Stocks · Real Estate · Real Estate - Services
Marcus & Millichap, Inc. MMI
$28.62 +0.18% Close, Oct 5, 2026 · NYSE · Market cap $1.08B
High quality
Next earnings report: Oct 30, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- The shares trade at 78.2× trailing earnings, higher than 80% of the company's own readings over the past five years.
- Operating margin widened to 1.3% from -4.3% a year earlier.
- Revenue over the last four quarters was $812.2M, up 11.9% from a year earlier, accelerating from 9.8% a quarter earlier.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
Growth72Positive
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 32%
- FCF growth (TTM, YoY)Top 5%
- Revenue growth, 3-year CAGRBottom 4%
- Revenue growth accelerationTop 28%
Quality85Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 21%
- Gross marginBottom 40%
- Operating marginBottom 13%
- Cash conversion (OCF / net income)Top 13%
- Accruals (lower is better)Top 7%
- Net debt / EBITDA (lower is better)Top 2%
- Interest coverTop 1%
Value41Weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 41%
- Free-cash-flow yieldTop 29%
- EBITDA / enterprise valueBottom 21%
- Sales / enterprise valueTop 6%
- P/E vs own 5-year history (lower is better)Bottom 11%
Momentum77Positive
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 29%
- 6-month returnTop 18%
- 1-year return vs S&P 500Top 38%
- Distance from 52-week highTop 22%
- Trend checklist (0–4)Top 39%
Revisions23Very weak
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 13%
- Consecutive EPS beatsBottom 48%
- Share of analysts rating BuyBottom 10%
- Upside to consensus price targetBottom 2%
Stability53Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 40%
- Maximum drawdown, 3 yearsBottom 42%
- Beta vs S&P 500 (lower is better)Bottom 31%
- Net debt / EBITDA (lower is better)Top 2%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 9.8% | 11.9% | ↑ |
| Gross margin | 36.1% | 35.6% | ↓ |
| Operating margin | -4.3% | 1.3% | ↑ |
| FCF margin | 4.6% | 11.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 11.9% | 9.8% | ↑ | Top 32% |
| Gross margin | 35.6% | 36.1% | ↓ | Bottom 40% |
| Operating margin | 1.3% | -4.3% | ↑ | Bottom 13% |
| Net margin | 1.8% | -1.7% | ↑ | — |
| Free-cash-flow margin | 11.6% | 4.6% | ↑ | — |
| Return on invested capital | 0.8% | — | Bottom 21% | |
| Revenue growth, 3-year CAGR | -16.6% | — | Bottom 4% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -11.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -50.5 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -2.19×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 15.1×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 1.07%
- Net buyback yield (TTM)
- 1.63%
- Shareholder yield
- 2.69%
- Share count change, 1 year
- -2.4%
- Share count change, 3-year CAGR
- -0.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +97.9%
- Average 2-day reaction, last 8
- +1.0%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $26.00
- Target vs current price
- -9.2%
- Analysts with a rating
- 4
- Share rating Buy or Strong Buy
- 25%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | +233.3% | +1.4% | -0.3% | -0.4% | — |
| May 7, 2026 | +0.0% | +1.8% | +1.6% | +3.1% | +5.9% |
| Feb 13, 2026 | +58.1% | +3.4% | +3.0% | +1.6% | +20.9% |
| Nov 7, 2025 | +100.0% | -0.7% | -0.8% | -1.9% | -13.2% |
| Aug 7, 2025 | -1300.0% | -10.8% | -3.2% | +1.6% | -9.8% |
| May 7, 2025 | +31.3% | +2.5% | +2.2% | +0.1% | +4.4% |
| Feb 14, 2025 | +466.7% | +5.4% | +0.6% | -7.2% | -17.8% |
| Nov 8, 2024 | +26.3% | +5.0% | +2.5% | +2.4% | -5.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | $0.10 | $0.03 | +233.3% | $202.9M |
| May 7, 2026 | -$0.08 | -$0.08 | +0.0% | $171.5M |
| Feb 13, 2026 | $0.34 | $0.22 | +58.1% | $243.9M |
| Nov 7, 2025 | $0.01 | $0.01 | +100.0% | $193.9M |
| Aug 7, 2025 | -$0.28 | -$0.02 | -1300.0% | $172.3M |
| May 7, 2025 | -$0.11 | -$0.16 | +31.3% | $145.0M |
| Feb 14, 2025 | $0.22 | -$0.06 | +466.7% | $240.1M |
| Nov 8, 2024 | -$0.14 | -$0.19 | +26.3% | $168.5M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 78.2× | 16.5× | 80th | Bottom 41% |
| P/E (forward) | 56.1× | — | — | — |
| EV / EBITDA | 27.6× | — | — | Bottom 21% |
| EV / Sales | 1.23× | — | — | Top 6% |
| Free-cash-flow yield | 8.68% | — | — | Top 29% |
| Earnings yield | 1.28% | — | — | Bottom 41% |
P/E over the past five years
Range 8.8× – 104.5× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -1.1%
- 200-day average slope (20 days)
- +0.5%
- Distance from 50-day average
- -7.7%
- Distance from 200-day average
- -0.2%
- RSI (14)
- 35.0
- Relative volume
- 1.16×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 25.7%
- Volatility vs own 5-year history
- 8th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.72
- Correlation with S&P 500
- 0.39
- Current drawdown from 1-year high
- -12.6%
- Maximum drawdown, 3 years
- -43.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Apr 5, 2022 | Feb 12, 2026 | -56.0% | 967 days | Not yet recovered |
| Jan 22, 2021 | Mar 24, 2021 | -17.4% | 42 days | 63 days (Jun 23, 2021) |
| Dec 29, 2021 | Jan 27, 2022 | -14.5% | 20 days | 44 days (Mar 31, 2022) |
| Nov 5, 2021 | Nov 30, 2021 | -14.0% | 16 days | 17 days (Dec 23, 2021) |
| Jun 23, 2021 | Jul 19, 2021 | -13.0% | 17 days | 35 days (Sep 7, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.08B
- P/E (TTM)
- 78.2
- EPS, diluted (TTM)
- $0.37
- Revenue (TTM)
- $812.2M
- Dividend yield
- 1.75%
- 52-week range
- $24.43 – $33.55
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $1.30B | $1.30B | $645.9M | $696.1M | $755.2M |
| Gross profit | $456.2M | $450.8M | $239.3M | $264.6M | $260.5M |
| Operating income | $189.4M | $137.4M | -$59.4M | -$32.9M | -$12.3M |
| Net income | $142.5M | $104.2M | -$34.0M | -$12.4M | -$1.9M |
| EPS (diluted) | $3.55 | $2.59 | -$0.88 | -$0.32 | -$0.05 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $168.5M | $240.1M | $145.0M | $172.3M | $193.9M | $243.9M | $171.5M | $202.9M |
| Net income | -$5.4M | $8.5M | -$4.4M | -$11.0M | $240,000 | $13.3M | -$3.1M | $3.9M |
| EPS (diluted) | -$0.14 | $0.22 | -$0.11 | -$0.28 | $0.01 | $0.34 | -$0.08 | $0.10 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $255.9M | $13.6M | -$72.4M | $21.7M | $66.7M |
| Capital expenditure | -$6.9M | -$11.7M | -$9.4M | -$7.9M | -$7.9M |
| Free cash flow | $249.0M | $2.0M | -$81.8M | $13.8M | $58.8M |
| Dividends paid | $0 | -$60.4M | -$20.1M | -$20.2M | -$20.6M |
| Net share buybacks | $653,000 | -$29.1M | -$39.4M | -$785,000 | -$24.5M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $216.5M
- Total assets
- $765.8M
- Total liabilities
- $186.9M
- Total debt
- $74.2M
- Net debt
- -$79.4M
- Shareholders’ equity
- $578.9M
As of Jun 30, 2026 (filed Aug 6, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 15, 2026 | $0.25 | Oct 6, 2026 |
| Mar 13, 2026 | $0.25 | Apr 3, 2026 |
| Sep 15, 2025 | $0.25 | Oct 6, 2025 |
| Mar 12, 2025 | $0.25 | Apr 4, 2025 |
| Sep 16, 2024 | $0.25 | Oct 4, 2024 |
| Mar 11, 2024 | $0.25 | Apr 5, 2024 |
| Sep 14, 2023 | $0.25 | Oct 6, 2023 |
| Mar 13, 2023 | $0.25 | Apr 6, 2023 |
Short interest
- Shares sold short
- 1,071,575
- Days to cover
- 9.39
- Change vs previous report
- +1.2%
FINRA short interest, settlement date Sep 15, 2026.