Real Estate Services Industry Report
Market Cap: $219.7B
Stocks: 62
Median P/E: 13.9x
Median ROIC: 5.2%
Data sourced from SEC EDGAR filings. Report refreshed weekly.
Part of the Real Estate sector.
Performance Dashboard
| Period | Sector (MCW) | Sector (Median) |
|---|---|---|
| 1 Day | +0.4% | 0.0% |
| 1 Week | +0.6% | +0.5% |
| 1 Month | — | — |
| 3 Months | — | — |
| 6 Months | — | — |
| YTD | +1.7% | +0.2% |
| 1 Year | +3.1% | +1.2% |
| 3 Years | +49.4% | -9.4% |
| 5 Years | +22.5% | -24.6% |
Today's Breadth: 20 advancing · 25 declining · 8 flat
Valuation Summary
| Metric | Median | P25 | P75 | vs 5Y Avg |
|---|---|---|---|---|
| P/E | 13.9x | 5.4x | 27.2x | -20% |
| P/B | 0.9x | 0.7x | 1.8x | -25% |
| P/S | 1.3x | 0.3x | 5.1x | — |
| P/FCF | 9.5x | 3.8x | 17.9x | — |
| EV/EBITDA | 12.7x | 9.6x | 17.4x | — |
| EV/EBIT | 15.7x | 13.6x | 24.4x | — |
Earnings Yield
5.3%
FCF Yield
4.9%
Below Fair Value
41% of stocks
Profitability Profile
Margins
| Metric | Median | 5Y Avg | P25 | P75 |
|---|---|---|---|---|
| Gross Margin | 34.0% | 34.0% | 19.1% | 53.2% |
| Operating Margin | 9.4% | — | -0.9% | 28.6% |
| Net Margin | 5.0% | 3.8% | -0.9% | 23.0% |
| FCF Margin | 7.4% | — | 0.6% | 17.0% |
Returns on Capital
| Metric | Median | 5Y Avg | P25 | P75 |
|---|---|---|---|---|
| ROE | 2.8% | — | -2.7% | 9.6% |
| ROA | 1.3% | — | -1.1% | 4.5% |
| ROIC | 5.2% | 6.5% | -0.3% | 9.2% |
Growth Metrics
| Metric | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|
| Revenue | +6.1% | +2.8% | +9.5% |
| EPS | +50.0% | -8.0% | +11.7% |
| Free Cash Flow | +12.9% | -5.4% | +6.1% |
All values represent sector median growth rates.
Balance Sheet Health
Debt / Equity
0.4x
Net Debt / EBITDA
2.0x
Interest Coverage
2.9x
Current Ratio
1.3x
Altman Z-Score
Safe (>3): 10 (18%)
Gray (1.8–3): 11 (20%)
Distress (<1.8): 34 (62%)
Piotroski F-Score
Strong (7–9): 7 (12%)
Moderate (4–6): 30 (50%)
Weak (0–3): 23 (38%)
Top Companies
| Symbol | #▲ | Mkt Cap | P/E | EV/EBITDA | ROIC | Net Mgn | Rev Gr. | Div Yld | YTD | Qual. |
|---|---|---|---|---|---|---|---|---|---|---|
| HEIMAR-IC | 1 | $62.3B | 8.1x | — | — | 55.5% | +6.8% | — | — | 1/9 |
| CBRE | 2 | $43.9B | 42.8x | 20.9x | 12.1% | 2.9% | +13.4% | — | +3.4% | 3/9 |
| BEKE | 3 | $17.0B | 17.2x | — | 12.1% | 4.3% | +18.3% | 2.0% | -2.6% | 4/9 |
| INVH | 4 | $15.9B | 28.6x | 12.5x | 6.8% | 21.5% | +4.2% | 4.3% | +1.1% | 5/9 |
| JLL | 5 | $15.7B | 21.2x | 6.8x | 11.6% | 3.0% | +11.4% | — | +1.2% | 3/9 |
| FOXT-L | 6 | $13.0B | 14.6x | 13.9x | 7.2% | 8.5% | +14.2% | 1.4% | — | 2/9 |
| TRNO | 7 | $6.7B | 15.4x | 12.3x | 8.8% | 84.2% | +24.5% | 3.4% | +2.1% | 7/9 |
| MRP | 8 | $5.1B | 12.1x | 13.4x | 7.6% | 67.4% | — | 8.6% | +4.2% | 1/9 |
| COMP | 9 | $4.2B | — | — | -9.8% | -0.8% | +23.7% | — | +1.6% | 0/9 |
| JOE | 10 | $3.9B | 29.6x | 18.3x | 10.4% | 22.5% | +27.4% | 1.0% | -0.1% | 6/9 |
| CWK | 11 | $3.2B | 43.5x | 9.2x | 8.5% | 0.9% | +8.9% | — | +2.1% | 1/9 |
| CURB | 12 | $3.0B | 62.7x | 18.8x | 3.1% | 21.8% | +51.3% | 2.9% | -1.1% | 4/9 |
| NMRK | 13 | $2.9B | 26.0x | 10.6x | 6.9% | 3.8% | +20.3% | 0.7% | +6.1% | 3/9 |
| UE | 14 | $2.6B | 26.1x | 12.8x | 10.9% | 19.8% | +6.1% | 3.9% | +2.0% | 2/9 |
| VAC | 15 | $2.4B | — | — | -9.5% | -6.1% | +1.3% | 5.4% | +8.6% | 2/9 |
| GTY | 16 | $1.9B | 20.4x | 13.8x | 6.0% | 34.3% | +9.0% | 6.9% | +1.9% | 2/9 |
| KW | 17 | $1.5B | — | 31.5x | -2.5% | -7.7% | -5.7% | 5.0% | +0.2% | 2/9 |
| IIPR | 18 | $1.5B | 12.4x | 8.9x | 5.7% | 43.0% | -13.8% | 15.2% | +1.0% | 4/9 |
| FOR | 19 | $1.3B | 8.0x | — | — | 10.1% | +10.1% | — | 0.0% | 3/9 |
| EFC | 20 | $1.3B | 11.4x | 14.4x | 5.2% | 35.3% | +10.1% | 11498.1% | -0.4% | 4/9 |
Industry Composition
| Industry | Stocks | Market Cap | % | |
|---|---|---|---|---|
| Real Estate - Services | 7 | $76.8B | 35.0% | |
| Real Estate | 29 | $75.9B | 34.6% | |
| Real Estate Agents & Managers (For Others) | 10 | $44.4B | 20.2% | |
| Real Estate Operators (No Developers) & Lessors | 3 | $16.5B | 7.5% | |
| Land Subdividers & Developers (No Cemeteries) | 6 | $4.4B | 2.0% | |
| Opeators Of Nonresidential Buildings | 5 | $1000M | 0.5% | |
| Real Estate - Diversified | 2 | $723M | 0.3% |
Quality Distribution
0
1
2
3
4
5
6
7
8
9
Quality Score (0-9)
High Quality (7+)
2%
Median Piotroski F
4/9
Profitable Years
5 of 10
Dividends & Shareholder Returns
Paying Dividends
44%
Median Div Yield
3.2%
Median Buyback Yield
0.7%
Shareholder Yield
2.9%
Payout Ratio
52.4%
Div Growth (3Y)
6.3%
Div Growth (5Y)
5.0%
Strengths & Weaknesses
Strengths
- +[Valuation]Attractive valuations: current median P/E of 13.9x is 20.3% below the 5-year average, presenting potential value opportunity.
Weaknesses
- −[Financial Health]61.8% of companies fall in the Altman Z-Score distress zone (<1.8), indicating elevated bankruptcy risk within the sector.
- −[Leverage]Tight interest coverage at 2.9x, leaving limited cushion for debt servicing if earnings decline.
- −[Profitability]Below-average capital returns with a median ROIC of 5.2%, suggesting limited pricing power or capital-intensive operations.
- −[Quality]Only 1.6% of companies score 7+ on the quality checklist, reflecting structural challenges in achieving consistent returns across the sector.