RE/MAX Holdings

RMAX

Real Estate - Services · Real Estate

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Weak

Stability

Strong

Valuation

Data not available

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Winston Score History

The full picture

RE/MAX Holdings runs one of the largest real estate franchise networks in the world. It sells franchises to independent brokers and agents who use the RE/MAX brand to help people buy and sell homes. The company also owns the Motto Mortgage franchise brand, which lets brokers offer mortgage services under a separate network.

RE/MAX makes money by charging fees to its franchisees — things like continuing franchise fees, annual dues, and broker fees — rather than directly selling homes itself. It operates in over 110 countries, though most revenue comes from North America. The franchise model creates some stability because agents pay fees regardless of whether individual deals close, but the business is heavily tied to housing market activity. Rising interest rates and low home inventory have reduced transaction volumes in recent years, and a sustained recovery in housing turnover is the key factor that would meaningfully improve the company's financial results.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-5.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-187.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

20.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$112M cash & investments at current burn rate

Revenue declining

RE/MAX Holdings's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

58.4%

Premium pricing power — 58.4% gross margin

Profit after running costs

Operating Margin

18.9%

Healthy — 18.9% operating margin

Return on the money invested

ROCE

9.1%

Below par — 9.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-5.0%

Shrinking sales (-5.0% YoY)

Profit growth

EPS YoY

-183.1%

Earnings shrinking (-183.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

7.5%

Modest free cash flow (7.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

2.66x

Tight — interest eats into profit (2.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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