RE/MAX Holdings, Inc. (RMAX) Stock

RE/MAX Holdings, Inc. (RMAX) is a Real Estate stock trading at $9.37 (as of 2026-07-24), with a market capitalization of $241.53M and a trailing P/E of 652.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

RE/MAX Holdings, Inc. operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand. In addition, the company provides First mobile app, which integrates a suite of digital products that enables agents, brokers, and teams to establish and manage client relationships; RE/MAX University platform, a learning hub designed to help each agent in their professional expertise; and Booj platform. The company was founded in 1973 and is headquartered in Denver, Colorado.

Understand RE/MAX Holdings, Inc.: how it makes money

RE/MAX Holdings franchises real estate brokerage services under the RE/MAX brand, provides mortgage brokerage under the Motto Mortgage brand, and offers mortgage loan processing software and services under the wemlo brand, earning money through its franchising and related services tied to its agent and franchise network.

Because RE/MAX is a franchisor, its core economics are driven by the size and growth of its independent agent and franchise network, which then supports its franchise-related revenue streams and mortgage-related processing activity.

Revenue by segment (latest quarter)
Real Estate$0.1B
Mortgage$0.0B
Marketing Funds$0.1B

Business quality (Weak): The latest quarter shows negative operating margin (-11.1%) and reported Mortgage segment revenue of 0.0, while operating KPIs focus on agent counts, franchise office counts, and loan processing activity, but the segment revenue breakdown provided is limited to a few high-level items.

Valuation: At 566× earnings, RMAX trades 1545% above the Real Estate average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Large, tracked agent network: The company reports 47,443 agents in the United States and 25,849 agents in Canada for the quarter.
  • Mortgage platform activity is measurable: WEMLO processed 6,000 loans to clear to close.
  • Ongoing franchise expansion indicators: Motto Mortgage Franchise Offices Open is reported at 210, and RE/MAX Motto Franchises Sold to Date is reported at 300.
  • Program-level engagement signals: Aspire Program Adoption is reported at 2,000, with Aspire Program Benefiting Agents at 1,500, and an Aspire Program participation rate of 60% for eligible brokerages in the United States and Canada.

Bear case

  • Profitability is currently negative: Operating margin is reported at -11.1% for the quarter ended 2026-03-31.
  • Mortgage segment revenue is reported as 0.0: Mortgage Segment Revenue is listed as 0.0, which can limit visibility into how much of the mortgage ecosystem revenue is showing up in that segment.
  • Growth and monetization may not convert smoothly: While WEMLO loan processing and franchise office counts are tracked, the quarter still shows a negative operating margin, so operating leverage is not evident in the latest period.
Valuation — source: SEC EDGAR (first-party)
Price$9.37
Market Cap$241.53M
P/E Ratio652.8
EV / EBITDA8.4
Price / Book-5.80
Price / Sales0.84
Dividend Yield0.1%
FCF Yield10.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$291.60M
Net Margin4.6%
Return on Equity-0.9%
Debt / Equity-10.47
Current Ratio1.57
Revenue Growth (YoY)-1.8%
EPS Growth (YoY)-74.2%
FCF Growth (YoY)-100.0%
Financial Health — source: SEC EDGAR
Altman Z-Score0.90 (distress)
Valuation vs Sector & Industry
Stock P/E652.8
Sector P/E (Real Estate)30.1
Industry P/E (Real Estate)30.2
vs Sector2069.4%
vs Industry2058.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock Fund Advisors ($80.30M)
Institutional Holders Tracked10
Company
SectorReal Estate
IndustryReal Estate
CEOW. Erik Carlson
Employees536
CountryUS
IPO Date2013-10-02

Related Companies (Business model: Real Estate Services / Brokerage / Property Management; 8 closest by market cap; US-domiciled)

  • Newmark Group, Inc. (NMRK)
  • Opendoor Technologies Inc. (OPEN)
  • Marriott Vacations Worldwide Corporation (VAC)
  • Marcus & Millichap, Inc. (MMI)
  • eXp World Holdings, Inc. (AGNT)
  • Douglas Elliman Inc. (DOUG)
  • Linkhome Holdings Inc. (LHAI)
  • Offerpad Solutions Inc. (OPAD)
RMAX earnings history · RMAX institutional & insider holders · RMAX KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

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