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The RMR Group Inc., through its subsidiary, The RMR Group LLC, provides real estate asset management services in the United States. The company offers management services to its four publicly traded real estate investment trusts, two real estate operating companies, and private capital vehicles. It also provides advisory services to publicly traded mortgage real estate investment trust. In addition, the company provides management services to a wide range of real estate assets and businesses that include healthcare facilities, senior living and other apartments, hotels, office buildings, industrial buildings, leased lands, net-lease service-focused retail, multifamily residential communities, and various specialized properties. The company was formerly known as REIT Management & Research Inc. and changed its name to The RMR Group Inc. in October 2015. The RMR Group Inc. was founded in 1986 and was incorporated on May 28th, 2015 in Maryland, USA and is headquartered in Newton, Massachusetts.
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 | $700M | $62M | $18M | $72M | 4.4% | -22.0% | -23.9% |
| 2024 | $898M | $70M | $23M | $58M | 5.5% | -6.7% | -59.5% |
| 2023 | $962M | $151M | $57M | $105M | 13.5% | 15.6% | 68.1% |
| 2022 | $833M | $92M | $34M | $100M | 9.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 832.50 | 962.32 | 897.61 | 700.28 |
| Cost Of Revenue | 568.77 | 656.40 | 609.15 | 424.84 |
| Gross Profit | 263.74 | 305.92 | 288.46 | 275.44 |
| Operating Expense | 173.92 | 185.96 | 229.44 | 225.44 |
| Operating Income | 89.82 | 119.95 | 59.03 | 50 |
| EBITDA | 91.69 | 150.64 | 69.94 | 62.21 |
| EBIT | 90.70 | 149.54 | 65.23 | 50.66 |
| Pretax Income | 90.70 | 149.54 | 64.45 | 46.35 |
| Tax Provision | 13.23 | 21.77 | 11.32 | 7.67 |
| Net Income | 34 | 57.15 | 23.13 | 17.60 |
| Net Income Common Stockholders | 33.67 | 56.50 | 22.81 | 17.20 |
| Total Expenses | 742.69 | 842.37 | 838.59 | 650.28 |
| Interest Expense | 0 | 0 | 0.78 | 4.31 |
| Interest Income | 1.32 | 10.57 | 10.40 | 5.20 |
| Selling General And Administration | 172.93 | 184.86 | 224.72 | 213.89 |
| Normalized EBITDA | 93.14 | 156.86 | 81.40 | 61.66 |
| Normalized Income | 35.24 | 62.46 | 32.57 | 17.14 |
| Basic EPS | 2.06 | 3.44 | 1.38 | 1.03 |
| Diluted EPS | 2.04 | 3.44 | 1.38 | 1.03 |
| Tax Effect Of Unusual Items | -0.21 | -0.91 | -2.02 | 0.09 |
| Tax Rate For Calcs | 0.15 | 0.15 | 0.18 | 0.17 |
| Total Unusual Items | -1.45 | -6.22 | -11.46 | 0.54 |
| Total Unusual Items Excluding Goodwill | -1.45 | -6.22 | -11.46 | 0.54 |
| Net Income From Continuing Operation Net Minority Interest | 34 | 57.15 | 23.13 | 17.60 |
| Reconciled Depreciation | 0.99 | 1.10 | 4.71 | 11.55 |
| Reconciled Cost Of Revenue | 568.77 | 656.40 | 609.15 | 424.84 |
| Net Interest Income | 1.32 | 10.57 | 9.62 | 0.89 |
| Net Income From Continuing And Discontinued Operation | 34 | 57.15 | 23.13 | 17.60 |
| Rent Expense Supplemental | 0 | 0 | 0.46 | 0 |
| Total Operating Income As Reported | 88.37 | 113.73 | 44.98 | 41.78 |
| Diluted Average Shares | 31.35 | 16.43 | 16.53 | 16.64 |
| Basic Average Shares | 16.34 | 16.43 | 16.53 | 16.64 |
| Diluted NI Availto Com Stockholders | 63.97 | 56.50 | 22.81 | 17.20 |
| Average Dilution Earnings | 30.29 | 0 | 0 | 0 |
| Otherunder Preferred Stock Dividend | 0.33 | 0.65 | 0.32 | 0.40 |
| Minority Interests | -43.46 | -70.62 | -30 | -21.08 |
| Net Income Including Noncontrolling Interests | 77.47 | 127.77 | 53.13 | 38.68 |
| Net Income Continuous Operations | 77.47 | 127.77 | 53.13 | 38.68 |
| Other Income Expense | -0.44 | 19.01 | -4.20 | -4.54 |
| Special Income Charges | -1.45 | -6.22 | -11.46 | 0.10 |
| Write Off | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 1.45 | 6.22 | 11.46 | -0.10 |
| Earnings From Equity Interest | 1.01 | 25.24 | 7.26 | -5.08 |
| Gain On Sale Of Security | 0 | 0 | 0 | 0.45 |
| Net Non Operating Interest Income Expense | 1.32 | 10.57 | 9.62 | 0.89 |
| Interest Expense Non Operating | 0 | 0 | 0.78 | 4.31 |
| Interest Income Non Operating | 1.32 | 10.57 | 10.40 | 5.20 |
| Depreciation Amortization Depletion Income Statement | 0.99 | 1.10 | 4.71 | 11.55 |
| Depreciation And Amortization In Income Statement | 0.99 | 1.10 | 4.71 | 11.55 |
| General And Administrative Expense | 172.93 | 184.86 | 224.72 | 213.89 |
| Other Gand A | 32.92 | 36.02 | 43.74 | 42.50 |
| Salaries And Wages | 140.01 | 148.84 | 180.98 | 171.39 |
| Operating Revenue | 199.98 | 236.16 | 196.84 | 193.42 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The RMR Group Inc.this co. | RMR | $296M | 12.76↑ premium | 1.27 | 4.4% | 6.01 |
| NexPoint Real Estate Finance, Inc. | NREF | $328M | 5.03 | 0.69 | 12.7% | - |
| Transcontinental Realty Investors, Inc. | TCI | $322M | 23.26 | 0.38 | 1.6% | 85.49 |
| Ready Capital Corporation | RC | $302M | - | 0.21 | -13.9% | - |
| Maui Land & Pineapple Company, Inc. | MLP |
| $302M |
| - |
| 9.09 |
| -32.0% |
| -29.23 |
| Ares Commercial Real Estate Corporation | ACRE | $287M | - | 0.56 | -0.2% | - |
| SITE Centers Corp. | SITC | $287M | 1.63 | 0.86 | 53.1% | 4.74 |
| Seaport Entertainment Group Inc. | SEG | $286M | - | 0.62 | -25.0% | -5.37 |
| BRT Apartments Corp. | BRT | $268M | - | 1.51 | -6.7% | 14.41 |
| Peer Median | - | 5.03 | 0.66 | -3.5% | 4.74 | |