Marcus & Millichap's Q4 revenue rises on transaction growth

Marcus and Millichap

13/02/2026 13:09

Overview

Real estate services firm's preliminary Q4 revenue rose 1.6% yr/yr

Adjusted EBITDA for Q4 beat estimates, showing significant improvement

Private Client Market brokerage revenue increased by 10.3% yr/yr

Outlook

Company anticipates overcoming near-term challenges in commercial real estate transaction market

Marcus & Millichap sees long-term growth opportunities in fragmented Private Client Market

Company remains mindful of economic uncertainty and geopolitical factors impacting investor sentiment

Result Drivers

TRANSACTION GROWTH - Co reported a 9.2% increase in total number of transactions, contributing to revenue growth

PRIVATE CLIENT MARKET - Revenue in Private Client Market increased by 10.3%, benefiting from higher commission rates

COST MANAGEMENT - Decrease in operating expenses, particularly in selling, general and administrative expenses, improved profitability

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$243.95 mln
$249.05 mln (2 Analysts)
Q4 Net Income
$13.31 mln
Q4 Adjusted EBITDA
Beat
$25 mln
$18.10 mln (1 Analyst)
Q4 EBIT
$15.42 mln
Q4 Operating Expenses
$228.53 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the real estate services peer group is "buy."

Wall Street's median 12-month price target for Marcus & Millichap Inc is $28.00, about 12% above its February 12 closing price of $25.01

Press Release: ID:nBwbWWX6Ya

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)