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Re/Max Holdings (RMAX)
NYSE:RMAX
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Re/Max Holdings
(NYSE:RMAX)
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Rating:68Neutral
Price Target:
$8.50
▲(5.07% Upside)
Re/Max Holdings' overall stock score reflects a stable financial position with strong profitability margins and low leverage. The company's valuation is reasonable, and recent corporate events provide additional financial flexibility. However, challenges in revenue and cash flow growth, alongside a neutral technical outlook, temper the score.
Re/Max Holdings (RMAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$258.32M
Dividend YieldN/A
Average Volume (3M)165.48K
Price to Earnings (P/E)13.0
Beta (1Y)1.32
Revenue Growth-6.06%
EPS GrowthN/A
CountryUS
Employees536
SectorN/A
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.37
Shares Outstanding20,056,356
10 Day Avg. Volume123,877
30 Day Avg. Volume165,478
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)0.47
Price to Sales (P/S)0.65
P/FCF Ratio3.78
Enterprise Value/Market Cap-0.03
Enterprise Value/Revenue-0.03
Enterprise Value/Gross Profit-0.04
Enterprise Value/Ebitda-0.12
Forecast
1Y Price Target
$9.00Price Target Upside11.25% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Re/Max Holdings Business Overview & Revenue Model
Company DescriptionRe/Max Holdings, Inc. is a global real estate company that operates in the residential and commercial real estate sectors. Founded in 1973, Re/Max is known for its extensive franchise network, which allows independent real estate agents to operate under its brand. The company provides a range of services, including residential property sales, commercial property transactions, and real estate brokerage services, primarily through its franchise model that spans many countries worldwide.
How the Company Makes MoneyRe/Max generates revenue primarily through its franchise operations. The company charges franchisees initial franchise fees and ongoing royalties based on their sales. These royalties typically range from 5% to 6% of the gross commission income generated by the franchisees. In addition to franchise fees, Re/Max earns money from various ancillary services, including training programs, technology solutions, and marketing tools designed to support franchisees and enhance their sales capabilities. The company also benefits from strategic partnerships with mortgage and insurance companies, which can provide additional revenue streams. Overall, Re/Max's business model focuses on leveraging its brand recognition and extensive network to create a profitable franchise ecosystem.
Re/Max Holdings Earnings Call Summary
Earnings Call Date:Oct 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong momentum in agent recruitment and innovative marketing initiatives, alongside challenges such as core revenue decline and a tightened financial outlook due to market conditions.Q3-2025 Updates
Positive Updates
Record Agent Count
RE/MAX achieved an all-time high in total agent count, surpassing 147,500 agents worldwide. The U.S. agent count had its best third quarter performance in three years.
Innovative Marketing Platform
The newly launched AI-powered Marketing as a Service platform is seeing promising engagement, with a 7-figure annual run rate and plans to expand internationally.
New Leadership Appointments
Vic Lombardo joined as President of Mortgage Services, and Tom Flanagan as Chief Digital Information Officer, both bringing innovative strategies to their respective divisions.
Improved Financial Metrics
Adjusted EBITDA margin increased by 40 basis points to 35.2%, with total leverage ratio decreasing to 3.41x, offering more capital allocation flexibility.
Positive Franchise Sales Momentum
Robust franchise sales and conversion pipeline, with significant market share gains, such as in Hawaii where RE/MAX is now #2.
Negative Updates
Revenue Decline
Core revenue excluding marketing funds was $55.1 million, a decrease of 5.6% compared to the previous year, primarily due to lower U.S. agent count and adverse currency movements.
Canadian Agent Count Decline
Canadian agent count declined slightly year-over-year, reflecting continued challenges in the housing market.
Challenges in Housing Market
Existing home sales have yet to show sustained recovery, with affordability challenges persisting at lower price points.
Tightened Financial Guidance
RE/MAX tightened the top end of its full-year revenue and adjusted EBITDA guidance ranges due to uncertainties in the housing and macroeconomic environment.
Company Guidance
During the RE/MAX Holdings Third Quarter 2025 Earnings Conference Call, the company provided detailed guidance and reported several key metrics. The total revenue for the third quarter was $73.3 million, with an adjusted EBITDA of $25.8 million and an adjusted EBITDA margin of 35.2%, marking a 40 basis point increase over the previous year. The adjusted diluted EPS stood at $0.37. Despite a challenging housing market, RE/MAX saw its worldwide agent count reach a record high of over 147,500, with significant growth in the U.S. market. The company introduced new programs, Aspire, Ascend, and Appreciate, to enhance agent recruitment and retention. For the fourth quarter, RE/MAX projected revenue between $69.5 million and $73.5 million and adjusted EBITDA between $19 million and $23 million. For the full year 2025, the forecast was tightened to a revenue range of $290 million to $294 million and adjusted EBITDA of $90 million to $94 million, reflecting a slight adjustment from previous estimates. The company also emphasized its commitment to strategic investments, returning capital to shareholders, and expanding its innovative platforms like the Marketing as a Service and RE/MAX Media Network to drive long-term growth.Re/Max Holdings Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
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Re/Max Holdings Technical Analysis
Negative
8.09
Price Trends
8.11
Negative
8.58
Negative
8.31
Negative
Market Momentum
0.01
Positive
44.74
Neutral
7.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RMAX, the sentiment is Negative. The current price of 8.09 is below the 20-day moving average (MA) of 8.10, below the 50-day MA of 8.11, and below the 200-day MA of 8.31, indicating a bearish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 44.74 is Neutral, neither overbought nor oversold. The STOCH value of 7.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RMAX.
Re/Max Holdings Peers Comparison
UnderperformOutperform
Sector (―)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
70 Outperform | $803.53M | -74.29 | -25.27% | ― | 65.60% | 69.72% | |
68 Neutral | $258.32M | 13.03 | 2.87% | ― | -6.06% | ― | |
67 Neutral | $1.59B | ― | -8.09% | 2.01% | 5.08% | 41.21% | |
59 Neutral | $3.12B | 29.89 | 8.08% | 0.68% | 22.22% | 94.52% | |
58 Neutral | $222.94M | -3.63 | -41.11% | ― | 6.62% | 30.94% | |
55 Neutral | $1.60B | -12.62 | -8.15% | ― | 5.27% | 25.71% |
* Sector Average
RMAX
Re/Max Holdings
8.00
-2.63
-24.74%
HOUS
Anywhere Real Estate ate
14.57
11.09
318.68%
EXPI
eXp World Holdings
9.97
-1.44
-12.62%
NMRK
Newmark Group
17.71
5.00
39.34%
REAX
Real Brokerage
3.93
-0.68
-14.75%
DOUG
Douglas Elliman Inc.
2.54
0.89
53.94%
Re/Max Holdings Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Re/Max Holdings Extends Credit Agreement with JPMorgan
Positive
Oct 1, 2025
On September 30, 2025, RE/MAX, LLC and RMCO, LLC amended their credit agreement with JPMorgan Chase to extend the maturity date of their revolving facility from June 21, 2026, to April 21, 2028. This extension provides the company with additional financial flexibility, potentially impacting its operations and market positioning positively.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.