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How RMR Group (RMR) makes money

RMR Group (RMR) made $154M of revenue in the third quarter fiscal 2026 (Q3 FY26), -0.8% from a year earlier. Other revenues brought in $108M (70%); Management services brought in $44.1M (29%); Advisory services brought in $1.3M (1%).

Drawing the Sankey…

RMR Group revenue by segment, Q3 FY26RMR Group revenue by segment, Q3 FY26Other revenues$108MManagement services$44.1MAdvisory services$1.3MIncentive fees$90K
RMR Group: revenue by line, Q2 FY25 to Q3 FY26RMR Group: revenue by line, Q2 FY25 to Q3 FY26Other revenuesManagement servicesIncentive feesAdvisory servicesTermination and incen…Other revenues: $108M latest$108MManagement services: $44.1M latest$44.1MIncentive fees: $90K latestAdvisory services: $1.3M latestTermination and incentive fees: $0 latestQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
Other revenues went from 73% of revenue in Q2 FY25 to 70% in Q3 FY26, the largest shift in the mix.
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: where each dollar of revenue goesRMR Group: where each dollar of revenue goesIncome tax1¢Operating cash flow15¢Free cash flow15¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Other revenues$108M70.3%—-2%
Management services$44.1M28.7%—+3%
Advisory services$1.3M0.9%—+20%
Incentive fees$90K0.1%—-61%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$154M100.0%
Income tax$1.9M1.2%
Operating cash flow$23.4M15.2%
Free cash flow$22.3M14.5%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$154M-0.8%
Q2 FY26$146M-13%
Q1 FY26$180M-18%
Q4 FY25$159M-25%
Q3 FY25$155M-25%
Q2 FY25$167M-24%
Q4 FY24$212M—

From RMR Group's 10-Q filed Aug 5, 2026 (on EDGAR).

Questions

How does RMR Group make money?

RMR Group (RMR) made $154M of revenue in the third quarter fiscal 2026 (Q3 FY26), -0.8% from a year earlier. Other revenues brought in $108M (70%); Management services brought in $44.1M (29%); Advisory services brought in $1.3M (1%).

What is RMR Group's biggest business?

Other revenues: $108M in the third quarter fiscal 2026, 70% of revenue, -2% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.