MMI
Marcus & Millichap, Inc.
Real Estate - Services
Market Cap$1.09B
5Y Perf.+4.0%
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Stock Comparison
MMI vs CWK
Revenue, margins, valuation, and 5-year total return — side by side.
CWK
Cushman & Wakefield plc
Real Estate - Services
Market Cap$3.40B
5Y Perf.+41.8%
MMI vs CWK — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MMI | CWK |
|---|---|---|
| Industry | Real Estate - Services | Real Estate - Services |
| Market Cap | $1.09B | $3.40B |
| Revenue (TTM) | $755M | $10.29B |
| Net Income (TTM) | $-2M | $88M |
| Gross Margin | 37.7% | 17.3% |
| Operating Margin | -1.8% | 4.4% |
| Forward P/E | 58.5x | 10.1x |
| Total Debt | $78M | $3.24B |
| Cash & Equiv. | $162M | $784M |
MMI vs CWK — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MMI
CWK
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Marcus & Millichap,… (MMI) | 100 | 104.0 | +4.0% |
| Cushman & Wakefield… (CWK) | 100 | 141.8 | +41.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MMI vs CWK
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CWK leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Marcus & Millichap, Inc. is the stronger pick specifically for capital preservation and lower volatility and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
MMI
Marcus & Millichap, Inc.
The Real Estate Income Play
MMI is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 2 yrs, beta 1.03, yield 1.8%
- 29.8% 10Y total return vs CWK's -18.4%
- Lower volatility, beta 1.03, Low D/E 13.0%, current ratio 2.55x
Best for: income & stability and long-term compounding
CWK
Cushman & Wakefield plc
The Real Estate Income Play
CWK carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 8.9%, EPS growth -32.1%, 3Y rev CAGR 0.6%
- 8.9% FFO/revenue growth vs MMI's 8.5%
- Lower P/E (10.1x vs 58.5x)
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CWK | 8.9% FFO/revenue growth vs MMI's 8.5% |
| Value | CWK | Lower P/E (10.1x vs 58.5x) |
| Quality / Margins | CWK | 0.9% margin vs MMI's -0.3% |
| Stability / Safety | MMI | Beta 1.03 vs CWK's 1.90, lower leverage |
| Dividends | MMI | 1.8% yield; 2-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | CWK | +45.2% vs MMI's -3.9% |
| Efficiency (ROA) | CWK | 1.2% ROA vs MMI's -0.2%, ROIC 7.9% vs -1.9% |
MMI vs CWK — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
MMI vs CWK — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCWKLAGGINGMMI
MMIMarcus & Millichap, I…
1leads
CWKCushman & Wakefield p…
2leads
6 Total Categories
CATEGORYLEADERvs MMIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
CWK4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CWK5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
MMI2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — MMI and CWK each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CWK is the larger business by revenue, generating $10.3B annually — 13.6x MMI's $755M. Profitability is closely matched — net margins range from 0.9% (CWK) to -0.3% (MMI). On growth, CWK holds the edge at +10.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| RevenueTrailing 12 months | $755M | $10.3B |
| EBITDAEarnings before interest/tax | -$2M | $556M |
| Net IncomeAfter-tax profit | -$2M | $88M |
| Free Cash FlowCash after capex | $59M | $307M |
| Gross MarginGross profit ÷ Revenue | +37.7% | +17.3% |
| Operating MarginEBIT ÷ Revenue | -1.8% | +4.4% |
| Net MarginNet income ÷ Revenue | -0.3% | +0.9% |
| FCF MarginFCF ÷ Revenue | +7.8% | +3.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +1.6% | +10.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +54.5% | -120.5% |
Evenly matched — MMI and CWK each lead in 3 of 6 comparable metrics.
Valuation Metrics
CWK leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| Market CapShares × price | $1.1B | $3.4B |
| Enterprise ValueMkt cap + debt − cash | $1.0B | $5.9B |
| Trailing P/EPrice ÷ TTM EPS | -585.10x | 38.24x |
| Forward P/EPrice ÷ next-FY EPS est. | 58.51x | 10.06x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 10.42x |
| Price / SalesMarket cap ÷ Revenue | 1.45x | 0.33x |
| Price / BookPrice ÷ Book value/share | 1.85x | 1.74x |
| Price / FCFMarket cap ÷ FCF | 18.57x | 11.62x |
CWK leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
CWK leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
CWK delivers a 4.6% return on equity — every $100 of shareholder capital generates $5 in annual profit, vs $-0 for MMI. MMI carries lower financial leverage with a 0.13x debt-to-equity ratio, signaling a more conservative balance sheet compared to CWK's 1.66x. On the Piotroski fundamental quality scale (0–9), CWK scores 6/9 vs MMI's 5/9, reflecting solid financial health.
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| ROE (TTM)Return on equity | -0.3% | +4.6% |
| ROA (TTM)Return on assets | -0.2% | +1.2% |
| ROICReturn on invested capital | -1.9% | +7.9% |
| ROCEReturn on capital employed | -1.9% | +7.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.13x | 1.66x |
| Net DebtTotal debt minus cash | -$84M | $2.5B |
| Cash & Equiv.Liquid assets | $162M | $784M |
| Total DebtShort + long-term debt | $78M | $3.2B |
| Interest CoverageEBIT ÷ Interest expense | 4.91x | 1.53x |
CWK leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — MMI and CWK each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MMI five years ago would be worth $8,879 today (with dividends reinvested), compared to $8,289 for CWK. Over the past 12 months, CWK leads with a +45.2% total return vs MMI's -3.9%. The 3-year compound annual growth rate (CAGR) favors CWK at 22.1% vs MMI's -1.2% — a key indicator of consistent wealth creation.
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| YTD ReturnYear-to-date | +7.2% | -8.3% |
| 1-Year ReturnPast 12 months | -3.9% | +45.2% |
| 3-Year ReturnCumulative with dividends | -3.5% | +82.1% |
| 5-Year ReturnCumulative with dividends | -11.2% | -17.1% |
| 10-Year ReturnCumulative with dividends | +29.8% | -18.4% |
| CAGR (3Y)Annualised 3-year return | -1.2% | +22.1% |
Evenly matched — MMI and CWK each lead in 3 of 6 comparable metrics.
Risk & Volatility
MMI leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MMI is the less volatile stock with a 1.03 beta — it tends to amplify market swings less than CWK's 1.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.03x | 1.90x |
| 52-Week HighHighest price in past year | $33.62 | $17.40 |
| 52-Week LowLowest price in past year | $24.43 | $9.43 |
| % of 52W HighCurrent price vs 52-week peak | +85.3% | +83.5% |
| RSI (14)Momentum oscillator 0–100 | 51.7 | 51.2 |
| Avg Volume (50D)Average daily shares traded | 230K | 1.5M |
MMI leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates MMI as "Hold" and CWK as "Hold". Consensus price targets imply 29.4% upside for CWK (target: $19) vs -9.3% for MMI (target: $26). MMI is the only dividend payer here at 1.84% yield — a key consideration for income-focused portfolios.
| Metric | MMIMarcus & Millicha… | CWKCushman & Wakefie… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $26.00 | $18.80 |
| # AnalystsCovering analysts | 4 | 16 |
| Dividend YieldAnnual dividend ÷ price | +1.8% | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | $0.53 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.3% | +0.3% |
Insufficient data to determine a leader in this category.
Key Takeaway
CWK leads in 2 of 6 categories (Valuation Metrics, Profitability & Efficiency). MMI leads in 1 (Risk & Volatility). 2 tied.
Best OverallCushman & Wakefield plc (CWK)Leads 2 of 6 categories
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MMI vs CWK: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MMI or CWK a better buy right now?
For growth investors, Cushman & Wakefield plc (CWK) is the stronger pick with 8.
9% revenue growth year-over-year, versus 8. 5% for Marcus & Millichap, Inc. (MMI). Cushman & Wakefield plc (CWK) offers the better valuation at 38. 2x trailing P/E (10. 1x forward), making it the more compelling value choice. Analysts rate Marcus & Millichap, Inc. (MMI) a "Hold" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MMI or CWK?
On forward P/E, Cushman & Wakefield plc is actually cheaper at 10.
1x.
03Which is the better long-term investment — MMI or CWK?
Over the past 5 years, Marcus & Millichap, Inc.
(MMI) delivered a total return of -11. 2%, compared to -17. 1% for Cushman & Wakefield plc (CWK). Over 10 years, the gap is even starker: MMI returned +29. 8% versus CWK's -18. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MMI or CWK?
By beta (market sensitivity over 5 years), Marcus & Millichap, Inc.
(MMI) is the lower-risk stock at 1. 03β versus Cushman & Wakefield plc's 1. 90β — meaning CWK is approximately 85% more volatile than MMI relative to the S&P 500. On balance sheet safety, Marcus & Millichap, Inc. (MMI) carries a lower debt/equity ratio of 13% versus 166% for Cushman & Wakefield plc — giving it more financial flexibility in a downturn.
05Which is growing faster — MMI or CWK?
By revenue growth (latest reported year), Cushman & Wakefield plc (CWK) is pulling ahead at 8.
9% versus 8. 5% for Marcus & Millichap, Inc. (MMI). On earnings-per-share growth, the picture is similar: Marcus & Millichap, Inc. grew EPS 84. 7% year-over-year, compared to -32. 1% for Cushman & Wakefield plc. Over a 3-year CAGR, CWK leads at 0. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MMI or CWK?
Cushman & Wakefield plc (CWK) is the more profitable company, earning 0.
9% net margin versus -0. 3% for Marcus & Millichap, Inc. — meaning it keeps 0. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CWK leads at 4. 5% versus -1. 8% for MMI. At the gross margin level — before operating expenses — MMI leads at 37. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MMI or CWK more undervalued right now?
On forward earnings alone, Cushman & Wakefield plc (CWK) trades at 10.
1x forward P/E versus 58. 5x for Marcus & Millichap, Inc. — 48. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CWK: 29. 4% to $18. 80.
08Which pays a better dividend — MMI or CWK?
In this comparison, MMI (1.
8% yield) pays a dividend. CWK does not pay a meaningful dividend and should not be held primarily for income.
09Is MMI or CWK better for a retirement portfolio?
For long-horizon retirement investors, Marcus & Millichap, Inc.
(MMI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 03), 1. 8% yield). Cushman & Wakefield plc (CWK) carries a higher beta of 1. 90 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (MMI: +29. 8%, CWK: -18. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MMI and CWK?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
MMI pays a dividend while CWK does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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