Marcus & Millichap, Inc. (MMI)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Marcus & Millichap, Inc. (MMI) trades at $31.96 with AI Score 69/100 (Grade B+). Marcus & Millichap, Inc. Market cap: $1.21B, Sector: Real estate.
Price live · AI analysis from May 10, 2026Analyst Coverage for MMI: MMI does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates MMI against Real Estate peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
MMI: 1/1 perspectives are bullish.
How is this calculated? →Marcus & Millichap, Inc. (MMI) Real Estate Portfolio & Strategy
Marcus & Millichap, founded in 1971, provides commercial real estate investment brokerage and financing services. Operating in the United States and Canada, the company focuses on diverse property types, offering research and advisory services. With a wide range of clients, MMI facilitates transactions and provides capital market solutions.
What Is the Investment Thesis for MMI?
Marcus & Millichap's investment thesis rests on its established position in the commercial real estate brokerage and financing services sector. The company's extensive network and expertise in diverse property types, including multifamily, retail, and industrial, provide a solid foundation for revenue generation. A key value driver is the company's ability to capitalize on market trends and fluctuations in the commercial real estate sector. With a dividend yield of 1.64%, MMI offers a potential income stream for investors. However, the company's negative profit margin of -0.1% warrants careful consideration. Upcoming catalysts include potential expansions into new geographic markets and the introduction of innovative financing products. Potential risks include economic downturns that could negatively impact commercial real estate values and transaction volumes.
Based on FMP financials and quantitative analysis
MMI Key Highlights
- Market capitalization of $1.21B indicates substantial investor interest and company size within the real estate services sector.
- Gross margin of 34.9% reflects the company's ability to manage costs associated with its brokerage and financing services.
- Dividend yield of 1.64% provides a potential income stream for investors, making the stock attractive to income-seeking individuals.
- Beta of 1.32 suggests that the stock is more volatile than the overall market, indicating higher potential risk and reward.
- Operating across the United States and Canada provides geographical diversification and access to multiple commercial real estate markets.
Who Are MMI's Competitors?
MMI is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CBRE CBRE Group, Inc. | $141.76 | +0.13% | $41.51B | 74 |
| JLL Jones Lang LaSalle Incorporated (JLL) | $328.99 | +0.47% | $15.26B | 96 |
| CIGI Colliers International Group Inc. | $98.73 | +0.22% | $4.91B | 50 |
| OMH Ohmyhome Limited operates an online property platform in Singapore, Malaysia, and the Philippines, offering real estate brokerage services. The company | $0.50 | -0.82% | $11.48M | 68 |
| CRSS Crossroads Impact Corp. | $7.00 | +0.00% | $74.33M | 66 |
| SDWHF Soundwill Holdings Limited | $0.87 | -0.01% | $246.92M | 64 |
| NTPIF Nam Tai Property Inc. | $4.75 | +0.00% | $289.75M | 64 |
| NTP Nam Tai Property Inc. | $4.21 | +0.00% | 62 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are MMI's Key Strengths?
- Established brand reputation.
- Extensive network of real estate professionals.
- Diverse property type expertise.
- Integrated service offerings.
What Are MMI's Weaknesses?
- Sensitivity to economic cycles.
- Dependence on transaction volume.
- Negative profit margin.
- Exposure to interest rate fluctuations.
What Could Drive MMI Stock Higher?
- Potential expansion into new geographic markets to increase transaction volume.
- Investments in technology and digital solutions to enhance service offerings.
- Strategic partnerships with complementary businesses to expand service offerings.
- Focus on specialized property types to differentiate from competitors.
What Are the Key Risks for MMI?
- Negative return on equity (-0.1%) — the business is not currently generating profit on shareholder capital.
- Economic downturns that could negatively impact commercial real estate values.
- Increased competition from other brokerage firms.
- Rising interest rates that could reduce demand for commercial real estate.
- Changes in government regulations that could affect the real estate industry.
What Are the Growth Opportunities for MMI?
- Expansion into Underserved Markets: Marcus & Millichap can pursue growth by expanding its presence in underserved geographic markets within the United States and Canada. Identifying regions with growing commercial real estate activity and limited competition can provide a first-mover advantage. This expansion could increase transaction volume and market share, contributing to revenue growth. The timeline for this expansion is ongoing, with continuous assessment of market opportunities.
- Technology Integration and Digital Solutions: Investing in technology to enhance its service offerings can drive growth for Marcus & Millichap. Developing digital platforms for property search, analysis, and transaction management can attract tech-savvy clients and improve operational efficiency. This includes AI-driven market analysis and virtual property tours. The market for real estate technology is expanding rapidly, with an expected growth rate of 10% annually. The timeline for this initiative is 2-3 years.
- Strategic Partnerships and Alliances: Forming strategic partnerships with complementary businesses, such as property management firms, construction companies, and legal service providers, can create synergistic growth opportunities. These partnerships can expand Marcus & Millichap's service offerings and provide access to a broader client base. The timeline for establishing strategic partnerships is ongoing, with continuous exploration of potential alliances.
- Focus on Specialized Property Types: Focusing on niche property types, such as data centers, life sciences facilities, and renewable energy projects, can differentiate Marcus & Millichap from its competitors. These specialized markets often offer higher margins and less competition. Developing expertise in these areas can attract institutional investors and developers seeking specialized brokerage and financing services. The timeline for this specialization is 3-5 years.
- Enhancing Advisory and Consulting Services: Expanding its advisory and consulting services can generate additional revenue streams for Marcus & Millichap. Providing market research, feasibility studies, and investment strategies to developers, lenders, and investors can establish the company as a trusted advisor. This includes offering sustainability consulting services to align with ESG trends. The timeline for enhancing advisory services is ongoing, with continuous development of new service offerings.
What Opportunities Does MMI Have?
- Expansion into underserved markets.
- Technology integration and digital solutions.
- Strategic partnerships and alliances.
- Focus on specialized property types.
What Threats Does MMI Face?
- Economic downturns.
- Increased competition.
- Rising interest rates.
- Changes in government regulations.
What Are MMI's Competitive Advantages?
- Extensive network of real estate professionals.
- Established brand reputation in the commercial real estate industry.
- Expertise in diverse property types.
- Integrated service offerings, including brokerage, financing, and advisory services.
What Does MMI Do?
Founded in 1971, Marcus & Millichap, Inc. has grown to become a prominent investment brokerage firm specializing in commercial real estate. The company's core business revolves around providing real estate investment brokerage and financing services to both sellers and buyers of commercial properties throughout the United States and Canada. Marcus & Millichap offers a comprehensive suite of services, including investment sales, financing, research, and advisory solutions tailored to various commercial property types. These include multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing. Beyond traditional brokerage, Marcus & Millichap operates as a financial intermediary, delivering commercial real estate capital markets solutions. These solutions encompass senior debt, mezzanine debt, joint venture arrangements, and preferred equity options. The company also provides loan sales and consultative due diligence services to commercial real estate owners, developers, investors, and capital providers. Furthermore, Marcus & Millichap extends its expertise through ancillary services such as research, advisory, and consulting, catering to developers, lenders, owners, REITs, high-net-worth individuals, pension fund advisors, and other institutions. Headquartered in Calabasas, California, Marcus & Millichap leverages its extensive network and market knowledge to facilitate commercial real estate transactions and provide valuable insights to its clients.
What Products and Services Does MMI Offer?
- Provides commercial real estate investment sales services.
- Offers financing solutions for commercial real estate transactions.
- Conducts market research and analysis for commercial properties.
- Provides advisory and consulting services to real estate investors and developers.
- Facilitates transactions for various property types, including multifamily, retail, and office.
- Connects buyers and sellers of commercial real estate assets.
- Offers capital markets solutions, including debt and equity financing.
How Does MMI Make Money?
- Generates revenue through brokerage commissions on commercial real estate transactions.
- Earns fees from providing financing and capital markets solutions.
- Receives income from advisory and consulting services.
- Utilizes a network of real estate professionals to facilitate transactions.
What Industry Does MMI Operate In?
Marcus & Millichap operates within the real estate services industry, which is influenced by macroeconomic factors, interest rates, and commercial real estate market cycles. The industry is characterized by intense competition among national and regional brokerage firms. Market trends include increasing demand for data-driven insights and specialized services. Marcus & Millichap differentiates itself through its extensive network, diverse property type expertise, and integrated service offerings. The global real estate market is projected to reach trillions of dollars in the coming years, presenting significant opportunities for companies like MMI.
Who Are MMI's Key Customers?
- Commercial real estate investors.
- Real estate developers.
- High-net-worth individuals.
- Pension fund advisors.
- Real estate investment trusts (REITs).
FY2026 estForward Outlook
Wall Street analysts project Marcus & Millichap, Inc. revenue of about $849.6M for fiscal 2026, with EPS near $0.45.
ROE -0%Key Financial Metrics
Return on equity for Marcus & Millichap, Inc. stands at -0.1%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -0.1%, showing how much profit it generates from its asset base. Its free cash flow yield is 6.8%, a gauge of the cash the business throws off relative to its market value. A current ratio of 2.65 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -0.0%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 5/9Financial Health
Marcus & Millichap, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 5.93 places it in the safe zone, indicating low near-term bankruptcy risk.
MMI Valuation & Market Position
With a $1.21B market cap, Marcus & Millichap, Inc. sits in the small-cap segment of the market. Relative to its peer group, MMI's quantitative score of 69/100 is roughly in line with the peer average of 71/100.
MMI Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- MMI's recent insider buying suggests confidence from those closest to the company, a potentially strong signal.
- The community's bullish sentiment indicates positive market perception and potential upward momentum.
- Market developments suggest increased demand for commercial real estate services, favoring MMI's business model.
- Positive community views on MMI's strategic direction hint at long-term growth potential.
Bear Case
- Recent insider selling, if any, could signal concerns about the company's short-term prospects.
- Bearish community sentiment suggests skepticism about MMI's ability to navigate current market conditions.
- Market perception of increased interest rates might negatively impact commercial real estate transactions, affecting MMI.
- Community concerns about potential economic slowdown could reduce demand for MMI's services.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
MMI Latest News
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Marcus & Millichap Adds Brown & Brown to Preferred Partner Program
MT Newswires · Jun 18, 2026
MMI Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for MMI.
Price Targets
Wall Street price target analysis for MMI.
MMI MoonshotScore
What does this score mean?
The MoonshotScore rates MMI's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Hessam Nadji
President and Chief Executive Officer
Hessam Nadji has served as President and Chief Executive Officer of Marcus & Millichap since 2016. He joined the company in 1996 and has held various leadership positions, including Senior Vice President and Regional Manager. Nadji has extensive experience in commercial real estate brokerage and management. He is a frequent speaker at industry events and a thought leader on real estate trends.
Track Record: Under Hessam Nadji's leadership, Marcus & Millichap has expanded its service offerings and geographic reach. He has overseen the company's investments in technology and data analytics to enhance its competitive advantage. Nadji has also focused on building a strong corporate culture and attracting top talent to the organization. He successfully navigated the company through various economic cycles.
What Investors Ask About Marcus & Millichap, Inc. (MMI) — Real Estate
What does Marcus & Millichap, Inc. do?
Marcus & Millichap, Inc. is a leading commercial real estate brokerage firm that facilitates investment sales, financing, research, and advisory services. The company connects buyers and sellers of commercial properties across the United States and Canada. Its services cater to a diverse range of property types, including multifamily, retail, office, and industrial assets. The company operates as an intermediary, providing capital market solutions and ancillary services to developers, lenders, and investors.
What do analysts say about MMI stock?
Analyst ratings on MMI stock reflect a neutral to cautiously optimistic outlook. Key valuation metrics include the company's market capitalization, gross margin, and dividend yield. Growth considerations center on the company's ability to capitalize on market trends, expand its service offerings, and manage its expenses. However, the company's negative profit margin warrants careful monitoring. Analyst consensus suggests that MMI's long-term success depends on its ability to navigate economic cycles and maintain its competitive advantage.
What are the main risks for MMI?
The main risks for Marcus & Millichap include economic downturns, increased competition, and rising interest rates. Economic downturns can reduce commercial real estate values and transaction volumes, negatively impacting the company's revenue. Increased competition from other brokerage firms can erode market share and pressure margins. Rising interest rates can reduce demand for commercial real estate, affecting transaction activity. Additionally, changes in government regulations and unforeseen events can pose risks to the company's operations.
What are the key factors to evaluate for MMI?
Marcus & Millichap, Inc. (MMI) holds an AI score of 69/100 (moderate). Not financial advice.
How frequently does MMI data refresh on this page?
MMI prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven MMI's recent stock price performance?
Marcus & Millichap, Inc. (MMI) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Established brand reputation. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider MMI overvalued or undervalued right now?
Valuing Marcus & Millichap, Inc. (MMI) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying MMI?
Before investing in Marcus & Millichap, Inc. (MMI), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Financial metrics are as of the latest reporting period.