$1.6 B

MMI Mkt cap, 18-Jul-2018

$174.5 M

Marcus & Millichap Revenue Q1, 2018
Marcus & Millichap Gross profit (Q1, 2018)72.9 M
Marcus & Millichap Gross profit margin (Q1, 2018), %41.8%
Marcus & Millichap Net income (Q1, 2018)18 M
Marcus & Millichap EBIT (Q1, 2018)23.5 M
Marcus & Millichap Cash, 31-Mar-2018199.4 M

Marcus & Millichap Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

435.9 m572.2 m689.1 m717.5 m

Revenue growth, %

31%20%4%

Cost of goods sold

350.1 m423.4 m444.8 m

Gross profit

222.1 m265.7 m272.7 m

Gross profit Margin, %

39%39%38%

EBIT

21.3 m84.6 m114.7 m106.5 m

EBIT margin, %

5%15%17%15%

Interest expense

1.7 m1.7 m1.5 m

Pre tax profit

83 m113.4 m107.1 m

Income tax expense

33.5 m47 m42.4 m

Net Income

8.2 m49.5 m66.4 m64.7 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

112 m114.6 m134.3 m150.9 m146.5 m173.5 m165.9 m164.3 m183.4 m180.6 m153.2 m180.4 m183.3 m174.5 m

Cost of goods sold

67.7 m68.4 m79.6 m92.3 m86.2 m105.6 m102 m96.2 m113.1 m113.9 m89.6 m110.4 m114.8 m101.6 m

Gross profit

44.2 m46.2 m54.7 m58.6 m60.4 m67.9 m63.9 m68.1 m70.3 m66.8 m63.6 m70 m68.5 m72.9 m

Gross profit Margin, %

40%40%41%39%41%39%39%41%38%37%41%39%37%42%

Operating expense total

99.3 m102.5 m112.5 m127.2 m122.8 m144 m138.5 m139.4 m154.6 m155.7 m134.2 m155.4 m158.7 m151.1 m

EBIT

12.6 m12.1 m21.7 m23.7 m23.8 m29.5 m27.4 m24.9 m28.8 m24.9 m19 m25 m24.7 m23.5 m

EBIT margin, %

11%11%16%16%16%17%17%15%16%14%12%14%13%13%

Interest expense

404 k401 k397 k583 k386 k380 k391 k384 k380 k382 k374 k370 k360 k

Pre tax profit

12.9 m11.6 m21.7 m23 m23.3 m29.5 m26.6 m24.7 m29.1 m25.2 m19.5 m25.6 m25.5 m24.3 m

Income tax expense

5.6 m4.8 m8.9 m9.5 m9.6 m11.9 m11.4 m9.9 m11.5 m10.1 m7.5 m10.1 m10 m6.3 m

Net Income

7.3 m6.8 m12.8 m13.5 m13.7 m17.6 m15.2 m14.8 m17.5 m15.1 m12 m15.6 m15.5 m18 m

Marcus & Millichap Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

4.9 m3.2 m3.1 m101 m149.2 m96.2 m187.4 m

Accounts Receivable

694 k

Inventories

5.2 m

Current Assets

119.2 m178.5 m196.1 m234 m

PP&E

7.7 m11.6 m16.4 m

Total Assets

167.3 m233.6 m321.2 m394 m

Accounts Payable

6.9 m9.5 m9.1 m10.1 m

Short-term debt

Current Liabilities

56.8 m67.2 m75 m78.2 m

Long-term debt

Total Liabilities

135.2 m

Additional Paid-in Capital

70.4 m75.1 m80.6 m85.4 m

Retained Earnings

(7.9 m)41.6 m107.9 m172.6 m

Total Equity

62.5 m116.8 m189 m258.9 m

Financial Leverage

2.7 x2 x1.7 x1.5 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

28.7 m83.3 m104.6 m134 m124.1 m84.2 m67.6 m76.9 m92.4 m122 m129 m163.8 m182.7 m199.4 m

Current Assets

39.9 m98.8 m123.8 m154.8 m149.1 m162 m185.6 m167.5 m189.2 m185.6 m204.9 m252.3 m280.5 m309.1 m

PP&E

8 m8.6 m9.7 m12.4 m14.3 m15.6 m16.3 m17.1 m17.1 m

Total Assets

60.8 m146.2 m172.1 m200.2 m217.3 m260.6 m284.2 m297.6 m329.8 m360 m363.5 m399.9 m423.6 m433 m

Accounts Payable

6.8 m8.2 m6.3 m9.7 m10.5 m9.7 m7.6 m8.8 m8.3 m9.9 m8.6 m9.1 m8.6 m6.5 m

Current Liabilities

42.7 m31.6 m40.9 m54.8 m37.9 m58.3 m62.2 m39.9 m53.2 m64.8 m40.9 m58.1 m60.7 m48.3 m

Total Liabilities

57.1 m76.1 m87.3 m100.4 m84.9 m107.9 m113.9 m92.6 m104.8 m118.1 m92.1 m110.3 m116.2 m99.6 m

Additional Paid-in Capital

2.7 m71.2 m73.1 m74.6 m76.7 m79.9 m82.1 m81 m83.2 m84.9 m86 m88.5 m90.7 m90.8 m

Retained Earnings

777 k(1.2 m)11.6 m25.2 m55.3 m72.8 m88 m122.8 m140.3 m155.4 m184.5 m200.1 m215.6 m242.1 m

Total Equity

3.7 m70 m84.8 m99.8 m132.5 m152.7 m170.4 m204.9 m225 m241.9 m271.4 m289.6 m307.3 m333.4 m

Financial Leverage

16.5 x2.1 x2 x2 x1.6 x1.7 x1.7 x1.5 x1.5 x1.5 x1.3 x1.4 x1.4 x1.3 x

Marcus & Millichap Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

8.2 m49.5 m66.4 m64.7 m

Depreciation and Amortization

3 m3.2 m3.3 m4.4 m

Inventories

(2.3 m)

Accounts Payable

(8 m)2.7 m(912 k)964 k

Cash From Operating Activities

96.9 m71.4 m72.1 m74.5 m

Purchases of PP&E

(4.8 m)(2.6 m)(6.8 m)(9.5 m)

Cash From Investing Activities

(4 m)(17.2 m)(126.9 m)19.8 m

Cash From Financing Activities

(6 m)1.8 m(3.1 m)

Income Taxes Paid

35.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

7.3 m6.8 m12.8 m13.5 m13.7 m31.2 m46.4 m14.8 m32.3 m47.5 m12 m27.6 m15.5 m18 m

Depreciation and Amortization

747 k775 k811 k813 k780 k1.6 m2.4 m1 m2 m3.2 m1.3 m2.6 m1.4 m

Accounts Payable

6.3 m9.7 m10.5 m(97 k)(2.6 m)(16 k)(1.5 m)309 k(1.4 m)(989 k)8.6 m(2.7 m)

Cash From Operating Activities

21.9 m38.6 m(19 m)12.3 m41.5 m(37.1 m)462 k(13 m)

Purchases of PP&E

(2.2 m)(3.8 m)(2.3 m)(4.3 m)(7 m)(1.4 m)(3.4 m)(1.4 m)

Cash From Investing Activities

(90.5 m)(123.8 m)689 k(14.5 m)(14.2 m)(19.9 m)(22 m)(6.8 m)

Cash From Financing Activities

3.7 m3.7 m(917 k)(1.5 m)(1.5 m)(1.4 m)(2 m)(1.7 m)

Marcus & Millichap Ratios

USDY, 2018

Financial Leverage

1.3 x
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