Pricing Log in Create free account
Friday 6 November 2026 Export MMI’s income statement to Excel — free account

Marcus & Millichap, Inc.

MMI Real Estate Real Estate Services

Marcus & Millichap, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $755.2 million, up 8.49% from fiscal 2024.

Revenue
+17.8%
EPS
+135.7%
Free cash flow
+10.1%

Quarter to June 2026, against a year earlier

28.68 0.87 −2.94%
Market cap
$1.1B
P/E
78.3×
Fwd P/E
63.6×
Dividend yield
1.74%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.05
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — 1 — — — — —
Insider Ownership 41.18%

Capital & Financial Ratios $m

Size
Market Cap 1,090.00
Revenue ttm 812.22
Net income ttm 14.36
Free cash flow ttm 84.52
Net debt Q (210.76)
Valuation
P/E 78.32 (above 35: high)
Forward P/E 63.60 (above 35: high)
Price / sales 1.34
Forward P/S Powerpack
Price / FCF 12.84
Price / book 1.87
Financial health
Current ratio Q 2.92
Debt / equity Q 0.00
Interest coverage Q 15.81
Growth
Revenue growth Q +17.78% (above 0%: growing)
Operating income growth Q +124.47% (above 0%: growing)
EPS, this year +930.00% (at or above 15%: strong)
EPS, next year A +72.29% (at or above 15%: strong)
Revenue, next year A +10.59% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +6.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 1.2×; over the ten years it ranged from 0.5× in 2022 to 2.1× in 2024.
P/E against its own 10 years 93.53%
10-year low 10-year high
P/S against its own 10 years 17.57%
10-year low 10-year high
P/B against its own 10 years 10.49%
10-year low 10-year high
EV/Sales against its own 10 years 26.07%
10-year low 10-year high
EV/FCF against its own 10 years 20.43%
10-year low 10-year high

Dividends

Yield
1.74%
Annual rate
0.50
Payout ratio
136.6%
Growth, 2022–26
+18.9%/yr
  1. 0.25 ’22
  2. 0.75 ’23 +200
  3. 0.50 ’24 −33
  4. 0.50 ’25 +0
  5. 0.50 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 340 343 252 211
Receivables 25 25 17 17
Inventory — — — —
Other 16 16 14 —
394 410 309 271
2023 2024 2025 Q'26
Payables 64 81 68 50
ST’ Debt — — — —
Other 4 8 10 9
105 133 121 93

Compound Annual Growth %

10y 5y 3y
Sales 0.92% 1.05% (16.60%)
Cash Flow (0.78%) 11.84% 69.74%
Earnings 0.00% 0.00% 0.00%
Book Value 12.30% 1.98% (5.45%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY21 Estimate 0.38 Actual 0.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY20 0.04 0.15 Beat by 0.11
Q4 FY20 0.14 0.59 Beat by 0.45
Q1 FY21 0.19 0.37 Beat by 0.18
Q2 FY21 0.38 0.78 Beat by 0.40

EPS $

Mar Jun Sep Dec Year
’26 (0.08) 0.10 — — —
’25 (0.11) (0.28) 0.01 0.34 (0.05)
’24 (0.26) (0.14) (0.14) 0.22 (0.32)
’23 (0.15) (0.23) (0.24) (0.27) (0.88)
’22 0.81 1.04 0.53 0.20 2.59
’21 0.37 0.78 0.84 1.53 3.55
’20 0.33 0.00 0.15 0.59 1.08
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 171 203 — — —
’25 145 172 194 244 755
’24 129 158 169 240 696
’23 155 163 162 166 646
’22 319 396 324 262 1,302
’21 184 285 332 495 1,296
’20 191 117 159 250 717
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (28) 22 — — —
’25 (53) 21 52 46 67
’24 (51) 1 15 57 22
’23 (101) 6 8 15 (72)
’22 (68) 16 40 25 14
’21 (20) 54 66 156 256
’20 (53) 1 24 66 38
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (31) 21 — — —
’25 (54) 19 50 44 59
’24 (54) (1) 13 55 14
’23 (104) 4 5 13 (82)
’22 (69) 13 37 22 2
’21 (21) 52 65 154 249
’20 (55) (1) 22 65 31
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 717 720 815 806 717 1,296 1,302 646 696 755 812 +0.6% 835 926 1,085 +12.8%
Gross margin, % 38.01 37.95 38.28 38.14 37.53 35.19 34.63 37.04 38.01 37.70 37.72 (0.3) pt
EBT 107 99 117 108 59 193 142 (40) (13) 3 25 (32.7%)
EBT margin, % 14.93 13.79 14.39 13.33 8.28 14.91 10.91 (6.25) (1.87) 0.40 3.05 (14.5) pt
Net income 65 52 87 77 43 142 104 (34) (12) (2) 14 n/m
Per share, $
Per share, $ Revenue 18.44 18.46 20.81 20.47 18.08 32.50 32.63 16.71 18.00 19.39 21.47 +0.6%
Earnings 1.66 1.32 2.23 1.95 1.08 3.57 2.61 (0.88) (0.32) (0.05) 0.37 n/m
Cash flow 1.91 1.71 3.00 0.64 0.96 6.42 0.34 (1.87) 0.56 1.71 2.46 (1.2%)
Capex (0.24) (0.17) (0.21) (0.22) (0.18) (0.17) (0.29) (0.24) (0.20) (0.20) (0.23) (2.0%)
Free cash flow 1.67 1.54 2.79 0.42 0.79 6.24 0.05 (2.12) 0.36 1.51 2.23 (1.1%)
Book value 6.65 8.08 10.46 12.56 13.79 17.46 17.89 16.69 16.31 15.49 15.30 +9.8%
Shares, m 39 39 39 39 40 40 40 39 39 39 38 0.0%
Valuation, ×
Valuation, × P/E 15.94 24.34 15.39 19.01 34.71 14.41 13.48 0.00 0.00 0.00 78.32 13.7
P/S 1.43 1.75 1.65 1.82 2.06 1.58 1.07 2.56 2.13 1.41 1.34 1.7
P/B 3.98 4.01 3.28 2.97 2.70 2.95 1.96 2.56 2.35 1.76 1.87 2.9
EV/Sales 1.15 1.36 1.23 1.35 1.51 1.15 0.70 2.04 1.64 1.08 1.08 1.3
EV/FCF 12.65 16.26 9.14 66.13 34.71 6.00 466.18 (16.14) 82.60 13.90 10.42 69.1
Cash, $m
Cash, $m Operating cash flow 74 67 117 25 38 256 14 (72) 22 67 93 (1.2%)
Capex (9) (7) (8) (9) (7) (7) (12) (9) (8) (8) (9) (2.0%)
Free cash flow 65 60 109 16 31 249 2 (82) 14 59 85 (1.1%)
Balance, $m
Balance, $m Working capital 156 237 278 308 309 383 375 288 277 188 178 +2.1%
Net debt (206) (287) (346) (383) (401) (566) (489) (340) (343) (252) (211) +2.3%
Shareholders’ equity 259 315 410 495 547 696 714 645 631 603 579 +9.9%
Returns, %
Returns, % ROA 18.08 12.07 17.01 12.06 5.76 15.62 10.17 (3.62) (1.41) (0.22) 1.84 (18.3) pt
ROIC 126.27 213.11 109.62 54.06 23.04 90.83 38.30 (12.14) (7.15) (2.44) 1.61 (128.7) pt
ROE 28.87 17.96 24.09 17.01 8.22 22.92 14.79 (5.01) (1.94) (0.31) 2.42 (29.2) pt
People
People Employees 748 774 831 877 764 801 887 896 897 854 — +1.5%
Revenue/emp, $m 0.96 0.93 0.98 0.92 0.94 1.62 1.47 0.72 0.78 0.88 — (0.9%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Marcus & Millichap, Inc. vs peers in Real Estate Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
IHS IHS Holding Limited $2.9B 20.1× 11.9× +10.41% (above 0%: growing) n/m −41.30% (below 0%: shrinking) 48.32% 19.32% Compare
NMRK Newmark Group, Inc. $2.2B 14.4× 14.6× +17.03% (above 0%: growing) −8.33% (below 0%: shrinking) +188.46% (above 0%: growing) 100.00% 4.55% Compare
OPEN Opendoor Technologies Inc. $1.7B — (loss-making) — (loss-making) +11.69% (above 0%: growing) n/m −293.52% (below 0%: shrinking) 3.72% (18.30%) Compare
HBNB Hotel101 Global Holdings Corp. $1.1B — — — — — — — Compare
MMI Marcus & Millichap, Inc. $1.1B 78.3× 63.6× +17.78% (above 0%: growing) n/m +10.09% (above 0%: growing) 37.58% 1.09%
IRS IRSA Inversiones Y Representaciones S.A. $1.0B 3.6× — −6.72% (below 0%: shrinking) −34.23% (below 0%: shrinking) −94.09% (below 0%: shrinking) 57.01% 103.31% Compare
AGNT AGNT, Inc. $653.4M — (loss-making) — (loss-making) +5.78% (above 0%: growing) n/m −30.63% (below 0%: shrinking) 0.00% 0.22% Compare
REAX Real REMAX Group Inc. $541.1M — (loss-making) — (loss-making) +29.56% (above 0%: growing) n/m +15.60% (above 0%: growing) 8.32% (1.00%) Compare
RMR The RMR Group Inc. $511.0M 14.0× 15.3× −0.78% (below 0%: shrinking) −28.00% (below 0%: shrinking) +12,868.60% (above 0%: growing) 98.88% (6.04%) Compare
Median of peers $1.1B 14.2× 14.6× +10.41% −28.00% −30.63% 48.32% 0.22%

All 44 Real Estate Services stocks →

Pay and ownership Proxy statement filed 18 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.27m 1.98m 79.17
2024 4.58m 2.30m 109.34
2023 10.41m 13.85m 123.15
2022 7.53m 3.52m 97.71
2021 8.22m 10.97m 138.21

Ownership

Directors and executive officers, together 41.10%
George M. Marcus 39.40%
Phoenix Investments Holdings LLC 37.10%
BlackRock, Inc. 10.20%
The Vanguard Group 10.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Marcus & Millichap, Inc. (MMI) Latest News

23 Oct

Impact 3 · · Business Wire earnings

22 Oct

Impact 3 · · Business Wire

21 Oct

Impact 4 · · credaily.com

16 Oct

Impact 3 · · ACCESS Newswire

14 Oct

Impact 3 · · Business Wire

9 Oct

Impact 3 · · Business Wire

7 Oct

Impact 3 · · Business Wire

1 Oct

Impact 3 · · StockStory

30 Sep

Impact 4 · · credaily.com
Impact 3 · · Simply Wall St.

28 Sep

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 ·

25 Sep

Impact 3 ·

24 Sep

Impact 4 · · Insider Monkey
Impact 3 · · Business Wire

23 Sep

Impact 3 · · StockStory

20 Sep

Impact 3 ·

14 Sep

Impact 3 ·

13 Sep

Impact 3 ·

11 Sep

Impact 3 · · credaily.com
Impact 3 · · credaily.com

4 Sep

Impact 3 ·

16 Aug

Impact 3 ·

15 Aug

Impact 3 ·

14 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat

7 Aug

Impact 3 · · Moby transcript
Impact 3 · · credaily.com
stockrow.com/MMI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com