# Marcus & Millichap share price today (Marcus & Millichap, Inc., MMI)

> Marcus & Millichap, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. MMI · Real Estate · Real Estate Services · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/mmi

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## Key numbers

- Price: $28.40 (−2.8% in a year)
- P/E: 76.6×, too little history to compare yet
- Revenue (Jun 2026): $203 M (+17.8% on a year ago)
- Profit (Jun 2026): $3.9 M
- Operating margin: 1.1% (+6.4 points on a year ago)
- ROE: 0%, FY25
- ROIC: 1.3%, against a 10.4% cost of capital: −9.1 points
- Profit that came in as cash: 109%, last 2 years

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Marcus & Millichap share price today? Marcus & Millichap, Inc.'s share price was $28.40 at the close on 3 November 2026. That is 1.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between $25 and $33, and at that close it sat 42% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 7 weeks running. Over the last 1 year the share price moved −10% while the S&P 500 moved +21%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 18 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Marcus & Millichap pay? Marcus & Millichap, Inc. paid $1.00 per share over the last four reported quarters. The most recent declaration was $0.25 for Mar 2026. At today's price of $28.40 that is a yield of 3.52%, based on dividends already paid, not a forecast. ## Which stock lists is Marcus & Millichap on? Marcus & Millichap is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Marcus & Millichap profitable? Marcus & Millichap, Inc. earned $3.9 M of net profit in the Jun 2026 quarter. The full FY25 year was a loss of $1.9 M. That is 1.9% of the quarter's revenue. The same quarter a year earlier lost $11.0 M. 8 of the last 12 reported quarters were loss-making. ## How much revenue does Marcus & Millichap make, and is it growing? Marcus & Millichap, Inc. reported $203 M of revenue in the Jun 2026 quarter, +17.8% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 4 years it has grown −12.6% a year on average. The last full year, FY25, came in at $755 M. The last four reported quarters add to $812 M. FY25 revenue was $755 M, +8.5% on the year before. Recent pace: the last four quarters grew +13.2% on average, against −12.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +11.9%, against +14.9% a year over the last 8 quarters (stabilising). ## How much of every $100 of sales does Marcus & Millichap keep? Marcus & Millichap, Inc.'s operating margin was 1.1% in the Jun 2026 quarter, 6.4 percentage points higher than the same quarter a year ago. Across 5 years it has been between −9.2% and 14.6%. The latest quarter is within that range. Why the margin moved: operating margin changed +6.4 percentage points on the year while gross margin changed −0.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Marcus & Millichap's profit turning into cash? Over the last 2 years, 109% of Marcus & Millichap, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $66.7 M of operating cash against −$1.9 M of profit. After $7.9 M of spending on assets, $58.8 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Marcus & Millichap's cash go? Marcus & Millichap, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $25.1 M on assets over the last 3 years. Averaged over those years that is 1.1% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $25.1 M over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Marcus & Millichap's P/E ratio, and how does it compare with its own history? Marcus & Millichap, Inc.'s P/E is 76.6×, with too little history to compare. Its usual P/E (the middle reading) is 83.8×, over 4 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the Marcus & Millichap business getting better or worse? Marcus & Millichap, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Marcus & Millichap earn on its capital? Marcus & Millichap, Inc. earned a ROE of 0% in FY25. That is up from a low of −5% in FY23. Its return on capital used (ROIC) is 9.1 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −0.3% net margin and 0.91× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −0.3% net margin × 0.91× asset turnover × 1.37× leverage (assets divided by equity) ≈ −0.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 1.3% − 10.4% = −9.1 percentage points. The 10.4% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Marcus & Millichap have too much debt? Marcus & Millichap, Inc. has total debt of $74.2 M against shareholder equity of $579 M as of Jun 2026, so its debt is 0.13× its equity, which is very little. Year by year, that ratio went from 0.11 in FY21 to 0.13 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the Marcus & Millichap shareholding pattern? 3.8% of Marcus & Millichap, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 4.7 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Marcus & Millichap from balance-sheet trouble? For Marcus & Millichap, Inc., the Z-score is 5.65. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 5.65 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Marcus & Millichap rank in its industry? 51.3 out of 100, rank 7 of 27 in Real Estate Services, with 64% of the evidence available. Marcus & Millichap, Inc. scores 51.3 out of 100 against the 27 companies it is compared with in Real Estate Services, ranking 7. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 22.4 + 8.1 + 8.9 + 11.9 = 51.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Marcus & Millichap compared with? Marcus & Millichap ranks 7 of 27 Real Estate Services companies on the 4-Factor Sector Score, with 51.3 out of 100. 1. Comstock Holding Companies, Inc. CHCI · breaking out · Sector-leading setup · 81% evidence 81.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Revenue 37.5% · Profit 66.7% · Operating margin change 15.7 points · 83% evidence Capital efficiency 20.0/25 · ROCE 19.2% · Operating margin 29.4% · 76% evidence Valuation 15.9/20 · P/E 6.6× · PEG 0.12 · 65% evidence Relative strength 19.6/20 · Lead over its industry 31.6% · Lead over S&P 500 19.1% · 1 year 23.1% · 100% evidence · 11 of 12 weeks ahead Exact sum: 25.8 + 20 + 15.9 + 19.6 = 81.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Jones Lang LaSalle Incorporated](https://www.sectoralpha.in/us/stocks/jll) JLL · turning · Most evidence points up · 81% evidence 73.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.4/35 · Revenue 11.2% · Profit 77.6% · Operating margin change 1.1 points · 83% evidence Capital efficiency 15.8/25 · ROCE 12.8% · Operating margin 4.6% · 76% evidence Valuation 15.1/20 · P/E 14.4× · PEG 0.44 · 65% evidence Relative strength 17.6/20 · Lead over its industry 22.2% · Lead over S&P 500 9.2% · 1 year 25% · 100% evidence · 6 of 12 weeks ahead Exact sum: 25.4 + 15.8 + 15.1 + 17.6 = 73.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [IHS Holding Limited](https://www.sectoralpha.in/us/stocks/ihs) IHS · turning · Too little evidence to rank firmly · 56% evidence 62.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.4/35 · Revenue n/a · Profit n/a · Operating margin change -17.6 points · 39% evidence Capital efficiency 18.9/25 · ROCE 22.6% · Operating margin 20.5% · 76% evidence Valuation 10.4/20 · P/E 14.8× · PEG n/a · 15% evidence Relative strength 15.3/20 · Lead over its industry 11.2% · Lead over S&P 500 -0.1% · 1 year 27.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 17.4 + 18.9 + 10.4 + 15.3 = 62 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Transcontinental Realty Investors, Inc.](https://www.sectoralpha.in/us/stocks/tci) TCI · breaking out · Too little evidence to rank firmly · 55% evidence 57.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.4/35 · Revenue 4.2% · Profit 14.3% · Operating margin change -11.4 points · 40% evidence Capital efficiency 11.1/25 · ROCE n/a · Operating margin -18.2% · 30% evidence Valuation 12.9/20 · P/E 32.2× · PEG 0.52 · 65% evidence Relative strength 18.7/20 · Lead over its industry 21.6% · Lead over S&P 500 8.2% · 1 year 6.6% · 100% evidence · 3 of 12 weeks ahead Exact sum: 14.4 + 11.1 + 12.9 + 18.7 = 57.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [The RMR Group Inc.](https://www.sectoralpha.in/us/stocks/rmr) RMR · basing · Evidence leans up · 81% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.0/35 · Revenue 13.8% · Profit 0% · Operating margin change -6.5 points · 83% evidence Capital efficiency 17.7/25 · ROCE 11.4% · Operating margin 20.6% · 76% evidence Valuation 13.9/20 · P/E 18.3× · PEG 0.48 · 65% evidence Relative strength 6.2/20 · Lead over its industry -0.9% · Lead over S&P 500 -10.8% · 1 year 4.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 18 + 17.7 + 13.9 + 6.2 = 55.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Newmark Group, Inc.](https://www.sectoralpha.in/us/stocks/nmrk) NMRK · basing · Evidence leans up · 81% evidence 52.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/35 · Revenue 20.8% · Profit 97.3% · Operating margin change -0.7 points · 83% evidence Capital efficiency 12.0/25 · ROCE 7.4% · Operating margin 4.9% · 76% evidence Valuation 12.6/20 · P/E 18.1× · PEG 0.86 · 65% evidence Relative strength 3.5/20 · Lead over its industry -16.2% · Lead over S&P 500 -25.6% · 1 year -31.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.9 + 12 + 12.6 + 3.5 = 52 · What this means: Earnings are strong; relative strength in its sector is -16.2% and the one-year return is -31.6%. 7. Marcus & Millichap, Inc. this page MMI · basing · Evidence leans up · 64% evidence 51.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 11.8% · Profit n/a · Operating margin change 6.4 points · 62% evidence Capital efficiency 8.1/25 · ROCE 1.4% · Operating margin 1.1% · 76% evidence Valuation 8.9/20 · P/E 82.1× · PEG n/a · 15% evidence Relative strength 11.9/20 · Lead over its industry 5.6% · Lead over S&P 500 -5.4% · 1 year -3% · 100% evidence · 2 of 12 weeks ahead Exact sum: 22.4 + 8.1 + 8.9 + 11.9 = 51.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Cushman & Wakefield Limited](https://www.sectoralpha.in/us/stocks/cwk) CWK · turning · Evidence leans up · 71% evidence 50.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue 11% · Profit -66.5% · Operating margin change 0 points · 83% evidence Capital efficiency 12.5/25 · ROCE 9.3% · Operating margin 4.9% · 76% evidence Valuation 9.0/20 · P/E 45.4× · PEG n/a · 15% evidence Relative strength 13.5/20 · Lead over its industry 4.9% · Lead over S&P 500 -6.8% · 1 year -13.4% · 100% evidence · 2 of 12 weeks ahead Exact sum: 15.8 + 12.5 + 9 + 13.5 = 50.8 · What this means: Relative strength against the index is -6.8%, and revenue and profit growth are weak. 9. [FirstService Corporation](https://www.sectoralpha.in/us/stocks/fsv) FSV · turning · Evidence leans up · 85% evidence 50.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.2/35 · Revenue 3.7% · Profit 6.5% · Operating margin change -0.4 points · 95% evidence Capital efficiency 14.8/25 · ROCE 9.8% · Operating margin 7.3% · 76% evidence Valuation 4.7/20 · P/E 38.3× · PEG 4.63 · 65% evidence Relative strength 15.6/20 · Lead over its industry 9.6% · Lead over S&P 500 -2.4% · 1 year -1.7% · 100% evidence · 2 of 12 weeks ahead Exact sum: 15.2 + 14.8 + 4.7 + 15.6 = 50.3 · What this means: Relative strength against the index is -2.4%, and revenue and profit growth are weak. 10. [CBRE Group, Inc.](https://www.sectoralpha.in/us/stocks/cbre) CBRE · basing · Evidence leans down · 85% evidence 47.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 14.5% · Profit 12.5% · Operating margin change -1 points · 95% evidence Capital efficiency 12.2/25 · ROCE 5.9% · Operating margin 3.9% · 76% evidence Valuation 8.8/20 · P/E 26.9× · PEG 1.76 · 65% evidence Relative strength 9.9/20 · Lead over its industry -0.1% · Lead over S&P 500 -11.2% · 1 year -11.2% · 100% evidence · 3 of 12 weeks ahead Exact sum: 16.3 + 12.2 + 8.8 + 9.9 = 47.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Seaport Entertainment Group Inc.](https://www.sectoralpha.in/us/stocks/seg) SEG · quiet · Too little evidence to rank firmly · 53% evidence 45.7 out of 100 Growth Capital Valuation Relative
12. [Colliers International Group Inc.](https://www.sectoralpha.in/us/stocks/cigi) CIGI · turning · Evidence leans down · 81% evidence 45.2 out of 100 Growth Capital Valuation Relative
13. [Compass, Inc.](https://www.sectoralpha.in/us/stocks/comp) COMP · quiet · Evidence leans down · 64% evidence 44.7 out of 100 Growth Capital Valuation Relative
14. [CoStar Group, Inc.](https://www.sectoralpha.in/us/stocks/csgp) CSGP · breaking out · Evidence leans down · 81% evidence 42.0 out of 100 Growth Capital Valuation Relative
15. [The Real Brokerage Inc.](https://www.sectoralpha.in/us/stocks/reax) REAX · basing · Evidence leans down · 64% evidence 41.2 out of 100 Growth Capital Valuation Relative
16. [RE/MAX Holdings, Inc.](https://www.sectoralpha.in/us/stocks/rmax) RMAX · Too little evidence to rank firmly · 51% evidence 40.9 out of 100 Growth Capital Valuation Relative
17. [AGNT, Inc](https://www.sectoralpha.in/us/stocks/agnt) AGNT · basing · Evidence leans down · 64% evidence 40.2 out of 100 Growth Capital Valuation Relative
18. [FRP Holdings, Inc.](https://www.sectoralpha.in/us/stocks/frph) FRPH · basing · Too little evidence to rank firmly · 52% evidence 36.0 out of 100 Growth Capital Valuation Relative
19. [Maui Land & Pineapple Company, Inc.](https://www.sectoralpha.in/us/stocks/mlp) MLP · quiet · Most evidence points down · 64% evidence 34.7 out of 100 Growth Capital Valuation Relative
20. Douglas Elliman Inc. DOUG · basing · Most evidence points down · 64% evidence 33.4 out of 100 Growth Capital Valuation Relative
21. [Opendoor Technologies Inc.](https://www.sectoralpha.in/us/stocks/open) OPEN · basing · Most evidence points down · 64% evidence 22.6 out of 100 Growth Capital Valuation Relative
22. [American Realty Investors, Inc.](https://www.sectoralpha.in/us/stocks/arl) ARL · turning · Too little evidence to rank firmly · 45% evidence 55.0 out of 100 Growth Capital Valuation Relative
23. New England Realty Associates Limited Partnership NEN · quiet · Too little evidence to rank firmly · 32% evidence 46.9 out of 100 Growth Capital Valuation Relative
24. Rafael Holdings, Inc. RFL · Too little evidence to rank firmly · 15% evidence 43.0 out of 100 Growth Capital Valuation Relative
25. Star Holdings STHO · Too little evidence to rank firmly · 44% evidence 40.9 out of 100 Growth Capital Valuation Relative
26. [Hotel101 Global Holdings Corp.](https://www.sectoralpha.in/us/stocks/hbnb) HBNB · basing · Too little evidence to rank firmly · 39% evidence 40.8 out of 100 Growth Capital Valuation Relative
27. Seritage Growth Properties SRG · Too little evidence to rank firmly · 25% evidence 39.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Real Estate Services](https://www.sectoralpha.in/us/sectors/real-estate-services), all 27 compared on one page. ## Which companies are close to Marcus & Millichap in size? Marcus & Millichap is the 14th largest of 24 Real Estate Services companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Opendoor Technologies Inc., Hotel101 Global Holdings Corp. and IRSA Inversiones y Representaciones Sociedad Anónima. Just below it: AGNT, Inc, The Real Brokerage Inc. and The RMR Group Inc. ### Real Estate Services companies close in size

1. [Opendoor Technologies Inc.](https://www.sectoralpha.in/us/stocks/open) $1.7 billion
2. [Hotel101 Global Holdings Corp.](https://www.sectoralpha.in/us/stocks/hbnb) $1.2 billion
3. [IRSA Inversiones y Representaciones Sociedad Anónima](https://www.sectoralpha.in/us/stocks/irs) $1.1 billion
4. Marcus & Millichap, Inc. $1.1 billion
5. [AGNT, Inc](https://www.sectoralpha.in/us/stocks/agnt) $655 million
6. [The Real Brokerage Inc.](https://www.sectoralpha.in/us/stocks/reax) $557 million
7. [The RMR Group Inc.](https://www.sectoralpha.in/us/stocks/rmr) $533 million

[All 24 Real Estate Services companies, largest first](https://www.sectoralpha.in/us/sectors/real-estate-services#all-companies)

### Companies close in size in other industries

1. [Dauch Corporation](https://www.sectoralpha.in/us/stocks/dch) $1.1 billion · Auto Parts
2. [LGI Homes, Inc.](https://www.sectoralpha.in/us/stocks/lgih) $1.1 billion · Residential Construction
3. Marcus & Millichap, Inc. $1.1 billion
4. [Grid Dynamics Holdings, Inc.](https://www.sectoralpha.in/us/stocks/gdyn) $1.1 billion · Information Technology Services
5. [National Healthcare Properties, Inc.](https://www.sectoralpha.in/us/stocks/nhp) $1.1 billion · REIT - Residential

## What else do people ask about Marcus & Millichap? ### What were Marcus & Millichap's latest quarterly results? Marcus & Millichap, Inc. reported revenue of $203 M and net profit of $3.9 M for the Jun 2026 quarter. Earnings per share were $0.10. The operating margin was 1.1%, 6.4 percentage points higher than a year earlier (as of 3 November 2026). ### What is Marcus & Millichap's market cap? Marcus & Millichap, Inc.'s market capitalisation is $1.1 B at a stock price of $28.40. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Marcus & Millichap performing? Marcus & Millichap, Inc.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 7 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Marcus & Millichap's stock price go up? This page does not forecast Marcus & Millichap, Inc.'s stock price. What it shows instead: the stock price is $28.40. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Is Marcus & Millichap's profit real cash? Yes, over the last 2 years, 109% of Marcus & Millichap, Inc.'s reported profit came in as cash from operations. The latest year was lower at -3492%, so the trend is worth watching. In FY25, operating cash was $66.7 M against reported profit of −$1.9 M. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is Marcus & Millichap in its business cycle? Marcus & Millichap, Inc.'s FY25 operating margin was −1.7%, against a 5-year range of −9.2% to 14.6%: the middle of its own range, neither a peak nor a low. The latest quarter was 1.1%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Marcus & Millichap story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Marcus & Millichap a stock worth studying right now? What the numbers show: Marcus & Millichap, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.