Mid-America Apartment Communities, Inc.

MAANYSEReal Estate● Active

$136.79

$-0.75(-0.55%)

Market Cap$15.9B

P/E Ratio—

52W High$153.93

52W Low$120.3

Avg Volume940K

Open$137.60

Beta0.74

Free Cash Flow Financials Revenue

Mid-America Apartment Communities, Inc. (MAA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MAA · free cash flow · updated Jun 8, 2026

Core FCF metrics

MAA · FCF · TTM · margin & CAGR

Free cash flow was $717.9M for FY2025 (fiscal year ending 2025-12-31), down 7.5% year-over-year The FCF margin was 32.5%. Five-year CAGR stands at +3.7%.

FY2025 Free Cash Flow$717.9M▼ -7.5% YoY

Trailing 12M (TTM)$610.0Mtrailing 4 quarters sum

FCF Margin32.5%$717.9M ÷ revenue

3-Year CAGR-2.0%FY2022 → FY2025

5-Year CAGR+3.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MAA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.08B(360M)$717.9M▼ 7.5%32.5%

FY2024$1.10B(322M)$775.9M▼ 2.5%35.4%

FY2023$1.14B(341M)$796.0M▲ +4.4%37.0%

FY2022$1.06B(296M)$762.3M▲ +98.7%37.7%

FY2021$895.0M(511M)$383.7M▼ 35.9%21.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MAA · P/FCF · FCF yield · FCF per share

Mid-America Apartment Communities, Inc. (MAA) trades at a FCF yield of 3.81% and a price-to-free-cash-flow ratio of 26.3x. FCF per share stands at $5.21, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.81%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$5.21

TTM FCF ÷ Shares Outstanding

Price / FCF

x26.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x35.4

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MAA · cash flow statement · operating / investing / financing

For FY2025, Mid-America Apartment Communities, Inc. generated $1.08B in operating cash flow and spent 360M in capital expenditures, yielding $717.9M in free cash flow.

Operating Activities

+$1.08B

Cash from core business operations

2025-12-31

Investing Activities

−$690.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$370.7M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.08B) − |CapEx| (360M) = FCF ($717.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

MAA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Mid-America Apartment Communities, Inc.YOU

MAA

$717.9M-7.5%32.5%

14%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Mid-America Apartment Communities, Inc. (MAA) reported free cash flow of $717.9M for FY2025 (fiscal year ending 2025-12-31), down 7.5% year-over-year. The FCF margin was 32.5%.

Based on available data, Mid-America Apartment Communities, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $796.0M in FY2023. The 5-year CAGR stands at +3.7%.

Mid-America Apartment Communities, Inc.'s FCF yield is 3.81% and price-to-FCF ratio is 26.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MAA free cash flow · 8 questions

Mid-America Apartment Communities, Inc. free cash flow was $717.9M for FY2025, down 7.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $610.0M.

MAA free cash flowMAA FCFMAA FCF 2025MAA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Mid-America Apartment Communities, Inc. · Mid-America Apartment Communities, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026