Filing Flows › Mid America Apartment Communities (MAA) › Q1 2026 › vs Q1 2025
Mid America Apartment Communities (MAA) Q1 2026 vs Q1 2025 (year over year)
Mid America Apartment Communities's revenue rose $4.4M (+0.8%) from $549M in Q1 2025 to $554M in Q1 2026. The biggest changes: Non Same Store and Other +$6.3M (+21%); Same Store −$1.8M (-0.4%). Operating margin 23.8% against 34.0% (-10.2 pts).
Mid America Apartment Communities, Q1 2026: revenue $554M (+0.8% year over year), operating margin 23.8%, net earnings $124M, operating cash flow $150M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 23.8% | 34.0% | -10.2 pts |
| Net margin | 22.5% | 33.1% | -10.6 pts |
| Free cash flow margin | 16.5% | 22.6% | -6.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Same Store | $517M | $519M | −$1.8M | -0.4% |
| Non Same Store and Other | $36.7M | $30.5M | $6.3M | +21% |
| Revenue | $554M | $549M | $4.4M | +0.8% |
| Operating profit | $132M | $187M | −$55.1M | -29% |
| Costs & expenses | $422M | $362M | $59.5M | +16% |
| Pre-tax earnings | $132M | $187M | −$55.1M | -29% |
| General & admin | $16.7M | $15.6M | $1.1M | +7% |
| Other operating costs | $405M | $347M | $58.4M | +17% |
| Net earnings | $124M | $182M | −$57.3M | -32% |
| Minority interests | $2.3M | $4.7M | −$2.5M | -52% |
| Income tax | $5.5M | $1.0M | $4.5M | +432% |
| Operating cash sources | $292M | $339M | −$47.2M | -14% |
| Depreciation & amortization | $162M | $153M | $9.5M | +6% |
| Share-based compensation | $5.8M | $5.3M | $561K | +11% |
| Working capital & other | $143M | $143M | −$259K | -0.2% |
| Operating cash flow | $150M | $197M | −$47.0M | -24% |
| Free cash flow (OCF − capex) | $91.3M | $124M | −$32.7M | -26% |
| Capital expenditures | $58.4M | $72.6M | −$14.3M | -20% |
Questions
How much did Mid America Apartment Communities's revenue grow year over year in Q1 2026?
Mid America Apartment Communities's revenue rose $4.4M (+0.8%) from $549M in Q1 2025 to $554M in Q1 2026.
What drove Mid America Apartment Communities's revenue change in Q1 2026?
Non Same Store and Other +$6.3M (+21%); Same Store −$1.8M (-0.4%).