Filing Flows › Mid America Apartment Communities (MAA) › Q1 2026 › vs Q4 2025
Mid America Apartment Communities (MAA) Q1 2026 vs Q4 2025 (quarter over quarter)
Mid America Apartment Communities's revenue fell $1.8M (-0.3%) from $556M in Q4 2025 to $554M in Q1 2026. The biggest changes: Same Store −$1.5M (-0.3%); Non Same Store and Other −$290K (-0.8%). Operating margin 23.8% against 10.5% (+13.3 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 Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 23.8% | 10.5% | +13.3 pts |
| Net margin | 22.5% | 10.4% | +12.1 pts |
| Free cash flow margin | 16.5% | 28.5% | -12.1 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Same Store | $517M | $519M | −$1.5M | -0.3% |
| Non Same Store and Other | $36.7M | $37.0M | −$290K | -0.8% |
| Revenue | $554M | $556M | −$1.8M | -0.3% |
| Operating profit | $132M | $58.4M | $73.4M | +126% |
| Costs & expenses | $422M | $497M | −$75.3M | -15% |
| Pre-tax earnings | $132M | $58.4M | $73.4M | +126% |
| General & admin | $16.7M | $13.8M | $2.9M | +21% |
| Other operating costs | $405M | $483M | −$78.1M | -16% |
| Net earnings | $124M | $57.6M | $66.8M | +116% |
| Minority interests | $2.3M | −$330K | $2.6M | — |
| Income tax | $5.5M | $1.2M | $4.3M | +364% |
| Operating cash sources | $292M | $222M | $70.0M | +32% |
| Depreciation & amortization | $162M | $160M | $2.1M | +1% |
| Share-based compensation | $5.8M | $4.7M | $1.1M | +24% |
| Working capital & other | $143M | −$39.5M | $182M | — |
| Operating cash flow | $150M | $262M | −$112M | -43% |
| Free cash flow (OCF − capex) | $91.3M | $159M | −$67.3M | -42% |
| Capital expenditures | $58.4M | $103M | −$44.7M | -43% |
Questions
How much did Mid America Apartment Communities's revenue grow quarter over quarter in Q1 2026?
Mid America Apartment Communities's revenue fell $1.8M (-0.3%) from $556M in Q4 2025 to $554M in Q1 2026.
What drove Mid America Apartment Communities's revenue change in Q1 2026?
Same Store −$1.5M (-0.3%); Non Same Store and Other −$290K (-0.8%).