Marcus & Millichap, Inc., an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers real estate services comprising commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical …
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Competitive advantage assessment
Key strengths
Strong Interest Coverage & Conservative LeverageDebt serviceability is strong (score 0.87), with robust interest coverage.
Consistent Cash GenerationCash generation is strong and consistent (score 0.80).
Key risks
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.22), suggesting weak customer stickiness.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Marcus & Millichap, Inc. ranks #24 of 51
scored companies in Real Estate Services by moat score — the top 47%.
The widest moat in the group is New England Realty Associates L (NEN)
at 79/100.
Moat scores for companies ranked near MMI in Real Estate Services
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 45
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 56
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 36
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 81
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 42
· 15% of the moat score
Scale matters only when it converts into economics.
Marcus & Millichap, Inc. (MMI) scores 49 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #24 of 51 scored companies in Real Estate Services, the top 47%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 51 companies in Real Estate Services. Its strongest defense is Resilience (81/100) and its weakest is Capital Efficiency (36/100).
How does Marcus & Millichap, Inc. compare with other Real Estate Services companies?
Marcus & Millichap, Inc. ranks #24 of 51 scored companies in Real Estate Services by moat score. The widest moat in Real Estate Services is New England Realty Associates L (NEN) at 79/100. The companies ranked closest are Gyrodyne , LLC (GYRO) at 50 just above it and New Concept Energy, Inc (GBR) at 47 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 51 companies in Real Estate Services. The defenses are then weighted to produce the overall score out of 100.
Why is Marcus & Millichap, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Marcus & Millichap, Inc.?
The Corporate Default template measures 6 defenses, and MMI scores: Pricing Power (38), Cost Advantage (45), Customer Stickiness (56), Capital Efficiency (36), Resilience (81), Scale & Market Position (42). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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