# Marcus & Millichap, Inc.: overview

MMI · NYSE · CIK 1578732 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mmi.md) · [Financials](/companies/mmi/financials.md) · [Filings](/companies/mmi/filings.md) · [Insiders](/companies/mmi/insiders.md)

Latest reported revenue: [$202.9m](/filings/0001628280-26-054439.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-054439).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [169](/filings/0001628280-25-050707.md) | [240 d](/filings/0001628280-26-012419.md) | [145](/filings/0001628280-26-032300.md) | [172](/filings/0001628280-26-054439.md) | [194](/filings/0001628280-25-050707.md) | [244 d](/filings/0001628280-26-012419.md) | [171](/filings/0001628280-26-032300.md) | [203](/filings/0001628280-26-054439.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(6.8%)](/filings/0001628280-25-050707.md) | [2.8% d](/filings/0001628280-26-012419.md) | [(12.2%)](/filings/0001628280-26-032300.md) | [(5.3%)](/filings/0001628280-26-054439.md) | [(1.2%)](/filings/0001628280-25-050707.md) | [6.3% d](/filings/0001628280-26-012419.md) | [(3.4%)](/filings/0001628280-26-032300.md) | [1.1%](/filings/0001628280-26-054439.md) |
| Net margin | % | [(3.2%)](/filings/0001628280-25-050707.md) | [3.6% d](/filings/0001628280-26-012419.md) | [(3.0%)](/filings/0001628280-26-032300.md) | [(6.4%)](/filings/0001628280-26-054439.md) | [0.1%](/filings/0001628280-25-050707.md) | [5.5% d](/filings/0001628280-26-012419.md) | [(1.8%)](/filings/0001628280-26-032300.md) | [1.9%](/filings/0001628280-26-054439.md) |
| Diluted EPS | $ per share | [(0.14)](/filings/0001628280-25-050707.md) | not reported | [(0.11)](/filings/0001628280-26-032300.md) | [(0.28)](/filings/0001628280-26-054439.md) | [0.01](/filings/0001628280-25-050707.md) | not reported | [(0.08)](/filings/0001628280-26-032300.md) | [0.10](/filings/0001628280-26-054439.md) |
| Free cash flow | $m | [13.2 d](/filings/0001628280-25-050707.md) | [55.1 d](/filings/0001628280-26-012419.md) | [(54.3)](/filings/0001628280-26-032300.md) | [19.3 d](/filings/0001628280-26-054439.md) | [50.0 d](/filings/0001628280-25-050707.md) | [43.9 d](/filings/0001628280-26-012419.md) | [(30.5)](/filings/0001628280-26-032300.md) | [21.2 d](/filings/0001628280-26-054439.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,296](/filings/0001578732-24-000009.md) | [1,302](/filings/0001578732-25-000015.md) | [646](/filings/0001628280-26-012419.md) | [696](/filings/0001628280-26-012419.md) | [755](/filings/0001628280-26-012419.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [14.6%](/filings/0001578732-24-000009.md) | [10.6%](/filings/0001578732-25-000015.md) | [(9.2%)](/filings/0001628280-26-012419.md) | [(4.7%)](/filings/0001628280-26-012419.md) | [(1.8%)](/filings/0001628280-26-012419.md) |
| Net margin | % | [11.0%](/filings/0001578732-24-000009.md) | [8.0%](/filings/0001578732-25-000015.md) | [(5.3%)](/filings/0001628280-26-012419.md) | [(1.8%)](/filings/0001628280-26-012419.md) | [(0.3%)](/filings/0001628280-26-012419.md) |
| Diluted EPS | $ per share | [3.55](/filings/0001578732-24-000009.md) | [2.59](/filings/0001578732-25-000015.md) | [(0.88)](/filings/0001628280-26-012419.md) | [(0.32)](/filings/0001628280-26-012419.md) | [(0.05)](/filings/0001628280-26-012419.md) |
| Free cash flow | $m | [249](/filings/0001578732-24-000009.md) | [2.0](/filings/0001578732-25-000015.md) | [(81.8)](/filings/0001628280-26-012419.md) | [13.8](/filings/0001628280-26-012419.md) | [58.8](/filings/0001628280-26-012419.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/mmi/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $112.8m | 3,618,887 |  | Reduced −310,849 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $77.7m | 2,491,466 |  | Reduced −76,580 |
| [SCHRODER INVESTMENT MANAGEMENT GROUP](/funds/1086619.md) | 2026-06-30 | $71.3m | 2,285,406 |  | Added +1,354,509 |
| [PZENA INVESTMENT MANAGEMENT LLC](/funds/1027796.md) | 2026-06-30 | $66.7m | 2,141,001 |  | Added +128,238 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $46.4m | 1,489,218 |  | Added +7,446 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $31.8m | 1,020,602 |  | Reduced −38,940 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $29.6m | 949,388 |  | Added +11,164 |
| [Tributary Capital Management, LLC](/funds/1441888.md) | 2026-06-30 | $23.1m | 740,631 |  | Reduced −21,835 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $20.6m | 659,314 |  | Added +14,161 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $17.2m | 551,097 |  | Added +126,760 |

## Recent filings

[All 815 filings](/companies/mmi/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-06 | 16:59 ET | [10-Q](/filings/0001628280-26-054439.md) | Quarterly report, period 2026-06-30 | 0001628280-26-054439 |
| 2026-08-06 | 21:38 ET | [8-K](/filings/0001628280-26-053748.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-053748 |
| 2026-05-07 | 17:04 ET | [10-Q](/filings/0001628280-26-032300.md) | Quarterly report, period 2026-03-31 | 0001628280-26-032300 |
| 2026-05-07 | 20:31 ET | [8-K](/filings/0001628280-26-031593.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-031593 |
| 2026-05-01 | 16:47 ET | [8-K](/filings/0001193125-26-201642.md) | 5.07 Shareholder vote results | 0001193125-26-201642 |
| 2026-03-18 | 16:05 ET | [DEF 14A](/filings/0001193125-26-113930.md) | Proxy statement, period 2026-04-30 | 0001193125-26-113930 |
| 2026-02-26 | 17:21 ET | [10-K](/filings/0001628280-26-012419.md) | Annual report, period 2025-12-31 | 0001628280-26-012419 |
| 2026-02-13 | 21:16 ET | [8-K](/filings/0001628280-26-007874.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-007874 |
| 2025-11-07 | 17:06 ET | [10-Q](/filings/0001628280-25-050707.md) | Quarterly report, period 2025-09-30 | 0001628280-25-050707 |
| 2025-11-07 | 21:26 ET | [8-K](/filings/0001628280-25-050398.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-25-050398 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001628280-26-012419.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/9793f712-9689-428a-ae89-fef48833467d)

## About the filer

- CIK: 1578732
- Tickers: MMI
- Exchange: NYSE
- SIC code: 6531 Real Estate Agents & Managers (For Others)
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 17:32 ET. No prices; not investment advice.