Marcus & Millichap, Inc.MMIEarnings & Financial Report
Marcus & Millichap, Inc. is an American company that provides real estate brokerage, mortgage brokerage, research, and advisory services in the U.S. and Canada in the field of commercial property. It popularized the practice of listing properties exclusively with one brokerage firm. The company has over 1,800 employees in more than 80 offices across the U.S. and Canada.
MMI Q4 2025 Key Financial Metrics
Revenue
$243.9M
Gross Profit
N/A
Operating Profit
$15.4M
Net Profit
$13.3M
Gross Margin
N/A
Operating Margin
6.3%
Net Margin
5.5%
YoY Growth
1.6%
EPS
$0.33
Financial Flow
Marcus & Millichap, Inc. Q4 2025 Financial Summary
Marcus & Millichap, Inc. reported revenue of $243.9M (up 1.6% YoY) for Q4 2025, with a net profit of $13.3M (up 55.7% YoY) (5.5% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $243.9M |
|---|---|
| Net Profit | $13.3M |
| Gross Margin | N/A |
| Operating Margin | 6.3% |
| Report Period | Q4 2025 |
Revenue Breakdown
Marcus & Millichap, Inc. Q4 2025 revenue of $243.9M breaks down across 3 segments, led by Real Estate Brokerage Commissions at $205.3M (84.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Real Estate Brokerage Commissions | $205.3M | 84.2% |
| Financing Fees | $33.2M | 13.6% |
| Other Revenues | $5.4M | 2.2% |
Marcus & Millichap, Inc. Revenue by Segment — Quarterly Trend
Marcus & Millichap, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Real Estate Brokerage Commissions and Financing Fees) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Real Estate Brokerage Commissions | $205.3M | $162.2M | $141.4M | $123.6M |
| Financing Fees | $33.2M | $26.3M | $26.3M | $18.1M |
| Other Revenues | $5.4M | $5.4M | $4.6M | $3.3M |
Marcus & Millichap, Inc. Annual Revenue by Year
Marcus & Millichap, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $755.2M). Click any linked year to see what changed vs the prior annual report.
Marcus & Millichap, Inc. Quarterly Revenue & Net Profit History
Marcus & Millichap, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $243.9M | +1.6% | $13.3M | 5.5% |
| Q3 2025 | $193.9M | +15.1% | $240.0K | 0.1% |
| Q2 2025 | $172.3M | +8.8% | $-11.0M | -6.4% |
| Q1 2025 | $145.0M | +12.3% | $-4.4M | -3.0% |
| Q4 2024 | $240.1M | +44.4% | $8.5M | 3.6% |
| Q3 2024 | $168.5M | +4.0% | $-5.4M | -3.2% |
| Q2 2024 | $158.4M | -2.8% | $-5.5M | -3.5% |
| Q1 2024 | $129.1M | -16.6% | $-10.0M | -7.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $129.1M | $158.4M | $168.5M | $240.1M | $145.0M | $172.3M | $193.9M | $243.9M |
| YoY Growth | -16.6% | -2.8% | 4.0% | 44.4% | 12.3% | 8.8% | 15.1% | 1.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $826.7M | $825.4M | $833.7M | $869.8M | $802.0M | $792.2M | $812.5M | $827.2M |
| Liabilities | $201.1M | $198.8M | $216.0M | $239.0M | $184.5M | $184.4M | $210.3M | $224.1M |
| Equity | $625.6M | $626.7M | $617.7M | $630.8M | $617.6M | $607.8M | $602.2M | $603.1M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-51.0M | $851000 | $15.2M | $56.7M | $-52.8M | $21.0M | $52.2M | $46.3M |