How does Mid-America Apartment Communities (MAA) make money?

Mid-America Apartment Communities (MAA) generates revenue primarily from Same Store, which accounted for 93.9% of total revenue in TTM through Q1 2026. The company reported $2.21B in revenue and converted 17.6% of it into net profit, equivalent to roughly $389.60M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Mid-America Apartment Communities (MAA)?

Mid-America Apartment Communities (MAA) reported a gross profit margin of 39.6% in TTM through Q1 2026, equivalent to $876.21M in gross profit on $2.21B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Mid-America Apartment Communities (MAA)?

Mid-America Apartment Communities (MAA) reported an operating profit margin of 27.4% in TTM through Q1 2026, equivalent to $607.15M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Mid-America Apartment Communities (MAA)?

Mid-America Apartment Communities (MAA) reported a net profit margin of 17.6% in TTM through Q1 2026, equivalent to $389.60M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Mid-America Apartment Communities (MAA) profitable?

Yes. Mid-America Apartment Communities (MAA) reported $389.60M in net income for TTM through Q1 2026, with a net profit margin of 17.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Mid-America Apartment Communities (MAA) spend on capital expenditures?

Mid-America Apartment Communities (MAA) spent $421.23M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 19.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Mid-America Apartment Communities (MAA) generate?

Mid-America Apartment Communities (MAA) generated $609.97M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 27.6%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Mid-America Apartment Communities (MAA)?

Mid-America Apartment Communities (MAA) had an effective tax rate of 2.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Mid-America Apartment Communities (MAA)?

Mid-America Apartment Communities (MAA) reports revenue across 2 reportable product segments, led by Same Store at 93.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Mid-America Apartment Communities Makes Money: 2026 Visual Revenue Map

Mid-America Apartment Communities (MAA) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Mid-America Apartment Communities discloses geographic revenue only in annual filings. to view the full breakdown.

Mid-America Apartment Communities (MAA) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Mid-America Apartment Communities (MAA) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Same Store	$2.08B	93.9%
Non Same Store And Other	$135.17M	6.1%
Total	$2.21B	100%

Same Store$2.08B
Non Same Store And Other$135.17M
Total$2.21B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Mid-America Apartment Communities (MAA) reports revenue across 2 operating segments; the largest segment was Same Store at 93.9%, followed by Non Same Store And Other (6.1%).

Frequently asked questions

Data & methodology

Mid-America Apartment Communities (MAA) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

MAA Overview

Counters

Income Statement

Cash Flow

Capital Return

Forecast & Valuation