Mid-America Apartment Communities vs UDR
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The short version
- Mid-America Apartment Communities is the larger business, with $2.2B of revenue in fiscal 2025 against $1.7B for UDR.
- UDR grew revenue faster (2.4%, against 0.8%).
- Investors pay more for each dollar of Mid-America Apartment Communities’s earnings: a P/E of 36.3x against 24.4x for UDR.
| Latest fiscal year | MAA · FY25 | UDR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.0B | $11.8B |
| Revenue | $2.2B | $1.7B |
| Free cash flow | — | — |
| Net income | $447M | $378M |
| Growth | ||
| Revenue growth | 0.8% | 2.4% |
| 5-year growth | 5.7% | 6.7% |
| Share count change | 0.3% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 32.3% |
| Net margin | 20.2% | 22.1% |
| FCF margin | — | — |
| Return on capital | 5.7% | 6.0% |
| Return on equity | 7.7% | 11.2% |
| Balance sheet | ||
| Net debt | $5.3B | $5.8B |
| Net debt / EBITDA | 4.2x | 4.7x |
| Dividends and buybacks | $736M | $686M |
| Valuation & quality | ||
| P/E | 36.3x | 24.4x |
| Piotroski F-score | — | — |
Revenue
FY16
MAA —
UDR $960M
FY17
MAA $1.5B
UDR $996M
FY18
MAA $1.6B
UDR $1.0B
FY19
MAA $1.6B
UDR $1.2B
FY20
MAA $1.7B
UDR $1.2B
FY21
MAA $1.8B
UDR $1.3B
FY22
MAA $2.0B
UDR $1.5B
FY23
MAA $2.1B
UDR $1.6B
FY24
MAA $2.2B
UDR $1.7B
FY25
MAA $2.2B
UDR $1.7B
MAA
UDR
Operating margin
FY16
MAA —
UDR 41.8%
FY17
MAA —
UDR 22.9%
FY18
MAA —
UDR 33.9%
FY19
MAA —
UDR 19.2%
FY20
MAA —
UDR 20.1%
FY21
MAA —
UDR 20.8%
FY22
MAA —
UDR 16.5%
FY23
MAA —
UDR 39.0%
FY24
MAA —
UDR 17.0%
FY25
MAA —
UDR 32.3%
MAA
UDR
Free cash flow
FY16
MAA —
UDR —
FY17
MAA —
UDR —
FY18
MAA —
UDR —
FY19
MAA —
UDR —
FY20
MAA —
UDR —
FY21
MAA —
UDR —
FY22
MAA —
UDR —
FY23
MAA —
UDR —
FY24
MAA —
UDR —
FY25
MAA —
UDR —
MAA
UDR
Return on capital
FY16
MAA —
UDR 6.0%
FY17
MAA —
UDR 3.5%
FY18
MAA —
UDR 5.5%
FY19
MAA 5.0%
UDR 3.0%
FY20
MAA 4.0%
UDR 2.9%
FY21
MAA 6.6%
UDR 3.1%
FY22
MAA 7.6%
UDR 2.7%
FY23
MAA 6.7%
UDR 6.5%
FY24
MAA 6.5%
UDR 3.0%
FY25
MAA 5.7%
UDR 6.0%
MAA
UDR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.