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RMR Group (RMR) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 5, 2026 · RMR Group (RMR) Q3 FY26 earnings results →

Q3 FY26 Revenue down 1% year over year to $154M · 5¢ of every $1 of revenue kept as net profit · operating margin -6.0%

RMR Group made $154M in Q3 FY26 (-0.8% Y/Y): Other revenues $108M, Management services $44.1M, Advisory services $1.3M. Operating margin -6.0%, net earnings $7.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$154M
Year over year-0.8%
Operating margin-6.0%
Net earnings$7.4M
Operating cash flow$23.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $153.5M in Q3 FY26, down 1% year over year and up 5% from the previous quarter. Management services was the largest line at 29% of revenue. Incentive fees lost $139K year over year (down 61%), 11% of the total change.

Operating costs exceeded revenue by $9.3M, an operating margin of -6.0%. Total costs grew 12% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $3.2M, down 24% year over year. The effective tax rate was 20.4%. Non-operating items added $18.6M, 200% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $23.4M (up 6% year over year), 316% of net income including minority interests. Non-cash charges added back $4.4M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items added $5.9M. Capital expenditures of $1.1M left free cash flow of $22.3M.

Quarterly history

RMR Group revenue by quarterRMR Group revenue by quarter$212MQ4 FY24$167MQ2 FY25$155MQ3 FY25$159MQ4 FY25$180MQ1 FY26$146MQ2 FY26$154MQ3 FY26
RMR Group net earnings by quarterRMR Group net earnings by quarter$5.3MQ4 FY24$3.6MQ2 FY25$4.2MQ3 FY25$3.4MQ4 FY25$12.2MQ1 FY26$1.0MQ2 FY26$7.4MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 5, 2026$154M-0.8%-6.0%$7.4M$23.4M
Q2 FY2610-QMay 6, 2026$146M-13%4.8%$1.0M$48.8M
Q1 FY2610-QFeb 4, 2026$180M-18%17.8%$12.2M$10.7M
Q4 FY2510-KNov 12, 2025$159M-25%6.8%$3.4M$15.6M
Q3 FY2510-QAug 5, 2025$155M-25%6.4%$4.2M$22.1M
Q2 FY2510-QMay 6, 2025$167M-24%4.5%$3.6M$13.0M
Q4 FY2410-KNov 12, 2024$212M—4.7%$5.3M−$5.7M

Charts

RMR Group: revenue growth, year over year and quarter over quarterRMR Group: revenue growth, year over year and quarter over quarterY/YQ/Q-24%-21%Q2 FY25-25%-7%Q3 FY25-25%+3%Q4 FY25-18%+13%Q1 FY26-13%-19%Q2 FY26-1%+5%Q3 FY26
Latest (Q3 FY26): Y/Y -1%, Q/Q +5%.
RMR Group: where the cash came from (+) and went (−), TTM to Q3 FY26RMR Group: where the cash came from (+) and went (−), TTM to Q3 FY26Real estate bought−$144MOperating cash flow$98.6MNet borrowing (+) / repaid (−)$95.0MCash drawn (+) / kept (−)$63.1MOther financing−$55.2MDividends−$30.6MOther investing−$19.6MCapital spending−$5.9MBuybacks−$848K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
RMR Group: profit against cash, quarter by quarterRMR Group: profit against cash, quarter by quarterNet incomeOperating cash flow$12.5M−$5.7MQ4 FY24$14.1M$25.0MQ1 FY25$7.7M$13.0MQ2 FY25$9.3M$22.1MQ3 FY25$7.6M$15.6MQ4 FY25$26.8M$10.7MQ1 FY26$2.1M$48.8MQ2 FY26$7.4M$23.4MQ3 FY26
Latest (Q3 FY26): Net income $7.4M, Operating cash flow $23.4M.
RMR Group: diluted shares by fiscal yearRMR Group: diluted shares by fiscal year31MFY2031MFY2131MFY2216MFY2317MFY2417MFY25
-46.6% since FY20: buybacks shrank the count.
RMR Group in its industry: growth against margin (30 companies, SIC 8742)RMR Group in its industry: growth against margin (30 companies, SIC 8742)revenue growth, year over year →↑ operating marginmedian +4%median 2%BAHGASTHFCNHURNICFIONTEXPOBWMNHCKTIIIPPHCTSSIMHHAERTCTMCISOACCSPBSVRTBLBRAEUBGELVGGRNQHapi Metaverse Inc.RDSCYSGLCybriatech IncLEENRMR (-1%, -6%)
Services-Management Consulting Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About RMR Group

The RMR Group Inc., or RMR Inc., is a holding company and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC, or RMR LLC. RMR Inc. is a Maryland corporation and RMR LLC is a Maryland limited liability company. RMR Inc. serves as the sole managing member of RMR LLC and, in that capacity, operates and controls the business and affairs of RMR LLC. In this Annual Report on Form 10-K, unless otherwise indicated, “we”, “us” and “our” refers to RMR Inc. and its direct and indirect subsidiaries, including RMR LLC.

In its own words, from its 10-K, filed Nov 12, 2025.

RMR Group against its Services-Management Consulting Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.8% against the peers' median +6%. Operating margin: -6.0% against the peers' median 8.9%.

CompanyQuarterRevenueY/YOp. margin
RMR RMR GroupQ3 FY26$154M-0.8%-6.0%
BAH Booz Allen Hamilton HoldingQ2 FY27$2.8B-4%8.8%
G GenpactQ3 2026$1.4B+7%15.2%
ASTH Astrana HealthQ3 2026$1.0B+7%3.9%
FCN FTI ConsultingQ3 2026$1.0B+6%8.9%
HURN Huron Consulting GroupQ3 2026$491M+11%12.0%
ICFI ICF InternationalQ3 2026$470M+1%9.3%
ONT OnterrisQ3 2026$203M-10%6.0%
EXPO ExponentQ3 2026$174M+18%24.1%

Source: RMR Group 10-Q on SEC EDGAR · CIK 1644378 · Services-Management Consulting Services

13F: who owns RMR and who is buying

Largest holders of RMR (13F)Largest holders of RMR (13F)Nantahala Capital Management, LLC$47.1MBlackRock$30.5MVanguard Group$23.9MVanguard Portfolio Management LLC$18.0MFlat Footed LLC$17.7MBank of America$17.6MMorgan Stanley$15.7MVanguard Capital Management LLC$14.2MFederated Hermes$11.0MGeode Capital Management, LLC$9.9M
Funds' net buying of RMR by quarter (13F)Funds' net buying of RMR by quarter (13F)−$1.5M2024-09$2.8M2024-12−$8.4M2025-03$5.1M2025-06−$4.4M2025-09$16.0M2025-12$2.2M2026-03$27.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on RMR

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：RMR Group（RMR）财报

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