← NEWMARK GROUP, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated net income (loss) | $145.1m | $191.9m | $161.7m | $109.3m | $978.1m | $112.5m | $62.4m | $85.5m | $155.4m | |
| Equity-based compensation and allocation of net income to limited partnership units and FPUs | $10.0m | $224.6m | $258.8m | $130.8m | $356.3m | $138.3m | $139.7m | $185.4m | $282.0m | |
| Consolidated net income (loss), adjusted for non-cash and non-operating items | $850.2m | ($286.5m) | $1.2b | ($615.7m) | $300.9m | $1.4b | ($5.1m) | $213.5m | $553.8m | |
| Net Income | — | — | — | — | — | $83.3m | $42.6m | $61.2m | $126.2m | |
| Net Income From Continuing Operations | — | — | — | — | — | $112.5m | $62.4m | $85.5m | $155.4m | |
| Depreciation and amortization | $95.8m | $97.7m | $131.1m | $141.2m | $121.7m | $165.8m | $166.2m | $174.3m | $181.3m | |
| Employee loan amortization and other non-cash compensation expense | $34.4m | $27.7m | $39.0m | $73.6m | $79.4m | $84.1m | $92.9m | $123.9m | $155.3m | |
| Depreciation Amortization Depletion | — | — | — | — | — | $165.8m | $166.2m | $174.3m | $181.3m | |
| Deferred tax provision (benefit) | $44.4m | $16.4m | ($27.9m) | $419k | $118.6m | ($24.5m) | ($5.2m) | $1.0m | $16.8m | |
| Deferred tax asset | — | — | — | — | — | — | $0 | $0 | $19.5m | |
| Deferred Income Tax | — | — | — | — | — | ($24.5m) | ($5.2m) | $1.0m | $16.8m | |
| Deferred Tax | — | — | — | — | — | ($24.5m) | ($5.2m) | $1.0m | $16.8m | |
| Lease impairment | — | — | — | $0 | $0 | $14.4m | $7.6m | $0 | $0 | |
| Asset Impairment Charge | — | — | — | — | — | $14.4m | $7.6m | $0 | $0 | |
| Income from an equity method investment | ($1.6m) | ($2.8m) | ($7.2m) | $11.6m | $0 | ($2.8m) | ($14.2m) | $0 | $0 | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | ($2.8m) | ($14.2m) | $0 | $0 | |
| Gains on originated mortgage servicing rights | ($121.0m) | ($95.3m) | ($103.2m) | ($193.9m) | ($147.8m) | ($130.3m) | ($75.7m) | ($104.0m) | ($119.2m) | |
| Provision (benefit) for credit losses on the financial guarantee liability | — | $0 | $0 | $11.6m | ($3.6m) | $1.7m | $2.6m | ($1.9m) | $4.3m | |
| Provision (reversal) for doubtful accounts | $6.1m | $3.5m | $1.8m | $4.7m | $6.3m | $6.6m | ($2.2m) | $230k | $9.4m | |
| Non-cash changes in acquisition related earn-outs | — | $374k | $728k | ($9.9m) | $415k | ($1.3m) | $5.2m | ($3.8m) | $975k | |
| Unrealized (gains) on loans held for sale | ($2.2m) | ($18.4m) | ($5.2m) | ($24.3m) | ($21.3m) | ($712k) | ($26.7m) | ($10.2m) | ($12.2m) | |
| Loan originations—loans held for sale | ($8.8b) | ($8.6b) | ($8.8b) | ($12.4b) | ($9.1b) | ($7.8b) | ($6.9b) | ($8.6b) | ($10.7b) | |
| Loan sales—loans held for sale | $9.6b | $8.0b | $9.6b | $11.5b | $9.2b | $8.8b | $6.5b | $8.4b | $10.6b | |
| Other | $1.4m | $1.6m | $4.3m | $3.4m | $3.6m | $2.2m | $1.7m | ($1.1m) | $5.9m | |
| Receivables, net | ($57.2m) | ($129.5m) | ($52.0m) | $123.7m | ($191.3m) | $42.4m | ($69.3m) | $17.7m | ($31.2m) | |
| Loans, forgivable loans and other receivables from employees and partners, net | ($34.3m) | ($109.6m) | ($161.9m) | ($127.9m) | ($78.5m) | ($131.6m) | ($243.3m) | ($211.9m) | ($220.2m) | |
| Right-of-use assets | — | $0 | ($19.5m) | $11.2m | $41.5m | ($42.0m) | $54.1m | $95.9m | $52.7m | |
| Receivable from related parties | — | — | $0 | $0 | ($8.3m) | $8.3m | $0 | ($326k) | $326k | |
| Other assets | $36.1m | ($9.9m) | ($113.2m) | $21.8m | $8.9m | $8.7m | ($9.0m) | $3.2m | ($7.7m) | |
| Accrued compensation | $45.8m | $50.2m | $40.0m | ($75.4m) | ($83.2m) | ($102.3m) | ($22.3m) | ($15.1m) | ($90.2m) | |
| Right-of-use liability | — | — | — | ($7.0m) | ($34.7m) | $51.6m | ($39.7m) | ($106.9m) | ($59.7m) | |
| Accounts payable, accrued expenses and other liabilities | $13.1m | $152.9m | $90.7m | ($82.4m) | ($4.4m) | ($35.3m) | $71.7m | $629k | ($27.8m) | |
| Payables to related parties | $0 | $0 | $23.4m | ($26.0m) | $366k | ($5.3m) | ($3.1m) | ($6.6m) | $1.8m | |
| Proceeds from the exercise of redemption option | — | — | — | — | $0 | $0 | $105.5m | $0 | $0 | |
| Payments for intangible assets | — | — | — | — | — | $0 | $0 | ($1.5m) | $0 | |
| Purchases of fixed assets | ($19.1m) | ($21.0m) | ($34.5m) | ($19.6m) | ($19.7m) | ($62.2m) | ($55.4m) | ($31.5m) | ($29.4m) | |
| Proceeds from warehouse facilities | $8.8b | $8.6b | $8.8b | $12.4b | $9.1b | $7.8b | $6.9b | $8.6b | $10.7b | |
| Principal payments on warehouse facilities | ($8.7b) | ($8.0b) | ($9.5b) | ($11.5b) | ($9.2b) | ($8.7b) | ($6.6b) | ($8.4b) | ($10.6b) | |
| Borrowing of debt | $0 | $537.6m | $155.0m | $365.0m | $55.0m | $0 | $930.0m | $845.0m | $520.0m | |
| Purchase of limited partnership interests | — | — | — | — | — | $0 | $0 | ($12.3m) | $0 | |
| Treasury stock repurchases | $0 | ($486k) | ($37.4m) | ($6.4m) | ($290.5m) | ($294.8m) | ($37.4m) | ($212.6m) | ($127.1m) | |
| Payments on acquisition earn-outs | ($18.9m) | ($4.5m) | ($4.8m) | ($4.8m) | ($42.8m) | ($6.5m) | ($983k) | $0 | ($943k) | |
| Deferred financing costs | ($1.5m) | ($1.3m) | ($1.4m) | ($4.1m) | ($1.5m) | ($5.1m) | ($5.1m) | ($7.0m) | ($1.7m) | |
| Interest | $21.0m | $81.8m | $37.0m | $40.6m | $36.3m | $37.8m | $45.4m | $32.1m | $56.4m | |
| Taxes | $46k | $1.2m | $95.1m | $80.3m | $99.4m | $99.6m | $57.2m | $49.8m | $43.5m | |
| Right-of-use assets and liabilities | — | $0 | $182.2m | $37.8m | $497.9m | $138.8m | $80.1m | $45.5m | $80.3m | |
| Tax Receivable Agreement liability | — | — | — | — | — | — | $0 | $0 | $17.5m | |
| Beginning Cash Position | — | — | — | — | — | $266.5m | $313.0m | $258.7m | $304.9m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | ($1.5b) | $261.5m | $89.5m | ($44.8m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | $308.6m | ($49.7m) | ($33.4m) | ($198.1m) | |
| Change In Account Payable | — | — | — | — | — | ($35.3m) | $71.7m | $629k | ($27.8m) | |
| Change In Accrued Expense | — | — | — | — | — | ($102.3m) | ($22.3m) | ($15.1m) | ($90.2m) | |
| Change In Other Current Assets | — | — | — | — | — | ($33.3m) | $45.1m | $99.1m | $45.0m | |
| Change In Other Current Liabilities | — | — | — | — | — | $51.6m | ($39.7m) | ($106.9m) | ($59.7m) | |
| Change In Other Working Capital | — | — | — | — | ($83.2m) | ($102.3m) | ($22.3m) | — | — | |
| Change In Payable | — | — | — | — | — | ($40.6m) | $68.6m | ($6.0m) | ($26.0m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | ($143.0m) | $46.3m | ($21.2m) | ($116.2m) | |
| Change In Receivables | — | — | — | — | — | ($80.9m) | ($312.6m) | ($194.5m) | ($251.0m) | |
| Change In Working Capital | — | — | — | — | — | ($205.5m) | ($260.9m) | ($223.5m) | ($381.8m) | |
| Changes In Account Receivables | — | — | — | — | — | $42.4m | ($69.3m) | $17.7m | ($31.2m) | |
| Changes In Cash | — | — | — | — | — | $46.5m | ($54.2m) | $46.2m | ($71.0m) | |
| End Cash Position | — | — | — | — | — | $313.0m | $258.7m | $304.9m | $233.9m | |
| Financing Cash Flow | — | — | — | — | — | ($1.5b) | $261.5m | $89.5m | ($44.8m) | |
| Free Cash Flow | — | — | — | — | — | $1.1b | ($321.3m) | ($42.9m) | $142.6m | |
| Gain Loss On Investment Securities | — | — | — | — | ($12.0m) | $7.5m | — | — | — | |
| Investing Cash Flow | — | — | — | — | — | $308.6m | ($49.7m) | ($33.4m) | ($198.1m) | |
| Net Business Purchase And Sale | — | — | — | — | — | ($64.2m) | ($99.9m) | $0 | ($53.4m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | $0 | $0 | ($1.5m) | $0 | |
| Net PPE Purchase And Sale | — | — | — | — | — | ($62.2m) | ($55.4m) | ($31.5m) | ($29.4m) | |
| Operating Gains Losses | — | — | — | — | — | $88.7m | $78.7m | $123.9m | $155.3m | |
| Other Non Cash Items | — | — | — | — | — | $804.7m | ($454.9m) | ($354.9m) | ($250.7m) | |
| Pension And Employee Benefit Expense | — | — | — | — | — | $84.1m | $92.9m | $123.9m | $155.3m | |
| Provisionand Write Offof Assets | — | — | — | — | — | $8.4m | $433k | ($1.7m) | $13.7m | |
| Purchase Of Business | — | — | — | — | — | ($64.2m) | ($99.9m) | $0 | ($53.4m) | |
| Purchase Of Intangibles | — | — | — | — | — | $0 | $0 | ($1.5m) | $0 | |
| Purchase Of PPE | — | $21.0m | $34.5m | $19.6m | $19.7m | ($62.2m) | ($55.4m) | ($31.5m) | ($29.4m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($294.8m) | ($37.4m) | ($212.6m) | ($127.1m) | |
| Stock Based Compensation | — | — | — | — | — | $138.3m | $139.7m | $185.4m | $282.0m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | ($106.7m) | $93.5m | $4.5m | ($32k) | — | |
| Net cash provided by (used in) operating activities | $853.6m | ($332.4m) | $986.8m | ($777.7m) | ($48.7m) | $1.2b | ($266.0m) | ($9.9m) | $172.0m | |
| Capital Expenditure | — | — | — | — | — | ($62.2m) | ($55.4m) | ($33.0m) | ($29.4m) | |
| Purchase of non-marketable investments | $0 | ($29.5m) | ($28.0m) | $0 | ($8.5m) | ($2.7m) | $0 | ($312k) | $0 | |
| Purchase of restricted short-term investments | — | — | — | — | — | — | $0 | ($110k) | ($334.4m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | $435.1m | $105.5m | ($312k) | $0 | |
| Purchase Of Investment | — | — | — | — | — | ($2.8m) | $0 | ($312k) | $0 | |
| Proceeds from maturity of restricted short-term investments | — | — | — | — | — | — | $0 | $0 | $219.0m | |
| Sale Of Investment | — | — | — | — | — | $437.8m | $105.5m | $0 | $0 | |
| Payments for acquisitions, net of cash acquired and proceeds from divestitures | — | — | — | — | ($69.8m) | ($64.2m) | ($99.9m) | $0 | ($53.4m) | |
| Net Other Investing Changes | — | — | — | — | — | — | — | ($110k) | ($115.4m) | |
| Net cash provided by (used in) investing activities | $379k | $7.7m | ($56.8m) | ($3.6m) | $453.1m | $308.6m | ($49.7m) | ($33.4m) | ($198.1m) | |
| Issuance Of Debt | — | — | — | — | — | $7.8b | $7.8b | $9.5b | $11.2b | |
| Long Term Debt Issuance | — | — | — | — | — | $0 | $930.0m | $845.0m | $520.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | ($1.1b) | $361.2m | $380.7m | $138.1m | |
| Net Long Term Debt Issuance | — | — | — | — | — | $0 | $0 | $125.0m | $0 | |
| Net Short Term Debt Issuance | — | — | — | — | — | ($1.1b) | $361.2m | $255.7m | $138.1m | |
| Short Term Debt Issuance | — | — | — | — | — | $7.8b | $6.9b | $8.6b | $10.7b | |
| Repayment of debt | ($304.3m) | ($670.7m) | ($105.0m) | ($275.0m) | ($195.0m) | $0 | ($930.0m) | ($720.0m) | ($520.0m) | |
| Long Term Debt Payments | — | — | — | — | — | $0 | ($930.0m) | ($720.0m) | ($520.0m) | |
| Short Term Debt Payments | — | — | — | — | — | ($8.9b) | ($6.6b) | ($8.4b) | ($10.6b) | |
| Net Common Stock Issuance | — | — | — | — | — | ($294.8m) | ($37.4m) | ($212.6m) | ($127.1m) | |
| Common Stock Payments | — | — | — | — | — | ($294.8m) | ($37.4m) | ($212.6m) | ($127.1m) | |
| Earnings and tax distributions to limited partnership interests and other noncontrolling interests | ($71k) | ($46.5m) | ($140.6m) | ($81.9m) | ($14.9m) | ($81.0m) | ($35.4m) | ($38.7m) | ($31.6m) | |
| Dividends to stockholders | $0 | ($41.8m) | ($69.2m) | ($23.2m) | ($7.6m) | ($17.9m) | ($20.9m) | ($20.6m) | ($21.7m) | |
| Cash Dividends Paid | — | — | — | — | — | ($17.9m) | ($20.9m) | ($20.6m) | ($21.7m) | |
| Common Stock Dividend Paid | — | — | — | — | — | ($17.9m) | ($20.9m) | ($20.6m) | ($21.7m) | |
| Dividends Received CFI | — | — | — | — | $0 | $0 | — | — | — | |
| Net Other Financing Charges | — | — | — | — | — | ($92.5m) | ($41.4m) | ($58.0m) | ($34.2m) | |
| Net cash provided by (used in) financing activities | ($798.2m) | $338.7m | ($895.5m) | $817.8m | ($396.3m) | ($1.5b) | $261.5m | $89.5m | ($44.8m) | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $55.8m | $14.0m | $34.5m | $36.5m | $8.1m | $46.5m | ($54.2m) | $46.2m | ($71.0m) | |
| Cash and cash equivalents and restricted cash at beginning of period | $173.4m | $187.4m | $221.9m | $258.4m | $266.5m | $313.0m | $258.7m | $304.9m | $233.9m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | $46.5m | ($54.2m) | $46.2m | ($71.0m) | |
| Income Tax Paid Supplemental Data | — | — | — | — | — | $99.6m | $57.2m | $49.8m | $43.5m | |
| Interest Paid Supplemental Data | — | — | — | — | — | $37.8m | $45.4m | $32.1m | $56.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.