greeksoup/ stock research
Stock research / United States / MMI · Real Estate Agents & Managers (For Others) · NYSE

Marcus & Millichap, Inc. (MMI)

Compare with another name

Marcus & Millichap, Inc. (MMI) reported revenue of $203 million for Q2 FY2026, the quarter ended 30 June 2026, up 17.8% on the same quarter a year earlier. Net income was $4 million, and diluted earnings per share $0.10. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$203 millionup 17.8%
Net income$4 million
Diluted EPS$0.10
QuarterQ2 FY2026ended 30 June 2026

Marcus & Millichap (MMI) in brief

Marcus & Millichap (MMI) reported revenue of $755 million for fiscal 2025, the year ended 31 December 2025, up 8.5% on the year before.
Read moreNet loss was $2 million and the diluted loss per share $0.05. Revenue was $696 million in fiscal 2024, $646 million in fiscal 2023, $1.3 billion in fiscal 2022 and $1.3 billion in fiscal 2021. Net income in the same years was a loss of $12 million, a loss of $34 million, $104 million and $142 million. Over the twelve months to 30 June 2026, Marcus & Millichap reported revenue of $812 million and net income of $14 million. Revenue grew 1.0% a year, compounded, over the five years to fiscal 2025. Marcus & Millichap had 38 million shares outstanding at the latest filed count. At the close of 9 October 2026 the market cap of Marcus & Millichap was $1.1 billion, 76.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE2.5%
ROCE1.6%
Operating margin1.2%
Net margin1.8%
FCF margin10.4%
Interest cover13.96
Debt to equity0.00
Cash conversion6.48
Share count, 1 year-2.9%
Sales CAGR, 3 years-16.6%
Profit CAGR, 3 yearsn/a
EPS, TTM$0.37

At the close of 9 October 2026

Price$28.27
Market cap$1.1 billion
Stock P/E76.41
Price to book1.85
EV / EBITDA45.14
Dividend yieldn/a
Market cap / sales1.32
52-week high$32.75
52-week low$25.01
Price, 1 year0.7%
Price CAGR, 3 years-1.3%
Price CAGR, 5 years-8.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Marcus & Millichap, Inc.'s balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
MMIgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MMI

Filings12 in twelve months: 5 current reports (8-K), about 4 results of operations; 1 shareholder vote
Planned insider sales2 Form 144 notices in twelve months, $48,472; latest 11 June 2026
Options tapeput/call 1.5 by open interest at the 9 October 2026 close; the straddle prices a 32.9% move to 16 October 2026
13F holders5 of the followed funds hold it; largest Geode Capital Management; 5 Schedule 13D or 13G filings in twelve months
Insider trading2 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest902,444 shares short, 4.27 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue162166129158169240145172194244171203
SG&A69.274.768.965.070.776.371.671.572.570.771.271.7
Operating income-15.4-17.2-20.1-8.0-11.56.7-17.7-9.0-2.415.4-5.82.2
Operating margin-10%-10%-16%-5%-7%3%-12%-5%-1%6%-3%1%
Interest expense0.20.20.20.20.20.20.20.20.20.20.20.1
Pre-tax income-11.2-11.7-14.7-3.4-6.411.5-13.9-3.71.519.2-2.26.3
Tax raten/an/an/an/an/a26%n/an/a84%31%n/a38%
Net income-9.2-10.2-10.0-5.5-5.48.5-4.4-11.00.213.3-3.13.9
Net margin-6%-6%-8%-3%-3%4%-3%-6%0%5%-2%2%
Diluted EPS-$0.24-$0.27-$0.26-$0.14-$0.14$0.22-$0.11-$0.28$0.01$0.34-$0.08$0.10
Operating cash flow7.714.7-51.00.915.256.7-52.821.052.246.3-27.622.2
Capital expenditure2.21.72.61.72.01.51.51.72.32.43.00.9
Free cash flow5.413.0-53.7-0.813.255.1-54.319.350.043.9-30.521.2
Buybacks0.04.50.60.00.00.20.47.00.617.424.90.5
Dividends paid0.19.70.69.70.19.70.79.90.29.80.89.6
Shares outstanding39m38m39m39m39m39m39m39m39m38m38m38m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue5726897177208158067171,2961,302646696755812
Cost of revenue350423445447503n/an/an/an/an/an/an/an/a
Gross profit222266273273312n/an/an/an/an/an/an/an/a
Gross margin38.8%38.6%38.0%38.0%38.3%n/an/an/an/an/an/an/an/a
Selling, general and administrative134148162172193203205255300285281286286
Operating income84.611510796.111296.453.6189137-59.4-32.9-13.79.5
Operating margin14.8%16.6%14.8%13.4%13.8%12.0%7.5%14.6%10.6%-9.2%-4.7%-1.8%1.2%
Interest expense1.71.71.51.51.41.40.90.60.70.90.80.80.7
Pre-tax income83.011310799.211710859.4193142-40.4-13.03.024.8
Income tax33.547.042.447.730.030.616.550.837.8-6.4-0.74.910.4
Effective tax rate40.3%41.5%39.6%48.1%25.6%28.4%27.8%26.3%26.6%n/an/a163.2%42.1%
Net income49.566.364.751.587.376.942.8142104-34.0-12.4-1.914.4
Net margin8.7%9.6%9.0%7.2%10.7%9.5%6.0%11.0%8.0%-5.3%-1.8%-0.3%1.8%
Diluted EPS$1.27$1.69$1.66$1.32$2.22$1.95$1.08$3.55$2.59-$0.88-$0.32-$0.05$0.37
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Real estate brokerage commissions56059063383.8%
Financing fees66.984.510413.8%
Other revenue19.321.918.72.5%
Real estate brokerage commissionsFinancing feesOther revenue
646FY2023696FY2024755FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow71.472.174.566.511725.338.125613.6-72.421.766.793.1
Capital expenditure2.66.89.56.68.18.86.96.911.79.47.97.98.6
Free cash flow68.965.365.060.010916.531.12492.0-81.813.858.884.5
Free cash flow margin12.0%9.5%9.1%8.3%13.4%2.0%4.3%19.2%0.2%-12.7%2.0%7.8%10.4%
Cash from investingn/an/a19.8-27.3-118-3.4-17.2-108-54.074.9-9.9-3.844.8
Cash from financingn/an/a-3.1-5.8-5.4-3.9-10.3-5.9-106-67.7-28.8-54.6-70.0
Depreciation and amortisation3.23.34.45.46.38.010.911.713.413.616.612.110.8
Share-based compensation5.07.17.09.112.09.39.910.417.324.123.824.225.2
Buybacksn/an/an/an/an/an/a0.00.029.139.40.825.443.5
Dividends paidn/an/an/an/an/an/a0.00.060.420.120.220.620.3
Diluted shares, weighted39m39m39m39m39m40m40m40m40m39m39m39m38m
Shares outstanding at period end37m37m38m38m39m39m39m40m39m38m39m38m38m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity117189259315410495547696714645631603579
Debtn/an/an/an/an/an/an/an/a0.00.00.00.00.0
Operating lease liabilitiesn/an/an/an/a0.063.259.458.365.169.465.759.556.7
Other liabilities117132135145157151173291225164173165130
Total liabilities and equity2343213944605667097791,0451,004878870827766
Owned
Fixed assets7.711.616.417.219.622.623.423.227.627.426.123.923.1
Goodwilln/an/an/a0.011.515.133.434.137.938.037.637.937.7
Intangible assetsn/an/a0.00.03.97.218.714.017.813.15.93.83.1
Investments14.8134105126221212206296322236241236192
Cash and equivalents14996.2187221215233243382236171153162154
Other assets62.079.285.496.196.1220254295362393406363357
Total assets2343213944605667097791,0451,004878870827766
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.9%1.0%-16.6%11.9%
Profit growth, compoundedn/an/an/an/a
Return on equity, average11.4%5.5%-2.5%-0.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Marcus & Millichap's revenue in fiscal 2025?

Marcus & Millichap (MMI) reported revenue of $755 million for fiscal 2025, the year ended 31 December 2025, up 8.5% on the year before.

How much did Marcus & Millichap earn in fiscal 2025?

Net loss was $2 million for fiscal 2025, and the diluted loss per share $0.05.

What is Marcus & Millichap's P/E ratio?

At the close of 9 October 2026, Marcus & Millichap traded at 76.4 times its earnings over the twelve months to 30 June 2026.

What is Marcus & Millichap's market cap?

The market cap of Marcus & Millichap was $1.1 billion at the close of 9 October 2026.

Peers: Real Estate

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
KE Holdings Inc. BEKE *$20.0 billion46.284.5%2.2%1.2%0.022.0%
Jones Lang Lasalle Inc. JLL$13.8 billion14.3813.4%4.7%11.2%0.220.0%
ST JOE Co. JOE$3.7 billion30.4516.1%30.2%28.4%0.480.9%
Marriott Vacations Worldwide Corp. VAC$3.6 billionn/a-16.2%-3.3%1.7%1.423.0%
Curbline Properties Corp. CURB$3.1 billion103.901.4%17.3%54.8%0.292.5%
Cushman & Wakefield Ltd. CWK$2.7 billion40.033.4%4.4%11.0%1.19n/a
Urban Edge Properties UE$2.4 billion35.854.9%n/a7.4%1.233.9%
Getty Realty Corp. GTY$1.7 billion16.988.9%63.8%10.9%0.956.8%
Ellington Financial Inc. EFC$1.5 billion7.099.9%37.2%44.8%2.0915.4%
Innovative Industrial Properties Inc. IIPR$1.4 billion11.737.4%51.4%-8.4%0.3314.7%
Marcus & Millichap, Inc. MMI$1.1 billion76.412.5%1.2%11.9%0.00n/a
Agnt, Inc. AGNT$622 millionn/a-6.1%-0.3%8.1%0.005.4%
All 17 in Real Estate
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Brookfield Corporation BN *$82.8 billion75.690.8%n/a-12.7%0.090.9%
CBRE Group, Inc. CBRE$37.9 billion30.0015.5%4.5%14.7%0.68n/a
KE Holdings Inc. BEKE *$20.0 billion46.284.5%2.2%1.2%0.022.0%
Invitation Homes Inc. INVH$15.8 billion24.597.3%12.5%6.7%0.944.4%
Jones Lang Lasalle Inc. JLL$13.8 billion14.3813.4%4.7%11.2%0.220.0%
Terreno Realty Corp. TRNO$7.0 billion17.338.8%41.4%18.0%0.213.2%
Millrose Properties, Inc. MRP$3.7 billion7.798.1%85.1%n/a0.4211.4%
ST JOE Co. JOE$3.7 billion30.4516.1%30.2%28.4%0.480.9%
Marriott Vacations Worldwide Corp. VAC$3.6 billionn/a-16.2%-3.3%1.7%1.423.0%
Curbline Properties Corp. CURB$3.1 billion103.901.4%17.3%54.8%0.292.5%
Cushman & Wakefield Ltd. CWK$2.7 billion40.033.4%4.4%11.0%1.19n/a
Urban Edge Properties UE$2.4 billion35.854.9%n/a7.4%1.233.9%
Getty Realty Corp. GTY$1.7 billion16.988.9%63.8%10.9%0.956.8%
Ellington Financial Inc. EFC$1.5 billion7.099.9%37.2%44.8%2.0915.4%
Innovative Industrial Properties Inc. IIPR$1.4 billion11.737.4%51.4%-8.4%0.3314.7%
Marcus & Millichap, Inc. MMI$1.1 billion76.412.5%1.2%11.9%0.00n/a
Agnt, Inc. AGNT$622 millionn/a-6.1%-0.3%8.1%0.005.4%
4 companies share its SEC industry code (Real Estate Agents & Managers (For Others)); the rest are the names nearest in size in its wider industry, Real Estate, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K31 December 202427 February 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 20248 May 2024EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install