MMI · Marcus & Millichap, Inc.
$28.62
+0.05 (+0.18%)
At close · Oct 5
Return incl. dividend (before tax)
Market Cap
$1.13B
Shares
37.87M
Volume · Oct 5
205.93K
Avg daily vol (3M)
141.18K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$28.62
Open$28.47
Day$28.11–28.81
52W close$25.01–32.75
Avg vol 30d156K
Short int1.1M · 2.8% float · 9.4d
Short vol53%
Last earningsAug 6, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 6, 2026
Est · unconfirmed
· in 4 wks
filed Aug 6, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$812.22M
Trailing 12 months
Net income (TTM)
$14.36M
Trailing 12 months
Revenue growth YoY
+17.8%
Year over year
Operating margin
1.2%
Trailing 12 months
P / E (TTM)
79.4
Trailing earnings · reciprocal yield 1.3%
FCF yield
7.5%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
$153.52M
Latest balance sheet
Dividend yield
1.8%
Trailing 12 months
Shares change YoY
-2.5%
Year over year · fewer shares
Price change (1Y)
-0.9%
Trailing year
Short interest
2.8%
Latest settlement · 9.4 days to cover
AI Brief
Q2 FY26 earnings call · Aug 6, 2026
Q2 FY26
TL;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.
Bullish
- + 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%
Bearish
- − 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
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Sell
Momentum
Neutral
Sentiment
Neutral
Fundamentals
Excellent
Quant / Vol
Moderate
Market backdrop
VIX 15.5 · calm
Equity put/call 0.59
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−0%
below
Price vs 50-day avg
−8%
below
RSI (14)
35
neutral
MACD trend
Negative
52-week position
47%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−10%
trailing
6-month return
+6%
trailing
YTD return
+5%
this year
Relative strength
−6%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $31 › 200d $29 — 50d above 200d
Institutional flow
Distributing
3 of 189 funds reported for Sep 30 · net -161 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
2.83% of float · ▲ +1.2% MoM · 9.4 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
189 holders — near 3-yr high, broad support
Squeeze score
60
elevated · 0–100
Fundamentals
Revenue growth
+0%
Y/Y
EPS growth
+84%
Y/Y
Free cash flow
$58.8M
Valuation
P/E 82.6
in line
Buyback
$90.1M
remaining
Quant / Vol
risk profile
Volatility
29%
annualized · 1-yr
Max drawdown
−20%
past year
ATR
2.9%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Mar 31, 2026
Cost of services
· the second quarter
62% – 63.5%
Prior guidance
period ended
· from the Earnings Call filed Mar 31, 2026
Cost of services as a percentage of revenue
· the second quarter
62% – 63.5%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−0%
Neutral
Price vs 50-day avg
−8%
Bearish
RSI (14)
35
Neutral
MACD trend
Negative
Bearish
52-week position
47%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $31 › 200d $29 — 50d above 200d
Institutional flow
Distributing
3 of 189 funds reported for Sep 30 · net -161 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
2.83% of float · ▲ +1.2% MoM · 9.4 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
189 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $25
Now $29 · 47%
Range high $33
vs 200-day avg 0%
vs 50-day avg -8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $15.1M | six months ended June 30, 2026 | — |
| Average commission per transaction | $109,151 | Three Months Ended June 30, 2026 | — |
| Average commission rate | 1.76% | Three Months Ended June 30, 2026 | — |
| Average fee per transaction (Financing) | $55,293 | Three Months Ended June 30, 2026 | — |
| Average fee rate (Financing) | 0.74% | Three Months Ended June 30, 2026 | — |
| Average number of financing professionals | 103 | Three Months Ended June 30, 2026 | — |
| Average number of investment sales professionals | 1,590 | Three Months Ended June 30, 2026 | — |
| Average number of transactions per financing professional | 4.66 | Three Months Ended June 30, 2026 | — |
| Average number of transactions per investment sales professional | 0.96 | Three Months Ended June 30, 2026 | — |
| Average transaction size (Financing) | $7.45M | Three Months Ended June 30, 2026 | — |
| Average transaction size (Real Estate Brokerage) | $6.2M | Three Months Ended June 30, 2026 | — |
| Financing professionals | 102 | As of June 30, 2026 | — |
| investment sales and financing professionals | 1,677 | As of June 30, 2026 | — |
| Investment sales professionals | 1,575 | As of June 30, 2026 | — |
| investment sales, financing and other transactions | 2,306 | the three months ended June 30, 2026 filing | — |
| Total brokerage sales volume | $9.49B | Three Months Ended June 30, 2026 | — |
| Total financing sales volume | $3.58B | Three Months Ended June 30, 2026 | — |
| Total number of transactions (Financing) | 480 | Three Months Ended June 30, 2026 | — |
| Total number of transactions (Real Estate Brokerage) | 1,530 | Three Months Ended June 30, 2026 | — |
| Total sales volume | 26.2B | Six Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
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.
|
$1.13B | +4.9% | +0.3% | 82.6 | 2.8% |
|
CBRE
Cbre Group, Inc.
|
$37.89B | -19.5% | +13.4% | 30.1 | 1.5% |
|
SURDF
Sumitomo Realty & Development Co., Ltd./ADR
|
$19.05B | -24.5% | — | — | 0.1% |
|
BEKE
KE Holdings Inc.
|
$18.26B | +4.7% | +5.6% | — | 1.9% |
|
JLL
Jones Lang Lasalle Inc
|
$14.81B | -10.1% | +11.4% | 15.4 | 2.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MMI | -1.1% | -10.3% | +5.9% | +0.6% | +4.9% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -2.3% | -10.9% | -5.7% | -1.0% | -8.8% |
Capital returns
Latest dividend
$0.25
/ share · ex Sep 15, 2026
Paid (TTM)
$0.50
/ share · 2 payouts
Dividend yield (TTM, derived)
— · history filling in
Buyback programs
· 3 active
· as of Aug 3, 2026
Authorized (total)
$210.00M
Spent (derived)
$119.90M
Remaining
$90.10M
Spent
Remaining
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.