Cash flow Marcus & Millichap, Inc.

Equities

MMI

US5663241090

Real Estate Services

Market Closed - Nyse Other stock markets 04:00:02 2025-12-12 pm EST			5-day change	1st Jan Change
27.87 ^USD	-0.50%		-3.66%	-27.16%

Nov. 10	Marcus & Millichap, Inc. Seeks Acquisitions	CI
Dec. 09	Marcus & Millichap, Inc., Q3 2025 Earnings Call, Nov 07, 2025

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Published financial data: MARCUS & MILLICHAP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	633M	1.17B	1.17B	560M	590M
Other Revenues, Total	83.74M	125M	131M	86.18M	106M
Total Revenues	717M	1.3B	1.3B	646M	696M
Cost of Goods Sold, Total	448M	840M	851M	407M	431M
Gross Profit	269M	456M	451M	239M	265M
Selling General & Admin Expenses, Total	203M	250M	300M	285M	281M
Depreciation & Amortization - (IS)	10.9M	11.72M	13.41M	13.63M	16.59M
Other Operating Expenses, Total	214M	262M	314M	299M	297M
Operating Income	55.02M	194M	137M	-59.38M	-32.87M
Interest Expense, Total	-900K	-580K	-708K	-888K	-812K
Interest And Investment Income	4.86M	2.28M	7.86M	18.08M	18.98M
Net Interest Expenses	3.96M	1.7M	7.16M	17.19M	18.17M
Other Non Operating Income (Expenses)	1.6M	2.03M	-2.62M	1.96M	1.71M
EBT, Excl. Unusual Items	60.57M	198M	142M	-40.23M	-12.98M
Merger & Related Restructuring Charges	-1.3M	-	-	-	-
Gain (Loss) On Sale Of Investments	192K	219K	86K	-190K	-
Other Unusual Items	-101K	-4.66M	161K	16K	-43K
EBT, Incl. Unusual Items	59.36M	193M	142M	-40.4M	-13.03M
Income Tax Expense	16.53M	50.83M	37.8M	-6.37M	-666K
Earnings From Continuing Operations	42.84M	142M	104M	-34.04M	-12.36M
Net Income to Company	42.84M	142M	104M	-34.04M	-12.36M
Net Income - (IS)	42.84M	142M	104M	-34.04M	-12.36M
Net Income to Common Incl Extra Items	42.84M	142M	104M	-34.04M	-12.36M
Net Income to Common Excl. Extra Items	42.84M	142M	104M	-34.04M	-12.36M
Per Share Items
Net EPS - Basic	1.08	3.57	2.61	-0.88	-0.32
Basic EPS - Continuing Operations	1.08	3.57	2.61	-0.88	-0.32
Basic Weighted Average Shares Outstanding	39.64M	39.89M	39.89M	38.66M	38.68M
Net EPS - Diluted	1.08	3.55	2.59	-0.88	-0.32
Diluted EPS - Continuing Operations	1.08	3.55	2.59	-0.88	-0.32
Diluted Weighted Average Shares Outstanding	39.74M	40.19M	40.19M	38.66M	38.68M
Normalized Basic EPS	0.96	3.1	2.22	-0.65	-0.21
Normalized Diluted EPS	0.95	3.08	2.21	-0.65	-0.21
Dividend Per Share	-	-	0.5	0.5	0.5
Payout Ratio	-	-	19.41	-59.07	-163.61
Supplemental Items
EBITDA	65.91M	206M	151M	-45.76M	-19.68M
EBITA	55.56M	195M	143M	-54.68M	-29.07M
EBIT	55.02M	194M	137M	-59.38M	-32.87M
EBITDAR	96.61M	237M	181M	-11.18M	14.58M
Total Revenues (As Reported)	717M	1.3B	1.3B	646M	696M
Effective Tax Rate - (Ratio)	27.84	26.3	26.62	15.76	5.11
Current Domestic Taxes	16.05M	62.69M	43.82M	57K	733K
Total Current Taxes	16.05M	62.69M	43.82M	57K	733K
Deferred Domestic Taxes	473K	-11.84M	-6.07M	-6.43M	-1.42M
Deferred Foreign Taxes	-	-12K	52K	6K	16K
Total Deferred Taxes	473K	-11.86M	-6.02M	-6.42M	-1.4M
Normalized Net Income	37.86M	124M	88.61M	-25.14M	-8.12M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	586K	830K	1.65M	1.89M	-
Selling and Marketing Expenses	586K	830K	1.65M	1.89M	-
Net Rental Expense, Total	30.7M	31.09M	30.73M	34.58M	34.26M
Imputed Operating Lease Interest Expense	2.66M	1.85M	2.18M	2.89M	2.59M
Imputed Operating Lease Depreciation	28.04M	29.24M	28.54M	31.68M	31.67M
Stock-Based Comp., SG&A Exp. (Total)	9.9M	10.36M	17.31M	24.15M	23.79M
Total Stock-Based Compensation	9.9M	10.36M	17.31M	24.15M	23.79M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	243M	382M	236M	171M	153M
Short Term Investments	158M	184M	253M	178M	196M
Total Cash And Short Term Investments	401M	566M	489M	349M	349M
Accounts Receivable, Total	10.39M	17.23M	8.45M	16.17M	18.8M
Other Receivables	-	-	9.45M	11.02M	9.34M
Notes Receivable	185K	40K	6K	37K	28K
Total Receivables	10.58M	17.27M	17.91M	27.23M	28.17M
Prepaid Expenses	10.15M	13.22M	9.41M	8.81M	9.31M
Other Current Assets, Total	6.94M	11.63M	10.52M	8.52M	23.38M
Total Current Assets	429M	608M	527M	394M	410M
Gross Property Plant And Equipment	181M	140M	157M	166M	158M
Accumulated Depreciation	-73.84M	-35.14M	-41.43M	-48.5M	-51.01M
Net Property Plant And Equipment	107M	105M	116M	118M	107M
Long-term Investments	47.77M	122M	78.1M	72.54M	60.65M
Goodwill	33.38M	34.07M	37.91M	38.05M	37.6M
Other Intangibles, Total	20.58M	15.89M	17.78M	13.14M	5.92M
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	246K	-	-	26K	88K
Deferred Tax Assets Long-Term	21.37M	33.74M	41.32M	46.93M	48.08M
Other Long-Term Assets, Total	119M	127M	186M	197M	200M
Total Assets	779M	1.05B	1B	878M	870M
Liabilities
Accounts Payable, Total	16.69M	15.98M	11.37M	8.12M	13.74M
Accrued Expenses, Total	79.2M	165M	114M	74.9M	92.68M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	19.19M	18.97M	16.98M	18.34M	18.52M
Current Income Taxes Payable	3.73M	17.85M	-	-	-
Other Current Liabilities	1.51M	8.2M	9.93M	3.92M	8.08M
Total Current Liabilities	120M	226M	152M	105M	133M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	59.41M	58.33M	65.11M	69.41M	65.7M
Other Non Current Liabilities	52.56M	64.93M	73.08M	58.46M	40.26M
Total Liabilities	232M	349M	290M	233M	239M
Common Stock, Total	4K	4K	4K	4K	4K
Additional Paid In Capital	113M	122M	132M	154M	173M
Retained Earnings	431M	574M	586M	492M	459M
Comprehensive Income and Other	2.57M	910K	-3.62M	-768K	-1.43M
Total Common Equity	547M	696M	714M	645M	631M
Total Equity	547M	696M	714M	645M	631M
Total Liabilities And Equity	779M	1.05B	1B	878M	870M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	39.39M	39.68M	39.23M	38.4M	38.87M
ECS Total Common Shares Outstanding	39.39M	39.68M	39.24M	38.4M	38.84M
Book Value / Share	13.88	17.55	18.18	16.8	16.24
Tangible Book Value	493M	646M	658M	594M	587M
Tangible Book Value Per Share	12.51	16.29	16.76	15.47	15.12
Total Debt	78.6M	77.31M	82.09M	87.74M	84.22M
Net Debt	-371M	-601M	-476M	-329M	-316M
Debt Equivalent Oper. Leases	246M	249M	246M	277M	274M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	23.42M	24.51M	26.45M	26.1M	24.94M
Full Time Employees	764	801	887	896	897
Accumulated Allowance for Doubtful Accounts (Supple)	-	5K	1K	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	42.84M	142M	104M	-34.04M	-12.36M
Depreciation & Amortization - CF	33.18M	34.92M	30.54M	8.93M	9.39M
Amortization of Goodwill and Intangible Assets - (CF)	546K	525K	5.98M	4.7M	3.8M
Depreciation & Amortization, Total	33.72M	35.45M	36.52M	13.63M	13.19M
(Gain) Loss on Sale of Investments - (CF)	-192K	-219K	-86K	190K	-
Asset Writedown & Restructuring Costs	-	-	-	-	3.4M
Stock-Based Compensation (CF)	9.9M	10.36M	17.31M	24.15M	23.79M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	62K	-89K	-3K	-128K	578K
Other Operating Activities, Total	1.2M	-7.12M	-6.56M	19.54M	22.1M
Change In Accounts Receivable	-3.29M	-10.83M	8.44M	-7.59M	-3.45M
Change In Accounts Payable	1.25M	10.18M	-4.07M	-2.96M	5.68M
Change In Income Taxes	8.72M	14.13M	-26.54M	-616K	3.27M
Change in Other Net Operating Assets	-56.13M	61.58M	-116M	-84.6M	-34.49M
Cash from Operations	38.09M	256M	13.63M	-72.43M	21.71M
Capital Expenditure	-6.94M	-6.86M	-11.67M	-9.37M	-7.87M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-16.3M	229K	-12.5M	-	-
Investment in Marketable and Equity Securities, Total	6.07M	-102M	-29.81M	84.33M	-1.95M
Other Investing Activities, Total	-56K	250K	-3K	-92K	-76K
Cash from Investing	-17.23M	-108M	-53.98M	74.87M	-9.9M
Long-Term Debt Repaid, Total	-6.56M	-	-	-	-
Total Debt Repaid	-6.56M	-	-	-	-
Issuance of Common Stock	642K	653K	709K	661K	847K
Repurchase of Common Stock	-2.02M	-3.35M	-38.79M	-43.88M	-6.66M
Common Dividends Paid	-	-	-20.23M	-20.1M	-20.23M
Common & Preferred Stock Dividends Paid	-	-	-20.23M	-20.1M	-20.23M
Special Dividend Paid	-	-	-40.13M	-	-
Other Financing Activities, Total	-2.38M	-3.22M	-7.11M	-4.36M	-2.72M
Cash from Financing	-10.33M	-5.92M	-106M	-67.68M	-28.76M
Foreign Exchange Rate Adjustments	-48K	-2.64M	-366K	122K	-365K
Net Change in Cash	10.48M	139M	-146M	-65.12M	-17.31M
Supplemental Items
Cash Interest Paid	1.22M	749K	614K	478K	581K
Cash Income Tax Paid (Refund)	7.33M	48.56M	69.85M	674K	468K
Levered Free Cash Flow	93.23M	251M	60.16M	-64.09M	19.32M
Unlevered Free Cash Flow	93.79M	251M	60.6M	-63.54M	19.83M
Change In Net Working Capital	-22.72M	-91.08M	67.34M	54.82M	-11.26M
Net Debt Issued / Repaid	-6.56M	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	4.62	13.29	8.37	-3.94	-2.35
Return on Total Capital	5.69	17.33	10.93	-4.86	-2.84
Return On Equity %	8.22	22.92	14.79	-5.01	-1.94
Return on Common Equity	8.22	22.92	14.79	-5.01	-1.94
Margin Analysis
Gross Profit Margin %	37.53	35.19	34.63	37.04	38.01
SG&A Margin	28.33	19.32	23.06	44.13	40.35
EBITDA Margin %	9.19	15.87	11.57	-7.08	-2.83
EBITA Margin %	7.75	15.01	11	-8.47	-4.18
EBIT Margin %	7.67	14.97	10.54	-9.19	-4.72
Income From Continuing Operations Margin %	5.98	10.99	8.01	-5.27	-1.78
Net Income Margin %	5.98	10.99	8.01	-5.27	-1.78
Net Avail. For Common Margin %	5.98	10.99	8.01	-5.27	-1.78
Normalized Net Income Margin	5.28	9.53	6.81	-3.89	-1.17
Levered Free Cash Flow Margin	13	19.35	4.62	-9.92	2.78
Unlevered Free Cash Flow Margin	13.08	19.38	4.66	-9.84	2.85
Asset Turnover
Asset Turnover	0.96	1.42	1.27	0.69	0.8
Fixed Assets Turnover	6.5	12.22	11.82	5.54	6.19
Receivables Turnover (Average Receivables)	82.26	84.79	91.13	45.46	33.72
Short Term Liquidity
Current Ratio	3.57	2.7	3.47	3.74	3.08
Quick Ratio	3.42	2.58	3.34	3.57	2.84
Operating Cash Flow to Current Liabilities	0.32	1.13	0.09	-0.69	0.16
Days Sales Outstanding (Average Receivables)	4.45	4.3	4	8.03	10.85
Average Days Payable Outstanding	10.66	5.65	5.74	8.75	9.27
Long Term Solvency
Total Debt/Equity	14.37	11.1	11.51	13.6	13.35
Total Debt / Total Capital	12.57	9.99	10.32	11.97	11.78
LT Debt/Equity	10.86	8.38	9.13	10.76	10.42
Long-Term Debt / Total Capital	9.5	7.54	8.18	9.47	9.19
Total Liabilities / Total Assets	29.81	33.38	28.91	26.54	27.48
EBIT / Interest Expense	61.13	334.51	193.84	-66.87	-40.48
EBITDA / Interest Expense	107.35	408.32	256.18	-12.59	17.96
(EBITDA - Capex) / Interest Expense	99.63	396.49	239.7	-23.14	8.26
Total Debt / EBITDA	0.81	0.33	0.45	-7.85	5.78
Net Debt / EBITDA	-3.84	-2.54	-2.62	29.41	-21.69
Total Debt / (EBITDA - Capex)	0.88	0.34	0.48	-4.27	12.55
Net Debt / (EBITDA - Capex)	-4.13	-2.61	-2.8	16	-47.14
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.1	80.84	0.41	-50.38	7.76
Gross Profit, 1 Yr. Growth %	-12.53	69.59	-1.19	-46.92	10.58
EBITDA, 1 Yr. Growth %	-37.01	218.41	-26.78	-130.37	-57
EBITA, 1 Yr. Growth %	-42.82	258.53	-27.79	-138.53	-46.85
EBIT, 1 Yr. Growth %	-43.06	261.19	-29.26	-143.27	-44.66
Earnings From Cont. Operations, 1 Yr. Growth %	-44.32	232.58	-26.84	-132.66	-63.68
Net Income, 1 Yr. Growth %	-44.32	232.58	-26.84	-132.66	-63.68
Normalized Net Income, 1 Yr. Growth %	-43.72	233.61	-28.3	-128.37	-67.72
Diluted EPS Before Extra, 1 Yr. Growth %	-44.62	228.7	-26.88	-133.96	-63.7
Accounts Receivable, 1 Yr. Growth %	107.7	65.82	-50.94	91.3	16.28
Net Property, Plant and Equip., 1 Yr. Growth %	-5.05	-2.55	10.38	1.66	-8.72
Total Assets, 1 Yr. Growth %	9.88	34.15	-3.97	-12.48	-0.98
Tangible Book Value, 1 Yr. Growth %	4.74	31.13	1.77	-9.69	-1.14
Common Equity, 1 Yr. Growth %	10.49	27.33	2.47	-9.56	-2.24
Cash From Operations, 1 Yr. Growth %	50.62	571.87	-94.67	-631.44	-129.98
Capital Expenditures, 1 Yr. Growth %	-21.19	-1.27	70.13	-19.68	-15.98
Levered Free Cash Flow, 1 Yr. Growth %	38.33	171.51	-76.02	-272.99	-130.15
Unlevered Free Cash Flow, 1 Yr. Growth %	37.39	170.26	-75.88	-269.47	-131.21
Dividend Per Share, 1 Yr. Growth %	-	-	-	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-6.2	26.79	34.75	-29.41	-26.88
Gross Profit, 2 Yr. CAGR %	-7.13	21.8	29.45	-27.58	-23.39
EBITDA, 2 Yr. CAGR %	-25.45	40.35	52.81	-52.3	-63.88
EBITA, 2 Yr. CAGR %	-29.66	42.04	63.44	-46.79	-54.77
EBIT, 2 Yr. CAGR %	-30	41.85	59.99	-44	-51.09
Earnings From Cont. Operations, 2 Yr. CAGR %	-29.93	36.09	55.98	-51.12	-65.56
Net Income, 2 Yr. CAGR %	-29.93	36.09	55.98	-51.12	-65.56
Normalized Net Income, 2 Yr. CAGR %	-28.11	35.67	54.79	-54.36	-69.75
Diluted EPS Before Extra, 2 Yr. CAGR %	-30.25	34.93	55.08	-50.17	-64.89
Accounts Receivable, 2 Yr. CAGR %	8.79	85.58	-9.81	-3.12	49.15
Net Property, Plant and Equip., 2 Yr. CAGR %	134.45	-3.81	3.71	5.93	-3.67
Total Assets, 2 Yr. CAGR %	17.29	21.41	13.5	-8.33	-6.91
Tangible Book Value, 2 Yr. CAGR %	12.14	17.2	15.53	-4.13	-5.51
Common Equity, 2 Yr. CAGR %	15.55	18.61	14.23	-3.73	-5.97
Cash From Operations, 2 Yr. CAGR %	-43.02	218.12	-40.18	-46.8	26.22
Capital Expenditures, 2 Yr. CAGR %	-7.24	-11.79	29.61	16.9	-17.85
Levered Free Cash Flow, 2 Yr. CAGR %	-1.41	93.13	-19.29	-46.54	-27.88
Unlevered Free Cash Flow, 2 Yr. CAGR %	-1.56	92.04	-19.24	-46.82	-27.37
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.13	16.74	17.3	-3.42	-18.72
Gross Profit, 3 Yr. CAGR %	-0.5	13.51	13.6	-3.83	-16.61
EBITDA, 3 Yr. CAGR %	-13.4	20.16	12.99	-10.82	-53.92
EBITA, 3 Yr. CAGR %	-16.7	20.1	14.1	0.66	-46.81
EBIT, 3 Yr. CAGR %	-16.98	20	12.49	3.47	-44.22
Earnings From Cont. Operations, 3 Yr. CAGR %	-5.97	17.75	10.65	-7.38	-55.73
Net Income, 3 Yr. CAGR %	-5.97	17.75	10.65	-7.38	-55.73
Normalized Net Income, 3 Yr. CAGR %	-15.17	19.05	9.69	-12.07	-59.33
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.47	16.94	9.96	-6.53	-55.16
Accounts Receivable, 3 Yr. CAGR %	-7.8	25.2	19.1	15.88	2.96
Net Property, Plant and Equip., 3 Yr. CAGR %	84.35	74.97	0.71	3.02	0.8
Total Assets, 3 Yr. CAGR %	19.23	22.66	12.28	4.08	-5.94
Tangible Book Value, 3 Yr. CAGR %	16.11	18.14	11.81	6.42	-3.14
Common Equity, 3 Yr. CAGR %	20.2	19.35	12.97	5.67	-3.24
Cash From Operations, 3 Yr. CAGR %	-16.97	29.69	-18.62	23.89	-56.06
Capital Expenditures, 3 Yr. CAGR %	1.95	-5.29	9.8	10.5	4.71
Levered Free Cash Flow, 3 Yr. CAGR %	12.64	37.79	-3.66	-11.47	-55.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.33	37.44	-3.83	-11.9	-55.48
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.8	12.56	12.58	-4.54	-2.9
Gross Profit, 5 Yr. CAGR %	0.25	10.84	10.54	-5.16	-2.96
EBITDA, 5 Yr. CAGR %	-10.99	13.16	8.22	-17.34	-28.38
EBITA, 5 Yr. CAGR %	-13.49	12.81	8.3	-13.4	-21.32
EBIT, 5 Yr. CAGR %	-13.66	12.74	7.38	-11.96	-19.37
Earnings From Cont. Operations, 5 Yr. CAGR %	-8.38	17.12	15.13	-17.16	-30.63
Net Income, 5 Yr. CAGR %	-8.38	17.12	15.13	-17.16	-30.63
Normalized Net Income, 5 Yr. CAGR %	-11.76	13.02	7.4	-19.26	-34.47
Diluted EPS Before Extra, 5 Yr. CAGR %	-8.57	16.42	14.45	-16.89	-30.35
Accounts Receivable, 5 Yr. CAGR %	12.03	19.6	-8.61	12.99	30.32
Net Property, Plant and Equip., 5 Yr. CAGR %	56.14	44.97	46.46	43.15	-1.07
Total Assets, 5 Yr. CAGR %	19.39	21.54	16.91	9.17	4.17
Tangible Book Value, 5 Yr. CAGR %	21.13	20.08	15.87	8.67	4.53
Common Equity, 5 Yr. CAGR %	23.68	21.88	17.77	9.52	4.97
Cash From Operations, 5 Yr. CAGR %	-11.99	28	-27.18	-9.19	-3
Capital Expenditures, 5 Yr. CAGR %	0.43	-6.26	12.22	3.03	-2.23
Levered Free Cash Flow, 5 Yr. CAGR %	3.74	28.52	-1.61	-7.75	-22.08
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.57	28.22	-1.74	-8.08	-21.88