MMI · Marcus & Millichap, Inc.
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Marcus & Millichap reported Q2 2026 total revenue of $202.9 million, up 17.8% year-over-year, with net income of $3.9 million ($0.10 per diluted share) versus a net loss in Q2 2025, as the company stated the CRE transaction market is poised to overcome near-term challenges through 2026 while continuing share repurchases and exploring new business lines like leasing and investment management.
- + Q2 2026 total revenue grew 17.8% to $202.9 million versus $172.3 million a year ago
- + Q2 2026 net income of $3.9 million ($0.10/diluted share) versus a net loss of $11.0 million ($0.28) in Q2 2025
- + Adjusted EBITDA rose to $12.1 million in Q2 2026 from $1.5 million a year ago, a $10.6 million increase
- + Board approved an additional $70 million for share repurchases, with $90.1 million still available and 912,957 shares repurchased YTD at an average of $26.22
- + Private Client Market brokerage revenue rose 13.6% to $106.2 million in Q2 2026, with year-to-date transactions per agent up 9-10%
- − Cost of services as a percentage of total revenue rose 50 basis points to 62.4% in Q2 2026
- − Company expects CRE transaction market near-term challenges to extend through 2026, with wider-than-normal bid/ask spreads
- − Adjusted EBITDA of $12.1 million in Q2 2026 remains materially below the $150-200 million peak levels seen in 2021-2022
- − Q2 2026 net income included a $2.4 million tax provision despite only $6.3 million of pre-tax income
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Real Estate Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MMI
this stock
Marcus & Millichap, Inc.
|
$1.21B | +16.9% | +0.3% | 88.6 | 2.7% |
|
CBRE
Cbre Group, Inc.
|
$42.81B | -8.0% | +13.4% | 34.0 | 1.5% |
|
BEKE
KE Holdings Inc.
|
$18.87B | +13.7% | +5.6% | — | 2.2% |
|
SURDF
Sumitomo Realty & Development Co., Ltd./ADR
|
$18.77B | -16.7% | — | — | 0.2% |
|
JLL
Jones Lang Lasalle Inc
|
$16.67B | +7.7% | +11.4% | 17.4 | 1.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MMI | -1.9% | +1.3% | +23.1% | +0.7% | +16.9% |
| SPY | +0.1% | -0.4% | +15.1% | +0.4% | +12.9% |
| vs SPY | -2.0% | +1.7% | +8.0% | +0.3% | +3.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.