RMR GROUP INC.

Listed Company

RMRCIK 0001644378NasdaqAcceleratedServices-Management Consulting ServicesMarylandFY ends Sep 30

Period

FY 2025

Revenue

$700.28M

Net Income

$17.60M

Total Assets

$718.25M

Equity

$227.66M

Shares Out

15.00M

Op. Cash Flow

$75.75M

Business

RMR GROUP INC. is a holding company that conducts substantially all of its business through its majority-owned subsidiary, RMR LLC, which manages and operates real estate businesses and investment vehicles. It provides management and advisory services, including business and property management, asset and investment management, construction supervision and property management through subsidiaries such as Tremont and RMR Residential. Key operating segments include the Managed Equity REITs, RMR Residential, Tremont (advisory), and Private Capital clients (including MPC-related residential management). Its services are delivered primarily through long-term management and property management agreements across the United States, with managed properties and client operations extending to Puerto Rico, Canada and certain international clients.

Summary from filing dated 2025-11-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total management, termination, incentive and advisory services revenues	183	194	236	200	607
Loan investment interest income	6	1	0	—	—
Compensation and benefits	−3	−87,000	0	—	—
Income from loan investments, net	2	1	0	0	—
Rental property revenues	8	2	0	0	—
Total reimbursable costs	507	701	726	633	—
Total revenues	700	898	962	833	607
Compensation and benefits	162	170	136	130	120
Equity based compensation	10	11	12	10	12
Separation costs	7	6	2	1	5
Total compensation and benefits expense	178	187	151	141	136
General and administrative	42	44	36	33	27
Other reimbursable expenses	422	609	656	569	370
Rental property expenses	3	462,000	0	0	—
Transaction and acquisition related costs	1	8	4	132,000	984,000
Depreciation and amortization	12	5	1	993,000	973,000
Total expenses	659	853	849	744	535
Operating income	42	45	114	88	72
Interest income	5	10	11	1	760,000
Interest expense	−4	−783,000	0	0	—
Change in fair value of Earnout liability	8	3	0	0	—
(Loss) gain on investments	−5	7	25	1	443,000
Gain on sale of real estate	445,000	0	0	—	—
Income before income tax expense	46	64	150	91	94
Income tax expense attributable to RMR Inc.	−8	−11	−22	−13	−13
Net income	39	53	128	77	81
Net income attributable to noncontrolling interest in The RMR Group LLC	−22	−30	−71	−43	—
Net loss attributable to other noncontrolling interests	827,000	40,000	0	0	—
Net income attributable to The RMR Group Inc.	18	23	57	34	36
Unrealized loss on derivatives	−117,000	0	0	—	—
Less: unrealized loss on derivatives attributable to noncontrolling interest	55,000	0	0	—	—
Other comprehensive loss attributable to The RMR Group Inc.	−62,000	0	0	—	—
Comprehensive income attributable to The RMR Group Inc.	18	23	57	—	—
Weighted average common shares outstanding - basic (in shares)	17	17	16	16	16
Weighted average common shares outstanding - diluted (in shares)	17	17	16	31	31
Net income attributable to The RMR Group Inc. per common share - basic (in dollars per share)	1.03	1.38	3.44	2.06	2.18
Net income attributable to The RMR Group Inc. per common share - diluted (in dollars per share)	1.03	1.38	3.44	2.04	2.15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Prepaid and other current assets	14	10	7	5	6
Loans held for investment, net of allowance for credit losses of $63	37	0	—	—	—
Assets held for sale	0	9	0	—	—
Total current assets	193	294	386	303	255
Loans held for investment, net of allowance for credit losses of $526 and $343, respectively	24	56	0	—	—
Property and equipment, net of accumulated depreciation of $7,980 and $3,447, respectively	229	76	5	2	2
Investments	32	24	19	—	39
Goodwill	72	72	2	—	—
Intangible assets, net of accumulated amortization of $9,074 and $3,719, respectively	26	20	—	—	—
Operating lease right of use assets	23	27	29	29	32
Deferred tax asset	13	15	18	17	19
Other assets, net of accumulated amortization of $97,156 and $87,740, respectively	97	106	115	125	134
Total assets	718	700	582	542	498
Reimbursable accounts payable and accrued expenses	44	90	78	80	55
Accounts payable and accrued expenses	39	32	23	17	15
Current portion of Earnout liability	4	517,000	0	—	—
Operating lease liabilities	6	6	5	5	5
Current portion of secured financing facility, net	26	0	—	—	—
Liabilities held for sale	0	5	0	—	—
Total current liabilities	118	133	106	109	81
Operating lease liabilities, net of current portion	18	22	25	26	29
Amounts due pursuant to tax receivable agreement, net of current portion	16	18	21	23	26
Employer compensation liability, net of current portion	10	9	7	15	14
Earnout liability, net of current portion	0	11	0	—	—
Secured financing facility, net of current portion	18	41	—	—	—
Mortgage notes payable, net	136	45	0	—	—
Total liabilities	316	281	159	173	150
Commitments and contingencies	—	—	—	—	—
Additional paid in capital	122	119	116	113	110
Retained earnings	454	436	413	356	322
Cumulative other comprehensive loss	−62,000	0	—	—	—
Cumulative common distributions	−348	−317	−289	−262	−237
Total shareholders equity	228	238	240	207	195
Noncontrolling interest in The RMR Group LLC	172	181	184	—	—
Noncontrolling interest in other consolidated entities	2	404,000	0	—	—
Total noncontrolling interests	174	182	184	163	153
Total equity	402	419	424	370	348
Total liabilities and equity	718	700	582	542	498

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	12	5	1	993,000	973,000
Amortization of interest rate caps	70,000	0	0	—	—
Straight line office rent	−291,000	−380,000	−345,000	−352,000	3,000
Amortization expense related to other assets	9	9	9	9	9
Provision for credit losses	190,000	602,000	0	0	—
Provision (benefit) for deferred income taxes	2	3	−1	2	5
Operating expenses paid in The RMR Group Inc. common shares	4	4	4	4	4
Distributions from investments	2	2	2	841,000	1
Due from related parties	55	−14	−7	−19	−4
Prepaid and other current assets	−2	−1	−2	649,000	−2
Reimbursable accounts payable and accrued expenses	−47	13	−2	25	—
Accounts payable and accrued expenses	6	−2	2	2	−2
Net cash provided by operating activities	76	61	109	101	72
Acquisition of MPC Partnership Holdings LLC, net of cash acquired	0	−79	0	0	—
Rental property acquisitions	−166	−71	0	—	—
Funding of loans held for investment	−8	−57	0	0	—
Repayment of loans held for investment	3	0	0	—	—
Purchase of property and equipment	−4	−4	−4	—	—
Purchase of interest rate caps	−2	0	0	—	—
Proceeds from deferred origination fees	0	700,000	0	0	—
Investment in residential fund	−768,000	−213,000	0	−9	0
Investment in joint ventures	—	—	53	—	—
Investment in joint ventures	−11	0	—	—	—
Proceeds from sale of property	4	0	0	—	—
Net cash (used in) provided by investing activities	−184	−210	49	−11	−1
Proceeds from secured financing facility	6	42	0	—	—
Repayments of secured financing facility	−2	0	0	—	—
Proceeds from mortgage notes payable	93	47	0	0	—
Payment of deferred financing fees	−3	−2	0	0	—
Distributions to noncontrolling interests	−31	−32	−50	−33	−138
Distributions to common shareholders	−30	−28	−27	−26	−140
Member distributions upon sale of 260 Woodstock	−409,000	0	0	—	—
Repurchase of common shares	−903,000	−1	−734,000	−547,000	−834,000
Payments under the tax receivable agreement	−2	−2	−2	−2	−2
Net cash provided by (used in) financing activities	29	22	−80	−61	−280
Decrease in cash and cash equivalents	−79	−126	79	29	−210
Income taxes paid	6	9	21	10	10
Interest paid	6	371,000	0	0	—
Recognition of right of use assets and related lease liabilities	2	4	5	1	2
Assumption of mortgage note payable	0	5	0	0	—
Property and equipment accrued, not paid	18,000	465,000	39,000	114,000	—

Filings

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