Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Douglas Elliman Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
784
774
1,353
1,153
956
996
1,033
Selling and marketing
76.9
64.1
77.2
85.8
83.7
82.6
80.7
General and administrative
96.5
76.1
92.8
131
125
118
111
Operating income
-3.48
-49.3
102
-4.54
-64.5
-68.8
45.5
Interest expense
0.15
0.03
2.94
5.07
Interest income
0.6
0.19
0.08
1.93
5.84
5.53
4.9
Pre-tax income
8.81
-46.3
101
0.1
-58.2
-75.9
17.9
Income tax
0.35
0.04
2.13
6.5
-15.1
1.12
3.56
Net income to minority interests
0
0
-0.19
-0.78
-0.61
-0.69
-0.91
Net income
8.46
-46.4
98.8
-5.62
-42.6
-76.3
15.2
EBITDA
5.16
-40.7
111
3.47
-56.5
-61.1
53.9
EPS, basic
0.10
-0.57
1.21
-0.08
-0.52
-0.91
0.17
EPS, diluted
0.10
-0.57
1.21
-0.08
-0.52
-0.91
0.17
Shares, basic (weighted)
81.6
81.6
81.6
81.6
82.2
83.5
84.6
Shares, diluted (weighted)
81.6
81.6
81.6
81.6
82.2
83.5
84.6
Dividend per share
0.20
0.05
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
71.5
94.4
212
164
120
136
116
Short-term investments
0
9.8
0
Receivables
24.4
32.5
22.2
21.8
19.6
19.9
Other current assets
11.8
12.2
13.7
15.5
19.1
15.5
Total current assets
148
281
225
181
196
161
Property, plant and equipment
42.7
39.4
41.7
39.7
37.7
30.2
Lease right-of-use assets
133
124
118
108
100
83.3
Goodwill
31.8
32.6
32.2
32.2
32.2
32.2
Intangible assets
68.3
74.4
73.7
73
72.3
71.7
Long-term investments
0.24
8.09
12.9
12.9
9.53
10.5
Other non-current assets
4.09
4.84
6.48
7.21
6.43
6.28
Total assets
489
454
595
550
493
494
444
Accounts payable
6.34
5.87
5.46
6.14
3.06
3.78
Accrued liabilities
12
25.4
18.2
12.9
8.3
13.7
Deferred revenue
7.63
6.69
8.22
11.2
18.2
16
Short-term debt
12.5
12.5
0
Total current liabilities
99.6
132
90
97.2
92.2
98.7
Long-term debt
12.9
0.18
0
0
32.7
0
Lease liabilities
143
129
121
111
102
82.4
Other non-current liabilities
2.28
0.19
0.31
0.13
0.68
0.13
Total liabilities
290
313
280
259
331
261
Total debt
25.4
12.7
0
0
32.7
0
Paid-in capital
279
273
280
285
292
Retained earnings
0.62
-5
-47.6
-124
-109
Shareholders' equity
164
280
269
233
162
184
Minority interests
0
1.94
1.54
0.92
0.24
-0.67
Total equity
204
164
282
270
234
162
183
Total liabilities and equity
454
595
550
493
494
444
Shares outstanding
0
81.2
80.9
87.9
88.9
88.2
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
8.46
-46.4
98.7
-6.4
-43.2
-77
14.3
Depreciation and amortization
8.64
8.54
8.56
8.01
8.03
7.74
8.38
Stock-based compensation
0
0
11.1
13.1
6.57
8.58
Deferred income tax
0.23
0.08
-0.07
4.19
-15.4
0.98
0
Change in receivables
-2.28
-4.82
-11.7
3.38
Change in payables
1.91
3.53
-2.16
-22.7
9.68
-6.9
1.53
Cash from operations
7.58
31.9
128
-14.7
-30.4
-26
-13.9
Capital expenditures
-8.08
-6.13
-4.11
-8.54
-6.14
-5.53
-3.35
Acquisitions
-0.38
-0.72
-0.5
0
0
Purchases of investments
0
0
-0.7
-0.03
0
0
Cash from investing
-1.51
-4.09
-8.86
-12.7
-5.24
-6.79
90.5
Debt issued
0
0
48.8
0
Debt repaid
-0.16
-0.06
-0.36
-12.5
0
0
Dividends paid
0
0
-16.3
-4.22
0
0
Cash from financing
-19.1
-0.14
3.2
-30
-6.21
45.5
-96.1
Net change in cash
-13.1
27.6
122
-57.5
-41.9
12.7
-19.5
Free cash flow
-0.5
25.7
124
-23.3
-36.6
-31.5
-17.2
Interest paid
0.01
0
0.02
0.18
0.03
1.45
3.16
Income taxes paid
0
0
0.68
11.1
-1.92
-5.15
0.16
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.57 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
3.5%
Operating income / revenue.
EBITDA margin
4.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
2.8%
Pre-tax income / revenue.
Net margin
2.5%
Net income / revenue.
FCF margin
-1.9%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-1.7%
Cash from operations / revenue.
Effective tax rate
12.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
14.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
5.6%
Net income / average total assets.
Return on invested capital (ROIC)
50.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
0.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
0.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
3.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-3.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
5.9%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA CAGR, 3y
149.4%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
13.4%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-11.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
2.4%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-10.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-6.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-0.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
1.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
0.7%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.52x
Current assets / current liabilities.
Quick ratio
1.21x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.00x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.29
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$11.74
Revenue / diluted weighted shares.
FCF per share
-$0.22
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.19
Cash from operations / diluted weighted shares.
Book value per share
$1.84
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
5.74x
Market cap / net income. Only when net income is positive.
P/S
0.14x
Market cap / revenue.
P/B
0.85x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.06x
Market cap / tangible book value, when positive.
EV/Sales
0.04x
Enterprise value / revenue.
EV/EBIT
1.06x
Enterprise value / operating income, when both are positive.
EV/EBITDA
0.86x
Enterprise value / EBITDA, when both are positive.
FCF yield
-13.1%
Free cash flow / market cap.
Earnings yield
17.4%
Net income / market cap (the inverse of P/E).
What was Douglas Elliman Inc.'s revenue in fiscal 2025?
Douglas Elliman Inc. reported revenue of $1.03B for fiscal 2025, 3.8% higher than the year before.
Was Douglas Elliman Inc. profitable in fiscal 2025?
Yes. Net income was $15.2M, a net margin of 1.5%.
How much free cash flow did Douglas Elliman Inc. generate in fiscal 2025?
Cash from operations of $13.9M minus capital expenditures of $3.4M left free cash flow of -$17.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.