MMI Fundamental Analysis - MARCUS & MILLICHAP INC

Fundamental Rating

MMI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 63 industry peers in the Real Estate Management & Development industry. MMI has a great financial health rating, but its profitability evaluates not so good. MMI is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

MMI had negative earnings in the past year.

In the past year MMI had a positive cash flow from operations.

In multiple years MMI reported negative net income over the last 5 years.

Of the past 5 years MMI 4 years had a positive operating cash flow.

1.2 Ratios

With a Return On Assets value of -1.55%, MMI perfoms like the industry average, outperforming 47.62% of the companies in the same industry.

MMI has a Return On Equity (-2.02%) which is in line with its industry peers.

		Industry Rank	Sector Rank
ROA	-1.55%
ROE	-2.02%
ROIC	N/A

ROA(3y)1.7%

ROA(5y)4.84%

ROE(3y)2.46%

ROE(5y)7.13%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

MMI has a better Gross Margin (37.80%) than 65.08% of its industry peers.

In the last couple of years the Gross Margin of MMI has remained more or less at the same level.

MMI does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	37.8%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y2.61%

GM growth 5Y-0.07%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MMI does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, MMI has more shares outstanding

MMI has less shares outstanding than it did 5 years ago.

There is no outstanding debt for MMI. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

2.2 Solvency

MMI has an Altman-Z score of 6.01. This indicates that MMI is financially healthy and has little risk of bankruptcy at the moment.

With an excellent Altman-Z score value of 6.01, MMI belongs to the best of the industry, outperforming 82.54% of the companies in the same industry.

MMI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0
Altman-Z	6.01

ROIC/WACCN/A

WACC8.87%

2.3 Liquidity

A Current Ratio of 3.47 indicates that MMI has no problem at all paying its short term obligations.

MMI's Current ratio of 3.47 is fine compared to the rest of the industry. MMI outperforms 77.78% of its industry peers.

MMI has a Quick Ratio of 3.47. This indicates that MMI is financially healthy and has no problem in meeting its short term obligations.

Looking at the Quick ratio, with a value of 3.47, MMI belongs to the top of the industry, outperforming 82.54% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	3.47
Quick Ratio	3.47

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

MMI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 65.93%, which is quite impressive.

The Revenue has grown by 17.90% in the past year. This is quite good.

MMI shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.90% yearly.

EPS 1Y (TTM)65.93%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-100%

Revenue 1Y (TTM)17.9%

Revenue growth 3Y-18.72%

Revenue growth 5Y-2.9%

Sales Q2Q%8.78%

3.2 Future

The Earnings Per Share is expected to grow by 80.19% on average over the next years. This is a very strong growth

The Revenue is expected to grow by 20.06% on average over the next years. This is a very strong growth

EPS Next Y51.55%

EPS Next 2Y95.32%

EPS Next 3Y80.19%

EPS Next 5YN/A

Revenue Next Year15.09%

Revenue Next 2Y16.4%

Revenue Next 3Y20.06%

Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

MMI reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

MMI is valuated quite expensively with a Price/Forward Earnings ratio of 56.12.

Based on the Price/Forward Earnings ratio, MMI is valued a bit cheaper than 71.43% of the companies in the same industry.

Compared to an average S&P500 Price/Forward Earnings ratio of 22.72, MMI is valued quite expensively.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	56.12

4.2 Price Multiples

68.25% of the companies in the same industry are more expensive than MMI, based on the Price/Free Cash Flow ratio.

		Industry Rank	Sector Rank
P/FCF	38.21
EV/EBITDA	N/A

4.3 Compensation for Growth

MMI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.

A more expensive valuation may be justified as MMI's earnings are expected to grow with 80.19% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y95.32%

EPS Next 3Y80.19%

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5. Dividend

5.1 Amount

MMI has a Yearly Dividend Yield of 1.53%.

Compared to an average industry Dividend Yield of 3.53, MMI pays a better dividend. On top of this MMI pays more dividend than 85.71% of the companies listed in the same industry.

MMI's Dividend Yield is slightly below the S&P500 average, which is at 2.34.

		Industry Rank	Sector Rank
Dividend Yield	1.53%

5.2 History

MMI has paid a dividend for less than 5 years, so there is no long track record yet.

Dividend Growth(5Y)N/A

Div Incr Years0

Div Non Decr Years0

5.3 Sustainability

MMI has negative earnings and hence a negative payout ratio. The dividend may be in danger.

DP-166.47%

EPS Next 2Y95.32%

EPS Next 3Y80.19%

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MARCUS & MILLICHAP INC

NYSE:MMI (8/29/2025, 8:04:00 PM)

After market: 32.59 0 (0%)

32.59

-0.06 (-0.18%)

Chartmill FA Rating

GICS SectorReal Estate

GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)

GICS IndustryReal Estate Management & Development

Earnings (Last)08-07 2025-08-07/bmo

Earnings (Next)11-06 2025-11-06/bmo

Inst Owners97.63%

Inst Owner Change0.42%

Ins Owners3.45%

Ins Owner Change0.72%

Market Cap1.27B

Analysts44.44

Price Target30.6 (-6.11%)

Short Float %1.37%

Short Ratio3.7

Dividend

		Industry Rank	Sector Rank
Dividend Yield	1.53%

Yearly Dividend0.52

Dividend Growth(5Y)N/A

DP-166.47%

Div Incr Years0

Div Non Decr Years0

Ex-Date09-15 2025-09-15 (0.25)

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-76.2%

Min EPS beat(2)-184.34%

Max EPS beat(2)31.93%

EPS beat(4)3

Avg EPS beat(4)265.94%

Min EPS beat(4)-184.34%

Max EPS beat(4)1189.11%

EPS beat(8)7

Avg EPS beat(8)136.57%

EPS beat(12)10

Avg EPS beat(12)92.15%

EPS beat(16)14

Avg EPS beat(16)83.66%

Revenue beat(2)2

Avg Revenue beat(2)1.23%

Min Revenue beat(2)0.04%

Max Revenue beat(2)2.43%

Revenue beat(4)4

Avg Revenue beat(4)6.28%

Min Revenue beat(4)0.04%

Max Revenue beat(4)18.97%

Revenue beat(8)5

Avg Revenue beat(8)2.05%

Revenue beat(12)6

Avg Revenue beat(12)1.39%

Revenue beat(16)9

Avg Revenue beat(16)7.21%

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)-48.78%

EPS NQ rev (3m)-143.57%

EPS NY rev (1m)-155.83%

EPS NY rev (3m)-155.83%

Revenue NQ rev (1m)-4.14%

Revenue NQ rev (3m)-19.35%

Revenue NY rev (1m)-1.96%

Revenue NY rev (3m)-1.96%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	56.12
P/S	1.75
P/FCF	38.21
P/OCF	31.73
P/B	2.09
P/tB	2.25
EV/EBITDA	N/A

EPS(TTM)-0.31

EYN/A

EPS(NY)0.58

Fwd EY1.78%

FCF(TTM)0.85

FCFY2.62%

OCF(TTM)1.03

OCFY3.15%

SpS18.61

BVpS15.58

TBVpS14.49

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-1.55%
ROE	-2.02%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	37.8%
FCFM	4.58%

ROA(3y)1.7%

ROA(5y)4.84%

ROE(3y)2.46%

ROE(5y)7.13%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y2.61%

GM growth 5Y-0.07%

F-Score7

Asset Turnover0.92

Health

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0
Debt/EBITDA	N/A
Cap/Depr	42.94%
Cap/Sales	0.94%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	3.47
Quick Ratio	3.47
Altman-Z	6.01

F-Score7

WACC8.87%

ROIC/WACCN/A

Cap/Depr(3y)67.84%

Cap/Depr(5y)65.16%

Cap/Sales(3y)1.16%

Cap/Sales(5y)1%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)65.93%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-100%

EPS Next Y51.55%

EPS Next 2Y95.32%

EPS Next 3Y80.19%

EPS Next 5YN/A

Revenue 1Y (TTM)17.9%

Revenue growth 3Y-18.72%

Revenue growth 5Y-2.9%

Sales Q2Q%8.78%

Revenue Next Year15.09%

Revenue Next 2Y16.4%

Revenue Next 3Y20.06%

Revenue Next 5YN/A

EBIT growth 1Y48.12%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year75.44%

EBIT Next 3Y53.19%

EBIT Next 5YN/A

FCF growth 1Y179.96%

FCF growth 3Y-61.84%

FCF growth 5Y-3.45%

OCF growth 1Y236.27%

OCF growth 3Y-56.06%

OCF growth 5Y-3.01%

MARCUS & MILLICHAP INC (MMI) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens