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Marcus & Millichap MMI Business Segments — Operating Expenses

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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$1.2B+5.2%
Enterprise value$1.12B-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 us-gaap:OperatingExpenses.

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
Interest expense140200293387
Other income(4,192)(5,498)(7,955)(9,477)
Income tax expense (benefit)2,3567,2883,290(2,209)
Total net expenses199,006183,311373,573332,771
Segment net income (loss)3,909(11,035)809(15,457)
Adjustments and reconciling items
Consolidated net income (loss)$3,909$(11,035)$809$(15,457)
Other specified segment disclosures:

Item 1. Financial Statements

FAQ

What is Marcus & Millichap's business segments — operating expenses?
Marcus & Millichap (MMI) reported business segments — operating expenses of $199.01M in Q2 2026.
How has Marcus & Millichap's business segments — operating expenses changed year-over-year?
Marcus & Millichap's business segments — operating expenses increased by 8.6% year-over-year, from $183.31M to $199.01M.
What is the long-term trend for Marcus & Millichap's business segments — operating expenses?
Over 3 years (2022 to 2025), Marcus & Millichap's business segments — operating expenses has grown at a -14.2% compound annual growth rate (CAGR), from $1.2B to $757.07M.
What does business segments — operating expenses mean?
Encompasses all costs incurred by the reportable segment to conduct its day-to-day business, including personnel, marketing, and administrative overhead. This metric is a primary measure of the segment's operational efficiency and cost management discipline. Investors use this to evaluate the scalability of the business model relative to revenue generation.

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