Marcus & Millichap, Inc. (MMI) 10-Year Financial Performance & Capital Metrics

MMI • • REIT / Real Estate

Real EstateReal Estate ServicesReal Estate Brokerage & Agency ServicesCommercial Brokerage Specialists

AboutMarcus & Millichap, Inc., an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, and preferred equity, as well as loan sales and consultative/due diligence services to commercial real estate owners, developers, investors, and capital providers. In addition, the company provides various ancillary services, including research, advisory, and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California.Show more

Revenue $696M +7.8%
FFO $4M +120.7%
FFO/Share 0.11 +120.7%
FFO Payout 478.5% +585.8%
FFO per Share 0.11 +120.7%
NOI Margin 38.01% +2.6%
FFO Margin 0.61% +119.2%
ROE -1.94% +61.3%
ROA -1.41% +60.9%
Debt/Assets 9.68% -3.1%
Net Debt/EBITDA -
Book Value/Share 16.31 -2.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 144.6% TTM

✗Weaknesses

✗Weak 3Y average ROE of 2.6%
✗Dividend exceeds FFO - may not be sustainable
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Low NOI margin of 38.0%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.98%

5Y-2.9%

3Y-18.72%

TTM20.74%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM78.59%

EPS CAGR

10Y-

5Y-

3Y-

TTM79.77%

ROCE

10Y Avg20.44%

5Y Avg7.77%

3Y Avg1.59%

Latest-4.36%

Peer Comparison

Commercial Brokerage Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MMIMarcus & Millichap, Inc.	1.06B	27.20	-85	7.76%	-0.89%	-1.11%	1.31%	0.13

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	689.05M	717.45M	719.7M	814.82M	806.43M	716.91M	1.3B	1.3B	645.93M	696.06M
Revenue Growth %	0.2%	0.04%	0%	0.13%	-0.01%	-0.11%	0.81%	0%	-0.5%	0.08%
Property Operating Expenses	423.39M	444.77M	446.56M	502.88M	498.88M	447.88M	840.21M	850.89M	406.64M	431.47M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	151.01M	166.18M	177.01M	199.65M	211.13M	215.41M	266.88M	313.42M	298.65M	297.5M
G&A Expenses	147.71M	161.79M	171.65M	193.35M	203.11M	204.51M	255.15M	300.01M	285.02M	280.91M
EBITDA+	117.96M	110.89M	101.5M	118.58M	104.44M	64.51M	201.08M	150.81M	-45.74M	-16.32M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	3.31M	4.39M	5.36M	6.3M	8.02M	10.9M	11.72M	13.41M	13.63M	16.59M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	114.65M	106.5M	96.13M	112.29M	96.42M	53.61M	189.36M	137.4M	-59.37M	-32.91M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	1.73M	1.53M	1.5M	1.4M	1.39M	900K	580K	708K	888K	812K
Interest Coverage	66.43x	69.47x	64.26x	80.21x	69.47x	59.57x	326.48x	194.07x	-66.86x	-40.53x
Non-Operating Income	-443K	-2.13M	-4.59M	-6.33M	-12.48M	-6.65M	-4.53M	-5.34M	-19.86M	-20.69M
Pretax Income+	113.37M	107.1M	99.23M	117.22M	107.51M	59.36M	193.3M	142.03M	-40.4M	-13.03M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	47.02M	42.45M	47.7M	29.96M	30.58M	16.53M	50.83M	37.8M	-6.37M	-666K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	66.35M	64.66M	51.52M	87.26M	76.93M	42.84M	142.47M	104.22M	-34.03M	-12.36M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.34%	-0.03%	-0.2%	0.69%	-0.12%	-0.44%	2.33%	-0.27%	-1.33%	0.64%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.32%	-0.01%	-0.18%	0.64%	-0.09%	-0.37%	1.87%	-0.24%	-1.17%	1.21%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.69	1.66	1.32	2.22	1.95	1.08	3.55	2.59	-0.88	-0.32
EPS Growth %	0.33%	-0.02%	-0.2%	0.68%	-0.12%	-0.45%	2.29%	-0.27%	-1.34%	0.64%
EPS (Basic)	1.71	1.66	1.32	2.23	1.95	1.08	3.57	2.61	-0.88	-0.32
Diluted Shares Outstanding	39.16M	39.03M	39.1M	39.38M	39.55M	39.73M	40.19M	40.19M	38.66M	38.68M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	321.23M	394.02M	459.66M	566.38M	709.03M	779.12M	1.05B	1B	878.41M	869.8M
Asset Growth %	0.38%	0.23%	0.17%	0.23%	0.25%	0.1%	0.34%	-0.04%	-0.12%	-0.01%
Real Estate & Other Assets+	9.12M	9.98M	23.16M	53.94M	100.57M	140.86M	126.54M	185.87M	201.64M	199.97M
PP&E (Net)	11.58M	16.36M	17.15M	19.55M	113.18M	107.46M	104.72M	115.59M	117.51M	107.26M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	196.11M	234.01M	320.43M	371.34M	410.17M	429.08M	608.13M	527.14M	393.69M	410.32M
Cash & Equivalents	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.12M	235.87M	170.75M	153.44M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	6.64M	4.05M	3.17M	2.54M	11.07M	7.12M	16K	0	19.58M	0
Intangible Assets	5.89M	7.04M	13.26M	6.13M	9.24M	20.57M	15.89M	17.78M	13.14M	5.92M
Total Liabilities	132.24M	135.16M	144.78M	156.81M	214.13M	232.29M	348.89M	290.2M	233.14M	238.98M
Total Debt+	10.61M	9.67M	8.69M	7.65M	87.48M	78.6M	77.31M	82.09M	87.74M	84.22M
Net Debt	-85.58M	-177.7M	-212.1M	-207.03M	-145.19M	-164.55M	-304.82M	-153.78M	-83.01M	-69.22M
Long-Term Debt	9.67M	8.69M	7.65M	6.56M	0	0	0	0	0	0
Short-Term Borrowings	939K	986K	1000K	1000K	1000K	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	80.92M	78.6M	77.31M	82.09M	87.74M	84.22M
Total Current Liabilities+	75.01M	78.18M	83.26M	92.86M	101.81M	120.32M	225.63M	152.01M	105.27M	133.02M
Accounts Payable	8.67M	9.49M	9.2M	9.87M	9.4M	10.03M	15.49M	11.45M	8.13M	13.74M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	47.55M	48.3M	53.87M	57.39M	49.17M	52.56M	64.93M	73.08M	58.46M	40.26M
Total Equity+	188.99M	53.7M	29.23M	65.11M	494.91M	546.84M	696.3M	713.51M	645.27M	630.82M
Equity Growth %	0.62%	-0.72%	-0.46%	1.23%	6.6%	0.1%	0.27%	0.02%	-0.1%	-0.02%
Shareholders Equity	188.99M	258.85M	314.89M	409.57M	494.91M	546.84M	696.3M	713.51M	645.27M	630.82M
Minority Interest	0	-205.15M	-285.66M	-344.47M	0	0	0	0	0	0
Common Stock	4K	4K	4K	4K	4K	4K	4K	4K	4K	4K
Additional Paid-in Capital	80.59M	85.44M	89.88M	97.46M	104.66M	113.18M	121.84M	131.54M	153.74M	173.34M
Retained Earnings	107.94M	172.6M	224.07M	311.34M	388.27M	431.08M	573.55M	585.58M	492.3M	458.91M
Preferred Stock	0	190K	60K	225K	0	0	0	0	0	0
Return on Assets (ROA)	0.24%	0.18%	0.12%	0.17%	0.12%	0.06%	0.16%	0.1%	-0.04%	-0.01%
Return on Equity (ROE)	0.43%	0.53%	1.24%	1.85%	0.27%	0.08%	0.23%	0.15%	-0.05%	-0.02%
Debt / Assets	0.03%	0.02%	0.02%	0.01%	0.12%	0.1%	0.07%	0.08%	0.1%	0.1%
Debt / Equity	0.06x	0.18x	0.30x	0.12x	0.18x	0.14x	0.11x	0.12x	0.14x	0.13x
Net Debt / EBITDA	-0.73x	-1.60x	-2.09x	-1.75x	-1.39x	-2.55x	-1.52x	-1.02x	-	-
Book Value per Share	4.83	1.38	0.75	1.65	12.51	13.76	17.33	17.76	16.69	16.31

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	72.12M	74.49M	66.54M	117.31M	25.29M	38.09M	255.9M	13.63M	-72.43M	21.71M
Operating CF Growth %	0.01%	0.03%	-0.11%	0.76%	-0.78%	0.51%	5.72%	-0.95%	-6.31%	1.3%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	66.35M	64.66M	51.52M	87.26M	76.93M	42.84M	142.47M	104.22M	-34.03M	-12.36M
Depreciation & Amortization	3.31M	4.39M	5.36M	6.3M	8.02M	10.9M	11.72M	13.41M	13.63M	16.59M
Stock-Based Compensation	7.11M	7.04M	9.14M	11.98M	9.28M	9.9M	10.36M	17.31M	24.15M	23.79M
Other Non-Cash Items	-9.82M	-2.1M	325K	87K	21.06M	23.42M	28.14M	22.54M	26.03M	24.09M
Working Capital Changes	-5.37M	-1.72M	-12.64M	11.83M	-90.22M	-49.44M	75.06M	-137.78M	-95.77M	-28.98M
Cash from Investing+	-126.93M	19.82M	-27.34M	-117.98M	-3.42M	-17.23M	-108.36M	-53.98M	74.87M	-9.9M
Acquisitions (Net)	0	40K	10K	-14.93M	-6.08M	-16.3M	229K	-12.5M	0	0
Purchase of Investments	-146.05M	-107.9M	-65.09M	-208.46M	-168.08M	-215.61M	-387.61M	-380.8M	-302.28M	-190.7M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-225K	-443K	-454K	-433K	-137K	-56K	250K	-3K	-5.09M	-76K
Cash from Financing+	1.83M	-3.12M	-5.78M	-5.44M	-3.88M	-10.33M	-5.92M	-105.56M	-67.68M	-28.75M
Dividends Paid	0	0	0	0	0	0	0	-60.36M	-20.1M	-20.23M
Common Dividends	0	0	0	0	0	0	0	-60.36M	-20.1M	-20.23M
Debt Issuance (Net)	-894K	-938K	-986K	-1000K	-1000K	-1000K	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-29.05M	-39.44M	-785K
Other Financing	1.75M	-2.85M	-5.45M	-5.02M	-2.79M	-3.77M	-5.92M	-16.14M	-8.13M	-7.74M
Net Change in Cash+	-52.97M	91.19M	33.41M	-6.1M	17.99M	10.48M	138.99M	-146.27M	-65.12M	-17.31M
Exchange Rate Effect	0	0	0	0	0	-48K	-1000K	-366K	122K	-365K
Cash at Beginning	149.16M	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.14M	235.87M	170.75M
Cash at End	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.14M	235.87M	170.75M	153.44M
Free Cash Flow+	65.32M	65.01M	59.98M	109.24M	16.48M	31.14M	249.05M	1.96M	-81.8M	13.84M
FCF Growth %	-0.05%	-0%	-0.08%	0.82%	-0.85%	0.89%	7%	-0.99%	-42.67%	1.17%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.78	1.77	1.45	2.38	2.15	1.35	3.84	2.93	-0.53	0.11
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%	51.31%	-98.51%	478.5%
NOI Margin	38.56%	38.01%	37.95%	38.28%	38.14%	37.53%	35.19%	34.63%	37.04%	38.01%
Net Debt / EBITDA	-0.73x	-1.60x	-2.09x	-1.75x	-1.39x	-2.55x	-1.52x	-1.02x	-	-
Debt / Assets	3.3%	2.45%	1.89%	1.35%	12.34%	10.09%	7.4%	8.18%	9.99%	9.68%
Interest Coverage	66.43x	69.47x	64.26x	80.21x	69.47x	59.57x	326.48x	194.07x	-66.86x	-40.53x
Book Value / Share	4.83	1.38	0.75	1.65	12.51	13.76	17.33	17.76	16.69	16.31
Revenue Growth	20.42%	4.12%	0.31%	13.22%	-1.03%	-11.1%	80.84%	0.41%	-50.38%	7.76%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Real Estate Brokerage Commissions	747.36M	729.36M	633.16M	1.17B	1.17B	559.75M	589.7M
Real Estate Brokerage Commissions Growth	-	-2.41%	-13.19%	84.94%	-0.06%	-52.17%	5.35%
Financing Fees	57.82M	66.29M	70.54M	109.69M	112.98M	66.9M	84.51M
Financing Fees Growth	-	14.66%	6.40%	55.50%	3.00%	-40.79%	26.33%
Other Revenues	9.64M	10.78M	13.2M	15.78M	18.42M	19.28M	21.85M
Other Revenues Growth	-	11.77%	22.50%	19.52%	16.74%	4.64%	13.36%

Frequently Asked Questions

Growth & Financials

Marcus & Millichap, Inc. (MMI) reported $751.3M in revenue for fiscal year 2024. This represents a 173% increase from $274.7M in 2011.

Marcus & Millichap, Inc. (MMI) grew revenue by 7.8% over the past year. This is steady growth.

Marcus & Millichap, Inc. (MMI) reported a net loss of $6.7M for fiscal year 2024.

Dividend & Returns

Yes, Marcus & Millichap, Inc. (MMI) pays a dividend with a yield of 1.92%. This makes it attractive for income-focused investors.

Marcus & Millichap, Inc. (MMI) has a return on equity (ROE) of -1.9%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Marcus & Millichap, Inc. (MMI) generated Funds From Operations (FFO) of $7.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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Marcus & Millichap, Inc. (MMI) 10-Year Financial Performance & Capital Metrics

MMI • • REIT / Real Estate

Real EstateReal Estate ServicesReal Estate Brokerage & Agency ServicesCommercial Brokerage Specialists

Revenue $696M +7.8%
FFO $4M +120.7%
FFO/Share 0.11 +120.7%
FFO Payout 478.5% +585.8%
FFO per Share 0.11 +120.7%
NOI Margin 38.01% +2.6%
FFO Margin 0.61% +119.2%
ROE -1.94% +61.3%
ROA -1.41% +60.9%
Debt/Assets 9.68% -3.1%
Net Debt/EBITDA -
Book Value/Share 16.31 -2.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 144.6% TTM

✗Weaknesses

✗Weak 3Y average ROE of 2.6%
✗Dividend exceeds FFO - may not be sustainable
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Low NOI margin of 38.0%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.98%

5Y-2.9%

3Y-18.72%

TTM20.74%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM78.59%

EPS CAGR

10Y-

5Y-

3Y-

TTM79.77%

ROCE

10Y Avg20.44%

5Y Avg7.77%

3Y Avg1.59%

Latest-4.36%

Peer Comparison

Commercial Brokerage Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MMIMarcus & Millichap, Inc.	1.06B	27.20	-85	7.76%	-0.89%	-1.11%	1.31%	0.13

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	689.05M	717.45M	719.7M	814.82M	806.43M	716.91M	1.3B	1.3B	645.93M	696.06M
Revenue Growth %	0.2%	0.04%	0%	0.13%	-0.01%	-0.11%	0.81%	0%	-0.5%	0.08%
Property Operating Expenses	423.39M	444.77M	446.56M	502.88M	498.88M	447.88M	840.21M	850.89M	406.64M	431.47M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	151.01M	166.18M	177.01M	199.65M	211.13M	215.41M	266.88M	313.42M	298.65M	297.5M
G&A Expenses	147.71M	161.79M	171.65M	193.35M	203.11M	204.51M	255.15M	300.01M	285.02M	280.91M
EBITDA+	117.96M	110.89M	101.5M	118.58M	104.44M	64.51M	201.08M	150.81M	-45.74M	-16.32M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	3.31M	4.39M	5.36M	6.3M	8.02M	10.9M	11.72M	13.41M	13.63M	16.59M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	114.65M	106.5M	96.13M	112.29M	96.42M	53.61M	189.36M	137.4M	-59.37M	-32.91M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	1.73M	1.53M	1.5M	1.4M	1.39M	900K	580K	708K	888K	812K
Interest Coverage	66.43x	69.47x	64.26x	80.21x	69.47x	59.57x	326.48x	194.07x	-66.86x	-40.53x
Non-Operating Income	-443K	-2.13M	-4.59M	-6.33M	-12.48M	-6.65M	-4.53M	-5.34M	-19.86M	-20.69M
Pretax Income+	113.37M	107.1M	99.23M	117.22M	107.51M	59.36M	193.3M	142.03M	-40.4M	-13.03M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	47.02M	42.45M	47.7M	29.96M	30.58M	16.53M	50.83M	37.8M	-6.37M	-666K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	66.35M	64.66M	51.52M	87.26M	76.93M	42.84M	142.47M	104.22M	-34.03M	-12.36M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.34%	-0.03%	-0.2%	0.69%	-0.12%	-0.44%	2.33%	-0.27%	-1.33%	0.64%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.32%	-0.01%	-0.18%	0.64%	-0.09%	-0.37%	1.87%	-0.24%	-1.17%	1.21%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.69	1.66	1.32	2.22	1.95	1.08	3.55	2.59	-0.88	-0.32
EPS Growth %	0.33%	-0.02%	-0.2%	0.68%	-0.12%	-0.45%	2.29%	-0.27%	-1.34%	0.64%
EPS (Basic)	1.71	1.66	1.32	2.23	1.95	1.08	3.57	2.61	-0.88	-0.32
Diluted Shares Outstanding	39.16M	39.03M	39.1M	39.38M	39.55M	39.73M	40.19M	40.19M	38.66M	38.68M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	321.23M	394.02M	459.66M	566.38M	709.03M	779.12M	1.05B	1B	878.41M	869.8M
Asset Growth %	0.38%	0.23%	0.17%	0.23%	0.25%	0.1%	0.34%	-0.04%	-0.12%	-0.01%
Real Estate & Other Assets+	9.12M	9.98M	23.16M	53.94M	100.57M	140.86M	126.54M	185.87M	201.64M	199.97M
PP&E (Net)	11.58M	16.36M	17.15M	19.55M	113.18M	107.46M	104.72M	115.59M	117.51M	107.26M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	196.11M	234.01M	320.43M	371.34M	410.17M	429.08M	608.13M	527.14M	393.69M	410.32M
Cash & Equivalents	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.12M	235.87M	170.75M	153.44M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	6.64M	4.05M	3.17M	2.54M	11.07M	7.12M	16K	0	19.58M	0
Intangible Assets	5.89M	7.04M	13.26M	6.13M	9.24M	20.57M	15.89M	17.78M	13.14M	5.92M
Total Liabilities	132.24M	135.16M	144.78M	156.81M	214.13M	232.29M	348.89M	290.2M	233.14M	238.98M
Total Debt+	10.61M	9.67M	8.69M	7.65M	87.48M	78.6M	77.31M	82.09M	87.74M	84.22M
Net Debt	-85.58M	-177.7M	-212.1M	-207.03M	-145.19M	-164.55M	-304.82M	-153.78M	-83.01M	-69.22M
Long-Term Debt	9.67M	8.69M	7.65M	6.56M	0	0	0	0	0	0
Short-Term Borrowings	939K	986K	1000K	1000K	1000K	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	80.92M	78.6M	77.31M	82.09M	87.74M	84.22M
Total Current Liabilities+	75.01M	78.18M	83.26M	92.86M	101.81M	120.32M	225.63M	152.01M	105.27M	133.02M
Accounts Payable	8.67M	9.49M	9.2M	9.87M	9.4M	10.03M	15.49M	11.45M	8.13M	13.74M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	47.55M	48.3M	53.87M	57.39M	49.17M	52.56M	64.93M	73.08M	58.46M	40.26M
Total Equity+	188.99M	53.7M	29.23M	65.11M	494.91M	546.84M	696.3M	713.51M	645.27M	630.82M
Equity Growth %	0.62%	-0.72%	-0.46%	1.23%	6.6%	0.1%	0.27%	0.02%	-0.1%	-0.02%
Shareholders Equity	188.99M	258.85M	314.89M	409.57M	494.91M	546.84M	696.3M	713.51M	645.27M	630.82M
Minority Interest	0	-205.15M	-285.66M	-344.47M	0	0	0	0	0	0
Common Stock	4K	4K	4K	4K	4K	4K	4K	4K	4K	4K
Additional Paid-in Capital	80.59M	85.44M	89.88M	97.46M	104.66M	113.18M	121.84M	131.54M	153.74M	173.34M
Retained Earnings	107.94M	172.6M	224.07M	311.34M	388.27M	431.08M	573.55M	585.58M	492.3M	458.91M
Preferred Stock	0	190K	60K	225K	0	0	0	0	0	0
Return on Assets (ROA)	0.24%	0.18%	0.12%	0.17%	0.12%	0.06%	0.16%	0.1%	-0.04%	-0.01%
Return on Equity (ROE)	0.43%	0.53%	1.24%	1.85%	0.27%	0.08%	0.23%	0.15%	-0.05%	-0.02%
Debt / Assets	0.03%	0.02%	0.02%	0.01%	0.12%	0.1%	0.07%	0.08%	0.1%	0.1%
Debt / Equity	0.06x	0.18x	0.30x	0.12x	0.18x	0.14x	0.11x	0.12x	0.14x	0.13x
Net Debt / EBITDA	-0.73x	-1.60x	-2.09x	-1.75x	-1.39x	-2.55x	-1.52x	-1.02x	-	-
Book Value per Share	4.83	1.38	0.75	1.65	12.51	13.76	17.33	17.76	16.69	16.31

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	72.12M	74.49M	66.54M	117.31M	25.29M	38.09M	255.9M	13.63M	-72.43M	21.71M
Operating CF Growth %	0.01%	0.03%	-0.11%	0.76%	-0.78%	0.51%	5.72%	-0.95%	-6.31%	1.3%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	66.35M	64.66M	51.52M	87.26M	76.93M	42.84M	142.47M	104.22M	-34.03M	-12.36M
Depreciation & Amortization	3.31M	4.39M	5.36M	6.3M	8.02M	10.9M	11.72M	13.41M	13.63M	16.59M
Stock-Based Compensation	7.11M	7.04M	9.14M	11.98M	9.28M	9.9M	10.36M	17.31M	24.15M	23.79M
Other Non-Cash Items	-9.82M	-2.1M	325K	87K	21.06M	23.42M	28.14M	22.54M	26.03M	24.09M
Working Capital Changes	-5.37M	-1.72M	-12.64M	11.83M	-90.22M	-49.44M	75.06M	-137.78M	-95.77M	-28.98M
Cash from Investing+	-126.93M	19.82M	-27.34M	-117.98M	-3.42M	-17.23M	-108.36M	-53.98M	74.87M	-9.9M
Acquisitions (Net)	0	40K	10K	-14.93M	-6.08M	-16.3M	229K	-12.5M	0	0
Purchase of Investments	-146.05M	-107.9M	-65.09M	-208.46M	-168.08M	-215.61M	-387.61M	-380.8M	-302.28M	-190.7M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-225K	-443K	-454K	-433K	-137K	-56K	250K	-3K	-5.09M	-76K
Cash from Financing+	1.83M	-3.12M	-5.78M	-5.44M	-3.88M	-10.33M	-5.92M	-105.56M	-67.68M	-28.75M
Dividends Paid	0	0	0	0	0	0	0	-60.36M	-20.1M	-20.23M
Common Dividends	0	0	0	0	0	0	0	-60.36M	-20.1M	-20.23M
Debt Issuance (Net)	-894K	-938K	-986K	-1000K	-1000K	-1000K	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-29.05M	-39.44M	-785K
Other Financing	1.75M	-2.85M	-5.45M	-5.02M	-2.79M	-3.77M	-5.92M	-16.14M	-8.13M	-7.74M
Net Change in Cash+	-52.97M	91.19M	33.41M	-6.1M	17.99M	10.48M	138.99M	-146.27M	-65.12M	-17.31M
Exchange Rate Effect	0	0	0	0	0	-48K	-1000K	-366K	122K	-365K
Cash at Beginning	149.16M	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.14M	235.87M	170.75M
Cash at End	96.19M	187.37M	220.79M	214.68M	232.67M	243.15M	382.14M	235.87M	170.75M	153.44M
Free Cash Flow+	65.32M	65.01M	59.98M	109.24M	16.48M	31.14M	249.05M	1.96M	-81.8M	13.84M
FCF Growth %	-0.05%	-0%	-0.08%	0.82%	-0.85%	0.89%	7%	-0.99%	-42.67%	1.17%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.78	1.77	1.45	2.38	2.15	1.35	3.84	2.93	-0.53	0.11
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%	51.31%	-98.51%	478.5%
NOI Margin	38.56%	38.01%	37.95%	38.28%	38.14%	37.53%	35.19%	34.63%	37.04%	38.01%
Net Debt / EBITDA	-0.73x	-1.60x	-2.09x	-1.75x	-1.39x	-2.55x	-1.52x	-1.02x	-	-
Debt / Assets	3.3%	2.45%	1.89%	1.35%	12.34%	10.09%	7.4%	8.18%	9.99%	9.68%
Interest Coverage	66.43x	69.47x	64.26x	80.21x	69.47x	59.57x	326.48x	194.07x	-66.86x	-40.53x
Book Value / Share	4.83	1.38	0.75	1.65	12.51	13.76	17.33	17.76	16.69	16.31
Revenue Growth	20.42%	4.12%	0.31%	13.22%	-1.03%	-11.1%	80.84%	0.41%	-50.38%	7.76%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Real Estate Brokerage Commissions	747.36M	729.36M	633.16M	1.17B	1.17B	559.75M	589.7M
Real Estate Brokerage Commissions Growth	-	-2.41%	-13.19%	84.94%	-0.06%	-52.17%	5.35%
Financing Fees	57.82M	66.29M	70.54M	109.69M	112.98M	66.9M	84.51M
Financing Fees Growth	-	14.66%	6.40%	55.50%	3.00%	-40.79%	26.33%
Other Revenues	9.64M	10.78M	13.2M	15.78M	18.42M	19.28M	21.85M
Other Revenues Growth	-	11.77%	22.50%	19.52%	16.74%	4.64%	13.36%

Frequently Asked Questions

Growth & Financials

Marcus & Millichap, Inc. (MMI) reported $751.3M in revenue for fiscal year 2024. This represents a 173% increase from $274.7M in 2011.

Marcus & Millichap, Inc. (MMI) grew revenue by 7.8% over the past year. This is steady growth.

Marcus & Millichap, Inc. (MMI) reported a net loss of $6.7M for fiscal year 2024.

Dividend & Returns

Yes, Marcus & Millichap, Inc. (MMI) pays a dividend with a yield of 1.92%. This makes it attractive for income-focused investors.

Marcus & Millichap, Inc. (MMI) has a return on equity (ROE) of -1.9%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Marcus & Millichap, Inc. (MMI) generated Funds From Operations (FFO) of $7.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.