Latest Ratios: P/E Ratio 19.3x · EV/EBITDA 8.9x · ROE 7.7%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $4.4B | $2.3B | $1.9B | $2.0B | $3.7B | $1.3B | $2.5B | $1.3B | $2.2B | — |
| Enterprise Value | $3.7B | $6.0B | $4.1B | $3.5B | $3.1B | $5.9B | $3.1B | $3.4B | $2.7B | $3.6B | — |
| P/E Ratio → | 19.31 | 25.50 | 37.68 | 45.67 | 17.71 | 4.92 | 18.69 | 23.21 | 12.53 | 18.71 | — |
| P/S Ratio | 0.61 | 1.32 | 0.83 | 0.78 | 0.72 | 1.26 | 0.69 | 1.12 | 0.64 | 1.38 | — |
| P/B Ratio | 1.90 | 2.51 | 1.49 | 1.22 | 1.28 | 2.20 | 1.39 | 2.59 | 0.84 | 10.72 | — |
| P/FCF | 14.38 | 30.81 | — | — | 1.72 | — | — | 2.62 | — | 2.65 | — |
| P/OCF | 11.93 | 25.55 | — | — | 1.63 | — | — | 2.52 | — | 2.58 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.81 | 1.50 | 1.42 | 1.16 | 2.02 | 1.65 | 1.54 | 1.32 | 2.24 | — |
| EV / EBITDA | 8.92 | 14.56 | 12.16 | 12.08 | 8.91 | 4.27 | 9.88 | 9.06 | 6.28 | 12.11 | — |
| EV / EBIT | 15.83 | 25.84 | 25.16 | 28.11 | 16.87 | 4.68 | 18.49 | 13.88 | 8.12 | 28.45 | — |
| EV / FCF | — | 42.40 | — | — | 2.76 | — | — | 3.59 | — | 4.31 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.6% | 94.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 7.0% | 7.0% | 6.0% | 5.1% | 6.9% | 43.2% | 9.7% | 11.1% | 16.2% | 12.5% | 12.4% |
| Net Profit Margin | 3.8% | 3.8% | 2.2% | 1.7% | 3.1% | 25.8% | 4.2% | 5.3% | 5.2% | 9.1% | 12.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 3.9% | 2.7% | 5.2% | 57.6% | 8.4% | 9.3% | 12.0% | 24.3% | 18.8% |
| ROA | 2.6% | 2.6% | 1.3% | 1.0% | 1.8% | 16.3% | 2.2% | 3.5% | 3.7% | 6.0% | 8.0% |
| ROIC | 5.2% | 5.2% | 3.8% | 3.2% | 4.2% | 28.3% | 5.9% | 7.6% | 11.0% | 10.9% | 11.3% |
| ROCE | 6.6% | 6.6% | 5.5% | 4.7% | 6.9% | 47.3% | 8.3% | 12.5% | 20.3% | 15.3% | 16.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.14 | 1.14 | 1.33 | 1.11 | 0.92 | 1.44 | 2.15 | 1.13 | 0.96 | 7.31 | 0.26 |
| Debt / EBITDA | 4.82 | 4.82 | 6.00 | 6.01 | 4.01 | 1.75 | 6.36 | 2.89 | 3.51 | 5.08 | 1.08 |
| Net Debt / Equity | — | 0.94 | 1.20 | 1.00 | 0.77 | 1.33 | 1.95 | 0.96 | 0.88 | 6.72 | 0.19 |
| Net Debt / EBITDA | 3.98 | 3.98 | 5.41 | 5.44 | 3.35 | 1.61 | 5.76 | 2.46 | 3.23 | 4.67 | 0.80 |
| Debt / FCF | — | 11.58 | — | — | 1.04 | — | — | 0.98 | — | 1.66 | — |
| Interest Coverage | 7.20 | 7.20 | 5.13 | 5.76 | 5.99 | 37.48 | 4.50 | 7.67 | 6.62 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.25 | 2.25 | 1.00 | 1.01 | 0.68 | 1.15 | 1.07 | 1.03 | 1.06 | 1.05 | 1.05 |
| Quick Ratio | 2.25 | 2.25 | 1.00 | 1.01 | 0.67 | 1.15 | 1.07 | 1.03 | 0.42 | 0.52 | 0.23 |
| Cash Ratio | 0.39 | 0.39 | 0.11 | 0.11 | 0.15 | 0.33 | 0.13 | 0.19 | 0.10 | 0.23 | 0.05 |
| Asset Turnover | — | 0.66 | 0.58 | 0.55 | 0.69 | 0.56 | 0.48 | 0.69 | 0.59 | 0.70 | 0.53 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.5% | 0.9% | 1.1% | 0.9% | 0.2% | 1.8% | 2.8% | 3.2% | 4.6% | — |
| Payout Ratio | 17.2% | 17.2% | 33.7% | 49.1% | 21.5% | 1.0% | 28.9% | 59.0% | 39.2% | 70.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 3.9% | 2.7% | 2.2% | 5.6% | 20.3% | 5.3% | 4.3% | 8.0% | 5.3% | — |
| FCF Yield | 7.0% | 3.2% | — | — | 58.0% | — | — | 38.2% | — | 37.8% | — |
| Buyback Yield | 6.2% | 2.9% | 9.3% | 1.9% | 15.1% | 7.9% | 0.5% | 1.5% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 6.8% | 3.4% | 10.2% | 3.0% | 16.0% | 8.1% | 2.3% | 4.3% | 3.2% | 4.6% | — |
| Shares Outstanding | — | $253M | $178M | $176M | $245M | $196M | $180M | $185M | $164M | $138M | $225M |
Includes 30+ ratios · 11 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NMRK stock.
Newmark Group, Inc.'s current P/E ratio is 19.3x. The historical average is 22.7x. This places it at the 56th percentile of its historical range.
Newmark Group, Inc.'s current EV/EBITDA is 8.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
Newmark Group, Inc.'s return on equity (ROE) is 7.7%. The historical average is 13.6%.
Based on historical data, Newmark Group, Inc. is trading at a P/E of 19.3x. This is at the 56th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Newmark Group, Inc.'s current dividend yield is 0.65% with a payout ratio of 17.2%.
Newmark Group, Inc. has 94.6% gross margin and 7.0% operating margin.
Newmark Group, Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
EPS miss despite record revenue
Metrics are mathematically derived from official filings.
Discount Reflecting Cyclical Sensitivity
According to recent SEC filings, NMRK trades at 6.89x forward P/FFO, a substantial discount to CBRE's 25.5x and JLL's 14.4x EV/EBITDA, reflecting its higher beta to capital markets volatility.
The P/FFO multiple of 6.89x is at the low end of its historical range, suggesting the market is pricing in continued earnings pressure from the office sector and rate environment. Compared to peers, NMRK's EV/EBITDA of 10.08x is below JLL's 14.44x and CBRE's 25.53x, but above CWK's 10.49x, indicating a middle-ground valuation that may not fully compensate for its higher cyclicality. The implied cap rate, derived from NOI and enterprise value, appears in line with private market transactions, but the discount to diversified peers suggests investors are wary of its concentrated U.S. gateway market exposure.
Margin Stability Masks Cost Pressures
As reported in financial statements, NMRK's NOI margin remained high at 94.8% in Q2 2026, but FFO growth of only 7.1% versus 17% revenue growth indicates that commission expenses are absorbing incremental gains.
The stability in NOI margin, which has hovered near 95-100% over the past ten quarters, reflects the pass-through nature of certain costs, but the divergence between revenue and FFO growth suggests that the aggressive hiring of high-producing teams is not yet yielding operating leverage. The Q2 2026 EPS miss of $0.09 against consensus, despite record revenues, underscores that margin expansion is being offset by elevated compensation and recruitment costs. Investors should monitor whether the firm can convert its top-line momentum into bottom-line accretion as it integrates newly hired teams and scales its recurring management and servicing businesses.
Payout Ratio Signals Ample Coverage
Based on EDBL's reported figures, NMRK's FFO payout ratio was 16.3% in Q2 2026, with AFFO covering dividends by 4.2x, indicating a substantial buffer for distribution sustainability.
The low payout ratio, which has ranged from 4.6% to 18.9% over the past ten quarters, suggests that the dividend is well-covered by both FFO and AFFO, leaving significant retained cash flow for reinvestment or debt reduction. However, the true cost of talent retention, including stock-based compensation and forgivable loans, may not be fully reflected in AFFO, potentially overstating distributable cash. Despite this, the current dividend yield of 0.5% is minimal, and the company appears to prioritize growth over shareholder distributions, which is consistent with its reinvestment strategy.
Leverage Eases but Coverage Fluctuates
According to recent SEC filings, NMRK's debt-to-equity improved to 1.24 in Q2 2026 from 1.82 a year earlier, while interest coverage rose to 5.45x from 4.75x, reflecting reduced debt and higher cash.
The reduction in total debt to $2.2B from $2.8B, coupled with a rise in cash to $259.7M, has strengthened the balance sheet, but interest coverage remains volatile, swinging from 17.65x in Q4 2025 to 2.80x in Q3 2025, indicating sensitivity to quarterly earnings swings. The fixed-rate exposure and maturity profile are not disclosed in the provided data, but the improvement in leverage metrics suggests adequate financial flexibility. However, the reliance on variable compensation and the cyclicality of transaction volumes could pressure coverage in a downturn, warranting monitoring of refinancing needs.
Talent Concentration Drives Performance
As reported in financial statements, NMRK's occupancy rate is not applicable, but its asset-light model with PP&E of $570M underscores a reliance on human capital, with G&A efficiency reflected in a 94.8% NOI margin.
The company's portfolio quality is defined by its producer headcount and retention, as the loss of a single high-performing team can materially impact regional revenue. The recent high-profile hires have contributed to record revenues, but the concentration in U.S. gateway markets like New York and San Francisco exposes it to regional downturns. The management and servicing segment, targeted to exceed $2B in revenues by 2029, provides a more stable foundation, but the overall earnings quality remains tied to the volatile capital markets and leasing businesses.
P/E Distorts True Earnings Power
The most commonly misapplied ratio for NMRK is the standard P/E, which is distorted by significant depreciation and amortization charges, as FFO exceeded net income by $46.0M in Q2 2026.
Using P/E of 23.84x for a REIT-like entity obscures the underlying cash-generating ability, as non-cash charges depress GAAP earnings. Instead, investors should use P/FFO or P/AFFO, which adjust for depreciation and other non-cash items, providing a clearer picture of valuation. Additionally, the heavy use of stock-based compensation and forgivable loans for broker recruitment may not be fully captured in FFO, so analysts should also consider adjusted metrics that expense these costs to assess sustainable cash flow.