MMINYSEReal Estate Agents & Managers (For Others)Fiscal year ends December 31
Marcus & Millichap, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$27.34−0.70 (-2.50%)
Close on Oct 19, 2026
- Market cap
- $1.04B
- P/E (TTM)
- 73.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
-1.8%−9.3 pts over 5 years
Net margin
-0.3%−6.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.5% | -16.6% | +1.0% | +0.9% | |
| Free cash flow | +324.7% | +210.5% | +13.5% | -1.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 28.9% | 8.2% | -0.3% | |
| Return on assets | 18.1% | 5.8% | -0.2% | |
| Current ratio | 2.99 | 3.57 | 2.55 | |
| Interest coverage | 69.5× | 59.6× | -17.7× | |
| Capex to revenue | 1.3% | 1.0% | 1.0% | |
| Diluted shares | 39M | 40M | 39M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Marcus & Millichap generated $430.33M from operations and spent $259.52M on capital expenditure, dividends and share buybacks. 17% of that went back into the business.
Generated
$430.33M
Used
$259.52M
Capital expenditure$43.64M17%Dividends$121.24M47%Share buybacks$94.65M36%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-0.3%
×Asset turnover0.89×
×Equity multiplier1.38×
=Return on equity, FY2025-0.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -0.3% | 0.89× | 1.38× | -0.3% |
| FY2024 | -1.8% | 0.80× | 1.37× | -1.9% |
| FY2023 | -5.3% | 0.69× | 1.39× | -5.0% |
| FY2022 | 8.0% | 1.27× | 1.45× | 14.8% |
| FY2021 | 11.0% | 1.42× | 1.47× | 22.9% |
| FY2020 | 6.0% | 0.96× | 1.43× | 8.2% |
| FY2019 | 9.5% | 1.26× | 1.41× | 17.0% |
| FY2018 | 10.7% | 1.59× | 1.42× | 24.1% |
| FY2017 | 7.2% | 1.69× | 1.49× | 18.0% |
| FY2016 | 9.0% | 2.01× | 1.60× | 28.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$1.91M
- Cash generatingOperating cash flow above zero$66.66M
- Return on assets improvedROA up on the prior year-1.4% → -0.2%
- Earnings backed by cashOperating cash flow above net income$66.66M vs -$1.91M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.08 → 2.55
- No dilutionShare count did not rise39M → 39M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.79 → 0.87