Is Marcus and Millichap (MMI) overvalued or fairly valued?

MarketChacha shows Marcus and Millichap's valuation in context — a forward P/E of about 30.2, a price-to-book of about 1.8 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

What is Marcus and Millichap's revenue?

Marcus and Millichap reported revenue of $755.2M for FY2025, with net profit of $-1.9M, per official filings.

What is the share price of Marcus and Millichap (MMI)?

Marcus and Millichap last traded at $28.06 (+2.6% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Marcus and Millichap

MMI · NYSE · Real Estate · United States

Snapshot

TickerMMI

ExchangeNYSE

SectorReal Estate

IndustryReal Estate Services

CountryUnited States

Employees854

HeadquartersCalabasas, United States

Websitewww.marcusmillichap.com

Filings tracked11

About Marcus and Millichap

Marcus & Millichap, Inc., an investment brokerage company, provides commercial real estate investment sales, financing services, research and advisory services in the United States and Canada. The company offers research on various property types comprising multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets/financing. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, preferred equity, and securitization services, as well as loan sales and due diligence services to commercial real estate owners, developers, and investors. In addition, the company offers a way to buy and sell commercial property as a complement to its traditional property marketing channels. Further, it provides advisory and consulting services, which include opinions of value, operating and financial performance benchmarking analysis, specific asset buy-sell strategies, market and submarket analysis and ranking, portfolio strategies by property type, market strategy, development and redevelopment feasibility studies, and other services; and leasing services for tenants and/or landlords in connection with commercial real estate leases. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California.

Who owns it

Insiders3.9%
Institutions96.1%
Public & other0.0%

273 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.56%
Vanguard Portfolio Management LLC6.58%
Schroder Investment Management Group6.03%
Pzena Investment Management LLC5.65%
Dimensional Fund Advisors LP3.93%
Vanguard Capital Management LLC2.69%
State Street Corporation2.51%
Tributary Capital Management, LLC1.96%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Latest ROE of -0.3% is on the low side — the business earns a modest return on shareholder capital.

Net margin trend-5.3% → -0.3%

Margin has expanded by about 5.0 points — the business is getting more profitable.

Return on equity-0.3%

Latest ROE of -0.3% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $262.4M · EPS 0.41

Est. earnings growth +20.6%

Next fiscal year

Rev $934.7M · EPS 0.93

Est. earnings growth +93.8%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$755.2M

Net margin

-0.3%

ROE

-0.3%

Revenue CAGR (2y)

+8.1%

EPS (FY2025)

-0.05

Net profit (FY2025)

$-1.9M

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$755.2M	$-1.9M	-0.05	-0.3%	-0.3%
FY2024	$696.1M	$-12.4M	-0.32	-1.8%	-2.0%
FY2023	$645.9M	$-34.0M	-0.88	-5.3%	-5.3%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$202.9M	$3.9M	0.10	1.9%
2026Q1	$171.5M	$-3.1M	-0.08	-1.8%
2025Q3	$193.9M	$240,000	0.01	0.1%
2025Q2	$172.3M	$-11.0M	-0.28	-6.4%
2025Q1	$145.0M	$-4.4M	-0.11	-3.0%
2024Q3	$168.5M	$-5.4M	-0.14	-3.2%
2024Q2	$158.4M	$-5.5M	-0.14	-3.5%
2024Q1	$129.1M	$-10.0M	-0.26	-7.7%
2023Q3	$162.0M	$-9.2M	-0.24	-5.7%
2023Q2	$162.9M	$-8.7M	-0.23	-5.4%
2023Q1	$154.8M	$-5.8M	-0.15	-3.8%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/6/2026material
10-Q filing
SEC8/6/2026
8-K — Results of operations, Exhibits
SEC5/7/2026material
10-Q filing
SEC5/7/2026
8-K — Shareholder vote results
SEC5/1/2026material
10-K filing
SEC2/26/2026
8-K — Results of operations, Exhibits
SEC2/13/2026material

2025

8-K — Results of operations, Exhibits
SEC11/7/2025material
10-Q filing
SEC11/7/2025
8-K — Results of operations, Exhibits
SEC8/7/2025material
10-Q filing
SEC8/7/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.