Marcus & Millichap Inc - Understand $mmi stock

$MMI Market Cap: $1.544 Billion

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Financial Snapshot

Revenue

$615.7M

TTM

Gross Margin

37.64%

TTM

Net Earnings

-$35.00M

TTM

Current Assets

$344.0M

Q2 2024

Current Liabilities

$93.09M

Q2 2024

Current Ratio

369.56%

Q2 2024

Total Assets

$825.4M

Q2 2024

Total Liabilities

$198.8M

Q2 2024

Book Value

$626.7M

Q2 2024

Cash

$162.0M

Q2 2024

P/E

-44.11

Sep 17, 2024 EST

Free Cash Flow

-$35.96M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$645.9M	$1.302B	$1.296B	$716.9M	$806.4M	$814.8M	$719.7M	$717.5M	$689.1M	$572.2M	$435.9M	$385.7M	$274.7M	$217.9M
YoY Change	-50.38%	0.41%	80.84%	-11.1%	-1.03%	13.22%	0.31%	4.12%	20.42%	31.27%	13.01%	40.41%	26.07%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$645.9M	$1.302B	$1.296B	$716.9M	$806.4M	$814.8M	$719.7M	$717.5M	$689.1M	$572.2M	$435.9M	$385.7M	$274.7M	$217.9M
Cost Of Revenue	$406.6M	$850.9M	$840.2M	$447.9M	$498.9M	$502.9M	$446.6M	$444.8M	$423.4M	$350.1M	$264.6M	$230.2M	$162.5M	$124.3M
Gross Profit	$239.3M	$450.8M	$456.2M	$269.0M	$307.6M	$311.9M	$273.1M	$272.7M	$265.7M	$222.1M	$171.3M	$155.5M	$112.2M	$93.70M
Gross Profit Margin	37.04%	34.63%	35.19%	37.52%	38.14%	38.28%	37.95%	38.01%	38.56%	38.81%	39.29%	40.31%	40.85%	43.0%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Selling, General & Admin	$285.0M	$300.0M	$255.2M	$203.2M	$203.1M	$193.3M	$171.6M	$161.8M	$147.7M	$134.3M	$115.7M	$103.5M	$85.80M	$76.40M
YoY Change	-5.0%	17.58%	25.57%	0.05%	5.04%	12.64%	6.09%	9.53%	10.01%	16.09%	11.77%	20.6%	12.3%
% of Gross Profit	119.12%	66.55%	55.93%	75.54%	66.03%	61.98%	62.84%	59.33%	55.6%	60.46%	67.54%	66.56%	76.45%	81.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$8.900M	$13.41M	$11.72M	$10.90M	$8.000M	$6.300M	$5.400M	$4.400M	$3.300M	$3.200M	$3.000M	$3.000M	$3.000M	$3.300M
YoY Change	-33.61%	14.38%	7.53%	36.25%	26.98%	16.67%	22.73%	33.33%	3.13%	6.67%	0.0%	0.0%	-9.09%
% of Gross Profit	3.72%	2.97%	2.57%	4.05%	2.6%	2.02%	1.98%	1.61%	1.24%	1.44%	1.75%	1.93%	2.67%	3.52%
Operating Expenses	$705.3M	$1.164B	$266.9M	$214.1M	$211.1M	$702.5M	$623.6M	$610.9M	$574.4M	$487.6M	$414.6M	$336.7M	$251.3M	$79.70M
YoY Change	-39.42%	336.28%	24.65%	1.42%	-69.95%	12.66%	2.07%	6.36%	17.81%	17.6%	23.14%	34.01%	215.24%
Operating Profit	-$59.37M	$137.4M	$189.4M	$54.90M	$96.50M	$112.3M	$96.13M	$106.5M	$114.7M	$84.61M	$21.29M	$49.01M	$23.46M	$14.00M
YoY Change	-143.21%	-27.44%	244.91%	-43.11%	-14.06%	16.81%	-9.74%	-7.11%	35.51%	297.47%	-56.57%	108.94%	67.54%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense	$888.0K	$708.0K	-$580.0K	-$900.0K	-$1.400M	$1.400M	$1.496M	$1.533M	$1.726M	$1.651M	$105.0K	$4.000K
YoY Change	25.42%	-222.07%	-35.56%	-35.71%	-200.0%	-6.42%	-2.41%	-11.18%	4.54%	1472.38%	2525.0%
% of Operating Profit		0.52%	-0.31%	-1.64%	-1.45%	1.25%	1.56%	1.44%	1.51%	1.95%	0.49%	0.01%
Other Income/Expense, Net	$19.86M	$5.336M	$4.527M	$6.700M	$12.50M	$6.333M	$4.590M	$2.134M	$443.0K	$28.00K	$760.0K	$437.0K	$350.0K	$1.000M
YoY Change	272.1%	17.87%	-32.43%	-46.4%	97.38%	37.97%	115.09%	381.72%	1482.14%	-96.32%	73.91%	24.86%	-65.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Pretax Income	-$40.40M	$142.0M	$193.3M	$59.40M	$107.5M	$117.2M	$99.23M	$107.1M	$113.4M	$82.98M	$21.94M	$49.44M	$23.81M	$14.90M
YoY Change	-128.45%	-26.53%	225.43%	-44.74%	-8.29%	18.13%	-7.35%	-5.53%	36.62%	278.21%	-55.62%	107.69%	59.77%
Income Tax	-$6.366M	$37.80M	$50.83M	$16.50M	$30.60M	$29.96M	$47.70M	$42.45M	$47.02M	$33.45M	$13.74M	$21.51M	$10.36M	$6.500M
% Of Pretax Income		26.62%	26.3%	27.78%	28.47%	25.56%	48.07%	39.63%	41.47%	40.31%	62.6%	43.5%	43.5%	43.62%
Net Earnings	-$34.04M	$104.2M	$142.5M	$42.80M	$76.90M	$87.26M	$51.52M	$64.66M	$66.35M	$49.53M	$8.206M	$27.93M	$13.45M	$8.400M
YoY Change	-132.66%	-26.84%	232.87%	-44.34%	-11.87%	69.35%	-20.31%	-2.55%	33.96%	503.59%	-70.62%	107.69%	60.12%
Net Earnings / Revenue	-5.27%	8.01%	10.99%	5.97%	9.54%	10.71%	7.16%	9.01%	9.63%	8.66%	1.88%	7.24%	4.9%	3.85%
Basic Earnings Per Share	-$0.88	$2.61	$3.57	$1.08		$2.23	$1.32	$1.66	$1.71	$1.27	$0.24
Diluted Earnings Per Share	-$0.88	$2.59	$3.545M	$1.078M	$1.947M	$2.22	$1.32	$1.66	$1.69	$1.27	$0.24	$781.5K	$378.2K	$235.3K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Cash & Short-Term Investments	$339.6M	$489.3M	$566.0M	$401.4M	$383.4M	$352.1M	$294.3M	$214.8M	$176.0M	$149.2M	$101.0M	$3.100M	$3.200M
YoY Change	-30.59%	-13.55%	41.01%	4.69%	8.89%	19.64%	37.01%	22.05%	17.96%	47.72%	3158.06%	-3.13%
Cash & Equivalents	$170.8M	$235.9M	$382.1M	$243.2M	$232.7M	$214.7M	$220.8M	$187.4M	$96.20M	$149.2M	$101.0M	$3.100M	$3.200M
Short-Term Investments	$168.9M	$253.4M	$183.9M	$158.3M	$150.8M	$137.4M	$73.60M	$27.50M	$79.90M
Other Short-Term Assets	$28.59M	$20.70M	$24.89M	$17.30M	$16.80M	$14.30M	$15.20M	$13.20M	$12.60M	$23.90M	$15.40M	$2.900M	$2.300M
YoY Change	38.13%	-16.85%	43.89%	2.98%	17.48%	-5.92%	15.15%	4.76%	-47.28%	55.19%	431.03%	26.09%
Inventory
Prepaid Expenses
Receivables												$5.800M	$2.200M
Other Receivables												$800.0K	$300.0K
Total Short-Term Assets	$393.7M	$527.1M	$608.1M	$429.1M	$410.2M	$371.3M	$320.4M	$234.0M	$196.1M	$178.5M	$119.8M	$12.60M	$7.900M
YoY Change	-25.32%	-13.32%	41.72%	4.61%	10.48%	15.89%	36.92%	19.33%	9.86%	49.0%	850.79%	59.49%
Property, Plant & Equipment	$117.5M	$115.6M	$104.7M	$107.5M	$113.2M	$19.60M	$17.20M	$16.40M	$11.60M	$7.700M	$8.600M	$6.700M	$5.300M
YoY Change	1.66%	10.38%	-2.59%	-5.04%	477.55%	13.95%	4.88%	41.38%	50.65%	-10.47%	28.36%	26.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$78.30M	$78.15M	$124.1M	$58.10M	$70.30M	$91.50M	$60.90M	$84.80M	$60.10M	$19.10M	$4.100M	$63.30M	$42.90M
YoY Change	0.19%	-37.04%	113.63%	-17.35%	-23.17%	50.25%	-28.18%	41.1%	214.66%	365.85%	-93.52%	47.55%
Other Assets	$237.7M	$227.1M	$160.1M	$132.5M	$93.10M	$68.60M	$61.20M	$58.80M	$53.50M	$28.20M	$34.70M	$6.100M	$7.100M
YoY Change	4.66%	41.85%	20.85%	42.32%	35.71%	12.09%	4.08%	9.91%	89.72%	-18.73%	468.85%	-14.08%
Total Long-Term Assets	$484.7M	$476.6M	$437.1M	$350.0M	$298.8M	$195.1M	$139.3M	$160.0M	$125.1M	$55.10M	$47.50M	$77.10M	$56.40M
YoY Change	1.71%	9.04%	24.88%	17.14%	53.15%	40.06%	-12.94%	27.9%	127.04%	16.0%	-38.39%	36.7%
Total Assets	$878.4M	$1.004B	$1.045B	$779.1M	$709.0M	$566.4M	$459.7M	$394.0M	$321.2M	$233.6M	$167.3M	$89.70M	$64.30M
YoY Change
Accounts Payable	$8.126M	$11.45M	$24.27M	$18.30M	$10.80M	$47.90M	$49.20M	$44.80M	$34.10M	$28.90M	$25.10M	$22.60M	$13.60M
YoY Change	-29.03%	-52.82%	32.63%	69.44%	-77.45%	-2.64%	9.82%	31.38%	17.99%	15.14%	11.06%	66.18%
Accrued Expenses	$37.46M	$55.31M	$68.82M	$40.20M	$40.20M	$28.30M	$23.80M	$22.30M	$30.80M	$27.80M	$16.90M	$17.50M	$9.700M
YoY Change	-32.28%	-19.63%	71.2%	0.0%	42.05%	18.91%	6.73%	-27.6%	10.79%	64.5%	-3.43%	80.41%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due				$0.00	$6.600M	$1.100M	$1.000M	$1.000M	$900.0K	$900.0K	$900.0K
YoY Change				-100.0%	500.0%	10.0%	0.0%	11.11%	0.0%	0.0%
Total Short-Term Liabilities	$105.3M	$152.0M	$225.6M	$120.3M	$101.8M	$92.90M	$83.30M	$78.20M	$75.00M	$67.20M	$56.80M	$54.50M	$30.80M
YoY Change	-30.75%	-32.63%	87.56%	18.17%	9.58%	11.52%	6.52%	4.27%	11.61%	18.31%	4.22%	76.95%
Long-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$6.600M	$7.700M	$8.700M	$9.700M	$10.60M	$11.50M	$0.00	$0.00
YoY Change					-100.0%	-14.29%	-11.49%	-10.31%	-8.49%	-7.83%
Other Long-Term Liabilities	$127.9M	$138.2M	$123.3M	$112.0M	$112.3M	$57.40M	$53.90M	$48.30M	$47.60M	$39.00M	$36.50M	$13.70M	$13.30M
YoY Change	-7.47%	12.1%	10.06%	-0.27%	95.64%	6.49%	11.59%	1.47%	22.05%	6.85%	166.42%	3.01%
Total Long-Term Liabilities	$127.9M	$138.2M	$123.3M	$112.0M	$112.3M	$64.00M	$61.60M	$57.00M	$57.30M	$49.60M	$48.00M	$13.70M	$13.30M
YoY Change	-7.47%	12.1%	10.06%	-0.27%	75.47%	3.9%	8.07%	-0.52%	15.52%	3.33%	250.36%	3.01%
Total Liabilities	$233.1M	$290.2M	$348.9M	$232.3M	$214.1M	$156.8M	$144.8M	$135.2M	$132.2M	$116.8M	$104.8M	$68.10M	$44.10M
YoY Change	-19.66%	-16.82%	50.19%	8.5%	36.54%	8.29%	7.1%	2.27%	13.18%	11.45%	53.89%	54.42%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2018	2017	2016	2015	2014	2013
Basic Shares Outstanding	38.66M shares	39.89M shares	39.89M shares	39.64M shares	39.15M shares	38.99M shares	38.90M shares	38.85M shares	38.85M shares	38.79M shares
Diluted Shares Outstanding	38.66M shares	40.19M shares	40.19M shares	39.74M shares	39.38M shares	39.10M shares	39.04M shares	39.16M shares	38.98M shares	38.82M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $1.5438 Billion

About Marcus & Millichap Inc

Marcus & Millichap, Inc. engages in the provision of investment real estate brokerage services. The company is headquartered in Calabasas, California and currently employs 896 full-time employees. The company went IPO on 2013-10-31. The firm is specialized in commercial real estate investment sales, financing services, research, and advisory services. The firm also offers market research, consulting, and advisory services to its clients. The firm offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The firm divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The firm serves clients with one property, multiple properties, and large investment portfolios. The Company’s investment brokerage and financing professionals serve private clients within the private client market segment.

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