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what it is
Douglas Elliman helps people buy and sell high-end homes, then sells related title, escrow, mortgage, and development marketing services.
how it gets paid
Last year Douglas Elliman made $996M in revenue. Residential brokerage was the main engine at $747.0M, or 75% of sales.
what just happened
The latest quarter printed $788M in revenue, but earnings still landed at -$0.63 a share.
At a glance
C+ balance sheet — struggling to keep the lights on
35.3% return on capital — every dollar works hard here
-$0.53 fy2024 eps est
$996M fy2024 rev est
0.3% operating margin
xvary composite: 29/100 — weak
What they do
Douglas Elliman helps people buy and sell high-end homes, then sells related title, escrow, mortgage, and development marketing services.
Douglas Elliman matters where luxury home deals still run on reputation and agent relationships. It has 783 employees and a dominant presence in the New York metro area plus luxury markets like South Florida and California. When your client wants a $10 million listing marketed fast, the brand and local network can still decide who gets the call.
How they make money
$996M
annual revenue
Residential brokerage
$747.0M
New development marketing and sales
$119.5M
Title and escrow services
$69.7M
Mortgage origination
$39.8M
PropTech and other investments
$19.9M
The products that matter
real estate sales and commissions
Luxury Residential Brokerage
core business inside $996M revenue
this is the main revenue engine, but the company still posted a $24.9M operating loss. you need better cost control before this becomes an equity story instead of a housing-volume story.
brand-led
marketing and selling new builds
New Development Sales
supports commission flow
new development gives the brokerage another source of listings, but it still feeds a company running at a 0.3% operating margin. scale without margin is motion, not progress.
pipeline support
title, settlement, and other fees
Ancillary Services
extra fees matter more when cash is finite
these services add fee income around the transaction. with $126.5M in cash and ongoing losses, each extra dollar matters more than it would at a healthy brokerage.
margin support
Key numbers
0.3%
operating margin
Operating margin → profit left after running the business → so what: on $996M of revenue, Douglas Elliman kept only about $3M before interest and taxes.
$121M
long-term debt
Debt → money the company owes → so what: the balance sheet carries obligations equal to about 80% of its $151M market value.
$0.53
2024 EPS est.
EPS → profit per share → so what: the company is still losing money after posting -$0.52 in 2023 and an estimated -$0.53 in 2024.
35.3%
return on capital
Return on capital → profit generated from money tied up in the business → so what: the reported figure looks strong against a 0.3% operating margin, so you should treat it carefully in a volatile year.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $121M (45% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for DOUG right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The latest quarter printed $788M in revenue, but earnings still landed at -$0.63 a share.
Revenue jumped versus the prior year, but the business still did not convert that volume into profit. That is the whole Douglas Elliman problem in one line: big sales, thin economics.
$249M
revenue
$0.63
eps
0.3%
operating margin
the number that mattered
The number that mattered was 0.3% operating margin, because high revenue does not help much when almost none of it sticks.
source: company earnings report, 2026
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What could go wrong
the #1 risk is persistent operating losses at a luxury brokerage with no moat.
high
Persistent operating losses
$996M in revenue still ended in a $24.9M operating loss. That is not a tiny miss. It says the cost base is still too heavy for the revenue base you have.
If that pattern holds, the turnaround thesis stops being a timing question and becomes a business-quality question.
med
Cash cushion erosion
$126.5M in cash sounds comforting until you line it up next to repeated losses. The company has time, but time is what a weak business spends.
If cash keeps falling while profit stays negative, you start talking about capital raises instead of recovery.
med
$121M of long-term debt in a low-margin business
Long-term debt equals 45% of capital while operating margin sits at 0.3%. That is not a balance sheet built for a long stretch of weak execution.
Low margins and real debt are a bad pairing. One gives you no buffer. The other demands one.
$24.9M of operating loss against $126.5M of cash and $121M of long-term debt leaves you with some runway, but not much room for a slow fix.
source: institutional data · regulatory filings · risk analysis
Pay attention to
profit
operating loss trend
Start with the $24.9M operating loss. If that number does not improve, none of the brand talk matters.
cash
cash versus losses
$126.5M in cash is your cushion. Watch whether that balance shrinks faster than the turnaround narrative improves.
calendar
next earnings update
You want the next report to show more than revenue growth. The right question is whether costs finally move in the right direction.
setup
price behavior versus fundamentals
A 52-week range of $1–$3 and a 5 / 100 stability score tell you this stock can move faster than the business does. Keep the chart in its place.
Analyst rankings
risk profile
high risk
risk rank 5 — significant risk of large drawdowns.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for DOUG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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