Re/Max Holdings IncRe/Max Holdings Inc
Re/Max Holdings Inc

Re/Max Holdings Inc

RMAX
Real Estate·Real Estate Management & Development

RE/MAX Holdings, Inc. engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage and Marketing Funds. The Real Estate segment consists of the company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription for Gadberry and the First app. The Mortgage segment consists of the firm's mortgage brokerage franchising operations under the Motto Mortgage brand name and mortgage loan processing services and licensed software under the wemlo brand. The Marketing Funds segment is involved in marketing campaigns designed to build and maintain brand awareness and the development and operation of agent marketing technology. The company was founded by David L. Liniger and Gail A. Liniger in 1973 and is headquartered in Denver, CO.

Colorado; U.S.A
Market cap
No dataNo data
Revenue
$291.6M−5.2% YoY
Net income
$8.2M+14.5% YoY
Free cash flow
$33.5M−36.8% YoY

Market

Listed stock
RMAXPriceNYSE
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Financial performance

Revenue
$291.6M−5.2% YoY
Operating income
$47M+17.1% YoY
Net income
$8.2M+14.5% YoY
Free cash flow
$33.5M−36.8% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $329.7M, 2022 $353.4M, 2023 $325.7M, 2024 $307.7M, 2025 $291.6M. Operating income: 2021 $-9.9M, 2022 $38.2M, 2023 $-10.6M, 2024 $40.2M, 2025 $47M. Net income: 2021 $-15.6M, 2022 $6.1M, 2023 $-69M, 2024 $7.1M, 2025 $8.2M. Free cash flow: 2021 $27.2M, 2022 $61.2M, 2023 $21.8M, 2024 $53M, 2025 $33.5M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-5.2%+30 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-9.9M, 2022-12-31 $38.2M, 2023-12-31 $-10.6M, 2024-12-31 $40.2M, 2025-12-31 $47M. Net income: 2021-12-31 $-15.6M, 2022-12-31 $6.1M, 2023-12-31 $-69M, 2024-12-31 $7.1M, 2025-12-31 $8.2M. Free cash flow: 2021-12-31 $27.2M, 2022-12-31 $61.2M, 2023-12-31 $21.8M, 2024-12-31 $53M, 2025-12-31 $33.5M

Growth heatmap

2022202320242025CAGR
Revenue
+7.2%
-7.8%
-5.5%
-5.2%
-3.0%
Gross profit
+63.3%
+92.7%
-6.3%
-2.9%
+30.1%
Operating income
+484.8%
-127.8%
+477.7%
+17.1%
No data
Free cash flow
+125.0%
-64.3%
+142.8%
-36.8%
+5.3%

Earnings quality

Operating cash flow
$40.9M−31.5% YoY
Net income
$8.2M+14.5% YoY
Free cash flow
$33.5M−36.8% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 501%, 2024-12-31 837%, 2023-12-31 -41%, 2022-12-31 1164%, 2021-12-31 -272%. Free cash flow: 2025-12-31 411%, 2024-12-31 744%, 2023-12-31 -32%, 2022-12-31 1002%, 2021-12-31 -174%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
Latest
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Diluted shares
Latest
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
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EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
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EV / EBITDA
No data
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Free cash flow yield
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