Marcus & Millichap (MMI) FY2022 results: revenue $1.3 billion, up 0.4% on the year
Marcus & Millichap, Inc. (MMI) reported revenue of $1.3 billion for fiscal 2022, the year ended 31 December 2022, up 0.4% on the year before. Net income was $104 million, down 26.8%, and diluted earnings per share $2.59. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$1.3 billion
+0.4% on the year
FY2015FY2022
Operating margin
10.6%
14.6% a year earlier
FY2015FY2022
Net income
$104 million
-26.8% on the year
FY2015FY2022
Diluted EPS
$2.59
-27.0% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
13.6
256
38.1
-94.7%
Capital expenditure
11.7
6.9
6.9
+70.1%
Free cash flow
2.0
249
31.1
-99.2%
Free cash flow margin
0.2%
19.2%
4.3%
Cash from investing
-54.0
-108
-17.2
Cash from financing
-106
-5.9
-10.3
Depreciation and amortisation
13.4
11.7
10.9
+14.4%
Share-based compensation
17.3
10.4
9.9
+67.1%
Buybacks
29.1
0.0
0.0
Dividends paid
60.4
0.0
0.0
Diluted shares, weighted
40m
40m
40m
-0.0%
Shares outstanding at period end
39m
40m
39m
-1.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
714
696
547
+2.5%
Debt
0.0
0.0
0.0
Operating lease liabilities
65.1
58.3
59.4
+11.6%
Other liabilities
225
291
173
-22.5%
Total liabilities and equity
1,004
1,045
779
-4.0%
Fixed assets
27.6
23.2
23.4
+19.2%
Goodwill
37.9
34.1
33.4
+11.3%
Intangible assets
17.8
14.0
18.7
+26.7%
Investments
322
296
206
+8.6%
Cash and equivalents
236
382
243
-38.3%
Other assets
362
295
254
+22.8%
Total assets
1,004
1,045
779
-4.0%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.