Marcus & Millichap
Brokers commercial property sales and financing through a national buyer-matching platform.
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Profile
Brokers commercial real estate investment sales, financing, research, and advisory services for private-client and institutional property owners. Revenue is mostly transaction-based, with execution shaped by deal activity, advisor recruiting and retention, California exposure, and real estate broker licensing.
Specializes in commercial real estate investment sales, financing services, research, and advisory work. The core brokerage line represents property owners and buyers, while Marcus & Millichap Capital Corporation arranges commercial real estate capital-markets solutions. Institutional Property Advisors serves larger institutional and major private clients.
Operations are concentrated in the United States with a Canadian presence. MNet connects listing inventory and buyer needs across the platform, supporting a model built around private-client transactions, local advisors, and national buyer matching.
Revenue is earned mainly when sales or financing transactions close. Performance depends on transaction activity, recruiting and retaining investment sales and financing professionals, California market conditions, and maintaining real estate and broker licenses.
Company facts
Categories
Key statistics
Year to date +20.6% · Average volume (30d) 123.0K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.03 | $0.10 | +233.3% | $194.3M | $202.9M | +4.4% | +1.44% |
| May 7, 2026Q1 FY26 | −$0.08 | −$0.08 | 0.0% | $162.2M | $171.5M | +5.7% | +3.05% |
| Feb 13, 2026Q4 FY25 | $0.22 | $0.34 | +58.1% | $229.5M | $244.0M | +6.3% | −3.25% |
| Nov 7, 2025Q3 FY25 | $0.24 | $0.09 | −62.5% | $239.7M | $193.9M | −19.1% | +2.80% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $145.0M | $172.3M | $193.9M | $244.0M | $171.5M | $202.9M | |
| Gross profit | $51.0M | $59.4M | $67.4M | $82.7M | $63.0M | $76.2M | |
| Operating income | −$17.9M | −$8.3M | −$1.8M | $15.7M | −$5.8M | $2.2M | |
| Net income | −$4.4M | −$11.0M | $240.0K | $13.3M | −$3.1M | $3.9M | |
| Diluted EPS | −$0.11 | −$0.28 | $0.01 | $0.34 | −$0.08 | $0.10 | |
| Gross margin | 35.2% | 34.5% | 34.8% | 33.9% | 36.8% | 37.6% | |
| Operating margin | -12.3% | -4.8% | -0.9% | 6.4% | -3.4% | 1.1% |
Fiscal years (4-quarter sums)FY21 $1.30B · FY22 $1.30B · FY23 $645.9M · FY24 $696.1M · FY25 $755.2M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $216.5M · Total debt $74.2M · Total assets $765.8M · Shareholders' equity $578.9M
Dividends
Raised for 2 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 13, 2026 | Mar 13 | Apr 3 | $0.25 | |
| Sep 15, 2025 | Sep 15 | Oct 6 | $0.25 | |
| Mar 12, 2025 | Mar 12 | Apr 4 | $0.25 | |
| Sep 16, 2024 | Sep 16 | Oct 4 | $0.25 | |
| Mar 11, 2024 | Mar 12 | Apr 5 | $0.25 | |
| Sep 14, 2023 | Sep 15 | Oct 6 | $0.25 | |
| Mar 13, 2023 | Mar 14 | Apr 6 | $0.25 | |
| Sep 14, 2022 | Sep 15 | Oct 6 | $0.25 |
Ownership
Shares outstanding 37.82M · Float 23.03M · 60.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.62M | 9.57% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.49M | 6.59% | 13F | Aug 13, 2026 |
| Schroder Investment Management Group | 2.29M | 6.04% | 13F | Aug 13, 2026 |
| Reinhart Partners, LLC. | 2.16M | 5.60% | 13G | May 15, 2025 |
| Pzena Investment Management LLC | 2.14M | 5.66% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Hessam Nadji | director, officer: Chief Executive Officer | −500 | $30.39 |
| Aug 11, 2025 | Lauralee Martin | director | +1,701 | $29.34 |
| Mar 13, 2026 | Hessam Nadji | director, officer: Chief Executive Officer | −1,300 | $25.60 |
Peers
- CBRE Group
Scale leader in property sales, debt origination and advisory
- Jones Lang LaSalle
Global brokerage and capital-markets peer
- Newmark Group
Direct U.S. advisory, investment-sales and mortgage-finance rival
- Cushman & Wakefield
Full-service CRE firm with sales, leasing and financing overlap
- Colliers International Group
Commercial real estate and investment-management competitor
- Walker & Dunlop
Multifamily-focused financing and property-sales competitor
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Marcus & Millichap | $32.50 | −0.15% | $1.23B | 88.8 | 45.5 | 1.5 | +17.8% |
| CBRE Group | $150.82 | −0.07% | $43.69B | 34.6 | 18.8 | 1.0 | +15.1% |
| Jones Lang LaSalle | $378.01 | +0.00% | $17.39B | 18.1 | 14.5 | 0.6 | +10.8% |
| Newmark Group | $15.83 | −0.03% | $2.47B | 19.9 | 7.6 | 0.7 | +17.0% |
| Cushman & Wakefield | $14.12 | +0.07% | $3.31B | 48.4 | 9.1 | 0.3 | +11.2% |
| Colliers International Group | $102.93 | +0.07% | $5.12B | 47.9 | 12.7 | 0.9 | +13.3% |
| Walker & Dunlop | $41.78 | +1.04% | $1.42B | 36.9 | 12.2 | 1.1 | +3.5% |
| Median | 35.8 | 12.5 | 0.8 | +12.2% |