Re/Max Holdings (RMAX)
NYSE:RMAX
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Re/Max Holdings
(NYSE:RMAX)
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Rating:58Neutral
Price Target:
$10.00
▲(23.61% Upside)
Action:Reiterated
Date:06/01/26
The score is held back most by weak fundamental momentum (multi-year revenue declines and near-breakeven TTM profitability) and an extremely high P/E. These are partially offset by a substantially de-risked balance sheet with continued positive cash generation, moderately constructive technicals, and a positive earnings call emphasizing strong YoY growth, improved adjusted EBITDA, and quantified acquisition synergies despite margin and integration/leverage risks.
Re/Max Holdings (RMAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$304.47M
Dividend YieldN/A
Average Volume (3M)165.48K
Price to Earnings (P/E)499.0
Beta (1Y)1.36
Revenue Growth-5.43%
EPS Growth-93.40%
CountryUS
Employees536
SectorN/A
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.16
Shares Outstanding21,232,815
10 Day Avg. Volume123,877
30 Day Avg. Volume165,478
Financial Highlights & Ratios
PEG Ratio2.34
Price to Book (P/B)0.33
Price to Sales (P/S)0.52
P/FCF Ratio4.50
Enterprise Value/Market Cap1.78
Enterprise Value/Revenue1.89
Enterprise Value/Gross Profit2.82
Enterprise Value/Ebitda8.73
Forecast
1Y Price Target
$13.80Price Target Upside70.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Re/Max Holdings Business Overview & Revenue Model
Company Description
RE/MAX Holdings, Inc. functions as a global franchisor specializing in real estate and mortgage brokerage services, with operations spanning the United States, Canada, and various international markets. Its business activities are structured acros...
How the Company Makes Money
Re/Max Holdings primarily makes money by franchising its brands rather than by directly brokering real estate transactions. Its key revenue streams generally include: (1) Ongoing franchise fees and dues from RE/MAX real estate brokerage offices an...
Re/Max Holdings Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presents a majority of positive operational and financial developments — strong revenue growth (+32% YoY), significant adjusted EBITDA expansion (+80% YoY), transaction and agent growth (+25% transactions) and tangible progress across ancillary products (Real Wallet, Title, Mortgage). Management also announced a strategic acquisition of RE/MAX with quantified synergies and cross‑sell opportunities. Offsetting risks include an ongoing operating loss (albeit improved), gross margin pressure from capped agent mix, a near‑term step‑up in acquisition costs and the need to execute a complex integration while carrying acquisition-related leverage. On balance, highlights materially outweigh the identified lowlights given the growth, profitability trajectory and clear strategic rationale for scale.Positive Updates
Strong Revenue Growth
Q1 revenue of $466.0M, up 32% year-over-year.
Negative Updates
Operating Loss Remains Negative
Operating loss of -$3.4M in Q1 (improved vs prior year but still in the red).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Q1 revenue of $466.0M, up 32% year-over-year.
Read all positive updates
Company Guidance
Management gave directional (not formal) guidance: they expect Q2 revenue to rise sequentially with normal seasonality, but gross margin to trend lower through the year as more agents hit commission caps (Q1 gross margin 9.1% vs 9.6% a year ago), with Q2 YoY margin pressure similar to Q1 and a flatter YoY trend expected in H2. They warned Q2 operating expenses will reflect a material step‑up in RE/MAX acquisition‑related costs (to be reported as non‑recurring) but reiterated the plan to grow OpEx slower than revenue to drive continued YoY improvement in adjusted EBITDA (Q1 adjusted EBITDA $14.9M, +80% YoY) and improved operating loss (Q1 operating loss $3.4M). On the transaction and capital plan they target closing in H2, modeled RE/MAX at roughly $880M enterprise value (~9x trailing adj. EBITDA of ~$94M, ~7x post‑synergies), underwrote $30M of run‑rate cost synergies, will take on debt but expect to delever to ~2x net debt/adjusted EBITDA by the end of the second full fiscal year post‑close, and noted ancillary tailwinds (ancillary revenue $3M, +34%; Real Wallet revenue $436k, ~+250%; weekly debit card spend >$1M; deposits >$25M) that should help margins over time.Re/Max Holdings Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
62
Positive
Cash Flow
58
Neutral
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Re/Max Holdings Technical Analysis
Neutral
8.09
Price Trends
8.44
Positive
7.61
Positive
8.03
Positive
Market Momentum
0.10
Positive
50.51
Neutral
51.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RMAX, the sentiment is Neutral. The current price of 8.09 is below the 20-day moving average (MA) of 9.25, below the 50-day MA of 8.44, and above the 200-day MA of 8.03, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 50.51 is Neutral, neither overbought nor oversold. The STOCH value of 51.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RMAX.
Re/Max Holdings Peers Comparison
UnderperformOutperform
Sector (―)
RMAX
Re/Max Holdings
9.01
0.77
9.34%
NMRK
Newmark Group
14.81
3.05
25.97%
REAX
Real Brokerage
1.59
-2.57
-61.78%
DOUG
Douglas Elliman Inc.
1.75
-1.15
-39.66%
Re/Max Holdings Corporate Events
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsStock Split
RE/MAX and Real Brokerage Announce Transformative Merger Agreement
Positive
Apr 28, 2026
On April 26, 2026, RE/MAX Holdings, Inc. entered into an Arrangement Agreement and Plan of Merger with The Real Brokerage Inc. and several subsidiaries to combine into a new holding company to be named Real REMAX Group. Upon closing, RE/MAX shareh...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Real Brokerage to Acquire RE/MAX, Form Real REMAX Group
Positive
Apr 27, 2026
On April 27, 2026, The Real Brokerage Inc. and RE/MAX Holdings announced a definitive agreement under which Real will acquire RE/MAX for an implied enterprise value of about $880 million, creating a combined technology-enabled global real estate p...
Business Operations and StrategyLegal Proceedings
Re/Max Settles Class Action, Reducing Litigation Uncertainty
Negative
Mar 25, 2026
On March 19, 2026, RE/MAX, LLC entered into a Stipulation and Agreement of Settlement to resolve all remaining claims against it in the putative class action Mya Batton et al. v. The National Association of Realtors et al., which had been pending ...
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.