Newmark (NMRK)
Market Price (5/20/2026): $13.945 | Market Cap: $2.5 BilSector: Real Estate | Industry: Real Estate Operating Companies
Newmark (NMRK)
Market Price (5/20/2026): $13.945Market Cap: $2.5 BilSector: Real EstateIndustry: Real Estate Operating Companies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% Low stock price volatilityVol 12M is 39% Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, and Smart Buildings & Proptech. Themes include E-commerce Logistics REITs, Data Center REITs, Show more. | Weak multi-year price returns2Y Excs Rtn is -1.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 88% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x Key risksNMRK key risks include [1] a highly leveraged financial structure reliant on debt financing and [2] a high operational expense ratio combined with strategic execution risks from its global expansion and acquisition strategy. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 22% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, and Smart Buildings & Proptech. Themes include E-commerce Logistics REITs, Data Center REITs, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -1.0% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 88% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x |
| Key risksNMRK key risks include [1] a highly leveraged financial structure reliant on debt financing and [2] a high operational expense ratio combined with strategic execution risks from its global expansion and acquisition strategy. |
Qualitative Assessment
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Newmark (NMRK) stock has lost about 20% since 1/31/2026 because of the following key factors:
1. Weak Operating Cash Flow Despite Profitability.
Despite reporting a swing to profit with Q1 2026 net income of $14.4 million (EPS of $0.08) and a 27.2% increase in total revenues to $846.5 million, Newmark experienced negative operating cash flow of $247.6 million. The company's long-term debt also increased to $832.0 million, raising concerns about balance-sheet leverage and potentially impacting investor confidence despite improved earnings.
2. Persistent Stress in the Commercial Real Estate Office Sector.
While Newmark reported broad-based growth across its service lines, the broader commercial real estate (CRE) market continued to face challenges, particularly in the office sector. The office Commercial Mortgage-Backed Securities (CMBS) delinquency rate reached an all-time high of 12.34% in January 2026. This ongoing stress in weaker office assets and uneven recovery across different property types likely contributed to a cautious sentiment among investors, despite positive outlooks for other CRE segments like retail and capital markets.
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1. Weak Operating Cash Flow Despite Profitability.
Despite reporting a swing to profit with Q1 2026 net income of $14.4 million (EPS of $0.08) and a 27.2% increase in total revenues to $846.5 million, Newmark experienced negative operating cash flow of $247.6 million. The company's long-term debt also increased to $832.0 million, raising concerns about balance-sheet leverage and potentially impacting investor confidence despite improved earnings.
2. Persistent Stress in the Commercial Real Estate Office Sector.
While Newmark reported broad-based growth across its service lines, the broader commercial real estate (CRE) market continued to face challenges, particularly in the office sector. The office Commercial Mortgage-Backed Securities (CMBS) delinquency rate reached an all-time high of 12.34% in January 2026. This ongoing stress in weaker office assets and uneven recovery across different property types likely contributed to a cautious sentiment among investors, despite positive outlooks for other CRE segments like retail and capital markets.
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Stock Movement Drivers
Fundamental Drivers
The -21.3% change in NMRK stock from 1/31/2026 to 5/19/2026 was primarily driven by a -43.7% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.72 | 13.95 | -21.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,161 | 3,475 | 9.9% |
| Net Income Margin (%) | 3.3% | 4.3% | 31.1% |
| P/E Multiple | 30.3 | 17.1 | -43.7% |
| Shares Outstanding (Mil) | 177 | 183 | -3.0% |
| Cumulative Contribution | -21.3% |
Market Drivers
1/31/2026 to 5/19/2026| Return | Correlation | |
|---|---|---|
| NMRK | -21.3% | |
| Market (SPY) | 6.3% | 48.5% |
| Sector (XLRE) | 6.8% | 32.1% |
Fundamental Drivers
The -21.1% change in NMRK stock from 10/31/2025 to 5/19/2026 was primarily driven by a -59.6% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.69 | 13.95 | -21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,983 | 3,475 | 16.5% |
| Net Income Margin (%) | 2.5% | 4.3% | 70.4% |
| P/E Multiple | 42.2 | 17.1 | -59.6% |
| Shares Outstanding (Mil) | 180 | 183 | -1.7% |
| Cumulative Contribution | -21.1% |
Market Drivers
10/31/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| NMRK | -21.1% | |
| Market (SPY) | 8.2% | 46.8% |
| Sector (XLRE) | 9.3% | 35.2% |
Fundamental Drivers
The 28.5% change in NMRK stock from 4/30/2025 to 5/19/2026 was primarily driven by a 92.2% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.86 | 13.95 | 28.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,739 | 3,475 | 26.9% |
| Net Income Margin (%) | 2.2% | 4.3% | 92.2% |
| P/E Multiple | 30.2 | 17.1 | -43.6% |
| Shares Outstanding (Mil) | 170 | 183 | -6.7% |
| Cumulative Contribution | 28.5% |
Market Drivers
4/30/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| NMRK | 28.5% | |
| Market (SPY) | 33.8% | 49.5% |
| Sector (XLRE) | 10.1% | 43.8% |
Fundamental Drivers
The 128.4% change in NMRK stock from 4/30/2023 to 5/19/2026 was primarily driven by a 39.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.11 | 13.95 | 128.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,706 | 3,475 | 28.4% |
| Net Income Margin (%) | 3.1% | 4.3% | 39.7% |
| P/E Multiple | 12.6 | 17.1 | 35.7% |
| Shares Outstanding (Mil) | 171 | 183 | -6.1% |
| Cumulative Contribution | 128.4% |
Market Drivers
4/30/2023 to 5/19/2026| Return | Correlation | |
|---|---|---|
| NMRK | 128.4% | |
| Market (SPY) | 83.3% | 52.0% |
| Sector (XLRE) | 29.1% | 57.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NMRK Return | 157% | -57% | 40% | 18% | 36% | -17% | 108% |
| Peers Return | 62% | -37% | 19% | 19% | 12% | -17% | 34% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| NMRK Win Rate | 75% | 33% | 50% | 58% | 58% | 60% | |
| Peers Win Rate | 65% | 33% | 53% | 58% | 53% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| NMRK Max Drawdown | -17% | -60% | -43% | -20% | -31% | -22% | |
| Peers Max Drawdown | -14% | -46% | -35% | -19% | -30% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CBRE, JLL, CWK, CIGI, MMI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/19/2026 (YTD)
How Low Can It Go
| Event | NMRK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.6% | 23.1% |
| Time to Breakeven | 100 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -23.7% | -9.5% |
| % Gain to Breakeven | 31.0% | 10.5% |
| Time to Breakeven | 9 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.9% | -6.7% |
| % Gain to Breakeven | 69.2% | 7.1% |
| Time to Breakeven | 213 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -56.4% | -24.5% |
| % Gain to Breakeven | 129.1% | 32.4% |
| Time to Breakeven | 1058 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.6% | -33.7% |
| % Gain to Breakeven | 366.6% | 50.9% |
| Time to Breakeven | 414 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.1% | -19.2% |
| % Gain to Breakeven | 39.1% | 23.8% |
| Time to Breakeven | 43 days | 105 days |
In The Past
Newmark's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.6% gain to breakeven.
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Asset Allocation
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| Event | NMRK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.4% | -18.8% |
| % Gain to Breakeven | 43.6% | 23.1% |
| Time to Breakeven | 100 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -23.7% | -9.5% |
| % Gain to Breakeven | 31.0% | 10.5% |
| Time to Breakeven | 9 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.9% | -6.7% |
| % Gain to Breakeven | 69.2% | 7.1% |
| Time to Breakeven | 213 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -56.4% | -24.5% |
| % Gain to Breakeven | 129.1% | 32.4% |
| Time to Breakeven | 1058 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.6% | -33.7% |
| % Gain to Breakeven | 366.6% | 50.9% |
| Time to Breakeven | 414 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.1% | -19.2% |
| % Gain to Breakeven | 39.1% | 23.8% |
| Time to Breakeven | 43 days | 105 days |
In The Past
Newmark's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Newmark (NMRK)
Newmark Group, Inc. provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services. Its occupier services and products comprise tenant representation; real estate management technology systems; workplace and occupancy strategy; global corporate consulting; project management; account and transaction management; and lease administration and facilities management services. The company provides its services to commercial real estate tenants, investors, owners, occupiers, and developers, as well as lenders and multi-national corporations. As of December 31, 2021, it operated approximately 160 offices on four continents. The company was formerly known as Newmark Knight Frank and changed its name to Newmark Group, Inc. in October 2017. Newmark Group, Inc. was founded in 1929 and is based in New York, New York.
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Here are 1-3 brief analogies for Newmark (NMRK):
The Goldman Sachs of commercial real estate.
Like a CBRE or JLL, but perhaps with a stronger focus on capital markets and advisory services.
A commercial real estate version of Accenture or Deloitte, providing strategic consulting, technology solutions, and project management for property needs.
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- Capital Markets Services: Facilitates investment, debt and structured finance, and loan sales for commercial real estate.
- Agency Leasing: Represents owners in the leasing of their commercial properties.
- Property Management: Manages the operations, maintenance, and day-to-day needs of commercial properties.
- Valuation and Advisory: Provides property appraisals, due diligence consulting, and strategic real estate advice.
- Financing and Brokering: Offers government-sponsored enterprise lending, loan servicing, mortgage brokering, and equity-raising services.
- Tenant Representation: Assists commercial real estate tenants in identifying and securing suitable properties.
- Workplace and Occupancy Strategy: Develops strategies to optimize workspace utilization and enhance employee experience.
- Project Management: Oversees real estate projects, ensuring timely and budget-compliant completion.
- Lease Administration and Facilities Management: Manages lease agreements and the operational aspects of corporate facilities.
- Real Estate Technology Systems: Provides technological solutions for real estate management and operations.
- Global Corporate Consulting: Offers comprehensive real estate consulting services to multinational corporations.
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Barry M. Gosin
Chief Executive Officer and Chairman of Newmark & Company Real Estate, Inc.
Barry M. Gosin has served as Newmark's Chief Executive Officer since 1979. He was instrumental in guiding the company's expansion, including spearheading Newmark's sale to BGC Partners, Inc. in 2011. He also led Newmark's initial public offering in 2017 and its subsequent spin-off from BGC in 2018. In February 2025, Gosin assumed the additional role of Chairman of Newmark's operating company, Newmark & Company Real Estate, Inc..
Michael Rispoli
Chief Financial Officer
Michael Rispoli serves as the Chief Financial Officer of Newmark Group, Inc.. He joined Newmark in April 2012. Prior to this, he was the Chief Financial Officer of Grubb & Ellis from August 2010 and held various roles with the firm since May 2007, including CFO of its investment management divisions. Before the sale of Grubb & Ellis's assets to BGC Partners in April 2012, he successfully managed a convertible note offering and the sale of an asset management business and a real estate mutual fund company. From 2000 to 2007, Rispoli was Executive Director and Corporate Controller at Conexant Systems, Inc., a publicly traded semiconductor company. He began his career at PricewaterhouseCoopers as a manager of business assurance.
Stephen Merkel
Chairman of the Board of Directors, Executive Vice President and Chief Legal Officer
Stephen Merkel has been with Newmark since its acquisition by BGC Partners Inc. in 2011. In February 2025, he was named Chairman of the Board of Directors. He also holds positions as Executive Vice Chairman, Executive Managing Director, and General Counsel for the Cantor Fitzgerald LP group of companies, which includes Newmark Group Inc., BGC Group Inc., and Cantor Fitzgerald & Co. He has been a close advisor to Howard Lutnick for over 30 years.
Luis Alvarado
Chief Operating Officer
Luis Alvarado serves as the Chief Operating Officer of Newmark Group, Inc.. He works closely with the CEO, CFO, and other senior management to oversee operations and drive strategic initiatives.
Roger Anscher
Chief Administrative Officer
Roger Anscher is the Chief Administrative Officer at Newmark Group, Inc.. He is responsible for managing various administrative functions and ensuring operational efficiency within the company.
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Newmark Group, Inc. (NMRK) faces several key risks inherent to its commercial real estate services business. These risks are primarily driven by the cyclical nature of the real estate market, broader economic conditions, and the company's financial structure.
- Commercial Real Estate Market Sensitivity and Economic Volatility: Newmark's business is highly susceptible to fluctuations in the commercial real estate (CRE) market and overall economic conditions. Rising interest rates significantly increase borrowing costs, which can deter investment, reduce transaction volumes, and exert downward pressure on property values. Inflation also impacts construction and operating costs, as well as rent adjustments and property valuations. Economic downturns and changes in market supply and demand can lead to higher vacancy rates, reduced rent collection, and decreased demand for commercial properties, directly affecting Newmark's leasing, capital markets, and property management services.
- High Leverage and Debt Burden: Newmark carries a significant level of debt, with a reported Debt-to-Equity (D/E) ratio that is considerably higher than the Real Estate sector's average. This high leverage amplifies financial risk, particularly in an environment of rising interest rates, as it increases the cost of servicing debt and can limit the company's financial flexibility to respond to economic shifts or pursue new opportunities. This financial structure has even placed the company in a "financial distress zone" according to some risk measures.
- Regulatory Changes and Cybersecurity Risks: As a diverse commercial real estate advisory firm, Newmark is subject to a wide array of laws, rules, and regulations across its various business lines and international operations. Changes in these regulations could impact its operations and financial performance. Additionally, the company faces the ongoing threat of cybersecurity attacks, which could disrupt business operations, lead to the disclosure of confidential information, damage client trust, and incur regulatory penalties.
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Newmark (NMRK) operates in various segments of the commercial real estate services market. The addressable markets for its main products and services are sized as follows:
Commercial Real Estate Brokerage and Capital Markets
- Global: The global real estate agency and brokerage market was valued at USD 1,325.5 billion in 2022 and is projected to reach USD 2,532.3 billion by 2032. The global commercial real estate service market was estimated at USD 826.36 billion in 2025 and is expected to grow to USD 1,480.63 billion by 2032.
- U.S.: The United States real estate services market was valued at USD 159.72 billion in 2025 and is forecast to reach USD 217.63 billion by 2031. Brokerage services constituted 43.9% of this market in 2025. The United States commercial real estate market size, in terms of transaction value, is expected to increase from USD 1.66 trillion in 2024 to USD 1.89 trillion by 2029.
Property and Facilities Management
- Global: The global facility management market was valued at USD 1.6 trillion in 2023 and is estimated to reach USD 3.8 trillion by 2032. The global property management market size was USD 23.03 billion in 2025 and is projected to increase to approximately USD 38.48 billion by 2034.
- U.S.: The U.S. facility management market was valued at USD 365.93 billion in 2025 and is estimated to grow to USD 434.16 billion by 2031. The U.S. property management industry generated approximately USD 134.2 billion in annual revenue in 2025.
Valuation and Advisory Services
- Global: The global real estate consulting service market size was valued at USD 75.4 billion in 2023 and is projected to reach USD 125.7 billion by 2032. The global commercial real estate appraisal services market size was estimated at USD 4.14 billion in 2025 and is expected to reach USD 6.39 billion by 2032.
- U.S.: The Real Estate Appraisal market in the U.S. was valued at USD 10.0 billion in 2025.
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Newmark (NMRK) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Sustained Growth in Capital Markets and Leasing: Newmark has consistently demonstrated strong double-digit revenue growth in both its capital markets and leasing segments, outperforming industry averages. This momentum, observed through late 2024 and 2025, is anticipated to continue, contributing significantly to overall revenue expansion.
- Expansion into High-Growth Alternative Asset Classes, especially Data Centers: The company is strategically positioned to capitalize on high-growth sectors, particularly data centers and logistics hubs. Newmark has closed substantial data center deals, with demand fueled by advancements in artificial intelligence and digital infrastructure, and expects this trend to remain a significant growth driver.
- International Market Expansion: Newmark is actively increasing its global footprint, with non-U.S. revenues growing and strategic expansions in Europe and Asia-Pacific through new brokerage operations and acquisitions. This international growth is a key component of its long-term strategy.
- Growth of Recurring Revenue Streams through Management Services, Servicing, and Strategic Acquisitions: The company has seen consistent year-on-year improvement in its Management Services, Servicing, and other recurring revenue businesses. Strategic acquisitions, such as RealFoundations in October 2025, are specifically aimed at enhancing these recurring revenue streams and expanding its "Investor Solutions" suite, with a goal of exceeding $2 billion in recurring revenue by 2029.
- Leveraging Technology and AI-Driven Demand: Newmark is investing in technology and data analytics to enhance its service delivery and provide clients with advanced solutions. Furthermore, AI-led demand is noted as a factor fueling strong results in office leasing, data centers, capital markets, and valuation, positioning technology as an integral part of future growth.
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Share Repurchases
- Newmark's Board of Directors increased the share repurchase authorization to $400 million on February 18, 2026.
- In 2025, Newmark used $127.1 million for share repurchases.
- On May 19, 2025, the company repurchased approximately 11 million shares from Howard W. Lutnick for about $127.0 million, as part of its existing stock repurchase authorization.
Outbound Investments
- Newmark completed two acquisitions in 2025.
- On October 3, 2025, Newmark acquired RealFoundations, a global real estate consulting and managed services firm, to enhance its investor and occupier solutions and grow recurring management services and servicing revenue.
- In December 2025, Newmark acquired Catella Valuation Advisory. The company utilized $53.4 million in net cash payments for acquisitions in 2025.
Capital Expenditures
- Newmark used $220.2 million in 2025 primarily for hiring revenue-generating professionals, reflecting an investment in growth.
- The company's capital allocation strategy includes growth investments, shareholder returns, and maintenance capital expenditures.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Newmark Earnings Notes | 12/27/2025 | |
| With Newmark Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| Big Move for NMRK, but Do NEM's Margins and Growth Give It the Edge? | 08/18/2025 | |
| With NMRK Up 40% in a Month, Is It Time to Compare It Against RYN? | 08/18/2025 | |
| How Does Newmark Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Better Bet Than NMRK Stock: Pay Less Than Newmark To Get More From VST, BMRN | 08/12/2025 | |
| Newmark (NMRK) Net Income Comparison | 08/08/2025 | |
| Newmark (NMRK) Operating Income Comparison | 08/08/2025 | |
| Newmark (NMRK) Operating Cash Flow Comparison | 08/08/2025 | |
| ARTICLES | ||
| Small Cap Stocks Trading At 52-Week High | 08/08/2025 |
Trade Ideas
Select ideas related to NMRK.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03272026 | SBAC | SBA Communications | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 32.4% | 32.4% | 0.0% |
| 03132026 | HIW | Highwoods Properties | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 13.3% | 13.3% | -4.1% |
| 03062026 | ARE | Alexandria Real Estate Equities | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -18.9% | -18.9% | -19.1% |
| 03062026 | VNO | Vornado Realty Trust | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 11.0% | 11.0% | -8.3% |
| 02272026 | KRC | Kilroy Realty | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 13.7% | 13.7% | -5.4% |
| 05312022 | NMRK | Newmark | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -23.8% | -47.3% | -52.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.68 |
| Mkt Cap | 3.8 |
| Rev LTM | 8,135 |
| Op Inc LTM | 438 |
| FCF LTM | 174 |
| FCF 3Y Avg | 179 |
| CFO LTM | 243 |
| CFO 3Y Avg | 241 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.1% |
| Rev Chg 3Y Avg | 9.1% |
| Rev Chg Q | 16.7% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Inc Chg LTM | 25.6% |
| Op Inc Chg 3Y Avg | 9.2% |
| Op Mgn LTM | 4.5% |
| Op Mgn 3Y Avg | 3.9% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 3.5% |
| CFO/Rev 3Y Avg | 3.4% |
| FCF/Rev LTM | 2.3% |
| FCF/Rev 3Y Avg | 2.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.8 |
| P/S | 0.8 |
| P/Op Inc | 10.8 |
| P/EBIT | 11.5 |
| P/E | 22.9 |
| P/CFO | 16.3 |
| Total Yield | 3.0% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -15.4% |
| 3M Rtn | -2.1% |
| 6M Rtn | -11.9% |
| 12M Rtn | 9.9% |
| 3Y Rtn | 63.0% |
| 1M Excs Rtn | -19.2% |
| 3M Excs Rtn | -16.0% |
| 6M Excs Rtn | -24.7% |
| 12M Excs Rtn | -15.1% |
| 3Y Excs Rtn | -7.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Real estate services | 2,739 | 2,470 | |||
| Commercial mortgage origination, net | 358 | 406 | |||
| Investment sales | 606 | 758 | |||
| Leasing and other commissions | 832 | 827 | 514 | ||
| Management services, servicing fees and other | 909 | 916 | 626 | ||
| Capital markets | 454 | ||||
| Gains from mortgage banking activities/origination, net | 311 | ||||
| Total | 2,739 | 2,470 | 2,706 | 2,906 | 1,905 |
Price Behavior
Price Behavior
| Market Price | $13.95 | |
| Market Cap ($ Bil) | 2.5 | |
| First Trading Date | 12/15/2017 | |
| Distance from 52W High | -28.2% | |
| 50 Days | 200 Days | |
| DMA Price | $15.27 | $16.67 |
| DMA Trend | up | up |
| Distance from DMA | -8.6% | -16.3% |
| 3M | 1YR | |
| Volatility | 39.8% | 39.2% |
| Downside Capture | 184.17 | 156.25 |
| Upside Capture | 118.11 | 138.62 |
| Correlation (SPY) | 51.1% | 47.7% |
NMRK Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.84 | 1.40 | 1.61 | 1.52 | 1.57 | 1.42 |
| Up Beta | 1.61 | 1.60 | 1.51 | 1.60 | 1.95 | 1.33 |
| Down Beta | 3.77 | 1.16 | 0.67 | 0.88 | 1.49 | 1.36 |
| Up Capture | 131% | 163% | 183% | 162% | 182% | 464% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 23 | 32 | 58 | 127 | 381 |
| Down Capture | 470% | 113% | 193% | 167% | 127% | 109% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 20 | 32 | 66 | 123 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NMRK | |
|---|---|---|---|---|
| NMRK | 21.7% | 39.2% | 0.59 | - |
| Sector ETF (XLRE) | 8.3% | 13.6% | 0.34 | 45.3% |
| Equity (SPY) | 25.0% | 12.1% | 1.55 | 47.9% |
| Gold (GLD) | 40.0% | 26.8% | 1.23 | 1.0% |
| Commodities (DBC) | 49.4% | 18.5% | 2.03 | -22.8% |
| Real Estate (VNQ) | 9.7% | 13.4% | 0.45 | 50.7% |
| Bitcoin (BTCUSD) | -25.6% | 41.9% | -0.59 | 19.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NMRK | |
|---|---|---|---|---|
| NMRK | 2.9% | 42.7% | 0.20 | - |
| Sector ETF (XLRE) | 4.8% | 19.0% | 0.15 | 55.9% |
| Equity (SPY) | 14.2% | 17.0% | 0.65 | 55.6% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 7.9% |
| Commodities (DBC) | 11.0% | 19.4% | 0.45 | 9.1% |
| Real Estate (VNQ) | 4.0% | 18.8% | 0.11 | 59.9% |
| Bitcoin (BTCUSD) | 9.4% | 55.6% | 0.38 | 23.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NMRK | |
|---|---|---|---|---|
| NMRK | 1.4% | 57.1% | 0.26 | - |
| Sector ETF (XLRE) | 6.5% | 20.4% | 0.28 | 48.9% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 50.6% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 2.5% |
| Commodities (DBC) | 8.4% | 17.9% | 0.38 | 20.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 54.8% |
| Bitcoin (BTCUSD) | 67.2% | 66.9% | 1.06 | 17.2% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/25/2026 | -0.5% | -1.0% | 2.4% |
| 10/30/2025 | -3.0% | -7.6% | -7.2% |
| 7/30/2025 | 3.2% | 10.6% | 26.6% |
| 4/30/2025 | -0.6% | -0.2% | 0.1% |
| 2/14/2025 | 6.3% | 2.5% | -8.4% |
| 11/5/2024 | 1.7% | 7.5% | 3.9% |
| 8/2/2024 | -5.3% | -3.4% | 8.8% |
| 5/3/2024 | 0.1% | 3.0% | 1.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 15 |
| # Negative | 12 | 11 | 9 |
| Median Positive | 5.2% | 10.6% | 8.8% |
| Median Negative | -2.0% | -7.6% | -8.4% |
| Max Positive | 14.8% | 30.2% | 82.5% |
| Max Negative | -14.7% | -19.7% | -24.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenues | 3.70 Bil | 3.75 Bil | 3.80 Bil | 15.4% | Higher New | Actual: 3.25 Bil for 2025 | |
| 2026 Adjusted Earnings Per Share | 1.82 | 1.87 | 1.92 | 18.4% | Higher New | Actual: 1.58 for 2025 | |
| 2026 Adjusted Earnings Tax Rate | 13.0% | 14.0% | 15.0% | 0 | Same New | Actual: 14.0% for 2025 | |
| 2026 Adjusted EBITDA | 635.00 Mil | 655.00 Mil | 675.00 Mil | 16.8% | Higher New | Actual: 561.00 Mil for 2025 | |
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Total Revenues | 3.17 Bil | 3.25 Bil | 3.33 Bil | 3.2% | Raised | Guidance: 3.15 Bil for 2025 | |
| 2025 Adjusted Earnings Per Share | 1.53 | 1.58 | 1.63 | 4.0% | Raised | Guidance: 1.52 for 2025 | |
| 2025 Adjusted EBITDA | 543.00 Mil | 561.00 Mil | 579.00 Mil | 2.4% | Raised | Guidance: 548.00 Mil for 2025 | |
| 2025 Adjusted Earnings Tax Rate | 13.0% | 14.0% | 15.0% | ||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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