M	161.7M	554.8M	522.9M	1.6B	449M	366.4M	169.1M	28.4M	139.3M	187.4M	85.8M	254.2M
Depreciation & Amortization	357.1M	305.9M	296.4M	302.5M	324.4M	326.1M	337.7M	332.7M	341.3M	342.5M	454.8M	378.7M	376.3M	317.3M	282.6M	260.3M	277.5M	287.9M	238.6M	236.7M
Change in Deferred Taxes	0.0	-1.3M	-494K	705K	6.9M	-447K	1.6M	-3.6M	15.6M	722K	0.0	0.0	-1.7M	-4.2M	0.0	-9.2M	0.0	0.0	0.0	0.0
Stock-Based Compensation	0.0	12.1M	13.2M	17.6M	14.3M	13.8M	12M	27.4M	30.8M	33.3M	28.4M	29.5M	24.2M	12.3M	12.3M	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	171.8M	146.4M	246.2M	21.4M	-119.8M	138.7M	-119.2M	-61.2M	-122.4M	-471.1M	-471.2M	-1.6B	-421.8M	-316M	-188.1M	-34.7M	-195.8M	-198.4M	-52.1M	-242.2M
Change in Working Capital	-10.2M	18.1M	18.3M	60.4M	44.4M	-107.9M	20.5M	-19.9M	-40.5M	-42.8M	5.5M	-54.6M	-3.9M	-24.6M	-38.6M	-44.3M	-100M	-25M	53.8M	-36.9M
Cash from Operating Activities	321.6M	283.4M	295.5M	337.5M	286.4M	124.8M	355.2M	344.3M	386.4M	417.5M	540.4M	400.7M	422M	351.3M	237.3M	200.4M	120.9M	251.9M	326.1M	211.9M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-247M	-185.8M	-197.5M	-554.1M	-1B	-822.9M
Acquisitions, Net	(0.0)	-13M	-81.2M	-81.7M	-86.8M	-126.7M	-252.9M	-181.2M	-117.5M	-430.4M	-426.2M	-307.7M	-97.9M	-95.4M	(215.7M)	-25.9M	(169.2M)	(141.8M)	(222.4M)	(0.0)
Purchase of Investments	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-167.6M	-16.7M	-50.4M	-161.4M	-38.8M	-71.8M
Sale/Maturity of Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	23.8M	0.0	0.0	13.1M	1.3M	1.4M	1.4M	187.7M
Other Investing Items	-325.3M	32.8M	133.7M	80.3M	321.8M	-76.2M	140.9M	357.6M	296.5M	884.5M	325.2M	51.9M	346M	-868M	-13.1M	73.1M	379.8M	13.3M	-6.5M	580.3M
Cash from Investing Activities	-325.3M	(19.8M)	(52.5M)	-1.4M	(235M)	-202.8M	-112M	(176.3M)	(179M)	(454.1M)	-101M	-255.8M	(271.9M)	-963.4M	-212.1M	-142.2M	(302.4M)	-559M	-865.3M	-126.7M
FINANCING ACTIVITIES
Net Issuance of Common Stock	0.0	658.9M	1.2M	1.6M	831.6M	1.5M	1.5M	1.6M	-219.6M	-798.3M	-398.6M	1.2M	174.2M	179.2M	1M	1.2B	384.2M	9.3M	-73.4M	746.8M
Net Issuance of Debt	337.4M	-804.8M	-146.3M	-131M	-1.5B	628.6M	199.5M	-54.8M	201.8M	763.2M	784.7M	350.6M	-490.3M	821.6M	-50.7M	-669.7M	-858.4M	563.9M	759M	-417.6M
Cash Paid for Dividends	-173.9M	-161.3M	-159.3M	-186.3M	-143.4M	-179.9M	-474.5M	-453.6M	-443.8M	-779.3M	-810.6M	-385.7M	-355.5M	-365.7M	-296.9M	-239.9M	-95.7M	-284.9M	-270.7M	-293.5M
Share Repurchases	(0.0)	(0.0)	-583K	-183K	(0.0)	(0.0)	(0.0)	(0.0)	-221.4M	-800M	-400.1M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-75M	(0.0)
Other Financing Items	35.7M	-8.8M	-34.6M	-6.2M	-22.9M	-3.8M	-4.7M	-7.6M	-104.6M	-38.7M	-13.2M	-90.3M	-18.4M	-14.8M	-57M	-341K	173.4M	0.0	-59.9M	-6.4M
Cash from Financing Activities	199.2M	-316.1M	-338.9M	-321.9M	-837M	446.5M	-278.2M	-514.4M	-566.3M	-853.1M	-437.8M	-129.7M	-690M	610.6M	-403.6M	294.1M	-396.5M	288.3M	355.1M	29.2M
CASH FLOW SUMMARY
Net Change in Cash	195.5M	-12.8M	9.2M	14.2M	-315.7M	368.4M	-35.1M	6.2M	-892K	57.5M	1.6M	15.2M	3.9M	-1.5M	-378.4M	352.4M	26.7M	-18.7M	-184.2M	114.3M
Cash at Beginning of Period	177.5M	190.3M	181.1M	167M	482.7M	114.2M	149.3M	143.1M	144M	86.5M	84.9M	69.7M	65.8M	67.2M	445.6M	93.3M	66.5M	85.3M	269.4M	155.1M
Cash at End of Period	373M	177.5M	190.3M	181.1M	167M	482.7M	114.2M	149.3M	143.1M	144M	86.5M	84.9M	69.7M	65.8M	67.2M	445.6M	93.3M	66.5M	85.3M	269.4M
Free Cash Flow	321.6M	283.4M	295.5M	337.5M	286.4M	124.8M	355.2M	344.3M	386.4M	429.5M	555M	400.7M	422M	351.3M	-9.7M	14.6M	-76.6M	-283.3M	-717.7M	-611.1M

SEC Filings

MAC - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	June 03, 2026	June 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	June 01, 2026	June 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 13, 2026	May 13, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 07, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 06, 2026	May 06, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 22, 2026	June 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 02, 2026	March 02, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 26, 2026	February 24, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 20, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 18, 2026	February 18, 2026	2026	View Filing

Showing 1 to 10 of 468 filings

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