Newmark (NMRK)


Market Price (11/10/2026): $12.07 | Market Cap: $2.2 BilSector: Real Estate | Industry: Real Estate Services

Newmark (NMRK)


Market Price (11/10/2026): $12.07
Market Cap: $2.2 Bil
Sector: Real Estate
Industry: Real Estate Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 37%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends 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 returns
2Y Excs Rtn is -45%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 93%

Key risks
NMRK 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.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 37%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 22%
3 Low stock price volatility
Vol 12M is 41%
4 Megatrend and thematic drivers
Megatrends include E-commerce Logistics & Data Centers, and Smart Buildings & Proptech. Themes include E-commerce Logistics REITs, Data Center REITs, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -45%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 93%
7 Key risks
NMRK 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.

NMRK in ETFs

Weight = NMRK's share of each fund

VTI0.00%
ITOT0.00%
IWM0.06%
VYM0.01%
VB0.02%
VNQ0.12%
IWN0.11%
VTWO0.06%
+9 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/4/2026

Newmark (NMRK) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Revised Full-Year 2026 Guidance and Macroeconomic Concerns: Newmark lowered its full-year 2026 revenue guidance to between $3.7 billion and $3.8 billion, a decrease from its previous outlook of $3.775 billion to $3.875 billion, and adjusted EPS guidance to between $1.80 and $1.90, down from $1.87 to $1.98. This revision, despite a strong Q3 2026 performance with record revenue of $973.2 million (up 12.7% year-over-year) and adjusted EPS of $0.48, was attributed to macroeconomic volatility and uncertainty in transaction closings, causing the stock to fall sharply following the Q3 2026 earnings report on October 29, 2026.

2. Weakness in Capital Markets and Cautious 2027 Outlook: The company experienced a 4.4% decline in Capital Markets revenue in fiscal Q3 2026, primarily due to lower loan origination activity and an approximate 30% contraction in GSE industry activity. Furthermore, Newmark's management projected that Capital Markets volumes could remain under pressure through at least the first half of 2027, with overall 2027 earnings potentially fluctuating by ±10% compared to record 2026 results, excluding new acquisitions.

Show more
Updated on 11/4/2026

Newmark (NMRK) stock has lost about 20% since 7/31/2026 because of the following key factors:

1. Revised Full-Year 2026 Guidance and Macroeconomic Concerns: Newmark lowered its full-year 2026 revenue guidance to between $3.7 billion and $3.8 billion, a decrease from its previous outlook of $3.775 billion to $3.875 billion, and adjusted EPS guidance to between $1.80 and $1.90, down from $1.87 to $1.98. This revision, despite a strong Q3 2026 performance with record revenue of $973.2 million (up 12.7% year-over-year) and adjusted EPS of $0.48, was attributed to macroeconomic volatility and uncertainty in transaction closings, causing the stock to fall sharply following the Q3 2026 earnings report on October 29, 2026.

2. Weakness in Capital Markets and Cautious 2027 Outlook: The company experienced a 4.4% decline in Capital Markets revenue in fiscal Q3 2026, primarily due to lower loan origination activity and an approximate 30% contraction in GSE industry activity. Furthermore, Newmark's management projected that Capital Markets volumes could remain under pressure through at least the first half of 2027, with overall 2027 earnings potentially fluctuating by ±10% compared to record 2026 results, excluding new acquisitions.

3. Elevated Interest Rates and Commercial Real Estate Headwinds: The broader commercial real estate market faced significant headwinds from elevated interest rates, with the 10-year Treasury reaching 5.23% on October 9, 2026. This contributed to increased credit pressure, as 75% of maturing Class-A commercial mortgage-backed securities (CMBS) office loans would require fresh equity to refinance at current rates. Additionally, CMBS delinquency rates rose 11.64% in 2026 through September, reaching 8.02%, with the office sector being the most distressed at 12.33%.

4. CEO Transition Risk: The announcement that CEO Barry Gosin will step down at the end of 2026, initiating a search for his successor, introduced an element of leadership transition risk and investor uncertainty.

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Stock Movement Drivers

Fundamental Drivers

The -19.2% change in NMRK stock from 7/31/2026 to 11/9/2026 was primarily driven by a -20.4% change in the company's P/E Multiple.
(LTM values as of)731202611092026Change
Stock Price ($)14.9412.07-19.2%
Change Contribution By: 
Total Revenues ($ Mil)3,4753,6043.7%
Net Income Margin (%)4.3%4.1%-4.3%
P/E Multiple18.314.5-20.4%
Shares Outstanding (Mil)1831792.3%
Cumulative Contribution-19.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/9/2026
ReturnCorrelation
NMRK-19.2% 
Market (SPY)0.8%28.0%
Sector (XLRE)-1.0%37.9%

Fundamental Drivers

The -24.5% change in NMRK stock from 4/30/2026 to 11/9/2026 was primarily driven by a -36.5% change in the company's P/E Multiple.
(LTM values as of)430202611092026Change
Stock Price ($)16.0012.07-24.5%
Change Contribution By: 
Total Revenues ($ Mil)3,2943,6049.4%
Net Income Margin (%)3.8%4.1%7.4%
P/E Multiple22.914.5-36.5%
Shares Outstanding (Mil)1811791.2%
Cumulative Contribution-24.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/9/2026
ReturnCorrelation
NMRK-24.5% 
Market (SPY)5.0%25.6%
Sector (XLRE)1.4%42.5%

Fundamental Drivers

The -31.5% change in NMRK stock from 10/31/2025 to 11/9/2026 was primarily driven by a -65.4% change in the company's P/E Multiple.
(LTM values as of)1031202511092026Change
Stock Price ($)17.6212.07-31.5%
Change Contribution By: 
Total Revenues ($ Mil)2,9833,60420.8%
Net Income Margin (%)2.5%4.1%63.0%
P/E Multiple42.014.5-65.4%
Shares Outstanding (Mil)1801790.5%
Cumulative Contribution-31.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/9/2026
ReturnCorrelation
NMRK-31.5% 
Market (SPY)11.3%36.7%
Sector (XLRE)12.1%38.7%

Fundamental Drivers

The 119.8% change in NMRK stock from 10/31/2023 to 11/9/2026 was primarily driven by a 221.1% change in the company's Net Income Margin (%).
(LTM values as of)1031202311092026Change
Stock Price ($)5.4912.07119.8%
Change Contribution By: 
Total Revenues ($ Mil)2,3793,60451.5%
Net Income Margin (%)1.3%4.1%221.1%
P/E Multiple31.414.5-53.6%
Shares Outstanding (Mil)174179-2.6%
Cumulative Contribution119.8%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/9/2026
ReturnCorrelation
NMRK119.8% 
Market (SPY)86.2%50.5%
Sector (XLRE)48.2%55.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NMRK Return157%-57%40%18%36%-30%76%
Peers Return62%-37%19%19%12%-10%46%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
NMRK Win Rate75%33%50%58%58%55% 
Peers Win Rate65%33%53%58%53%51% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
NMRK Max Drawdown-17%-60%-43%-20%-31%-36% 
Peers Max Drawdown-14%-46%-35%-19%-30%-30% 
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 11/9/2026 (YTD)

How Low Can It Go

EventNMRKS&P 500
2025 US Tariff Shock
  % Loss-30.4%-18.8%
  % Gain to Breakeven43.6%23.1%
  Time to Breakeven100 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.7%-9.5%
  % Gain to Breakeven31.0%10.5%
  Time to Breakeven9 days24 days
2023 SVB Regional Banking Crisis
  % Loss-40.9%-6.7%
  % Gain to Breakeven69.2%7.1%
  Time to Breakeven213 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-56.4%-24.5%
  % Gain to Breakeven129.1%32.4%
  Time to Breakeven1058 days427 days
2020 COVID-19 Crash
  % Loss-78.6%-33.7%
  % Gain to Breakeven366.5%50.9%
  Time to Breakeven414 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.1%-19.2%
  % Gain to Breakeven39.1%23.8%
  Time to Breakeven43 days105 days

Compare to CBRE, JLL, CWK, CIGI, MMI

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.

EventNMRKS&P 500
2025 US Tariff Shock
  % Loss-30.4%-18.8%
  % Gain to Breakeven43.6%23.1%
  Time to Breakeven100 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.7%-9.5%
  % Gain to Breakeven31.0%10.5%
  Time to Breakeven9 days24 days
2023 SVB Regional Banking Crisis
  % Loss-40.9%-6.7%
  % Gain to Breakeven69.2%7.1%
  Time to Breakeven213 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-56.4%-24.5%
  % Gain to Breakeven129.1%32.4%
  Time to Breakeven1058 days427 days
2020 COVID-19 Crash
  % Loss-78.6%-33.7%
  % Gain to Breakeven366.5%50.9%
  Time to Breakeven414 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.1%-19.2%
  % Gain to Breakeven39.1%23.8%
  Time to Breakeven43 days105 days

Compare to CBRE, JLL, CWK, CIGI, MMI

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)

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Newmark Group, Inc. (NMRK) is a global provider of comprehensive commercial real estate services. The company acts as a vital intermediary and advisor for a wide range of participants in the commercial real estate market, offering solutions across the entire property lifecycle, from initial transactions and financing to ongoing management and strategic advisory.

Newmark's services are primarily divided into two main categories: those for investors and owners, and those for occupiers. For investors and owners, Newmark offers capital markets services, including investment sales, debt and structured finance, and loan sales. It also provides agency leasing, property management, valuation and advisory, and specialized lending services. For occupiers – businesses that lease or utilize commercial space – the company delivers tenant representation, workplace strategy, project management, lease administration, and global corporate consulting to optimize their real estate portfolios.

The company's primary customers include commercial real estate tenants, investors, property owners, occupiers, and developers, as well as lenders and multi-national corporations. Operating through approximately 160 offices across four continents, Newmark serves a broad international market, leveraging its extensive network to provide specialized commercial real estate expertise globally.

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AI Analysis | Feedback

Here are 1-3 brief analogies for Newmark (NMRK):

  1. The Goldman Sachs of commercial real estate.

  2. Like a CBRE or JLL, but perhaps with a stronger focus on capital markets and advisory services.

  3. A commercial real estate version of Accenture or Deloitte, providing strategic consulting, technology solutions, and project management for property needs.

AI Analysis | Feedback

  • 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.

AI Analysis | Feedback

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.

  1. 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.
  2. 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.
  3. 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.

AI Analysis | Feedback

Newmark (NMRK) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

AI Analysis | Feedback

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.

Better Bets vs. Newmark (NMRK)

Peer Outperformance in Real Estate Services

NMRK has outperformed 65% of its 26 Real Estate Services peers over 5Y. Among the peers that beat it are JLL and CBRE. Real Estate Services ranks 11th of 12 industries in Real Estate by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Real Estate Services constituents that NMRK has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
45%
of 31 industry peers · -29.8% return
3Y
83%
of 29 industry peers · 82.7% return
5Y
65%
of 26 industry peers · -21.3% return
Real Estate Services peers with revenue growth within 4pp of NMRK's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
NMRK Newmark 15.0% 14.5x -29.8%82.7%-21.3% —
JLL Jones Lang LaSalle 11.3% 15.9x 26.9%171.0%40.7% +62pp
CBRE CBRE 13.0% 28.9x -9.5%88.0%30.3% +52pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Real Estate sector, ranked by 5Y. Real Estate Services is NMRK's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care REITs 15 18.7%67.8%68.5% WELL 225% · OHI 152% · CTRE 134%
Retail REITs 23 17.3%43.0%35.7% SKT 139% · SPG 81% · IVT 55%
Hotel & Resort REITs 16 52.0%54.7%13.4% HST 77% · RHP 76% · APLE 65%
Other Specialized REITs 11 0.5%24.6%12.3% IRM 182% · EPR 68% · LAMR 67%
Real Estate Development 6 -0.9%29.7%10.6% JOE 52%
Industrial REITs 11 14.3%36.8%1.9% EGP 17% · STAG 8% · CUBE 5%
Single-Family Residential REITs 4 1.5%4.7%-17.4% AMH -6% · ELS -14% · INVH -21%
Multi-Family Residential REITs 12 -0.8%19.5%-26.4% ESS -3% · VMRK -6% · UDR -19%
Diversified REITs 12 3.3%16.1%-28.9% EPRT 20% · WPC 16%
Office REITs 19 3.0%51.4%-31.4% CDP 47% · CUZ -4% · HIW -4%
Real Estate Services ← 27 -21.5%-18.3%-35.4% JLL 41% · CBRE 30% · COMP -14%
Telecom Tower REITs 3 3.1%7.9%-37.8% AMT -21% · CCI -38% · SBAC -41%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

NMRKCBREJLLCWKCIGIMMIMedian
NameNewmark CBRE Jones La.Cushman .Colliers.Marcus &. 
Mkt Price12.07138.16379.7514.5695.6226.4161.02
Mkt Cap2.240.017.43.44.91.04.2
Rev LTM3,60445,00728,20411,0206,1308278,575
Op Inc LTM2331,1651,46649944211471
FCF LTM7989381,10920024666522
FCF 3Y Avg2651,07181120422236243
CFO LTM8461,4031,35528236074603
CFO 3Y Avg3031,4341,01725830644304

Growth & Margins

NMRKCBREJLLCWKCIGIMMIMedian
NameNewmark CBRE Jones La.Cushman .Colliers.Marcus &. 
Rev Chg LTM20.8%14.8%11.4%10.2%12.4%10.0%11.9%
Rev Chg 3Y Avg15.0%13.0%11.3%4.9%12.5%4.9%11.9%
Rev Chg Q17.0%12.7%11.8%7.7%11.9%7.5%11.9%
QoQ Delta Rev Chg LTM3.7%3.0%2.8%1.9%2.9%1.8%2.9%
Op Inc Chg LTM38.8%-24.4%41.6%8.3%13.9%148.8%26.4%
Op Inc Chg 3Y Avg35.9%17.7%30.8%29.3%7.8%51.0%30.1%
Op Mgn LTM6.5%2.6%5.2%4.5%7.2%1.3%4.9%
Op Mgn 3Y Avg5.5%3.4%4.3%4.2%7.4%-3.6%4.3%
QoQ Delta Op Mgn LTM-0.3%-0.2%0.3%0.1%0.1%0.2%0.1%
CFO/Rev LTM23.5%3.1%4.8%2.6%5.9%9.0%5.3%
CFO/Rev 3Y Avg9.1%3.7%3.9%2.6%5.7%5.3%4.6%
FCF/Rev LTM22.1%2.1%3.9%1.8%4.0%8.0%4.0%
FCF/Rev 3Y Avg7.9%2.7%3.1%2.0%4.1%4.2%3.6%

Valuation

NMRKCBREJLLCWKCIGIMMIMedian
NameNewmark CBRE Jones La.Cushman .Colliers.Marcus &. 
Mkt Cap2.240.017.43.44.91.04.2
P/S0.60.90.60.30.81.20.7
P/Op Inc9.234.311.96.811.191.411.5
P/EBIT7.834.311.99.712.637.712.2
P/E14.528.915.949.067.366.238.9
P/CFO2.528.512.912.113.613.513.2
Total Yield8.1%3.5%6.3%2.0%1.8%3.5%3.5%
Dividend Yield1.2%0.0%0.0%0.0%0.3%2.0%0.2%
FCF Yield 3Y Avg10.8%2.6%5.9%6.5%3.6%3.5%4.7%
D/E1.10.30.20.90.60.10.5
Net D/E0.90.20.20.70.6-0.20.4

Returns

NMRKCBREJLLCWKCIGIMMIMedian
NameNewmark CBRE Jones La.Cushman .Colliers.Marcus &. 
1M Rtn-0.4%5.6%26.6%25.3%10.4%-6.5%8.0%
3M Rtn-14.6%-4.0%6.3%9.6%-4.5%-13.2%-4.2%
6M Rtn-26.4%-5.4%17.6%5.8%-0.2%-11.9%-2.8%
12M Rtn-29.8%-9.5%26.8%-7.4%-36.7%-8.2%-8.8%
3Y Rtn82.7%88.0%170.8%92.8%0.7%-7.0%85.4%
1M Excs Rtn5.2%11.2%32.2%30.9%16.0%-0.9%13.6%
3M Excs Rtn-13.4%-1.8%9.1%10.4%-3.2%-10.0%-2.5%
6M Excs Rtn-25.9%-5.0%18.1%6.3%0.3%-11.4%-2.3%
12M Excs Rtn-38.2%-17.7%22.1%-15.4%-46.1%-18.6%-18.1%
3Y Excs Rtn12.1%21.8%101.4%19.7%-59.3%-77.7%15.9%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Real estate services3,2942,7392,4702,706 
Commercial mortgage origination, net    406
Investment sales    758
Leasing and other commissions    827
Management services, servicing fees and other    916
Total3,2942,7392,4702,7062,906


Price Behavior

Price Behavior
Market Price$12.07 
Market Cap ($ Bil)2.2 
First Trading Date12/15/2017 
Distance from 52W High-31.6% 
   50 Days200 Days
DMA Price$12.83$14.62
DMA Trenddowndown
Distance from DMA-6.0%-17.5%
 3M1YR
Volatility42.2%41.3%
Downside Capture176.12181.61
Upside Capture97.84120.91
Correlation (S&P 500)24.4%37.5%
NMRK Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.200.500.900.731.161.35
Up Beta-9.10-1.340.02-0.410.821.24
Down Beta-2.37-0.74-0.710.370.581.25
Up Capture59%16%85%67%115%351%
Bmk +ve Days12182862130427
Stock +ve Days9152552110368
Down Capture141%213%220%153%144%109%
Bmk -ve Days10253664121325
Stock -ve Days12273871137375

[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-28.6%41.3%-0.71-
Sector ETF (XLRE)12.6%14.7%0.5738.7%
Equity (SPY)13.3%13.7%0.6537.3%
Gold (GLD)3.7%28.8%0.1212.6%
Commodities (DBC)38.2%21.3%1.42-30.1%
Real Estate (VNQ)13.7%14.3%0.6543.0%
Bitcoin (BTCUSD)-25.3%43.6%-0.5522.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NMRK
NMRK-3.2%43.2%0.05-
Sector ETF (XLRE)1.8%19.2%-0.0156.1%
Equity (SPY)11.8%17.3%0.5153.6%
Gold (GLD)17.8%19.1%0.759.0%
Commodities (DBC)8.0%19.6%0.293.2%
Real Estate (VNQ)1.5%18.9%-0.0359.7%
Bitcoin (BTCUSD)4.4%51.6%0.2724.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NMRK
NMRK-0.0%56.3%0.22-
Sector ETF (XLRE)7.4%20.4%0.3148.7%
Equity (SPY)15.3%18.0%0.7249.9%
Gold (GLD)12.1%16.5%0.603.4%
Commodities (DBC)7.6%18.1%0.3318.2%
Real Estate (VNQ)6.1%20.7%0.2554.5%
Bitcoin (BTCUSD)60.0%66.3%1.0017.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity6.8 Mil
Short Interest: % Change Since 93020267.5%
Average Daily Volume1.9 Mil
Days-to-Cover Short Interest3.7 days
Basic Shares Quantity178.6 Mil
Short % of Basic Shares3.8%

Earnings Returns History

Updated 11/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/2026-5.6%2.5% 
7/29/2026-8.1%-2.4%-2.3%
4/30/20262.2%5.3%-11.1%
2/25/2026-0.5%-1.0%2.4%
10/30/2025-3.0%-7.6%-7.2%
7/30/20253.2%10.6%26.6%
4/30/2025-0.6%-0.2%0.1%
2/14/20256.3%2.5%-8.4%
...
SUMMARY STATS   
# Positive121413
# Negative131111
Median Positive5.2%6.4%8.8%
Median Negative-3.0%-7.6%-8.4%
Max Positive14.8%30.2%57.2%
Max Negative-14.7%-19.7%-24.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/2026-5.6%2.5% 
7/29/2026-8.1%-2.4%-2.3%
4/30/20262.2%5.3%-11.1%
2/25/2026-0.5%-1.0%2.4%
10/30/2025-3.0%-7.6%-7.2%
7/30/20253.2%10.6%26.6%
4/30/2025-0.6%-0.2%0.1%
2/14/20256.3%2.5%-8.4%
11/5/20241.7%7.5%3.9%
8/2/2024-5.3%-3.4%8.8%
5/3/20240.1%3.0%1.5%
2/22/20244.6%0.9%9.4%
11/1/202314.8%24.5%45.7%
7/28/2023-0.3%11.4%-3.0%
5/5/2023-1.0%-10.8%-0.8%
2/16/2023-4.3%-7.8%-24.8%
10/28/2022-14.7%-19.7%-12.8%
7/29/2022-2.6%-10.3%-11.0%
4/29/2022-9.4%-9.1%-15.6%
2/11/20222.1%5.1%-6.4%
11/5/20216.4%4.9%2.3%
8/6/2021-0.4%-0.4%0.1%
5/6/202111.5%18.3%19.1%
2/18/20215.7%20.3%26.5%
11/5/202013.0%30.2%57.2%
SUMMARY STATS   
# Positive121413
# Negative131111
Median Positive5.2%6.4%8.8%
Median Negative-3.0%-7.6%-8.4%
Max Positive14.8%30.2%57.2%
Max Negative-14.7%-19.7%-24.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/02/202610-K
09/30/202511/10/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202403/03/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/16/202310-K
09/30/202211/07/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202503/02/202610-K
09/30/202511/10/202510-Q
06/30/202508/08/202510-Q
03/31/202505/09/202510-Q
12/31/202403/03/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/10/202410-Q
12/31/202302/29/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/16/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202103/01/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/07/202110-Q
12/31/202003/01/202110-K
09/30/202011/06/202010-Q
06/30/202008/07/202010-Q
03/31/202005/11/202010-Q
12/31/201902/28/202010-K
09/30/201911/08/201910-Q

Recent Forward Guidance

Updated 11/2/2026

Latest: Q3 2026 Earnings Reported 10/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenuesReported3.70 Bil3.75 Bil3.80 Bil-2.0% LoweredGuidance: 3.83 Bil for 2026
2026 Total Revenues YoY ChangeReported0.120.140.15   
2026 Adjusted EBITDAReported629.00 Mil648.00 Mil667.00 Mil-4.0% LoweredGuidance: 675.00 Mil for 2026
2026 Adjusted EBITDA YoY ChangeReported0.120.160.19   
2026 Adjusted Earnings Tax RateReported13.0%14.0%15.0% 0.0%AffirmedGuidance: 14.0% for 2026
2026 Adjusted Earnings Per ShareReported1.81.851.9-3.9% LoweredGuidance: 1.93 for 2026
2026 Adjusted Earnings Per Share YoY ChangeReported0.110.140.17   
2029 Management and Servicing RevenuesReported2.00 Bil2.00 Bil    


Prior: Q2 2026 Earnings Reported 7/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenuesReported3.77 Bil3.83 Bil3.88 Bil0 AffirmedGuidance: 3.83 Bil for 2026
2026 Adjusted EBITDAReported656.00 Mil675.00 Mil694.00 Mil0 AffirmedGuidance: 675.00 Mil for 2026
2026 Adjusted Earnings Tax RateReported13.0%14.0%15.0% 0AffirmedGuidance: 14.0% for 2026
2026 Adjusted Earnings Per ShareReported1.871.931.980 AffirmedGuidance: 1.93 for 2026

Q1 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported3.77 Bil3.83 Bil3.88 Bil2.0% RaisedGuidance: 3.75 Bil for 2026
2026 Adjusted EBITDAReported656.00 Mil675.00 Mil694.00 Mil3.1% RaisedGuidance: 655.00 Mil for 2026
2026 Adjusted Earnings Tax RateReported13.0%14.0%15.0% 0AffirmedGuidance: 14.0% for 2026
2026 Adjusted Earnings Per ShareReported1.871.931.982.9% RaisedGuidance: 1.87 for 2026
2026 Annual Share Count GrowthReported 2.0%    

Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenuesReported3.70 Bil3.75 Bil3.80 Bil15.4% Higher NewGuidance: 3.25 Bil for 2025
2026 Adjusted EBITDAReported635.00 Mil655.00 Mil675.00 Mil16.8% Higher NewGuidance: 561.00 Mil for 2025
2026 Adjusted Earnings Tax RateReported13.0%14.0%15.0% 0.0%Same NewGuidance: 14.0% for 2025
2026 Adjusted Earnings Per ShareReported1.821.871.9218.4% Higher NewGuidance: 1.58 for 2025

Insider Activity

Updated 8/28/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lutnick, Howard W See FootnotesSell100620250.0021,285,533  Form
2Lutnick, Howard W See FootnoteSell100620250.003,134,982  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lutnick, Howard W See FootnotesSell100620250.0021,285,533  Form
2Lutnick, Howard W See FootnoteSell100620250.003,134,982  Form
Core Cache Last Updated: 11/9/2026