Valuation, from the filing
| Public float | $722.00M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $18.88 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 1.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
8.7× earnings today, against a median of 8.9× across 7 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2022-06-30 | $906.90M | 8.7× | |
| 2021-06-30 | $937.20M | 6.6× | |
| 2020-06-30 | $670.50M | 15.7× | |
| 2019-06-30 | $704.00M | 9.2× | |
| 2018-06-30 | $814.90M | 9.3× | |
| 2017-06-30 | $458.80M | 8.9× | |
| 2016-06-30 | $402.60M | 6.2× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Real Estate Agents & Managers (For Others) filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 163.2% | 100th | |
| CapEx / revenue | 1.0% | 88th | |
| Current ratio | 2.55x | 82th | |
| FCF margin | 7.8% | 75th | |
| SBC / revenue | 3.2% | 75th | |
| Net margin | -0.3% | 64th | |
| Operating margin | -1.8% | 40th | |
| Revenue YoY growth | 8.5% | 45th |
Marcus & Millichap, Inc. (MMI) reported revenue of $812.22M and net income of $14.36M for the fiscal year ended 2026-06-30. This page shows 1 annual period 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 | 2026-06-30 |
|---|---|
| Revenue | $812.22M |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | $9.48M |
| Net income | $14.36M |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $24.78M |
| Income tax expense | $10.43M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $286.08M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | Unavailable |
| Total assets | $765.80M |
| Current assets | $270.64M |
| Total liabilities | $186.88M |
| Current liabilities | $92.83M |
| Total equity incl. NCI | $578.91M |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | Unavailable |
| Accounts receivable | Unavailable |
| Goodwill | $37.67M |
| Long-term debt | Unavailable |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $93.08M |
| Capital expenditures | $8.57M |
| Investing cash flow | $44.76M |
| Financing cash flow | -$70.00M |
| Net change in cash | $67.56M |
| Stock-based compensation | $25.22M |
| Common dividends paid | $20.33M |
| Common share repurchases | $43.46M |
| Depreciation & amortization | $10.84M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | $84.52M |
| Gross margin | Unavailable |
| Operating margin | 1.2% |
| FCF margin | 10.4% |
| SBC / revenue | 3.1% |
| Current ratio | 2.92x |
| Revenue YoY growth | 11.9% |
| Net margin | 1.8% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 1.1% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | 42.1% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.