Business Wire·Feb 13, 2026, 8:00 AM ET

Marcus & Millichap, Inc. Reports Preliminary Results for Fourth Quarter and Full Year 2025

MMI

Marcus & Millichap, Inc. reported fourth quarter 2025 earnings per share of $0.34, a 57.0% increase compared to the same period in 2024.
Total revenue for the fourth quarter 2025 was $244.0 million, an increase of 1.6% year over year.
Brokerage commissions reached $205.3 million in the fourth quarter 2025, up 1.2% from the prior year.
Private Client Market brokerage revenue grew 10.3% to $132.8 million, while Middle Market and Larger Transaction Market revenue declined 15.8% to $64.6 million.
Financing fees increased 6.5% to $33.2 million in the fourth quarter 2025.
Net income for the fourth quarter 2025 was $13.3 million, or $0.34 per diluted share, compared to $8.5 million in the prior year.
Adjusted EBITDA for the fourth quarter 2025 rose 38.7% to $25.0 million.
Full year 2025 total revenue was $755.2 million, an 8.5% increase compared to 2024.
Full year 2025 brokerage commissions totaled $632.5 million, up 7.3% from the prior year.
Full year 2025 financing fees increased 23.0% to $103.9 million.
The Company reported a net loss of $1.9 million, or $0.05 per share, for the full year 2025, compared to a net loss of $12.4 million in 2024.
Full year 2025 Adjusted EBITDA was $24.6 million, a 162.6% increase from $9.4 million in 2024.
Total sales volume for the full year 2025 reached $50.8 billion across 8,818 transactions.
As of December 31, 2025, the Company employed 1,808 investment sales \& financing professionals.
During 2025, the Company declared $20.4 million in dividends \& repurchased 933,115 shares for $26.9 million.
Approximately $42.0 million remained available for share repurchases under the program as of February 10, 2026.
The Company anticipates returning to long-term growth in 2026 despite challenges such as interest rate uncertainty, inflation risks, \& geopolitical factors.