RE/MAX Holdings, Inc. (RMAX) Income Statement
RMAX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRMAX revenue and net income
Where RMAX's revenue goes
2025Each bar shows an amount and its share of revenue. RMAX kept 2.8% of revenue as net income.
RMAX profit margins
RMAX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −5.2% | −6.2% | +1.9% | +5.1% |
| Gross profit | −26.5% | −13.9% | −3.6% | +0.4% |
| Operating income | +13.2% | +6.0% | +3.3% | −4.8% |
| Net income | +14.5% | +10.1% | −6.2% | −6.9% |
| EPS (diluted) | +0.8% | −15.6% | −7.1% | −2.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RMAX quarterly EPS vs estimates
RE/MAX beat the analyst EPS estimate in 7 of the last 8 quarters.
RMAX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $291.6M | $307.7M | $325.7M | $353.4M | $329.7M | $266.0M | $282.3M | $212.6M | $195.9M | $176.3M |
| Cost of revenue | $123.5M | $79.0M | $83.9M | $90.3M | $82.4M | $64.4M | $72.3M | $20.7M | $20.5M | $16.1M |
| Gross profit | $168.1M | $228.7M | $241.8M | $263.1M | $247.3M | $201.6M | $210.0M | $191.9M | $175.4M | $160.2M |
| Research & development | — | — | $0 | $1.2M | $0 | — | $0 | $0 | $0 | $0 |
| Sales, general & admin | $73.9M | $152.3M | $255.4M | $174.0M | $179.5M | $129.0M | $119.2M | $120.2M | $107.3M | $87.6M |
| Total operating expenses | $122.6M | $188.5M | $252.4M | $224.9M | $257.2M | $163.0M | $141.0M | $140.9M | $127.8M | $103.7M |
| Operating income | $45.5M | $40.2M | −$10.6M | $38.2M | −$9.9M | $38.6M | $69.0M | $77.9M | $100.2M | $72.4M |
| Interest income | $3.6M | $3.7M | $4.1M | $1.5M | $217,000 | $340,000 | $1.4M | $676,000 | $352,000 | $160,000 |
| Interest expense | $31.7M | $36.3M | $35.7M | $20.9M | $11.3M | $9.2M | $12.2M | $12.1M | $10.0M | $8.6M |
| Income before taxes | $19.6M | $6.2M | −$41.5M | $18.1M | −$22.2M | $29.7M | $58.3M | $66.2M | $90.8M | $63.1M |
| Income taxes | $6.2M | −$1.9M | $56.9M | $7.4M | $2.5M | $9.2M | $11.0M | $15.8M | $55.6M | $15.3M |
| Net income | $8.2M | $7.1M | −$69.0M | $6.1M | −$15.6M | $11.2M | $25.3M | $27.0M | $12.8M | $22.7M |
| EBITDA | $77.2M | $72.0M | $26.6M | $74.8M | $20.5M | $65.0M | $92.8M | $91.9M | $119.4M | $86.7M |
| EPS (diluted) | $1.30 | $1.29 | $1.36 | $2.16 | $2.40 | $1.88 | $2.21 | $2.25 | $1.67 | $1.74 |
| Gross margin | 57.6% | 74.3% | 74.2% | 74.4% | 75.0% | 75.8% | 74.4% | 90.3% | 89.5% | 90.9% |
| Operating margin | 15.6% | 13.1% | −3.3% | 10.8% | −3.0% | 14.5% | 24.4% | 36.6% | 51.2% | 41.1% |
| Net margin | 2.8% | 2.3% | −21.2% | 1.7% | −4.7% | 4.2% | 9.0% | 12.7% | 6.5% | 12.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $68.5M | $70.2M | $71.1M | $73.2M | $72.8M | $74.5M | $72.5M | $78.5M | $78.5M | $78.3M | $76.6M | $81.2M |
| Cost of revenue | $28.5M | $28.6M | $30.0M | $18.1M | $18.3M | $18.9M | $18.7M | $20.1M | $20.0M | $28.1M | $20.6M | $20.9M |
| Gross profit | $40.0M | $41.6M | $41.2M | $55.1M | $54.5M | $55.6M | $53.8M | $58.4M | $58.4M | $50.2M | $56.0M | $60.4M |
| Sales, general & admin | $25.2M | $46.8M | $6.0M | $32.5M | $33.9M | $43.0M | $35.8M | $35.9M | $34.9M | $45.7M | $59.7M | $43.1M |
| Total operating expenses | $27.0M | $40.9M | $31.1M | $36.8M | $40.4M | $50.2M | $49.5M | $43.2M | $42.3M | $45.7M | $65.7M | $81.4M |
| Operating income | $13.0M | $676,000 | $10.0M | $18.3M | $14.0M | $5.4M | $4.3M | $15.2M | $16.2M | $4.5M | −$9.7M | −$21.0M |
| Interest income | $802,000 | $874,000 | $933,000 | $898,000 | $841,000 | $908,000 | $903,000 | $885,000 | $949,000 | $1.0M | $1.1M | $1.2M |
| Interest expense | $7.2M | $7.2M | $7.7M | $8.1M | $8.0M | $7.9M | $8.6M | $9.2M | $9.2M | $9.3M | $9.4M | $9.3M |
| Income before taxes | −$5.2M | −$14.1M | $2.9M | $11.3M | $6.9M | −$1.4M | −$4.3M | $6.9M | $7.7M | −$4.1M | −$17.9M | −$29.0M |
| Income taxes | −$1.6M | $1.6M | $373,000 | $3.8M | $163,000 | $1.9M | −$8.4M | $3.5M | $1.5M | $1.5M | $453,000 | $53.7M |
| Net income | −$4.3M | −$9.7M | $1.4M | $4.0M | $4.7M | −$2.0M | $5.8M | $966,000 | $3.7M | −$3.4M | −$10.9M | −$59.5M |
| EBITDA | $7.8M | −$1.1M | $16.8M | $25.7M | $20.6M | $13.1M | $11.4M | $23.4M | $23.6M | $13.0M | −$384,000 | −$11.5M |
| EPS (diluted) | $0.25 | $0.16 | $0.30 | $0.37 | $0.39 | $0.24 | $0.30 | $0.38 | $0.41 | $0.20 | $0.30 | $0.40 |
| Gross margin | 58.4% | 59.3% | 57.8% | 75.2% | 74.9% | 74.7% | 74.3% | 74.4% | 74.5% | 64.2% | 73.1% | 74.3% |
| Operating margin | 18.9% | 1.0% | 14.1% | 25.0% | 19.3% | 7.2% | 5.9% | 19.4% | 20.6% | 5.8% | −12.7% | −25.9% |
| Net margin | −6.3% | −13.9% | 2.0% | 5.4% | 6.4% | −2.6% | 8.0% | 1.2% | 4.7% | −4.3% | −14.2% | −73.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RMAX's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RMAX financial results
In fiscal year 2025 (ended December 31, 2025), RE/MAX reported revenue of $291.6 million, down 5.2% from the year before. It had net income of $8.2 million (up 14.5%), a net profit margin of 2.8%. Diluted earnings per share came to $1.30. Over five years revenue grew at an average rate of 1.9% a year.
See the RMAX stock overview for the latest quote and news, or the RMAX chart for price history and technical indicators.
RMAX income statement FAQ
What is RE/MAX's annual revenue?
RE/MAX reported total revenue of $291.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 5.2% from $307.7 million the previous year.
Is RE/MAX profitable?
Yes. RE/MAX reported net income of $8.2 million in fiscal 2025, a net profit margin of 2.8%; its operating margin was 15.6%.
What is RE/MAX's gross margin?
RE/MAX's gross margin was 57.6% in fiscal 2025: for every $100 of revenue, RE/MAX kept $58 after the direct cost of its products and services.
How fast is RE/MAX growing?
Revenue grew 1.9% a year on average over the last five fiscal years, from $266.0 million to $291.6 million.
What are RE/MAX's earnings per share?
RE/MAX earned $1.30 per diluted share in fiscal 2025, compared with $1.29 a year earlier.
When does RE/MAX's fiscal year end?
RE/MAX's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.