Marcus & Millichap, Inc. (MMI)
NYSEReal EstateReal Estate - ServicesSnapshot 2026-09-04
$31.89-0.69%
Close 2026-09-04 · 1-day change
NYSEReal EstateReal Estate - ServicesSnapshot 2026-09-04
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 | 126.1% |
| Our one-year growth estimate | diamond | 11.2% |
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
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-09-04.
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 114.9 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Worth watching into the next print: this name has erratic recent earnings surprises and its industry peers have been missing lately. A fundamental tilt, not a price call.
Model as of 2026-09-04 · Compared with 13 industry peers · Company calendar date is not available
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: Growth in the Private Client Market is crucial for MMI's long-term strategy. Increased activity would support this.
Supportive ifPrivate Client Market revenue growth above 15% in the next quarter.
Worry ifPrivate Client Market revenue growth below 10% in the next quarter.
Why it matters: Changes in the PPI can change inflation expectations. This can affect commercial real estate deals.
Watch forPPI shows a significant increase above 0.5% month over month.
Also watch forPPI shows a decrease or increase below 0.1% month over month.
Why it matters: The dividend announcement shows MMI's plan to return money. Regular dividends show financial strength.
Supportive ifA semi-annual dividend of $0.25 per share is declared.
Worry ifNo dividend is announced or the dividend amount is cut.
Why it matters: A lower net loss would indicate progress in overcoming near-term challenges. This could support a positive outlook.
Supportive ifNet loss reported below $2 million for Q2.
Worry ifNet loss remains above $2 million for Q2.
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 | ±$123 on $10,000 · ±1.2% | How much price usually moves either way. |
| Bad day | $292 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 | $2,406 loss on $10,000 · 24.1% | 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: More buybacks show that management believes in the company's future. This can help the share price.
Supportive ifTotal share buybacks exceed $30 million by the end of Q2 2026.
Worry ifShare buybacks remain below $20 million by the end of Q2 2026.
Why it matters: Brokerage commissions growth is key to MMI's revenue. A slowdown may signal market weakness.
Worry ifQ3 brokerage commissions growth below 15% year over year.
Less concerning ifBrokerage commissions growth exceeds 15% year over year.
Why it matters: Higher operating costs can lower profits. Keeping an eye on this shows financial health.
Worry ifOperating expenses increase by more than 10% in Q3 compared to Q2.
Less concerning ifOperating expenses increase by less than 5% in Q3 compared to Q2.
Why it matters: If revenue growth picks up, it could signal a positive change for the real estate sector. This would help MMI's performance.
Supportive ifSector revenue growth returns to levels above previous highs.
Worry ifSector revenue growth continues to decline or stays stagnant.
Why it matters: More share buybacks can show that management believes in the company's value and future.
Supportive ifThe company repurchases more than $20 million in shares during Q3 2026.
Worry ifNo major share buybacks happened in Q3 2026.
Why it matters: A slowdown in revenue growth could signal weakening demand in the commercial real estate market.
Worry ifQ3 total revenue growth prints below 15% compared to Q3 2025.
Less concerning ifQ3 revenue growth exceeds 15% compared to Q3 2025.
Why it matters: High operating costs can hurt profits. It is important to keep costs low.
Worry ifOperating costs are less than 65% of revenue.
Less concerning ifOperating costs are more than 65% of revenue.