RE/MAX Holdings, Inc. (RMAX) Key Metrics
RMAX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $681.2M
- Enterprise value
- $605.0M
- P/E (TTM)
- — 10-yr median 36.2
- Forward P/E
- 12.1
- PEG ratio
- 4.07
- Price / sales
- 2.4 10-yr median 2.1
- Price / book
- 0.6 10-yr median 1.1
- EV / EBITDA
- 12.3 10-yr median 9.7
- Dividend yield
- —
- Beta
- 1.84
RMAX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsRMAX valuation Price multiples at each fiscal year-end price.
RMAX returns How much profit the business earns on the capital it uses.
RMAX per-share figures Results divided by the shares outstanding at year-end.
RMAX financial health Debt, liquidity and how easily interest is covered.
RMAX efficiency & capital use Working capital cycle and where the cash goes.
RMAX valuation history
RMAX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RMAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RMAX cash returned to shareholders
RMAX price vs earnings per share
RMAX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $154.8M | $205.9M | $241.4M | $351.3M | $569.9M | $665.7M | $687.7M | $546.4M | $860.0M | $990.0M |
| Enterprise value | $495.6M | $581.3M | $642.8M | $736.0M | $947.9M | $843.9M | $896.6M | $714.2M | $1.04B | $1.16B |
| P/E ratio | 19.0 | 28.9 | — | 57.5 | — | 59.2 | 27.2 | 20.2 | 67.1 | 43.5 |
| Price / sales | 0.5 | 0.7 | 0.7 | 1.0 | 1.7 | 2.5 | 2.4 | 2.6 | 4.4 | 5.6 |
| Price / book | 0.3 | 0.5 | 0.6 | 0.7 | 1.1 | 1.3 | 1.4 | 1.1 | 1.8 | 2.1 |
| Price / free cash flow | 4.6 | 3.9 | 11.1 | 5.7 | 20.9 | 10.4 | 10.5 | 8.0 | 14.1 | 16.5 |
| Price / operating cash flow | 3.8 | 3.5 | 8.5 | 4.9 | 13.4 | 9.4 | 8.7 | 7.2 | 13.6 | 15.4 |
| EV / sales | 1.7 | 1.9 | 2.0 | 2.1 | 2.9 | 3.2 | 3.2 | 3.4 | 5.3 | 6.6 |
| EV / EBITDA | 6.4 | 8.1 | 24.2 | 9.8 | 46.2 | 13.0 | 9.7 | 7.8 | 8.7 | 13.4 |
| EV / free cash flow | 14.8 | 11.0 | 29.4 | 12.0 | 34.8 | 13.2 | 13.6 | 10.5 | 17.0 | 19.4 |
| Earnings yield | 5.3% | 3.5% | −28.6% | 1.7% | −2.7% | 1.7% | 3.7% | 4.9% | 1.5% | 2.3% |
| Free cash flow yield | 21.6% | 25.8% | 9.0% | 17.4% | 4.8% | 9.6% | 9.6% | 12.5% | 7.1% | 6.0% |
| Dividend yield | 0.3% | 0.3% | 5.6% | 5.2% | 3.1% | 2.5% | 2.2% | 2.6% | 1.5% | 1.1% |
| Shareholder yield (dividends + buybacks) | 3.3% | 1.8% | 7.0% | 14.9% | 4.1% | 2.8% | 2.4% | 2.8% | 1.6% | 1.1% |
| Share price at fiscal year-end | $7.59 | $10.67 | $13.33 | $18.64 | $30.49 | $36.33 | $38.49 | $30.75 | $48.50 | $56.00 |
| Per share | ||||||||||
| Revenue per share | $14.29 | $15.95 | $17.98 | $18.75 | $17.64 | $14.52 | $15.80 | $11.97 | $11.05 | $9.97 |
| Earnings per share | $0.40 | $0.37 | −$3.81 | $0.32 | −$0.84 | $0.61 | $1.41 | $1.52 | $0.72 | $1.29 |
| Operating cash flow per share | $2.00 | $3.09 | $1.56 | $3.78 | $2.27 | $3.87 | $4.42 | $4.28 | $3.57 | $3.64 |
| Free cash flow per share | $1.64 | $2.75 | $1.21 | $3.25 | $1.46 | $3.49 | $3.68 | $3.84 | $3.45 | $3.39 |
| Cash per share | $5.82 | $5.01 | $4.56 | $5.77 | $6.76 | $5.53 | $4.65 | $3.38 | $2.87 | $3.26 |
| Book value per share | $22.18 | $22.26 | $22.70 | $25.47 | $27.19 | $28.22 | $27.87 | $27.10 | $26.33 | $26.24 |
| Tangible book value per share | $9.91 | $9.27 | $2.72 | $4.00 | $3.36 | $13.05 | $12.25 | $11.52 | $11.49 | $12.34 |
| Dividends per share | $0.02 | $0.03 | $0.75 | $0.97 | $0.95 | $0.89 | $0.84 | $0.81 | $0.72 | $0.60 |
| Capex per share | $0.36 | $0.34 | $0.35 | $0.53 | $0.82 | $0.38 | $0.74 | $0.44 | $0.12 | $0.25 |
| Debt per share | $22.52 | $24.47 | $26.72 | $26.18 | $26.98 | $15.25 | $16.33 | $12.82 | $12.91 | $13.06 |
| Shares outstanding | 20.4M | 19.3M | 18.1M | 18.8M | 18.7M | 18.3M | 17.9M | 17.8M | 17.7M | 17.7M |
| Change in shares outstanding | +5.7% | +6.5% | −3.9% | +0.8% | +2.0% | +2.6% | +0.6% | +0.2% | +0.3% | +37.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.8% | 1.7% | −15.5% | 1.2% | −3.0% | 2.2% | 5.2% | 5.7% | 2.8% | 5.0% |
| Return on invested capital (ROIC) | 3.9% | 5.0% | −1.0% | 2.6% | −1.0% | 3.8% | 8.3% | 9.2% | 7.8% | 9.3% |
| Return on assets (ROA) | 1.4% | 1.2% | −10.9% | 0.8% | −2.3% | 2.0% | 5.2% | 6.5% | 3.0% | 5.5% |
| Return on tangible assets | 2.5% | 2.2% | −32.1% | 2.1% | −4.7% | 4.0% | 9.6% | 18.0% | 8.9% | 11.9% |
| Free cash flow margin | 11.5% | 17.2% | 6.7% | 17.3% | 8.3% | 24.0% | 23.3% | 32.1% | 31.2% | 34.0% |
| Income quality (OCF / net income) | 5.01 | 8.37 | — | 11.64 | — | 6.30 | 3.12 | 2.81 | 4.94 | 2.83 |
| Financial health | ||||||||||
| Total debt | $459.5M | $472.1M | $484.0M | $493.4M | $504.3M | $279.5M | $291.8M | $227.8M | $229.0M | $230.8M |
| Cash & short-term investments | $118.7M | $96.6M | $82.6M | $108.7M | $126.3M | $101.4M | $83.0M | $60.0M | $50.8M | $57.6M |
| Net debt | $340.7M | $375.4M | $401.4M | $384.7M | $378.1M | $178.2M | $208.8M | $167.8M | $178.2M | $173.2M |
| Debt / equity | 1.02 | 1.10 | 1.18 | 1.03 | 0.99 | 0.54 | 0.59 | 0.47 | 0.49 | 0.50 |
| Debt / assets | 0.79 | 0.81 | 0.84 | 0.71 | 0.65 | 0.50 | 0.54 | 0.53 | 0.56 | 0.53 |
| Net debt / EBITDA | 4.42 | 5.21 | 15.08 | 5.14 | 18.43 | 2.74 | 2.25 | 1.83 | 1.49 | 2.00 |
| Current ratio | 1.69 | 1.41 | 1.18 | 1.61 | 1.44 | 1.42 | 1.33 | 1.87 | 1.83 | 1.75 |
| Quick ratio | 1.69 | 1.41 | 1.18 | 1.37 | 1.22 | 1.25 | 1.14 | 1.87 | 1.83 | 1.75 |
| Interest coverage | 1.4 | 1.1 | -0.3 | 1.8 | -0.9 | 4.2 | 5.6 | 6.5 | 10.0 | 8.4 |
| Working capital | $98.4M | $63.8M | $27.2M | $73.3M | $64.6M | $49.1M | $35.8M | $40.6M | $36.3M | $34.7M |
| Invested capital | $793.2M | $804.9M | $812.4M | $864.6M | $886.3M | $695.4M | $706.7M | $649.4M | $645.0M | $637.0M |
| Tangible asset value | −$279.3M | −$309.0M | −$437.9M | −$374.1M | −$376.4M | −$165.3M | −$180.6M | −$197.5M | −$193.6M | −$184.9M |
| Net current asset value | −$371.3M | −$421.5M | −$476.6M | −$470.6M | −$496.3M | −$278.3M | −$301.2M | −$260.0M | −$257.3M | −$295.2M |
| Graham number | $14.12 | $13.60 | — | $13.63 | — | $19.75 | $29.78 | $30.47 | $20.69 | $27.55 |
| Graham net-net per share | −$23.16 | −$26.79 | −$30.05 | −$27.37 | −$28.83 | −$16.97 | −$18.42 | −$15.29 | −$15.29 | −$17.21 |
| Capital allocation | ||||||||||
| Dividends paid | $498,000 | $599,000 | $13.6M | $18.2M | $17.8M | $16.4M | $15.1M | $14.3M | $12.8M | $10.6M |
| Share buybacks (net) | $4.6M | $3.1M | $3.4M | $34.1M | $5.3M | $2.5M | $1.1M | $895,000 | $816,000 | $516,000 |
| Dividend payout ratio | 6.1% | 8.4% | — | 297.6% | — | 145.4% | 59.6% | 52.9% | 99.8% | 46.5% |
| Dividends + buybacks / free cash flow | 15.2% | 6.9% | 77.6% | 85.4% | 85.1% | 29.6% | 24.6% | 22.3% | 22.3% | 18.5% |
| Capex / revenue | 2.5% | 2.2% | 2.0% | 2.8% | 4.6% | 2.6% | 4.7% | 3.7% | 1.1% | 2.6% |
| Capex / operating cash flow | 18.0% | 11.1% | 22.7% | 14.0% | 35.9% | 9.7% | 16.7% | 10.2% | 3.5% | 7.0% |
| Capex / depreciation | 0.29 | 0.22 | 0.20 | 0.28 | 0.49 | 0.26 | 0.59 | 0.39 | 0.11 | 0.28 |
| Stock-based compensation / revenue | 5.7% | 6.1% | 5.8% | 6.2% | 10.4% | 6.1% | 3.9% | 4.3% | 1.5% | 1.3% |
| R&D / revenue | — | — | 0.0% | 0.3% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 25.3% | 49.5% | 78.4% | 49.2% | 54.4% | 48.5% | 42.2% | 56.5% | 54.7% | 49.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 39.0 | 41.8 | 37.9 | 34.7 | 35.8 | 40.2 | 32.2 | 35.6 | 37.0 | 37.5 |
| Days of inventory on hand | — | — | 64.1 | 124.5 | 115.2 | 114.7 | 104.0 | — | — | 4.0 |
| Days payables outstanding | 14.4 | 24.2 | 23.6 | 22.9 | 16.2 | 14.4 | 12.3 | 21.2 | 13.5 | 17.2 |
| Cash conversion cycle (days) | 24.6 | 17.7 | 78.4 | 136.2 | 134.8 | 140.5 | 123.9 | 14.3 | 23.5 | 24.3 |
| Receivables turnover | 9.35 | 8.72 | 9.63 | 10.53 | 10.21 | 9.07 | 11.33 | 10.25 | 9.87 | 9.74 |
| Payables turnover | 25.35 | 15.10 | 15.44 | 15.91 | 22.58 | 25.30 | 29.67 | 17.18 | 27.04 | 21.25 |
| Inventory turnover | — | — | 5.69 | 2.93 | 3.17 | 3.18 | 3.51 | — | — | 90.93 |
| Asset turnover | 0.50 | 0.53 | 0.51 | 0.48 | 0.49 | 0.48 | 0.58 | 0.51 | 0.46 | 0.43 |
| Average receivables | $31.2M | $35.3M | $33.8M | $33.6M | $32.3M | $29.3M | $24.9M | $20.7M | $19.9M | $18.1M |
| Average payables | $4.9M | $5.2M | $5.4M | $5.7M | $3.6M | $2.5M | $2.4M | $1.2M | $758,500 | $757,500 |
| Average inventory | — | — | $14.7M | $30.8M | $26.0M | $20.2M | $20.6M | — | $0 | $177,000 |
| Intangibles / total assets | 43.0% | 43.1% | 62.7% | 58.3% | 57.4% | 49.9% | 51.4% | 64.9% | 64.7% | 56.2% |
Computed from RMAX's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
RMAX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), RE/MAX traded at 19.0 times earnings, against a 10-year median of 36.2. RE/MAX earned a return on equity of 1.8% and a return on invested capital of 3.9% in fiscal 2025. It ended the year with $459.5 million of debt and $118.7 million in cash and short-term investments, net debt of $340.7 million. It returned $5.1 million to shareholders: $0.5 million in dividends and $4.6 million in share buybacks, 15% of free cash flow. The share count rose 15.4% from 17.7M to 20.4M over 9 years.
See the RMAX income statement, the RMAX chart for price history, or the RMAX stock overview for the latest quote and news.
RMAX key metrics FAQ
What is RE/MAX's P/E ratio?
RE/MAX traded at 19.0 times earnings at the end of fiscal 2025.
What is RE/MAX's EV/EBITDA?
RE/MAX's enterprise value was 6.4 times EBITDA at the end of fiscal 2025 (enterprise value $495.6 million, EBITDA $77.2 million); the current EV/EBITDA is 12.3.
What is RE/MAX's return on equity?
RE/MAX's return on equity (ROE) was 1.8% in fiscal 2025: net income of $8.2 million on average shareholders' equity of $440.9 million.
What is RE/MAX's ROIC?
RE/MAX's return on invested capital was 3.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does RE/MAX have?
RE/MAX had total debt of $459.5 million at the end of fiscal 2025, a debt-to-equity ratio of 1.02 and $340.7 million of net debt (4.42 times EBITDA).
What is RE/MAX's dividend yield?
RE/MAX paid $0.5 million in dividends in fiscal 2025 ($0.02 per share), a payout ratio of 6.1%.
Does RE/MAX buy back its shares?
Yes. RE/MAX spent $4.6 million on net share repurchases in fiscal 2025 Shares outstanding changed +5.7% over the year, to 20.4M..
What is RE/MAX's free cash flow yield?
RE/MAX generated $33.5 million of free cash flow in fiscal 2025, a free cash flow yield of 21.6% on its market value at year-end ($154.8 million).
What is RE/MAX's current ratio?
RE/MAX's current ratio was 1.69 at the end of fiscal 2025: current assets were 1.69 times current liabilities.