Marcus & Millichap, Inc. (MMI) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Marcus & Millichap, Inc. Do?
Marcus & Millichap, Inc., an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing. It also operates as a financial intermediary that provides commercial real estate capital markets solutions, including senior debt, mezzanine debt, joint venture, and preferred equity, as well as loan sales and consultative/due diligence services to commercial real estate owners, developers, investors, and capital providers. In addition, the company provides various ancillary services, including research, advisory, and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. was founded in 1971 and is headquartered in Calabasas, California. Marcus & Millichap, Inc. (MMI) is classified as a small-cap stock in the Real Estate sector. The company is led by CEO Hessam Nadji and employs approximately 890 people, headquartered in Dover, California. With a market capitalization of $997M, MMI is one of the notable companies in the Real Estate sector.
Marcus & Millichap, Inc. (MMI) Stock Rating — Hold (April 2026)
As of April 2026, Marcus & Millichap, Inc. receives a Hold rating with a composite score of 41.2/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.MMI ranks #1,508 out of 4,446 stocks in our coverage universe. Within the Real Estate sector, Marcus & Millichap, Inc. ranks #16 of 57 stocks, placing it in the upper half of its Real Estate peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
MMI Stock Price and 52-Week Range
Marcus & Millichap, Inc. (MMI) currently trades at $26.20. The stock lost $0.23 (0.9%) in the most recent trading session. The 52-week high for MMI is $36.70, which means the stock is currently trading -28.6% from its annual peak. The 52-week low is $24.43, putting the stock 7.2% above its annual trough. Recent trading volume was 157K shares, suggesting relatively thin trading activity.
Is MMI Overvalued or Undervalued? — Valuation Analysis
Marcus & Millichap, Inc. (MMI) carries a value factor score of 35/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The trailing price-to-earnings ratio is 2611.00x, compared to the Real Estate sector average of 32.31x — a premium of 7980%. The price-to-book ratio stands at 1.66x, versus the sector average of 1.18x. The price-to-sales ratio is 1.47x, compared to 0.80x for the average Real Estate stock. On an enterprise value basis, MMI trades at 675.84x EV/EBITDA, versus 8.62x for the sector.
At current multiples, Marcus & Millichap, Inc. trades at a premium to most Real Estate peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.
Marcus & Millichap, Inc. Profitability — ROE, Margins, and Quality Score
Marcus & Millichap, Inc. (MMI) earns a quality factor score of 54/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is -3.4%, compared to the Real Estate sector average of 1.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -2.5% versus the sector average of 0.8%.
On a margin basis, Marcus & Millichap, Inc. reports gross margins of 0.0%, compared to 26.0% for the sector. The operating margin is -6.4% (sector: 3.7%). Net profit margin stands at -3.1%, versus 1.8% for the average Real Estate stock. Revenue growth is running at 22.6% on a trailing basis, compared to 6.1% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
MMI Debt, Balance Sheet, and Financial Health
Marcus & Millichap, Inc. has a debt-to-equity ratio of 37.0%, compared to the Real Estate sector average of 60.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 2.55x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $117M.
MMI has a beta of 0.78, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Marcus & Millichap, Inc. is 74/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
Marcus & Millichap, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Marcus & Millichap, Inc. reported revenue of $680M and earnings per share (EPS) of $-0.05. Net income for the quarter was $-21M. Gross margin was 0.0%. Operating income came in at $-41M.
In FY 2025, Marcus & Millichap, Inc. reported revenue of $755M and earnings per share (EPS) of $-0.05. Net income for the quarter was $-2M. Revenue grew 8.5% year-over-year compared to FY 2024. Operating income came in at $-14M.
In Q3 2025, Marcus & Millichap, Inc. reported revenue of $194M and earnings per share (EPS) of $0.01. Net income for the quarter was $240,000. Revenue grew 15.1% year-over-year compared to Q3 2024. Operating income came in at $-2M.
In Q2 2025, Marcus & Millichap, Inc. reported revenue of $172M and earnings per share (EPS) of $-0.28. Net income for the quarter was $-11M. Revenue grew 8.9% year-over-year compared to Q2 2024. Operating income came in at $-9M.
Over the past 8 quarters, Marcus & Millichap, Inc. has demonstrated a growth trajectory, with revenue expanding from $158M to $680M. Investors analyzing MMI stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
MMI Dividend Yield and Income Analysis
Marcus & Millichap, Inc. (MMI) currently pays a dividend yield of 1.7%. At this yield, a $10,000 investment in MMI stock would generate approximately $$170.00 in annual dividend income.
MMI Momentum and Technical Analysis Profile
Marcus & Millichap, Inc. (MMI) has a momentum factor score of 30/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 25/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
MMI vs Competitors — Real Estate Sector Ranking and Peer Comparison
Within the Real Estate sector, Marcus & Millichap, Inc. (MMI) ranks #16 out of 57 stocks based on the Blank Capital composite score. This places MMI in the upper half of all Real Estate stocks in our coverage universe. Key competitors and sector peers include Urban Edge Properties (UE) with a score of 51.9/100, Kennedy-Wilson Holdings, Inc. (KW) with a score of 48.0/100, AMREP CORP. (AXR) with a score of 49.0/100, GETTY REALTY CORP /MD/ (GTY) with a score of 53.1/100, and Curbline Properties Corp. (CURB) with a score of 50.5/100.
Comparing MMI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MMI vs S&P 500 (SPY) comparison to assess how Marcus & Millichap, Inc. stacks up against the broader market across all factor dimensions.
MMI Next Earnings Date
No upcoming earnings date has been announced for Marcus & Millichap, Inc. (MMI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy MMI? — Investment Thesis Summary
Marcus & Millichap, Inc. presents a balanced picture with arguments on both sides. The value score of 35/100 indicates premium valuation. Momentum is weak at 30/100, a headwind for near-term performance. Low volatility (stability score 74/100) reduces downside risk.
In summary, Marcus & Millichap, Inc. (MMI) earns a Hold rating with a composite score of 41.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MMI stock.
Related Resources for MMI Investors
Explore more research and tools: MMI vs S&P 500 comparison, top Real Estate stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MMI head-to-head with peers: MMI vs UE, MMI vs KW, MMI vs AXR.