Douglas Elliman Inc.
DOUG NYSE Real Estate Agents & Managers (For Others) Financials FY2019–FY2025
Last close · Oct 23, 2026
$1.59
6.0%
Revenue
Total sales reported in the income statement.
$1.0B
3.8%
vs prior year
Operating margin
Operating income as a share of revenue.
4.4%
11.3 pts
Net income
Profit after all expenses, interest and tax.
$15.2M
Free cash flow
Cash from operations minus capital spending.
−$17.2M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
53.2%
163.3 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$136M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
5.5x
On $0.29 EPS (TTM)
What Douglas Elliman Inc. does
No business description yet.
- Legal name
- Douglas Elliman Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 16, 2026
- Accession · CIK
- 0001878897-26-000007
0001878897
Revenue and margins
Douglas Elliman Inc. had $1.0B of revenue in fiscal 2025, up 3.8% on the year before.
FY19
Revenue $784M
FY20
Revenue $774M
FY21
Revenue $1.4B
FY22
Revenue $1.2B
FY23
Revenue $956M
FY24
Revenue $996M
FY25
Revenue $1.0B
Q3 '23
Revenue $252M
Q4 '23
Revenue $214M
Q1 '24
Revenue $200M
Q2 '24
Revenue $286M
Q3 '24
Revenue $266M
Q4 '24
Revenue $243M
Q1 '25
Revenue $253M
Q2 '25
Revenue $271M
Q3 '25
Revenue $263M
Q4 '25
Revenue $245M
Q1 '26
Revenue $214M
Q2 '26
Revenue $283M
FY19
Gross —
Operating −0.4%
Net 1.1%
FCF −0.1%
FY20
Gross —
Operating −6.4%
Net −6.0%
FCF 3.3%
FY21
Gross —
Operating 7.5%
Net 7.3%
FCF 9.1%
FY22
Gross —
Operating −0.4%
Net −0.5%
FCF −2.0%
FY23
Gross —
Operating −6.7%
Net −4.5%
FCF −3.8%
FY24
Gross —
Operating −6.9%
Net −7.7%
FCF −3.2%
FY25
Gross —
Operating 4.4%
Net 1.5%
FCF −1.7%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating −3.5%
Net −1.9%
FCF −2.1%
Q4 '23
Gross —
Operating −11.0%
Net −6.9%
FCF −1.6%
Q1 '24
Gross —
Operating −20.7%
Net −20.7%
FCF −14.7%
Q2 '24
Gross —
Operating −1.3%
Net −0.6%
FCF 0.2%
Q3 '24
Gross —
Operating −2.8%
Net −10.2%
FCF 2.9%
Q4 '24
Gross —
Operating −6.7%
Net −2.5%
FCF −4.2%
Q1 '25
Gross —
Operating −2.1%
Net −2.4%
FCF −2.6%
Q2 '25
Gross —
Operating −2.0%
Net −8.4%
FCF −0.2%
Q3 '25
Gross —
Operating −4.1%
Net −9.4%
FCF 1.8%
Q4 '25
Gross —
Operating 27.3%
Net 27.9%
FCF −6.0%
Q1 '26
Gross —
Operating −8.2%
Net −7.6%
FCF −9.1%
Q2 '26
Gross —
Operating −1.2%
Net −1.0%
FCF 3.9%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 7.5% a year. Loss periods are shown in red.
FY19
Net income $8.5M
FY20
Net income −$46.4M
FY21
Net income $98.8M
FY22
Net income −$5.6M
FY23
Net income −$42.6M
FY24
Net income −$76.3M
FY25
Net income $15.2M
Q3 '23
Net income −$4.9M
Q4 '23
Net income −$14.8M
Q1 '24
Net income −$41.5M
Q2 '24
Net income −$1.7M
Q3 '24
Net income −$27.2M
Q4 '24
Net income −$6.0M
Q1 '25
Net income −$6.0M
Q2 '25
Net income −$22.7M
Q3 '25
Net income −$24.7M
Q4 '25
Net income $68.6M
Q1 '26
Net income −$16.3M
Q2 '26
Net income −$2.7M
FY19
Diluted EPS $0.11
FY20
Diluted EPS −$0.60
FY21
Diluted EPS $1.21
FY22
Diluted EPS −$0.08
FY23
Diluted EPS −$0.52
FY24
Diluted EPS −$0.91
FY25
Diluted EPS $0.17
Q3 '23
Diluted EPS −$0.06
Q4 '23
Diluted EPS −$0.18
Q1 '24
Diluted EPS −$0.50
Q2 '24
Diluted EPS −$0.02
Q3 '24
Diluted EPS −$0.33
Q4 '24
Diluted EPS −$0.06
Q1 '25
Diluted EPS −$0.07
Q2 '25
Diluted EPS −$0.27
Q3 '25
Diluted EPS −$0.29
Q4 '25
Diluted EPS $0.80
Q1 '26
Diluted EPS −$0.19
Q2 '26
Diluted EPS −$0.03
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 4.1%
Return on assets 1.7%
FY20
Return on capital −41.2%
Return on equity −25.2%
Return on assets −9.8%
FY21
Return on capital 123.4%
Return on equity 44.6%
Return on assets 18.8%
FY22
Return on capital −2.8%
Return on equity −2.0%
Return on assets −1.0%
FY23
Return on capital −44.9%
Return on equity −16.9%
Return on assets −8.2%
FY24
Return on capital −110.1%
Return on equity −38.6%
Return on assets −15.5%
FY25
Return on capital 53.2%
Return on equity 8.8%
Return on assets 3.2%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$17.2M in fiscal 2025, −1.7% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow −$0.5M
FY20
Free cash flow $25.7M
FY21
Free cash flow $124M
FY22
Free cash flow −$23.3M
FY23
Free cash flow −$36.6M
FY24
Free cash flow −$31.5M
FY25
Free cash flow −$17.2M
Q3 '23
Free cash flow −$5.4M
Q4 '23
Free cash flow −$3.4M
Q1 '24
Free cash flow −$29.4M
Q2 '24
Free cash flow $0.4M
Q3 '24
Free cash flow $7.7M
Q4 '24
Free cash flow −$10.2M
Q1 '25
Free cash flow −$6.7M
Q2 '25
Free cash flow −$0.6M
Q3 '25
Free cash flow $4.7M
Q4 '25
Free cash flow −$14.7M
Q1 '26
Free cash flow −$19.6M
Q2 '26
Free cash flow $10.9M
FY19
Cash from operations $7.6M
Capital spending $8.1M
FY20
Cash from operations $31.9M
Capital spending $6.1M
FY21
Cash from operations $128M
Capital spending $4.1M
FY22
Cash from operations −$14.7M
Capital spending $8.5M
FY23
Cash from operations −$30.4M
Capital spending $6.1M
FY24
Cash from operations −$26.0M
Capital spending $5.5M
FY25
Cash from operations −$13.9M
Capital spending $3.4M
Cash from operations
Capital spending
Q3 '23
Cash from operations −$4.6M
Capital spending $0.8M
Q4 '23
Cash from operations −$2.6M
Capital spending $0.8M
Q1 '24
Cash from operations −$27.3M
Capital spending $2.1M
Q2 '24
Cash from operations $1.3M
Capital spending $0.9M
Q3 '24
Cash from operations $9.0M
Capital spending $1.3M
Q4 '24
Cash from operations −$9.0M
Capital spending $1.3M
Q1 '25
Cash from operations −$5.6M
Capital spending $1.0M
Q2 '25
Cash from operations $0.6M
Capital spending $1.2M
Q3 '25
Cash from operations $5.5M
Capital spending $0.8M
Q4 '25
Cash from operations −$14.4M
Capital spending $0.3M
Q1 '26
Cash from operations −$19.3M
Capital spending $0.3M
Q2 '26
Cash from operations $11.6M
Capital spending $0.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
Douglas Elliman Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 1.3%.
FY19
Dividends —
Buybacks —
FY20
Dividends $0.0M
Buybacks —
FY21
Dividends $0.0M
Buybacks —
FY22
Dividends $16.3M
Buybacks —
FY23
Dividends $4.2M
Buybacks —
FY24
Dividends $0.0M
Buybacks —
FY25
Dividends $0.0M
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends $0.0M
Buybacks —
Q4 '23
Dividends $0.0M
Buybacks —
Q1 '24
Dividends $0.0M
Buybacks —
Q2 '24
Dividends $0.0M
Buybacks —
Q3 '24
Dividends $0.0M
Buybacks —
Q4 '24
Dividends $0.0M
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.08B
FY20
Diluted shares 0.08B
FY21
Diluted shares 0.08B
FY22
Diluted shares 0.08B
FY23
Diluted shares 0.08B
FY24
Diluted shares 0.08B
FY25
Diluted shares 0.08B
Balance sheet
Cash, debt and the ratios that show how comfortably Douglas Elliman Inc. can carry it.
FY19
Cash $71.5M
Debt —
FY20
Cash $94.4M
Debt $25.4M
FY21
Cash $212M
Debt $12.7M
FY22
Cash $164M
Debt $0.0M
FY23
Cash $120M
Debt $0.0M
FY24
Cash $145M
Debt $32.7M
FY25
Cash $116M
Debt $0.0M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $212M | $164M | $120M | $145M | $116M |
| Debt incl. finance leases | $12.7M | $0.0M | $0.0M | $32.7M | $0.0M |
| Net debt / EBITDA | −1.8x | −47.2x | — | — | −2.1x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.2x | 0.0x |
| Interest coverage | — | −30.7x | −2,303.5x | −23.4x | 9.0x |
| Current ratio | 2.1x | 2.5x | 1.9x | 2.1x | 1.6x |
| Quick ratio | 2.1x | 2.5x | 1.9x | 2.1x | 1.6x |
| Total assets | $595M | $550M | $493M | $494M | $444M |
| Total liabilities | $313M | $280M | $259M | $331M | $261M |
| Shareholders' equity | $280M | $269M | $233M | $162M | $184M |
| Net debt (− = net cash) | −$199M | −$164M | −$120M | −$113M | −$116M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✕ |
| Debt fell relative to assets | — | — | ✓ | ✓ | ✕ | ✕ | ✓ |
| Current ratio rose | — | — | ✓ | ✓ | ✕ | ✓ | ✕ |
| Share count didn't rise | — | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ |
| F-score | — / 3 | — / 6 | 7 / 8 | 2 / 8 | 1 / 8 | 3 / 8 | 4 / 8 |
| Accruals ratio | 0.2% | −16.6% | −5.5% | 1.6% | −2.3% | −10.2% | 6.2% |
| Altman Z'' | — | — | 3.73 | 2.53 | 0.87 | 0.14 | 1.55 |
7 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $784M | $774M | $1.4B | $1.2B | $956M | $996M | $1.0B |
| Operating income | −$3.5M | −$49.3M | $102M | −$4.5M | −$64.5M | −$68.8M | $45.5M |
| Interest expense | — | — | — | $0.1M | $0.0M | $2.9M | $5.1M |
| Pretax income | $8.8M | −$46.3M | $101M | $0.1M | −$58.2M | −$75.9M | $17.9M |
| Income tax | $0.4M | $0.0M | $2.1M | $6.5M | −$15.1M | $1.1M | $3.6M |
| Net income | $8.5M | −$46.4M | $98.8M | −$5.6M | −$42.6M | −$76.3M | $15.2M |
| Net income to common | $8.5M | −$46.4M | $98.8M | −$6.3M | −$42.9M | −$76.3M | $14.5M |
| Diluted EPS | $0.11 | −$0.60 | $1.21 | −$0.08 | −$0.52 | −$0.91 | $0.17 |
| Diluted shares | 0.08B | 0.08B | 0.08B | 0.08B | 0.08B | 0.08B | 0.08B |
| Cash flow | |||||||
| Cash from operations | $7.6M | $31.9M | $128M | −$14.7M | −$30.4M | −$26.0M | −$13.9M |
| Capital expenditure | $8.1M | $6.1M | $4.1M | $8.5M | $6.1M | $5.5M | $3.4M |
| Free cash flow | −$0.5M | $25.7M | $124M | −$23.3M | −$36.6M | −$31.5M | −$17.2M |
| Depreciation and amortization | $8.6M | $8.5M | $8.6M | $8.0M | $8.0M | $7.7M | $8.4M |
| Stock-based compensation | — | $0.0M | $0.0M | $11.1M | $13.1M | $6.6M | $8.6M |
| Dividends paid | — | $0.0M | $0.0M | $16.3M | $4.2M | $0.0M | $0.0M |
| Dividends and buybacks | — | $0.0M | $0.0M | $16.3M | $4.2M | $0.0M | $0.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $71.5M | $94.4M | $212M | $164M | $120M | $145M | $116M |
| Total debt | — | $25.4M | $12.7M | $0.0M | $0.0M | $32.7M | $0.0M |
| Current assets | — | $148M | $281M | $225M | $181M | $196M | $161M |
| Current liabilities | — | $99.6M | $132M | $90.0M | $97.2M | $92.2M | $98.7M |
| Property and equipment, net | — | $42.7M | $39.4M | $41.7M | $39.7M | $37.7M | $30.2M |
| Goodwill | — | $31.8M | $32.6M | $32.2M | $32.2M | $32.2M | $32.2M |
| Intangible assets | — | $68.3M | $74.4M | $73.7M | $73.0M | $72.3M | $71.7M |
| Total assets | $489M | $454M | $595M | $550M | $493M | $494M | $444M |
| Total liabilities | — | $290M | $313M | $280M | $259M | $331M | $261M |
| Preferred stock | — | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $204M | $164M | $280M | $269M | $233M | $162M | $184M |
| Margins | |||||||
| Operating margin | −0.4% | −6.4% | 7.5% | −0.4% | −6.7% | −6.9% | 4.4% |
| EBITDA margin | 0.7% | −5.3% | 8.2% | 0.3% | −5.9% | −6.1% | 5.2% |
| Net margin | 1.1% | −6.0% | 7.3% | −0.5% | −4.5% | −7.7% | 1.5% |
| FCF margin | −0.1% | 3.3% | 9.1% | −2.0% | −3.8% | −3.2% | −1.7% |
| Returns | |||||||
| Return on capital | — | −41.2% | 123.4% | −2.8% | −44.9% | −110.1% | 53.2% |
| Return on capital employed | — | −13.9% | 22.1% | −1.0% | −16.3% | −17.1% | 13.2% |
| Return on equity | 4.1% | −25.2% | 44.6% | −2.0% | −16.9% | −38.6% | 8.8% |
| Return on assets | 1.7% | −9.8% | 18.8% | −1.0% | −8.2% | −15.5% | 3.2% |
| Return on tangible equity | 4.1% | −73.0% | 57.1% | −3.9% | −33.5% | −132.4% | 18.1% |
| Growth | |||||||
| Revenue growth | — | −1.3% | 74.8% | −14.8% | −17.1% | 4.2% | 3.8% |
| Net income growth | — | −648.2% | — | −105.7% | — | — | — |
| EPS growth | — | −645.5% | — | −106.6% | — | — | — |
| FCF growth | — | — | 380.7% | −118.8% | — | — | — |
| Share count change | — | 0.0% | 5.0% | 0.0% | 0.8% | 1.5% | 1.3% |
| Financial health | |||||||
| Net debt / EBITDA | — | — | −1.8x | −47.2x | — | — | −2.1x |
| Debt / equity | — | 0.2x | 0.0x | 0.0x | 0.0x | 0.2x | 0.0x |
| Interest coverage | — | — | — | −30.7x | −2,303.5x | −23.4x | 9.0x |
| Current ratio | — | 1.5x | 2.1x | 2.5x | 1.9x | 2.1x | 1.6x |
| Quick ratio | — | 1.5x | 2.1x | 2.5x | 1.9x | 2.1x | 1.6x |
| Capital allocation | |||||||
| Capex / revenue | 1.0% | 0.8% | 0.3% | 0.7% | 0.6% | 0.6% | 0.3% |
| Stock comp / revenue | — | 0.0% | 0.0% | 1.0% | 1.4% | 0.7% | 0.8% |
| Payouts / FCF | — | 0.0% | 0.0% | — | — | — | — |
| Quality scores | |||||||
| Piotroski F-score | — | — | 7.0 | 2.0 | 1.0 | 3.0 | 4.0 |
| Altman Z'' | — | — | 3.7 | 2.5 | 0.9 | 0.1 | 1.6 |
| Accruals ratio | 0.2% | −16.6% | −5.5% | 1.6% | −2.3% | −10.2% | 6.2% |
Source: SEC EDGAR XBRL filings (CIK 0001878897). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.