Latest Ratios: P/E Ratio 19.9x · EV/EBITDA 7.6x · 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 | $1.9B | $4.4B | $2.3B | $1.9B | $2.0B | $3.7B | $1.3B | $2.5B | $1.3B | $2.2B | — |
| Enterprise Value | $3.5B | $6.0B | $4.1B | $3.5B | $3.1B | $5.9B | $3.1B | $3.4B | $2.7B | $3.6B | — |
| P/E Ratio → | 19.93 | 25.50 | 37.68 | 45.67 | 17.71 | 4.92 | 18.69 | 23.21 | 12.53 | 18.71 | — |
| P/S Ratio | 0.50 | 1.32 | 0.83 | 0.78 | 0.72 | 1.26 | 0.69 | 1.12 | 0.64 | 1.38 | — |
| P/B Ratio | 1.72 | 2.51 | 1.49 | 1.22 | 1.28 | 2.20 | 1.39 | 2.59 | 0.84 | 10.72 | — |
| P/FCF | 4.58 | 30.81 | — | — | 1.72 | — | — | 2.62 | — | 2.65 | — |
| P/OCF | 10.82 | 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 | 7.63 | 14.56 | 12.16 | 12.08 | 8.91 | 4.27 | 9.66 | 9.06 | 6.28 | 12.11 | — |
| EV / EBIT | 15.01 | 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 | 6.22 | 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 | 5.63 | 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 | 5.0% | 3.9% | 2.7% | 2.2% | 5.6% | 20.3% | 5.3% | 4.3% | 8.0% | 5.3% | — |
| FCF Yield | 21.8% | 3.2% | — | — | 58.0% | — | — | 38.2% | — | 37.8% | — |
| Buyback Yield | 6.8% | 2.9% | 9.3% | 1.9% | 15.1% | 7.9% | 0.5% | 1.5% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 7.5% | 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
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Quick answers to the most common questions about buying NMRK stock.
Newmark Group, Inc.'s current P/E ratio is 19.9x. 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 7.6x. 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 19.9x. 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 0.72% 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
Leverage rising with thin margins
Metrics are mathematically derived from official filings.
Valuation Reflects Capital Markets Cyclicality
Based on reported figures, NMRK trades at 17.5x trailing earnings and 8.5x EV/EBITDA, a discount to CBRE and JLL that suggests investors price the company as a higher-beta play on transaction volumes rather than a recurring-revenue franchise. P/FFO is unavailable in the supplied data, so standard REIT valuation cannot be fully assessed.
Because NMRK is a services firm rather than a property owner, P/FFO and implied cap rate analysis are not directly applicable, and the reported P/FFO field is unavailable. The 1.72x price-to-book and 0.56x price-to-sales multiples indicate the market is assigning limited premium to the asset-light revenue base. Investors should monitor whether the discount narrows as recurring management and servicing revenues grow toward the stated 2029 target.
Operating Margins Diverge From Revenue Growth
As reported in the quarterly ratio data, NMRK's FFO per share rose from $0.21 in 2025Q1 to $0.37 in 2026Q3, yet ROE remained between roughly -0.6% and 4.0%, suggesting top-line momentum is not translating into durable shareholder returns.
The NOI margin figures near 95% reflect the services accounting treatment of pass-through and broker-split items rather than property-level profitability, so they should not be compared with owner-operator REIT margins. The gap between FFO growth and modest ROE indicates that per-share gains are partly absorbed by share count expansion and recruitment-related costs. Investors should monitor whether FFO growth proves organic or reflects accretive mix shifts toward recurring fees.
Debt Expansion Outpaces Equity Base
Based on EDBL-style reporting conventions applied here, NMRK's debt-to-equity ratio climbed from 1.14 in 2025Q4 to 1.47 in 2026Q3, and interest coverage swung between negative and above 17x, indicating leverage is rising unevenly against volatile earnings.
The reported debt-to-equity ratio is a book-value measure and does not translate directly to debt-to-gross-assets used for property REITs, so the figure should be read as an indicator of direction rather than a precise capital structure metric. Interest coverage's erratic path, including a negative reading in 2025Q1, suggests earnings are not yet a reliable buffer against debt service. This warrants further investigation into maturity profile and the share of borrowings tied to warehouse and forgivable-loan structures.
Minimal Yield Limits Payout Relevance
According to recent SEC filings, NMRK's dividend yield of 0.7% and FFO payout ratio that has ranged from roughly 4.6% to 16.3% indicate that distributions consume a small fraction of cash earnings, leaving substantial retained capital.
A low payout ratio suggests the dividend is currently well covered by FFO and AFFO, though the free cash flow series is negative in several recent quarters, so coverage on a cash basis is less certain. The ratio's sharp variation across quarters means a single period is not a reliable guide to sustainability. Investors should monitor whether retained cash is directed toward producer recruitment, which may be required to sustain the revenue base.
Misapplied Metric: FFO Payout Ratio
The FFO payout ratio is frequently applied to NMRK as if it were a property REIT, yet the metric obscures recruitment-linked cash costs, including forgivable loans and stock-based compensation, that may overstate sustainable distributable cash.
Applying a property REIT framework treats FFO as a clean proxy for distributable cash, but for a services firm, producer replacement spending and equity-linked compensation can recur and erode that cash base. A more appropriate adjustment would be to deduct recruitment-related cash outlays and net share-based compensation from FFO before computing payout coverage. This suggests the reported payout ratio may understate the true cash demands on the business.