Marcus & Millichap, Inc. (MMI)
Marcus & Millichap, Inc. brought in $826.7M of revenue over the twelve months to September 30, 2026, up 10.0% from a year earlier. Net income was $15.1M, a net margin of 1.8%. Operating cash flow minus capital spending left $58.8M of free cash flow in fiscal 2025. At September 30, 2026 it held $189.2M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 6, 2026.
Key facts about Marcus & Millichap, Inc.
- Net worth
- Marcus & Millichap, Inc. has a market value (market cap) of $955.7M at the latest share price, and shareholders' equity of $574.1M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $755.2M (+8.5% year on year), with a net loss of $1.9M. Over the 12 months to September 30, 2026: revenue $826.7M, net income $15.1M.
- Cash flow
- In fiscal 2025 operations brought in $66.7M of cash; after $7.9M of capital spending, free cash flow was $58.8M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 6, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Marcus & Millichap, Inc.'s next report is expected around February 12, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Marcus & Millichap, Inc. does
Marcus & Millichap, Inc. is registered with the SEC under industry code SIC 6531 (Real Estate Agents & Managers (For Others)). Its shares trade on NYSE under the ticker MMI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $755.2M | -$1.9M | -$0.05 | $58.8M |
| 2024 | $696.1M | -$12.4M | -$0.32 | $13.8M |
| 2023 | $645.9M | -$34M | -$0.88 | -$81.8M |
| 2022 | $1.3B | $104.2M | $2.59 | $2M |
| 2021 | $1.3B | $142.5M | $3.55 | $249M |
| 2020 | $716.9M | $42.8M | $1.08 | $31.1M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MMI ranks in Finance
Dividends
It paid out $20.6M in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | $20.6M | n/a |
| 2024 | n/a | $20.2M | n/a |
| 2023 | n/a | $20.1M | n/a |
| 2022 | n/a | $60.4M | 58% |
| 2021 | n/a | $0 | 0% |
| 2020 | n/a | $0 | 0% |
Latest SEC filings
What Marcus & Millichap, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 7.5% to $208.4M versus the same quarter last year; diluted EPS $0.03 versus $0.01.
- November 6, 2026
- October 27, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Passive stake (5% or more) SCHEDULE 13G
- August 6, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 18% to $202.9M versus the same quarter last year; diluted EPS $0.10 versus -$0.28.
- August 6, 2026
- May 7, 2026Quarterly report 10-Q · period to March 31, 2026Revenue rose 18% to $171.5M versus the same quarter last year; diluted EPS -$0.08 versus -$0.11.
- May 7, 2026
- May 1, 2026
- April 29, 2026Passive stake (5% or more) SCHEDULE 13G
What is MMI worth? A DCF from its reported cash flow
Insider trades
What the people running Marcus & Millichap, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 4 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 14, 2026 | Nadji HessamChief Executive Officer, Director | Gave as a gift | 700 | - |
| September 10, 2026 | Nadji HessamChief Executive Officer, Director | Exercised options | 30,000 | - |
| September 10, 2026 | Nadji HessamChief Executive Officer, Director | Shares withheld for tax | 15,264 | - |
| August 14, 2026 | Nadji HessamChief Executive Officer, Director | Gave as a gift | 945 | - |
| August 10, 2026 | DeGennaro Steven F.EVP and CFO | Exercised options | 1,500 | - |
| August 10, 2026 | DeGennaro Steven F.EVP and CFO | Shares withheld for tax | 761 | $23.3K |
| August 10, 2026 | Parker John DavidEVP & COO | Exercised options | 2,808 | - |
| August 10, 2026 | Parker John DavidEVP & COO | Shares withheld for tax | 1,434 | $44K |
Who owns MMI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| BlackRock, Inc.13G, passive | 8.9% | October 27, 2026 |
| Vanguard Portfolio Management13G, passive | 6.76% | April 29, 2026 |
| Schroder Investment Management Group13G, passive with 3 related filers | 6% | August 12, 2026 |
| Reinhart Partners, LLC.13G, passive | 5.6% | May 15, 2025 |
| Pzena Investment Management LLC13G, passive | 5.3% | April 17, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 188 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 3,618,887 | -310,849 |
| Vanguard Portfolio Management LLC | 2,491,466 | -76,580 |
| Schroder Investment Management Group | 2,285,406 | +1,354,509 |
| Pzena Investment Management LLC | 2,141,001 | +128,238 |
| Dimensional Fund Advisors LP | 1,489,218 | +7,446 |
| Vanguard Capital Management LLC | 1,020,602 | -38,940 |
| State Street Corp | 949,388 | +11,164 |
| Tributary Capital Management, LLC | 740,631 | -21,835 |
| Geode Capital Management, LLC | 659,314 | +14,161 |
| Two Sigma Investments, LP | 551,097 | +126,760 |
| Aqr Capital Management LLC | 472,278 | +290,195 |
| Royce & Associates LP | 470,019 | -41,671 |
| Charles Schwab Investment Management Inc | 404,677 | -28,936 |
| Jacobs Levy Equity Management, Inc | 272,747 | +113,128 |
| Northern Trust Corp | 256,122 | +11,849 |
| Sprott Inc. | 210,000 | 0 |
| Renaissance Technologies LLC | 200,173 | -19,527 |
| Russell Investments Group, Ltd. | 188,990 | -37,030 |
| Deprince Race & Zollo Inc | 183,095 | -74,077 |
| Morgan Stanley | 182,843 | -2,020 |
Insiders
12 insiders reported holding 534,336 shares in total, about $13.5M at the last price.
| Holder | Shares |
|---|---|
| Nadji HessamChief Executive Officer, Director | 314,498480 held indirectly |
| Parker John DavidEVP & COO | 43,310 |
| DeGennaro Steven F.EVP and CFO | 42,709 |
| Marcus George MDirector, 10% owner | 36,239 |
| Shaheen George TDirector | 27,439 |
| Martin LauraleeDirector | 20,426 |
| Watters Don C.Director | 15,902 |
| English Dixon ColleteDirector | 12,422 |
| McClanahan Nicholas F.Director | 7,472 |
| LaBerge Gregory A.SVP & Chief Client Officer | 6,231 |
Questions about MMI
What does Marcus & Millichap, Inc. do?
Marcus & Millichap, Inc. is a company in the Finance sector, listed on NYSE as MMI. Its shares trade on NYSE under the ticker MMI.
What is Marcus & Millichap, Inc.'s net worth?
Marcus & Millichap, Inc. has a market value (market cap) of $955.7M at the latest share price, and shareholders' equity of $574.1M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Marcus & Millichap, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $15.1M on revenue of $826.7M, a net margin of 1.8%.
How much revenue does Marcus & Millichap, Inc. make?
Over the twelve months to September 30, 2026 Marcus & Millichap, Inc. reported revenue of $826.7M. That is 10.0% more than a year earlier.
When did Marcus & Millichap, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 6, 2026. It covers the period to September 30, 2026.
When is Marcus & Millichap, Inc.'s next earnings report?
Marcus & Millichap, Inc.'s next report is expected around February 12, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Marcus & Millichap, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.