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Douglas Elliman Inc.
(NYSE:DOUG)
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Rating:51Neutral
Price Target:
$2.00
▲(6.38% Upside)
Action:Reiterated
Date:08/11/26
The score is held back primarily by weak financial quality—especially persistently negative operating/free cash flow and pressured operating profitability—despite a rebound in net income and a steadier balance sheet profile. Valuation is supportive (low P/E), while technical signals are only mildly positive and still below the long-term trend. The latest earnings call adds some upside via improving quarterly trends, strong liquidity commentary, and long-dated pipeline/cost-savings initiatives, but ongoing year-to-date losses and execution risk keep the overall score near the low-middle of the range.
Positive Factors
Core Revenue Rebound
The core brokerage business returned to year-over-year growth in the second quarter after excluding a disposed operation. Sustained revenue improvement would strengthen operating leverage, support agent investment, and indicate healthier transaction activity across Douglas Elliman’s markets.
Negative Factors
Persistent Cash Burn
Persistent negative operating and free cash flow shows that reported earnings are not consistently converting into liquidity. Continued cash burn could reduce financial flexibility, constrain investment capacity, and make the company more reliant on its balance sheet if housing activity weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Core Revenue Rebound
The core brokerage business returned to year-over-year growth in the second quarter after excluding a disposed operation. Sustained revenue improvement would strengthen operating leverage, support agent investment, and indicate healthier transaction activity across Douglas Elliman’s markets.
Read all positive factors
Douglas Elliman Inc. Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across regions (for example New York, Florida, California and other markets) to show where the company earns its money and which local markets drive results. Geographic concentration in luxury or single metros raises risk from local downturns, regulation, or market-specific slowdowns, while a more diversified footprint suggests broader growth opportunities and smoother performance through cycles. For investors, regional mix reveals where margins, market share, and future expansion or cost focus are likely to matter most.
Breaks down revenue across regions (for example New York, Florida, California and other markets) to show where the company earns its money and which local markets drive results. Geographic concentration in luxury or single metros raises risk from local downturns, regulation, or market-specific slowdowns, while a more diversified footprint suggests broader growth opportunities and smoother performance through cycles. For investors, regional mix reveals where margins, market share, and future expansion or cost focus are likely to matter most.
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The Fly
The FlyDouglas Elliman Inc. (DOUG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$161.79M
Dividend Yield6.66%
Average Volume (3M)365.82K
Price to Earnings (P/E)6.7
Beta (1Y)1.12
Revenue Growth-2.75%
EPS GrowthN/A
CountryUS
Employees580
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.26
Shares Outstanding90,890,470
10 Day Avg. Volume365,236
30 Day Avg. Volume365,823
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)1.15
Price to Sales (P/S)0.21
P/FCF Ratio-12.31
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Douglas Elliman Inc. Business Overview & Revenue Model
Company Description
Douglas Elliman Inc. (NYSE: DOUG) is an American firm specializing in real estate services and strategic investments in property technology. Its operations are segmented into two primary areas: Real Estate Brokerage and Corporate & Other. The comp...
How the Company Makes Money
The company primarily makes money by earning commissions and fees from residential real estate brokerage transactions. When a home is sold, Douglas Elliman (through its brokerage operations) receives a brokerage commission that is typically paid a...
Douglas Elliman Inc. Earnings Call Summary
Earnings Call Date:Aug 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call highlights a clear inflection in momentum: strong near-term cash receipt growth, Q2 revenue expansion (excluding disposed operations), significant improvement in Q2 profitability metrics, a robust cash balance and strategic initiatives (AI transformation, Elius, international expansion and Elliman Capital) that broaden future revenue opportunities. Offsetting these positives are a year-to-date revenue decline versus an unusually strong 2025 comparable, materially worse adjusted EBITDA and adjusted net losses through six months, and continued GAAP net losses. The company emphasizes transformation-funded growth from a position of financial strength but faces execution and timing risk on new initiatives.Positive Updates
Q2 Revenue Growth (Excluding Disposed Business)
Second quarter 2026 revenues were $283.4M, an 8.6% increase year-over-year excluding the property management business (Q2 2025 comparable of $260.9M).
Negative Updates
First Half Revenue Decline Versus Strong Prior Year
Revenues for the six months ended June 30, 2026 were $497.8M compared with $524.8M in the 2025 period (overall decline of ~5.2%). Excluding the disposed property management business, revenues declined 1.4% year-over-year (from $504.8M to $497.8M), reflecting a difficult comparable due to an unusually strong Q1 2025.
Read all updates
Q2-2026 Updates
Positive
Negative
Q2 Revenue Growth (Excluding Disposed Business)
Second quarter 2026 revenues were $283.4M, an 8.6% increase year-over-year excluding the property management business (Q2 2025 comparable of $260.9M).
Read all positive updates
Company Guidance
Management's guidance emphasized a disciplined, self‑funded AI transformation and multi‑year revenue opportunity from its development pipeline, with expected meaningful non‑commission operating cost savings beginning in 2027 funded largely from existing resources with only a modest net incremental investment; commission recognition from the $26.1 billion actively marketed development pipeline (including $18.9 billion in Florida) is expected between 2026 and 2032, and an additional $9.7 billion is slated to come to market through September 2027. Financially, the company highlighted strong recent cash trends—cash receipts from existing home sales up 15% in May, 16% in June and 8% in July versus last year (weighted average May–July +13%)—a healthy transaction mix with average price per sale ~ $1.9M through six months (LTM $1.85M vs $1.77M prior LTM), no long‑term debt, $105M cash at June 30, 2026 (and $121M cash and cash equivalents at July 31, 2026, reflecting a $13M net legal settlement), Q2 revenues of $283.4M (an 8.6% increase excluding disposed property management revenue), Q2 net loss $2.7M ($0.03/sh), Q2 adjusted EBITDA loss $0.986M and adjusted net loss $3.9M ($0.05/sh), and six‑month revenues of $497.8M (down 1.4% ex‑property management) with a six‑month net loss of $19M ($0.22/sh), six‑month adjusted EBITDA loss $11.4M and adjusted net loss $16.3M ($0.19/sh).Douglas Elliman Inc. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.01B | 1.03B | 995.63M | 955.58M | 1.15B | 1.35B |
| Gross Profit | 104.11M | 173.61M | 251.81M | 955.58M | 316.37M | 367.62M |
| EBITDA | 38.01M | 31.32M | -65.21M | -54.09M | 8.26M | 109.35M |
| Net Income | 24.87M | 15.22M | -76.32M | -42.55M | -5.62M | 98.84M |
Balance Sheet | ||||||
| Total Assets | 444.30M | 444.41M | 493.89M | 493.42M | 550.40M | 595.17M |
| Cash, Cash Equivalents and Short-Term Investments | 111.22M | 115.51M | 145.46M | 119.81M | 163.86M | 211.62M |
| Total Debt | 98.53M | 102.97M | 156.28M | 132.94M | 142.84M | 164.87M |
| Total Liabilities | 277.34M | 261.13M | 331.46M | 259.26M | 279.94M | 313.30M |
| Stockholders Equity | 166.96M | 183.95M | 162.19M | 233.23M | 268.92M | 279.93M |
Cash Flow | ||||||
| Free Cash Flow | -18.69M | -17.23M | -31.50M | -36.56M | -23.28M | 123.72M |
| Operating Cash Flow | -16.64M | -13.88M | -25.96M | -30.41M | -14.74M | 127.83M |
| Investing Cash Flow | 81.84M | 90.46M | -6.79M | -5.24M | -12.74M | -8.86M |
| Financing Cash Flow | -96.04M | -96.09M | 45.45M | -6.21M | -30.00M | 3.20M |
Douglas Elliman Inc. Technical Analysis
Negative
1.88
Price Trends
1.85
Negative
1.83
Negative
2.07
Negative
Market Momentum
-0.02
Positive
39.66
Neutral
9.29
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DOUG, the sentiment is Negative. The current price of 1.88 is below the 20-day moving average (MA) of 1.89, above the 50-day MA of 1.85, and below the 200-day MA of 2.07, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.66 is Neutral, neither overbought nor oversold. The STOCH value of 9.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DOUG.
Douglas Elliman Inc. Risk Analysis
Douglas Elliman Inc. disclosed 43 risk factors in its most recent earnings report. Douglas Elliman Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Douglas Elliman Inc. Peers Comparison
UnderperformOutperform
Sector (65)
DOUG
Douglas Elliman Inc.
1.75
-0.84
-32.43%
NMRK
Newmark Group
14.65
-3.95
-21.24%
REAX
Real Brokerage
20.73
-29.67
-58.87%
Douglas Elliman Inc. Corporate Events
Executive/Board Changes
Douglas Elliman announces routine board leadership transition
Neutral
Sep 4, 2026
On September 4, 2026, Douglas Elliman Inc. announced that Class I director Richard J. Lampen retired from the company’s Board of Directors, effective at the close of business that same day. The company emphasized that Lampen’s departur...
Business Operations and StrategyExecutive/Board Changes
Douglas Elliman Adds Independent Directors to Strengthen Board
Positive
Jul 17, 2026
On July 10, 2026, Douglas Elliman Inc.’s Board of Directors appointed Justyn Feldman and Sanghyun Lee as Class III independent directors, to serve until the 2027 annual meeting of stockholders. Feldman brings senior brokerage and financial s...
Executive/Board ChangesShareholder Meetings
Douglas Elliman Shareholders Back Board, Auditor and Pay
Positive
Jun 18, 2026
At its annual meeting of stockholders held on June 18, 2026, Douglas Elliman Inc. shareholders elected directors Michael S. Liebowitz and Mark D. Zeitchick, with both nominees receiving sufficient support despite notable withheld votes, and broker...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.