Marcus & Millichap, Inc. (MMI)
NYSEReal EstateReal Estate - ServicesSnapshot 2026-11-04
$29.55+4.05%
Close 2026-11-04 · 1-day change
NYSEReal EstateReal Estate - ServicesSnapshot 2026-11-04
QuarterlyIQ Insights · MMI
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 134.7% |
| Our one-year growth estimate | diamond | 11.0% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Usually moved in the opposite direction.
Price observations: 365 days
Most sensitive to the broad stock market and real (inflation-adjusted) rates.
Based on historical daily prices through 2026-11-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 123.7 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-04 · Compared with 5 industry peers
MMI — earnings in line
Dated 2026-05-07
Results of Operations and Financial Condition. On May 7, 2026, Marcus & Millichap, Inc. (the “ Company ”) issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. The information furnished on this Form 8-K, including the attached exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as am…
Why it matters: Private Client revenue rose 13.6% in Q2. Management sees this market as a key source of growth and share gains.
Supportive ifQ3 Private Client brokerage revenue grows at least 13% year over year.
Worry ifQ3 Private Client brokerage revenue is flat or lower year over year.
Why it matters: Management said wider buyer-seller price gaps and rate swings may weigh on deals through 2026. Q3 sales volume can test that view.
Watch forQ3 total sales volume rises from a year ago. Management reports smaller gaps between buyer and seller prices.
Also watch forQ3 total sales volume falls from a year ago. Management reports larger gaps between buyer and seller prices.
Why it matters: Financing fees rose 15.3% in Q2 as loan volume and fee rates increased. A drop would point to weaker lending activity or fees.
Supportive ifQ3 financing fees grow at least 15% year over year.
Worry ifQ3 financing fees fall year over year.
Why it matters: Higher commissions lifted this cost to 62.4% of revenue in Q2. A further rise could limit gains from higher sales.
Worry ifQ3 cost of services is above 63% of revenue.
Less concerning ifQ3 cost of services is at or below 62.4% of revenue.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$113 on $10,000 · ±1.1% | How much price usually moves either way. |
| Bad day | $286 loss on $10,000 · 2.9% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $1,935 loss on $10,000 · 19.4% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: MMI returned to a small profit in Q2 after a loss in Q1. Positive results would show the revenue rebound is reaching the bottom line.
Supportive ifQ3 2026 net income is above zero.
Worry ifQ3 2026 net income is below zero.
Why it matters: Revenue rose 17.8% in Q2, but management says market hurdles may last through 2026. Another strong quarter would show that recovery is continuing.
Supportive ifQ3 2026 revenue grows more than 15% year over year, above Q2's 17.8% pace.
Worry ifQ3 2026 revenue grows less than 8.5% year over year, below full-year 2025 growth.