Macerich Cash Flow Statement
NYSE: MACReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Macerich free cash flow
In fiscal 2025, Macerich generated $321.6 million of operating cash flow and spent $66.4 million on capital expenditures. That left free cash flow of $255.2 million, a free-cash-flow margin of 25.2% of revenue. Free cash flow was up 13.4% from the prior year's $225.1 million.
Macerich returned $188.2 million to shareholders through dividends, equal to 74% of free cash flow. Free cash flow covered dividend payments 1.4 times.
Summary generated from market data by MetaCap's automated system. Methodology
Macerich cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -201.06M | -197.66M | -278.10M | -65.08M | 16.16M | -245.46M | 102.55M | 68.97M | 161.67M | 554.84M |
| Net Income growth (YoY) | — | — | — | -502.64% | — | -339.35% | +48.69% | -57.34% | -70.86% | +6.11% |
| Depreciation & Amortization | 368.10M | 305.88M | 296.39M | 302.48M | 324.40M | 326.06M | 337.67M | 334.68M | 341.27M | 355.36M |
| Stock-Based Compensation | 18.17M | 12.13M | 13.17M | 17.64M | 14.27M | 13.84M | 12.03M | 27.37M | 30.80M | 33.29M |
| Change in Working Capital | 4.01M | -12.75M | 6.45M | -6.64M | 77.30M | -105.14M | -19.48M | -7.63M | -16.74M | -36.55M |
| Operating Cash Flow | 321.60M | 283.44M | 295.50M | 337.51M | 286.37M | 124.84M | 355.16M | 344.31M | 386.39M | 429.53M |
| Capital Expenditures | -66.42M | -58.33M | -74.56M | -52.64M | -30.52M | -23.14M | -21.11M | -56.14M | -41.81M | -47.86M |
| Investing Cash Flow | -325.34M | 19.79M | 52.54M | -1.40M | 234.97M | -202.85M | -112.03M | 176.32M | 178.99M | 454.07M |
| Dividends Paid | -188.21M | -161.29M | -159.29M | -186.33M | -143.45M | -179.86M | -474.53M | -453.63M | -443.84M | -779.31M |
| Share Repurchases | — | — | — | — | — | — | 0 | 0 | -221.43M | -800.02M |
| Debt Issued | 599.10M | 1.23B | 719.00M | 277.00M | 520.00M | 660.00M | 1.80B | 415.00M | 1.43B | 3.20B |
| Debt Repaid | -257.32M | -2.02B | -863.26M | -406.07M | -2.02B | -33.97M | -1.57B | -469.81M | -1.22B | -2.44B |
| Financing Cash Flow | 199.22M | -316.05M | -338.89M | -321.94M | -837.02M | 446.45M | -278.22M | -514.44M | -566.27M | -867.50M |
| Net Change in Cash | 195.48M | -12.81M | 9.15M | 14.17M | -315.69M | 368.44M | -35.09M | 6.20M | -3.01M | 7.54M |
| Free Cash Flow | 255.19M | 225.12M | 220.94M | 284.87M | 255.85M | 101.69M | 334.04M | 288.17M | 344.58M | 381.67M |
This table shows 10 annual periods of Macerich's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MAC's reporting calendar. What is a cash flow statement?