NEWMARK GROUP, INC. NMRK
Throughout this document Newmark Group, Inc., and where applicable, its consolidated subsidiaries, is referred to as "Newmark," "Company," "we," "us," or "our."
Newmark is a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers. We offer a diverse array of integrated services and products designed to meet the full needs of our clients.
•Capital Markets, consisting of investment sales (including the placement and raising of equity) and commercial mortgage origination (which includes GSEs and FHA lending, as well as the placement of debt, loan sales, and structured finance on behalf of third parties);
•GSEs and FHA multifamily loan servicing, as well as limited loan servicing, special loan servicing, and asset management;
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.77B | $2.27B | $2.07B | $2.30B | $2.50B | $1.44B | $1.84B | $1.70B | $1.60B | $1.35B |
| SG&A | $658.9M | $597.6M | $536.7M | $534.8M | $553.6M | $294.4M | $361.9M | $331.8M | $219.2M | $185.3M |
| Total operating expenses | $3.10B | $2.58B | $2.36B | $2.42B | $2.88B | $1.74B | $2.05B | $1.84B | $1.47B | $1.20B |
| Operating income | $234.0M | $163.0M | $125.2M | $185.6M | $1.25B | $184.0M | $246.2M | $332.6M | $199.8M | $167.4M |
| Interest expense | — | — | $21.7M | $31.0M | $33.5M | $37.7M | $32.1M | $50.2M | $2.8M | $3.8M |
| Pre-tax income | $201.5M | $131.3M | $103.5M | $154.6M | $1.22B | $146.3M | $214.1M | $282.4M | $202.6M | $171.2M |
| Income tax | $46.1M | $45.8M | $41.1M | $42.1M | $243.0M | $37.0M | $52.4M | $90.5M | $57.5M | $4.0M |
| Net income | $126.2M | $85.5M | $62.4M | $112.5M | $978.1M | $109.3M | $117.3M | $106.7M | $144.5M | $168.4M |
| EPS, basic | 0.71 | 0.36 | 0.25 | 0.46 | 3.91 | 0.39 | 0.59 | 0.65 | 1.08 | — |
| EPS, diluted | 0.68 | 0.34 | 0.24 | 0.45 | 3.80 | 0.39 | 0.58 | 0.64 | 0.85 | — |
| Shares, diluted (wtd. avg.) | $253.4M | $177.7M | $176.4M | $245.2M | $195.8M | $179.7M | $185.0M | $163.8M | $138.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $229.1M | $197.7M | $258.7M | $313.0M | $266.5M | $258.4M | $221.9M | $187.4M | $173.4M | $117.6M |
| Short-term investments | — | — | $99.0K | $788.0K | $524.6M | $33.3M | $36.8M | $48.9M | $57.6M | — |
| Total current assets | $2.01B | $1.77B | $1.51B | $1.08B | $2.52B | $1.82B | $1.07B | $1.76B | $825.1M | — |
| Property, plant and equipment | $156.5M | $166.7M | $178.0M | $155.6M | $135.8M | $96.4M | $98.0M | $78.8M | $64.8M | — |
| Goodwill | $802.0M | $770.9M | $776.5M | $705.9M | $657.1M | $560.3M | $557.9M | $515.3M | $477.5M | $412.8M |
| Other intangibles | $76.3M | $64.5M | $83.6M | $81.0M | $76.2M | $44.3M | $45.2M | $35.8M | $24.9M | — |
| Total assets | $5.02B | $4.71B | $4.47B | $3.94B | $5.22B | $3.98B | $3.20B | $3.45B | $2.27B | — |
| Short-term debt | — | — | $0 | $547.8M | $0 | — | — | — | — | — |
| Total current liabilities | $1.91B | $1.78B | $1.49B | $1.58B | $2.19B | $1.71B | $1.05B | $1.66B | $782.6M | — |
| Long-term debt | $671.7M | $670.7M | $547.3M | $0 | $545.2M | $680.4M | $589.3M | $537.9M | $670.7M | — |
| Total liabilities | $3.27B | $3.17B | $2.88B | $2.40B | $3.53B | $3.04B | $2.24B | $2.37B | $2.03B | — |
| Retained earnings | $1.31B | $1.21B | $1.17B | $1.15B | $1.08B | $342.8M | $313.1M | $278.0M | $199.5M | — |
| Total equity | $1.46B | $1.21B | $1.58B | $1.52B | $1.66B | $921.1M | $940.6M | $1.06B | $222.3M | $983.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $172.0M | -$9.9M | -$266.0M | $1.20B | -$48.7M | -$777.7M | $986.8M | -$332.4M | $853.6M | -$644.2M |
| Depreciation and amortisation | $46.4M | $39.8M | $39.2M | $42.4M | $22.0M | $22.9M | $22.7M | $13.7M | $12.2M | $9.9M |
| Capital expenditure | $29.4M | $31.5M | $55.4M | $62.2M | $19.7M | $19.6M | $34.5M | $21.0M | $19.1M | $27.3M |
| Investing cash flow | -$198.1M | -$33.4M | -$49.7M | $308.6M | $453.1M | -$3.6M | -$56.8M | $7.7M | $379.0K | -$34.4M |
| Financing cash flow | -$44.8M | $89.5M | $261.5M | -$1.46B | -$396.3M | $817.8M | -$895.5M | $338.7M | -$798.2M | $636.0M |
| Dividends paid | — | — | — | — | — | — | $0 | $0 | $101.7M | — |
| Buybacks | $127.1M | $212.6M | $37.4M | $294.8M | $290.5M | $6.4M | $37.4M | $486.0K | $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 0001628280-26-013160.
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% |
| MMI | Marcus & Millichap, Inc. | $1.21B | — | 8.5% |
| AGNT | AGNT, Inc. | $673.5M | — | 4.5% |
| DOUG | Douglas Elliman Inc. | $164.5M | 10.6x | 3.8% |
| FTHM | Fathom Holdings Inc. | $23.2M | — | 25.4% |