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Marcus & Millichap vs Fathom Holdings: MMI and FTHM compared
Marcus & Millichap is the larger company: $208M of revenue in its latest quarter (Q3 2026) against $115M for Fathom Holdings (Q2 2026). Marcus & Millichap is growing faster (+8% against -6% a year earlier). Marcus & Millichap is more profitable, with an operating margin of -0.4% against -3.8%.
Where the money goes: MMI and FTHM
Marcus & Millichap (MMI) · Q3 2026
Marcus & Millichap, Q3 2026: revenue $208M (+8% year over year), operating margin -0.4%, net earnings $1.0M, operating cash flow $33.2M. The chart follows the revenue to costs, profit and cash.
Fathom Holdings (FTHM) · Q2 2026
Fathom Holdings, Q2 2026: revenue $115M (-6% year over year), operating margin -3.8%, net loss $6.2M, operating cash flow −$4.5M. The chart follows the revenue to costs, profit and cash.
| Marcus & Millichap (MMI) | Fathom Holdings (FTHM) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $208M | $115M |
| Revenue growth, Y/Y | +8% | -6% |
| Operating margin | -0.4% | -3.8% |
| Net earnings | $1.0M | −$6.2M |
| Net margin | 0.5% | -5.4% |
| Operating cash flow | $33.2M | −$4.5M |
| Free cash flow | $31.3M | — |
Where the revenue comes from
Marcus & Millichap
- Real estate brokerage commissions: $174M (84%)
- Financing fees: $27.0M (13%)
- Other revenue: $7.3M (3%)
Fathom Holdings
- Real Estate Brokerage: $107M (93%)
- Mortgage: $5.7M (5%)
- Title: $1.9M (2%)
Questions
Which is bigger, Marcus & Millichap or Fathom Holdings?
Marcus & Millichap is the larger company: $208M of revenue in its latest quarter (Q3 2026) against $115M for Fathom Holdings (Q2 2026).
Is Marcus & Millichap or Fathom Holdings growing faster?
Marcus & Millichap is growing faster (+8% against -6% a year earlier).
Which is more profitable, Marcus & Millichap or Fathom Holdings?
Marcus & Millichap is more profitable, with an operating margin of -0.4% against -3.8%.
More: Marcus & Millichap earnings · how Marcus & Millichap makes money · Fathom Holdings earnings · how Fathom Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.