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Companies / Real Estate / Marcus & Millichap, Inc.
MMI

Marcus & Millichap, Inc.

Real EstateReal Estate
Ticker MMICALABASAS, CAFiscal year ends DecemberBook value per share $15.00Diluted shares 38.3M

Marcus & Millichap, Inc. (NYSE: MMI) is a commercial real estate services firm focused on investment sales, financing, research and advisory services. It represents commercial property owners in sales and buyers seeking acquisitions, and provides capital placement, loan sales, consulting, valuation and leasing… From the company’s description.

Over the twelve months to Sep 30, 2026, Marcus & Millichap, Inc. reported revenue of $826.70M, up 10.0% from a year earlier, and net income of $15.12M. Its operating margin was 1.3%, and operations generated $74.12M in cash. In fiscal 2025, it reported revenue of $755.16M, up 8.5% from fiscal 2024, and a net loss of $1.91M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$755.16MFY2025
+8.5% year over year
Last 12 mo $826.70M
-1.82%FY2025
+2.9 percentage points
Last 12 mo 1.32%
$-1.91MFY2025
+84.6% year over year
Last 12 mo $15.12M
-0.32%FY2025
+1.6 percentage points
Last 12 mo 2.63%
Cash & financing
$66.66MFY2025
+207.0% year over year
Last 12 mo $74.12M
$58.78MFY2025
+324.7% year over year
Last 12 mo $65.86M
—
38.9MFY2025
+0.7% year over year
Last 12 mo 38.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Marcus & Millichap, Inc. does

In the company’s own words

Marcus & Millichap, Inc. (NYSE: MMI) is a commercial real estate services firm focused on investment sales, financing, research and advisory services. It represents commercial property owners in sales and buyers seeking acquisitions, and provides capital placement, loan sales, consulting, valuation and leasing services to owners, developers, investors, tenants and landlords. The company’s largest market is private-client transactions involving properties priced from $1 million to under $10 million; this market generated approximately 64% of brokerage commissions in 2025. Revenue comes primarily from brokerage commissions and financing fees, with financing services arranged through Marcus & Millichap Capital Corporation. Its research division publishes analysis across 10 property types and capital markets. As of December 31, 2025, the company had 1,808 investment sales and financing professionals working across more than 80 offices in the United States and Canada, and completed 8,818 transactions in 2025 with approximately $50.8 billion in sales volume. Founded in 1971 as part of Marcus & Millichap Company, the business became a separately listed company following its 2013 initial public offering. Its website is www.MarcusMillichap.com.

Company details
Sector
Real Estate
Industry (SIC)
Real Estate
Headquarters
CALABASAS, CA
Fiscal year end
December
CIK
1578732
SIC
6531

Financial performance, year by year

Fiscal 2013–2025 · USD
$-167.61M$233.11M$633.84M$1.03B$1.44B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Marcus & Millichap, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

208
funds hold it
0 of 35
superinvestors hold it
$327.63M
held by funds, at market
28.9%
of shares held by funds

Largest fund holders · Marcus & Millichap, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.04%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.02%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Marcus & Millichap, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Marcus & Millichap, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Marcus & Millichap, Inc.'s last four quarterly filings that the numbers alone won't show?”
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