Marcus & Millichap, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-1.9M | $-12.4M | $-34.0M | $104.2M | $142.5M | $42.8M | $76.9M | $87.3M |
| Depreciation & Amortization | $12.1M | $16.6M | $13.6M | $13.4M | $11.7M | $10.9M | $8.0M | $6.3M |
| Depreciation | $10.0M | $9.4M | $8.9M | $7.5M | $7.3M | — | — | — |
| Amortization | $2.1M | $7.2M | $4.7M | $4.7M | $3.8M | $4.3M | — | $314.0K |
| Stock-Based Compensation | $24.2M | $23.8M | $24.1M | $17.3M | $10.4M | $9.9M | $9.3M | $12.0M |
| Net Cash from Operating Activities | $66.7M | $21.7M | $-72.4M | $13.6M | $255.9M | $38.1M | $25.3M | $117.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $7.9M | $7.9M | $9.4M | $11.7M | $6.9M | $6.9M | $8.8M | $8.1M |
| Business Acquisitions | — | $0 | $0 | $12.5M | $-229.0K | $16.3M | $6.1M | $14.9M |
| Net Cash from Investing Activities | $-3.8M | $-9.9M | $74.9M | $-54.0M | $-108.4M | $-17.2M | $-3.4M | $-118.0M |
| Financing Activities | ||||||||
| Dividends Paid | $20.6M | $20.2M | $20.1M | $60.4M | $0 | $0 | — | — |
| Stock Repurchases | $25.4M | $785.0K | $39.4M | $29.1M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $-54.6M | $-28.8M | $-67.7M | $-105.6M | $-5.9M | $-10.3M | $-3.9M | $-5.4M |
| Net Change in Cash | $8.5M | $-17.3M | $-65.1M | $-146.3M | $139.0M | $10.5M | $18.0M | $-6.1M |
| Free Cash Flow | $58.8M | $13.8M | $-81.8M | $2.0M | $249.0M | $31.1M | $16.5M | $109.2M |