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

Marcus & Millichap has reported Operating Expenses for 15 years, with the latest figure at $177.2 million in Q1 2026.

• Quarterly Operating Expenses rose 8.91% year-over-year to $177.2 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $783.4 million (up 5.5% YoY) and the FY2025 annual result came in at $768.9 million, up 5.47% from the prior year.
• Operating Expenses slipped to $177.2 million in Q1 2026 per MMI's latest filing, from $228.5 million in the prior quarter.
• Over five years, Operating Expenses peaked at $339.2 million in Q2 2022 and troughed at $149.2 million in Q1 2024.
• A 5-year average of $208.5 million and a median of $181.3 million in 2025 frame the typical range for Operating Expenses.
• The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 68.04% in 2022, then slumped 48.84% in 2023.
• Over 5 years, Operating Expenses stood at $256.6 million in 2022, then declined by 28.51% to $183.4 million in 2023, then advanced by 27.22% to $233.4 million in 2024, then dropped by 2.08% to $228.5 million in 2025, then retreated by 22.44% to $177.2 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $177.2 million, $228.5 million, and $196.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.