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Douglas Elliman Inc. is a holding company that, through its subsidiaries, is engaged in the real estate services business. Douglas Elliman owns Douglas Elliman Realty, LLC, one of the largest residential brokerage companies in the New York metropolitan area, which includes New York City, Long Island, the Hamptons, Westchester, Connecticut and New Jersey, and also conducts operations in Florida,…
Operating margin is thin at 4.42%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.9%, steady but not accelerating.
Negative free cash flow of -$17M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$990M
▲ +3.9% YoY
Net Income (TTM)
$5M
▲ +119.9% YoY
Op. Margin
3.37%
▲ +11.4pp YoY
ROIC
10.83%
▲ +29.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$30M
▲ +45.3% YoY
Op. Cash Flow (TTM)
-$28M
▲ +46.5% YoY
Net Debt
$6M
Cash & Equiv.
$96M
5Y CAGR: +5.9%
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