MMI (MMI) financial statements
MMI reported revenue of $755M in fiscal 2025, up 0.6% a year over 9 years.
Net income was -$2M and the operating margin -1.8%, against 14.8% in 2016.
Free cash flow was $59M, and the company returned $21M in dividends and $25M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MMI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $717M | $720M | $815M | $806M | $717M | $1.3B | $1.3B | $646M | $696M | $755M |
| Cost of revenue | $445M | $447M | $503M | — | — | — | — | — | — | — |
| Gross profit | $273M | $273M | $312M | — | — | — | — | — | — | — |
| Selling, general and admin | $162M | $172M | $193M | $203M | $205M | $255M | $300M | $285M | $281M | $286M |
| Operating income | $107M | $96M | $112M | $96M | $54M | $189M | $137M | -$59M | -$33M | -$14M |
| Interest expense | $2M | $1M | $1M | $1M | $900,000 | $580,000 | $708,000 | $888,000 | $812,000 | $773,000 |
| Pre-tax income | $107M | $99M | $117M | $108M | $59M | $193M | $142M | -$40M | -$13M | $3M |
| Income tax | $42M | $48M | $30M | $31M | $17M | $51M | $38M | -$6M | -$666,000 | $5M |
| Net income | $65M | $52M | $87M | $77M | $43M | $142M | $104M | -$34M | -$12M | -$2M |
| EPS (diluted) | $1.66 | $1.32 | $2.22 | $1.95 | $1.08 | $3.55 | $2.59 | -$0.88 | -$0.32 | -$0.05 |
| Diluted shares | 39M | 39M | 39M | 40M | 40M | 40M | 40M | 39M | 39M | 39M |
| Gross margin | 38.0% | 38.0% | 38.3% | — | — | — | — | — | — | — |
| Operating margin | 14.8% | 13.4% | 13.8% | 12.0% | 7.5% | 14.6% | 10.6% | -9.2% | -4.7% | -1.8% |
| Net margin | 9.0% | 7.2% | 10.7% | 9.5% | 6.0% | 11.0% | 8.0% | -5.3% | -1.8% | -0.3% |
Balance sheet
Fiscal years, from MMI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $215M | $294M | $352M | $383M | $401M | $566M | $489M | $340M | $343M | $252M |
| Total current assets | $234M | $320M | $371M | $410M | $429M | $608M | $527M | $394M | $410M | $309M |
| Property, plant and equipment | $16M | $17M | $20M | $23M | $23M | $23M | $28M | $27M | $26M | $24M |
| Goodwill | — | $0 | $11M | $15M | $33M | $34M | $38M | $38M | $38M | $38M |
| Total assets | $394M | $460M | $566M | $709M | $779M | $1.0B | $1.0B | $878M | $870M | $827M |
| Total current liabilities | $78M | $83M | $93M | $102M | $120M | $226M | $152M | $105M | $133M | $121M |
| Total liabilities | $135M | $145M | $157M | $214M | $232M | $349M | $290M | $233M | $239M | $224M |
| Shareholders' equity | $259M | $315M | $410M | $495M | $547M | $696M | $714M | $645M | $631M | $603M |
| Net debt | -$187M | -$221M | -$215M | -$233M | -$243M | -$382M | -$236M | -$171M | -$153M | -$162M |
Cash flow
Fiscal years, from MMI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74M | $67M | $117M | $25M | $38M | $256M | $14M | -$72M | $22M | $67M |
| Capital spending | $9M | $7M | $8M | $9M | $7M | $7M | $12M | $9M | $8M | $8M |
| Free cash flow | $65M | $60M | $109M | $16M | $31M | $249M | $2M | -$82M | $14M | $59M |
| Stock-based compensation | $7M | $9M | $12M | $9M | $10M | $10M | $17M | $24M | $24M | $24M |
| Dividends paid | — | — | — | — | $0 | $0 | $60M | $20M | $20M | $21M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$29M | -$39M | -$785,000 | -$25M |
| Free cash flow margin | 9.1% | 8.3% | 13.4% | 2.0% | 4.3% | 19.2% | 0.2% | -12.7% | 2.0% | 7.8% |
| Dividends per share | — | — | — | — | — | — | $1.50 | $0.52 | $0.52 | $0.53 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for MMI.
Open MMI in InvestinglyQuestions
What was MMI's revenue in 2025?
$755M in fiscal 2025, from its 10-K filing.
How much free cash flow does MMI generate?
$59M in fiscal 2025 (operating cash flow minus capital spending).
From MMI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.