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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 | 7.7% | -22.0% | -23.9% |
| 2024 | $898M | $70M | $23M | $58M | 9.7% | -6.7% | -59.5% |
| 2023 | $962M | $151M | $57M | $105M | 23.8% | 15.6% | 68.1% |
| 2022 | $833M | $92M | $34M | $100M | 16.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 832.50 | 962.32 | 897.61 | 700.28 |
| Operating Revenue | - | 199.98 | 236.16 | 196.84 | 193.42 |
| 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 |
| Selling General And Administration | - | 172.93 | 184.86 | 224.72 | 213.89 |
| Total Expenses | - | 742.69 | 842.36 | 838.59 | 650.28 |
| Operating Income | - | 89.82 | 119.95 | 59.03 | 50 |
| Total Operating Income As Reported | - | 88.37 | 113.73 | 44.98 | 41.78 |
| EBITDA | - | 91.69 | 150.64 | 69.94 | 62.21 |
| Normalized EBITDA | - | 93.14 | 156.86 | 81.40 | 61.66 |
| EBIT | - | 90.70 | 149.54 | 65.23 | 50.66 |
| Interest Income | - | 1.32 | 10.57 | 10.40 | 5.20 |
| Interest Expense | - | 0 | 0 | 0.78 | 4.31 |
| Net Interest Income | - | 1.32 | 10.57 | 9.62 | 0.89 |
| Other Income Expense | - | -0.44 | 19.01 | -4.20 | -4.54 |
| Interest Income Non Operating | - | 1.32 | 10.57 | 10.40 | 5.20 |
| Interest Expense Non Operating | - | 0 | 0 | 0.78 | 4.31 |
| Net Non Operating Interest Income Expense | - | 1.32 | 10.57 | 9.62 | 0.89 |
| Pretax Income | - | 90.70 | 149.54 | 64.45 | 46.35 |
| Tax Provision | - | 13.23 | 21.77 | 11.32 | 7.67 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.21 | -0.91 | -2.02 | 0.09 |
| Net Income Continuous Operations | - | 77.47 | 127.77 | 53.13 | 38.68 |
| Net Income From Continuing And Discontinued Operation | - | 34 | 57.15 | 23.13 | 17.60 |
| Net Income From Continuing Operation Net Minority Interest | - | 34 | 57.15 | 23.13 | 17.60 |
| Net Income | - | 34 | 57.15 | 23.13 | 17.60 |
| Net Income Common Stockholders | - | 33.67 | 56.50 | 22.81 | 17.20 |
| Net Income Including Noncontrolling Interests | - | 77.47 | 127.77 | 53.13 | 38.68 |
| Normalized Income | - | 35.24 | 62.46 | 32.57 | 17.14 |
| Diluted NI Availto Com Stockholders | - | 63.97 | 56.50 | 22.81 | 17.20 |
| Basic Average Shares | - | 16.34 | 16.43 | 16.53 | 16.64 |
| Diluted Average Shares | - | 31.35 | 16.43 | 16.53 | 16.64 |
| Reconciled Depreciation | - | 0.99 | 1.10 | 4.71 | 11.55 |
| Reconciled Cost Of Revenue | - | 568.77 | 656.40 | 609.15 | 424.84 |
| Total Unusual Items | - | -1.45 | -6.22 | -11.46 | 0.54 |
| Total Unusual Items Excluding Goodwill | - | -1.45 | -6.22 | -11.46 | 0.54 |
| Minority Interests | - | -43.46 | -70.62 | -30 | -21.08 |
| Special Income Charges | - | -1.45 | -6.22 | -11.46 | 0.10 |
| Write Off | 0 | - | - | - | - |
| Restructuring And Mergern Acquisition | - | 1.45 | 6.22 | 11.46 | -0.10 |
| Gain On Sale Of Security | 2.06 | - | - | - | 0.44 |
| 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 |
| Rent Expense Supplemental | - | 0 | 0 | 0.46 | - |
| Otherunder Preferred Stock Dividend | - | 0.33 | 0.65 | 0.32 | 0.40 |
| Earnings From Equity Interest | - | 1.01 | 25.24 | 7.26 | -5.08 |
| Average Dilution Earnings | 31.72 | 30.29 | 0 | 0 | - |
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 | $348M | 19.78 | 1.53 | 7.7% | 7.87 |
| Gladstone Land Corporation | LAND | $402M | 29.75 | 0.60 | 2.0% | 12.45 |
| NexPoint Real Estate Finance, Inc. | NREF | $364M | 3.46 | 0.94 | 27.1% | - |
| Claros Mortgage Trust, Inc. | CMTG | $355M | -0.73 | 0.23 | -31.9% | - |
| The Real Brokerage Inc. | REAX | $348M | -42.90 |
| - |
| - |
| - |
| - |
| - |
| 6.73 |
| -15.7% |
| - |
| Maui Land & Pineapple Company, Inc. | MLP | $345M | -32.58 | 10.42 | -32.0% | -38.70 |
| Alpine Income Property Trust, Inc. | PINE | $342M | -128.59 | 1.22 | -0.9% | 18.09 |
| Transcontinental Realty Investors, Inc. | TCI | $325M | 23.53 | 0.38 | 1.6% | 12.78 |
| Seaport Entertainment Group Inc. | SEG | $306M | -2.62 | 0.67 | -25.6% | -5.13 |
| Peer Median | - | -1.67 | 0.80 | -8.3% | 12.45 | |