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Marcus & Millichap, Inc.
Marcus & Millichap, Inc. (MMI) is listed on NYSE and classified in Real Estate Services, part of the Real Estate sector. It is headquartered in Calabasas, United States and has 854 employees. The company is worth $1.07B and trades at 76.4x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $755.16M in fiscal 2025, up 8.5% from the year before. It reported a net loss of $1.91M. The share price is 15.7% below its 52-week high of $33.55. It pays a dividend yielding 1.77%. 4 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $17.18M. In that quarter, 2 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -34.6% over 5Y.
today you would have $654.59▼ -34.5%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 13 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $27.29 | $38.26 | $43.68 | $34.45 | $51.46 | $37.23 | $37.25 | $34.33 | $32.61 | $26.72 | $29.14 | $33.25 | $14.90 | |
| P/E | 18.2x | — | — | — | 13.3x | 14.5x | 34.5x | 19.1x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 25.0% a year plus a 1.8% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 18.2 across this company’s own years on record.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 0.0% a year against a 10.5% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| HBNBHotel101 Global Holdings Corp. | $4.67 | — | 64.0x | 0.00% | -289.01% | $1.09B |
| NHPNational Healthcare Properties, Inc. | $15.11 | — | 1.0x | 1.99% | -5.26% | $1.1B |
| DEAEasterly Government Properties, Inc. | $22.57 | 118.8x | 0.8x | 7.98% | 0.77% | $1.11B |
| BFSSaul Centers Inc |
| 15.5x |
| 24.7x |
| 16.1x |
| 17.2x |
| 26.2x |
| 62.1x |
| P/S | 1.6x | 1.4x | 2.1x | 2.6x | 1.0x | 1.6x | 2.0x | 1.8x | 1.6x | 1.7x | 1.4x | 1.6x | 2.2x | 1.3x |
| P/B | 3.0x | 1.7x | 2.4x | 2.6x | 1.9x | 2.9x | 2.7x | 3.0x | 3.3x | 4.0x | 3.9x | 5.8x | 10.6x | 8.7x |
| EPS | -$0.05 | -$0.32 | -$0.88 | $2.59 | $3.55 | $1.08 | $1.95 | $2.22 | $1.32 | $1.66 | $1.69 | $1.27 | $0.24 |
| Dividend yield | 1.57% | 1.83% | 1.31% | 1.14% | 4.35% | — | — | — | — | — | — | — | — | — |
| Payout | — | — | — | — | 57.92% | — | — | — | — | — | — | — | — | — |
| Profit margin | 8.01% | -0.25% | -1.78% | -5.27% | 8.01% | 10.99% | 5.98% | 9.54% | 10.71% | 7.16% | 9.01% | 9.63% | 8.66% | 1.88% |
| ROE | 15.55% | -0.32% | -1.96% | -5.27% | 14.61% | 20.46% | 7.83% | 15.55% | 21.30% | 16.36% | 24.98% | 35.11% | 42.40% | 13.13% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
-16.8% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $29.52 |
| 30.1x |
| 6.6x |
| 7.99% |
| 9.56% |
| $1.03B |
| CSRCenterspace | $57.45 | 45.6x | 1.4x | 5.36% | 3.39% | $1.02B |
| NXRTNexPoint Residential Trust, Inc. | $19.09 | — | 2.0x | 11.11% | -11.09% | $985.12M |