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Marcus & Millichap

MMI

Marcus & Millichap is a leading real estate services firm specializing in commercial investment sales, financing, and advisory services.

Market cap
$1.18B-3.7%
Revenue$781.6M+9.8%
Net income-$18.3M+41.2%
Free cash flow$82.6M+527%
EPS (diluted)-$0.46+43.2%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$194.3M
EPS estimate$0.03

Financials

Q1 2026

Income statement

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Revenue$171.5M+18.2%
Operating income-$5.8M+67.4%
Net income-$3.1M+29.9%
EPS (diluted)-$0.08+27.3%

Balance sheet

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Cash & equivalents$136.5M-8.8%
Total debt$75.0M-10.6%
Total equity$569.1M-7.9%
Total assets$755.0M-5.9%

Cash flow

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Operating cash flow-$27.6M+47.8%
CapEx$3.0M+99.5%
Free cash flow-$30.5M+43.8%

Valuation & ratios

Valuation

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Market cap$1.18B-3.7%
Enterprise value$1.11B-9.2%
P/S1.5×-0.2×

Profitability

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FCF margin10.6%+8.7pp

Returns & leverage

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Debt / equity0.1×0.0×
Current ratio2.6×-1.1×

Segments

By product

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Real estate brokerage commissions$138.1M+11.7%
Financing fees$26.8M+48.1%
Other revenue$6.5M+98.1%

By segment

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Reportable Segment$171.5M+18.2%

Competitors

Profile

Marcus & Millichap is a leading real estate services firm specializing in commercial investment sales, financing, and advisory services. The company primarily serves the private client market, focusing on transactions between $1 million and $10 million, which represents the most active segment of the U.S. commercial property market. Its value proposition is built on a national platform that integrates brokerage and capital markets expertise with proprietary technology to match buyers and sellers.

Competitive position

The company is the leading national investment brokerage firm in the $1 million to $10 million private client market, which is less volatile than the institutional market.

GeographiesUnited States, Canada
Customer segmentsPrivate Client Market, Middle Market, Institutional Investors
Business modelCommission-based brokerage, Fee-for-service advisory, Financial intermediation
SuppliersIndependent contractor sales professionals, Proprietary technology platforms (MNet), Third-party capital providers, Market data providers
CustomersPrivate real estate investors, Commercial property developers, Institutional real estate funds, Government agencies (Fannie Mae/Freddie Mac)
Listed2013
Employees2.6K
CEOHessam Nadji
FilingsSEC EDGAR

Questions, answered.

What is Marcus & Millichap's market cap?
Marcus & Millichap (MMI) has a market capitalization of $1.2B and trades on NYSE.
What is Marcus & Millichap's revenue and profitability?
Marcus & Millichap generated $781.6M in trailing twelve-month revenue with a net loss of $18.3M, representing a net margin of -5.0%. Gross margin stands at 38.1%, with free cash flow of $82.6M. These figures are based on the Q1 2026 filing.
Who are Marcus & Millichap's competitors?
Marcus & Millichap's key competitors include Jones Lang LaSalle Incorporated, CBRE Group, Inc., Cushman & Wakefield plc, and others. These companies compete in similar markets and product categories.
Who does Marcus & Millichap partner with?
Marcus & Millichap's notable partners include M&T Realty Capital Corporation, Fannie Mae, Freddie Mac.
What subsidiaries does Marcus & Millichap have?
Marcus & Millichap's subsidiaries include Marcus & Millichap Capital Corporation, Marcus & Millichap Real Estate Investment Services, Inc..
Where is Marcus & Millichap headquartered?
Marcus & Millichap is headquartered in United States of America and employs approximately 2,590 people. It has been publicly traded since 2013.