RE/MAX Holdings Valuation

Is RMAX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Discounted Cash Flow
Simply Wall St
US$29.45
Fair Value
67.2% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: RMAX ($9.65) is trading below our estimate of fair value ($29.45)

Significantly Below Fair Value: RMAX is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for RMAX?

Key metric: As RMAX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for RMAX. This is calculated by dividing RMAX's market cap by their current revenue.
What is RMAX's PS Ratio?
PS Ratio0.6x
SalesUS$311.82m
Market CapUS$314.95m

Price to Sales Ratio vs Peers

How does RMAX's PS Ratio compare to its peers?

The above table shows the PS ratio for RMAX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.3x
HOUS Anywhere Real Estate
0.06x6.0%US$346.0m
DOUG Douglas Elliman
0.1x14.5%US$140.9m
RDFN Redfin
0.9x11.3%US$919.9m
OPEN Opendoor Technologies
0.2x15.2%US$1.1b
RMAX RE/MAX Holdings
0.6x1.5%US$314.9m

Price-To-Sales vs Peers: RMAX is expensive based on its Price-To-Sales Ratio (0.6x) compared to the peer average (0.3x).


Price to Sales Ratio vs Industry

How does RMAX's PS Ratio compare vs other companies in the US Real Estate Industry?

33 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.8x11.4%
RMAX RE/MAX Holdings
0.6x1.5%US$314.95m
JLL Jones Lang LaSalle
0.5x6.1%US$11.76b
NMRK Newmark Group
0.8x7.6%US$3.01b
RMAX 0.6xIndustry Avg. 1.8xNo. of Companies33PS03.26.49.612.816+
33 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.8x35.9%
RMAX RE/MAX Holdings
0.6x113.8%US$314.95m
No more companies

Price-To-Sales vs Industry: RMAX is good value based on its Price-To-Sales Ratio (0.6x) compared to the US Real Estate industry average (1.8x).


Price to Sales Ratio vs Fair Ratio

What is RMAX'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.

RMAX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: RMAX is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).


Analyst Price Targets

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

The above table shows the analyst RMAX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$10.02
US$9.75
-2.7%
14.7%US$11.50US$7.50n/a4
Jan ’26US$10.67
US$9.75
-8.6%
14.7%US$11.50US$7.50n/a4
Dec ’25US$13.16
US$9.75
-25.9%
14.7%US$11.50US$7.50n/a4
Nov ’25US$11.35
US$9.75
-14.1%
14.7%US$11.50US$7.50n/a4
Oct ’25US$12.49
US$9.13
-26.9%
14.7%US$10.50US$7.00n/a4
Sep ’25US$11.32
US$9.13
-19.4%
14.7%US$10.50US$7.00n/a4
Aug ’25US$9.19
US$8.75
-4.8%
12.5%US$10.00US$7.00n/a4
Jul ’25US$8.12
US$9.00
+10.8%
13.6%US$10.00US$7.00n/a4
Jun ’25US$8.09
US$9.00
+11.2%
13.6%US$10.00US$7.00n/a4
May ’25US$7.20
US$9.25
+28.5%
14.0%US$10.00US$7.00n/a4
Apr ’25US$8.18
US$10.75
+31.4%
17.9%US$14.00US$9.00n/a4
Mar ’25US$8.66
US$10.75
+24.1%
17.9%US$14.00US$9.00n/a4
Feb ’25US$10.98
US$11.33
+3.2%
18.1%US$14.00US$9.00n/a3
Jan ’25US$13.33
US$11.33
-15.0%
18.1%US$14.00US$9.00US$10.673
Dec ’24US$9.67
US$12.00
+24.1%
24.5%US$16.00US$9.00US$13.163
Nov ’24US$11.34
US$17.83
+57.3%
8.0%US$19.50US$16.00US$11.353
Oct ’24US$12.94
US$17.83
+37.8%
8.0%US$19.50US$16.00US$12.493
Sep ’24US$16.40
US$19.38
+18.1%
5.6%US$21.00US$18.00US$11.324
Aug ’24US$19.54
US$19.63
+0.4%
4.2%US$21.00US$19.00US$9.194
Jul ’24US$19.26
US$20.75
+7.7%
9.9%US$24.00US$19.00US$8.124
Jun ’24US$18.40
US$20.75
+12.8%
9.9%US$24.00US$19.00US$8.094
May ’24US$19.31
US$21.00
+8.8%
8.9%US$24.00US$19.00US$7.204
Apr ’24US$18.76
US$21.00
+11.9%
8.9%US$24.00US$19.00US$8.184
Mar ’24US$18.58
US$22.00
+18.4%
7.2%US$24.00US$20.00US$8.664
Feb ’24US$23.22
US$24.00
+3.4%
5.1%US$26.00US$23.00US$10.984
Jan ’24US$18.64
US$24.40
+30.9%
5.6%US$26.00US$23.00US$13.335
Analyst Price Target
Consensus Narrative from 4 Analysts
US$9.75
Fair Value
1.0% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/10 19:03
End of Day Share Price 2025/01/08 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

RE/MAX Holdings, Inc. is covered by 15 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Justin AgesBerenberg
David Ridley-LaneBofA Global Research
Bradley BerningCraig-Hallum Capital Group LLC