Douglas Elliman Inc. DOUG
Douglas Elliman Inc. is a holding company that, through its subsidiaries, is engaged in the real estate services business. Douglas Elliman owns Douglas Elliman Realty, LLC, one of the largest residential brokerage companies in the New York metropolitan area, which includes New York City, Long Island, the Hamptons, Westchester, Connecticut and New Jersey, and also conducts operations in Florida, California, Texas, Colorado, Nevada, Massachusetts, Maryland, Virginia, and Washington D.C. We also offer, including through our subsidiaries and ventures, development marketing services and ancillary services, such as mortgage, title and escrow services.
Douglas Elliman Inc. is a Delaware corporation incorporated in 2021 in connection with the separation of Douglas Elliman from Vector Group Ltd., as an independent, publicly traded company, listed on the New York Stock Exchange. On December 29, 2021, Vector Group completed the distribution of the common stock of Douglas Elliman to its stockholders (the "Distribution"), and we began trading on the New York Stock Exchange under the symbol "DOUG" on December 30, 2021.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $995.6M | $955.6M | $1.15B | $1.35B | $774.0M | $784.1M | — |
| SG&A | $111.0M | $117.8M | $125.4M | $131.4M | $92.8M | $76.1M | $96.5M | — |
| Operating income | $45.5M | -$68.8M | -$64.5M | -$4.5M | $102.1M | -$49.3M | -$3.5M | — |
| Interest expense | $5.1M | $2.9M | $28.0K | $148.0K | — | — | — | — |
| Pre-tax income | $17.9M | -$75.9M | -$58.2M | $104.0K | $100.8M | -$46.3M | $8.8M | — |
| Income tax | $3.6M | $1.1M | $15.1M | $6.5M | $2.1M | $44.0K | $354.0K | — |
| Net income | $15.2M | -$76.3M | -$42.6M | -$5.6M | $98.8M | -$46.4M | $8.5M | — |
| EPS, basic | 0.17 | -0.91 | -0.52 | -0.08 | 1.21 | -0.60 | 0.11 | — |
| EPS, diluted | 0.17 | -0.91 | -0.52 | -0.08 | 1.21 | -0.60 | 0.11 | — |
| Shares, diluted (wtd. avg.) | $84.6M | $83.5M | $82.2M | $81.6M | $81.6M | $77.7M | $77.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $115.5M | $135.7M | $119.8M | $171.4M | $228.9M | $106.7M | $79.1M | $92.1M |
| Short-term investments | $0 | $9.8M | $0 | — | — | — | — | — |
| Receivables | $19.9M | $19.6M | $21.8M | $22.2M | $32.5M | $24.4M | — | — |
| Total current assets | $161.3M | $196.1M | $181.3M | $225.1M | $280.8M | $148.4M | — | — |
| Property, plant and equipment | $30.1M | $37.7M | $39.7M | $41.7M | $39.4M | $42.7M | — | — |
| Goodwill | $32.2M | $32.2M | $32.2M | $32.2M | $32.6M | $31.8M | — | — |
| Other intangibles | $71.7M | $72.3M | $5.0M | $5.7M | $6.4M | $310.0K | — | — |
| Total assets | $444.4M | $493.9M | $493.4M | $550.4M | $595.2M | $454.0M | $488.6M | — |
| Accounts payable | $3.8M | $3.1M | $6.1M | $5.5M | $5.9M | $6.3M | — | — |
| Short-term debt | — | — | — | $0 | $12.5M | $12.5M | — | — |
| Total current liabilities | $98.7M | $92.2M | $97.2M | $90.0M | $132.5M | $99.6M | — | — |
| Long-term debt | $0 | $32.7M | $0 | $0 | $176.0K | $12.9M | — | — |
| Total liabilities | $261.1M | $331.5M | $259.3M | $279.9M | $313.3M | $290.4M | — | — |
| Retained earnings | -$108.6M | -$123.9M | -$47.6M | -$5.0M | $622.0K | — | — | — |
| Total equity | $183.9M | $162.2M | $234.2M | $270.5M | $281.9M | $163.6M | $204.3M | $216.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.9M | -$26.0M | -$30.4M | -$14.7M | $127.8M | $31.9M | $7.6M | — |
| Depreciation and amortisation | $8.4M | $7.7M | $8.0M | $8.0M | $8.6M | $8.5M | $8.6M | — |
| Stock-based compensation | $8.6M | $6.6M | $13.1M | $11.1M | $0 | $0 | — | — |
| Capital expenditure | $3.4M | $5.5M | $6.1M | $8.5M | $4.1M | $6.1M | $8.1M | — |
| Investing cash flow | $90.5M | -$6.8M | -$5.2M | -$12.7M | -$8.9M | -$4.1M | -$1.5M | — |
| Financing cash flow | -$96.1M | $45.5M | -$6.2M | -$30.0M | $3.2M | -$143.0K | -$19.1M | — |
| Dividends paid | $0 | $0 | $4.2M | $16.2M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001878897-26-000021.
Others in SIC 6531
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JLL | JONES LANG LASALLE INC | $16.67B | 22.1x | 11.4% |
| COMP | Compass, Inc. | $8.42B | — | 23.7% |
| VAC | MARRIOTT VACATIONS WORLDWIDE Corp | $3.67B | — | 1.0% |
| OPEN | Opendoor Technologies Inc. | $3.06B | — | -15.2% |
| NMRK | NEWMARK GROUP, INC. | $2.72B | 22.4x | 21.9% |
| MMI | Marcus & Millichap, Inc. | $1.21B | — | 8.5% |
| AGNT | AGNT, Inc. | $673.5M | — | 4.5% |
| FTHM | Fathom Holdings Inc. | $23.2M | — | 25.4% |