Agree Realty vs Macerich
Macerich is the larger business, with $1.01bn of revenue in fiscal 2025 against $718m for Agree Realty (1.4 times as much). Agree Realty grew faster (16.4% against 10.4%). Agree Realty kept more of each dollar of sales as profit: a net margin of 28.4% against -19.4%.
| Latest fiscal year | Agree RealtyADC, 2025 | MacerichMAC, 2025 |
|---|---|---|
| Revenue | $718m | $1.01bn |
| Revenue growth | 16.4% | 10.4% |
| Net income | $204m | −$197m |
| Operating margin | 47.4% | — |
| Net margin | 28.4% | -19.4% |
| Return on equity | 3.5% | -7.6% |
| Free cash flow | $504m | — |
| Cash | $16.3m | $280m |
| Total debt | $3.32bn | $5.07bn |
| Debt to equity | 53.0% | — |
| Dividend per share | $3.08 | $0.68 |
| Dividend yield | 4.3% | 2.7% |
| Share buybacks | $3.7m | — |
| Employees | 90 | 598 |
| Market value | $8.94bn | $7.02bn |
| Price vs our value range | — | — |
| Moat score | 41 (Weak) | 30 (Weak) |
| Insider trades, 12 months | 14 buys, 0 sales | 0 buys, 1 sales |