Mid-America Apartment Communities income statement
In fiscal 2025, Mid-America Apartment Communities reported revenue of $2.21bn, up 0.8% on the year before and net income of $447m, or $3.78 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2008Dec 2008 | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 370 | 374 | 380 | 431 | 497 | 1,529 | 1,571 | 1,641 | 1,678 | 1,778 | 2,020 | 2,148 | 2,191 | 2,209 | 2,225 |
| General and administrative | 12 | 11 | 12 | 18 | 14 | 40 | 39 | 44 | 47 | 53 | 59 | 59 | 57 | 55 | 59 |
| Operating income | 96 | 92 | 85 | 95 | 130 | — | — | — | — | — | — | — | — | — | — |
| Interest expense | 62 | 57 | 55 | 57 | 59 | 155 | 174 | 180 | 168 | 157 | 155 | 149 | 169 | 185 | 208 |
| Income before tax | 32 | 33 | 30 | 35 | 68 | 342 | 232 | 369 | 266 | 563 | 647 | 571 | 545 | 459 | 403 |
| Income tax | — | — | — | — | — | 3 | 3 | 4 | 3 | 14 | −6 | 5 | 5 | 5 | 8 |
| Net income | 30 | 37 | 30 | 49 | 105 | 328 | 223 | 354 | 255 | 534 | 637 | 553 | 528 | 447 | 388 |
| Diluted EPS | $0.64 | $0.85 | $0.56 | $1.31 | $2.56 | $2.86 | $1.93 | $3.07 | $2.19 | $4.61 | $5.48 | $4.71 | $4.49 | $3.78 | $3.33 |
| Diluted shares (average) | 27m | 28m | 32m | 39m | 43m | 114m | 114m | 114m | 115m | 115m | 116m | 117m | 117m | 117m | 117m |
| EBITDA | 189 | 191 | 192 | 215 | 262 | — | — | — | — | — | — | — | — | — | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 550 | 549 | 550 | 554 | 556 | 554 | 555 | 560 |
| General and administrative | 14 | 16 | 13 | 13 | 14 | 17 | 15 | 13 |
| Interest expense | 44 | 45 | 45 | 46 | 49 | 51 | 53 | 55 |
| Income before tax | 172 | 187 | 111 | 103 | 58 | 132 | 125 | 88 |
| Income tax | 2 | 1 | 1 | 2 | 1 | 6 | 0 | 1 |
| Net income | 167 | 182 | 108 | 100 | 58 | 124 | 122 | 84 |
| Diluted EPS | $1.42 | $1.54 | $0.92 | $0.84 | $0.48 | $1.06 | $1.04 | $0.72 |
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