2026-10-25
Marcus & Millichap, clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 04:01 UTC
The Screen · Real Estate · Real Estate Services
Marcus & Millichap, Inc.
MMI · the NYSE · USD · Market cap $1.1B · 854 employees
Marcus & Millichap, Inc., an investment brokerage company, provides commercial real estate investment sales, financing services, research and advisory services in the United States and Canada.
Not yet scored27.75 USD
Price as of 6 Nov 2026Daily close, not a live quote
Screened 2026-11-06 · the tape above runs as of 04:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price27.75 USD at the 6 Nov 2026 close
- Fair value19.72. Our model only; only one analyst covers it, too few to cross-check it.
- Our value readOvervalued vs our fair value, as of 6 Nov 2026
- Our regime readMarkup, as of 7 Nov 2026
- Ethical screenNot yet scored
- Last reviewed6 Nov 2026 (2 days ago)
- Release timesRelease and earnings times on your chart: Event Guard Mentor
A summary of the dated readings below, not a live quote and not advice.
PRICE · ONE YEAR
Our fair-value range: $19.72 to $22.68, base estimate $19.72 (screen dated 2026-11-06).
- Trend Markup
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options no verdict drawn today, left as found
- Ethical screen not yet scored
Price27.75 USD
Fair value19.72Our model only; only one analyst covers it, too few to cross-check it.
Ethical score70.0/100
Value readOvervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-11-06Read Markdown28.66-3.2% to today ✓Accumulation gives way to Markdown first Markdown read since November
2026-11-05Read Accumulation29.55-6.1% to today Markdown gives way to Accumulation
2026-10-02Read Markdown30.86-10.1% to today ✓Accumulation gives way to Markdown
2026-09-05Read Accumulation31.27-11.3% to today Markup gives way to Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its markup label.
Marcus & Millichap, Inc. holds its Markup at $27.75. Consolidating, no directional conviction, held for 94 days.
| Phase | Markup |
| Quantitative state | Consolidating, no directional conviction, held for 94 days |
| Price at the screen | $27.75 |
| Valuation | 77.46 trailing · 40.08 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 1.25 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 9.46% | Below 33% | Interest-bearing debt is just 9.5% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 17.61% | Below 33% | Cash held in interest-bearing accounts and securities is 17.6% of assets, under the one-third limit. | Pass |
| Receivables | 21.37% | Below 49% | Money owed to the company is 21.4% of assets, under the 49% limit. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
Marcus & Millichap, clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
Marcus & Millichap, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 9%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Our model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Overvalued vs our fair value, as of 6 Nov 2026: it trades above our $19.72 fair value estimate, 17.80% revenue growth.
How a fair value is estimated: discounted cash flow (DCF).
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 40.7% above the base estimate.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & ProjectionsWhere our models see it going: fair-value estimate $19.72, with a range of $19.72 to $22.68, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsWhy it gives us pause
At 40.1x forward earnings, the price already runs ahead of the business. It trades 41% above our $19.72 fair value, so you would be buying at a premium, not a discount.
| Forward P/E | 40.1xexpensive even after accounting for its growth |
| Trailing P/E | 77.5xexpensive: the price assumes strong growth ahead |
| EPS, trailing | 0.37 |
| EPS, forward | 0.72 |
| Revenue growth | +17.8%steady growth |
| Profit margin | 1.8%barely profitable |
| Return on equity | 2.4%a modest return on shareholder capital |
| FCF yield | 6.29% |
| Dividend yield | 1.76% |
| Debt to equity | 0.13minimal debt: a conservative balance sheet |
| Current ratio | 2.92comfortably covers its short-term bills |
| Beta | 1.25moves a little more than the market |
| Short interest, float | 0.06% |
| 52-week range | 24.43 - 33.55 |
| Market cap | $1.1B |
| Employees | 854 |
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeMMI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-11-06
Markdown · changed $28.66
-3.0% Entry 17
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-05
Accumulation · changed $29.55
+4.0% Entry 16
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04
Markdown $28.40
+1.4% Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.4% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03
Markdown $28.00
+0.0% Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02
Markdown $28.00
+0.0% Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01
Markdown $28.00
+1.5% Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.5% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31
Markdown $27.59
+0.0% Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30
Markdown $27.59
-2.4% Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.4% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28
Markdown $28.28
+0.0% Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28. Since the last review it dropped out of the Titan Ethical 500.
2026-10-21
Markdown $28.27
+0.1% Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.1% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 1%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (1 analysts) rates it none, with a mean price target of $28.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
- Marcus & Millichap, Inc. to Report Third Quarter 2026 Financial Results on Friday, November 6, 2026 Yahoo Finance · 16d ago
- Marcus & Millichap Names Defease With Ease | Thirty Capital a Preferred Partner for Debt Management Services Yahoo Finance · 17d ago
- Shrinking Construction Pipeline Could Extend CRE Rent Growth Yahoo Finance · 17d ago
- Manufactured Housing Rents Rise 6.2%, Outpacing Apartments Yahoo Finance · 18d ago
- 1 High-Flying Stock Worth Your Attention and 2 We Question Yahoo Finance · 20d ago
Headlines from third-party outlets, linked for reference: not our reporting, not advice.
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| Date | Politician | Party | Type | Amount |
|---|---|---|---|---|
| 2026-10-07 | Dave McCormick | Republican | buy | 500K–1M |
| 2026-09-24 | Suzan DelBene | Democrat | buy | 15K–50K |
| 2026-09-24 | Suzan DelBene | Democrat | buy | 15K–50K |
| 2026-09-24 | Suzan DelBene | Democrat | buy | 15K–50K |
| 2026-07-31 | Dave McCormick | Republican | sell | 100K–250K |
| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $30.23 | +0.9% | · | $1,009 | +0.9% |
| 2 months | $26.20 | +16.4% | · | $1,164 | +16.4% |
| 3 months | $25.86 | +17.9% | $0.25 | $1,189 | +18.9% |
| 6 months | $27.74 | +9.9% | $0.25 | $1,108 | +10.8% |
| 1 year | $30.14 | +1.2% | $0.50 | $1,028 | +2.8% |
| 2 years | $29.63 | +2.9% | $1.00 | $1,063 | +6.3% |
| 3 years | $31.09 | -1.9% | $1.50 | $1,029 | +2.9% |
| 5 years | $35.79 | -14.8% | $3.25 | $943 | -5.7% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever MMI does next, these words stay.
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