Marcus & Millichap, Inc. (MMI) Fair Value 2026

MMI · Real Estate Services ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

6.7 /10

32 fundamental signals · 9 models active

Value Trap Risk

SAFE (12/100)

Quick Summary — As of 2026-08-27, Marcus & Millichap, Inc. (MMI) trades at $31.77, versus a $8.12 median fair value across its 9 active models — 74.5% below the current price. QOC: 6.7/10. Value Trap Risk: 12/100 (SAFE). 9/13 models active. Within that set, the Bayesian DCF component alone returns $9.55.

Key Facts

Ticker
MMI
Price
$31.77
Quality Score
6.7/10
Value Trap Risk
12/100
Models Active
9/13
Last Updated
Strength: 9 independent models provide multi-angle coverage
Risk: Majority of models suggest overvaluation

Is Marcus & Millichap, Inc. (MMI) Undervalued or Overvalued in 2026?

According to CirclFi’s 9-model valuation engine, Marcus & Millichap, Inc. (MMI) appears overvalued as of : the median of 9 independent fair value estimates is $8.12, 74.5% below the current price of $31.77. Estimates range from $3.58 to $24.29. MMI scores 6.7/10 on fundamental quality and 12/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. MMI’s -74.5% gap is wider than that market norm, and the Real Estate Services sector median is -12.7%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Marcus & Millichap, Inc. Stock in 2026? →

What Fair Value Does Each Model Give MMI?

9 Intrinsic Value Models vs. Current Price ($31.77)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $9.55 -69.9%
Intrinsic · High Conviction
 $7.64 -76.0%
Ensemble · Low Conviction
 $8.34 -73.8%
Scenario · High Conviction
 $4.68 -85.3%
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What Is MMI's Fair Value Range?

Spread across 9 independent models · $3.58 to $24.29

CirclFi's 9 active models place Marcus & Millichap, Inc. (MMI) between $3.58 and $24.29 per share, a spread of 255% of the median. The median of that range — $8.12 — is the fair value CirclFi publishes for MMI, against a current price of $31.77.

Low · ML-RIVHigh · FTNN
$3.58median $8.12$24.29
Where the range comes from
Most bearish modelML Residual Income$3.58
Most bullish modelFTNN Topology$24.29
Model agreement0 bullish · 9 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for MMI. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on MMI, not a CirclFi price target. How each model works →

What Is Marcus & Millichap, Inc. (MMI) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, Marcus & Millichap, Inc.'s intrinsic value is estimated at $8.12, suggesting the stock is overvalued at its current price of $31.77. With 9 out of 9 models flagging downside (-74.5% vs price), the market may be pricing in unsustainable growth. Model dispersion is worth noting: FTNN targets $24.29 (-23.6%), versus ML-RIV at $3.58 (-88.7%). This +65.2% range highlights the importance of multi-model analysis rather than relying on any single methodology.

What Do the Models Say About MMI?

9 of 13 models are currently active for MMI. All 9 active models suggest the stock trades above fair value. Taken together, their median fair value for MMI is $8.12 — the figure CirclFi publishes as this stock's fair value. One component of that median, the Bayesian DCF, returns $9.55 on its own, implying -69.9% downside from the current price. See which stocks rank higher →

How Does MMI Rank in Real Estate Services?

Among 51 Real Estate Services stocks, MMI ranks #18 by Quality of Company score. CirclFi's QOC score of 6.7/10 evaluates 32 fundamental signals. A score of 6.7 indicates above-average quality.

As a real estate investment trust, Marcus & Millichap, Inc. operates in a sector where funds from operations (FFO) is a critical driver of valuation. Investors evaluating MMI should weigh these sector-specific dynamics alongside our model-derived fair values.

Is MMI a Value Trap?

CirclFi's Value Trap algorithm assigns MMI a score of 12/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

9 of 13 models are active for Marcus & Millichap, Inc.. Moderate coverage provides meaningful perspective. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Quality of Company (QOC) framework, which evaluates 32 signals including margin stability, revenue growth trajectory, leverage, and free cash flow generation, Marcus & Millichap, Inc. is rated at 6.7/10. This solid-tier score maintains reasonable quality metrics with some areas for improvement.

The gap between the most bullish and bearish model spans +65.2% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every MMI valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across MMI's 9 active models, average confidence is 45%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Marcus & Millichap, Inc. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Real Estate Services Stocks Should You Also Analyze?

11 related Real Estate Services stocks with 13-model coverage

REAXReal REMAX Group Inc.QOC 6.8OPENOpendoor Technologies Inc.QOC 6.6BEKEKE Holdings Inc.QOC 7.1MLPMaui Land & Pineapple Company, Inc.QOC 6.6NMRKNewmark Group, Inc.QOC 7.2FRPHFRP Holdings, Inc.QOC 6.6DUOFangdd Network Group Ltd.QOC 5.8MDRRMedalist Diversified, Inc.QOC 4.6CSGPCoStar Group, Inc.QOC 8.1CHCIComstock Holding Companies, Inc.QOC 8.9IRSIRSA Inversiones y Representaciones Sociedad AnónimaQOC 8.4

Read investment analysis: REAX · OPEN · BEKE · MLP · NMRK · FRPH · DUO · MDRR · CSGP · CHCI · IRS

Which Other Stocks Have a Similar Quality Score to MMI?

7 companies across all industries closest to MMI’s Quality of Company score of 6.7/10.

GTEGran Tierra Energy Inc.QOC 6.7NXDRNextdoor Holdings, Inc.QOC 6.7XBIOXenetic Biosciences, Inc.QOC 6.7TAITTaitron Components IncorporatedQOC 6.7FGBIFirst Guaranty Bancshares, Inc.QOC 6.7INBKFirst Internet BancorpQOC 6.7NVDANVIDIA CorporationQOC 10.0

Read investment analysis: GTE · NXDR · XBIO · TAIT · FGBI · INBK · NVDA

What Else Do Investors Ask About Marcus & Millichap, Inc.’s Valuation?

What is Marcus & Millichap, Inc.'s intrinsic value in 2026?

CirclFi puts Marcus & Millichap, Inc. (MMI)'s intrinsic value at $8.12 — the median of 9 independent model estimates as of 2026-08-27, ranging from $3.58 to $24.29. One component of that median, the Bayesian DCF, runs 10,000 Monte Carlo simulations with jump-diffusion and returns $9.55 on its own. The Quality of Company score is 6.7/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is MMI overvalued or undervalued right now?

At $31.77, 0 of 9 active models suggest MMI may be undervalued, while 9 indicate potential overvaluation. The median of all 9 fair value estimates is $8.12, 74.5% below the current price of $31.77 — a consensus view that MMI is overvalued. The assessment depends on which methodology best fits Marcus & Millichap, Inc.'s business model in Real Estate Services.

What does a Quality of Company score of 6.7 mean for MMI?

Marcus & Millichap, Inc.'s QOC of 6.7/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on MMI?

CirclFi analyzes MMI with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 9 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on MMI?

Of the 9 models currently active on MMI, FTNN Topology is the most bullish at $24.29 per share, and ML Residual Income is the most bearish at $3.58. CirclFi's published fair value for MMI is the median of that range, $8.12, not either extreme. The gap between the two ends equals 255% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is MMI a value trap in 2026?

Marcus & Millichap, Inc.'s Value Trap score is 12/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 9-model valuation engine, Marcus & Millichap, Inc. (MMI) has a median fair value of $8.12 — 74.5% below the current price of $31.77 — as of 2026-08-27.” Source: circlfi.com/stock/MMI/ · Methodology
Primary sources for this MMI valuation
  • Financial statements: Marcus & Millichap, Inc. 10-K and 10-Q filings on SEC EDGAR (CIK 0001578732) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for MMI as of ; valuations recomputed .

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