DOUG Douglas Elliman Inc.

Overview and Growth

In fiscal 2025, Douglas Elliman Inc. recorded $1.03B of revenue, net income of $15.22M, and an operating cash outflow of $13.88M. At $1.03B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 3.8% from $995.63M in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $0.17, adding a shareholder-level measure to the absolute income figures considered below. At period end, total assets were $444.41M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 2.32x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced $45.48M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 4.4%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $15.22M, after the operating, financing, tax, and other items recognized for the period. Net margin was 1.5%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $17.87M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 1.7%, adding a pre-tax profitability layer between revenue and net income. Income tax expense totaled $3.56M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 19.9%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 8.3%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 3.4%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

At period end, the $444.41M asset base was financed through $261.13M of liabilities and $183.28M of equity. At period end, current assets of $161.30M compared with current liabilities of $98.67M, defining the company’s short-term resource position. The current ratio was 1.63x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $115.51M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 117.1% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $0.00, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.0x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 0.0%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 58.8%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 26.0%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 10.0% lower than fiscal 2024 assets of $493.89M, measuring the company’s own balance-sheet change. Against $162.43M of equity in fiscal 2024, the current book-equity balance moved 12.8% and ended higher. The reported cash balance changed 14.9% from $135.66M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $13.88M, showing that operations absorbed cash during the period. The company spent $3.35M on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $17.23M cash deficit after capital spending for the period. Free-cash-flow margin was -1.7%, reflecting a cash deficit equal to 1.7% of revenue after capital spending. The free-cash-flow deficit equaled 3.9% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.