Marcus & Millichap (MMI) Financials

$28.66 +1.21 (+4.39%)

Closing price 03:59 PM Eastern

Extended Trading

$28.68 +0.01 (+0.03%)

As of 04:10 PM Eastern

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.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	66	65	52	87	77	43	142	104	-34	-12	-1.91
Consolidated Net Income / (Loss)	66	65	52	87	77	43	142	104	-34	-12	-1.91
Net Income / (Loss) Continuing Operations	66	65	52	87	77	43	142	104	-34	-12	-1.91
Total Pre-Tax Income	113	107	99	117	108	59	193	142	-40	-13	3.02
Total Revenue	687	-1.53	-1.50	-1.40	805	716	1,296	1,301	645	695	754
Net Interest Income / (Expense)	-1.73	-1.53	-1.50	-1.40	-1.39	-0.90	-0.58	-0.71	-0.89	-0.81	-0.77
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	1.73	1.53	1.50	1.40	1.39	0.90	0.58	0.71	0.89	0.81	0.77
Long-Term Debt Interest Expense	1.73	1.53	1.50	1.40	1.39	0.90	0.58	0.71	0.89	0.81	0.77
Total Non-Interest Income	689	0.00	0.00	0.00	806	717	1,296	1,302	646	696	755
Net Realized & Unrealized Capital Gains on Investments	-	-	-	-	-	717	1,296	1,302	646	696	755
Total Non-Interest Expense	574	-109	-101	-119	698	657	1,103	1,159	685	708	751
Other Operating Expenses	571	-113	-106	696	690	652	1,095	1,151	692	712	757
Depreciation Expense	3.31	4.39	5.36	6.30	8.02	11	12	13	14	17	12
Other Special Charges	-	-	-	-821	-	-6.65	-4.53	-5.34	-20	-21	-18
Income Tax Expense	47	42	48	30	31	17	51	38	-6.37	-0.67	4.93
Basic Earnings per Share	$1.71	$1.66	$1.32	$2.23	$1.95	$1.08	$3.57	$2.61	($0.88)	($0.32)	($0.05)
Weighted Average Basic Shares Outstanding	38.85M	38.90M	38.99M	39.15M	39.40M	39.64M	39.89M	39.89M	38.66M	38.68M	38.94M
Diluted Earnings per Share	$1.69	$1.66	$1.32	$2.22	$1.95	$1.08	$3.55	$2.59	($0.88)	($0.32)	($0.05)
Weighted Average Diluted Shares Outstanding	39.16M	39.04M	39.10M	39.38M	39.55M	39.74M	40.19M	40.19M	38.66M	38.68M	38.94M
Weighted Average Basic & Diluted Shares Outstanding	38.80M	39M	39M	39.10M	39.19M	39.40M	39.69M	39.24M	38.41M	38.89M	38.23M

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.73	-9.24	-10	-9.99	-5.54	-5.39	8.55	-4.42	-11	0.24	13
Consolidated Net Income / (Loss)	-8.73	-9.24	-10	-9.99	-5.54	-5.39	8.55	-4.42	-11	0.24	13
Net Income / (Loss) Continuing Operations	-8.73	-9.24	-10	-9.99	-5.54	-5.39	8.55	-4.42	-11	0.24	13
Total Pre-Tax Income	-6.00	-11	-12	-15	-3.44	-6.35	11	-14	-3.75	1.47	19
Total Revenue	163	162	166	129	158	168	240	145	172	194	244
Net Interest Income / (Expense)	-0.22	-0.24	-0.22	-0.20	-0.20	-0.21	-0.20	-0.19	-0.20	-0.20	-0.19
Total Interest Expense	0.22	0.24	0.22	0.20	0.20	0.21	0.20	0.19	0.20	0.20	0.19
Long-Term Debt Interest Expense	0.22	0.24	0.22	0.20	0.20	0.21	0.20	0.19	0.20	0.20	0.19
Total Non-Interest Income	163	162	166	129	158	169	240	145	172	194	244
Net Realized & Unrealized Capital Gains on Investments	163	162	166	129	158	169	240	145	172	194	244
Total Non-Interest Expense	169	173	178	144	162	175	228	159	176	192	225
Other Operating Expenses	170	174	180	146	163	175	228	160	178	194	225
Depreciation Expense	3.47	3.64	3.32	3.42	3.33	4.55	5.29	2.85	3.15	2.74	3.35
Other Special Charges	-4.89	-4.42	-5.73	-5.57	-4.81	-5.32	-4.99	-3.98	-5.50	-4.04	-3.99
Income Tax Expense	2.73	-2.01	-1.45	-4.75	2.10	-0.97	2.95	-9.50	7.29	1.23	5.91
Basic Earnings per Share	($0.23)	($0.24)	($0.26)	($0.26)	($0.14)	($0.14)	$0.22	($0.11)	($0.28)	$0.01	$0.33
Weighted Average Basic Shares Outstanding	38.54M	38.49M	38.66M	38.45M	38.68M	38.76M	38.68M	38.93M	39.00M	39.01M	38.94M
Diluted Earnings per Share	($0.23)	($0.24)	($0.26)	($0.26)	($0.14)	($0.14)	$0.22	($0.11)	($0.28)	$0.01	$0.33
Weighted Average Diluted Shares Outstanding	38.54M	38.49M	38.66M	38.45M	38.68M	38.76M	38.68M	38.93M	39.00M	39.18M	38.94M
Weighted Average Basic & Diluted Shares Outstanding	38.46M	38.38M	38.41M	38.68M	38.73M	38.82M	38.89M	38.98M	39.00M	38.92M	38.23M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-53	91	33	-6.10	18	10	139	-146	-65	-17	8.48
Net Cash From Operating Activities	72	74	67	117	25	38	256	14	-72	22	67
Net Cash From Continuing Operating Activities	72	74	67	117	25	38	256	14	-72	22	67
Net Income / (Loss) Continuing Operations	66	65	52	87	77	43	142	104	-34	-12	-1.91
Consolidated Net Income / (Loss)	66	65	52	87	77	43	142	104	-34	-12	-1.91
Depreciation Expense	3.31	4.39	5.36	6.30	8.02	11	12	13	14	17	12
Non-Cash Adjustments to Reconcile Net Income	9.03	7.09	21	13	31	34	27	34	44	46	51
Changes in Operating Assets and Liabilities, net	-6.85	-1.69	-11	10	-90	-49	75	-138	-96	-29	5.57
Net Cash From Investing Activities	-127	20	-27	-118	-3.42	-17	-108	-54	75	-9.90	-3.82
Net Cash From Continuing Investing Activities	-127	20	-27	-118	-3.42	-17	-108	-54	75	-9.90	-3.82
Purchase of Property, Leasehold Improvements and Equipment	-6.80	-9.47	-6.55	-8.07	-8.81	-6.95	-6.86	-12	-9.37	-7.87	-7.87
Purchase of Investment Securities	-146	-108	-66	-224	-174	-232	-387	-393	-307	-191	-327
Sale and/or Maturity of Investments	26	138	45	114	180	222	286	351	392	189	331
Net Cash From Financing Activities	1.84	-3.12	-5.78	-5.44	-3.88	-10	-5.92	-106	-68	-29	-55
Net Cash From Continuing Financing Activities	1.84	-3.12	-5.78	-5.44	-3.88	-10	-5.92	-106	-68	-29	-55
Issuance of Common Equity	0.98	0.67	0.65	0.62	0.66	0.64	0.65	0.71	0.66	0.85	0.82
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-29	-39	-0.79	-25
Payment of Dividends	-	-	-	-	-	0.00	0.00	-60	-20	-20	-21
Other Financing Activities, Net	1.75	-2.85	-5.45	-5.02	-3.45	-4.41	-6.57	-17	-8.80	-8.59	-9.48
Effect of Exchange Rate Changes	-	-	-	0.00	0.00	-0.05	-2.64	-0.37	0.12	-0.37	0.22
Cash Interest Paid	0.87	0.63	1.91	2.20	2.11	1.22	0.75	0.61	0.48	0.58	0.48
Cash Income Taxes Paid	43	37	35	24	40	7.33	49	70	0.67	0.47	0.42

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-57	53	-53	-80	71	11	-19	-3.74	-64	31	45
Net Cash From Operating Activities	6.43	7.66	15	-51	0.85	15	57	-53	21	52	46
Net Cash From Continuing Operating Activities	6.43	7.66	15	-51	0.85	15	57	-53	21	52	46
Net Income / (Loss) Continuing Operations	-8.73	-9.24	-10	-9.99	-5.54	-5.39	8.55	-4.42	-11	0.24	13
Consolidated Net Income / (Loss)	-8.73	-9.24	-10	-9.99	-5.54	-5.39	8.55	-4.42	-11	0.24	13
Depreciation Expense	3.47	3.64	3.32	3.42	3.33	4.55	5.29	2.85	3.15	2.74	3.35
Non-Cash Adjustments to Reconcile Net Income	14	1.35	14	6.14	14	12	15	4.37	19	12	16
Changes in Operating Assets and Liabilities, net	-2.17	12	7.72	-51	-11	4.55	28	-56	9.98	38	14
Net Cash From Investing Activities	-35	46	-54	-22	80	-3.47	-65	57	-67	-19	25
Net Cash From Continuing Investing Activities	-35	46	-54	-22	80	-3.47	-65	57	-67	-19	25
Purchase of Property, Leasehold Improvements and Equipment	-2.61	-2.22	-1.68	-2.64	-1.66	-2.05	-1.53	-1.49	-1.73	-2.25	-2.40
Purchase of Investment Securities	-76	-33	-131	-66	-2.46	-40	-83	-61	-137	-87	-42
Sale and/or Maturity of Investments	44	82	79	47	84	38	19	120	71	70	70
Net Cash From Financing Activities	-28	-0.95	-14	-7.50	-9.73	-1.12	-10	-8.07	-18	-1.57	-27
Net Cash From Continuing Financing Activities	-28	-0.95	-14	-7.50	-9.73	-1.12	-10	-8.07	-18	-1.57	-27
Issuance of Common Equity	-	-	0.27	-	-	-	0.42	-	-	-	0.38
Repurchase of Common Equity	-18	-	-4.51	-0.55	-	-	-0.23	-0.43	-6.97	-0.58	-17
Payment of Dividends	-9.89	-0.11	-9.66	-0.59	-9.75	-0.15	-9.74	-0.70	-9.88	-0.18	-9.80
Other Financing Activities, Net	-0.63	-0.83	-0.45	-6.35	-0.41	-0.97	-0.86	-6.95	-1.37	-0.81	-0.35
Effect of Exchange Rate Changes	0.10	-0.12	0.12	-0.08	-0.06	0.08	-0.31	0.00	0.26	-0.10	0.06
Cash Interest Paid	0.02	0.02	0.06	0.49	0.07	0.01	0.01	0.39	0.07	0.01	0.01
Cash Income Taxes Paid	0.51	0.01	-0.05	0.16	0.26	0.02	0.02	0.02	0.36	0.01	0.04

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	321	394	460	566	709	779	1,045	1,004	878	870	827
Cash and Due from Banks	96	187	221	215	233	243	382	236	171	153	162
Trading Account Securities	134	105	126	221	212	206	296	322	236	241	236
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	12	16	17	20	113	107	23	116	118	107	24
Intangible Assets	-	-	0.00	15	22	52	48	56	51	44	42
Other Assets	79	85	96	96	129	170	295	275	303	325	363
Total Liabilities & Shareholders' Equity	321	394	460	566	709	779	1,045	1,004	878	870	827
Total Liabilities	132	135	145	157	214	232	349	290	233	239	224
Accrued Interest Payable	-	-	-	4.49	18	23	18	17	18	19	19
Other Short-Term Payables	74	77	82	87	77	97	208	135	87	114	103
Other Long-Term Liabilities	48	48	54	57	112	112	123	138	128	106	103
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	189	259	315	410	495	547	696	714	645	631	603
Total Preferred & Common Equity	189	259	315	410	495	547	696	714	645	631	603
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	189	259	315	410	495	547	696	714	645	631	603
Common Stock	81	85	90	97	105	113	122	132	154	173	193
Retained Earnings	108	173	224	311	388	431	574	586	492	459	410
Accumulated Other Comprehensive Income / (Loss)	0.46	0.81	0.94	0.78	1.98	2.57	0.91	-3.62	-0.77	-1.43	0.40

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	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	967	1,000	910	884	882	827	825	834	802	792	812
Cash and Due from Banks	212	271	228	171	224	91	162	173	150	86	117
Trading Account Securities	331	301	203	236	187	256	174	176	180	247	264
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	110	27	136	28	125	121	117	111	25	104	100
Intangible Assets	58	57	55	54	52	50	49	47	43	43	42
Other Assets	257	344	289	395	294	310	324	327	404	313	289
Total Liabilities & Shareholders' Equity	967	1,000	910	884	882	827	825	834	802	792	812
Total Liabilities	250	276	228	220	233	201	199	216	184	184	210
Accrued Interest Payable	21	0.00	17	18	18	18	18	18	19	19	19
Other Short-Term Payables	107	147	86	71	85	75	75	95	67	68	94
Other Long-Term Liabilities	122	129	125	131	129	109	106	103	98	97	97
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	717	724	682	664	649	626	627	618	618	608	602
Total Preferred & Common Equity	717	724	682	664	649	626	627	618	618	608	602
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	717	724	682	664	649	626	627	618	618	608	602
Common Stock	124	128	133	140	145	155	162	167	175	182	187
Retained Earnings	596	600	552	526	507	472	466	451	444	426	415
Accumulated Other Comprehensive Income / (Loss)	-2.96	-3.93	-2.45	-2.60	-2.92	-1.28	-1.36	0.14	-1.08	0.33	0.17

This table displays calculated financial ratios and metrics derived from Marcus & Millichap's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,922,604.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,922,604.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.71	$1.66	$1.32	$2.23	$1.95	$1.08	$3.57	$2.61	($0.88)	($0.32)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	38.85M	38.90M	38.99M	39.15M	39.40M	39.64M	39.89M	39.89M	38.66M	38.68M	38.94M
Adjusted Diluted Earnings per Share	$1.69	$1.66	$1.32	$2.22	$1.95	$1.08	$3.55	$2.59	($0.88)	($0.32)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	39.16M	39.04M	39.10M	39.38M	39.55M	39.74M	40.19M	40.19M	38.66M	38.68M	38.94M
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	37.57M	38.07M	38.58M	38.98M	39.19M	39.40M	39.69M	39.24M	38.41M	38.89M	38.23M
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Marcus & Millichap's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,922,604.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	38,922,604.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.34
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.23)	($0.24)	($0.26)	($0.26)	($0.14)	($0.14)	$0.22	($0.11)	($0.28)	$0.01	$0.33
Adjusted Weighted Average Basic Shares Outstanding	38.54M	38.49M	38.66M	38.45M	38.68M	38.76M	38.68M	38.93M	39.00M	39.01M	38.94M
Adjusted Diluted Earnings per Share	($0.23)	($0.24)	($0.26)	($0.26)	($0.14)	($0.14)	$0.22	($0.11)	($0.28)	$0.01	$0.33
Adjusted Weighted Average Diluted Shares Outstanding	38.54M	38.49M	38.66M	38.45M	38.68M	38.76M	38.68M	38.93M	39.00M	39.18M	38.94M
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	38.46M	38.38M	38.41M	38.68M	38.73M	38.82M	38.89M	38.98M	39.00M	38.92M	38.23M
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Marcus & Millichap (NYSE: MMI) has shown notable earnings volatility across the last four quarters, driven largely by periodic large gains on investments. While 2025 has delivered a strong, one-time lift from capital gains, core operating costs remain elevated. The balance sheet remains solid with ample equity and modest liabilities, and operating cash flow has improved meaningfully after a weak start to 2025.

Big one-time investment gains in Q4 2025 boosted revenue and non-interest income. Net Realized & Unrealized Capital Gains on Investments totaled about $243.95 million, contributing to Total Non-Interest Income of $243.95 million and Total Revenue of about $243.76 million in Q4 2025.
Q4 2025 earnings per share (EPS) improved to $0.33 (diluted) & $0.33 (basic). Weighted average shares were around 38.2–38.9 million, supporting a positive EPS in that quarter.
Operating cash flow turned positive and remained strong in 2025. Net cash from continuing operating activities were roughly +$21.0m in Q2 2025, +$52.2m in Q3 2025, and +$46.3m in Q4 2025, signaling improved cash generation.
Balance sheet shows a solid equity base with roughly $0.60–0.62B in equity and around $0.80–0.83B in assets. Total assets hovered near $0.8B, while Total equity was about $0.60B in 2025, supporting a stable capital structure.
Q4 2025 net income attributable to common shareholders was about $13.31m. This shows the company remained profitable in that quarter despite higher operating costs, aided by investment gains.
Earnings swings tied to investment gains suggest earnings are volatile and not solely driven by core operations. Q1 2025 and Q2 2025 posted net losses, while Q3 2025 and especially Q4 2025 posted gains, highlighting earnings visibility risk tied to investment activity.
Debt burden appears modest based on the data. Long-Term Debt Interest Expense in Q4 2025 was only about $189k, indicating a relatively light debt service load in that period.
Share count metrics are relatively steady. Weighted averages around the high 38 millions (roughly 38.3–38.9m) suggest only modest changes in float across 2025 quarters.
Early-2025 losses weighed on quarterly results. Consolidated net income was negative in Q1 2025 and Q2 2025 (approx. -$4.42m and -$11.04m respectively), reflecting ongoing earnings pressure before the 2025 investment gains.
Investing cash outflows were sizable in several quarters. Purchase of investments and related investing outflows were large in multiple periods (e.g., Q2 2025, Q3 2025, Q4 2025), contributing to negative cash flow from investing activities in those quarters and pressuring overall liquidity in some windows.

05/05/26 07:03 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Marcus & Millichap's Financials

When does Marcus & Millichap's financial year end?

According to the most recent income statement we have on file, Marcus & Millichap's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Marcus & Millichap's net income changed over the last 10 years?

Marcus & Millichap's net income appears to be on a downward trend, with a most recent value of -$1.91 million in 2025, falling from $66.35 million in 2015. The previous period was -$12.36 million in 2024. Check out Marcus & Millichap's forecast to explore projected trends and price targets.

How has Marcus & Millichap's revenue changed over the last 10 years?

Over the last 10 years, Marcus & Millichap's total revenue changed from $687.33 million in 2015 to $754.38 million in 2025, a change of 9.8%.

How much debt does Marcus & Millichap have?

Marcus & Millichap's total liabilities were at $224.08 million at the end of 2025, a 6.2% decrease from 2024, and a 69.5% increase since 2015.

How much cash does Marcus & Millichap have?

In the past 10 years, Marcus & Millichap's cash and equivalents has ranged from $96.19 million in 2015 to $382.14 million in 2021, and is currently $161.92 million as of their latest financial filing in 2025.

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Financial statements for NYSE:MMI last updated on 3/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Marcus & Millichap (MMI) Financials

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Marcus & Millichap (MMI) Financials

Annual Income Statements for Marcus & Millichap

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Quarterly Balance Sheets for Marcus & Millichap

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Quarterly Metrics And Ratios for Marcus & Millichap

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