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MARKETS / NYSE / MMI
NYSE · REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) · LARGE CAP

Marcus & Millichap, Inc. MMI

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$755.2M
▲ 8.5% YoY
$-1.9M
$58.8M
▲ 324.7% YoY
In brief

What this company does

Marcus & Millichap specializes in commercial real estate investment sales, financing services, research and advisory services. As of December 31, 2025, it had 1,808 investment sales and financing professionals, primarily commission-based independent contractors, who provide real estate investment brokerage and financing services to sellers and buyers of commercial real estate in over 80 offices in the United States and Canada. In 2025, it closed 8,818 sales, financing, and other transactions with total sales volume of approximately $50.8 billion. In 2025, approximately 84% of its revenues were generated from real estate brokerage commissions, 14% from financing fees, and 2% from other revenue, including consulting and advisory services. Marcus & Millichap Capital Corporation is a financial intermediary that provides commercial real estate capital markets solutions to commercial real estate owners, developers, and investors. Its research division produces more than 1,500 publications and client presentations per year, covering 10 commercial property types. As of December 31, 2025, Marcus & Millichap had 854 employees, consisting of 91 employees who serve as financing professionals, 70 employees in communications and marketing, 21 employees in research and 672 employees in management, support and general and administrative functions. Marcus & Millichap, Inc. was formed in June 2013 in preparation for the spin-off of Marcus & Millichap Real Estate Investment Services, Inc., the real estate investment services business of the Marcus & Millichap Company, which was founded in 1971.

Written from the business description in MARCUS & MILLICHAP, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 755.2M
Revenue, FY2025 · full 15-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.8 · Net income -0.0
0.5B1.0B20112013201520172019202120232025
Compound annual growth
−16.6%
+1.0%
+0.9%
−19.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +1.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−0 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1.8% · Net -0.3%
5%10%15%-5%20112013201520172019202120232025
ROE
FY2025 · ROE -0.3%
50%100%20112013201520172019202120232025

Each USD of equity lost 0 cents this year.

Cash & shareholders
USD 45.9M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 58.8
100M200M-40M-80M20112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 20.6 · Net buybacks 25.4
40M80MDividendsNet buybacks201120122013202020212022202320242025

USD 20.6M in dividends and USD 25.4M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 827.2M
EquityUSD 603.1M
CashUSD 161.9M
Current ratio2.55×

Equity funds 73% of total assets.

The 15-year record
15 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2012 and 2014, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue $B0.80.70.61.31.30.70.80.80.70.70.70.60.40.40.3
Operating income $B−0.0−0.0−0.10.10.20.10.10.10.10.10.10.10.00.00.0
EBITDA $B−0.0−0.0−0.10.10.2··········
Income tax $B0.0−0.0−0.00.00.10.00.00.00.00.00.00.00.00.00.0
Net income $B−0.0−0.0−0.00.10.10.00.10.10.10.10.10.00.00.00.0
Free cash flow $B0.10.0−0.10.00.20.00.00.10.10.10.10.10.10.00.0
EPS, diluted $−0.05−0.32−0.882.593.551.081.952.221.321.661.691.270.24··
Dividend / sh $···············
Payout %−1076−164−595800······459110123
ROE %−0.3−1.9−5.014.822.98.217.024.118.028.943.455.219.5133.766.7
Shares out B0.040.040.040.040.040.040.040.040.040.040.040.040.000.00·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 56 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 31 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivityReal Estate Agents & Managers (For Others)
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2011

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