RMRNasdaqServices-Management Consulting ServicesUS GAAP · USD

The RMR Group Inc

RMR Group Inc. is a U.S.-based holding company whose business is conducted primarily through The RMR Group LLC, a management services platform focused on real estate and real estate-related businesses. Through its subsidiary, RMR LLC provides business management, property management, and related advisory services to publicly traded REITs, private capital vehicles, and operating companies across the United States.

Kysy yhtiöstä
Liikevaihto700milj. USD
−22,0 %v/v
Liikevoitto (EBIT)41,8milj. USD
−7,1 %v/v
EBIT-marginaali6,0%
+1,0 %-yks.v/v
Nettotulos17,6milj. USD
−23,9 %v/v
Vapaa kassavirta75,7milj. USD
+31,7 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

02004006008001 000milj. USD2020: 590 milj. USD2020: EBIT 69 milj. USD20202021: 607 milj. USD2021: EBIT 72 milj. USD20212022: 833 milj. USD2022: EBIT 88 milj. USD20222023: 962 milj. USD2023: EBIT 114 milj. USD20232024: 898 milj. USD2024: EBIT 45 milj. USD20242025: 700 milj. USD2025: EBIT 42 milj. USD202570042
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Business management fees55 %

Fees earned for oversight, compliance, capital markets, and general management services.

Property management fees25 %

Fees for managing properties, operations, and tenant-related activities.

Construction supervision fees10 %

Fees tied to supervising development and construction activities at managed assets.

Reimbursable and other revenues10 %

Expense reimbursements and other service-related income from managed clients.

Tuotteet

Raportoitu · osuus liikevaihdosta
97,2%FY2025100 %
  • Management Service97,2 %
  • Investment Advisory Management and Administrative Service2,4 %
  • Management Service Incentive0,4 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

RMR’s customers are primarily real estate owners and operators that outsource management functions rather than build those capabilities in-house. Its client base includes managed equity REITs, private capital vehicles, senior living and hotel-related businesses, and other private real estate entities that need ongoing operating, compliance, and property-level support.

Managed Equity REITs

Public REIT clients that buy business management, compliance, and capital markets support.

Private Capital clients

Private funds and entities that buy property management, oversight, and construction supervision.

Operating companies

Businesses such as Sonesta that buy ongoing management and administrative services.

Senior living operators

AlerisLife-related senior housing operations that use RMR for management during transition periods.

Residential real estate platforms

Residential assets managed through MPC and subsidiaries that require property-level services.

Strategia

RMR’s strategy is to expand the range of services it provides to existing clients while adding new clients and new sources of capital. It also seeks to grow through additional business ventures and investments, including residential and private capital platforms that broaden its fee base beyond traditional REIT management.

Expand the client baseKeskipitkä aikaväli

Reduces dependence on a small number of management agreements.

Grow RMR Residential and private capital servicesKeskipitkä aikaväli

Creates additional fee streams tied to residential and private assets.

Expand service scope for existing clientsLyhyt aikaväli

Increases wallet share and embeds RMR more deeply in client operations.

Maantiede

RMR is headquartered in the United States and its business is tied to U.S. real estate markets. The company’s clients and managed assets are concentrated in the U.S., so its results are closely linked to domestic property cycles, regional real estate conditions, and U.S. capital markets.

Riskit

RMR’s revenues are concentrated in a limited number of management agreements, so client performance, contract terminations, or changes in fee bases can quickly affect results. Because its clients are tied to real estate cycles and interest-rate-sensitive property markets, weakness in occupancy, asset values, or financing conditions can reduce fee income and slow growth.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Client concentration1Fee base sensitivity2Real estate cycle exposure3Management agreement termination4Interest rate sensitivity5Related-party and governance complexity6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Client concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    Most revenue comes from a limited number of management relationships.

    Kohdistuu: Management agreements with REITs and private capital clients

  2. Fee base sensitivityVaikutus: KorkeaTodennäköisyys: Korkea

    Management fees are linked to revenues, assets, enterprise values, or rents.

    KohdistuuAlerisLifeSonestaPrivate entitiesREIT clients
  3. Real estate cycle exposureVaikutus: KorkeaTodennäköisyys: Korkea

    Client performance depends on U.S. property market conditions and occupancy trends.

    Kohdistuu: Commercial and residential real estate

  4. Management agreement terminationVaikutus: KorkeaTodennäköisyys: Korkea

    Loss of a contract would remove recurring fee revenue and related reimbursements.

    KohdistuuAlerisLifeSonestaOther managed entities
  5. Interest rate sensitivityVaikutus: KeskitasoTodennäköisyys: Korkea

    Higher rates can pressure financing, valuations, and client investment activity.

    Kohdistuu: Managed REITs and private capital clients

  6. Related-party and governance complexityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Control, ownership, and related-person transactions can create governance scrutiny.

    KohdistuuRMR LLCABP TrustAdam Portnoy relationships

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Business management, property management, and incentive fees are earned under different triggers.

Vaikutus: Can shift revenue between quarters and affect comparability

Consolidation assessment

RMR evaluates whether it controls managed entities and must consolidate them.

Vaikutus: Changes the scope of reported assets, liabilities, and revenue

Goodwill impairment

Goodwill is material and tested using valuation assumptions such as growth and discount rates.

Vaikutus: Could create non-cash charges if reporting unit values decline

Fair value estimates

Investments and earnout liabilities require valuation judgments.

Vaikutus: Can create volatility in non-operating gains and losses

Related-party transactions

Ownership and management relationships require careful disclosure and elimination entries.

Vaikutus: Affects consolidation, eliminations, and transparency

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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RLJ · Real Estate Investment Trusts

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Rithm Capital Corp.

RITM · Real Estate Investment Trusts

RPM International Inc

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RBB Bancorp

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Päivitetty: 24.9.2026