$MMI
Marcus & Millichap, Inc.

2014 Q4 Form 10-Q Financial Statement

#000119312514404925 Filed on November 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $172.4M $150.9M $112.0M
YoY Change 15.66% 34.78% 22.72%
Cost Of Revenue $109.8M $92.27M $67.72M
YoY Change 16.55% 36.25% 24.95%
Gross Profit $62.61M $58.62M $44.24M
YoY Change 14.13% 32.52% 19.44%
Gross Profit Margin 36.31% 38.85% 39.51%
Selling, General & Admin $34.70M $34.09M $30.86M
YoY Change -44.21% 10.44% 23.42%
% of Gross Profit 55.42% 58.15% 69.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $800.0K
YoY Change 14.29% 0.0% 14.29%
% of Gross Profit 1.28% 1.36% 1.81%
Operating Expenses $35.50M $127.2M $99.33M
YoY Change -43.74% 28.03% 24.26%
Operating Profit $27.10M $23.72M $12.63M
YoY Change -431.87% 87.89% 11.78%
Interest Expense -$400.0K $397.0K
YoY Change
% of Operating Profit -1.48% 1.67%
Other Income/Expense, Net $100.0K -$308.0K $247.0K
YoY Change -50.0% -224.7% 502.44%
Pretax Income $26.70M $23.02M $12.87M
YoY Change -433.75% 78.81% 13.55%
Income Tax $10.30M $9.493M $5.597M
% Of Pretax Income 38.58% 41.25% 43.48%
Net Earnings $16.43M $13.52M $7.275M
YoY Change 77.6% 85.88% 13.58%
Net Earnings / Revenue 9.53% 8.96% 6.5%
Basic Earnings Per Share $0.42 $0.35
Diluted Earnings Per Share $0.42 $0.35 $199.5K
COMMON SHARES
Basic Shares Outstanding 36.62M shares 38.85M shares
Diluted Shares Outstanding 39.01M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.2M $134.0M $28.70M
YoY Change 47.72% 366.9%
Cash & Equivalents $149.2M $134.0M $28.68M
Short-Term Investments
Other Short-Term Assets $3.055M $14.90M $6.800M
YoY Change 25.77% 119.12%
Inventory
Prepaid Expenses $7.536M
Receivables $5.700M $4.300M
Other Receivables $200.0K $200.0K
Total Short-Term Assets $164.9M $154.8M $39.91M
YoY Change 37.59% 287.83%
LONG-TERM ASSETS
Property, Plant & Equipment $7.693M $7.829M $8.476M
YoY Change -10.13% -7.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.10M $4.200M $3.800M
YoY Change 365.85% 10.53%
Other Assets $3.444M $4.143M $3.431M
YoY Change 38.98% 20.75%
Total Long-Term Assets $68.73M $45.43M $20.88M
YoY Change 44.76% 117.62%
TOTAL ASSETS
Total Short-Term Assets $164.9M $154.8M $39.91M
Total Long-Term Assets $68.73M $45.43M $20.88M
Total Assets $233.6M $200.2M $60.79M
YoY Change 39.62% 229.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.90M $17.20M $12.10M
YoY Change 15.14% 42.15%
Accrued Expenses $27.80M $21.90M $10.20M
YoY Change 64.5% 114.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $900.0K $900.0K
YoY Change 0.0%
Total Short-Term Liabilities $67.20M $54.78M $42.67M
YoY Change 18.4% 28.38%
LONG-TERM LIABILITIES
Long-Term Debt $10.60M $10.60M $0.00
YoY Change -7.83%
Other Long-Term Liabilities $2.400M $2.473M $5.007M
YoY Change -45.09% -50.61%
Total Long-Term Liabilities $2.400M $2.473M $5.007M
YoY Change -45.09% -50.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.20M $54.78M $42.67M
Total Long-Term Liabilities $2.400M $2.473M $5.007M
Total Liabilities $116.8M $100.4M $57.10M
YoY Change 11.43% 75.89%
SHAREHOLDERS EQUITY
Retained Earnings $41.59M $25.16M $777.0K
YoY Change -623.89% 3138.35%
Common Stock $75.06M $4.000K $235.0K
YoY Change 1876450.0% -98.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $116.8M $99.78M $3.684M
YoY Change
Total Liabilities & Shareholders Equity $233.6M $200.2M $60.79M
YoY Change 39.62% 229.38%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $16.43M $13.52M $7.275M
YoY Change 77.6% 85.88% 13.58%
Depreciation, Depletion And Amortization $800.0K $800.0K $800.0K
YoY Change 14.29% 0.0% 14.29%
Cash From Operating Activities $36.50M $29.10M $17.80M
YoY Change 4.89% 63.48% 85.42%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$500.0K -$1.300M
YoY Change -27.27% -61.54% 44.44%
Acquisitions
YoY Change
Other Investing Activities -$14.70M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$15.40M -$500.0K -$1.300M
YoY Change 1300.0% -61.54% 30.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.000M 900.0K -7.200M
YoY Change -115.58% -112.5% -5.26%
NET CHANGE
Cash From Operating Activities 36.50M 29.10M 17.80M
Cash From Investing Activities -15.40M -500.0K -1.300M
Cash From Financing Activities -6.000M 900.0K -7.200M
Net Change In Cash 15.10M 29.50M 9.300M
YoY Change -79.09% 217.2% 830.0%
FREE CASH FLOW
Cash From Operating Activities $36.50M $29.10M $17.80M
Capital Expenditures -$800.0K -$500.0K -$1.300M
Free Cash Flow $37.30M $29.60M $19.10M
YoY Change 3.9% 54.97% 81.9%

Facts In Submission

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dei Document Type
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10-Q
dei Entity Registrant Name
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Marcus & Millichap, Inc.
dei Trading Symbol
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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dei Document Period End Date
DocumentPeriodEndDate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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DocumentFiscalYearFocus
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us-gaap Line Of Credit Facility Interest Rate Description
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dei Document Fiscal Period Focus
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
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us-gaap Prior Period Reclassification Adjustment Description
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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mmi Number Of Wholly Owned Subsidiaries
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mmi Swap Termination Date
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2013-06-30
mmi Stock Appreciation Rights Liability Interest Accrual Commencement Date
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2014-01-01
mmi Line Of Credit Libor Rate Duration Period
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mmi Deferred Compensation And Commissions Increase Decrease
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2013-10-30
mmi Real Estate Brokerage Commissions
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mmi Stock Appreciation Rights Liability Frozen Value Date
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2014-06-18
mmi Maximum Funded Debt To Ebitda Ratio
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mmi Tax Benefit Related To Deductible Ipo Transaction Costs
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