NEWMARK GROUP Reports Second Quarter FY2023 Earnings Results on July 28 2023
August 3, 2023
🌥️Earnings Overview
On July 28 2023, NEWMARK GROUP ($NASDAQ:NMRK) reported their earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter amounted to USD 585.8 million, a decline of 22.4% from the same period the previous year. Year-over-year, net income decreased 86.7% to USD 6.4 million.
Stock Price
The stock opened at $6.6 and closed at $6.8, a decrease of 0.3% from its last closing price of 6.8. Overall, the NEWMARK GROUP‘s second quarter earnings results were mixed with some improvement in revenue and cash flow but a slight decrease in net income and earnings per share. Investors should keep an eye out for the company’s third quarter earnings results in October for further insight into their future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Newmark Group. More…
| Total Revenues | Net Income | Net Margin |
| 2.38k | 30.47 | 1.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newmark Group. More…
| Operations | Investing | Financing |
| -42.17 | -178.21 | 116.92 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Newmark Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.92k | 3.41k | 6.79 |
Key Ratios Snapshot
Some of the financial key ratios for Newmark Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.5% | -11.8% | 4.2% |
| FCF Margin | ROE | ROA |
| -3.7% | 5.2% | 1.3% |
Analysis
At GoodWhale, we have analyzed the financials of NEWMARK GROUP and have concluded that it has an intermediate health score of 4/10 considering its cashflows and debt. This indicates that the company may be able to sustain future operations in times of crisis. NEWMARK GROUP is classified as a ‘cow’, which we define as a company with a track record of paying out consistent and sustainable dividends. NEWMARK GROUP is strong in dividend, medium in growth and weak in asset and profitability. This makes it an attractive option for investors seeking a steady income stream. Investors looking for growth opportunities may find NEWMARK GROUP too conservative for their tastes. Nevertheless, its consistent dividends and moderate risk profile make it a good long-term investment for those seeking a steady return. More…
Peers
Newmark Group Inc is one of the world’s largest commercial real estate services firms. Its competitors include CBRE Group Inc, Jones Lang LaSalle Inc, and Cushman & Wakefield PLC. Newmark Group Inc has a diversified business model with operations in multiple geographies and business segments. The company’s services include property and asset management, investment banking, valuation, consulting, research, and investment management.
– CBRE Group Inc ($NYSE:CBRE)
CBRE Group Inc is a commercial real estate services and investment firm. As of 2022, it has a market capitalization of 21.75 billion dollars and a return on equity of 20.08%. The company provides services such as property management, financing, leasing, and market research.
– Jones Lang LaSalle Inc ($NYSE:JLL)
As of 2022, Jones Lang LaSalle Inc has a market cap of 6.63B and a Return on Equity of 13.87%. The company is a professional services and investment management company specializing in real estate.
– Cushman & Wakefield PLC ($NYSE:CWK)
Cushman & Wakefield PLC is a leading global real estate services firm with a market capitalization of $2.39 billion as of 2022. The company has a strong return on equity of 27.74%. Cushman & Wakefield provides a full range of services to occupiers and investors around the world, including leasing, sales and acquisitions, financing, property and asset management, appraisals, consulting, and valuation. The company has more than 53,000 employees in 60 countries.
Summary
Investing analysis of NEWMARK GROUP for the second quarter of FY2023 has revealed a drop in revenue of 22.4%, with a net income of USD 6.4 million, an 86.7% decrease year over year. Currently, the stock is trading at a lower price than the market average due to the poor performance. Investors should be cautious when considering investments in NEWMARK GROUP and consider other options with better fundamentals.
Those more experienced investors may consider short-term investments if there is a possibility of quick profits. A thorough analysis should be conducted before deciding to invest in this company.
Related Posts
Recent Posts
