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NMRK

Newmark Group, Inc.

NMRK

Newmark Group, Inc. • NASDAQ
$17.38 ▼ -0.23% (-0.04)
Market Cap $3.06 B
52w High $19.84
52w Low $9.64
Dividend Yield 0.12%
P/E 30.49
Volume 392.37K
Outstanding Shares 175.89M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $863.46M ▲ $778.301M ▲ $46.154M ▲ 5.345% ▲ $0.26 ▲ $130.619M ▲
Q2-2025 $759.112M ▲ $716.369M ▲ $20.819M ▲ 2.743% ▲ $0.12 ▲ $83.354M ▲
Q1-2025 $665.494M ▼ $683.013M ▼ $-8.766M ▼ -1.317% ▼ $-0.05 ▼ $28.839M ▼
Q4-2024 $872.716M ▲ $768.833M ▲ $45.414M ▲ 5.204% ▲ $0.27 ▲ $148.75M ▲
Q3-2024 $685.912M $644.861M $17.794M 2.594% $0.1 $85.627M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $224.091M ▲ $5.46B ▲ $3.841B ▼ $1.368B ▲
Q2-2025 $195.829M ▲ $5.39B ▲ $3.877B ▲ $1.28B ▼
Q1-2025 $157.078M ▼ $4.848B ▲ $3.301B ▲ $1.321B ▲
Q4-2024 $197.691M ▲ $4.71B ▼ $3.186B ▼ $1.206B ▲
Q3-2024 $178.583M $5.004B $3.525B $1.171B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $58.456M ▲ $112.631M ▲ $-118.014M ▼ $-77.167M ▼ $-82.55M ▼ $104.899M ▲
Q2-2025 $15.949M ▲ $-379.742M ▼ $-6.502M ▼ $428.196M ▲ $41.952M ▲ $-374.298M ▼
Q1-2025 $-15.949M ▼ $-179.404M ▼ $-5.444M ▲ $147.625M ▲ $-37.223M ▼ $-184.848M ▼
Q4-2024 $45.414M ▲ $402.577M ▲ $-6.129M ▲ $-375.921M ▼ $20.527M ▲ $396.448M ▲
Q3-2024 $17.794M $-85.244M $-10.682M $102.065M $6.139M $-94.426M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Investment Advice
Investment Advice
 $160.00M ▲$90.00M ▼$110.00M ▲$160.00M ▲
Leasing And Other Commissions
Leasing And Other Commissions
 $280.00M ▲$210.00M ▼$240.00M ▲$240.00M ▲
Management Services
Management Services
 $230.00M ▲$220.00M ▼$230.00M ▲$240.00M ▲
Mortgage Brokerage And Debt Placement
Mortgage Brokerage And Debt Placement
 $70.00M ▲$40.00M ▼$70.00M ▲$70.00M ▲
Servicing
Servicing
 $30.00M ▲$20.00M ▼$20.00M ▲$40.00M ▲
Servicing Fees And Other
Servicing Fees And Other
 $80.00M ▲$70.00M ▼$70.00M ▲$80.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Newmark’s revenue has been fairly steady over the past several years, with a clear peak around the post‑pandemic rebound and a modest step down since then. The business is still generating healthy levels of fee income, but the environment is clearly not as strong as the 2021 surge. Profitability is the main pressure point. Operating and net income are positive but thin relative to revenue, especially compared with the unusually strong year earlier in the decade. This tells you that the company is managing through a tougher commercial real estate cycle, with less room for error on costs and deal volumes. Earnings are not collapsing, but they are far from the boom levels, and they look quite sensitive to market conditions. Overall, the income statement shows a solid top line in a difficult market, but with tight margins and notable exposure to real estate cycles and interest rate trends.

Balance Sheet

Balance Sheet The balance sheet shows a business with meaningful assets and a solid equity base, but also a noticeable reliance on debt. Total assets have grown over time, and shareholder equity has improved compared with several years ago, which is a positive sign for the company’s capital foundation. However, cash on hand is relatively modest compared with total obligations, and debt has crept up versus the middle of the period. This means the company has some financial flexibility but not an abundance of excess liquidity. Newmark can likely operate comfortably in normal conditions, but a prolonged downturn in commercial real estate transactions or credit markets would increase the strain. In short, the balance sheet is adequate but not ultra‑conservative: equity has strengthened, yet leverage and limited cash cushions remain important watchpoints.

Cash Flow

Cash Flow Newmark’s cash flow pattern is choppy, which is common in transaction‑driven real estate services but still worth noting. One recent year shows very strong cash generation from operations, while several others show outflows, largely driven by swings in working capital and deal timing rather than heavy investment spending. Free cash flow follows the same pattern, with one standout year of strong inflow surrounded by years where the business consumed cash. Capital spending itself is quite modest, so the volatility is more about the ebb and flow of receivables, payables, and deal-related items than big projects. The key takeaway is that the company can generate strong cash in good markets, but its cash flows are not consistently predictable year to year. This makes liquidity management and access to credit particularly important given the uneven cash profile.

Competitive Edge

Competitive Edge Newmark operates in a very competitive global field dominated by a few large real estate service firms, yet it has carved out a meaningful niche. Its long history and recognized brand give it credibility with institutional and corporate clients, and its full-service platform allows it to handle leasing, capital markets, property management, and advisory work under one roof. The firm’s strength lies in combining that breadth with specialization. Dedicated practice groups, such as those focused on technology and media tenants, along with strong capital markets and loan sale capabilities, help differentiate it from more generic brokers. The emphasis on long-term client relationships and cross-selling across service lines supports recurring business, not just one-off transactions. That said, Newmark still faces intense competition from larger, more global peers with deeper balance sheets and broader footprints. Its competitive position is solid but not unassailable, and it is heavily influenced by overall commercial real estate health, interest rates, and investor risk appetite.

Innovation and R&D

Innovation and R&D Newmark is leaning heavily into technology and data as a way to stand out in a commoditized industry. Its proprietary platforms—such as Newlitic and NewliticQuest—aim to give clients a richer, more analytical view of their real estate portfolios, using visualization, scenario planning, and predictive analytics to support decisions on locations, space usage, and costs. The company is also applying artificial intelligence and advanced analytics in specific service lines, such as retail occupier services, to help clients optimize portfolios and better match space with demand. Its growing role in advising on AI data centers and other specialized, technology-heavy assets suggests a deliberate push into higher-growth, more complex property segments where expertise and data matter more than simple brokerage. Looking ahead, success will depend on how widely clients adopt these tools, how quickly Newmark can enhance and integrate them, and whether it can extend this tech-driven edge into international markets and ESG-focused advisory work. The innovation story is promising but still in a build-out phase, with execution risk and adoption risk to watch.

Summary

Newmark today looks like a mature real estate services firm navigating a tougher cycle while investing to modernize its platform. Revenue has held up reasonably well, but profitability is much slimmer than during the post‑pandemic boom, underscoring how sensitive the business is to transaction volumes and financing conditions. Its financial position is acceptable but not bulletproof: equity has improved, yet leverage and uneven cash flows mean the firm must manage liquidity carefully, particularly if commercial property markets remain soft. The business is not in obvious distress, but it does not have an excess of spare financial capacity either. Strategically, Newmark’s core strengths lie in its integrated services, specialized practice groups, and a growing suite of proprietary technology and analytics tools. Its push into AI-related data centers, global corporate services, and international expansion could provide structural growth opportunities if executed well. Overall, the company combines a cyclical earnings profile and moderate balance-sheet risk with a credible strategy focused on technology, specialization, and global reach. The key uncertainties are the pace of recovery in commercial real estate, the durability of client demand in office and related sectors, and Newmark’s ability to turn its tech investments into consistently higher-margin, stickier revenue over time.

NEWS

November 24, 2025 · 9:00 AM UTC

Newmark Acquires Catella Valuation Advisory in Paris, France

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November 10, 2025 · 4:30 AM UTC

Newmark Continues Strategic Debt & Structured Finance Growth in Europe with Senior Hires

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November 5, 2025 · 6:23 PM UTC

Newmark Serves as Real Estate Advisor on $1.8 Billion Strategic Merger Between Sonida Senior Living and CNL Healthcare Properties

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October 30, 2025 · 7:17 PM UTC

Newmark Arranges $600 Million Financing for West Shore Involving Eight Multifamily Properties in the Southeast and Midwest

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October 30, 2025 · 8:03 AM UTC

Newmark Reports Third Quarter 2025 Financial Results

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