Marcus & Millichap, Inc.

Listed Company

MMICIK 0001578732NYSELarge AcceleratedReal Estate Agents & Managers (For Others)FY ends Dec 31

Period

FY 2025

Revenue

$755.16M

Net Income

$-1.91M

Total Assets

$827.18M

Equity

$603.10M

Shares Out

37.82M

Op. Cash Flow

$66.66M

MMI$31.87−1.06% · past yearDBEQ Basic

Daily closing prices

Business

Marcus & Millichap, Inc. is a national commercial real estate services firm providing investment sales brokerage, financing services, and advisory offerings. The company generates revenue through real estate brokerage commissions, financing fees, and consulting services for commercial property transactions. Operating through offices across the United States and Canada, Marcus & Millichap focuses on the private client market complemented by larger transaction and middle markets, maintaining a proprietary technology platform and market research division.

Summary from 10-K filed 2026-02-26

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 revenue	755	696	646	1,302	1,296
Cost of services	470	431	407	851	840
Selling, general and administrative	286	281	285	300	255
Depreciation and amortization	12	17	14	13	12
Total operating expenses	769	729	705	1,164	1,107
Operating loss	−14	−33	−59	137	189
Other income, net	18	21	20	5	5
Interest expense	−773,000	−812,000	−888,000	−708,000	—
Income (loss) before provision (benefit) for income taxes	3	−13	−40	142	193
Provision (benefit) for income taxes	5	−666,000	−6	38	51
Net loss	−2	−12	−34	104	142
Basic (in dollars per share)	−0.05	−0.32	−0.88	2.61	3.57
Diluted (in dollars per share)	−0.05	−0.32	−0.88	2.59	3.55
Basic (in shares)	39	39	39	40	40
Diluted (in shares)	39	39	39	40	40

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, cash equivalents, and restricted cash (restricted cash of $11,253 and $10,678 at December 31, 2025 and December 31, 2024, respectively)	162	153	171	236	382
Commissions receivable	15	19	16	8	17
Prepaid expenses	10	9	9	9	13
Income tax receivable	2	6	9	9	0
Marketable debt securities, available-for-sale (amortized cost of $90,557 and $189,667 at December 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)	91	190	169	253	184
Advances and loans, net	15	18	4	4	6
Other assets, current	14	16	16	7	5
Total current assets	309	410	394	527	608
Property and equipment, net	24	26	27	28	23
Operating lease right-of-use assets, net	74	81	90	88	82
Marketable debt securities, available-for-sale (amortized cost of $145,570 and $52,366 at December 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)	146	51	67	69	113
Assets held in rabbi trust	13	12	11	10	12
Deferred tax assets, net	45	48	47	41	34
Goodwill and other intangible assets, net	42	44	51	56	48
Advances and loans, net	147	174	176	170	113
Other assets, non-current	27	24	15	16	13
Total assets	827	870	878	1,004	1,045
Accounts payable and accrued expenses	11	14	8	11	—
Deferred compensation and commissions	57	67	56	75	115
Operating lease liabilities	19	19	18	17	19
Accrued bonuses and other employee related expenses	24	25	19	38	50
Other liabilities, current	10	8	4	10	9
Total current liabilities	121	133	105	152	226
Deferred compensation and commissions	35	33	48	64	54
Operating lease liabilities	59	66	69	65	58
Other liabilities, non-current	8	7	11	9	11
Total liabilities	224	239	233	290	349
Commitments and contingencies	0	0	0	0	0
Preferred stock	0	0	0	0	0
Common stock	4,000	4,000	4,000	4,000	4,000
Additional paid-in capital	193	173	154	132	122
Retained earnings	410	459	492	586	574
Accumulated other comprehensive income (loss)	401,000	−1	−768,000	−4	910,000
Total stockholders equity	603	631	645	714	696
Total liabilities and stockholders equity	827	870	878	1,004	1,045

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
Net loss	−2	−12	−34	104	142
Non-cash lease expense	21	25	26	23	24
Credit loss expense (recovery)	−31,000	578,000	−128,000	−51,000	166,000
Stock-based compensation	24	24	24	17	10
Deferred taxes, net	3	−1	−6	−6	−12
Unrealized foreign exchange (gains) losses	−108,000	191,000	−37,000	534,000	4
Net realized (gains) losses on marketable debt securities, available-for-sale	−8,000	0	190,000	−86,000	−219,000
Other non-cash items	2	−2	−341,000	−973,000	641,000
Commissions receivable	4	−3	−8	8	−11
Prepaid expenses	−1	−498,000	599,000	4	−3
Advances and loans	29	−13	−5	−55	−12
Other assets	−2	−9	−7	−10	−3
Accounts payable and accrued expenses	−4	6	−3	−4	10
Income tax receivable and payable	4	3	−616,000	−27	14
Accrued bonuses and other employee related expenses	−2	6	−19	−11	29
Deferred compensation and commissions	−7	−2	−36	−25	75
Operating lease liabilities	−20	−19	−18	−21	−21
Other liabilities	3	2	573,000	3	−2
Net cash provided by (used in) operating activities	67	22	−72	14	256
Purchases of marketable debt securities, available-for-sale	−327	−191	−302	−381	−378
Proceeds from sales and maturities of marketable debt securities, available-for-sale	331	189	392	351	286
Purchases of convertible notes	0	0	−5	0	0
Issuances of employee notes receivable	−105,000	−82,000	−126,000	−74,000	−40,000
Payments received on employee notes receivable	0	6,000	34,000	71,000	290,000
Purchase of property and equipment	−8	−8	−9	−12	−7
Net cash (used in) provided by investing activities	−4	−10	75	−54	−108
Taxes paid related to net share settlement of stock-based awards	−6	−6	−4	−10	−3
Proceeds from issuance of shares pursuant to employee stock purchase plan	821,000	847,000	661,000	709,000	653,000
Dividends paid	−21	−20	−20	−60	0
Principal payments on stock appreciation rights liability	−2	−2	−2	−2	−1
Principal payments on deferred and contingent consideration	−1	−743,000	−2	−5	−2
Cash paid for stock repurchases	−25	−785,000	−39	−29	0
Net cash used in financing activities	−55	−29	−68	−106	−6
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash	219,000	−365,000	122,000	−366,000	−3
Net increase (decrease) in cash, cash equivalents, and restricted cash	8	−17	−65	−146	139
Interest paid during the period	478,000	581,000	478,000	614,000	749,000
Income taxes paid, net	422,000	468,000	674,000	—	—
Cash paid for amounts included in the measurement of operating lease liabilities	24	23	22	22	24
Unpaid purchases of property and equipment	1	561,000	257,000	684,000	406,000
Right-of-use assets obtained in exchange for operating lease liabilities	14	16	28	27	20
Issuance of stock for the settlement of deferred consideration	417,000	833,000	2	1	1
Dividend payable	836,000	884,000	923,000	2	0

Filings

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Frequently asked questions

What is Marcus & Millichap, Inc.'s CIK number?

Marcus & Millichap, Inc.'s SEC CIK number is 0001578732 (1578732). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Marcus & Millichap, Inc.'s SEC filings?

All of Marcus & Millichap, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Marcus & Millichap, Inc. last report earnings?

Marcus & Millichap, Inc. (MMI) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-031593). This is Marcus & Millichap, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Marcus & Millichap, Inc.'s most recent earnings 8-K?

Marcus & Millichap, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001628280-26-031593. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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