Marcus & Millichap (MMI) Operating Expenses (2012 - 2026)

Marcus & Millichap has disclosed Operating Expenses across 15 years of filings, most recently posting $177.2 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $177.2 million, up 8.91% year-over-year; the trailing twelve-month figure through Mar 2026 was $783.4 million (up 5.5% YoY), and the FY2025 annual result was $768.9 million, up 5.47% from the prior year.
• Operating Expenses came in at $177.2 million for Q1 2026 at Marcus & Millichap, down from $228.5 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $339.2 million in Q2 2022 to a low of $149.2 million in Q1 2024.
• The 5-year median for Operating Expenses is $181.3 million (2025), against an average of $208.5 million.
• Across the five-year window, Operating Expenses soared 68.04% in 2022 and slumped 48.84% in 2023, its largest moves.
• Marcus & Millichap's Operating Expenses stood at $256.6 million in 2022, then slipped by 28.51% to $183.4 million in 2023, then rose by 27.22% to $233.4 million in 2024, then decreased by 2.08% to $228.5 million in 2025, then declined by 22.44% to $177.2 million in 2026.
• The last three Operating Expenses figures came in at $177.2 million (Q1 2026), $228.5 million (Q4 2025), and $196.3 million (Q3 2025), per Business Quant data.