Marcus & Millichap, Inc. MMI

29.75 (0.55) (1.82%) as of 25 Sep
Market cap
$1.2B
P/E
81.2×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 0.05
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — 1 — — —
Insider Ownership 41.18%

Capital & Financial Ratios

Market Cap 1,150.00
Revenue 812.22
Net Income 14.36
Free Cash Flow 84.52
Net Debt (210.76)
Current Ratio 2.92
Debt/Equity 0.00
P/E ratio 81.24
P/S ratio 1.39
P/B ratio 1.94
Past 5Y EPS Growth 14.49%
This Y EPS Growth 1,120.00%
Next Y EPS Growth 82.35%
Next 5Y EPS Growth 6.00%
in millions of $

Dividends

Payout Ratio 1.35
Annual Dividend Rate 0.50
Annual Dividend Yield 1.33%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.50
0.25
0.25
2025 0.50
0.25
0.25
2024 0.50
0.25
0.25
2023 0.75
0.25
0.25
0.25
2022 0.25
1.00
0.25
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

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
in millions of $

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%)

Revenue

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
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

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
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

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
in millions of $ · fiscal quarters ending in the months shown

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

Target Price Range

Analyst price targets

Recommendation Rating

4
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
18.77 23.22 28.89 27.84 21.90 32.67 31.11 26.81 29.93 27.10

Analyst estimates 2026–2028

Powerpack
Low Price
30.31 32.72 41.45 43.50 39.32 52.25 58.33 44.24 43.78 41.94
High Price
748 774 831 877 764 801 887 896 897 854
Employees
1 1 1 1 1 2 1 1 1 1
Revenue/Emp
717 720 815 806 717 1,296 1,302 646 696 755
Revenue
38.01% 37.95% 38.28% 38.14% 37.53% 35.19% 34.63% 37.04% 38.01% 37.70%
Gross Margin
107 99 117 108 59 193 142 (40) (13) 3
EBT
14.93% 13.79% 14.39% 13.33% 8.28% 14.91% 10.91% (6.25%) (1.87%) 0.40%
EBT Margin
65 52 87 77 43 142 104 (34) (12) (2)
Net Income
4 5 6 8 11 12 13 14 17 12
Depreciation
18.44 18.46 20.81 20.47 18.08 32.50 32.63 16.71 18.00 19.39
Revenue/Sh
1.66 1.32 2.23 1.95 1.08 3.57 2.61 (0.88) (0.32) (0.05)
Earnings/Sh
1.91 1.71 3.00 0.64 0.96 6.42 0.34 (1.87) 0.56 1.71
Cash Flow/Sh
(0.24) (0.17) (0.21) (0.22) (0.18) (0.17) (0.29) (0.24) (0.20) (0.20)
Capex/Sh
1.67 1.54 2.79 0.42 0.79 6.24 0.05 (2.12) 0.36 1.51
Free CF/Sh
6.65 8.08 10.46 12.56 13.79 17.46 17.89 16.69 16.31 15.49
Book Value/Sh
39 39 39 39 40 40 40 39 39 39
Shares
15.94 24.34 15.39 19.01 34.71 14.41 13.48 0.00 0.00 0.00
PE Ratio
1.43 1.75 1.65 1.82 2.06 1.58 1.07 2.56 2.13 1.41
PS Ratio
3.98 4.01 3.28 2.97 2.70 2.95 1.96 2.56 2.35 1.76
PB Ratio
1.15 1.36 1.23 1.42 1.58 1.19 0.75 2.15 1.74 1.17
EV/Sales
12.65 16.26 9.14 69.56 36.40 6.20 495.95 (16.97) 87.47 15.04
EV/FCF
74 67 117 25 38 256 14 (72) 22 67
Op' Cash Flow
(9) (7) (8) (9) (7) (7) (12) (9) (8) (8)
Capex
65 60 109 16 31 249 2 (82) 14 59
FCF
156 237 278 308 309 383 375 288 277 188
Working Cap'
9 8 7 63 59 58 65 — — —
Total Debt
(206) (287) (346) (320) (342) (508) (424) (340) (343) (252)
Net Debt
259 315 410 495 547 696 714 645 631 603
Sh' Equity
18.08% 12.07% 17.01% 12.06% 5.76% 15.62% 10.17% (3.62%) (1.41%) (0.22%)
ROA
126.27% 213.11% 109.62% 34.54% 16.39% 62.85% 29.69% (12.14%) (7.15%) (2.44%)
ROIC
28.87% 17.96% 24.09% 17.01% 8.22% 22.92% 14.79% (5.01%) (1.94%) (0.31%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Marcus & Millichap, Inc. peers in Real Estate Services

All 46 Real Estate Services stocks →

Marcus & Millichap, Inc. (MMI) key facts

  • Marcus & Millichap, Inc. (MMI) is a Real Estate Services company in the Real Estate sector, listed on the New York Stock Exchange.
  • Marcus & Millichap, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $755.2 million, up 8.49% from fiscal 2024.
  • Marcus & Millichap, Inc. reported a net loss of $1.9 million, or a loss of $0.05 per share, for fiscal 2025.
  • As of September 25, 2026, MMI traded at $29.75, a market capitalization of $1.2 billion.
  • At that price the stock trades at 81.2× trailing-twelve-month earnings and 1.4× sales.
  • Marcus & Millichap, Inc. pays an annual dividend of $0.50 per share, a yield of 1.33%, with a payout ratio of 135.1%.
  • Return on equity was −0.31% and debt-to-equity 0.00.

Source: company filings (standardised) and stockrow calculations.

Marcus & Millichap, Inc. (MMI) Latest News

News by impact score

Fine-tune

25 Sep

3

IPA, a Marcus & Millichap division, announced the $58.7 million sale of Ascend at Black Canyon, a 260-unit Phoenix multifamily property, for about $225,769 per unit. Seller D.R. Horton; buyer Millburn & Company. Completed in 2024 on 10 acres near I-17, Ascend at Black Canyon offers resort-style amenities and modern units; incomes within a one-mile radius average $163,500 and median $138,000, with local demand tied to high-earning jobs in nanometer-chip production for Apple, Sony, Tesla, and Qualcomm. The deal underscores Phoenix's growth and Marcus & Millichap's institutional property practice. Demonstrates ongoing strength in institutional deals, supporting MMI’s capital markets revenue and market positioning.

24 Sep

4

Institutional Property Advisors (IPA), a Marcus & Millichap division, arranged a $75.1 million recapitalization for The Monroe Hotel in Miami Beach’s Faena District, part of a four-source financing stack supporting a $125.5 million redevelopment slated to open in 2027. The sources include $44 million C-PACE from Nuveen Green Capital, $24.8 million construction debt from City National Bank, $6.3 million bridge from Midland States Bank, and historic tax credit equity from PNC Bank. The project, an 89-key luxury boutique hotel, will add amenities like a rooftop bar, restaurant, recording studio, spa, gym, and event space. While the financing demonstrates IPA’s multisource structuring capabilities and could broaden future high-end deals, it carries risks: construction delays, covenants across multiple lenders, the senior C-PACE lien, and sensitivity of ultra-luxury hospitality to macro demand. IPA's pipeline includes Birwood Heights and Oregon apartments, signaling continued deal flow. Demonstrates capacity to secure large multisource financings and broaden high-end deal flow, potentially elevating MMI’s future deal activity and institutional exposure.

3

IPA, a division of Marcus & Millichap (MMI), announced the sale of Griffis North Creek, a 524-unit, nearly 50-acre multifamily property in Bothell, Washington. Griffis Residential sold to GID; IPA represented both seller and buyer. Built in 1999, Griffis North Creek recently renovated 43% of units and common areas, with the buyer planning continued renovations. Located in Bothell’s Eastside tech and biomedical corridor near Microsoft, Amazon, Google, Meta and Apple, the community sits between greenbelts and creeks and offers amenities including wooded walking trails, a renovated central clubhouse, heated pool and spa, two playgrounds and a fenced dog park. The sale highlights demand for institutional-quality assets in high-income markets with limited new development and strong long-term demand drivers, reinforcing IPA’s capacity to facilitate large-scale transactions for MMI. Single brokered sale demonstrates IPA's deal flow and MMI's market relevance but is unlikely to materially change the company's overall trajectory.

23 Sep

3

StockStory labels Marcus & Millichap (MMI) as one of two small-cap stocks to sell, citing five-year sales down 1.5% annually, a forecasted 7.3-point drop in free cash flow margin, and waning returns on capital. It notes MMI trades around $30.93 and 47.1x forward P/E, arguing the combination of weak fundamentals and rich valuation justifies bearish sentiment. The piece contrasts MMI with NerdWallet as a buy and Robert Half as another sell, and invites readers to view a free full research report. Concerns about declining sales, shrinking free cash flow margin, and high forward valuation suggest potential downside pressure on MMI's stock and sentiment.

20 Sep

3

IPA, Marcus & Millichap's institutional arm, closed $83 million for two Oregon multifamily communities: Anjou Club (181 units) in Talent and Oak Vale (257 units) in Corvallis, signaling strong Pacific Northwest deal flow amid limited new supply. Praised for construction quality and maintenance, the assets boast high occupancies and growth-linked exposure (Corvallis’ 96.5% five-year occupancy; Talent tied to Medford’s projected growth). Oak Vale offers 1–3-bedroom units (~767 sf) with amenity-rich design; Anjou Club spans 22 buildings (~950 sf) with clubhouse, pools, and courts. IPA also recently closed a $40.3 million non-recourse bridge for Birwood Heights in Texas, underscoring its financing capabilities. Risks include Talent population projections, potential occupancy/rent slowdowns, higher interest costs, and shifting regional jobs. Investor sentiment remains positive toward multifamily, with BlackRock as largest MMI holder and ongoing institutional demand likely to benefit Marcus & Millichap. Expands institutional deal flow and reinforces confidence in MMI's brokerage unit, likely providing a moderate near-term tailwind.

14 Sep

3

Marcus & Millichap reports stronger Q2 results and obtains new bridge financing, raising questions on whether these factors alter the existing bullish outlook for the company. Stronger quarterly results and bridge financing deliver moderate positive effects on near-term financials and liquidity but remain incremental to overall trajectory.

13 Sep

3

Marcus & Millichap (MMI) returned to profit as deal activity resumes. Profit recovery from returning deals indicates improved financial results likely to lift near-term stock performance.

11 Sep

3

Self-storage supply growth has slowed while investment activity rebounds, signaling potential stabilization in the sector for real estate services firms like Marcus & Millichap. Sector-specific supply and investment shifts in self-storage may moderately influence brokerage volumes and market positioning.

3

Tertiary markets now account for the majority of commercial real estate deal counts, shifting transaction volume away from primary urban centers as Marcus & Millichap brokers more activity in smaller markets. Expanded deal flow in tertiary markets broadens MMI's brokerage pipeline but does not alter its core business model or competitive position.

4 Sep

3

Marcus & Millichap’s IPA Capital Markets arranged a $75.1 million recapitalization for The Monroe Hotel in Miami Beach’s Faena District. The $75.1 million hotel recapitalization deal demonstrates ongoing capital markets activity for the firm.

16 Aug

3

Marcus & Millichap returns to profit and launches dividends plus buybacks. Return to profit with dividends and buybacks improves financial standing and can lift near-term stock sentiment without reshaping long-term trajectory.

15 Aug

3

Marcus & Millichap's Q2 earnings call drew analyst questions on brokerage trends, market conditions, and company strategy in commercial real estate. Earnings call questions can shape short-term investor views on MMI's real estate brokerage outlook but do not signal major strategic shifts.

14 Aug

3 transcript

Marcus & Millichap (MMI) held Q2 2026 earnings call covering financial results, operations and outlook. Earnings call supplies performance metrics and guidance that shape near-term investor views.

11 Aug

3

Marcus & Millichap posted balanced Q2 revenue growth with margin recovery in commercial real estate operations. Q2 results show revenue growth and margin recovery that can affect near-term financials and sentiment.

8 Aug

3

Marcus & Millichap Q2 earnings call covered financial results, operational metrics, market conditions, and forward outlook for the commercial real estate brokerage firm. Q2 earnings data and guidance can shift near-term investor views and trading in MMI shares but rarely alter long-term company trajectory.

7 Aug

3 transcript

Marcus & Millichap, Inc. released its Q2 2026 earnings call summary detailing financial results and real estate market conditions. Quarterly earnings provide updates on performance that moderately influence investor sentiment and short-term stock movement.

3

Private investors are driving a surge in NNN-leased restaurant property deals, increasing transaction volume for Marcus & Millichap brokerage services. Surge in NNN restaurant deals increases brokerage transaction volume and revenue potential for Marcus & Millichap.

6 Aug

4 transcript

Marcus & Millichap Inc posted an 18% revenue increase during its Q2 2026 earnings call. 18% revenue surge in quarterly results signals major positive shift in company trajectory and investor outlook.

4

Marcus & Millichap, Inc. released preliminary results for the second quarter of 2026. Preliminary quarterly results typically drive substantial changes in valuation and future expectations.

4

Marcus & Millichap reported Q2 CY2026 results that beat expectations with strong performance. Strong earnings beat directly improves near-term financial outlook and investor sentiment for MMI.

16 Jul

3

Marcus & Millichap CEO Hessam Nadji states office sector sustains revival. CEO outlook on core office market may lift MMI sentiment and near-term brokerage activity.

14 Jul

3

Slower apartment supply growth is restoring landlords' pricing power across markets. Improved landlord pricing power signals stronger apartment market conditions that can lift brokerage volumes for Marcus & Millichap.

29 May

3

Marcus & Millichap's Institutional Property Advisors facilitated the $910 million sale of a student housing portfolio. Large transaction advisory role signals solid revenue potential without shifting core operations.

13 May

4

Marcus & Millichap's Q1 results reveal surging transaction volume and financing growth, signaling a commercial real estate market rebound. Q1 increases in transaction volume and financing directly boost revenue prospects amid market recovery.

12 May

4

Marcus & Millichap Q1 earnings call highlights key financial results, operational updates, and forward guidance. Q1 earnings call highlights detail financial performance and strategic outlook with potential to significantly sway investor sentiment and stock trajectory.

8 May

3

Marcus & Millichap (MMI) shares rose 6.2% after reporting a narrower Q1 loss driven by higher revenue, prompting analysis on whether the bull case has changed. Narrower Q1 loss and higher revenue improved financial performance and triggered a 6.2% stock rise, with moderate influence on market sentiment and trajectory.

3

Marcus & Millichap, Inc. Q1 2026 earnings call summary details quarterly financial results, operational updates, and forward guidance. Quarterly earnings highlights influence financial performance and market sentiment without fundamentally altering long-term trajectory.

7 May

4

Marcus & Millichap (NYSE:MMI) beat expectations with strong Q1 CY2026 results. Beating Q1 expectations indicates robust financial health, likely driving positive stock performance and investor confidence.

4

Marcus & Millichap, Inc. reports preliminary results for first quarter 2026. Preliminary quarterly results disclosure significantly influences financial performance expectations and stock valuation.

6 May

3

Industry veteran Mario J. Alvarez Jr., with a track record exceeding $1 billion in transactions, joins eXp Commercial. Competitor eXp Commercial gains a top producer with $1B+ track record, pressuring MMI's competitive position and revenue potential.

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