MMI Stock Intrinsic Value – MARCUS & MILLICHAP Reports Q2 Earnings for FY2023 with June 30 Deadline
August 7, 2023
🌥️Earnings Overview
MARCUS & MILLICHAP ($NYSE:MMI) released their earnings for Q2 of FY2023 on August 4 2023, for the period ending June 30 2023. Total revenue for the quarter was USD 162.9 million, a 58.9% decrease from the same quarter in the prior year. Net income was USD -8.7 million, compared to net income of 42.2 million in Q2 of FY2022.
Stock Price
The company’s stock opened at $36.3 and closed at $36.6, representing a small decline of 1.5% from the previous closing price of $37.2. Overall, MARCUS & MILLICHAP’s Q2 earnings for FY2023 have proven to be positive, with the company showing impressive growth compared to the same period in the prior year. The company’s solid balance sheet and strong cash flow are also promising signs for their future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MMI. More…
| Total Revenues | Net Income | Net Margin |
| 903.95 | 14.75 | 1.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MMI. More…
| Operations | Investing | Financing |
| -29.31 | 84.97 | -96.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MMI. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 883.51 | 219.59 | 17.26 |
Key Ratios Snapshot
Some of the financial key ratios for MMI are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.7% | -47.8% | 2.7% |
| FCF Margin | ROE | ROA |
| -4.6% | 2.3% | 1.7% |
Analysis – MMI Stock Intrinsic Value
GoodWhale has conducted an analysis of MARCUS & MILLICHAP’s financials and with our proprietary Valuation Line, we have calculated the intrinsic value of MARCUS & MILLICHAP’s share to be around $39.3. However, MARCUS & MILLICHAP’s stock is currently traded at $36.6, which is a fair price that is undervalued by 6.8%. Our analysis therefore suggests there is an opportunity to purchase MARCUS & MILLICHAP’s stock at a discounted price. More…
Peers
The commercial real estate industry is highly competitive, with Marcus & Millichap Inc competing against APAC Realty Ltd, Newmark Group Inc, and B-Lot Co Ltd. All of these companies are fighting for market share, with each one trying to outdo the others in terms of properties leased or sold, and commissions earned.
– APAC Realty Ltd ($SGX:CLN)
PAC Realty Ltd is a real estate company with a market cap of $197.13M and a ROE of 16.64%. The company operates in the Asia-Pacific region and is engaged in the business of development, sale, and management of properties.
– Newmark Group Inc ($NASDAQ:NMRK)
Newmark Group Inc is a leading provider of commercial real estate services in the United States. The company has a market cap of 1.4 billion as of 2022 and a return on equity of 20.29%. Newmark Group Inc is engaged in the business of providing services to clients in the real estate industry, including investment banking, capital markets, advisory, and management services.
– B-Lot Co Ltd ($TSE:3452)
The company’s market cap is 10.77B as of 2022. The company’s ROE is 13.8%. The company has a diversified businesses, including food and beverage, manufacturing, and retail. The company’s products are sold in over 100 countries.
Summary
MARCUS & MILLICHAP reported their FY2023 Q2 earnings results, showing a steep 58.9% year-over-year decrease in total revenue to USD 162.9 million and a USD -8.7 million net income, compared to the previous year’s 42.2 million net income. Investors should take note of the drastic decline in revenue and net income and consider the company’s long-term prospects, as well as their current strategy, before making any investment decisions. Analyzing the financials, assessing the industry trends, and monitoring the company’s progress will help investors make informed decisions when considering MARCUS & MILLICHAP.
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