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Marcus & Millichap MMI Non-cash lease expense

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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%
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

Reported directly by Marcus & Millichap in its filing.

Tagged under the XBRL concept mmi:NoncashLeaseExpense.

The official record: Marcus & Millichap’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Marcus & Millichap's non-cash lease expense?
Marcus & Millichap (MMI) reported non-cash lease expense of $5.18M in Q1 2026.
How has Marcus & Millichap's non-cash lease expense changed year-over-year?
Marcus & Millichap's non-cash lease expense decreased by 4.3% year-over-year, from $5.42M to $5.18M.
What is the long-term trend for Marcus & Millichap's non-cash lease expense?
Over 4 years (2021 to 2025), Marcus & Millichap's non-cash lease expense has grown at a -2.6% compound annual growth rate (CAGR), from $23.73M to $21.33M.
What does non-cash lease expense mean?
This represents the non-cash expense recognized for operating leases under accounting standards like ASC 842. It reflects the amortization of the right-of-use asset and is added back to net income because it does not involve an actual cash outflow during the period. Tracking this helps investors understand the underlying cash-generating capability of the business by isolating non-cash accounting charges.