15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 1.0% per year over the past 5 years.
Operating margin has contracted, at -1.8% in the latest year.
Free cash flow has grown 13.5% per year over the past 5 years.
Financial health
Operating income covered interest expense -17.7× in the latest year.
Shareholder returns
Dividends have been paid for 4 consecutive years, consuming 35.0% of free cash flow.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$755M
-$2M
0.0%
-1.8%
$59M
—
$162M
2024
$696M
-$12M
0.0%
-4.7%
$14M
—
$153M
2023
$646M
-$34M
0.0%
-9.2%
-$82M
—
$171M
2022
$1.3B
$104M
0.0%
10.6%
$2M
—
$236M
2021
$1.3B
$142M
0.0%
14.6%
$249M
—
$382M
2020
$717M
$43M
0.0%
7.5%
$31M
—
$243M
2019
$806M
$77M
0.0%
12.0%
$16M
—
$233M
2018
$815M
$87M
38.3%
13.8%
$109M
—
$215M
2017
$720M
$52M
38.0%
13.4%
$60M
—
$221M
2016
$717M
$65M
38.0%
14.8%
$65M
—
$187M
2015
—
$66M
—
—
—
—
$96M
2014
—
$50M
—
—
—
—
—
2013
—
$8M
—
—
$92M
—
—
2012
—
$28M
—
—
$31M
—
—
2011
—
$13M
—
—
$15M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$171M
-$3M
0.0%
-3.4%
-$31M
—
$137M
Dec '25
$244M
$13M
0.0%
6.3%
$44M
—
$162M
Sep '25
$194M
$240000
0.0%
-1.2%
$50M
—
$117M
Jun '25
$172M
-$11M
0.0%
-5.3%
$19M
—
$86M
Mar '25
$145M
-$4M
0.0%
-12.2%
-$54M
—
$150M
Dec '24
$240M
$9M
0.0%
2.8%
$55M
—
$153M
Sep '24
$169M
-$5M
0.0%
-6.8%
$13M
—
$173M
Jun '24
$158M
-$6M
0.0%
-5.1%
-$806000
—
$162M
Mar '24
$129M
-$10M
0.0%
-15.6%
-$54M
—
$91M
Dec '23
$166M
-$10M
0.0%
-10.3%
$13M
—
$171M
Sep '23
$162M
-$9M
0.0%
-9.5%
$5M
—
$224M
Jun '23
$163M
-$9M
0.0%
-6.6%
$4M
—
$171M
Mar '23
$155M
-$6M
0.0%
-10.4%
-$104M
—
$228M
Dec '22
$262M
$8M
0.0%
2.2%
$22M
—
$236M
Sep '22
$324M
$21M
0.0%
9.4%
$37M
—
$271M
Jun '22
$396M
$42M
0.0%
14.3%
$13M
—
$212M
Mar '22
$319M
$33M
0.0%
13.9%
-$69M
—
$316M
Dec '21
$495M
$62M
0.0%
16.5%
$154M
—
$382M
Sep '21
$332M
$34M
0.0%
13.7%
$65M
—
$281M
Jun '21
$285M
$32M
0.0%
14.6%
$52M
—
$230M
Valuation over time
How the market has priced MMI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 11.7× (Mar '23) to 15.9× (Dec '23).
The price-to-sales ratio has risen from 0.9× (Mar '23) to 1.5× (Jun '26).
The dividend yield has fallen from 5.0% (Mar '23) to 1.8% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MMI growing its revenue and profit?
Over the past 5 years, Marcus & Millichap, Inc.'s revenue has grown 1.0% per year. These are computed facts, not advice.
How much debt does MMI have?
As of FY2025, Marcus & Millichap, Inc. reported — of total debt against $162M of cash; operating income covered interest expense -17.7×.
What is MMI's profit margin?
In FY2025, gross margin was —, operating margin -1.8%, and net margin -0.3%.
What is MMI's P/E ratio?
As of Jun '26, Marcus & Millichap, Inc. traded at a price-to-earnings ratio of about 15.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.