Marcus & Millichap, Inc. MMI R2K

Real Estate · Real Estate Services · United States

https://www.marcusmillichap.com

Marcus & Millichap, Inc., an investment brokerage company, provides commercial real estate investment sales, financing services, research and advisory services in the United States and Canada. The company offers research on various property types comprising multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets/financing. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, preferred equity, and securitization services, as well as loan sales and due diligence services to commercial real estate owners, developers, and investors. In addition, the company offers a way to buy and sell commercial property as a complement to its traditional property marketing channels. Further, it provides 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; and leasing services for tenants and/or landlords in connection with commercial real estate leases. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California.

Market & Price

Market Cap

$1.07B

Current Price

$28.24

High / Low (52W)

$32.62 / $24.77

Beta

1.26

Valuation

Stock P/E

Industry PE

26.58

Forward P/E

31.38

PEG Ratio

Book Value

$15.05

Price to Book

1.88

P/S

1.37

EV/EBITDA

84.68

Dividend Yield

1.77%

Profitability & Returns

ROCE

0.54%

ROE

-0.10%

ROA

-0.03%

Profit Margin

-0.07%

Op Margin

-3.30%

EPS (Latest Qtr)

$-0.08

EPS (TTM)

$-0.02

Balance Sheet & Liquidity

Debt/Equity

0.13

Quick Ratio

2.23

Current Ratio

2.65

Debt

$75.03M

Total Assets

$827.18M

Current Assets

$309.21M

Working Capital

$187.76M

Ownership

Promoter Holding

3.86%

Chg in Prom Hold

FII / Inst Holding

97.07%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$955.42M

Total Revenue (TTM)

$781.59M

EBITDA

$11.28M

Free Cash Flow

$35.52M

Operating Cash Flow

$91.93M

Shares Outstanding

37.82M

Gross Margin

37.85%

Payout Ratio

135.14%

Growth (CAGR)

Revenue 5Y

-16.60%

Profit 5Y

-33.94%

Revenue (YoY)

18.20%

Earnings (YoY)

PROS

Generates positive free cash flow.

CONS

Revenue declined at -16.6% CAGR over 5 years.
Earnings shrank at -33.9% CAGR over 5 years.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Real Estate).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	MMI Marcus & Millichap, Inc. R2K	28.24	-	$1.07B	1.77%	0.54%	-0.10%	-16.60%	-33.94%
2	WELL Welltower Inc. SPX	205.33	99.19	$144.95B	1.44%	0.26%	3.67%	22.69%	87.90%
3	PLD Prologis, Inc. SPX	143.47	36.14	$133.76B	2.98%	4.94%	6.84%	13.74%	-0.36%
4	EQIX Equinix, Inc. SPX	1,068.04	74.07	$105.33B	1.84%	5.61%	10.06%	8.27%	24.18%
5	AMT American Tower Corporation SPX	186.96	30.11	$87.10B	3.73%	7.82%	29.95%	3.34%	12.73%
6	SPG Simon Property Group, Inc. SPX	204.91	14.25	$77.86B	4.29%	17.44%	113.59%	6.35%	29.32%
7	DLR Digital Realty Trust, Inc. SPX	190.00	50.53	$67.96B	2.57%	3.99%	5.69%	9.22%	51.32%
8	O Realty Income Corporation SPX	61.28	50.23	$57.14B	5.30%	3.27%	2.83%	19.80%	6.78%
9	PSA Public Storage SPX	303.69	31.34	$53.31B	3.95%	10.69%	20.18%	4.88%	-25.69%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	180.37M	183.34M	-	174.54M	199.40M	210.59M	-	160.71M	209.59M	198.22M	237.91M	190.72M	117.40M	158.57M	250.21M	183.98M	284.95M	332.38M	319.46M	395.96M	323.84M	154.79M	162.87M	162.03M	129.10M	158.37M	168.51M	145.04M	172.28M	193.89M	243.95M	171.47M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88.35M	106.62M	121.00M	154.52M	103.64M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56.69M	65.66M	72.90M	89.43M	67.83M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74.40M	74.70M	75.27M	74.01M	73.61M
Operating Income	29.53M	27.42M	33.93M	24.86M	28.83M	24.91M	27.91M	19.05M	25.00M	24.68M	27.40M	23.46M	28.95M	27.38M	32.49M	18.27M	26.98M	24.07M	27.10M	19.64M	-2.61M	6.54M	30.05M	20.20M	41.60M	45.67M	44.25M	56.74M	30.55M	-16.06M	-10.68M	-15.43M	-20.10M	-8.05M	-11.46M	-17.71M	-9.04M	-2.37M	15.42M	-5.78M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10.88M	-394.00K	4.41M	22.76M	378.00K
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187.00K	200.00K	197.00K	189.00K	153.00K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13.92M	-3.75M	1.47M	19.22M	-2.17M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9.50M	7.29M	1.23M	5.91M	934.00K
Net Income	17.56M	15.18M	19.95M	14.81M	17.52M	15.14M	17.17M	12.00M	15.57M	15.47M	8.48M	18.01M	22.17M	20.85M	26.23M	15.64M	21.28M	19.29M	20.72M	13.07M	106.00K	6.04M	23.62M	15.01M	31.53M	33.92M	32.78M	42.17M	21.36M	-5.83M	-8.73M	-9.24M	-9.99M	-5.54M	-5.38M	-4.42M	-11.04M	240.00K	13.31M	-3.10M
Diluted EPS	0.45	0.39	0.51	0.38	0.45	0.39	0.44	0.31	0.40	0.39	0.22	0.46	0.56	0.53	0.66	0.40	0.54	0.49	0.52	0.33	0.00	0.15	0.59	0.37	0.78	0.84	0.81	1.04	0.53	-0.15	-0.23	-0.24	-0.26	-0.14	-0.14	-0.11	-0.28	0.01	0.34	-0.08

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	717.45M	719.70M	814.82M	806.43M	716.91M	1.30B	1.30B	645.93M	696.06M	755.16M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	850.89M	406.64M	431.47M	470.49M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	450.82M	239.28M	264.59M	284.67M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	313.42M	298.65M	297.50M	298.38M
Operating Income	23.45M	49.01M	21.29M	84.61M	114.65M	106.50M	96.13M	112.29M	96.42M	53.61M	189.36M	137.40M	-59.37M	-32.91M	-13.71M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	156.14M	-25.89M	4.37M	15.89M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	708.00K	888.00K	812.00K	773.00K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	142.03M	-40.40M	-13.03M	3.02M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	37.80M	-6.37M	-666.00K	4.93M
Net Income	13.45M	27.93M	8.21M	49.53M	66.35M	64.66M	51.52M	87.26M	76.93M	42.84M	142.47M	104.22M	-34.03M	-12.36M	-1.91M
Diluted EPS	-	-	0.24	1.27	1.69	1.66	1.32	2.22	1.95	1.08	3.55	2.59	-0.88	-0.32	-0.05

Compounded Sales Growth

5 Years:	-16.60%
1 Year:	18.20%

Compounded Profit Growth

5 Years:	-33.94%
1 Year:	-

Stock Price Performance

1 Year:	-0.26%
6 Months:	-4.42%
3 Months:	+7.96%
1 Month:	+0.82%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Oct 2013	Dec 2013	Jan 2014	Dec 2014	Jan 2015	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	89.73M	-	167.31M	-	233.60M	-	321.23M	394.02M	459.66M	566.38M	709.03M	779.12M	-	1.00B	878.41M	869.80M	827.18M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	527.14M	393.69M	410.32M	309.21M
Cash & Equivalents	4.93M	3.16M	3.11M	-	100.95M	100.95M	149.16M	149.16M	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	-	235.87M	170.75M	153.44M	161.92M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.45M	16.17M	18.80M	14.85M
Total Liabilities	-	-	68.10M	-	104.81M	-	116.80M	-	132.24M	135.16M	144.78M	156.81M	214.13M	232.29M	-	290.20M	233.14M	238.98M	224.08M
Current Liabilities	-	-	54.45M	-	56.76M	-	67.20M	-	75.01M	78.18M	83.26M	92.86M	101.81M	120.32M	-	152.01M	105.27M	133.02M	121.45M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	82.09M	87.74M	84.22M	78.25M
Total Equity	21.70M	20.16M	21.63M	52.97M	62.50M	62.50M	116.81M	116.81M	188.99M	258.85M	314.89M	409.57M	494.87M	546.84M	-	713.51M	645.27M	630.82M	603.10M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.26M	38.41M	38.86M	38.42M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	17.82M	35.35M	96.94M	-	-	74.49M	66.54M	117.31M	25.29M	38.09M	-	13.63M	-72.43M	21.71M	66.66M
Investing Cash Flow	-2.67M	-4.64M	-4.02M	-	-	19.82M	-27.34M	-117.98M	-3.42M	-17.23M	-	-53.98M	74.87M	-9.90M	-3.82M
Financing Cash Flow	-16.92M	-30.77M	4.92M	-	-	-3.12M	-5.78M	-5.44M	-3.88M	-10.33M	-	-105.56M	-67.68M	-28.75M	-54.58M
Capital Expenditure	-3.08M	-4.56M	-4.79M	-2.57M	-6.80M	-9.47M	-6.55M	-8.07M	-8.81M	-6.95M	-	-11.67M	-9.37M	-7.87M	-7.87M
Free Cash Flow	14.73M	30.79M	92.15M	-	-	65.01M	59.98M	109.24M	16.48M	31.14M	-	1.96M	-81.80M	13.84M	58.78M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-145.90M	-65.24M	-16.94M	8.26M
Share Buybacks	131.00K	-	-	-	-	-	-	-	-	0	0	29.05M	39.44M	785.00K	25.37M
Dividends Paid	16.53M	30.76M	37.68M	-	-	-	-	-	-	0	0	60.36M	20.10M	20.23M	20.55M

Ratios (Annual)

Figures in %.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	34.6%	37.0%	38.0%	37.7%
Operating Margin %	-	-	-	-	-	14.8%	13.4%	13.8%	12.0%	7.5%	14.6%	10.6%	-9.2%	-4.7%	-1.8%
Net Margin %	-	-	-	-	-	9.0%	7.2%	10.7%	9.5%	6.0%	11.0%	8.0%	-5.3%	-1.8%	-0.3%
ROE %	66.7%	129.1%	13.1%	42.4%	35.1%	25.0%	16.4%	21.3%	15.5%	7.8%	-	14.6%	-5.3%	-2.0%	-0.3%
ROCE %	-	138.9%	19.3%	50.8%	46.6%	33.7%	25.5%	23.7%	15.9%	8.1%	-	16.1%	-7.7%	-4.5%	-1.9%

Shareholding Pattern

Insiders

3.86%

Institutions

97.07%

Public Float

100.96%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	10.39%	3.93M	$110.98M
2	Vanguard Portfolio Management LLC	6.79%	2.57M	$72.52M
3	Pzena Investment Management LLC	5.32%	2.01M	$56.84M
4	Dimensional Fund Advisors LP	3.92%	1.48M	$41.85M
5	Vanguard Capital Management LLC	2.80%	1.06M	$29.92M
6	State Street Corporation	2.48%	938.22K	$26.50M
7	Schroder Investment Management Group	2.46%	930.90K	$26.29M
8	Tributary Capital Management, LLC	2.02%	762.47K	$21.53M
9	Geode Capital Management, LLC	1.71%	645.15K	$18.22M
10	Royce & Associates LP	1.35%	511.69K	$14.45M

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