WallStSmart

Macerich Company (MAC)vsRealty Income Corporation (O)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Realty Income Corporation generates 490% more annual revenue ($6.07B vs $1.03B). O leads profitability with a 20.9% profit margin vs -16.5%. O appears more attractively valued with a PEG of 3.01. O earns a higher WallStSmart Score of 64/100 (C+).

MAC

Hold

45

out of 100

Grade: D+

Growth: 6.7Profit: 4.0Value: 3.7Quality: 3.0
Piotroski: 2/9Altman Z: -0.39

O

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 6.5Value: 3.3Quality: 5.5
Piotroski: 3/9Altman Z: 0.64
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MACFair Value (-3.1%)

Margin of Safety

-3.1%

Fair Value

$22.33

Current Price

$22.61

$0.28 premium

UndervaluedFair: $22.33Overvalued
OOvervalued (-5.5%)

Margin of Safety

-5.5%

Fair Value

$61.16

Current Price

$59.50

$1.66 premium

UndervaluedFair: $61.16Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MAC2 strengths · Avg: 9.0/10
EPS GrowthGrowth
3971.0%10/10

Earnings expanding 3971.0% YoY

Price/BookValuation
2.3x8/10

Reasonable price relative to book value

O6 strengths · Avg: 9.7/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
47.0%10/10

Strong operational efficiency at 47.0%

EPS GrowthGrowth
69.2%10/10

Earnings expanding 69.2% YoY

Debt/EquityHealth
0.0710/10

Conservative balance sheet, low leverage

Market CapQuality
$56.30B9/10

Large-cap with strong market position

Profit MarginProfitability
20.9%9/10

Keeps 21 of every $100 in revenue as profit

Areas to Watch

MAC4 concerns · Avg: 3.0/10
Revenue GrowthGrowth
1.2%4/10

1.2% revenue growth

Debt/EquityHealth
1.713/10

Elevated debt levels

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
4.802/10

Expensive relative to growth rate

O4 concerns · Avg: 2.5/10
Return on EquityProfitability
3.3%3/10

ROE of 3.3% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
3.012/10

Expensive relative to growth rate

P/E RatioValuation
43.4x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : MAC

The strongest argument for MAC centers on EPS Growth, Price/Book.

Bull Case : O

The strongest argument for O centers on Price/Book, Operating Margin, EPS Growth. Profitability is solid with margins at 20.9% and operating margin at 47.0%.

Bear Case : MAC

The primary concerns for MAC are Revenue Growth, Debt/Equity, Piotroski F-Score. Debt-to-equity of 1.71 is elevated, increasing financial risk.

Bear Case : O

The primary concerns for O are Return on Equity, Piotroski F-Score, PEG Ratio. A P/E of 43.4x leaves little room for execution misses.

Key Dynamics to Monitor

MAC profiles as a turnaround stock while O is a mature play — different risk/reward profiles.

MAC carries more volatility with a beta of 2.06 — expect wider price swings.

O is growing revenue faster at 9.6% — sustainability is the question.

MAC generates stronger free cash flow (-28M), providing more financial flexibility.

Bottom Line

O scores higher overall (64/100 vs 45/100), backed by strong 20.9% margins. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Macerich Company

REAL ESTATE · REIT - RETAIL · USA

The Macerich Company (MAC) is a leading real estate investment trust (REIT) focused on acquiring, leasing, and managing a high-quality portfolio of retail properties in prime markets across the United States. Renowned for its upscale shopping centers and mixed-use developments, Macerich prioritizes tenant performance and exceptional customer experiences to adapt to the evolving retail landscape. With a strong emphasis on sustainability and operational efficiency, the company is well-positioned to achieve long-term growth and value creation for its shareholders.

Realty Income Corporation

REAL ESTATE · REIT - RETAIL · USA

Realty Income Corporation is a real estate investment trust that invests in free-standing, single-tenant commercial properties in the United States, Puerto Rico, and the United Kingdom that are subject to NNN Leases. The company is organized in Maryland with its headquarters in San Diego, California.

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