← NEWMARK GROUP, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Consolidated net income (loss) | $167.2m | $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 | |
| Net Income (Loss) Attributable to Parent | — | $144.5m |
$106.7m
-26.13%
|
$117.3m
+9.91%
|
$80.1m
-31.75%
|
$750.7m
+837.71%
|
$83.3m
-88.91%
|
$62.4m
-25.10%
|
$85.5m
+37.06%
|
$126.2m
+47.60%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | — | $144.5m |
$101.6m
-29.66%
|
$104.4m
+2.72%
|
$70.3m
-32.68%
|
$744.5m
+959.36%
|
$83.3m
-88.82%
|
$42.6m
-48.87%
|
$61.2m
+43.83%
|
$126.2m
+106.07%
|
|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | $145.1m | $191.9m | $161.7m | $109.3m | $978.1m | $112.5m | $62.4m | $85.5m | $155.4m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | $604k | $85.2m | $44.4m | $29.2m | $227.4m | $29.3m | $19.8m | $24.3m | $29.3m | |
| Depreciation and amortization | $72.2m | $95.8m | $97.7m | $131.1m | $141.2m | $121.7m | $165.8m | $166.2m | $174.3m | $181.3m | |
| Depreciation | $72.2m | $12.2m | $13.7m | $22.7m | $22.9m | $22.0m | $42.4m | $39.2m | $39.8m | $46.4m | |
| Amortization | — | $34.4m | $27.7m | $39.0m | $73.6m | $79.4m | $84.1m | $92.9m | $123.9m | $155.3m | |
| Amortization of Intangible Assets | — | $11.1m | $5.6m | $6.9m | $6.7m | $8.9m | $14.3m | $17.1m | $19.8m | $16.1m | |
| Capitalized Computer Software, Amortization | — | — | — | $2.0m | $1.3m | — | — | — | — | — | |
| Employee loan amortization and other non-cash compensation expense | $25.8m | $34.4m | $27.7m | $39.0m | $73.6m | $79.4m | $84.1m | $92.9m | $123.9m | $155.3m | |
| Deferred Income Tax Expense (Benefit) | — | $44.4m | $16.4m | ($27.9m) | $419k | $118.6m | ($24.5m) | ($5.2m) | $1.0m | $16.8m | |
| Deferred tax provision (benefit) | ($1.1m) | $44.4m | $16.4m | ($27.9m) | $419k | $118.6m | ($24.5m) | ($5.2m) | $1.0m | $16.8m | |
| Deferred tax asset | — | — | — | — | — | — | — | $0 | $0 | $19.5m | |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | — | — | $124.8m | ($700k) | $0 | |
| Goodwill, Impairment Loss | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | $6.3m | — | $1.6m | — | — | — | — | — | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | $6.3m | $0 | — | — | — | — | — | — | — | |
| Marketable Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment Loss | — | — | — | — | — | — | — | $0 | $0 | — | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | $14.4m | $7.6m | $0 | $0 | |
| Lease impairment | — | — | — | — | $0 | $0 | $14.4m | $7.6m | $0 | $0 | |
| Income (Loss) from Equity Method Investments | — | $1.6m | $2.8m | $7.2m | ($11.6m) | $0 | $2.8m | $14.2m | $0 | $0 | |
| Other Nonoperating Income (Expense) | — | — | — | — | $15.3m | $1.2b | ($97.7m) | $13.9m | $6.7m | $43.0m | |
| Income from an equity method investment | — | ($1.6m) | ($2.8m) | ($7.2m) | $11.6m | $0 | ($2.8m) | ($14.2m) | $0 | $0 | |
| Changes in operating assets and liabilities: | |||||||||||
| Increase (Decrease) in Accounts Receivable | — | $57.2m | $129.5m | $52.0m | ($123.7m) | $191.3m | ($42.4m) | $69.3m | ($17.7m) | $31.2m | |
| Receivables, net | $9.5m | ($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 | ($118.2m) | ($34.3m) | ($109.6m) | ($161.9m) | ($127.9m) | ($78.5m) | ($131.6m) | ($243.3m) | ($211.9m) | ($220.2m) | |
| Accounts payable, accrued expenses and other liabilities | $34.9m | $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 | |
| Accrued compensation | $29.8m | $45.8m | $50.2m | $40.0m | ($75.4m) | ($83.2m) | ($102.3m) | ($22.3m) | ($15.1m) | ($90.2m) | |
| Increase (Decrease) in Other Operating Assets | — | ($36.1m) | $9.9m | $113.2m | ($21.8m) | ($8.9m) | ($8.7m) | $9.0m | ($3.2m) | $7.7m | |
| Other | $1.2m | $1.4m | $1.6m | $4.3m | $3.4m | $3.6m | $2.2m | $1.7m | ($1.1m) | $5.9m | |
| Other assets | ($7.6m) | $36.1m | ($9.9m) | ($113.2m) | $21.8m | $8.9m | $8.7m | ($9.0m) | $3.2m | ($7.7m) | |
| Other Operating Income (Expense), Net | — | $73.9m | $127.3m | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | ($644.2m) |
$853.6m
+232.52%
|
($332.4m)
-138.94%
|
$986.8m
+396.89%
|
($777.7m)
-178.81%
|
($48.7m)
+93.74%
|
$1.2b
+2556.10%
|
($266.0m)
-122.23%
|
($9.9m)
+96.26%
|
$172.0m
+1831.09%
|
|
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | $19.1m | $21.0m | $34.5m | $19.6m | $19.7m | $62.2m | $55.4m | $31.5m | $29.4m | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | ($1.2m) | $11.3m | $5.0m | $77.3m | ($80.7m) | ($689k) | ($6k) | — | |
| Restricted Cash and Investments, Current | — | — | — | — | — | — | — | — | — | $120.2m | |
| Unrealized Gain (Loss) on Investments | — | — | $17.9m | $12.2m | — | $27.8m | $0 | $0 | — | — | |
| 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) | |
| Proceeds from maturity of restricted short-term investments | — | — | — | — | — | — | — | $0 | $0 | $219.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | $33.9m | $5.8m | $69.8m | $64.2m | — | — | — | |
| Payments for acquisitions, net of cash acquired and proceeds from divestitures | — | — | — | — | — | ($69.8m) | ($64.2m) | ($99.9m) | $0 | ($53.4m) | |
| Net Cash Provided by (Used in) Investing Activities | ($34.4m) | $379k | $7.7m | ($56.8m) | ($3.6m) | $453.1m | $308.6m | ($49.7m) | ($33.4m) | ($198.1m) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | — | $304.3m | $670.7m | — | — | — | — | — | — | — | |
| Proceeds from Issuance of Long-term Debt | — | — | $535.6m | — | — | — | — | — | — | — | |
| Borrowing of debt | — | $0 | $537.6m | $155.0m | $365.0m | $55.0m | $0 | $930.0m | $845.0m | $520.0m | |
| Repayment of debt | — | ($304.3m) | ($670.7m) | ($105.0m) | ($275.0m) | ($195.0m) | $0 | ($930.0m) | ($720.0m) | ($520.0m) | |
| Payments for Repurchase of Common Stock | — | — | $486k | $37.4m | $6.4m | $290.5m | $294.8m | $37.4m | $212.6m | $127.1m | |
| Payments of Ordinary Dividends, Common Stock | — | $101.7m | — | $0 | — | — | — | — | — | — | |
| Proceeds from Issuance of Common Stock | — | — | $9.2m | $0 | $0 | — | — | — | — | — | |
| Dividends to stockholders | — | $0 | ($41.8m) | ($69.2m) | ($23.2m) | ($7.6m) | ($17.9m) | ($20.9m) | ($20.6m) | ($21.7m) | |
| Net Cash Provided by (Used in) Financing Activities | $636.0m |
($798.2m)
-225.51%
|
$336.7m
+142.18%
|
($895.5m)
-366.00%
|
$817.8m
+191.33%
|
($396.3m)
-148.46%
|
($1.5b)
-268.05%
|
$261.5m
+117.93%
|
$89.5m
-65.76%
|
($44.8m)
-150.10%
|
|
| Net increase (decrease) in cash and cash equivalents and restricted cash | ($42.6m) | $55.8m | $12.0m | $34.5m | $36.5m | $8.1m | $46.5m | ($54.2m) | $46.2m | ($71.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $36.5m | $8.1m | $46.5m | ($54.2m) | $46.2m | ($71.0m) | |
| Cash and cash equivalents and restricted cash at beginning of period | $160.2m | $117.6m | $173.4m | $221.9m | $258.4m | $266.5m | $313.0m | $258.7m | $304.9m | $233.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $221.9m | $258.4m | $266.5m | $313.0m | $258.7m | $304.9m | $233.9m | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Payments of Financing Costs | — | $1.5m | $1.3m | $1.4m | $4.1m | $1.5m | $5.1m | $5.1m | $7.0m | $1.7m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $21.0m | $81.8m | $37.0m | $40.6m | $36.3m | $37.8m | $45.4m | $32.1m | $56.4m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $43.5m | |
| Additional Financial Items | |||||||||||
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | — | — | — | — | $0 | $0 | ($900k) | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | ($1.2m) | — | — | $1.6m | ($14.1m) | — | $0 | ($200k) | |
| Gain (Loss) on Sale of Mortgage Loans | — | $206.0m | $182.3m | $198.1m | $310.9m | $225.5m | $357.8m | — | — | — | |
| General and Administrative Expense | — | $219.2m | $331.8m | $361.9m | $294.4m | $553.6m | $534.8m | $536.7m | $597.6m | $658.9m | |
| Goodwill | — | $477.5m | $515.3m | $557.9m | $560.3m | $657.1m | $705.9m | $776.5m | $770.9m | $802.0m | |
| Income Tax Expense (Benefit) | — | $57.5m | $90.5m | $52.4m | $37.0m | $243.0m | $42.1m | $41.1m | $45.8m | $46.1m | |
| Insured Event, Gain (Loss) | — | — | — | — | — | — | — | — | — | $42.3m | |
| Realized Investment Gains (Losses) | — | — | $17.9m | $12.6m | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | ($636k) | $19.0m | ($51.1m) | ($13.7m) | ($12.5m) | $0 | $0 | — | — | |
| Gains on originated mortgage servicing rights | ($126.5m) | ($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 | ($1.1m) | $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 | $1.5m | ($2.2m) | ($18.4m) | ($5.2m) | ($24.3m) | ($21.3m) | ($712k) | ($26.7m) | ($10.2m) | ($12.2m) | |
| Loan originations—loans held for sale | ($7.7b) | ($8.8b) | ($8.6b) | ($8.8b) | ($12.4b) | ($9.1b) | ($7.8b) | ($6.9b) | ($8.6b) | ($10.7b) | |
| Loan sales—loans held for sale | $7.0b | $9.6b | $8.0b | $9.6b | $11.5b | $9.2b | $8.8b | $6.5b | $8.4b | $10.6b | |
| 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 | |
| Right-of-use liability | — | — | — | — | ($7.0m) | ($34.7m) | $51.6m | ($39.7m) | ($106.9m) | ($59.7m) | |
| 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 | ($27.3m) | ($19.1m) | ($21.0m) | ($34.5m) | ($19.6m) | ($19.7m) | ($62.2m) | ($55.4m) | ($31.5m) | ($29.4m) | |
| Proceeds from warehouse facilities | $7.7b | $8.8b | $8.6b | $8.8b | $12.4b | $9.1b | $7.8b | $6.9b | $8.6b | $10.7b | |
| Principal payments on warehouse facilities | ($7.8b) | ($8.7b) | ($8.0b) | ($9.5b) | ($11.5b) | ($9.2b) | ($8.7b) | ($6.6b) | ($8.4b) | ($10.6b) | |
| 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) | |
| Earnings and tax distributions to limited partnership interests and other noncontrolling interests | ($311k) | ($71k) | ($46.5m) | ($140.6m) | ($81.9m) | ($14.9m) | ($81.0m) | ($35.4m) | ($38.7m) | ($31.6m) | |
| Payments on acquisition earn-outs | ($11.4m) | ($18.9m) | ($4.5m) | ($4.8m) | ($4.8m) | ($42.8m) | ($6.5m) | ($983k) | $0 | ($943k) | |
| Deferred financing costs | ($1.3m) | ($1.5m) | ($1.3m) | ($1.4m) | ($4.1m) | ($1.5m) | ($5.1m) | ($5.1m) | ($7.0m) | ($1.7m) | |
| Interest | $11.7m | $21.0m | $81.8m | $37.0m | $40.6m | $36.3m | $37.8m | $45.4m | $32.1m | $56.4m | |
| Taxes | $79k | $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 |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.