What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

Marcus & Millichap MMI Gross margin

Discontinued — last reported Q4 '19

Gross margin at other companies

CBRE GroupCBRE

18.4%-0.9pp

Cushman & Wakefield CWK

18.2%-0.2pp

CenterspaceCSR

96.5%0.0pp

CoStar GroupCSGP

78.6%-1.1pp

Other financials

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

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Market cap$1.12B-6.3%

Enterprise value$1.06B-6.3%

P/S1.4×-0.2×

Profitability

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Operating margin-9.1%+59.1pp

Net margin-5%-19.8pp

FCF margin10.6%+8.7pp

Returns & leverage

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Return on equity-4.9%-44.5pp

Debt / equity0.1×0.0×

Current ratio2.6×-1.1×

Where this comes from

Calculated from Marcus & Millichap’s reported figures.

gross profit/total revenue=38.1%

Based on trailing twelve months.

The official record: Marcus & Millichap’s 10-Q, filed November 5, 2021, on SEC EDGAR. View the filing →

Questions, answered.

What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.