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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash-to-Debt 33.87
MMI's Cash-to-Debt is ranked higher than
79% of the 1667 Companies
in the Global Real Estate Services industry.

( Industry Median: 0.34 vs. MMI: 33.87 )
Ranked among companies with meaningful Cash-to-Debt only.
MMI' s Cash-to-Debt Range Over the Past 10 Years
Min: 6.74  Med: 17.81 Max: No Debt
Current: 33.87
6.74
No Debt
Equity-to-Asset 0.77
MMI's Equity-to-Asset is ranked higher than
80% of the 1598 Companies
in the Global Real Estate Services industry.

( Industry Median: 0.45 vs. MMI: 0.77 )
Ranked among companies with meaningful Equity-to-Asset only.
MMI' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.06  Med: 0.6 Max: 0.77
Current: 0.77
0.06
0.77
Debt-to-Equity 0.03
MMI's Debt-to-Equity is ranked higher than
97% of the 1328 Companies
in the Global Real Estate Services industry.

( Industry Median: 0.79 vs. MMI: 0.03 )
Ranked among companies with meaningful Debt-to-Equity only.
MMI' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.03  Med: 0.05 Max: 0.2
Current: 0.03
0.03
0.2
Debt-to-EBITDA 0.08
MMI's Debt-to-EBITDA is ranked higher than
98% of the 1283 Companies
in the Global Real Estate Services industry.

( Industry Median: 5.22 vs. MMI: 0.08 )
Ranked among companies with meaningful Debt-to-EBITDA only.
MMI' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.08  Med: 0.09 Max: 0.49
Current: 0.08
0.08
0.49
Interest Coverage 68.21
MMI's Interest Coverage is ranked higher than
69% of the 1507 Companies
in the Global Real Estate Services industry.

( Industry Median: 10.91 vs. MMI: 68.21 )
Ranked among companies with meaningful Interest Coverage only.
MMI' s Interest Coverage Range Over the Past 10 Years
Min: 51.25  Med: 136.1 Max: 12252
Current: 68.21
51.25
12252
Piotroski F-Score: 6
Altman Z-Score: 12.93
Beneish M-Score: -3.16
WACC vs ROIC
11.38%
97.56%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating Margin % 13.57
MMI's Operating Margin % is ranked lower than
60% of the 1635 Companies
in the Global Real Estate Services industry.

( Industry Median: 18.40 vs. MMI: 13.57 )
Ranked among companies with meaningful Operating Margin % only.
MMI' s Operating Margin % Range Over the Past 10 Years
Min: 4.88  Med: 13.04 Max: 16.64
Current: 13.57
4.88
16.64
Net Margin % 7.76
MMI's Net Margin % is ranked lower than
63% of the 1635 Companies
in the Global Real Estate Services industry.

( Industry Median: 11.99 vs. MMI: 7.76 )
Ranked among companies with meaningful Net Margin % only.
MMI' s Net Margin % Range Over the Past 10 Years
Min: 1.88  Med: 7.2 Max: 9.63
Current: 7.76
1.88
9.63
ROE % 18.97
MMI's ROE % is ranked higher than
82% of the 1650 Companies
in the Global Real Estate Services industry.

( Industry Median: 7.02 vs. MMI: 18.97 )
Ranked among companies with meaningful ROE % only.
MMI' s ROE % Range Over the Past 10 Years
Min: 17.96  Med: 43.39 Max: 133.7
Current: 18.97
17.96
133.7
ROA % 13.83
MMI's ROA % is ranked higher than
94% of the 1694 Companies
in the Global Real Estate Services industry.

( Industry Median: 2.77 vs. MMI: 13.83 )
Ranked among companies with meaningful ROA % only.
MMI' s ROA % Range Over the Past 10 Years
Min: 6.38  Med: 23.92 Max: 41.84
Current: 13.83
6.38
41.84
ROC (Joel Greenblatt) % 622.70
MMI's ROC (Joel Greenblatt) % is ranked higher than
89% of the 1662 Companies
in the Global Real Estate Services industry.

( Industry Median: 16.29 vs. MMI: 622.70 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
MMI' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 289.17  Med: 825.05 Max: 1194.42
Current: 622.7
289.17
1194.42
3-Year Revenue Growth Rate 7.80
MMI's 3-Year Revenue Growth Rate is ranked higher than
76% of the 1430 Companies
in the Global Real Estate Services industry.

( Industry Median: 3.00 vs. MMI: 7.80 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
MMI' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 17.8
Current: 7.8
0
17.8
3-Year EBITDA Growth Rate 6.40
MMI's 3-Year EBITDA Growth Rate is ranked higher than
92% of the 1261 Companies
in the Global Real Estate Services industry.

( Industry Median: 5.40 vs. MMI: 6.40 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
MMI' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 64.9
Current: 6.4
0
64.9
3-Year EPS without NRI Growth Rate 1.30
MMI's 3-Year EPS without NRI Growth Rate is ranked higher than
95% of the 1216 Companies
in the Global Real Estate Services industry.

( Industry Median: 4.10 vs. MMI: 1.30 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
MMI' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 90.5
Current: 1.3
0
90.5
GuruFocus has detected 3 Warning Signs with Marcus & Millichap Inc MMI.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» MMI's 30-Y Financials

Financials (Next Earnings Date: 2018-08-08)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2017

MMI Guru Trades in Q2 2017

Jeremy Grantham 9,400 sh (+9.30%)
Chuck Royce 3,796,629 sh (+8.99%)
Murray Stahl 15,596 sh (-4.61%)
Jim Simons 34,900 sh (-35.61%)
Paul Tudor Jones 7,839 sh (-50.75%)
» More
Q3 2017

MMI Guru Trades in Q3 2017

Jim Simons 95,700 sh (+174.21%)
Paul Tudor Jones 9,399 sh (+19.90%)
Murray Stahl 15,835 sh (+1.53%)
Jeremy Grantham Sold Out
Chuck Royce 3,759,488 sh (-0.98%)
» More
Q4 2017

MMI Guru Trades in Q4 2017

Jim Simons 120,700 sh (+26.12%)
Paul Tudor Jones Sold Out
Chuck Royce 3,251,589 sh (-13.51%)
Murray Stahl 12,584 sh (-20.53%)
» More
Q1 2018

MMI Guru Trades in Q1 2018

Pioneer Investments 30,249 sh (New)
Caxton Associates 7,770 sh (New)
Paul Tudor Jones 8,835 sh (New)
Jim Simons 250,000 sh (+107.13%)
Chuck Royce 3,003,227 sh (-7.64%)
Murray Stahl 11,412 sh (-9.31%)
» More
» Details

Insider Trades

Latest Guru Trades with NYSE:MMI

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Business Description

Industry: Real Estate Services » Real Estate Services    NAICS: 531210    SIC: 6531
Compare:HKSE:00051, TSE:8806, HKSE:00251, LSE:CLI, TSE:8850, BOM:532832, WBO:SPIG, LSE:DJAN, BUE:IRCP, SGX:H13, OSTO:KLED, JSE:EPP, SGX:W05, SGX:A26, OSTO:DCAR B, SHSE:600657, LSE:SMP, HKSE:1778, LSE:PURP, SZSE:000631 » details
Traded in other countries:M6M.Germany,
Headquarter Location:USA
Marcus & Millichap, Inc. is a national brokerage firm engaged in commercial real estate investment sales, financing, research and advisory services.

Marcus & Millichap, Inc. is a United States-based company that is principally engaged in providing investment brokerage and financing services related to commercial real estate. The company focuses its business in core property types--multifamily, retail, office and industrial properties--and it also operates business for specialty property types, such as hospitality, self-storage, senior housing, land, manufactured housing, and other. The company generates revenue from commissions collected upon the sale and financing of commercial properties and fees collected from the placement of loans, with real estate brokerage commissions accounting for majority of total revenue. The company focuses its business on the United States, and does a small amount of business in Canada.

Guru Investment Theses on Marcus & Millichap Inc

Royce Funds Comments on Marcus & Millichap - Sep 12, 2016

Marcus & Millichap (NYSE:MMI) is a leading commercial real estate sales brokerage firm. Its stock has declined in anticipation of slower sales and earnings growth as the commercial real estate recovery slowly matures.



But we believe the company can outpace its industry's growth over the long term with its primary focus on less cyclical, private sales (deals from $1 million to $10 million), growth in new agents and improving productivity of existing brokers, and market share gains as it expands into underserved locales and specialty properties (such as industrial, office, and hospitality) beyond its core multifamily and retail focus.



Marcus & Millichap's local market presence and knowledge, national footprint, and database of proprietary listings create both a positive network effect and a competitive advantage. If the commercial real estate market experiences a more severe correction, the company should weather the storm because of its highly variable cost structure and rock solid, debt-free balance sheet, which features more than $5 per share in cash.





From Lauren Romeo's Today's Opportunities in Quality Small-Caps.



Check out Chuck Royce latest stock trades

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Insiders Roundup: Facebook, Coty Largest insider trades of the week
The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to “$200,000+,” the duration to “November 2017” and All Insider Sales to “$5,000,000+.” Read more...

Ratios

vs
industry
vs
history
PE Ratio 26.74
MMI's PE Ratio is ranked lower than
77% of the 1321 Companies
in the Global Real Estate Services industry.

( Industry Median: 12.80 vs. MMI: 26.74 )
Ranked among companies with meaningful PE Ratio only.
MMI' s PE Ratio Range Over the Past 10 Years
Min: 11.46  Med: 19.92 Max: 104.55
Current: 26.74
11.46
104.55
PE Ratio without NRI 26.74
MMI's PE Ratio without NRI is ranked lower than
77% of the 1320 Companies
in the Global Real Estate Services industry.

( Industry Median: 13.05 vs. MMI: 26.74 )
Ranked among companies with meaningful PE Ratio without NRI only.
MMI' s PE Ratio without NRI Range Over the Past 10 Years
Min: 11.46  Med: 19.92 Max: 104.55
Current: 26.74
11.46
104.55
Price-to-Owner-Earnings 20.42
MMI's Price-to-Owner-Earnings is ranked lower than
80% of the 771 Companies
in the Global Real Estate Services industry.

( Industry Median: 11.88 vs. MMI: 20.42 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
MMI' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 13.88  Med: 20.17 Max: 27.73
Current: 20.42
13.88
27.73
PB Ratio 4.54
MMI's PB Ratio is ranked lower than
91% of the 1647 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.10 vs. MMI: 4.54 )
Ranked among companies with meaningful PB Ratio only.
MMI' s PB Ratio Range Over the Past 10 Years
Min: 3.12  Med: 4.62 Max: 13.13
Current: 4.54
3.12
13.13
PS Ratio 2.03
MMI's PS Ratio is ranked higher than
62% of the 1572 Companies
in the Global Real Estate Services industry.

( Industry Median: 3.00 vs. MMI: 2.03 )
Ranked among companies with meaningful PS Ratio only.
MMI' s PS Ratio Range Over the Past 10 Years
Min: 1.1  Med: 1.73 Max: 3.11
Current: 2.03
1.1
3.11
Price-to-Free-Cash-Flow 18.24
MMI's Price-to-Free-Cash-Flow is ranked lower than
77% of the 543 Companies
in the Global Real Estate Services industry.

( Industry Median: 13.92 vs. MMI: 18.24 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
MMI' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 10.02  Med: 18.5 Max: 27.05
Current: 18.24
10.02
27.05
Price-to-Operating-Cash-Flow 16.92
MMI's Price-to-Operating-Cash-Flow is ranked lower than
75% of the 783 Companies
in the Global Real Estate Services industry.

( Industry Median: 12.35 vs. MMI: 16.92 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
MMI' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 9.57  Med: 16.58 Max: 25.93
Current: 16.92
9.57
25.93
EV-to-EBIT 11.66
MMI's EV-to-EBIT is ranked higher than
60% of the 1403 Companies
in the Global Real Estate Services industry.

( Industry Median: 13.28 vs. MMI: 11.66 )
Ranked among companies with meaningful EV-to-EBIT only.
MMI' s EV-to-EBIT Range Over the Past 10 Years
Min: 5.2  Med: 9.85 Max: 27.9
Current: 11.66
5.2
27.9
EV-to-EBITDA 11.04
MMI's EV-to-EBITDA is ranked higher than
60% of the 1422 Companies
in the Global Real Estate Services industry.

( Industry Median: 12.44 vs. MMI: 11.04 )
Ranked among companies with meaningful EV-to-EBITDA only.
MMI' s EV-to-EBITDA Range Over the Past 10 Years
Min: 5.1  Med: 9.45 Max: 25.8
Current: 11.04
5.1
25.8
EV-to-Revenue 1.62
MMI's EV-to-Revenue is ranked higher than
85% of the 1617 Companies
in the Global Real Estate Services industry.

( Industry Median: 4.97 vs. MMI: 1.62 )
Ranked among companies with meaningful EV-to-Revenue only.
MMI' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.9  Med: 1.3 Max: 2.9
Current: 1.62
0.9
2.9
Current Ratio 6.40
MMI's Current Ratio is ranked higher than
85% of the 1561 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.78 vs. MMI: 6.40 )
Ranked among companies with meaningful Current Ratio only.
MMI' s Current Ratio Range Over the Past 10 Years
Min: 0.23  Med: 2.99 Max: 6.4
Current: 6.4
0.23
6.4
Quick Ratio 6.40
MMI's Quick Ratio is ranked higher than
88% of the 1560 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.17 vs. MMI: 6.40 )
Ranked among companies with meaningful Quick Ratio only.
MMI' s Quick Ratio Range Over the Past 10 Years
Min: 0.23  Med: 2.99 Max: 6.4
Current: 6.4
0.23
6.4
Days Sales Outstanding 1.40
MMI's Days Sales Outstanding is ranked higher than
79% of the 1116 Companies
in the Global Real Estate Services industry.

( Industry Median: 27.99 vs. MMI: 1.40 )
Ranked among companies with meaningful Days Sales Outstanding only.
MMI' s Days Sales Outstanding Range Over the Past 10 Years
Min: 1.4  Med: 2.71 Max: 5.45
Current: 1.4
1.4
5.45
Days Payable 5.16
MMI's Days Payable is ranked lower than
99.99% of the 928 Companies
in the Global Real Estate Services industry.

( Industry Median: 70.10 vs. MMI: 5.16 )
Ranked among companies with meaningful Days Payable only.
MMI' s Days Payable Range Over the Past 10 Years
Min: 5.16  Med: 40.16 Max: 84.86
Current: 5.16
5.16
84.86

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -1.30
MMI's 3-Year Average Share Buyback Ratio is ranked higher than
66% of the 878 Companies
in the Global Real Estate Services industry.

( Industry Median: -4.80 vs. MMI: -1.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
MMI' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -1.3  Med: 0 Max: 0
Current: -1.3
-1.3
0

Valuation & Return

vs
industry
vs
history
Price-to-Net-Cash 7.77
MMI's Price-to-Net-Cash is ranked lower than
55% of the 154 Companies
in the Global Real Estate Services industry.

( Industry Median: 7.50 vs. MMI: 7.77 )
Ranked among companies with meaningful Price-to-Net-Cash only.
MMI' s Price-to-Net-Cash Range Over the Past 10 Years
Min: 6.86  Med: 18.81 Max: 89.2
Current: 7.77
6.86
89.2
Price-to-Net-Current-Asset-Value 7.23
MMI's Price-to-Net-Current-Asset-Value is ranked lower than
78% of the 672 Companies
in the Global Real Estate Services industry.

( Industry Median: 3.03 vs. MMI: 7.23 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
MMI' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.23  Med: 15.79 Max: 36.34
Current: 7.23
6.23
36.34
Price-to-Tangible-Book 4.54
MMI's Price-to-Tangible-Book is ranked lower than
90% of the 1616 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.13 vs. MMI: 4.54 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
MMI' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 3.33  Med: 5.21 Max: 11.21
Current: 4.54
3.33
11.21
Price-to-Intrinsic-Value-Projected-FCF 1.92
MMI's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
99.99% of the 687 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.32 vs. MMI: 1.92 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
MMI' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 1.57  Med: 1.67 Max: 1.92
Current: 1.92
1.57
1.92
Price-to-Median-PS-Value 1.20
MMI's Price-to-Median-PS-Value is ranked lower than
59% of the 1208 Companies
in the Global Real Estate Services industry.

( Industry Median: 1.03 vs. MMI: 1.20 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
MMI' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.79  Med: 1.03 Max: 1.63
Current: 1.2
0.79
1.63
Price-to-Graham-Number 2.32
MMI's Price-to-Graham-Number is ranked lower than
87% of the 1129 Companies
in the Global Real Estate Services industry.

( Industry Median: 0.81 vs. MMI: 2.32 )
Ranked among companies with meaningful Price-to-Graham-Number only.
MMI' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.54  Med: 2.1 Max: 6.56
Current: 2.32
1.54
6.56
Earnings Yield (Greenblatt) % 8.55
MMI's Earnings Yield (Greenblatt) % is ranked higher than
67% of the 1692 Companies
in the Global Real Estate Services industry.

( Industry Median: 6.05 vs. MMI: 8.55 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
MMI' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 3.6  Med: 10.15 Max: 19.2
Current: 8.55
3.6
19.2

More Statistics

Revenue (TTM) (Mil) $741.03
EPS (TTM) $ 1.47
Beta1.41
Volatility22.83%
52-Week Range $24.34 - 39.07
Shares Outstanding (Mil)38.58

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAY
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyY
Less Shares Outstanding yoyN
Higher Gross Margin yoyY
Higher Asset Turnover yoyN

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