NEWMARK GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NEWMARK GROUP, 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

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,350	1,596	2,048	2,218	1,905	2,906	2,706	2,470	2,739	3,294
General and administrative	185	219	332	362	294	554	535	537	598	659
Operating income	167	200	333	246	184	1,255	186	125	163	234
Other non-operating income			127	81	15.3	1,232	-97.7	13.9	6.68	43
Pre-tax income	171	203	282	214	146	1,221	155	103	131	202
Income tax	3.99	57.5	90.5	52.4	37	243	42.1	41.1	45.8	46.1
Net income to minority interests	-1.19	0.6	85.2	44.4	29.2	227	29.3	19.8	24.3	29.3
Net income	168	144	107	117	109	978	113	62.4	85.5	126
EBITDA	240	296	430	377	325	1,376	351	291	337	415
EPS, basic		1.08	0.65	0.59	0.39	3.91	0.46	0.25	0.36	0.71
EPS, diluted		0.85	0.64	0.58	0.39	3.80	0.45	0.24	0.34	0.68
Shares, basic (weighted)		133	157	178	179	190	180	173	172	178
Shares, diluted (weighted)		138	164	185	180	196	245	176	178	253
Dividend per share							0.12	0.12	0.12	0.12

Balance sheet

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	118	121	122	164	191	191	233	165	198	229
Short-term investments		57.6	48.9	36.8	33.3	525	0.79	0.1
Other current assets		21	57.7	91.2	63.8	83.3	101	95.9	88	114
Total current assets		825	1,757	1,074	1,819	2,524	1,076	1,506	1,773	2,005
Property, plant and equipment		64.8	78.8	98	96.4	136	156	178	167	156
Lease right-of-use assets				202	190	607	639	596	500	448
Goodwill	413	478	515	558	560	657	706	777	771	802
Intangible assets		24.9	35.8	45.2	44.3	76.2	81	83.6	64.5	76.3
Other non-current assets		278	370	408	323	212	214	149	148	151
Total assets		2,273	3,454	3,202	3,982	5,216	3,941	4,472	4,710	5,019
Accrued liabilities		205	367	344	280	463	370	401	448	440
Short-term debt						0	548	0
Total current liabilities		783	1,665	1,045	1,705	2,193	1,576	1,490	1,780	1,907
Long-term debt		671	538	589	680	545	0	547	671	672
Lease liabilities				228	219	586	627	598	490	437
Other non-current liabilities		164	169	377	437	207	196	242	231	252
Total liabilities		2,030	2,371	2,239	3,041	3,531	2,399	2,877	3,172	3,267
Total debt		671	538	589	680	545	548	547	671	672
Paid-in capital		59.4	285	318	351	487	585	658	753	999
Retained earnings		199	278	313	343	1,080	1,145	1,167	1,207	1,312
Treasury stock							-539	-569	-746	-855
Other comprehensive income				0	-2.09	-2.73	-12	-4.56	-11.3	2.81
Shareholders' equity		260	568	600	655	1,278	1,181	1,253	1,206	1,462
Minority interests		-38.1	489	341	266	386	344	326	319	278
Total equity	984	222	1,057	941	921	1,664	1,525	1,579	1,524	1,740
Total liabilities and equity		2,273	3,454	3,202	3,982	5,216	3,941	4,472	4,710	5,019

Cash flow statement

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	167	145	192	162	109	978	113	62.4	85.5	155
Depreciation and amortization	72.2	95.8	97.7	131	141	122	166	166	174	181
Stock-based compensation						301	-4.7	0	-0.7	0
Deferred income tax	-1.14	44.4	16.4	-27.9	0.42	119	-24.5	-5.2	1.05	16.8
Change in receivables	9.46	-57.2	-129	-52	124	-191	42.4	-69.3	17.7	-31.2
Cash from operations	-644	854	-332	987	-778	-48.7	1,196	-266	-9.94	172
Capital expenditures	-27.3	-19.1	-21	-34.5	-19.6	-19.7	-62.2	-55.4	-31.5	-29.4
Acquisitions		2.79	-34.5	-33.9	-5.85	-69.8	-64.2
Purchases of investments			0	0	-12.8	0	0	0	0	-334
Sales and maturities of investments		18.7	95.9	32.6	34.7	551	438	0	0
Cash from investing	-34.4	0.38	7.74	-56.8	-3.6	453	309	-49.7	-33.4	-198
Debt issued			536
Debt repaid		-304	-671
Stock issued		0	9.19	0	0
Share buybacks		0	-0.49	-37.4	-6.36	-291	-295	-37.4	-213	-127
Dividends paid		-102	0	0
Cash from financing	636	-798	339	-896	818	-396	-1,459	261	89.5	-44.8
Net change in cash	-42.6	55.8	14	34.5	36.5	8.1	46.5	-54.2	46.2	-71
Free cash flow	-671	835	-353	952	-797	-68.4	1,134	-321	-41.4	143
Interest paid	11.7	21	81.8	37	40.6	36.3	37.8	45.4	32.1	56.4
Income taxes paid	0.08	0.05	1.17	95.1	80.3	99.4	99.6	57.2	49.8	43.5

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 $13.06 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	7.7%	Operating income / revenue.
EBITDA margin	12.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.8%	Pre-tax income / revenue.
Net margin	4.1%	Net income / revenue.
FCF margin	22.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.5%	Cash from operations / revenue.
Effective tax rate	26.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.9%	Net income / average total assets.
Return on invested capital (ROIC)	10.0%	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	0.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.3%	Capital expenditures / revenue.
D&A / revenue	5.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	20.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	43.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	8.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	4.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	23.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	5.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	47.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	2.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	100.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	14.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	11.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-47.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-49.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	21.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.4%	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	17.4%	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	6.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.4%	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	4.7%	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	42.6%	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	1.1%	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	7.1%	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	1.09x	Current assets / current liabilities.
Quick ratio	0.14x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.60x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.7%	Total debt / total assets.
Liabilities / assets	66.3%	Total liabilities / total assets.
Net debt	$607.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.32x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$180.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	16.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$566.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.69x	Revenue / average total assets.
Fixed asset turnover	22.4x	Revenue / average property, plant and equipment.
FCF conversion	538.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	5.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.59	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	$14.31	Revenue / diluted weighted shares.
FCF per share	$3.17	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.36	Cash from operations / diluted weighted shares.
Book value per share	$5.70	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.25	Tangible book value / shares outstanding.
Cash per share	$1.03	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	19.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.37B	Share price x shares outstanding.
Enterprise value	$2.97B	Market cap + total debt - cash - short-term investments.
P/E	16.0x	Market cap / net income. Only when net income is positive.
P/S	0.66x	Market cap / revenue.
P/B	1.65x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.18x	Market cap / tangible book value, when positive.
P/FCF	2.97x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	2.80x	Market cap / cash from operations, when positive.
EV/Sales	0.83x	Enterprise value / revenue.
EV/EBIT	10.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.46x	Enterprise value / EBITDA, when both are positive.
EV/FCF	3.73x	Enterprise value / free cash flow, when both are positive.
FCF yield	33.7%	Free cash flow / market cap.
Earnings yield	6.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	6.5%	(Dividends paid + share buybacks) / market cap.
PEG	1.08x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NEWMARK GROUP, INC.'s revenue in fiscal 2025?

NEWMARK GROUP, INC. reported revenue of $3.29B for fiscal 2025, 20.3% higher than the year before.

Was NEWMARK GROUP, INC. profitable in fiscal 2025?

Yes. Net income was $126.2M, a net margin of 3.8%.

How much free cash flow did NEWMARK GROUP, INC. generate in fiscal 2025?

Cash from operations of $172.0M minus capital expenditures of $29.4M left free cash flow of $142.6M.

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.

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