MMI

Marcus & Millichap, Inc.

Fundamental data last updated:November 1, 2026

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company profile

SECTOR

Real Estate

industry

Real Estate - Services

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Marcus & Millichap, Inc., an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, and preferred equity, as well as loan sales and consultative/due diligence services to commercial real estate owners, developers, investors, and capital providers. In addition, the company provides various ancillary services, including research, advisory, and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California.

 


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VALUATION

P/E

-1849.53

Market Cap ($M USD)

$1.07B

Forward P/E

17.33

PEG

0.00

PRICE TO SALES

1.38

PRICE TO BOOK

1.91

EV / EBITDA

37.75

5-Year Average P/E

Free Cash Flow Yield

7.68%

DCF Value

$6.55

Graham Number

N/A

Price to FCF

13.02

EV to FCF

12.41

Earnings Yield

-0.05%

FCF Yield

7.68%

DIVIDEND

Yield

1.76%

Annual Payout

$0.50

Payout Ratio

-3382.11%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$0.02

Next Year EPS Growth Estimate

$1.64

Next Year Revenue Growth Estimate

$1.10B

Return on Equity (ROE)

-0.10%

FREE CASH FLOW

Operating Margin

-0.02%

Debt-to-Equity

0.13

Piotroski F-Score

5

Altman Z-Score

5.51

Return on Invested Capital (ROIC)

-0.03%

Current Ratio

2.65

Quick Ratio

2.65

Net Debt to EBITDA

-1.84

Interest Coverage

-0.26

Gross Profit margin

34.87%

FCF PER SHARE

$2.16

REVENUE PER SHARE

$20.46

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Gainseekers Quantitative Analysis

Summary

The market seems to be mispricing MMI Marcus & Millichap, Inc. significantly. With a DCF value far below the recent pricing, the stock appears extended. The Forward P/E of 18.55 suggests some optimism, but the negative Earnings Yield and ROIC indicate poor profitability. However, the Altman Z-score of 5.75 signals financial stability, suggesting the company is not at immediate risk of distress. Overall, the valuation is perplexing, with a mix of safety and inefficiency.

AI Exposure / Tech Reliance

In the real estate services sector, MMI's adaptability to AI and tech shifts is crucial. The industry is ripe for digital transformation, and companies that leverage AI for data analytics and customer engagement will thrive. MMI's ability to integrate these technologies could determine its competitive edge.

The Bull Case

For value or GARP investors, MMI offers intriguing prospects. The Piotroski F-Score of 5 indicates moderate financial health, while a solid FCF Yield of 7.18% reflects decent cash generation. Despite a negative ROIC, the company's gross profit margin of 34.87% suggests some pricing power. These factors hint at potential capital efficiency improvements and a possible turnaround story.

The Bear Case

The bear case for MMI is compelling. The Price/Book ratio of 2.04 and Price/Sales of 1.47 suggest the stock is not cheap. The negative EPS and operating margin highlight profitability issues, while the stock's proximity to its 52-week high raises concerns about technical overextension. These weaknesses overshadow its low debt levels and PEG ratio, making it a risky bet.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$26.00

Institutional Ownership %

1-Year Beta

1.26

Insider Buying % (6 Mo)

Distance to 52-Week High

18.30%

Distance to 52-Week Low

14.04%

EARNINGS SURPRISE %

0.00%

50-DAY SMA

$27.60

200-DAY SMA

$28.40

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.