MARCUS & MILLICHAP INC (MMI)
Real Estate · Commercial Real Estate Brokerage and Financing Services · NYSE
A leading national commercial real estate brokerage and financing platform specializing in the $1–10 million private client investment market.
What MARCUS & MILLICHAP INC does
Marcus & Millichap is a national commercial real estate services firm that generates revenue primarily from real estate brokerage commissions on property sales and financing fees. The company specializes in the $1–10 million private client market, which comprises over 80% of U.S. commercial property transactions above $1 million and represents approximately 64% of the firm's brokerage commission revenue. The business operates through a network of 1,808 investment sales and financing professionals across over 80 offices in the U.S. and Canada, closing over 8,800 transactions annually with approximately $50.8 billion in transaction volume as of 2025.
Themes: ["Commercial real estate brokerage","Commercial real estate financing / capital markets","Private client / mid-market real estate investment","Commercial property sales and transactions"]
Fundamentals
- Price$30.88 as of 2026-07-09 close
- Market cap$1.2B as of 2026-07-10
- 1-year return-2.5% as of 2026-07-09 close
- Net margin-0.1% as of 2026-07-10
- Gross margin+37.9% as of 2026-07-10
- ROE-0.1% as of 2026-07-10
- Debt / equity0.00 as of 2026-07-10
- Revenue growth (YoY)+9.8% as of 2026-07-10
- Revenue CAGR (3y)-16.6% SEC XBRL
- Beta1.25 as of 2026-07-10
Dividend: yield +1.6%; 1-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Company is currently unprofitable with a net margin of -0.08% as of the most recent quarter; operating losses reported in Q1 2026 ($5.8 million) despite revenue growth of 9.77% YoY, indicating margin compression and operational challenges.","Business depends on commission-based compensation structure with independent contractors (1,808 professionals as of December 2025); retention and recruitment of investment sales and financing professionals in a competitive market could impact transaction volumes and revenue.","Revenue is highly dependent on commercial real estate transaction volumes and capital availability; macroeconomic downturns, rising interest rates, or tightening credit markets could significantly reduce transaction activity and financing demand."]
Competitors & peers
- JLL (Jones Lang LaSalle)
- CBRE Group (CBRE)
- Cushman & Wakefield
- Berkadia (portfolio company focusing on commercial real estate financing)
- Redfin (RDFN) (expanding into commercial real estate)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.