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Marcus & Millichap MMI Q3 2025 earnings

Reported November 7, 2025 · Before market open

Revenue$193.9MMiss by $45.8M
EPS$0.09Miss by $0.15
Revenue estimate$239.7M
EPS estimate$0.24

Next report

Nov 6, 2026 (in 2 months)
Revenue estimate$205.1M
EPS estimate$0.11

Financials

Q3 2025

Income statement

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Revenue$193.9M+15.1%
Operating income-$2.4M+79.3%
Net income$240.0K+104%
EPS (diluted)$0.01+107%

Balance sheet

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Cash & equivalents$117.4M-32.1%
Total debt$78.6M-7.4%
Total equity$602.2M-2.5%
Total assets$812.5M-2.5%

Cash flow

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Operating cash flow$52.2M—
CapEx$2.3M+10.0%
Free cash flow$50.0M+279%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$1.14B-25.3%
Enterprise value$1.11B-23.5%
P/S1.5×-0.9×

Profitability

See full
FCF margin9.3%—

Returns & leverage

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Debt / equity0.1×0.0×
Current ratio2.7×-0.4×

Segments

By product

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Real estate brokerage commissions$162.2M+14.2%
Financing fees$26.3M+27.7%
Other revenue$5.4M-8.8%

By segment

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Reportable Segment$193.9M+15.1%

FAQ

When did Marcus & Millichap report Q3 2025 earnings?
Marcus & Millichap (MMI) reported Q3 2025 earnings on November 7, 2025 before market open.
What were Marcus & Millichap's Q3 2025 revenue and EPS?
Marcus & Millichap reported revenue of $193.9M and eps of $0.09 for Q3 2025.
Did Marcus & Millichap beat estimates in Q3 2025?
Revenue missed the consensus estimate of $239.7M by $45.8M. EPS missed the consensus estimate of $0.24 by $0.15.
How did Marcus & Millichap's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.1% from $168.5M a year earlier.
Where can I find Marcus & Millichap's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001628280-25-050398) and the 10-Q periodic report (0001628280-25-050707) directly on SEC EDGAR. The filing index links above go to sec.gov.