Annual Income Statements for Marcus & Millichap
This table shows Marcus & Millichap's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Marcus & Millichap
This table shows Marcus & Millichap's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
21 |
7.91 |
-5.83 |
-8.73 |
-9.24 |
-10 |
-9.99 |
-5.54 |
-5.39 |
8.55 |
-4.42 |
Consolidated Net Income / (Loss) |
|
21 |
7.91 |
-5.83 |
-8.73 |
-9.24 |
-10 |
-9.99 |
-5.54 |
-5.39 |
8.55 |
-4.42 |
Net Income / (Loss) Continuing Operations |
|
21 |
7.91 |
-5.83 |
-8.73 |
-9.24 |
-10 |
-9.99 |
-5.54 |
-5.39 |
8.55 |
-4.42 |
Total Pre-Tax Income |
|
31 |
10 |
-11 |
-6.00 |
-11 |
-12 |
-15 |
-3.44 |
-6.35 |
11 |
-14 |
Total Revenue |
|
324 |
262 |
155 |
163 |
162 |
166 |
129 |
158 |
168 |
240 |
145 |
Net Interest Income / (Expense) |
|
-0.23 |
-0.16 |
-0.22 |
-0.22 |
-0.24 |
-0.22 |
-0.20 |
-0.20 |
-0.21 |
-0.20 |
-0.19 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
0.23 |
0.16 |
0.22 |
0.22 |
0.24 |
0.22 |
0.20 |
0.20 |
0.21 |
0.20 |
0.19 |
Long-Term Debt Interest Expense |
|
0.23 |
0.16 |
0.22 |
0.22 |
0.24 |
0.22 |
0.20 |
0.20 |
0.21 |
0.20 |
0.19 |
Total Non-Interest Income |
|
324 |
262 |
155 |
163 |
162 |
166 |
129 |
158 |
169 |
240 |
145 |
Net Realized & Unrealized Capital Gains on Investments |
|
324 |
262 |
155 |
163 |
162 |
166 |
129 |
158 |
169 |
240 |
145 |
Total Non-Interest Expense |
|
292 |
252 |
166 |
169 |
173 |
178 |
144 |
162 |
175 |
228 |
159 |
Other Operating Expenses |
|
290 |
253 |
168 |
170 |
174 |
180 |
146 |
163 |
175 |
228 |
160 |
Depreciation Expense |
|
2.92 |
3.24 |
3.21 |
3.47 |
3.64 |
3.32 |
3.42 |
3.33 |
4.55 |
5.29 |
2.85 |
Other Special Charges |
|
-0.98 |
-4.37 |
-4.81 |
-4.89 |
-4.42 |
-5.73 |
-5.57 |
-4.81 |
-5.32 |
-4.99 |
-3.98 |
Income Tax Expense |
|
9.94 |
2.15 |
-5.63 |
2.73 |
-2.01 |
-1.45 |
-4.75 |
2.10 |
-0.97 |
2.95 |
-9.50 |
Basic Earnings per Share |
|
$0.53 |
$0.21 |
($0.15) |
($0.23) |
($0.24) |
($0.26) |
($0.26) |
($0.14) |
($0.14) |
$0.22 |
($0.11) |
Weighted Average Basic Shares Outstanding |
|
40.09M |
39.89M |
39.20M |
38.54M |
38.49M |
38.66M |
38.45M |
38.68M |
38.76M |
38.68M |
38.93M |
Diluted Earnings per Share |
|
$0.53 |
$0.21 |
($0.15) |
($0.23) |
($0.24) |
($0.26) |
($0.26) |
($0.14) |
($0.14) |
$0.22 |
($0.11) |
Weighted Average Diluted Shares Outstanding |
|
40.30M |
40.19M |
39.20M |
38.54M |
38.49M |
38.66M |
38.45M |
38.68M |
38.76M |
38.68M |
38.93M |
Weighted Average Basic & Diluted Shares Outstanding |
|
39.37M |
39.24M |
38.48M |
38.46M |
38.38M |
38.41M |
38.68M |
38.73M |
38.82M |
38.89M |
38.98M |
Cash Dividends to Common per Share |
|
- |
- |
- |
- |
- |
- |
- |
- |
$0.25 |
- |
$0.25 |
Annual Cash Flow Statements for Marcus & Millichap
This table details how cash moves in and out of Marcus & Millichap's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
48 |
-53 |
91 |
33 |
-6.10 |
18 |
10 |
139 |
-146 |
-65 |
-17 |
Net Cash From Operating Activities |
|
71 |
72 |
74 |
67 |
117 |
25 |
38 |
256 |
14 |
-72 |
22 |
Net Cash From Continuing Operating Activities |
|
71 |
72 |
74 |
67 |
117 |
25 |
38 |
256 |
14 |
-72 |
22 |
Net Income / (Loss) Continuing Operations |
|
50 |
66 |
65 |
52 |
87 |
77 |
43 |
142 |
104 |
-34 |
-12 |
Consolidated Net Income / (Loss) |
|
50 |
66 |
65 |
52 |
87 |
77 |
43 |
142 |
104 |
-34 |
-12 |
Depreciation Expense |
|
3.21 |
3.31 |
4.39 |
5.36 |
6.30 |
8.02 |
11 |
12 |
13 |
14 |
17 |
Non-Cash Adjustments to Reconcile Net Income |
|
4.33 |
9.03 |
7.09 |
21 |
13 |
31 |
34 |
27 |
34 |
44 |
46 |
Changes in Operating Assets and Liabilities, net |
|
14 |
-6.85 |
-1.69 |
-11 |
10 |
-90 |
-49 |
75 |
-138 |
-96 |
-29 |
Net Cash From Investing Activities |
|
-17 |
-127 |
20 |
-27 |
-118 |
-3.42 |
-17 |
-108 |
-54 |
75 |
-9.90 |
Net Cash From Continuing Investing Activities |
|
-17 |
-127 |
20 |
-27 |
-118 |
-3.42 |
-17 |
-108 |
-54 |
75 |
-9.90 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-2.57 |
-6.80 |
-9.47 |
-6.55 |
-8.07 |
-8.81 |
-6.95 |
-6.86 |
-12 |
-9.37 |
-7.87 |
Purchase of Investment Securities |
|
-15 |
-146 |
-108 |
-66 |
-224 |
-174 |
-232 |
-387 |
-393 |
-307 |
-191 |
Sale and/or Maturity of Investments |
|
0.13 |
26 |
138 |
45 |
114 |
180 |
222 |
286 |
351 |
392 |
189 |
Net Cash From Financing Activities |
|
-6.01 |
1.84 |
-3.12 |
-5.78 |
-5.44 |
-3.88 |
-10 |
-5.92 |
-106 |
-68 |
-29 |
Net Cash From Continuing Financing Activities |
|
-6.01 |
1.84 |
-3.12 |
-5.78 |
-5.44 |
-3.88 |
-10 |
-5.92 |
-106 |
-68 |
-29 |
Issuance of Common Equity |
|
0.41 |
0.98 |
0.67 |
0.65 |
0.62 |
0.66 |
0.64 |
0.65 |
0.71 |
0.66 |
0.85 |
Repurchase of Common Equity |
|
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
-29 |
-39 |
-0.79 |
Payment of Dividends |
|
-0.41 |
- |
- |
- |
- |
- |
0.00 |
0.00 |
-60 |
-20 |
-20 |
Other Financing Activities, Net |
|
-5.14 |
1.75 |
-2.85 |
-5.45 |
-5.02 |
-3.45 |
-4.41 |
-6.57 |
-17 |
-8.80 |
-8.59 |
Effect of Exchange Rate Changes |
|
- |
- |
- |
- |
0.00 |
0.00 |
-0.05 |
-2.64 |
-0.37 |
0.12 |
-0.37 |
Cash Interest Paid |
|
0.64 |
0.87 |
0.63 |
1.91 |
2.20 |
2.11 |
1.22 |
0.75 |
0.61 |
0.48 |
0.58 |
Cash Income Taxes Paid |
|
36 |
43 |
37 |
35 |
24 |
40 |
7.33 |
49 |
70 |
0.67 |
0.47 |
Quarterly Cash Flow Statements for Marcus & Millichap
This table details how cash moves in and out of Marcus & Millichap's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
59 |
-35 |
-7.85 |
-57 |
53 |
-53 |
-80 |
71 |
11 |
-19 |
-3.74 |
Net Cash From Operating Activities |
|
40 |
25 |
-101 |
6.43 |
7.66 |
15 |
-51 |
0.85 |
15 |
57 |
-53 |
Net Cash From Continuing Operating Activities |
|
40 |
25 |
-101 |
6.43 |
7.66 |
15 |
-51 |
0.85 |
15 |
57 |
-53 |
Net Income / (Loss) Continuing Operations |
|
21 |
7.91 |
-5.83 |
-8.73 |
-9.24 |
-10 |
-9.99 |
-5.54 |
-5.39 |
8.55 |
-4.42 |
Consolidated Net Income / (Loss) |
|
21 |
7.91 |
-5.83 |
-8.73 |
-9.24 |
-10 |
-9.99 |
-5.54 |
-5.39 |
8.55 |
-4.42 |
Depreciation Expense |
|
2.92 |
3.24 |
3.21 |
3.47 |
3.64 |
3.32 |
3.42 |
3.33 |
4.55 |
5.29 |
2.85 |
Non-Cash Adjustments to Reconcile Net Income |
|
8.02 |
5.46 |
15 |
14 |
1.35 |
14 |
6.14 |
14 |
12 |
15 |
4.37 |
Changes in Operating Assets and Liabilities, net |
|
7.67 |
8.79 |
-113 |
-2.17 |
12 |
7.72 |
-51 |
-11 |
4.55 |
28 |
-56 |
Net Cash From Investing Activities |
|
25 |
-23 |
117 |
-35 |
46 |
-54 |
-22 |
80 |
-3.47 |
-65 |
57 |
Net Cash From Continuing Investing Activities |
|
25 |
-23 |
117 |
-35 |
46 |
-54 |
-22 |
80 |
-3.47 |
-65 |
57 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-3.54 |
-3.10 |
-2.86 |
-2.61 |
-2.22 |
-1.68 |
-2.64 |
-1.66 |
-2.05 |
-1.53 |
-1.49 |
Purchase of Investment Securities |
|
-102 |
-104 |
-67 |
-76 |
-33 |
-131 |
-66 |
-2.46 |
-40 |
-83 |
-61 |
Sale and/or Maturity of Investments |
|
131 |
85 |
187 |
44 |
82 |
79 |
47 |
84 |
38 |
19 |
120 |
Net Cash From Financing Activities |
|
-5.88 |
-38 |
-24 |
-28 |
-0.95 |
-14 |
-7.50 |
-9.73 |
-1.12 |
-10 |
-8.07 |
Net Cash From Continuing Financing Activities |
|
-5.88 |
-38 |
-24 |
-28 |
-0.95 |
-14 |
-7.50 |
-9.73 |
-1.12 |
-10 |
-8.07 |
Repurchase of Common Equity |
|
-5.66 |
-23 |
-17 |
-18 |
- |
-4.51 |
-0.55 |
- |
- |
-0.23 |
-0.43 |
Payment of Dividends |
|
-0.08 |
-10 |
-0.44 |
-9.89 |
-0.11 |
-9.66 |
-0.59 |
-9.75 |
-0.15 |
-9.74 |
-0.70 |
Other Financing Activities, Net |
|
-0.14 |
-4.49 |
-6.88 |
-0.63 |
-0.83 |
-0.45 |
-6.35 |
-0.41 |
-0.97 |
-0.86 |
-6.95 |
Effect of Exchange Rate Changes |
|
-0.26 |
0.07 |
0.02 |
0.10 |
-0.12 |
0.12 |
-0.08 |
-0.06 |
0.08 |
-0.31 |
0.00 |
Cash Interest Paid |
|
0.09 |
0.02 |
0.39 |
0.02 |
0.02 |
0.06 |
0.49 |
0.07 |
0.01 |
0.01 |
0.39 |
Cash Income Taxes Paid |
|
19 |
11 |
0.21 |
0.51 |
0.01 |
-0.05 |
0.16 |
0.26 |
0.02 |
0.02 |
0.02 |
Annual Balance Sheets for Marcus & Millichap
This table presents Marcus & Millichap's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
234 |
321 |
394 |
460 |
566 |
709 |
779 |
1,045 |
1,004 |
878 |
870 |
Cash and Due from Banks |
|
149 |
96 |
187 |
221 |
215 |
233 |
243 |
382 |
236 |
171 |
153 |
Trading Account Securities |
|
15 |
134 |
105 |
126 |
221 |
212 |
206 |
296 |
322 |
236 |
241 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
7.69 |
12 |
16 |
17 |
20 |
113 |
107 |
23 |
116 |
118 |
107 |
Intangible Assets |
|
- |
- |
- |
0.00 |
15 |
22 |
52 |
48 |
56 |
51 |
44 |
Other Assets |
|
62 |
79 |
85 |
96 |
96 |
129 |
170 |
295 |
275 |
303 |
325 |
Total Liabilities & Shareholders' Equity |
|
234 |
321 |
394 |
460 |
566 |
709 |
779 |
1,045 |
1,004 |
878 |
870 |
Total Liabilities |
|
117 |
132 |
135 |
145 |
157 |
214 |
232 |
349 |
290 |
233 |
239 |
Accrued Interest Payable |
|
29 |
- |
- |
- |
4.49 |
18 |
23 |
18 |
17 |
18 |
19 |
Other Short-Term Payables |
|
37 |
74 |
77 |
82 |
87 |
77 |
97 |
208 |
135 |
87 |
114 |
Other Long-Term Liabilities |
|
39 |
48 |
48 |
54 |
57 |
112 |
112 |
123 |
138 |
128 |
106 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
117 |
189 |
259 |
315 |
410 |
495 |
547 |
696 |
714 |
645 |
631 |
Total Preferred & Common Equity |
|
117 |
189 |
259 |
315 |
410 |
495 |
547 |
696 |
714 |
645 |
631 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
117 |
189 |
259 |
315 |
410 |
495 |
547 |
696 |
714 |
645 |
631 |
Common Stock |
|
75 |
81 |
85 |
90 |
97 |
105 |
113 |
122 |
132 |
154 |
173 |
Retained Earnings |
|
42 |
108 |
173 |
224 |
311 |
388 |
431 |
574 |
586 |
492 |
459 |
Accumulated Other Comprehensive Income / (Loss) |
|
0.16 |
0.46 |
0.81 |
0.94 |
0.78 |
1.98 |
2.57 |
0.91 |
-3.62 |
-0.77 |
-1.43 |
Quarterly Balance Sheets for Marcus & Millichap
This table presents Marcus & Millichap's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q2 2022 |
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
967 |
1,000 |
910 |
884 |
882 |
827 |
825 |
834 |
802 |
Cash and Due from Banks |
|
212 |
271 |
228 |
171 |
224 |
91 |
162 |
173 |
150 |
Trading Account Securities |
|
331 |
301 |
203 |
236 |
187 |
256 |
174 |
176 |
180 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
110 |
27 |
136 |
28 |
125 |
121 |
117 |
111 |
25 |
Intangible Assets |
|
58 |
57 |
55 |
54 |
52 |
50 |
49 |
47 |
43 |
Other Assets |
|
257 |
344 |
289 |
395 |
294 |
310 |
324 |
327 |
404 |
Total Liabilities & Shareholders' Equity |
|
967 |
1,000 |
910 |
884 |
882 |
827 |
825 |
834 |
802 |
Total Liabilities |
|
250 |
276 |
228 |
220 |
233 |
201 |
199 |
216 |
184 |
Accrued Interest Payable |
|
21 |
0.00 |
17 |
18 |
18 |
18 |
18 |
18 |
19 |
Other Short-Term Payables |
|
107 |
147 |
86 |
71 |
85 |
75 |
75 |
95 |
67 |
Other Long-Term Liabilities |
|
122 |
129 |
125 |
131 |
129 |
109 |
106 |
103 |
98 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
717 |
724 |
682 |
664 |
649 |
626 |
627 |
618 |
618 |
Total Preferred & Common Equity |
|
717 |
724 |
682 |
664 |
649 |
626 |
627 |
618 |
618 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
717 |
724 |
682 |
664 |
649 |
626 |
627 |
618 |
618 |
Common Stock |
|
124 |
128 |
133 |
140 |
145 |
155 |
162 |
167 |
175 |
Retained Earnings |
|
596 |
600 |
552 |
526 |
507 |
472 |
466 |
451 |
444 |
Accumulated Other Comprehensive Income / (Loss) |
|
-2.96 |
-3.93 |
-2.45 |
-2.60 |
-2.92 |
-1.28 |
-1.36 |
0.14 |
-1.08 |
Annual Metrics And Ratios for Marcus & Millichap
This table displays calculated financial ratios and metrics derived from Marcus & Millichap's official financial filings.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
30.92% |
20.47% |
-100.22% |
2.41% |
6.42% |
57,602.86% |
-11.06% |
80.98% |
0.40% |
-50.42% |
7.78% |
EBITDA Growth |
|
255.68% |
34.90% |
-4.08% |
-6.19% |
18.10% |
-6.47% |
-39.18% |
191.80% |
-24.19% |
-117.23% |
113.30% |
EBIT Growth |
|
291.65% |
36.13% |
-5.16% |
-7.35% |
18.13% |
-8.28% |
-44.78% |
225.62% |
-26.53% |
-128.45% |
67.75% |
NOPAT Growth |
|
525.25% |
33.96% |
-2.55% |
-20.31% |
69.35% |
-11.84% |
-44.32% |
232.58% |
-26.84% |
-127.13% |
67.75% |
Net Income Growth |
|
503.59% |
33.96% |
-2.55% |
-20.31% |
69.35% |
-11.84% |
-44.32% |
232.58% |
-26.84% |
-132.66% |
63.68% |
EPS Growth |
|
429.17% |
33.07% |
-1.78% |
-20.48% |
68.18% |
-12.16% |
-44.62% |
228.70% |
-27.04% |
-133.98% |
63.64% |
Operating Cash Flow Growth |
|
-26.31% |
0.96% |
3.28% |
-10.67% |
76.31% |
-78.45% |
50.62% |
571.87% |
-94.67% |
-631.44% |
129.98% |
Free Cash Flow Firm Growth |
|
91.32% |
-25.62% |
13.53% |
17.45% |
-81.44% |
-14.42% |
65.46% |
-176.93% |
1,343.50% |
-54.09% |
-86.64% |
Invested Capital Growth |
|
71.42% |
55.56% |
34.53% |
20.50% |
28.94% |
20.19% |
9.05% |
27.33% |
2.47% |
-9.56% |
-2.24% |
Revenue Q/Q Growth |
|
0.00% |
4.69% |
-100.21% |
99.60% |
99.09% |
98.07% |
-17.15% |
69.19% |
-28.46% |
-12.99% |
11.88% |
EBITDA Q/Q Growth |
|
0.00% |
6.10% |
-4.40% |
0.66% |
4.38% |
-13.56% |
4.25% |
33.35% |
-32.05% |
-424.88% |
116.49% |
EBIT Q/Q Growth |
|
0.00% |
6.18% |
-4.83% |
0.53% |
4.27% |
-2.95% |
3.72% |
36.25% |
-34.14% |
-116.60% |
64.02% |
NOPAT Q/Q Growth |
|
0.00% |
5.60% |
-4.12% |
-14.44% |
25.53% |
-6.68% |
7.26% |
36.87% |
-34.17% |
-116.60% |
64.02% |
Net Income Q/Q Growth |
|
0.00% |
5.60% |
-4.12% |
-14.44% |
25.53% |
-6.68% |
7.26% |
36.87% |
-34.17% |
-114.19% |
60.31% |
EPS Q/Q Growth |
|
0.00% |
4.97% |
-3.49% |
-14.29% |
25.42% |
-7.14% |
8.00% |
37.07% |
-34.26% |
-114.63% |
60.00% |
Operating Cash Flow Q/Q Growth |
|
2.40% |
-3.98% |
-0.76% |
14.12% |
21.93% |
-55.04% |
1,139.04% |
54.21% |
-90.57% |
-17.37% |
207.19% |
Free Cash Flow Firm Q/Q Growth |
|
0.00% |
0.00% |
-33.78% |
16.04% |
-32.38% |
-24.25% |
-3.86% |
2.06% |
30.62% |
-35.09% |
-15.03% |
Invested Capital Q/Q Growth |
|
0.00% |
10.30% |
6.73% |
2.40% |
6.89% |
4.76% |
4.95% |
10.13% |
-1.44% |
-0.63% |
2.12% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
15.10% |
16.91% |
0.00% |
0.00% |
0.00% |
14.35% |
9.81% |
15.82% |
11.95% |
-4.15% |
0.51% |
EBIT Margin |
|
14.54% |
16.43% |
0.00% |
0.00% |
0.00% |
13.35% |
8.29% |
14.92% |
10.92% |
-6.26% |
-1.87% |
Profit (Net Income) Margin |
|
8.68% |
9.65% |
0.00% |
0.00% |
0.00% |
9.56% |
5.98% |
10.99% |
8.01% |
-5.28% |
-1.78% |
Tax Burden Percent |
|
59.69% |
58.53% |
60.37% |
51.93% |
74.44% |
71.55% |
72.16% |
73.70% |
73.38% |
84.24% |
94.89% |
Interest Burden Percent |
|
100.03% |
100.39% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
40.31% |
41.47% |
39.63% |
48.07% |
25.56% |
28.45% |
27.84% |
26.30% |
26.62% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
48.76% |
40.47% |
0.00% |
0.00% |
0.00% |
16.75% |
8.17% |
22.92% |
14.79% |
-4.16% |
-1.43% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
48.76% |
40.47% |
0.00% |
0.00% |
0.00% |
16.75% |
8.17% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
6.49% |
2.93% |
0.00% |
0.00% |
0.00% |
0.26% |
0.05% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity (ROE) |
|
55.25% |
43.39% |
28.87% |
17.96% |
24.09% |
17.01% |
8.22% |
0.00% |
0.00% |
0.00% |
0.00% |
Cash Return on Invested Capital (CROIC) |
|
-3.87% |
-3.01% |
-1.82% |
-1.19% |
-1.73% |
-1.59% |
-0.48% |
-1.13% |
12.34% |
5.88% |
0.84% |
Operating Return on Assets (OROA) |
|
41.38% |
40.71% |
0.00% |
0.00% |
0.00% |
16.86% |
7.98% |
21.19% |
13.86% |
-4.29% |
-1.49% |
Return on Assets (ROA) |
|
24.71% |
23.92% |
0.00% |
0.00% |
0.00% |
12.06% |
5.76% |
15.62% |
10.17% |
-3.62% |
-1.41% |
Return on Common Equity (ROCE) |
|
55.25% |
43.39% |
28.87% |
17.96% |
24.09% |
17.01% |
8.22% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
42.40% |
35.11% |
24.98% |
16.36% |
21.30% |
15.54% |
7.83% |
20.46% |
14.61% |
-5.27% |
-1.96% |
Net Operating Profit after Tax (NOPAT) |
|
50 |
66 |
65 |
52 |
87 |
77 |
43 |
142 |
104 |
-28 |
-9.12 |
NOPAT Margin |
|
8.68% |
9.65% |
0.00% |
0.00% |
0.00% |
9.56% |
5.98% |
10.99% |
8.01% |
-4.38% |
-1.31% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
85.46% |
83.57% |
0.00% |
0.00% |
0.00% |
86.65% |
91.71% |
85.08% |
89.08% |
106.26% |
101.87% |
Earnings before Interest and Taxes (EBIT) |
|
83 |
113 |
107 |
99 |
117 |
108 |
59 |
193 |
142 |
-40 |
-13 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
86 |
116 |
111 |
105 |
124 |
116 |
70 |
205 |
155 |
-27 |
3.56 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
9.86 |
5.41 |
3.67 |
3.74 |
3.06 |
2.79 |
2.54 |
2.77 |
1.85 |
2.56 |
2.35 |
Price to Tangible Book Value (P/TBV) |
|
9.86 |
5.41 |
3.67 |
3.74 |
3.18 |
2.92 |
2.80 |
2.98 |
2.00 |
2.78 |
2.53 |
Price to Revenue (P/Rev) |
|
2.02 |
1.49 |
0.00 |
0.00 |
0.00 |
1.71 |
1.94 |
1.49 |
1.01 |
2.56 |
2.14 |
Price to Earnings (P/E) |
|
23.25 |
15.42 |
14.70 |
22.83 |
14.38 |
17.92 |
32.36 |
13.55 |
12.64 |
0.00 |
0.00 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
1.49% |
1.16% |
1.31% |
Earnings Yield |
|
4.30% |
6.49% |
6.80% |
4.38% |
6.95% |
5.58% |
3.09% |
7.38% |
7.91% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
7.90 |
4.70 |
2.88 |
2.98 |
2.51 |
2.30 |
2.09 |
2.22 |
1.52 |
2.30 |
2.11 |
Enterprise Value to Revenue (EV/Rev) |
|
1.78 |
1.36 |
0.00 |
0.00 |
0.00 |
1.43 |
1.60 |
1.19 |
0.83 |
2.30 |
1.92 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
11.77 |
8.06 |
6.93 |
9.22 |
8.48 |
9.97 |
16.27 |
7.55 |
6.96 |
0.00 |
374.04 |
Enterprise Value to EBIT (EV/EBIT) |
|
12.22 |
8.30 |
7.22 |
9.72 |
8.94 |
10.72 |
19.26 |
8.01 |
7.61 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
20.47 |
14.13 |
11.95 |
18.71 |
12.01 |
14.98 |
26.69 |
10.87 |
10.37 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
14.19 |
13.00 |
10.38 |
14.49 |
8.93 |
45.57 |
30.01 |
6.05 |
79.32 |
0.00 |
61.34 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
12.42 |
37.13 |
249.60 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.10 |
0.06 |
0.04 |
0.03 |
0.02 |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to Equity |
|
0.09 |
0.05 |
0.03 |
0.02 |
0.02 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.13 |
0.07 |
0.05 |
0.03 |
0.02 |
0.02 |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage Ratio |
|
2.24 |
1.81 |
1.60 |
1.49 |
1.42 |
1.41 |
1.43 |
1.47 |
1.45 |
1.39 |
1.37 |
Compound Leverage Factor |
|
2.24 |
1.82 |
1.60 |
1.49 |
1.42 |
1.41 |
1.43 |
1.47 |
1.45 |
1.39 |
1.37 |
Debt to Total Capital |
|
8.97% |
5.32% |
3.60% |
2.68% |
1.83% |
1.31% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Short-Term Debt to Total Capital |
|
0.70% |
0.47% |
0.37% |
0.32% |
0.26% |
1.31% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
8.27% |
4.85% |
3.23% |
2.36% |
1.57% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
91.03% |
94.68% |
96.40% |
97.32% |
98.17% |
98.69% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Debt to EBITDA |
|
0.13 |
0.09 |
0.09 |
0.08 |
0.06 |
0.06 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to EBITDA |
|
-1.60 |
-0.74 |
-1.59 |
-2.03 |
-1.68 |
-1.96 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to EBITDA |
|
0.12 |
0.08 |
0.08 |
0.07 |
0.05 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.23 |
0.16 |
0.15 |
0.17 |
0.09 |
0.09 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to NOPAT |
|
-2.78 |
-1.29 |
-2.75 |
-4.12 |
-2.37 |
-2.94 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to NOPAT |
|
0.21 |
0.15 |
0.13 |
0.15 |
0.08 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-3.93 |
-4.94 |
-4.27 |
-3.52 |
-6.39 |
-7.32 |
-2.53 |
-7.00 |
87 |
40 |
5.34 |
Operating Cash Flow to CapEx |
|
2,785.07% |
1,061.21% |
789.63% |
1,016.76% |
1,453.34% |
287.65% |
548.42% |
3,732.00% |
116.83% |
-773.00% |
275.80% |
Free Cash Flow to Firm to Interest Expense |
|
-2.38 |
-2.86 |
-2.78 |
-2.36 |
-4.57 |
-5.27 |
-2.81 |
-12.07 |
122.91 |
44.99 |
6.57 |
Operating Cash Flow to Interest Expense |
|
43.27 |
41.78 |
48.59 |
44.48 |
83.80 |
18.22 |
42.32 |
441.21 |
19.25 |
-81.57 |
26.74 |
Operating Cash Flow Less CapEx to Interest Expense |
|
41.72 |
37.85 |
42.44 |
40.10 |
78.03 |
11.88 |
34.60 |
429.39 |
2.77 |
-92.12 |
17.05 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
2.85 |
2.48 |
0.00 |
0.00 |
0.00 |
1.26 |
0.96 |
1.42 |
1.27 |
0.69 |
0.80 |
Fixed Asset Turnover |
|
70.21 |
71.33 |
0.00 |
0.00 |
0.00 |
12.13 |
6.49 |
19.84 |
18.75 |
5.53 |
6.19 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
128 |
200 |
269 |
324 |
417 |
501 |
547 |
696 |
714 |
645 |
631 |
Invested Capital Turnover |
|
5.62 |
4.19 |
0.00 |
0.00 |
0.00 |
1.75 |
1.37 |
2.08 |
1.85 |
0.95 |
1.09 |
Increase / (Decrease) in Invested Capital |
|
53 |
71 |
69 |
55 |
94 |
84 |
45 |
149 |
17 |
-68 |
-14 |
Enterprise Value (EV) |
|
1,014 |
937 |
773 |
964 |
1,048 |
1,152 |
1,143 |
1,548 |
1,081 |
1,483 |
1,332 |
Market Capitalization |
|
1,152 |
1,023 |
950 |
1,176 |
1,255 |
1,378 |
1,386 |
1,930 |
1,317 |
1,654 |
1,485 |
Book Value per Share |
|
$3.19 |
$5.09 |
$6.88 |
$8.26 |
$10.60 |
$12.65 |
$13.89 |
$17.55 |
$18.13 |
$16.81 |
$16.25 |
Tangible Book Value per Share |
|
$3.19 |
$5.09 |
$6.88 |
$8.26 |
$10.20 |
$12.08 |
$12.57 |
$16.34 |
$16.71 |
$15.48 |
$15.13 |
Total Capital |
|
128 |
200 |
269 |
324 |
417 |
501 |
547 |
696 |
714 |
645 |
631 |
Total Debt |
|
12 |
11 |
9.67 |
8.69 |
7.65 |
6.56 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Long-Term Debt |
|
11 |
9.67 |
8.69 |
7.65 |
6.56 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-138 |
-86 |
-178 |
-212 |
-207 |
-226 |
-243 |
-382 |
-236 |
-171 |
-153 |
Capital Expenditures (CapEx) |
|
2.57 |
6.80 |
9.43 |
6.54 |
8.07 |
8.79 |
6.95 |
6.86 |
12 |
9.37 |
7.87 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
5.75 |
3.24 |
Net Nonoperating Obligations (NNO) |
|
12 |
11 |
9.67 |
8.69 |
7.65 |
6.56 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Depreciation and Amortization (D&A) |
|
3.21 |
3.31 |
4.39 |
5.36 |
6.30 |
8.02 |
11 |
12 |
13 |
14 |
17 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.27 |
$1.71 |
$1.66 |
$1.32 |
$2.23 |
$1.95 |
$1.08 |
$3.57 |
$2.61 |
($0.88) |
($0.32) |
Adjusted Weighted Average Basic Shares Outstanding |
|
38.85M |
38.85M |
38.90M |
38.99M |
39.15M |
39.40M |
39.64M |
39.89M |
39.89M |
38.66M |
38.68M |
Adjusted Diluted Earnings per Share |
|
$1.27 |
$1.69 |
$1.66 |
$1.32 |
$2.22 |
$1.95 |
$1.08 |
$3.55 |
$2.59 |
($0.88) |
($0.32) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
38.98M |
39.16M |
39.04M |
39.10M |
39.38M |
39.55M |
39.74M |
40.19M |
40.19M |
38.66M |
38.68M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
37.07M |
37.57M |
38.07M |
38.58M |
38.98M |
39.19M |
39.40M |
39.69M |
39.24M |
38.41M |
38.89M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
50 |
66 |
65 |
52 |
-524 |
77 |
38 |
139 |
100 |
-42 |
-24 |
Normalized NOPAT Margin |
|
8.68% |
9.65% |
0.00% |
0.00% |
0.00% |
9.56% |
5.31% |
10.74% |
7.71% |
-6.54% |
-3.40% |
Pre Tax Income Margin |
|
14.54% |
16.49% |
0.00% |
0.00% |
0.00% |
13.35% |
8.29% |
14.92% |
10.92% |
-6.26% |
-1.87% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
50.25 |
65.43 |
69.86 |
66.33 |
83.73 |
77.46 |
65.96 |
333.28 |
200.61 |
-45.50 |
-16.04 |
NOPAT to Interest Expense |
|
30.00 |
38.44 |
42.18 |
34.44 |
62.33 |
55.43 |
47.60 |
245.64 |
147.21 |
-31.85 |
-11.23 |
EBIT Less CapEx to Interest Expense |
|
48.69 |
61.49 |
63.71 |
61.95 |
77.96 |
71.12 |
58.24 |
321.46 |
184.13 |
-56.05 |
-25.74 |
NOPAT Less CapEx to Interest Expense |
|
28.45 |
34.50 |
36.02 |
30.07 |
56.56 |
49.09 |
39.88 |
233.82 |
130.73 |
-42.40 |
-20.93 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.83% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
57.91% |
-59.07% |
-163.61% |
Augmented Payout Ratio |
|
0.83% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
85.79% |
-174.95% |
-169.96% |
Quarterly Metrics And Ratios for Marcus & Millichap
This table displays calculated financial ratios and metrics derived from Marcus & Millichap's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-2.60% |
-66.37% |
-51.59% |
-58.91% |
-50.01% |
-36.70% |
-16.61% |
-2.76% |
4.03% |
44.48% |
12.37% |
EBITDA Growth |
|
-29.25% |
-84.64% |
-117.05% |
-104.26% |
-122.24% |
-162.91% |
-36.95% |
95.70% |
76.33% |
300.54% |
2.13% |
EBIT Growth |
|
-31.24% |
-87.98% |
-125.74% |
-110.69% |
-135.94% |
-216.09% |
-28.49% |
42.71% |
43.54% |
198.38% |
5.53% |
NOPAT Growth |
|
-37.03% |
-87.24% |
-124.48% |
-109.96% |
-136.86% |
-203.37% |
-28.49% |
42.71% |
43.54% |
204.51% |
5.53% |
Net Income Growth |
|
-37.03% |
-87.24% |
-117.79% |
-120.70% |
-143.25% |
-229.34% |
-71.22% |
36.56% |
41.72% |
183.53% |
55.72% |
EPS Growth |
|
-36.90% |
-86.54% |
-118.52% |
-122.12% |
-145.28% |
-223.81% |
-73.33% |
39.13% |
41.67% |
184.62% |
57.69% |
Operating Cash Flow Growth |
|
-39.41% |
-83.75% |
-49.86% |
-59.02% |
-80.88% |
-42.20% |
49.59% |
-86.77% |
98.79% |
285.83% |
-3.57% |
Free Cash Flow Firm Growth |
|
9.03% |
89.38% |
127.27% |
162.77% |
194.89% |
746.25% |
28.95% |
-28.97% |
-59.27% |
-61.70% |
-103.76% |
Invested Capital Growth |
|
14.50% |
2.47% |
-6.05% |
-7.43% |
-10.31% |
-9.56% |
-8.30% |
-5.61% |
-4.87% |
-2.24% |
-1.28% |
Revenue Q/Q Growth |
|
-18.24% |
-18.95% |
-41.07% |
5.22% |
-0.53% |
2.62% |
-22.36% |
22.70% |
6.41% |
42.53% |
-39.61% |
EBITDA Q/Q Growth |
|
-42.44% |
-61.13% |
-162.08% |
69.33% |
-200.55% |
-9.93% |
-35.15% |
99.04% |
-1,553.21% |
1,031.35% |
-165.96% |
EBIT Q/Q Growth |
|
-44.23% |
-67.84% |
-213.92% |
47.66% |
-87.47% |
-3.86% |
-26.10% |
76.66% |
-84.76% |
280.97% |
-221.09% |
NOPAT Q/Q Growth |
|
-49.34% |
-62.96% |
-201.44% |
47.66% |
-87.47% |
-3.86% |
-26.10% |
76.66% |
-84.76% |
292.25% |
-213.98% |
Net Income Q/Q Growth |
|
-49.34% |
-62.96% |
-173.72% |
-49.65% |
-5.85% |
-10.75% |
2.40% |
44.55% |
2.76% |
258.74% |
-151.73% |
EPS Q/Q Growth |
|
-49.04% |
-60.38% |
-171.43% |
-53.33% |
-4.35% |
-8.33% |
0.00% |
46.15% |
0.00% |
257.14% |
-150.00% |
Operating Cash Flow Q/Q Growth |
|
155.27% |
-36.59% |
-498.39% |
106.36% |
19.11% |
91.67% |
-447.46% |
101.67% |
1,689.54% |
272.02% |
-193.27% |
Free Cash Flow Firm Q/Q Growth |
|
10.01% |
86.79% |
486.30% |
36.63% |
36.05% |
-10.01% |
-22.92% |
-24.73% |
-22.00% |
-15.36% |
-107.57% |
Invested Capital Q/Q Growth |
|
0.95% |
-1.44% |
-4.39% |
-2.67% |
-2.19% |
-0.63% |
-3.06% |
0.18% |
-1.43% |
2.12% |
-2.10% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
10.58% |
5.07% |
-5.34% |
-1.56% |
-4.71% |
-5.04% |
-8.77% |
-0.07% |
-1.07% |
7.00% |
-7.64% |
EBIT Margin |
|
9.67% |
3.84% |
-7.42% |
-3.69% |
-6.95% |
-7.04% |
-11.43% |
-2.17% |
-3.77% |
4.79% |
-9.61% |
Profit (Net Income) Margin |
|
6.60% |
3.02% |
-3.77% |
-5.37% |
-5.71% |
-6.16% |
-7.75% |
-3.50% |
-3.20% |
3.56% |
-3.05% |
Tax Burden Percent |
|
68.25% |
78.61% |
50.87% |
145.46% |
82.13% |
87.58% |
67.79% |
161.08% |
84.78% |
74.36% |
31.77% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
31.75% |
21.39% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
25.64% |
0.00% |
Return on Invested Capital (ROIC) |
|
17.70% |
5.57% |
-8.38% |
-3.38% |
-5.25% |
-4.68% |
-7.58% |
-1.45% |
-2.59% |
3.88% |
-7.70% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
0.00% |
0.27% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.00% |
0.01% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity (ROE) |
|
0.00% |
0.00% |
-8.37% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Cash Return on Invested Capital (CROIC) |
|
9.82% |
12.34% |
15.56% |
9.84% |
8.96% |
5.88% |
3.98% |
1.31% |
0.99% |
0.84% |
-0.09% |
Operating Return on Assets (OROA) |
|
18.76% |
4.87% |
-8.92% |
-3.60% |
-5.48% |
-4.82% |
-8.15% |
-1.56% |
-2.73% |
3.81% |
-8.39% |
Return on Assets (ROA) |
|
12.81% |
3.83% |
-4.54% |
-5.24% |
-4.50% |
-4.22% |
-5.52% |
-2.52% |
-2.32% |
2.83% |
-2.67% |
Return on Common Equity (ROCE) |
|
0.00% |
0.00% |
-8.37% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
21.87% |
0.00% |
9.62% |
2.22% |
-2.45% |
0.00% |
-6.10% |
-5.58% |
-5.04% |
0.00% |
-1.10% |
Net Operating Profit after Tax (NOPAT) |
|
21 |
7.91 |
-8.03 |
-4.20 |
-7.88 |
-8.18 |
-10 |
-2.41 |
-4.45 |
8.55 |
-9.74 |
NOPAT Margin |
|
6.60% |
3.02% |
-5.19% |
-2.58% |
-4.87% |
-4.93% |
-8.00% |
-1.52% |
-2.64% |
3.56% |
-6.73% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
-8.65% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
90.33% |
96.16% |
107.42% |
103.69% |
106.95% |
107.04% |
111.43% |
102.17% |
103.77% |
95.21% |
109.61% |
Earnings before Interest and Taxes (EBIT) |
|
31 |
10 |
-11 |
-6.00 |
-11 |
-12 |
-15 |
-3.44 |
-6.35 |
11 |
-14 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
34 |
13 |
-8.26 |
-2.53 |
-7.61 |
-8.37 |
-11 |
-0.11 |
-1.80 |
17 |
-11 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.77 |
1.85 |
1.82 |
1.80 |
1.71 |
2.56 |
2.07 |
1.95 |
2.48 |
2.35 |
2.17 |
Price to Tangible Book Value (P/TBV) |
|
1.92 |
2.00 |
1.98 |
1.96 |
1.86 |
2.78 |
2.25 |
2.11 |
2.69 |
2.53 |
2.33 |
Price to Revenue (P/Rev) |
|
0.70 |
1.01 |
1.09 |
1.32 |
1.50 |
2.56 |
2.09 |
1.98 |
2.47 |
2.14 |
1.88 |
Price to Earnings (P/E) |
|
8.09 |
12.64 |
18.92 |
81.16 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
1.56% |
1.49% |
1.58% |
1.61% |
1.73% |
1.16% |
1.48% |
1.59% |
1.26% |
1.31% |
1.45% |
Earnings Yield |
|
12.37% |
7.91% |
5.29% |
1.23% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.39 |
1.52 |
1.49 |
1.54 |
1.37 |
2.30 |
1.92 |
1.69 |
2.21 |
2.11 |
1.93 |
Enterprise Value to Revenue (EV/Rev) |
|
0.56 |
0.83 |
0.89 |
1.13 |
1.20 |
2.30 |
1.94 |
1.72 |
2.19 |
1.92 |
1.67 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
4.41 |
6.96 |
10.26 |
27.84 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
374.04 |
312.99 |
Enterprise Value to EBIT (EV/EBIT) |
|
4.68 |
7.61 |
11.78 |
42.80 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
6.38 |
10.37 |
15.44 |
69.52 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
6.98 |
79.32 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
61.34 |
59.82 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
15.15 |
12.42 |
9.25 |
15.05 |
14.45 |
37.13 |
46.23 |
124.72 |
216.90 |
249.60 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.00 |
0.00 |
0.04 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage Ratio |
|
1.38 |
1.45 |
1.39 |
1.34 |
1.37 |
1.39 |
1.33 |
1.32 |
1.35 |
1.37 |
1.31 |
Compound Leverage Factor |
|
1.38 |
1.45 |
1.39 |
1.34 |
1.37 |
1.39 |
1.33 |
1.32 |
1.35 |
1.37 |
1.31 |
Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-70 |
-9.29 |
36 |
49 |
67 |
60 |
46 |
35 |
27 |
23 |
-1.74 |
Operating Cash Flow to CapEx |
|
1,131.14% |
818.96% |
-3,535.00% |
246.82% |
345.09% |
873.53% |
-1,933.35% |
51.36% |
743.60% |
3,705.36% |
-3,544.00% |
Free Cash Flow to Firm to Interest Expense |
|
-307.12 |
-57.72 |
166.97 |
227.08 |
276.90 |
278.04 |
232.61 |
170.80 |
130.67 |
114.45 |
-9.31 |
Operating Cash Flow to Interest Expense |
|
174.96 |
157.79 |
-470.73 |
29.78 |
31.79 |
67.98 |
-256.39 |
4.17 |
73.22 |
281.87 |
-282.57 |
Operating Cash Flow Less CapEx to Interest Expense |
|
159.49 |
138.52 |
-484.05 |
17.71 |
22.58 |
60.20 |
-269.65 |
-3.95 |
63.37 |
274.26 |
-290.55 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
1.94 |
1.27 |
1.20 |
0.98 |
0.79 |
0.69 |
0.71 |
0.72 |
0.72 |
0.80 |
0.87 |
Fixed Asset Turnover |
|
73.17 |
18.75 |
9.58 |
13.07 |
9.77 |
5.53 |
4.82 |
8.48 |
5.26 |
6.19 |
9.77 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
724 |
714 |
682 |
664 |
649 |
645 |
626 |
627 |
618 |
631 |
618 |
Invested Capital Turnover |
|
2.68 |
1.85 |
1.61 |
1.31 |
1.08 |
0.95 |
0.95 |
0.95 |
0.98 |
1.09 |
1.14 |
Increase / (Decrease) in Invested Capital |
|
92 |
17 |
-44 |
-53 |
-75 |
-68 |
-57 |
-37 |
-32 |
-14 |
-8.00 |
Enterprise Value (EV) |
|
1,009 |
1,081 |
1,013 |
1,023 |
889 |
1,483 |
1,204 |
1,057 |
1,362 |
1,332 |
1,190 |
Market Capitalization |
|
1,280 |
1,317 |
1,241 |
1,194 |
1,113 |
1,654 |
1,294 |
1,219 |
1,535 |
1,485 |
1,340 |
Book Value per Share |
|
$18.12 |
$18.13 |
$17.38 |
$17.26 |
$16.88 |
$16.81 |
$16.27 |
$16.20 |
$15.95 |
$16.25 |
$15.88 |
Tangible Book Value per Share |
|
$16.69 |
$16.71 |
$15.99 |
$15.86 |
$15.53 |
$15.48 |
$14.97 |
$14.94 |
$14.74 |
$15.13 |
$14.78 |
Total Capital |
|
724 |
714 |
682 |
664 |
649 |
645 |
626 |
627 |
618 |
631 |
618 |
Total Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-271 |
-236 |
-228 |
-171 |
-224 |
-171 |
-91 |
-162 |
-173 |
-153 |
-150 |
Capital Expenditures (CapEx) |
|
3.54 |
3.10 |
2.86 |
2.61 |
2.22 |
1.68 |
2.64 |
1.66 |
2.05 |
1.53 |
1.49 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
-2.19 |
4.53 |
1.37 |
2.05 |
-0.33 |
3.13 |
0.94 |
0.00 |
-5.32 |
Net Nonoperating Obligations (NNO) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Depreciation and Amortization (D&A) |
|
2.92 |
3.24 |
3.21 |
3.47 |
3.64 |
3.32 |
3.42 |
3.33 |
4.55 |
5.29 |
2.85 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.53 |
$0.21 |
($0.15) |
($0.23) |
($0.24) |
($0.26) |
($0.26) |
($0.14) |
($0.14) |
$0.22 |
($0.11) |
Adjusted Weighted Average Basic Shares Outstanding |
|
40.09M |
39.89M |
39.20M |
38.54M |
38.49M |
38.66M |
38.45M |
38.68M |
38.76M |
38.68M |
38.93M |
Adjusted Diluted Earnings per Share |
|
$0.53 |
$0.21 |
($0.15) |
($0.23) |
($0.24) |
($0.26) |
($0.26) |
($0.14) |
($0.14) |
$0.22 |
($0.11) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
40.30M |
40.19M |
39.20M |
38.54M |
38.49M |
38.66M |
38.45M |
38.68M |
38.76M |
38.68M |
38.93M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
39.37M |
39.24M |
38.48M |
38.46M |
38.38M |
38.41M |
38.68M |
38.73M |
38.82M |
38.89M |
38.98M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
21 |
4.48 |
-11 |
-7.62 |
-11 |
-12 |
-14 |
-5.78 |
-8.17 |
4.84 |
-13 |
Normalized NOPAT Margin |
|
6.39% |
1.71% |
-7.37% |
-4.69% |
-6.78% |
-7.34% |
-11.02% |
-3.65% |
-4.86% |
2.02% |
-8.65% |
Pre Tax Income Margin |
|
9.67% |
3.84% |
-7.42% |
-3.69% |
-6.95% |
-7.04% |
-11.43% |
-2.17% |
-3.77% |
4.79% |
-9.61% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
136.69 |
62.52 |
-53.33 |
-27.78 |
-46.68 |
-54.09 |
-74.04 |
-16.85 |
-30.54 |
57.19 |
-74.43 |
NOPAT to Interest Expense |
|
93.28 |
49.14 |
-37.33 |
-19.45 |
-32.68 |
-37.86 |
-51.82 |
-11.80 |
-21.38 |
42.53 |
-52.10 |
EBIT Less CapEx to Interest Expense |
|
121.22 |
43.25 |
-66.65 |
-39.85 |
-55.89 |
-61.88 |
-87.30 |
-24.98 |
-40.38 |
49.58 |
-82.41 |
NOPAT Less CapEx to Interest Expense |
|
77.82 |
29.88 |
-50.65 |
-31.51 |
-41.89 |
-45.65 |
-65.09 |
-19.92 |
-31.22 |
34.92 |
-60.08 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
31.68% |
57.91% |
92.67% |
140.04% |
-129.87% |
-59.07% |
-53.04% |
-57.47% |
-64.70% |
-163.61% |
-299.12% |
Augmented Payout Ratio |
|
35.26% |
85.79% |
162.40% |
574.93% |
-496.90% |
-174.95% |
-114.04% |
-71.95% |
-80.97% |
-169.96% |
-308.77% |
Key Financial Trends
Marcus & Millichap (NYSE: MMI) has reported quarterly results that show some notable trends over the last several quarters, particularly through Q1 2025 compared with the prior three years’ data. Here is a detailed summary of key financial highlights and trends from their income statements, cash flow statements, and balance sheets:
- Strong net realized and unrealized capital gains on investments remain a significant part of revenue, with $145 million recorded in Q1 2025.
- The company maintains a strong equity base with total common equity exceeding $600 million through Q1 2025, indicating financial stability and shareholder value.
- Consistent cash flow generation from investing activities driven by sales and maturities of investments ($119.9 million in Q1 2025) supports liquidity.
- During recent quarters, the company has managed to keep long-term debt interest expense relatively stable, around $187,000 in Q1 2025, showing control over financing costs.
- Total assets have remained stable around $800 million as of Q1 2025, with a slight decrease from highs near $900 million seen in prior years.
- Depreciation expense is steady around $3 million per quarter, reflecting consistent asset usage and capital spending patterns.
- No loans and leases net of allowance were reported across all periods, indicating the company’s core business is not lending.
- Weighted average shares outstanding have hovered around 38-40 million, indicating limited dilution impact from share issuance or buybacks.
- Net income has been negative for five consecutive quarters, including a loss of $4.4 million in Q1 2025, highlighting ongoing profitability challenges.
- Operating activities are generating a negative cash flow of approximately $52.8 million in Q1 2025, primarily due to large changes in operating assets and liabilities, signaling potential operational inefficiencies or working capital management issues.
- Other operating expenses are consistently high, exceeding $159 million in Q1 2025, and outpacing total revenue, pressuring margins.
- The company consistently pays dividends ($0.25 per share in recent quarters), which may strain cash flow given current losses and negative operating cash flow.
- Total liabilities increased marginally to $184 million at Q1 2025, and includes significant other long-term liabilities around $98 million, representing financial obligations that the company must manage.
Summary: Marcus & Millichap continues to rely heavily on investment gains for its revenue, but operating expenses are outpacing revenues leading to recurring net losses and negative cash flows from operations in recent quarters. While the balance sheet remains strong with ample equity, the company's profitability and cash flow challenges warrant investor caution. If cost controls improve and net income turns positive, the company could restore better financial health.
10/22/25 02:34 AM ETAI Generated. May Contain Errors.