Income Statement

Revenue

+9%

+32%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	54	53	52	48	51	49	48	45	48	49	51	51	54	56	59	58	62	64	64	62	66	66	66	64	66	66	65	58	62	62	61	57	59	59	58	56	59	58	60	59	61	61	61	61	63	64	65	79	95	110	123	124	123	122	123	122	124	125	127	130	134	141	149	155	159	164	169	174	178	181	181	180	178	174	170	168	164	161	159	157	156	156	156	155	153	151	149	149	152	157	163	169	173	177	181	185
Revenue	229 N/A	228 0%	231 +1%	229 -1%	236 +3%	235 -1%	235 +0%	237 +1%	244 +3%	254 +4%	262 +3%	266 +2%	273 +3%	280 +2%	287 +3%	294 +2%	303 +3%	310 +2%	317 +2%	318 +0%	331 +4%	335 +1%	342 +2%	346 +1%	353 +2%	361 +2%	366 +1%	349 -5%	373 +7%	376 +1%	377 +0%	337 -11%	382 +13%	386 +1%	390 +1%	360 -8%	405 +13%	409 +1%	421 +3%	410 -3%	444 +8%	454 +2%	466 +3%	476 +2%	488 +2%	506 +4%	518 +2%	636 +23%	752 +18%	865 +15%	980 +13%	992 +1%	1 007 +1%	1 020 +1%	1 033 +1%	1 043 +1%	1 053 +1%	1 067 +1%	1 081 +1%	1 125 +4%	1 235 +10%	1 346 +9%	1 454 +8%	1 529 +5%	1 536 +0%	1 543 +0%	1 556 +1%	1 571 +1%	1 587 +1%	1 604 +1%	1 622 +1%	1 641 +1%	1 658 +1%	1 664 +0%	1 671 +0%	1 678 +0%	1 685 +0%	1 709 +1%	1 738 +2%	1 778 +2%	1 829 +3%	1 887 +3%	1 956 +4%	2 020 +3%	2 073 +3%	2 113 +2%	2 134 +1%	2 148 +1%	2 163 +1%	2 174 +1%	2 183 +0%	2 191 +0%	2 197 +0%	2 200 +0%	2 203 +0%	2 209 +0%
Gross Profit
Cost of Revenue	(71)	(72)	(74)	(65)	(72)	(72)	(73)	(71)	(83)	(86)	(89)	(81)	(98)	(97)	(132)	(88)	(136)	(138)	(104)	(93)	(98)	(101)	(145)	(141)	(161)	(162)	(121)	(145)	(113)	(117)	(123)	(169)	(132)	(134)	(174)	(185)	(193)	(195)	(201)	(145)	(207)	(210)	(174)	(161)	(163)	(167)	(170)	(208)	(246)	(285)	(321)	(324)	(328)	(327)	(328)	(329)	(330)	(333)	(338)	(351)	(385)	(422)	(458)	(620)	(555)	(593)	(635)	(642)	(648)	(656)	(663)	(668)	(672)	(674)	(683)	(693)	(700)	(714)	(718)	(727)	(738)	(752)	(773)	(789)	(804)	(817)	(825)	(836)	(853)	(866)	(879)	(892)	(896)	(905)	(911)	(913)
Gross Profit	158 N/A	156 -1%	157 +0%	164 +4%	164 +0%	163 -1%	162 -1%	166 +3%	162 -2%	168 +4%	173 +3%	186 +7%	175 -5%	183 +5%	155 -15%	206 +33%	166 -19%	172 +3%	213 +24%	225 +6%	233 +4%	234 +1%	198 -16%	204 +3%	193 -6%	199 +3%	245 +23%	204 -17%	261 +28%	259 -1%	254 -2%	168 -34%	251 +49%	252 +0%	216 -14%	175 -19%	211 +21%	214 +1%	221 +3%	265 +20%	237 -11%	244 +3%	293 +20%	315 +8%	325 +3%	339 +4%	348 +3%	427 +23%	505 +18%	580 +15%	658 +13%	669 +2%	679 +2%	693 +2%	705 +2%	714 +1%	723 +1%	733 +1%	744 +1%	775 +4%	850 +10%	924 +9%	995 +8%	909 -9%	981 +8%	950 -3%	921 -3%	929 +1%	938 +1%	948 +1%	959 +1%	973 +1%	986 +1%	990 +0%	988 0%	985 0%	985 0%	995 +1%	1 020 +3%	1 051 +3%	1 092 +4%	1 135 +4%	1 182 +4%	1 231 +4%	1 269 +3%	1 296 +2%	1 309 +1%	1 313 +0%	1 310 0%	1 309 0%	1 305 0%	1 299 0%	1 300 +0%	1 295 0%	1 293 0%	1 297 +0%
Operating Income
Operating Expenses	(84)	(85)	(86)	(95)	(95)	(95)	(96)	(101)	(98)	(103)	(107)	(119)	(107)	(112)	(82)	(131)	(87)	(89)	(128)	(140)	(147)	(149)	(109)	(113)	(98)	(102)	(148)	(113)	(164)	(162)	(159)	(86)	(158)	(160)	(124)	(94)	(120)	(123)	(126)	(173)	(132)	(133)	(175)	(189)	(192)	(196)	(199)	(271)	(341)	(391)	(442)	(424)	(410)	(417)	(420)	(423)	(425)	(427)	(432)	(459)	(528)	(590)	(641)	(534)	(592)	(554)	(523)	(525)	(530)	(532)	(537)	(543)	(547)	(550)	(553)	(558)	(563)	(570)	(578)	(586)	(592)	(597)	(598)	(602)	(606)	(609)	(621)	(624)	(629)	(634)	(633)	(642)	(650)	(659)	(668)	(677)
Selling, General & Administrative	(31)	(31)	(32)	(32)	(39)	(40)	(40)	(35)	(37)	(39)	(40)	(41)	(34)	(34)	(10)	(46)	(12)	(13)	(40)	(49)	(50)	(51)	(20)	0	(12)	(14)	(47)	0	(58)	(58)	(58)	0	(60)	(61)	(24)	0	(15)	(17)	(18)	(67)	(18)	(17)	(56)	(68)	(68)	(69)	(71)	(84)	(96)	(109)	(123)	(123)	(126)	(128)	(127)	(129)	(128)	(129)	(130)	(136)	(150)	(162)	(172)	(40)	(108)	(73)	(35)	(35)	(38)	(39)	(44)	(46)	(46)	(46)	(46)	(47)	(47)	(49)	(51)	(53)	(56)	(59)	(58)	(59)	(58)	(57)	(58)	(59)	(60)	(58)	(58)	(57)	(55)	(55)	(55)	(55)
Depreciation & Amortization	(53)	(53)	(54)	(54)	(56)	(56)	(56)	(58)	(61)	(65)	(67)	(68)	(70)	(71)	(73)	(74)	(75)	(76)	(77)	(78)	(82)	(83)	(85)	(84)	(86)	(87)	(88)	(85)	(92)	(94)	(95)	(86)	(97)	(98)	(101)	(94)	(105)	(106)	(109)	(106)	(114)	(117)	(120)	(121)	(124)	(127)	(129)	(187)	(245)	(282)	(320)	(302)	(285)	(290)	(293)	(295)	(297)	(298)	(302)	(323)	(378)	(429)	(469)	(494)	(484)	(481)	(488)	(490)	(492)	(493)	(493)	(497)	(500)	(504)	(507)	(511)	(516)	(521)	(528)	(533)	(536)	(538)	(540)	(543)	(548)	(553)	(562)	(565)	(570)	(576)	(576)	(586)	(595)	(603)	(613)	(622)
Other Operating Expenses	0	0	0	(9)	0	0	0	(8)	0	0	0	(10)	(3)	(7)	0	(11)	0	(0)	(11)	(13)	(15)	(16)	(4)	(29)	(0)	(1)	(13)	(29)	(15)	(11)	(6)	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	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	0	0	0	0	0	0	0	0	0
Operating Income	74 N/A	72 -3%	70 -2%	68 -3%	69 +1%	67 -2%	65 -3%	64 -2%	64 -1%	64 +1%	66 +2%	66 +1%	69 +4%	71 +4%	73 +3%	75 +3%	80 +6%	82 +4%	86 +4%	85 0%	86 +1%	86 -1%	88 +3%	91 +3%	95 +4%	98 +3%	97 -1%	90 -6%	96 +6%	97 +0%	95 -1%	82 -14%	93 +13%	92 -1%	92 N/A	81 -11%	92 +13%	91 -1%	95 +4%	92 -3%	105 +14%	111 +6%	118 +6%	126 +7%	133 +6%	142 +7%	148 +4%	156 +5%	165 +5%	189 +15%	216 +14%	244 +13%	269 +10%	276 +3%	285 +3%	291 +2%	299 +3%	307 +3%	312 +2%	316 +1%	322 +2%	334 +4%	354 +6%	375 +6%	389 +4%	397 +2%	398 +0%	405 +2%	409 +1%	416 +2%	422 +1%	430 +2%	439 +2%	440 +0%	435 -1%	428 -2%	422 -1%	425 +1%	442 +4%	465 +5%	500 +8%	538 +8%	584 +8%	629 +8%	663 +5%	687 +4%	689 +0%	689 +0%	681 -1%	675 -1%	671 -1%	657 -2%	650 -1%	636 -2%	624 -2%	619 -1%
Pre-Tax Income
Interest Income Expense	(57)	(55)	(53)	(49)	(52)	(50)	(49)	(47)	(48)	(49)	(50)	(53)	(55)	(57)	(59)	(59)	(62)	(65)	(65)	(63)	(67)	(62)	(69)	(63)	(69)	(72)	(65)	(58)	(62)	(62)	(61)	(56)	(59)	(58)	(57)	(55)	(58)	(57)	(59)	(59)	(60)	(60)	(60)	(61)	(63)	(64)	(64)	(79)	(94)	(108)	(122)	(123)	(122)	(122)	(124)	(123)	(124)	(125)	(127)	(129)	(131)	(137)	(140)	(155)	(157)	(160)	(169)	(176)	(179)	(179)	(163)	(162)	(187)	(172)	(183)	(160)	(143)	(137)	(115)	(121)	(102)	(159)	(187)	(212)	(210)	(158)	(166)	(124)	(117)	(143)	(151)	(181)	(203)	(195)	(174)	(178)
Non-Reccuring Items	0	0	0	(1)	0	0	0	0	0	0	0	1	1	1	1	(0)	(1)	(1)	(1)	(1)	0	0	(0)	(0)	(0)	(0)	0	(0)	(0)	(0)	(0)	(1)	(1)	(3)	(4)	(3)	(5)	(4)	(4)	(4)	(3)	(3)	(3)	(2)	(3)	(8)	(13)	(39)	(45)	(44)	(41)	(17)	(14)	(11)	(8)	(6)	(3)	(3)	(7)	(44)	(49)	(51)	(49)	(20)	(15)	(15)	(14)	(9)	(5)	(3)	(1)	0	(1)	(3)	(5)	(4)	(6)	(3)	(15)	(14)	(5)	9	30	21	14	1	(6)	4	9	(2)	15	11	6	19	(7)	(57)
Gain/Loss on Disposition of Assets	12	12	2	0	0	0	0	0	0	0	0	3	3	7	7	3	3	0	0	(0)	6	0	6	6	0	5	(0)	(1)	(1)	(1)	(1)	(1)	(0)	(1)	(0)	(0)	(1)	(1)	(1)	1	1	1	1	(0)	(0)	0	0	0	4	7	43	43	70	172	190	190	162	58	51	83	80	80	91	127	128	130	72	5	13	11	11	93	84	83	84	1	1	136	135	221	221	219	219	216	216	83	83	(0)	(0)	(0)	(0)	55	127	127	127	72
Total Other Income	0	0	0	(2)	0	1	3	1	3	4	2	1	1	0	0	1	(0)	(0)	(0)	(2)	2	2	2	(1)	0	0	(1)	(2)	0	0	0	0	1	1	1	0	0	(0)	(1)	(1)	(1)	(0)	0	0	0	0	0	(0)	(0)	(1)	(1)	(1)	(0)	0	1	1	(0)	1	1	0	1	(1)	0	14	4	9	10	8	9	4	8	7	6	7	3	2	2	3	5	12	11	5	1	(7)	(7)	2	4	2	7	3	3	3	2	2	3	3
Pre-Tax Income	29 N/A	29 0%	20 -33%	16 -18%	17 +8%	18 +2%	19 +5%	19 +1%	20 +4%	19 -4%	17 -8%	19 +9%	19 -1%	22 +20%	23 +2%	19 -15%	20 +5%	18 -12%	20 +10%	20 N/A	26 +35%	26 -3%	26 +3%	33 +24%	27 -18%	31 +15%	31 N/A	29 -5%	33 +13%	33 +0%	33 +2%	24 -28%	33 +39%	31 -7%	31 -1%	24 -23%	29 +22%	28 -2%	31 +8%	29 -4%	41 +41%	49 +18%	55 +13%	62 +13%	67 +8%	70 +4%	72 +2%	39 -46%	29 -25%	43 +50%	95 +119%	147 +55%	202 +37%	315 +56%	344 +9%	352 +2%	333 -5%	237 -29%	229 -3%	226 -1%	224 -1%	226 +1%	256 +13%	342 +34%	349 +2%	361 +3%	297 -18%	232 -22%	247 +7%	249 +1%	277 +11%	369 +33%	341 -8%	355 +4%	335 -6%	266 -21%	277 +4%	424 +53%	451 +6%	563 +25%	625 +11%	613 -2%	647 +6%	647 0%	675 +4%	614 -9%	603 -2%	571 -5%	580 +2%	533 -8%	538 +1%	545 +1%	583 +7%	589 +1%	574 -3%	459 -20%
Net Income
Tax Provision	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	0	0	0	(1)	0	0	0	(1)	0	0	0	(1)	0	0	0	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(3)	(3)	(3)	(3)	(3)	(3)	(3)	(4)	(4)	(4)	(4)	(4)	(3)	(4)	(5)	(7)	(14)	(11)	(6)	(2)	6	4	(2)	(3)	(5)	(6)	(4)	(5)	(5)	(4)	(4)	(5)	(5)
Income from Continuing Operations	29	29	20	16	17	18	19	19	20	19	17	19	19	22	23	19	20	18	20	20	26	26	26	33	27	31	31	29	33	33	33	23	33	31	31	23	29	28	31	29	41	49	55	61	66	69	70	38	28	42	94	145	199	313	342	351	332	236	228	224	222	224	253	339	346	358	294	229	244	247	273	365	337	351	331	263	274	420	445	550	614	607	645	653	679	612	600	566	574	529	533	540	578	585	568	454
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(4)	(1)	(1)	(1)	(2)	(2)	(2)	(2)	(2)	(2)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(3)	(3)	(3)	(2)	(2)	(3)	(3)	(4)	(4)	(5)	(8)	(8)	(11)	(17)	(18)	(19)	(18)	(12)	(12)	(12)	(11)	(11)	(10)	(12)	(12)	(13)	(11)	(8)	(9)	(9)	(10)	(13)	(12)	(12)	(12)	(9)	(10)	(14)	(15)	(17)	(18)	(17)	(17)	(17)	(18)	(16)	(16)	(15)	(15)	(14)	(14)	(14)	(15)	(15)	(14)	(10)
Equity Earnings Affiliates	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3	6	6	6	3	0	0	0	0	0	0	1	1	1	1	1	2	2	2	2	2	2	2	2	2	2	2	1	1	1	1	1	1	1	2	2	2	2	2	2	2	2	2	2	2	2	2
Net Income (Common)	12 N/A	12 +2%	3 -75%	(2) N/A	(2) +5%	(2) +17%	(4) -193%	(1) +73%	(0) +75%	(0) +33%	2 N/A	10 +352%	10 -8%	13 +34%	14 +5%	5 -60%	6 +19%	4 -34%	6 +48%	7 +13%	13 +87%	16 +24%	23 +39%	26 +14%	22 -13%	22 -1%	17 -24%	17 +4%	20 +13%	21 +8%	22 +2%	24 +13%	23 -7%	17 -24%	17 +1%	18 +5%	21 +14%	27 +29%	37 +38%	71 +93%	64 -10%	85 +32%	102 +20%	105 +3%	102 -3%	133 +30%	147 +10%	115 -21%	109 -6%	81 -25%	104 +28%	148 +42%	194 +31%	299 +54%	323 +8%	332 +3%	314 -5%	223 -29%	215 -3%	211 -2%	209 -1%	211 +1%	241 +14%	324 +35%	331 +2%	343 +3%	281 -18%	219 -22%	234 +7%	236 +1%	262 +11%	350 +34%	323 -8%	336 +4%	317 -6%	251 -21%	261 +4%	403 +54%	427 +6%	530 +24%	593 +12%	587 -1%	625 +6%	633 +1%	658 +4%	594 -10%	582 -2%	549 -6%	557 +1%	513 -8%	517 +1%	524 +1%	562 +7%	568 +1%	552 -3%	443 -20%
EPS (Diluted)	0.68 N/A	0.67 -1%	0.19 -72%	-0.11 N/A	-0.1 +9%	-0.08 +20%	-0.25 -212%	-0.06 +76%	-0.01 +83%	0 N/A	0.1 N/A	0.5 +400%	0.45 -10%	0.59 +31%	0.64 +8%	0.23 -64%	0.28 +22%	0.18 -36%	0.24 +33%	0.29 +21%	0.5 +72%	0.63 +26%	0.88 +40%	1 +14%	0.86 -14%	0.81 -6%	0.6 -26%	0.64 +7%	0.69 +8%	0.74 +7%	0.78 +5%	0.85 +9%	0.77 -9%	0.55 -29%	0.53 -4%	0.52 -2%	0.55 +6%	0.68 +24%	0.98 +44%	1.82 +86%	1.53 -16%	1.89 +24%	2.35 +24%	2.44 +4%	2.32 -5%	3.07 +32%	3.43 +12%	2.16 -37%	1.45 -33%	1.07 -26%	1.38 +29%	1.96 +42%	2.57 +31%	3.92 +53%	4.29 +9%	4.41 +3%	4.15 -6%	2.77 -33%	2.85 +3%	2.68 -6%	1.77 -34%	1.9 +7%	2.11 +11%	2.85 +35%	2.93 +3%	3.02 +3%	2.48 -18%	1.93 -22%	2.06 +7%	2.07 +0%	2.29 +11%	2.96 +29%	2.81 -5%	2.93 +4%	2.76 -6%	2.19 -21%	2.29 +5%	3.45 +51%	3.72 +8%	4.61 +24%	5.12 +11%	5.1 0%	5.42 +6%	5.48 +1%	5.65 +3%	5.08 -10%	4.98 -2%	4.71 -5%	4.77 +1%	4.39 -8%	4.43 +1%	4.49 +1%	4.81 +7%	4.86 +1%	4.72 -3%	3.78 -20%

Income Statement Balance Sheet Cash Flow Statement

Mid-America Apartment Communities Inc
NYSE:MAA

Income Statement

Earnings Waterfall
Mid-America Apartment Communities Inc

Income Statement
Mid-America Apartment Communities Inc

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Mid-America Apartment Communities Inc NYSE:MAA

Income Statement

Earnings Waterfall Mid-America Apartment Communities Inc

Income Statement Mid-America Apartment Communities Inc

See Also

Company

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Mid-America Apartment Communities Inc
NYSE:MAA

Earnings Waterfall
Mid-America Apartment Communities Inc

Income Statement
Mid-America Apartment Communities Inc