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RE/MAX Holdings, Inc. operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. The Real Estate segment comprises real estate brokerage franchising services under the RE/MAX brand name, along with corporate-wide shared services. The Mortgage segment includes brokerage franchising services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand name; and mortgage loan processing software and services under the wemlo brand name. The Marketing Funds segment manages marketing campaigns and agent marketing technology. The company also provides the BoldTrail platform, which integrates a suite of digital products that enables agents, brokers, and teams to establish, manage, and grow client relationships; and the RE/MAX University platform, a learning hub designed to help each agent with their professional expertise. The company was founded in 1973 and is headquartered in Denver, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $292M | $77M | $8M | $34M | -28.1% | -5.2% | 14.5% |
| 2024 | $308M | $72M | $7M | $53M | -12.2% | -5.5% | - |
| 2023 | $326M | $27M | $-69M | $22M | 90.7% | -7.8% | -1229.7% |
| 2022 | $353M | $75M | $6M | $61M | 19.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 353.39 | 325.67 | 307.69 | 291.60 |
| Cost Of Revenue | 90.32 | 83.86 | 78.98 | 72.83 |
| Gross Profit | 263.07 | 241.81 | 228.70 | 218.77 |
| Operating Expense | 209.05 | 178.66 | 183.04 | 173.26 |
| Operating Income | 54.02 | 63.15 | 45.66 | 45.50 |
| EBITDA | 74.80 | 26.62 | 72.02 | 77.18 |
| EBIT | 39.03 | -5.80 | 42.46 | 51.33 |
| Pretax Income | 18.13 | -41.54 | 6.20 | 19.63 |
| Tax Provision | 7.37 | 56.95 | -1.88 | 6.20 |
| Net Income | 6.11 | -69.02 | 7.12 | 8.15 |
| Net Income Common Stockholders | 6.11 | -69.02 | 7.12 | 8.15 |
| Total Expenses | 299.37 | 262.52 | 262.02 | 246.10 |
| Interest Expense | 20.90 | 35.74 | 36.26 | 31.70 |
| Interest Income | 1.46 | 4.42 | 3.74 | 3.58 |
| Selling General And Administration | 173.98 | 171.55 | 152.26 | 146.70 |
| Normalized EBITDA | 91.25 | 99.98 | 78.96 | 74.93 |
| Normalized Income | 19.10 | -11.06 | 12.61 | 6.62 |
| Basic EPS | 0.26 | -3.81 | 0.38 | 0 |
| Diluted EPS | 0.26 | -3.81 | 0.37 | 0 |
| Tax Effect Of Unusual Items | -3.45 | -15.41 | -1.46 | 0.71 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.32 |
| Total Unusual Items | -16.45 | -73.36 | -6.94 | 2.25 |
| Total Unusual Items Excluding Goodwill | -16.45 | -73.36 | -6.94 | 2.25 |
| Net Income From Continuing Operation Net Minority Interest | 6.11 | -69.02 | 7.12 | 8.15 |
| Reconciled Depreciation | 35.77 | 32.41 | 29.56 | 25.85 |
| Reconciled Cost Of Revenue | 90.32 | 83.86 | 78.98 | 72.83 |
| Net Interest Income | -19.44 | -31.32 | -32.52 | -28.12 |
| Net Income From Continuing And Discontinued Operation | 6.11 | -69.02 | 7.12 | 8.15 |
| Rent Expense Supplemental | 8.32 | 7.60 | 6.76 | 6.26 |
| Total Operating Income As Reported | 38.21 | -10.64 | 40.18 | 47.04 |
| Diluted Average Shares | 18.84 | 18.11 | 19.29 | 0 |
| Basic Average Shares | 18.68 | 18.11 | 18.78 | 0 |
| Diluted NI Availto Com Stockholders | 6.11 | -69.02 | 7.12 | 8.15 |
| Minority Interests | -4.65 | 29.46 | -0.95 | -5.28 |
| Net Income Including Noncontrolling Interests | 10.76 | -98.49 | 8.08 | 13.43 |
| Net Income Continuous Operations | 10.76 | -98.49 | 8.08 | 13.43 |
| Other Income Expense | -16.45 | -73.36 | -6.94 | 2.25 |
| Special Income Charges | -15.81 | -73.78 | -5.48 | 1.54 |
| Other Special Charges | 15.81 | 73.78 | 5.48 | -1.54 |
| Write Off | 15.81 | 73.78 | 5.48 | 0 |
| Restructuring And Mergern Acquisition | 15.81 | 73.78 | 5.48 | 0 |
| Gain On Sale Of Security | -0.64 | 0.42 | -1.46 | 0.70 |
| Net Non Operating Interest Income Expense | -19.44 | -31.32 | -32.52 | -28.12 |
| Interest Expense Non Operating | 20.90 | 35.74 | 36.26 | 31.70 |
| Interest Income Non Operating | 1.46 | 4.42 | 3.74 | 3.58 |
| Other Operating Expenses | -0.70 | -25.30 | 1.22 | 0.71 |
| Depreciation Amortization Depletion Income Statement | 35.77 | 32.41 | 29.56 | 25.85 |
| Depreciation And Amortization In Income Statement | 35.77 | 32.41 | 29.56 | 25.85 |
| Selling And Marketing Expense | 45.64 | 52.04 | 39.07 | 39.34 |
| General And Administrative Expense | 127.64 | 119.51 | 113.19 | 107.36 |
| Other Gand A | 17.33 | 14.88 | 12.26 | 14.27 |
| Rent And Landing Fees | 8.32 | 7.60 | 6.76 | 6.26 |
| Salaries And Wages | 101.99 | 97.03 | 94.17 | 86.83 |
| Operating Revenue | 353.39 | 325.67 | 307.69 | 291.60 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| RE/MAX Holdings, Inc.this co. | RMAX | $596M | 27.68 | 0.49 | -28.1% | 1.10 |
| CTO Realty Growth, Inc. | CTO | $690M | 102.15 | 1.17 | 1.8% | 13.61 |
| Strawberry Fields REIT, Inc. | STRW | $690M | 20.62 | 13.55 | 15.0% | 7.38 |
| TPG RE Finance Trust, Inc. | TRTX | $642M | 12.98 | 0.61 | 5.6% | - |
| AH REALTY TRUST INC | AHRT | $624M |
| - |
| 1.06 |
| 0.7% |
| 14.90 |
| Gladstone Commercial Corporation | GOOD | $614M | 89.86 | 3.55 | 11.2% | 14.40 |
| Universal Health Realty Income Trust | UHT | $565M | 32.12 | 3.71 | 11.6% | 13.98 |
| Brandywine Realty Trust | BDN | $523M | - | 0.71 | -22.3% | 16.89 |
| Farmland Partners Inc. | FPI | $509M | 18.82 | 1.07 | 5.9% | 27.07 |
| Peer Median | - | 26.37 | 1.12 | 5.8% | 14.40 | |