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Marcus & Millichap, Inc.

NYSE•MMI
CEO: Mr. George M. Marcus
Sector: Real Estate
Industry: Real Estate - Services
Listing Date: 2013-10-31
Marcus & Millichap, Inc., an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, and preferred equity, as well as loan sales and consultative/due diligence services to commercial real estate owners, developers, investors, and capital providers. In addition, the company provides research, advisory, and consulting services, which include opinions of value, operating and financial performance benchmarking analysis, specific asset buy-sell strategies, market and submarket analysis and ranking, portfolio strategies by property type, market strategy, development and redevelopment feasibility studies, and other services for developers, lenders, owners, real estate investment trusts, high-net-worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California.
Contact Information
23975 Park Sorrento, Suite 400, Calabasas, CA, 91302, United States
818-212-2250
www.marcusmillichap.com
Market Cap
$1.02B
P/E (TTM)
-530.6
31.4
Dividend Yield
1.9%
52W High
$36.70
52W Low
$24.43
52W Range
14%
Rank48Top 64.4%
3.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$243.95M+0.00%
4-Quarter Trend

EPS

$0.34+0.00%
4-Quarter Trend

FCF

$43.87M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Rises 8.5% Total revenue reached $755.2M in 2025, driven by 7.3% commission growth and 23.0% financing fee increase.
Adjusted EBITDA Surges Adjusted EBITDA was $24.611M in 2025, marking a 162.6% improvement over $9.372M reported in 2024.
Brokerage Volume Grows Total brokerage sales volume increased to $34.82B in 2025, supported by 1,577 investment sales professionals.
Professional Headcount Increases Investment sales professionals grew 5.6% to 1,808 by year-end 2025, reflecting talent acquisition strategy success.

Risk Factors

Continued Operating Losses Reported net loss of $(1.909)M in 2025, despite significant improvement from prior year's $(12.362)M loss.
Transaction Revenue Dependency Majority revenue derived from transaction fees, not long-term contracts, subject to external economic volatility.
Intense Professional Competition Competition for attracting and retaining qualified managers and sales professionals remains intense, requiring compensation investment.
CRE Market Headwinds Commercial real estate market conditions, inflation, and interest rate uncertainty pose material adverse effects on demand.

Outlook

Talent Acquisition Focus Strategy centers on investing in recruiting, hiring, training, and developing investment sales and financing professionals.
Capital Return Continuation Expect to continue declaring semi-annual regular dividends and executing stock repurchase program authorizations.
Technology Infrastructure Upgrade Continuous technology infrastructure upgrades required for competitiveness, demanding substantial resources without guaranteed returns.
Expanding Fellowship Program Expanded Fellowship Program to 22 major U.S. cities in 2025, reinforcing commitment to cultivating diverse talent.

Peer Comparison

Revenue (TTM)

HOUS stock ticker logoHOUS
$5.87B
+5.3%
FSV stock ticker logoFSV
$5.52B
+5.8%
REAX stock ticker logoREAX
$1.97B
+55.6%

Gross Margin (Latest Quarter)

HOUS stock ticker logoHOUS
81.2%
-0.2pp
RMAX stock ticker logoRMAX
57.8%
+0.8pp
MLP stock ticker logoMLP
38.6%
-1.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FSV$6.68B45.611.3%38.0%
HOUS$1.98B-15.4-8.4%54.2%
KW$1.51B319.00.3%68.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
18.9%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Deep Research

Next earnings:May 1, 2026
|
EPS:-$0.08
|
Revenue:$165.00M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data