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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 | 1.8% | -5.2% | 14.5% |
| 2024 | $308M | $72M | $7M | $53M | 1.7% | -5.5% | -110.3% |
| 2023 | $326M | $27M | $-69M | $22M | -16.8% | -7.8% | -1229.7% |
| 2022 | $353M | $75M | $6M | $61M | 1.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 353.39 | 325.67 | 307.68 | 291.60 |
| Operating Revenue | - | 353.39 | 325.67 | 307.68 | 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 |
| Selling General And Administration | - | 173.98 | 171.55 | 152.26 | 146.70 |
| Total Expenses | - | 299.37 | 262.52 | 262.02 | 246.10 |
| Operating Income | - | 54.02 | 63.15 | 45.66 | 45.50 |
| Total Operating Income As Reported | - | 38.21 | -10.64 | 40.18 | 47.04 |
| EBITDA | - | 74.80 | 26.62 | 72.02 | 77.18 |
| Normalized EBITDA | - | 91.25 | 99.98 | 78.96 | 74.93 |
| EBIT | - | 39.03 | -5.80 | 42.46 | 51.33 |
| Interest Income | - | 1.46 | 4.42 | 3.74 | 3.58 |
| Interest Expense | - | 20.90 | 35.74 | 36.26 | 31.70 |
| Net Interest Income | - | -19.44 | -31.32 | -32.52 | -28.12 |
| Other Income Expense | - | -16.45 | -73.36 | -6.94 | 2.25 |
| Interest Income Non Operating | - | 1.46 | 4.42 | 3.74 | 3.58 |
| Interest Expense Non Operating | - | 20.90 | 35.74 | 36.26 | 31.70 |
| Net Non Operating Interest Income Expense | - | -19.44 | -31.32 | -32.52 | -28.12 |
| Pretax Income | - | 18.13 | -41.54 | 6.20 | 19.63 |
| Tax Provision | - | 7.37 | 56.95 | -1.88 | 6.20 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.45 | -15.41 | -1.46 | 0.71 |
| Net Income Continuous Operations | - | 10.76 | -98.49 | 8.08 | 13.43 |
| Net Income From Continuing And Discontinued Operation | - | 6.11 | -69.02 | 7.12 | 8.15 |
| Net Income From Continuing Operation Net Minority Interest | - | 6.11 | -69.02 | 7.12 | 8.15 |
| Net Income | - | 6.11 | -69.02 | 7.12 | 8.15 |
| Net Income Common Stockholders | - | 6.11 | -69.02 | 7.12 | 8.15 |
| Net Income Including Noncontrolling Interests | - | 10.76 | -98.49 | 8.08 | 13.43 |
| Normalized Income | - | 19.10 | -11.06 | 12.61 | 6.62 |
| Diluted NI Availto Com Stockholders | - | 6.11 | -69.02 | 7.12 | 8.15 |
| Basic Average Shares | 18.69 | 18.68 | 18.11 | 18.78 | - |
| Diluted Average Shares | 18.69 | 18.84 | 18.11 | 19.29 | - |
| Reconciled Depreciation | - | 35.77 | 32.41 | 29.56 | 25.85 |
| Reconciled Cost Of Revenue | - | 90.32 | 83.86 | 78.98 | 72.83 |
| Total Unusual Items | - | -16.45 | -73.36 | -6.94 | 2.25 |
| Total Unusual Items Excluding Goodwill | - | -16.45 | -73.36 | -6.94 | 2.25 |
| Minority Interests | - | -4.65 | 29.46 | -0.95 | -5.28 |
| Special Income Charges | - | -15.81 | -73.78 | -5.48 | 1.54 |
| Other Special Charges | - | 15.81 | 73.78 | 5.48 | -1.54 |
| Write Off | 46.04 | 15.81 | 73.78 | 5.48 | - |
| Restructuring And Mergern Acquisition | 46.04 | 15.81 | 73.78 | 5.48 | - |
| Gain On Sale Of Security | - | -0.64 | 0.42 | -1.46 | 0.70 |
| 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 |
| General And Administrative Expense | - | 127.64 | 119.51 | 113.19 | 107.36 |
| Other Gand A | - | 17.33 | 14.88 | 12.26 | 14.26 |
| Salaries And Wages | - | 101.99 | 97.03 | 94.17 | 86.83 |
| Rent Expense Supplemental | - | 8.32 | 7.60 | 6.76 | 6.26 |
| Other Operating Expenses | - | -0.70 | -25.30 | 1.22 | 0.72 |
| Selling And Marketing Expense | - | 45.64 | 52.04 | 39.07 | 39.34 |
| Rent And Landing Fees | - | 8.32 | 7.60 | 6.76 | 6.26 |
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 | $494M | 60.54↑ premium | 1.09 | 1.8% | 10.81 |
| Chatham Lodging Trust | CLDT | $555M | 36.84 | 0.75 | 2.0% | 8.96 |
| Brandywine Realty Trust | BDN | $542M | -3.04 | 0.68 | -22.5% | 22.43 |
| One Liberty Properties, Inc. | OLP | $516M | 20.27 | 1.72 | 8.5% | 13.22 |
| Chiron Real Estate Inc. | XRN | $515M |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.01 |
| -2.4% |
| 13.98 |
| Community Healthcare Trust Incorporated | CHCT | $494M | 96.77 | 1.15 | 1.2% | 13.34 |
| Farmland Partners Inc. | FPI | $456M | 14.46 | 0.99 | 6.9% | 13.23 |
| KKR Real Estate Finance Trust Inc. | KREF | $453M | - | 0.39 | -6.0% | - |
| FRP Holdings, Inc. | FRPH | $452M | 135.80 | 1.06 | 0.8% | 30.39 |
| Peer Median | - | 28.56 | 1.00 | 1.0% | 13.34 | |