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Marcus & Millichap MMI Cost of services — Cost of Services

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Other financials

Income statement

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Revenue$202.9M+17.8%
Operating income$2.2M+124%
Net income$3.9M+135%
EPS (diluted)$0.10+136%

Balance sheet

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Cash & equivalents$153.5M+78.6%
Total debt$74.2M-10.0%
Total equity$578.9M-4.7%
Total assets$765.8M-3.3%

Cash flow

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Operating cash flow-$27.6M+47.8%
CapEx$945.0K-45.5%
Free cash flow-$30.5M+43.8%

Valuation

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Market cap$1.19B+5.2%
Enterprise value$1.11B-1.5%
P/S1.5×-0.1×

Profitability

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Gross margin38.1%
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 ratio2.9×-0.6×

Where this comes from

Reported directly by Marcus & Millichap in its filing.

Tagged under the XBRL concept mmi:ServicesCost.

The source filing: Marcus & Millichap’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:59 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054439
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Other revenue5,6474,60012,1567,886
Total revenue202,915172,276374,382317,314
Operating expenses:
Cost of services126,666106,618230,303194,966
Selling, general and administrative71,68871,550142,903143,102
Depreciation and amortization2,3483,1534,7396,002
Total operating expenses200,702181,321377,945344,070
Operating income (loss)2,213(9,045)(3,563)(26,756)

Item 1. Financial Statements

FAQ

What is Marcus & Millichap's cost of services — cost of services?
Marcus & Millichap (MMI) reported cost of services — cost of services of $126.67M in Q2 2026.
How has Marcus & Millichap's cost of services — cost of services changed year-over-year?
Marcus & Millichap's cost of services — cost of services increased by 18.8% year-over-year, from $106.62M to $126.67M.
What is the long-term trend for Marcus & Millichap's cost of services — cost of services?
Over 3 years (2022 to 2025), Marcus & Millichap's cost of services — cost of services has grown at a -17.9% compound annual growth rate (CAGR), from $850.89M to $470.49M.
What does cost of services — cost of services mean?
This metric represents the direct variable expenses incurred to generate revenue from commercial real estate brokerage and financing activities. It primarily consists of commission payouts to investment professionals and compensation-related costs tied directly to transaction volume. Monitoring this figure helps investors assess the variable cost structure and operating leverage inherent in the firm's transaction-based business model.

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