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The Macerich Company (MAC) Fair Value & Analysis

Real Estate · US · Market cap $7.3B

TM The Macerich Company logo The Macerich Company MAC · US
Price$25.48
Fair Value$6.96
Upside-72.7%
Quality94/100
Evidence: High Range $5.15 – $16.87

Fair value as of: Jun 26, 2026

From 15 valuation models · updated 3 days ago

Share price +15.1% over the past month.

Price vs Fair Value (12 months)

$25.57 $15.32 Fair Value $6.96 Jun 2025 Jun 2026

12‑month range $15.32 – $25.57 · fair‑value band $5.15 – $16.87 · the $25.48 price screens above the $6.96 fair value. As of Jun 26, 2026.

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Analysis

The Macerich Company (MAC) currently trades at $25.48, while our model-based Fair Value estimate is $6.96 — implying the stock looks roughly 72.7% overvalued today. We read business quality at 94/100 (high quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, The Macerich Company generated revenue of $1.0B at a net margin of -17.9%. Revenue declined 6.7% year over year. It earns a return on equity of -7.1%. Net debt stands at $5.2B. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) $1.0B
Revenue growth (YoY) -6.7%
Net margin -17.9%
Return on equity -7.1%
Free cash flow $322M FY2025
Operating margin 9.1%
More key figures
EPS (TTM) $-0.7200
Dividend yield 3.0%
EPS growth (YoY) +3,971%
Net debt $5.2B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns approximately 41 million square feet of real estate, consisting primarily of interests in 39 retail centers. The Macerich Company was incorporated in 1964 in Maryland and is based in Santa Monica, California.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Macerich Company reported revenue of $1.0B in FY2025 versus $847M in FY2021, a compound +4.6%/yr. Reported net income was −$197M in FY2025.

Revenue +4.6%/yr
FY21 $847M
FY22 $859M
FY23 $884M
FY24 $918M
FY25 $1.0B
Net income
FY21 $14.3M
FY22 −$66.1M
FY23 −$274M
FY24 −$194M
FY25 −$197M

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Similar stocks

6 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $216.74 $127.96 -41%
Realty Income Corporation O 1,055 MXN 664.56 MXN -37%
Unibail-Rodamco-Westfield SE UNBLF $117.90 $115.55 -2%
Kimco Realty Corporation KIM $24.38 $12.65 -48%
Scentre Group STGPF $2.65 $2.31 -13%
CapitaLand Integrated Commercial Trust (CICT or the Trust) CPAMF $1.86 $1.07 -42%

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Frequently asked questions

Is The Macerich Company (MAC) undervalued?
As of Jun 26, 2026, our model estimates a fair value of $6.96 versus a price of $25.48 — about −73% (overvalued). Model-based estimate, not financial advice.
What is the fair value of MAC?
Our 21-model fair value for The Macerich Company is $6.96 (as of Jun 26, 2026), built from audited fundamentals. The current price is $25.48.
What is the quality score of MAC?
The Macerich Company has a Quality Score of 94/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of The Macerich Company (MAC)?
The Macerich Company reported trailing-twelve-month revenue of about $1.0B (latest available figure, as of Jun 26, 2026).
What is the net profit margin of MAC?
The net profit margin of The Macerich Company is about -17.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does The Macerich Company pay a dividend?
The Macerich Company currently shows a dividend yield of about 2.96% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.