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RE/MAX Holdings, Inc.

RMAX Clue Score43
United States Fiscal year ends December CIK 0001581091
$12.36 +0.00% Close, 25 Aug 2026
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Price $12.36 −63.48% Close, 25 Aug 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue175.6Operating income71.3Net income22.2EPS, diluted1.26Fiscal year 2017Revenue193.7 +10.3%Operating income98.3Net income10.1 −54.6%EPS, diluted0.58 −54.0%Fiscal year 2018Revenue212.6 +9.8%Operating income78.4Net income27.1 +168.7%EPS, diluted1.53 +163.8%Fiscal year 2019Revenue282.3 +32.8%Operating income69.0Net income25.3 −6.8%EPS, diluted1.41 −7.8%Fiscal year 2020Revenue266.0 −5.8%Operating income38.6Net income11.3 −55.5%EPS, diluted0.61 −56.7%Fiscal year 2021Revenue329.7 +23.9%Operating income−9.9Net income−24.6 −318.8%Fiscal year 2022Revenue353.4 +7.2%Operating income38.2Net income10.8Fiscal year 2023Revenue325.7 −7.8%Operating income−10.6Net income−98.5 −1,015.6%Fiscal year 2024Revenue307.7 −5.5%Operating income40.2Net income8.1Fiscal year 2025Revenue291.6 −5.2%Operating income47.0Net income13.4 +66.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 175.6 193.7 212.6 282.3 266.0 329.7 353.4 325.7 307.7 291.6
Growth +10.3% +9.8% +32.8% −5.8% +23.9% +7.2% −7.8% −5.5% −5.2%
Operating income 71.3 98.3 78.4 69.0 38.6 −9.9 38.2 −10.6 40.2 47.0
Net income 22.2 10.1 27.1 25.3 11.3 −24.6 10.8 −98.5 8.1 13.4
Growth −54.6% +168.7% −6.8% −55.5% −318.8% −1,015.6% +66.3%
EPS, diluted 1.26 0.58 1.53 1.41 0.61 n/a n/a n/a n/a n/a
Growth −54.0% +163.8% −7.8% −56.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin40.6%Net margin12.7%Free cash flow margin34.1%Fiscal year 2017Operating margin50.8%Net margin5.2%Free cash flow margin31.5%Fiscal year 2018Operating margin36.9%Net margin12.8%Free cash flow margin32.1%Fiscal year 2019Operating margin24.4%Net margin9.0%Free cash flow margin23.3%Fiscal year 2020Operating margin14.5%Net margin4.2%Free cash flow margin24.0%Fiscal year 2021Operating margin−3.0%Net margin−7.5%Free cash flow margin8.3%Fiscal year 2022Operating margin10.8%Net margin3.0%Free cash flow margin17.3%Fiscal year 2023Operating margin−3.3%Net margin−30.2%Free cash flow margin6.7%Fiscal year 2024Operating margin13.1%Net margin2.6%Free cash flow margin17.2%Fiscal year 2025Operating margin16.1%Net margin4.6%Free cash flow margin11.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 40.6% 50.8% 36.9% 24.4% 14.5% −3.0% 10.8% −3.3% 13.1% 16.1%
Net margin 12.7% 5.2% 12.8% 9.0% 4.2% −7.5% 3.0% −30.2% 2.6% 4.6%
Free cash flow margin 34.1% 31.5% 32.1% 23.3% 24.0% 8.3% 17.3% 6.7% 17.2% 11.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow64.4Capital expenditure−4.5Free cash flow59.9Dividends paid−10.6Fiscal year 2017Operating cash flow63.3Capital expenditure−2.2Free cash flow61.1 +2.0%Dividends paid−12.8Fiscal year 2018Operating cash flow76.1Capital expenditure−7.8Free cash flow68.3 +11.8%Dividends paid−14.3Fiscal year 2019Operating cash flow79.0Capital expenditure−13.2Free cash flow65.7 −3.7%Dividends paid−15.1Fiscal year 2020Operating cash flow70.8Capital expenditure−6.9Free cash flow63.9 −2.7%Dividends paid−16.4Fiscal year 2021Operating cash flow42.4Capital expenditure−15.2Free cash flow27.2 −57.5%Dividends paid−17.8Fiscal year 2022Operating cash flow71.1Capital expenditure−9.9Free cash flow61.2 +125.0%Buybacks−34.1Dividends paid−18.2Fiscal year 2023Operating cash flow28.3Capital expenditure−6.4Free cash flow21.8 −64.3%Buybacks−3.4Dividends paid−13.6Fiscal year 2024Operating cash flow59.7Capital expenditure−6.6Free cash flow53.0 +142.8%Dividends paid−0.6Fiscal year 2025Operating cash flow40.9Capital expenditure−7.4Free cash flow33.5 −36.8%Dividends paid−0.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 64.4 63.3 76.1 79.0 70.8 42.4 71.1 28.3 59.7 40.9
Capital expenditure −4.5 −2.2 −7.8 −13.2 −6.9 −15.2 −9.9 −6.4 −6.6 −7.4
Free cash flow 59.9 61.1 68.3 65.7 63.9 27.2 61.2 21.8 53.0 33.5
Growth +2.0% +11.8% −3.7% −2.7% −57.5% +125.0% −64.3% +142.8% −36.8%
Buybacks n/a n/a n/a n/a n/a n/a −34.1 −3.4 n/a n/a
Dividends paid −10.6 −12.8 −14.3 −15.1 −16.4 −17.8 −18.2 −13.6 −0.6 −0.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash57.6Total debt230.8Net cash (debt)−173.2Shareholders’ equity464.7Debt to equity0.50Fiscal year 2017Cash50.8Total debt229.0Net cash (debt)−178.2Shareholders’ equity460.1Debt to equity0.50Fiscal year 2018Cash60.0Total debt227.8Net cash (debt)−167.8Shareholders’ equity481.0Debt to equity0.47Fiscal year 2019Cash83.0Total debt225.7Net cash (debt)−142.7Shareholders’ equity498.1Debt to equity0.45Fiscal year 2020Cash101.4Total debt223.6Net cash (debt)−122.2Shareholders’ equity517.7Debt to equity0.43Fiscal year 2021Cash126.3Total debt452.1Net cash (debt)−325.8Shareholders’ equity508.3Debt to equity0.89Fiscal year 2022Cash108.7Total debt448.3Net cash (debt)−339.7Shareholders’ equity481.2Debt to equity0.93Fiscal year 2023Cash82.6Total debt444.6Net cash (debt)−362.0Shareholders’ equity411.1Debt to equity1.08Fiscal year 2024Cash96.6Total debt440.8Net cash (debt)−344.2Shareholders’ equity429.5Debt to equity1.03Fiscal year 2025Cash118.7Total debt436.8Net cash (debt)−318.0Shareholders’ equity452.4Debt to equity0.97
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 57.6 50.8 60.0 83.0 101.4 126.3 108.7 82.6 96.6 118.7
Total debt 230.8 229.0 227.8 225.7 223.6 452.1 448.3 444.6 440.8 436.8
Net cash (debt) −173.2 −178.2 −167.8 −142.7 −122.2 −325.8 −339.7 −362.0 −344.2 −318.0
Shareholders’ equity 464.7 460.1 481.0 498.1 517.7 508.3 481.2 411.1 429.5 452.4
Debt to equity 0.50 0.50 0.47 0.45 0.43 0.89 0.93 1.08 1.03 0.97

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
40.6% 50.8% 36.9% 24.4% 14.5% −3.0% 10.8% −3.3% 13.1% 16.1%
35.3% 45.9% 31.4% 20.7% 11.2% −6.7% 5.1% −12.8% 2.0% 6.7%
12.7% 5.2% 12.8% 9.0% 4.2% −7.5% 3.0% −30.2% 2.6% 4.6%
34.1% 31.5% 32.1% 23.3% 24.0% 8.3% 17.3% 6.7% 17.2% 11.5%
Spending
50.1% 55.2% 56.6% 42.2% 48.5% 54.4% 49.2% 52.7% 49.5% 50.3%
2.6% 1.1% 3.7% 4.7% 2.6% 4.6% 2.8% 2.0% 2.2% 2.5%
24.5% 64.8% 24.6% 18.8% 30.8% n/a 40.7% n/a −30.3% 31.6%
Returns
4.8% 2.2% 5.6% 5.1% 2.2% −4.8% 2.2% −24.0% 1.9% 3.0%
5.1% 2.4% 6.3% 4.8% 2.1% −3.2% 1.5% −17.1% 1.4% 2.3%
Balance and payout
0.50 0.50 0.47 0.45 0.43 0.89 0.93 1.08 1.03 0.97
86.1% 88.1% 82.5% 83.6% 81.4% 91.1% 95.4% 113.2% 110.0% 105.0%
47.6% 126.7% 52.7% 59.6% 145.4% n/a 169.1% n/a 7.4% 3.7%
17.7% 20.9% 21.0% 22.9% 25.6% 65.6% 85.4% 77.6% 1.1% 1.5%