NEWMARK GROUP, INC.

Listed Company

NMRKCIK 0001690680NasdaqLarge AcceleratedReal Estate Agents & Managers (For Others)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.29B

Net Income

$126.19M

Total Assets

—

Equity

—

Shares Out

—

Op. Cash Flow

$172.00M

+ 13F Filer

Business

Newmark Group, Inc. is a commercial real estate advisor and service provider to institutional investors, global corporations, owners and occupiers. It offers integrated services including capital markets (investment sales and mortgage brokerage), landlord and tenant leasing, valuation and advisory, property and facilities management, GSE/FHA lending and loan servicing, due diligence and consulting, commercial real estate technology, flexible workspace solutions and U.K. business rates services. Key business segments include investor/owner services (capital markets, V&A, property management, lending/servicing and U.K. rates) and corporate/occupier services (tenant representation, Global Corporate Services and flexible workspace). Newmark operates primarily across the United States with a growing international presence in the U.K., Europe and other markets, servicing clients through owned offices, business partner affiliations and digital platforms.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	3,294	2,739	2,470	2,706	2,906
Compensation and employee benefits	1,947	1,598	1,489	1,555	1,829
Equity-based compensation and allocations of net income to limited partnership units and FPUs	282	185	140	138	356
Total compensation and employee benefits	2,230	1,784	1,629	1,693	2,185
Operating, administrative and other	659	598	537	535	554
Fees to related parties	33	26	27	29	24
Depreciation and amortization	181	174	166	166	122
Total operating expenses	3,103	2,582	2,359	2,422	2,884
Other income (loss), net	43	7	14	−98	1,232
Income (loss) from operations	234	163	125	186	1,255
Interest expense, net	−32	−32	−22	−31	—
Income (loss) before income taxes and noncontrolling interests	202	131	103	155	1,221
Provision (benefit) for income taxes	46	46	41	42	243
Consolidated net income (loss)	155	85	62	113	978
Less: Net income (loss) attributable to noncontrolling interests	29	24	20	29	227
Net income (loss) available to common stockholders	126	61	43	83	751
Net income (loss) available to common stockholders	126	61	43	83	745
Basic earnings per share (in dollars per share)	0.71	0.36	0.25	0.46	3.91
Basic weighted-average shares of common stock outstanding (in shares)	178	172	173	180	190
Net income (loss) for fully diluted shares	173	61	43	110	745
Fully diluted earnings per share (in dollars per share)	0.68	0.34	0.24	0.45	3.8
Fully diluted weighted-average shares of common stock outstanding (in shares)	253	178	176	245	196

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	229	198	165	233	191
Restricted cash and short-term investments	120	107	—	—	—
Loans held for sale, at fair value	913	775	529	138	1,072
Other current assets (see Note 17)	114	88	96	101	83
Total current assets	2,005	1,773	1,506	1,076	2,524
Goodwill	802	771	777	706	657
Mortgage servicing rights, net	518	518	531	569	—
Loans, forgivable loans and other receivables from employees and partners, net	862	769	651	501	—
Right-of-use assets	448	501	596	639	607
Fixed assets, net	156	167	178	156	136
Other intangible assets, net	76	64	84	81	76
Other assets (see Note 17)	151	148	149	214	212
Total assets	5,000	4,700	4,472	3,941	5,216
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises	892	754	499	137	1,051
Accrued compensation	440	448	401	370	463
Accounts payable, accrued expenses and other liabilities (see Note 26)	572	578	584	512	529
Payables to related parties	2	0	7	—	—
Total current liabilities	1,907	1,780	1,490	1,576	2,193
Long-term debt	672	671	547	0	545
Right-of-use liabilities	437	490	598	627	586
Other long-term liabilities (see Note 26)	252	231	242	196	207
Total liabilities	3,267	3,172	2,877	2,399	3,531
Commitments and contingencies (see Note 28)	—	—	—	—	—
Redeemable partnership interests	12	14	16	17	21
Additional paid-in capital	999	753	658	585	487
Retained earnings	1,312	1,207	1,167	1,145	1,080
Treasury stock at cost: 86,125,782 and 74,983,414 shares of Class A common stock at December 31, 2025 and December 31, 2024, respectively	−855	−746	−569	−539	—
Accumulated other comprehensive loss	3	−11	−5	−12	−3
Total stockholders equity	1,462	1,206	1,253	1,181	1,278
Noncontrolling interests	278	319	326	344	386
Total equity	1,740	1,524	1,579	1,525	1,664
Total liabilities, redeemable partnership interests, and equity	5,019	4,710	4,472	3,941	5,216

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gains on originated mortgage servicing rights	−119	−104	−76	−130	−148
Lease impairment	0	0	8	14	0
Provision (benefit) for credit losses on the financial guarantee liability	4	−2	3	2	−4
Provision (reversal) for doubtful accounts	9	230,000	−2	7	6
Equity-based compensation and allocation of net income to limited partnership units and FPUs	282	185	140	138	356
Employee loan amortization and other non-cash compensation expense	155	124	93	84	79
Deferred tax provision (benefit)	17	1	−5	−24	119
Non-cash changes in acquisition related earn-outs	975,000	−4	5	−1	415,000
Unrealized (gains) on loans held for sale	−12	−10	−27	−712,000	−21
Income from an equity method investment	0	0	−14	−3	0
Loan originationsloans held for sale	−10,728	−8,626	−6,913	−7,823	−9,142
Loan salesloans held for sale	10,601	8,390	6,549	8,758	9,178
Other	6	−1	6	2	4
Consolidated net income (loss), adjusted for non-cash and non-operating items	554	214	−5	1,402	301
Receivables, net	−31	18	−69	42	−191
Loans, forgivable loans and other receivables from employees and partners, net	−220	−212	−243	−132	−78
Right-of-use assets	53	96	54	−42	42
Receivable from related parties	326,000	−326,000	0	8	−8
Other assets	−8	3	−9	9	9
Accrued compensation	−90	−15	−22	−102	−83
Right-of-use liability	−60	−107	−40	52	−35
Accounts payable, accrued expenses and other liabilities	−28	629,000	72	−35	−4
Payables to related parties	2	−7	−3	−5	366,000
Net cash provided by (used in) operating activities	172	−10	−266	1,196	−49
Payments for acquisitions, net of cash acquired and proceeds from divestitures	−53	0	−100	−64	−70
Proceeds from the exercise of redemption option	0	0	106	0	0
Purchase of non-marketable investments	0	−300,000	0	−3	−9
Payments for intangible assets	0	−2	0	0	—
Purchases of fixed assets	−29	−32	−55	−62	−20
Purchase of restricted short-term investments	−334	−110,000	0	—	—
Proceeds from maturity of restricted short-term investments	219	0	0	—	—
Net cash provided by (used in) investing activities	−198	−33	−50	309	453
Proceeds from warehouse facilities	10,728	8,626	6,913	7,823	9,142
Principal payments on warehouse facilities	−10,590	−8,370	−6,552	−8,736	−9,153
Borrowing of debt	520	845	930	0	55
Repayment of debt	−520	−720	−930	0	−195
Purchase of limited partnership interests	0	−12	0	0	—
Treasury stock repurchases	−127	−213	−37	−295	−291
Earnings and tax distributions to limited partnership interests and other noncontrolling interests	−32	−39	−35	−81	−15
Dividends to stockholders	−22	−21	−21	−18	−8
Payments on acquisition earn-outs	−943,000	0	−983,000	−6	−43
Deferred financing costs	−2	−7	−5	−5	−1
Net cash provided by (used in) financing activities	−45	90	261	−1,459	−396
Net increase (decrease) in cash and cash equivalents and restricted cash	−71	46	−54	46	8
Interest	56	32	45	38	36
Taxes	43	50	57	100	99
Right-of-use assets and liabilities	80	46	80	139	498
Deferred tax asset	19	0	0	—	—
Tax Receivable Agreement liability	18	0	0	—	—

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 1 positions

Reported AUM

Holdings

Top sector

Top sectors

Sector	Value	% of portfolio
Uncategorized	$0	0.0%

Top holdings

Issuer	Ticker	Shares	Value	%
0	—	0	$0	0.0%