Marcus & Millichap (MMI) FY2021 results: revenue $1.3 billion, up 80.8% on the year
Marcus & Millichap, Inc. (MMI) reported revenue of $1.3 billion for fiscal 2021, the year ended 31 December 2021, up 80.8% on the year before. Net income was $142 million, up 232.6%, and diluted earnings per share $3.55. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.
Revenue
$1.3 billion
+80.8% on the year
FY2014FY2021
Operating margin
14.6%
7.5% a year earlier
FY2014FY2021
Net income
$142 million
+232.6% on the year
FY2014FY2021
Diluted EPS
$3.55
+228.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
256
38.1
25.3
+571.9%
Capital expenditure
6.9
6.9
8.8
-1.3%
Free cash flow
249
31.1
16.5
+699.7%
Free cash flow margin
19.2%
4.3%
2.0%
Cash from investing
-108
-17.2
-3.4
Cash from financing
-5.9
-10.3
-3.9
Depreciation and amortisation
11.7
10.9
8.0
+7.5%
Share-based compensation
10.4
9.9
9.3
+4.6%
Buybacks
0.0
0.0
n/a
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
40m
40m
40m
+1.1%
Shares outstanding at period end
40m
39m
39m
+0.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
696
547
495
+27.3%
Debt
0.0
0.0
6.6
Operating lease liabilities
58.3
59.4
63.2
-1.8%
Other liabilities
291
173
144
+68.1%
Total liabilities and equity
1,045
779
709
+34.2%
Fixed assets
23.2
23.4
22.6
-1.0%
Goodwill
34.1
33.4
15.1
+2.1%
Intangible assets
14.0
18.7
7.2
-24.9%
Investments
296
206
212
+43.9%
Cash and equivalents
382
243
233
+57.2%
Other assets
295
254
220
+16.0%
Total assets
1,045
779
709
+34.2%
10-K for the year ended 31 December 2021, filed 1 March 2022: the filing.