MMI Stock Analysis: Marcus & Millichap | NYSE
Real Estate Services | NYSE, USA | Market Cap: 1.172m USD | 12M Return: -0.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.56M
Qual. Beats: 0
Rev. Trend: 10.5%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Marcus & Millichap, Inc. (NYSE: MMI) is a commercial real estate investment brokerage firm founded in 1971 and headquartered in Calabasas, California. The company provides investment sales, financing, research, and advisory services across the United States and Canada, covering a broad range of property types including multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing.
In addition to traditional property marketing, Marcus & Millichap operates as a financial intermediary, offering capital markets solutions such as senior debt, mezzanine debt, joint venture equity, preferred equity, and securitization services, along with loan sales and due diligence support. The firm also provides advisory and consulting services, including valuation opinions, market analysis, feasibility studies, and tenant/landlord leasing services.
As a brokerage, the company primarily earns revenue through transaction-based commissions tied to commercial property sales and financing placements, making its performance closely linked to commercial real estate transaction volume and capital markets activity. The commercial real estate brokerage sector tends to be cyclical, with deal activity sensitive to interest rate movements, credit availability, and broader economic conditions.
- Commercial real estate transaction volumes decline amid rate uncertainty
- Office sector distress pressures investment sales commissions
- Capital markets revenue weakens as commercial lending tightens
| Net Income: -587k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 9.30 > 1.0 |
| NWC/Revenue: 19.52% < 20% (prev 33.55%; Δ -14.03% < -1%) |
| CFO/TA 0.12 > 3% & CFO 91.9m > Net Income -587k |
| Net Debt (-112.3m) to EBITDA (27.2m): -4.14 < 3 |
| Current Ratio: 2.65 > 1.5 & < 3 |
| Outstanding Shares: last quarter (38.2m) vs 12m ago -1.87% < -2% |
| Gross Margin: 34.87% > 18% (prev 36.99%; Δ -2.12% > 0.5%) |
| Asset Turnover: 100.4% > 50% (prev 88.77%; Δ 11.62% > 0%) |
| Interest Coverage Ratio: 20.99 > 6 (EBIT TTM 15.5m / Interest Expense TTM 739k) |
| A: 0.20 (Total Current Assets 245.1m - Total Current Liabilities 92.5m) / Total Assets 755.0m |
| B: 0.49 (Retained Earnings 373.3m / Total Assets 755.0m) |
| C: 0.02 (EBIT TTM 15.5m / Avg Total Assets 778.5m) |
| D: 3.06 (Book Value of Equity 569.1m / Total Liabilities 185.9m) |
| Altman-Z'' = 6.29 = AAA |
| DSRI: 2.25 (Receivables 33.3m/13.5m, Revenue 781.6m/712.0m) |
| GMI: 1.06 (GM 36.99% / 34.87%) |
| AQI: 1.19 (AQ_t 0.55 / AQ_t-1 0.46) |
| SGI: 1.10 (Revenue 781.6m / 712.0m) |
| TATA: -0.12 (NI -587k - CFO 91.9m) / TA 755.0m) |
| Beneish M = -1.77 (Cap -4..+1) = CCC |
As of July 14, 2026, the stock is trading at USD 30.46 with a total of 61,370 shares traded. Over the past week, the price has changed by -4.69%, over one month by +3.54%, over three months by +13.57% and over the past year by -0.82%.
Current recommended Stop Loss: 29.30 (which is 3.8% or 1.4 ATR below the current price).
Marcus & Millichap has received a consensus analysts rating of 1.00. Therefore, it is recommended to sell MMI.
- StrongBuy: 0
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 28 | -8.1% |
P/S = 1.4996
P/B = 2.1176
P/EG = 1.82
Revenue TTM = 781.6m USD
EBIT TTM = 15.5m USD
EBITDA TTM = 27.2m USD
Long Term Debt = 56.7m USD (estimated: total debt 75.0m - short term 18.3m)
Short Term Debt = 18.3m USD (from shortTermDebt, last quarter)
Debt = 75.0m USD (from shortLongTermDebtTotal, last quarter) (leases 75.0m already included)
Net Debt = -112.3m USD (calculated: Debt 75.0m - CCE 187.3m)
Enterprise Value = 1.06b USD (1.17b + Debt 75.0m - CCE 187.3m)
Interest Coverage Ratio = 20.99 (Ebit TTM 15.5m / Interest Expense TTM 739k)
EV/FCF = 12.83x (Enterprise Value 1.06b / FCF TTM 82.6m)
FCF Yield = 7.79% (FCF TTM 82.6m / Enterprise Value 1.06b)
FCF Margin = 10.56% (FCF TTM 82.6m / Revenue TTM 781.6m)
Net Margin = -0.08% (Net Income TTM -587k / Revenue TTM 781.6m)
Gross Margin = 34.87% ((Revenue TTM 781.6m - Cost of Revenue TTM 509.1m) / Revenue TTM)
Gross Margin QoQ = 36.77% (prev 33.91%)
Tobins Q-Ratio = 1.40 (Enterprise Value 1.06b / Total Assets 755.0m)
Interest Expense / Debt = 0.98% (Interest Expense 739k / Debt 75.0m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 12.3m (EBIT 15.5m * (1 - 21.00%))
Current Ratio = 2.65 (Total Current Assets 245.1m / Total Current Liabilities 92.5m)
Debt / Equity = 0.13 (Debt 75.0m / totalStockholderEquity, last quarter 569.1m)
Debt / EBITDA = -4.14 (Net Debt -112.3m / EBITDA 27.2m)
Debt / FCF = -1.36 (Net Debt -112.3m / FCF TTM 82.6m)
Total Stockholder Equity = 595.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.08% (Net Income -587k / Total Assets 755.0m)
RoE = -0.10% (Net Income TTM -587k / Total Stockholder Equity 595.5m)
RoCE = 2.38% (EBIT 15.5m / Capital Employed (Equity 595.5m + L.T.Debt 56.7m))
RoIC = 1.91% (NOPAT 12.3m / Invested Capital 641.7m)
WACC = 7.57% (E(1.17b)/V(1.25b) * Re(8.01%) + D(75.0m)/V(1.25b) * Rd(0.98%) * (1-Tc(0.21)))
Discount Rate = 8.01% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 28.89 | Cagr: -0.25%
[DCF] Terminal Value 77.97% ; FCFF base≈54.8m ; Y1≈62.8m ; Y5≈92.5m
[DCF] Fair Price = 39.76 (EV 1.39b - Net Debt -112.3m = Equity 1.50b / Shares 37.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 10.52 | Revenue CAGR: 1.34% | SUE: 0.68 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.08 | Chg30d=-166.67% | Revisions=+0% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.05 | Chg30d=-75.00% | Revisions=-40% | Analysts=2
EPS current Year (2026-12-31): EPS=0.43 | Chg30d=-34.85% | Revisions=+0% | GrowthEPS=+960.0% | GrowthRev=+9.7%
EPS next Year (2027-12-31): EPS=0.90 | Chg30d=-15.09% | Revisions=+0% | GrowthEPS=+109.3% | GrowthRev=+13.6%
[Analyst] Revisions Ratio: -18% (up=3, down=5)