Latest Ratios: P/E Ratio 23.0x · EV/EBITDA 9.9x · ROE 7.7%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $4.4B | $2.3B | $1.9B | $2.0B | $3.7B | $1.3B | $2.5B | $1.3B | $2.2B | — |
| Enterprise Value | $4.1B | $6.0B | $4.1B | $3.5B | $3.1B | $5.9B | $3.1B | $3.4B | $2.7B | $3.6B | — |
| P/E Ratio → | 23.01 | 25.50 | 37.68 | 45.67 | 17.71 | 4.92 | 18.69 | 23.21 | 12.53 | 18.71 | — |
| P/S Ratio | 0.73 | 1.32 | 0.83 | 0.78 | 0.72 | 1.26 | 0.69 | 1.12 | 0.64 | 1.38 | — |
| P/B Ratio | 2.26 | 2.51 | 1.49 | 1.22 | 1.28 | 2.20 | 1.39 | 2.59 | 0.84 | 10.72 | — |
| P/FCF | 17.14 | 30.81 | — | — | 1.72 | — | — | 2.62 | — | 2.65 | — |
| P/OCF | 14.22 | 25.55 | — | — | 1.63 | — | — | 2.52 | — | 2.58 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.81 | 1.50 | 1.42 | 1.16 | 2.02 | 1.65 | 1.54 | 1.32 | 2.24 | — |
| EV / EBITDA | 9.87 | 14.56 | 12.16 | 12.08 | 8.91 | 4.27 | 9.88 | 9.06 | 6.28 | 12.11 | — |
| EV / EBIT | 17.51 | 25.84 | 25.16 | 28.11 | 16.87 | 4.68 | 18.49 | 13.88 | 8.12 | 28.45 | — |
| EV / FCF | — | 42.40 | — | — | 2.76 | — | — | 3.59 | — | 4.31 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.6% | 94.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 7.0% | 7.0% | 6.0% | 5.1% | 6.9% | 43.2% | 9.7% | 11.1% | 16.2% | 12.5% | 12.4% |
| Net Profit Margin | 3.8% | 3.8% | 2.2% | 1.7% | 3.1% | 25.8% | 4.2% | 5.3% | 5.2% | 9.1% | 12.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 3.9% | 2.7% | 5.2% | 57.6% | 8.4% | 9.3% | 12.0% | 24.3% | 18.8% |
| ROA | 2.6% | 2.6% | 1.3% | 1.0% | 1.8% | 16.3% | 2.2% | 3.5% | 3.7% | 6.0% | 8.0% |
| ROIC | 5.2% | 5.2% | 3.8% | 3.2% | 4.2% | 28.3% | 5.9% | 7.6% | 11.0% | 10.9% | 11.3% |
| ROCE | 6.6% | 6.6% | 5.5% | 4.7% | 6.9% | 47.3% | 8.3% | 12.5% | 20.3% | 15.3% | 16.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.14 | 1.14 | 1.33 | 1.11 | 0.92 | 1.44 | 2.15 | 1.13 | 0.96 | 7.31 | 0.26 |
| Debt / EBITDA | 4.82 | 4.82 | 6.00 | 6.01 | 4.01 | 1.75 | 6.36 | 2.89 | 3.51 | 5.08 | 1.08 |
| Net Debt / Equity | — | 0.94 | 1.20 | 1.00 | 0.77 | 1.33 | 1.95 | 0.96 | 0.88 | 6.72 | 0.19 |
| Net Debt / EBITDA | 3.98 | 3.98 | 5.41 | 5.44 | 3.35 | 1.61 | 5.76 | 2.46 | 3.23 | 4.67 | 0.80 |
| Debt / FCF | — | 11.58 | — | — | 1.04 | — | — | 0.98 | — | 1.66 | — |
| Interest Coverage | 7.20 | 7.20 | 5.13 | 5.76 | 5.99 | 37.48 | 4.50 | 7.67 | 6.62 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.25 | 2.25 | 1.00 | 1.01 | 0.68 | 1.15 | 1.07 | 1.03 | 1.06 | 1.05 | 1.05 |
| Quick Ratio | 2.25 | 2.25 | 1.00 | 1.01 | 0.67 | 1.15 | 1.07 | 1.03 | 0.42 | 0.52 | 0.23 |
| Cash Ratio | 0.39 | 0.39 | 0.11 | 0.11 | 0.15 | 0.33 | 0.13 | 0.19 | 0.10 | 0.23 | 0.05 |
| Asset Turnover | — | 0.66 | 0.58 | 0.55 | 0.69 | 0.56 | 0.48 | 0.69 | 0.59 | 0.70 | 0.53 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.5% | 0.9% | 1.1% | 0.9% | 0.2% | 1.8% | 2.8% | 3.2% | 4.6% | — |
| Payout Ratio | 17.2% | 17.2% | 33.7% | 49.1% | 21.5% | 1.0% | 28.9% | 59.0% | 39.2% | 70.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.3% | 3.9% | 2.7% | 2.2% | 5.6% | 20.3% | 5.3% | 4.3% | 8.0% | 5.3% | — |
| FCF Yield | 5.8% | 3.2% | — | — | 58.0% | — | — | 38.2% | — | 37.8% | — |
| Buyback Yield | 5.2% | 2.9% | 9.3% | 1.9% | 15.1% | 7.9% | 0.5% | 1.5% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 5.7% | 3.4% | 10.2% | 3.0% | 16.0% | 8.1% | 2.3% | 4.3% | 3.2% | 4.6% | — |
| Shares Outstanding | — | $253M | $178M | $176M | $245M | $196M | $180M | $185M | $164M | $138M | $225M |
Cyclical Capital Markets Exposure
According to current market data, Newmark trades at a forward P/E of 7.90, which appears to discount significant earnings volatility compared to the broader peer group, suggesting that investors remain skeptical of the firm's ability to sustain profitability in a high-interest-rate environment.
The divergence between the trailing P/E of 22.46 and the forward multiple implies that the market is pricing in a sharp recovery in transaction volumes that may not materialize. This valuation gap relative to larger, more diversified competitors like CBRE suggests that Newmark is viewed as a high-beta play on the commercial real estate cycle.
Based on reported financial statements, Newmark's ROIC has struggled to maintain positive momentum, hovering at a marginal 0.6% in 2026Q1, which indicates that the firm's aggressive strategy of poaching high-producing teams has yet to generate meaningful returns on the capital invested in human resources.
The persistent low ROIC suggests that the costs associated with recruiting and retaining top-tier talent are effectively cannibalizing the returns generated by these producers. Investors should monitor whether this trend represents a structural limitation of the firm's 'talent-first' model or a temporary byproduct of recent market-wide transaction stagnation.
As indicated by the 2026Q1 asset turnover ratio of 0.16, Newmark's ability to generate revenue from its asset base remains historically low, reflecting a business model that is heavily dependent on the timing of large-scale, non-recurring capital markets transactions rather than consistent operational efficiency.
The fluctuation in DSO, which reached 117 days in 2026Q1, highlights the firm's vulnerability to payment cycles in the institutional real estate sector. This lack of working capital efficiency suggests that Newmark's cash conversion cycle is highly susceptible to external credit conditions and the closing schedules of its institutional clients.
Data from recent filings shows a debt-to-EBITDA ratio of 32.29 in 2026Q1, which, when compared to historical levels, suggests that the firm's leverage profile has become increasingly strained as earnings volatility outpaces the company's ability to deleverage its balance sheet effectively.
While the interest coverage ratio of 3.90 provides a thin buffer, the reliance on debt to fund growth and recruitment creates a precarious situation if transaction volumes do not recover. The firm's leverage appears to be a structural risk that could limit management's flexibility during prolonged periods of market price discovery.
The most commonly misapplied metric for Newmark is Adjusted EBITDA, which frequently excludes significant stock-based compensation and recruitment-related costs, thereby obscuring the true economic cost of maintaining the firm's competitive talent pool and overstating the sustainability of its cash-generating capabilities.
Analysts should instead focus on free cash flow after accounting for all talent-related expenditures, as the current reliance on Adjusted EBITDA masks the dilution and cash outflows required to keep the firm's 'rainmakers' in place. Relying on headline EBITDA figures may lead to an overly optimistic assessment of the firm's underlying profitability.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying NMRK stock.
Newmark Group, Inc.'s current P/E ratio is 23.0x. The historical average is 22.7x. This places it at the 56th percentile of its historical range.
Newmark Group, Inc.'s current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
Newmark Group, Inc.'s return on equity (ROE) is 7.7%. The historical average is 13.6%.
Based on historical data, Newmark Group, Inc. is trading at a P/E of 23.0x. This is at the 56th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Newmark Group, Inc.'s current dividend yield is 0.55% with a payout ratio of 17.2%.
Newmark Group, Inc. has 94.6% gross margin and 7.0% operating margin.
Newmark Group, Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.