• Reported GAAP EPS of $0.34 up 54.55% YoY • Reported revenue of $243.95M up 1.61% YoY
Bullish
Marcus & Millichap reported a 57.0% increase in Q4 2025 EPS and 38.7% Adjusted EBITDA growth, driven by Private Client Market strength and financing fees. The company is well-positioned for long-term growth.
Bearish
Marcus & Millichap experienced a 15.8% decrease in Middle Market and Larger Transaction Market brokerage revenue in Q4 2025. The company remains mindful of lingering economic uncertainty, geopolitical factors, and potential increases in operating expenses.