Marcus & Millichap, Inc. (MMI) Stock

Marcus & Millichap, Inc. (MMI) is a Real Estate stock trading at $32.67 (as of 2026-08-20), with a market capitalization of $1.24B and a trailing P/E of 86.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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Understand Marcus & Millichap, Inc.: how it makes money

Marcus & Millichap provides commercial real estate investment brokerage and related financing services, and it makes money from real estate brokerage commissions and financing fees tied to completed transactions.

The profit model is primarily transaction-driven, because brokerage commission and financing fee revenue rise or fall with the level of commercial real estate transactions completed.

Revenue by segment (latest quarter)
Brokerage$0.1B
Financing$0.0B
Other$0.0B

Business quality (Weak): Good visibility into transaction-linked operating metrics (transaction volume, commission rate, transactions count), and revenue is partially broken out into brokerage commissions, financing fees, and other revenue. However, the segment detail is limited, and gross margin is not provided for this quarter.

Bull case

  • Transaction-linked revenue base: Real estate brokerage commission revenue is directly reported, alongside a measured Real Estate Brokerage Transaction Volume.
  • Both brokerage and financing contribute revenue: Financing fees revenue is separately reported, so results are not only dependent on brokerage commissions.

Bear case

  • Profitability pressure in the latest quarter: Operating margin for the latest reported period is -3.4%.
  • Business depends on completed deal flow: Key operating metrics center on transaction volume and transaction counts, so weak deal activity can pressure revenue.
Valuation — source: SEC EDGAR (first-party)
Price$32.67
Market Cap$1.24B
P/E Ratio86.2
EV / EBITDA53.3
Price / Book2.14
Price / Sales1.52
FCF Yield6.8%
DCF Value (model)$15.77
DCF Upside vs Price-51.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$755.16M
Net Margin-0.3%
Revenue Growth (YoY)17.8%
EPS Growth (YoY)-135.7%
FCF Growth (YoY)10.1%
Financial Health — source: SEC EDGAR
Altman Z-Score5.17 (safe)
Valuation vs Sector & Industry
Stock P/E86.2
Sector P/E (Real Estate)27.1
Industry P/E (Real Estate)29.8
vs Sector217.6%
vs Industry189.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($104.49M)
Institutional Holders Tracked10
Company
SectorReal Estate
IndustryReal Estate
CEOHessam Nadji
Employees897
CountryUS
IPO Date2013-10-31

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MMI earnings history · MMI institutional & insider holders · MMI KPIs & operating metrics · MMI financials · MMI investor presentations & press releases · MMI SEC filings · MMI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.