Filing Flows › Newmark Group (NMRK) › Q4 2025
Newmark Group (NMRK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Newmark Group (NMRK) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +15% from a year earlier and +17% from the quarter before. Operating margin was 12.3%, net earnings $68.0M (6.8% of revenue).
Newmark Group, Q4 2025: revenue $1.0B (+15% year over year), operating margin 12.3%, net earnings $68.0M, operating cash flow $619M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +17% | +15% |
| Operating profit | $124M | +45% | +19% |
| Net earnings | $68.0M | +47% | -2% |
| Operating cash flow | $619M | +449% | +54% |
| Free cash flow | $609M | — | +54% |
What changed
Revenue was $1.0B in Q4 2025, up 15% year over year and up 17% from the previous quarter. Capital Markets was the largest line at 35% of revenue.
Operating profit was $0.12B, a 12.3% margin (up 0.4 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 12% margin then. Total costs grew 15% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $0.07B, down 2% year over year. The effective tax rate was 28.5%.
Operating cash flow was $0.62B (up 54% year over year), 741% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization. Working capital and other items added $0.49B. After purchase of fixed assets ($0.01B), free cash flow as the company reports it was $0.61B.
Questions
What was Newmark Group's revenue in the fourth quarter 2025?
Newmark Group (NMRK) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +15% from a year earlier and +17% from the quarter before.
Was Newmark Group profitable in the fourth quarter 2025?
Operating profit was $124M (12.3% of revenue) and net earnings $68.0M.
Source: Newmark Group 10-K on SEC EDGAR.