The Real Brokerage

REAX

Real Estate - Services · Real Estate

Price

$2.64

-0.11 (-4.00%)

Market Cap

$575.4M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

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

How the score breaks down

Quality

Weak

Growth

Strong

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+22.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 179.0M (2021) → 219.9M (2025)

Winston Score History

The full picture

The Real Brokerage Inc., together with its subsidiaries, operates as a technology-powered real estate brokerage company. It provides brokerage services for the real estate market through a network of agents. The company offers agents a mobile-focused tech platform to run its business, as well as business terms and wealth-building opportunities. It operates in 42 states in the United States, the District of Columbia, and Canada. The Real Brokerage Inc. is headquartered in Toronto, Canada.

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

+29.6% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-528.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$17M/ year

↑ Rising (+43% vs prior year)

0.9% of revenue

In line with sector average (1%)

R&D investment increasing — building for the future

Insider Activity

32.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$89M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

The Real Brokerage is growing revenue at 30% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

8.3%

Thin — 8.3% gross margin

Profit after running costs

Operating Margin

0.6%

Thin — 0.6% operating margin

Return on the money invested

ROCE

-4.5%

Weak — -4.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+38.4%

Fast-growing sales (+38.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

4.0%

Thin free cash flow (4.0%)

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

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

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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