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Marcus & Millichap MMI Operating margin

Operating margin at other companies

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4.4%+0.8pp
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4.7%+0.7pp
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Cushman & Wakefield CWK
4.4%+0.6pp
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Newmark Group, Inc.NMRK
8%+2.1pp
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28.5%+21.7pp
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LTC PropertiesLTC
41.8%+1.0pp

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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Gross margin38.1%
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.

Based on trailing twelve months.

The official record: Marcus & Millichap’s 10-Q, filed November 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Marcus & Millichap's operating margin?
Marcus & Millichap (MMI) reported operating margin of -9.1% in Q3 2024.
How has Marcus & Millichap's operating margin changed year-over-year?
Marcus & Millichap's operating margin decreased by 86.6% year-over-year, from -4.9% to -9.1%.
What is the long-term trend for Marcus & Millichap's operating margin?
Over 3 years (2020 to 2023), Marcus & Millichap's operating margin has grown at a 7.1% compound annual growth rate (CAGR), from 7.5% to -9.2%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.