Mid-America Apartment Communities (BSP:M1AA34) EBIT : R$3,580 Mil (TTM As of Dec. 2023)

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What is Mid-America Apartment Communities EBIT?

Mid-America Apartment Communities's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was R$1,000 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was R$3,580 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mid-America Apartment Communities's annualized ROC % for the quarter that ended in Dec. 2023 was 6.03%. Mid-America Apartment Communities's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.46%.

Mid-America Apartment Communities EBIT Historical Data

The historical data trend for Mid-America Apartment Communities's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Mid-America Apartment Communities EBIT Chart

Mid-America Apartment Communities Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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2,251.35

2,229.73

4,071.58

4,205.43

3,528.24

Mid-America Apartment Communities Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															1,238.50	924.08	916.67	739.46	999.95

Competitive Comparison of Mid-America Apartment Communities's EBIT

For the REIT - Residential subindustry, Mid-America Apartment Communities's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mid-America Apartment Communities's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mid-America Apartment Communities's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Mid-America Apartment Communities's EV-to-EBIT falls into.

Mid-America Apartment Communities EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was R$3,580 Mil.

Mid-America Apartment Communities (BSP:M1AA34) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Mid-America Apartment Communities's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	3466.336 * ( 1 - 0.69% )	/	( (55347.937	+	58746.603)	/ 2 )
=	3442.4182816	/	57047.27
=	6.03 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	56213.874	-	3291.332	-	( 799.561	-	max(0, 3291.332	-	865.937	+	799.561	))
=	55347.937

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	56271.768	-	2455.265	-	( 202.43	-	max(0, 5200.035	-	269.935	+	202.43	))
=	58746.603

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Mid-America Apartment Communities's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3999.784	/	( ( (0 + max(-3224.956, 0))	+	(0 + max(-2707.129, 0)) )	/	2 )
=	3999.784	/	( ( 0	+	0 )	/	2 )
=	3999.784	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	66.376)	-	(3291.332	+	0	+	0)
=	-3224.956

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	67.505)	-	(2455.265	+	319.369	+	9.0949470177293E-13)
=	-2707.129

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Mid-America Apartment Communities's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	3580.147	/	103335.429
	=	3.46 %

Mid-America Apartment Communities EBIT Related Terms

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Mid-America Apartment Communities (BSP:M1AA34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mid-America Apartment Communities Inc (BSP:M1AA34) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

MAApI.PFD:USA MAA:USA M2K:Germany

Address

6815 Poplar Avenue, Suite 500, Germantown, TN, USA, 38138

Website

https://www.maac.com

Mid-America Apartment Communities Inc, or MAA, is a real estate investment trust engaged in the acquisition, operation, and development of multifamily apartment communities located in southeastern and southwestern United States. Company operates two reportable segments; Same Store includes communities that the Company has owned and have been stabilized for at least a full 12 months as of the first day of the calendar year and Non-Same Store and Other includes recently acquired communities, communities being developed or in lease-up, communities that have been disposed of or identified for disposition, communities that have experienced a significant casualty loss and stabilized communities that do not meet the requirements to be Same Store communities. Key revenue comes from the Same Store.

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