How does 2RM's PS Ratio compare to its peers?

2RM is good value based on its Price-To-Sales Ratio (0.8x) compared to the peer average (2.4x).

How does 2RM's PS Ratio compare vs other companies in the DE Real Estate Industry?

2RM is good value based on its Price-To-Sales Ratio (0.8x) compared to the German Real Estate industry average (3.7x).

What is 2RM's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2RM is good value based on its Price-To-Sales Ratio (0.8x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).

What is the Fair Price of 2RM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2RM (€12.5) is trading below our estimate of [[fair value]] (€26.55)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is lower than the current share price.

RE/MAX Holdings (DB:2RM) - Stock Price, News & Analysis

2RM Stock Overview

Operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. More details

2RM fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	3/6
Past Performance	0/6
Financial Health	0/6
Dividends	0/6

Rewards

Trading at 52.9% below our estimate of its fair value

Earnings are forecast to grow 113.81% per year

Trading at good value compared to peers and industry

Risk Analysis

Interest payments are not well covered by earnings

Negative shareholders equity

Volatile share price over the past 3 months compared to the German market

RE/MAX Holdings, Inc. Competitors

Deutsche Grundstücksauktionen

XTRA:DGR

€14.0m

VIB Vermögen

XTRA:VIH1

€331.2m

ACCENTRO Real Estate

XTRA:A4Y

€10.7m

Instone Real Estate Group

XTRA:INS

€365.6m

Price History & Performance

Summary of all time highs, changes and price drops for RE/MAX Holdings
Historical stock prices
Current Share Price	US$12.50
52 Week High	US$12.50
52 Week Low	US$6.55
Beta	1.36
11 Month Change	13.64%
3 Month Change	14.68%
1 Year Change	51.52%
33 Year Change	-47.92%
5 Year Change	-64.08%
Change since IPO	-40.68%

Recent updates

Shareholder Returns

	2RM	DE Real Estate	DE Market
7D	20.2%	4.2%	0.8%
1Y	51.5%	11.3%	9.1%

Return vs Industry: 2RM exceeded the German Real Estate industry which returned 9.7% over the past year.

Return vs Market: 2RM exceeded the German Market which returned 8.5% over the past year.

Price Volatility

Is 2RM's price volatile compared to industry and market?
2RM volatility
2RM Average Weekly Movement	8.8%
Real Estate Industry Average Movement	5.8%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	10.8%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: 2RM's share price has been volatile over the past 3 months compared to the German market.

Volatility Over Time: 2RM's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

Founded	Employees	CEO	Website
1973	544	W. Carlson	www.remaxholdings.com

RE/MAX Holdings, Inc. operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.

RE/MAX Holdings, Inc. Fundamentals Summary

How do RE/MAX Holdings's earnings and revenue compare to its market cap?
2RM fundamental statistics
Market cap	€237.89m
Earnings (TTM)	-€9.14m
Revenue (TTM)	€297.10m

0.8x

P/S Ratio

-27.6x

P/E Ratio

Is 2RM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
2RM income statement (TTM)
Revenue	US$311.82m
Cost of Revenue	US$80.92m
Gross Profit	US$230.90m
Other Expenses	US$240.49m
Earnings	-US$9.59m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	-0.51
Gross Margin	74.05%
Net Profit Margin	-3.08%
Debt/Equity Ratio	-715.3%

How did 2RM perform over the long term?

See historical performance and comparison

2RM Stock Overview

Rewards

Risk Analysis

RE/MAX Holdings, Inc. Competitors

XTRA:DGR

€14.0m

XTRA:VIH1

€331.2m

XTRA:A4Y

€10.7m

XTRA:INS

€365.6m

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings released: EPS: US$0.051 (vs US$3.28 loss in 3Q 2023)

RE/MAX Holdings, Inc. Updates Earnings Guidance for the Full Year 2024

New minor risk - Shareholder dilution

RE/MAX Holdings, Inc. to Report Q3, 2024 Results on Oct 31, 2024

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

Recent updates

Third quarter 2024 earnings released: EPS: US$0.051 (vs US$3.28 loss in 3Q 2023)

RE/MAX Holdings, Inc. Updates Earnings Guidance for the Full Year 2024

New minor risk - Shareholder dilution

RE/MAX Holdings, Inc. to Report Q3, 2024 Results on Oct 31, 2024

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

Second quarter 2024 earnings released: EPS: US$0.20 (vs US$0.11 in 2Q 2023)

RE/MAX Holdings, Inc. Provides Financial Guidance for the Third Quarter of 2024 and Updates Financial Guidance for the Full Year 2024

New minor risk - Shareholder dilution

RE/MAX Holdings, Inc. to Report Q2, 2024 Results on Aug 09, 2024

RE/MAX Holdings, Inc.(NYSE:RMAX) dropped from Russell 2000 Value-Defensive Index

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

First quarter 2024 earnings released: US$0.18 loss per share (vs US$0.037 loss in 1Q 2023)

RE/MAX Holdings, Inc. Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal Year 2024

RE/MAX Holdings, Inc., Annual General Meeting, May 23, 2024

New minor risk - Shareholder dilution

RE/MAX Holdings, Inc. to Report Q1, 2024 Results on May 02, 2024

Full year 2023 earnings released: US$3.81 loss per share (vs US$0.33 profit in FY 2022)

RE/MAX Holdings, Inc. Reports Impairment Results for the Fourth Quarter Ended December 31, 2023

RE/MAX Holdings, Inc. to Report Q4, 2023 Results on Feb 22, 2024

High number of new directors

RE/MAX Holdings, Inc Announces Executive Changes, Effective from November 13, 2023

RE/MAX Holdings, Inc. Revises Earnings Guidance for the Year 2023

RE/MAX Holdings, Inc. to Report Q3, 2023 Results on Nov 02, 2023

RE/MAX Holdings, Inc. Provides Earnings Guidance for the Full Year 2023

RE/MAX Holdings, Inc. Appoints Leah Jenkins as Principal Accounting Officer

RE/MAX Holdings, Inc. Announces the Reduction of Workforce

New major risk - Dividend sustainability

Second quarter 2023 earnings released: EPS: US$0.11 (vs US$0.31 in 2Q 2022)

Re/Max Holdings, Inc. Provides Earnings Guidance for the Third Quarter of 2023

RE/MAX Holdings, Inc. Declares Quarterly Cash Dividend on Class A Common Stock, Payable on August 29, 2023

RE/MAX Holdings, Inc. to Report Q2, 2023 Results on Aug 02, 2023

RE/MAX Holdings, Inc. Announces Retirement of Gail Liniger Retired from the Board

Upcoming dividend of US$0.23 per share at 4.9% yield

RE/MAX Holdings, Inc. Provides Earnings Guidance for the Second Quarter and Full Year of 2023

First quarter 2023 earnings released: US$0.037 loss per share (vs US$0.077 profit in 1Q 2022)

RE/MAX Holdings, Inc. Declares Quarterly Cash Dividend, Payable on May 31, 2023

Upcoming dividend of US$0.23 per share at 4.9% yield

Investor sentiment deteriorates as stock falls 18%

RE/MAX Holdings, Inc. Reports Impairment Results for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings released: EPS: US$0.26 (vs US$0.84 loss in FY 2021)

RE/MAX Holdings, Inc. Declares Quarterly Dividend on Class A Common Stock, Payable on March 22, 2023

RE/MAX Holdings, Inc. to Report Q4, 2022 Results on Feb 16, 2023

RE/MAX Holdings, Inc. Announces Board Changes

Independent Director recently sold €112k worth of stock

Upcoming dividend of US$0.23 per share

Third quarter 2022 earnings released: EPS: US$0.008 (vs US$1.34 loss in 3Q 2021)

RE/MAX Holdings, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2022

RE/MAX Holdings, Inc. Announces Quarterly Dividend, Payable on November 30, 2022

RE/MAX Holdings, Inc. to Report Q3, 2022 Results on Nov 02, 2022

Re/Max Holdings, Inc. Appoints Grady Ligon as Chief Information Officer

RE/MAX Holdings, Inc. Announces Retirement of Joe DeSplinter as Lead Independent Director

Re/Max Holdings, Inc. Appoints Susie Winders as General Counsel and Chief Compliance Officer

Second quarter 2022 earnings released

RE/MAX Holdings, Inc. Revises Earnings Guidance for the Year 2022

RE/MAX Holdings, Inc. Announces Quarterly Dividend, Payable on August 30, 2022

RE/MAX Holdings, Inc. to Report Q2, 2022 Results on Aug 04, 2022