Filing Flows › Newmark Group (NMRK) › Q3 2025
Newmark Group (NMRK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Newmark Group (NMRK) reported revenue of $863M for the third quarter 2025 (Q3 2025), +26% from a year earlier and +14% from the quarter before. Operating margin was 9.9%, net earnings $46.2M (5.3% of revenue).
Newmark Group, Q3 2025: revenue $863M (+26% year over year), operating margin 9.9%, net earnings $46.2M, operating cash flow $113M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $863M | +14% | +26% |
| Operating profit | $85.2M | +99% | +107% |
| Net earnings | $46.2M | +122% | +159% |
| Operating cash flow | $113M | — | — |
| Free cash flow | $105M | — | — |
What changed
Revenue was $863.5M in Q3 2025, up 26% year over year and up 14% from the previous quarter. Management Services, Servicing Fees and Other was the largest line at 37% of revenue. Capital Markets added $112.6M year over year (up 60%), 63% of the total change.
Operating profit was $85.2M, a 9.9% margin (up 3.9 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 6% margin then. Total costs grew 21% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+22%). Net earnings were $46.2M, up 159% year over year. The effective tax rate was 24.3%.
Operating cash flow was $112.6M, 193% of net income including minority interests. Non-cash charges added back $45.5M of depreciation and amortization. Working capital and other items added $8.7M. Capital expenditures of $7.7M left free cash flow of $104.9M.
Questions
What was Newmark Group's revenue in the third quarter 2025?
Newmark Group (NMRK) reported revenue of $863M for the third quarter 2025 (Q3 2025), +26% from a year earlier and +14% from the quarter before.
Was Newmark Group profitable in the third quarter 2025?
Operating profit was $85.2M (9.9% of revenue) and net earnings $46.2M.
Source: Newmark Group 10-Q on SEC EDGAR.