gross profit bridgeinconsistent2018-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$755.16M
Fiscal year ended 2025-12-31Operating income
-$13.71M
Fiscal year ended 2025-12-31Free cash flow
$58.78M
Fiscal year ended 2025-12-31Marcus & Millichap, Inc. (MMI) reported revenue of $755.16M and net income of -$1.91M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Marcus & Millichap, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Agents & Managers (For Others).
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $755.16M | $696.06M | $645.93M | $1.30B | $1.30B | $716.91M | $806.43M | $814.82M | $719.70M | $717.45M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $502.88M | $446.56M | $444.77M |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $272.68M |
| Operating income | -$13.71M | -$32.91M | -$59.37M | $137.40M | $189.36M | $53.61M | $96.42M | $112.29M | $96.13M | $106.50M |
| Net income | -$1.91M | -$12.36M | -$34.04M | $104.22M | $142.47M | $42.84M | $76.93M | $87.26M | $51.52M | $64.66M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 38.94M | shares 38.68M | shares 38.66M | shares 40.19M | shares 40.19M | shares 39.74M | shares 39.55M | shares 39.38M | shares 39.10M | shares 39.04M |
| Pretax income | $3.02M | -$13.03M | -$40.40M | $142.03M | $193.30M | $59.36M | $107.51M | $117.22M | $99.23M | $107.10M |
| Income tax expense | $4.93M | -$666.00K | -$6.37M | $37.80M | $50.83M | $16.53M | $30.58M | $29.96M | $47.70M | $42.44M |
| Diluted EPS | $-0.05 | $-0.32 | $-0.88 | $2.59 | $3.55 | $1.08 | $1.95 | $2.22 | $1.32 | $1.66 |
| Selling, general & administrative | $286.28M | $280.91M | $285.02M | $300.01M | $255.15M | $204.51M | $203.11M | $193.35M | $171.65M | $161.79M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | $235.87M | $382.14M | $243.15M | $232.67M | $214.68M | $220.79M | $187.37M |
| Total assets | $827.18M | $869.80M | $878.41M | $1.00B | $1.05B | $779.12M | $709.03M | $566.38M | $459.66M | $394.02M |
| Current assets | $309.21M | $410.32M | $393.69M | $527.14M | $608.13M | $429.08M | $410.17M | $371.34M | $320.43M | $234.01M |
| Total liabilities | $224.08M | $238.98M | $233.14M | $290.20M | $348.89M | $232.29M | $214.13M | $156.81M | $144.78M | $135.16M |
| Current liabilities | $121.45M | $133.02M | $105.27M | $152.02M | $225.63M | $120.32M | $101.80M | $92.86M | $83.26M | $78.18M |
| Total equity incl. NCI | $603.10M | $630.82M | $645.27M | $713.51M | $696.30M | $546.84M | $494.87M | $409.57M | $314.89M | $258.85M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $37.85M | $37.60M | $38.05M | $37.91M | $34.07M | $33.38M | $15.07M | $11.46M | $0 | Unavailable |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $66.66M | $21.71M | -$72.43M | $13.63M | $255.90M | $38.09M | $25.29M | $117.31M | $66.54M | $74.49M |
| Capital expenditures | $7.87M | $7.87M | $9.37M | $11.67M | $6.86M | $6.94M | $8.81M | $8.07M | $6.55M | $9.47M |
| Investing cash flow | -$3.82M | -$9.90M | $74.87M | -$53.98M | -$108.36M | -$17.23M | -$3.42M | -$117.98M | -$27.34M | $19.82M |
| Financing cash flow | -$54.58M | -$28.76M | -$67.68M | -$105.56M | -$5.92M | -$10.33M | -$3.88M | -$5.44M | -$5.78M | -$3.12M |
| Net change in cash | $8.48M | -$17.31M | -$65.12M | -$146.27M | $138.99M | $10.48M | $17.99M | -$6.10M | $33.42M | $91.19M |
| Stock-based compensation | $24.23M | $23.79M | $24.15M | $17.31M | $10.36M | $9.90M | $9.28M | $11.98M | $9.14M | $7.04M |
| Common dividends paid | $20.55M | $20.23M | $20.10M | $60.36M | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $25.37M | $785.00K | $39.44M | $29.05M | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $12.10M | $16.59M | $13.63M | $13.41M | $11.72M | $10.90M | $8.02M | $6.30M | $5.36M | $4.39M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $58.78M | $13.84M | -$81.80M | $1.96M | $249.05M | $31.14M | $16.48M | $109.24M | $59.98M | $65.01M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 38.0% |
| Operating margin | -1.8% | -4.7% | -9.2% | 10.6% | 14.6% | 7.5% | 12.0% | 13.8% | 13.4% | 14.8% |
| FCF margin | 7.8% | 2.0% | -12.7% | 0.2% | 19.2% | 4.3% | 2.0% | 13.4% | 8.3% | 9.1% |
| SBC / revenue | 3.2% | 3.4% | 3.7% | 1.3% | 0.8% | 1.4% | 1.2% | 1.5% | 1.3% | 1.0% |
| Current ratio | 2.55x | 3.08x | 3.74x | 3.47x | 2.70x | 3.57x | 4.03x | 4.00x | 3.85x | 2.99x |
| Revenue YoY growth | 8.5% | 7.8% | -50.4% | 0.4% | 80.8% | -11.1% | -1.0% | 13.2% | 0.3% | Unavailable |
| Net margin | -0.3% | -1.8% | -5.3% | 8.0% | 11.0% | 6.0% | 9.5% | 10.7% | 7.2% | 9.0% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 1.0% | 1.1% | 1.5% | 0.9% | 0.5% | 1.0% | 1.1% | 1.0% | 0.9% | 1.3% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 163.2% | Unavailable | Unavailable | 26.6% | 26.3% | 27.8% | 28.4% | 25.6% | 48.1% | 39.6% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MMI in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-11-07View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-07View SEC filing
Reconciliation checks needing review
2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
gross profit bridgeinconsistent2017-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.