Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
Upturn AI Summary - About
Marcus & Millichap Inc(MMI)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for MMI
11/06/2026: MMI (1-star) is currently NOT-A-BUY. Pass it for now.
Marcus & Millichap is a specialized commercial real estate brokerage firm known for its leading position in the private client investment segment. The company's primary strength is a collaborative, research-driven platform that facilitates high-volume transactions across diverse property types. Its main growth opportunity lies in expanding financing services to capture more value from each deal. However, the firm faces material risks, including high sensitivity to cyclical interest rate changes and intense competition from larger, diversified brokerage firms. As a cyclical stock, it may best suit investors comfortable with volatility, though it is not a suitable choice for those seeking consistent dividend income.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | Growth is highly dependent on cyclical real estate transaction volumes rather than secular expansion. |
| Momentum investor | Weak fit | The stock currently lacks a strong positive momentum signal due to industry-wide transaction slowness. |
| Value investor | Mixed fit | Valuation may appear attractive during market troughs, but recovery timing is uncertain. |
| Dividend investor | Weak fit | The company does not provide a consistent or meaningful regular dividend income stream. |
| Low-risk investor | Weak fit | Stock price volatility is high given its sensitivity to economic cycles and interest rate changes. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock price fluctuates significantly based on interest rate news and market sentiment regarding commercial real estate. |
| Valuation risk | Medium | Valuation levels are often suppressed during periods of low transaction volume, making entry points difficult to time. |
| Competition risk | Medium / high | Intense competition from diversified real estate giants limits pricing power. |
| Business quality | Medium | The business has a strong historical franchise but is inherently cyclical. |
| Dividend income | Low / none | Investors should not rely on MMI for recurring dividend income. |
| Execution risk | Medium | Success depends on the ability to recruit and retain high-performing brokers in a competitive labor market. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit -17.64% | Avg. Invested days 37 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/06/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.05B USD | Price to earnings Ratio 69.38 | 1Y Target Price 28 |
Price to earnings Ratio 69.38 | 1Y Target Price 28 | ||
Volume (30-day avg) 172.1K shares | Beta 1.25 | 52 Weeks Range 24.00 - 33.28 | Updated Date 11/07/2026 |
52 Weeks Range 24.00 - 33.28 | Updated Date 11/07/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.4 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Brokerage Commissions | Fees earned from facilitating the purchase and sale of commercial real estate properties. | The company makes money primarily when clients successfully close real estate deals. |
| Financing Fees | Fees generated from arranging debt and equity financing for real estate transactions. | Financing services provide a secondary, complementary stream of income during deals. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2026-11-06 | When Before Market | Estimate 0.07 | Actual 0.09 |
Profitability
Profit Margin 1.77% | Operating Margin (TTM) 1.09% |
Management Effectiveness
Return on Assets (TTM) 0.8% | Return on Equity (TTM) 2.42% |
Valuation
Trailing PE 69.38 | Forward PE - | Enterprise Value 944.75M | Price to Sales(TTM) 1.29 |
Enterprise Value 944.75M | Price to Sales(TTM) 1.29 | ||
Enterprise Value to Revenue 1.16 | Enterprise Value to EBITDA 26.03 | Shares Outstanding 37.87M | Shares Floating 23.06M |
Shares Outstanding 37.87M | Shares Floating 23.06M | ||
Percent Insiders 3.88 | Percent Institutions 98.15 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.