Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $717M | $720M | $815M | $806M | $717M | $1.30B | $1.30B | $646M | $696M | $755M |
| Revenue growth | — | 0.3% | 13.2% | -1.0% | -11.1% | 80.8% | 0.4% | -50.4% | 7.8% | 8.5% |
| Operating income | $107M | $96.1M | $112M | $96.4M | $53.6M | $189M | $137M | -$59.4M | -$32.9M | -$13.7M |
| Operating margin | 14.8% | 13.4% | 13.8% | 12.0% | 7.5% | 14.6% | 10.6% | -9.2% | -4.7% | -1.8% |
| Net income | $64.7M | $51.5M | $87.3M | $76.9M | $42.8M | $142M | $104M | -$34.0M | -$12.4M | -$1.91M |
| Net margin | 9.0% | 7.2% | 10.7% | 9.5% | 6.0% | 11.0% | 8.0% | -5.3% | -1.8% | -0.3% |
| EPS (diluted) | $1.66 | $1.32 | $2.22 | $1.95 | $1.08 | $3.55 | $2.59 | -$0.88 | -$0.32 | -$0.05 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74.5M | $66.5M | $117M | $25.3M | $38.1M | $256M | $13.6M | -$72.4M | $21.7M | $66.7M |
| Capital expenditures | $9.47M | $6.55M | $8.07M | $8.81M | $6.95M | $6.86M | $11.7M | $9.37M | $7.87M | $7.87M |
| Free cash flow | $65.0M | $60.0M | $109M | $16.5M | $31.1M | $249M | $1.96M | -$81.8M | $13.8M | $58.8M |
| Share buybacks | — | — | — | — | $0.00 | $0.00 | $29.1M | $39.4M | $785K | $25.4M |
| Dividends paid | — | — | — | — | $0.00 | $0.00 | $60.4M | $20.1M | $20.2M | $20.6M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $187M | $221M | $215M | $233M | $243M | $382M | $236M | $171M | $153M | $162M |
| Total assets | $394M | $460M | $566M | $709M | $779M | $1.05B | $1.00B | $878M | $870M | $827M |
| Total liabilities | $135M | $145M | $157M | $214M | $232M | $349M | $290M | $233M | $239M | $224M |
| Shareholders' equity | $259M | $315M | $410M | $495M | $547M | $696M | $714M | $645M | $631M | $603M |
| Retained earnings | $173M | $224M | $311M | $388M | $431M | $574M | $586M | $492M | $459M | $410M |
| Shares (wtd avg diluted) | 39.0M | 39.1M | 39.4M | 39.5M | 39.7M | 40.2M | 40.2M | 38.7M | 38.7M | 38.9M |
Every figure is extracted from Marcus & Millichap, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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