Macerich Company
Macerich 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 managi… Read more
Macerich Company (MAC) - Net Assets
Latest net assets as of December 2025: $2.53 Billion USD
Based on the latest financial reports, Macerich Company (MAC) has net assets worth $2.53 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.37 Billion) and total liabilities ($5.84 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.53 Billion |
| % of Total Assets | 30.2% |
| Annual Growth Rate | 9.33% |
| 5-Year Change | -20.44% |
| 10-Year Change | -42.92% |
| Growth Volatility | 44.85 |
Macerich Company - Net Assets Trend (1994–2025)
This chart illustrates how Macerich Company's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Macerich Company (1994–2025)
The table below shows the annual net assets of Macerich Company from 1994 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.53 Billion | -11.09% |
| 2024-12-31 | $2.84 Billion | +12.46% |
| 2023-12-31 | $2.53 Billion | -14.30% |
| 2022-12-31 | $2.95 Billion | -7.14% |
| 2021-12-31 | $3.18 Billion | +29.89% |
| 2020-12-31 | $2.45 Billion | -13.62% |
| 2019-12-31 | $2.83 Billion | -11.21% |
| 2018-12-31 | $3.19 Billion | -19.65% |
| 2017-12-31 | $3.97 Billion | -10.37% |
| 2016-12-31 | $4.43 Billion | -12.70% |
| 2015-12-31 | $5.07 Billion | -16.04% |
| 2014-12-31 | $6.04 Billion | +62.42% |
| 2013-12-31 | $3.72 Billion | +8.85% |
| 2012-12-31 | $3.42 Billion | +7.95% |
| 2011-12-31 | $3.16 Billion | -1.08% |
| 2010-12-31 | $3.20 Billion | +48.87% |
| 2009-12-31 | $2.15 Billion | +30.89% |
| 2008-12-31 | $1.64 Billion | -0.57% |
| 2007-12-31 | $1.65 Billion | -14.42% |
| 2006-12-31 | $1.93 Billion | +73.53% |
| 2005-12-31 | $1.11 Billion | -2.02% |
| 2004-12-31 | $1.13 Billion | -4.72% |
| 2003-12-31 | $1.19 Billion | -5.96% |
| 2002-12-31 | $1.27 Billion | +173.61% |
| 2001-12-31 | $462.94 Million | -4.11% |
| 2000-12-31 | $482.77 Million | -9.01% |
| 1999-12-31 | $530.55 Million | -28.59% |
| 1998-12-31 | $742.94 Million | +134.54% |
| 1997-12-31 | $316.76 Million | -9.50% |
| 1996-12-31 | $349.99 Million | +37.79% |
| 1995-12-31 | $254.00 Million | +59.45% |
| 1994-12-31 | $159.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Macerich Company's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 377391600000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.57 Million | 0.10% |
| Other Comprehensive Income | $-9.00K | 0.00% |
| Other Components | $6.22 Billion | 254.16% |
| Total Equity | $2.45 Billion | 100.00% |
Macerich Company Competitors by Market Cap
The table below lists competitors of Macerich Company ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tianfeng Securities Co Ltd
SHG:601162
|
$4.88 Billion |
|
Ebara Corporation
PINK:EBCOF
|
$4.88 Billion |
|
Taiwan Mobile Co Ltd
TW:3045
|
$4.88 Billion |
|
Home BancShares Inc
NYSE:HOMB
|
$4.88 Billion |
|
Avnet Inc
NASDAQ:AVT
|
$4.87 Billion |
|
Tripod Technology Corp
TW:3044
|
$4.87 Billion |
|
Posco Chemical Co Ltd
KO:003670
|
$4.87 Billion |
|
SHIMAMURA Co. Ltd
PINK:SHAOF
|
$4.87 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Macerich Company's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,756,487,000 to 2,448,871,000, a change of -307,616,000 (-11.2%).
- Net loss of 197,148,000 reduced equity.
- Dividend payments of 173,881,000 reduced retained earnings.
- New share issuances of 55,527,000 increased equity.
- Other comprehensive income increased equity by 25,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-197.15 Million | -8.05% |
| Dividends Paid | $173.88 Million | -7.1% |
| Share Issuances | $55.53 Million | +2.27% |
| Other Comprehensive Income | $25.00K | +0.0% |
| Other Changes | $7.86 Million | +0.32% |
| Total Change | $- | -11.16% |
Book Value vs Market Value Analysis
This analysis compares Macerich Company's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.00x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.26x to 2.00x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $5.84 | $19.04 | x |
| 1995-12-31 | $9.85 | $19.04 | x |
| 1996-12-31 | $10.82 | $19.04 | x |
| 1997-12-31 | $5.43 | $19.04 | x |
| 1998-12-31 | $12.75 | $19.04 | x |
| 1999-12-31 | $6.35 | $19.04 | x |
| 2000-12-31 | $10.20 | $19.04 | x |
| 2001-12-31 | $9.96 | $19.04 | x |
| 2002-12-31 | $20.42 | $19.04 | x |
| 2003-12-31 | $16.96 | $19.04 | x |
| 2004-12-31 | $14.94 | $19.04 | x |
| 2005-12-31 | $10.83 | $19.04 | x |
| 2006-12-31 | $16.87 | $19.04 | x |
| 2007-12-31 | $13.07 | $19.04 | x |
| 2008-12-31 | $16.06 | $19.04 | x |
| 2009-12-31 | $22.87 | $19.04 | x |
| 2010-12-31 | $24.02 | $19.04 | x |
| 2011-12-31 | $21.37 | $19.04 | x |
| 2012-12-31 | $22.94 | $19.04 | x |
| 2013-12-31 | $24.05 | $19.04 | x |
| 2014-12-31 | $35.65 | $19.04 | x |
| 2015-12-31 | $30.54 | $19.04 | x |
| 2016-12-31 | $28.52 | $19.04 | x |
| 2017-12-31 | $26.11 | $19.04 | x |
| 2018-12-31 | $20.89 | $19.04 | x |
| 2019-12-31 | $18.62 | $19.04 | x |
| 2020-12-31 | $15.43 | $19.04 | x |
| 2021-12-31 | $15.38 | $19.04 | x |
| 2022-12-31 | $13.33 | $19.04 | x |
| 2023-12-31 | $11.35 | $19.04 | x |
| 2024-12-31 | $11.04 | $19.04 | x |
| 2025-12-31 | $9.54 | $19.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Macerich Company utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -8.05%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -19.42%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 3.42x
- Recent ROE (-8.05%) is below the historical average (7.76%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 9.90% | 11.54% | 0.15x | 5.59x | $-90.00K |
| 1995 | 7.14% | 10.69% | 0.14x | 4.82x | $-4.53 Million |
| 1996 | 7.95% | 12.20% | 0.13x | 5.00x | $-4.86 Million |
| 1997 | 10.19% | 9.97% | 0.15x | 6.96x | $416.50K |
| 1998 | 7.63% | 15.53% | 0.12x | 4.02x | $-13.67 Million |
| 1999 | 32.15% | 39.40% | 0.14x | 5.99x | $88.89 Million |
| 2000 | 15.71% | 17.79% | 0.14x | 6.45x | $20.70 Million |
| 2001 | 22.27% | 23.23% | 0.15x | 6.58x | $42.83 Million |
| 2002 | 10.20% | 21.48% | 0.10x | 4.59x | $1.60 Million |
| 2003 | 13.43% | 26.34% | 0.12x | 4.35x | $32.69 Million |
| 2004 | 10.03% | 16.74% | 0.12x | 5.08x | $279.70K |
| 2005 | 8.67% | 9.34% | 0.11x | 8.68x | $-11.02 Million |
| 2006 | 16.36% | 30.42% | 0.11x | 4.90x | $98.13 Million |
| 2007 | 7.46% | 9.57% | 0.11x | 7.06x | $-29.18 Million |
| 2008 | 11.91% | 18.85% | 0.11x | 5.80x | $26.67 Million |
| 2009 | 6.50% | 14.99% | 0.11x | 3.90x | $-65.02 Million |
| 2010 | 0.87% | 3.32% | 0.10x | 2.65x | $-263.84 Million |
| 2011 | 5.58% | 19.83% | 0.10x | 2.82x | $-124.47 Million |
| 2012 | 10.96% | 38.29% | 0.09x | 3.03x | $29.67 Million |
| 2013 | 12.51% | 40.81% | 0.11x | 2.70x | $84.22 Million |
| 2014 | 26.58% | 135.63% | 0.08x | 2.33x | $935.03 Million |
| 2015 | 10.31% | 37.73% | 0.11x | 2.39x | $14.53 Million |
| 2016 | 12.59% | 49.65% | 0.10x | 2.43x | $106.41 Million |
| 2017 | 3.95% | 14.63% | 0.10x | 2.61x | $-222.78 Million |
| 2018 | 2.03% | 6.25% | 0.11x | 3.06x | $-235.00 Million |
| 2019 | 3.68% | 10.44% | 0.10x | 3.36x | $-166.41 Million |
| 2020 | -10.20% | -29.29% | 0.09x | 4.07x | $-455.91 Million |
| 2021 | 0.47% | 1.68% | 0.10x | 2.74x | $-290.42 Million |
| 2022 | -2.31% | -7.69% | 0.11x | 2.82x | $-352.65 Million |
| 2023 | -11.20% | -31.00% | 0.12x | 3.07x | $-518.77 Million |
| 2024 | -7.04% | -21.14% | 0.11x | 3.11x | $-469.77 Million |
| 2025 | -8.05% | -19.42% | 0.12x | 3.42x | $-442.04 Million |
Industry Comparison
This section compares Macerich Company's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $22,048,860,627
- Average return on equity (ROE) among peers: 3.28%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Macerich Company (MAC) | $2.53 Billion | 9.90% | 2.31x | $4.87 Billion |
| Agree Realty Corporation (ADC) | $137.98 Million | 10.88% | 0.90x | $9.41 Billion |
| AEORF (AEORF) | $210.91 Billion | 5.61% | 0.83x | $1.34 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.69 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.07 Billion | 3.30% | 0.75x | $1.50 Billion |
| Alexanders Inc (ALX) | $50.92 Million | -34.84% | 17.09x | $515.62 Million |
| Saul Centers Inc (BFS) | $-4.60 Million | 0.00% | 0.00x | $453.57 Million |
| Brixmor Property (BRX) | $2.72 Billion | 9.94% | 2.08x | $8.61 Billion |
| CBL & Associates Properties Inc (CBL) | $1.08 Billion | 10.83% | 4.49x | $694.28 Million |
| Capital & Counties Properties PLC (CCPPF) | $2.51 Billion | 17.90% | 0.23x | $1.88 Billion |
| CapitaLand China Trust (CLDHF) | $1.93 Billion | 4.63% | 1.02x | $745.61 Million |