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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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 company's core activity centers on residential real estate brokerage.
How they make money
Douglas Elliman generates revenue primarily through commissions earned on residential real estate brokerage transactions. The company also provides ancillary services including title and escrow, mortgage services, and property management, while operating a luxury brand model that focuses on high-value property sales.
Products & services
Residential real estate brokerage, luxury property sales, new development marketing, title and escrow services, mortgage services, and property management.
Brands & revenue mix
Douglas Elliman
The primary luxury real estate brokerage brand.
Separate brand revenue is not available in this research.Source
Elliman International
International licensing brand launched in 2025.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Commissions And Other Brokerage IncomeUSD 989.84M95.8%
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Luxury residential real estate buyers and sellersSource
The company's residential real estate brokerage business is highly fragmented, and no single client accounts for a material portion of total revenue as of the fiscal year ended December 31, 2025.
Suppliers, materials & equipment
Technology and software service providers — Various third-party vendors providing technology-enabled real estate services and platforms; specific supplier names are unnamed.Source
Business relationships & partnerships
Purlin — An automated intelligence company that powers multiple platforms for Douglas Elliman, including a personalized collaboration platform.Source
Competitors
Residential real estate brokerage firms — Other national and regional residential real estate brokerage firms that compete for agents and transaction volume.Source
Overall investment score · Quality, value, risk and opportunity
56
Fair
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
51
Fair
Financial Strength
67
Business Quality / Moat
48
Management
80
Growth Quality
14
Risk / Durability
10
Cheap for a Reason · Review the Risks
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
59
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
56/100
Building Historical Record
Model Score 56/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
What we like
•Balance-sheet / debt profile scores strongly
•Valuation scores attractively
What to watch
•Debt service risk
•Revenue fundamentals are weak
Company-specific research
Questions worth answering for DOUG
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•What is driving DOUG's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
•How long can DOUG fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Does DOUG's balance between cash and debt leave enough flexibility if business conditions weaken?
•Is DOUG's valuation discount tied to a temporary concern or to a longer-term business risk?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for DOUG
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Debt service risk
Interest coverage is low (~-12.0x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on DOUG.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Prestigious luxury brand positioning.
+High average transaction value compared to competitors.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Real Estate - Services industry.
−Sensitivity to residential real estate market conditions and interest rates.
−Dependence on the retention and recruitment of real estate agents.
−Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Fair56/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Elite
92
Debt Cost4.9%
Debt Reduction YoY34.1%
Debt / Equity0.56x
Tap for breakdown →
Revenue
Poor
39
Revenue YoY-2.6%
Revenue CAGR4.0%
Net Margin2.5%
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Asset
Fair
55
Asset Growth YoY-10.0%
Liquidation/Share$1.86
Net Assets/MCap2.50x
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Capital
Strong
71
Earnings Yield18.0%
Buyback Yield0.6%
Debt Cost4.9%
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Management
Strong
80
ROIC-31.5%
ROE14.9%
ROA5.6%
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Moat
Weak
48
EPS Growth20.9%
FCF/Share Growth—
Rev/Share Growth-1.1%
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Valuation
Strong
85
Intrinsic Value$2.21
Value Reference$1.33
MOS28.1%
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Buffett
Fair
67
Revenue39
Moat48
Valuation85
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MOS
Strong
78
MOS %28.1%
Value Reference$1.33
Deep Discount Reference$0.88
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Financial
Poor
25
Interest Coverage-12.0x
ROIC-31.5%
FCF Yield-12.5%
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Master
Fair
64
Financial25
Valuation85
Debt92
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Resilience
Poor
30
Survival Years6.7 yrs
Current Ratio1.63x
FCF Margin-1.7%
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Score Changes
6 historical score records available
Previous Score
54
Sep 21, 2026
Change
+2.6
points
Current Score
56
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets0
Capital+1.0
Management0
Moat0
Valuation+12.0
Buffett+1.2
DOUG increased 2.6 points because Valuation improved by 12 points.
Positive Contributors
+ Valuation improved by 12 points
Projected Score
Projected Score
53
Projected Change
-3.2 points
Preliminary comparable-period financial changes suggest decline of approximately 3.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
Revenue
$1.01B
$1.03B
$995.6M
$955.6M
····
····
····
····
····
Cost of Revenue
$902.0M
$859.4M
$743.8M
$0.00
····
····
····
····
····
Gross Profit
$104.1M
$173.6M
$251.8M
$955.6M
····
····
····
····
····
Research & Development
$0.00
$0.00
$0.00
$23.8M
····
····
····
····
····
SG&A Expenses
$176.8M
$191.7M
$200.4M
$209.1M
····
····
····
····
····
Operating Expenses
$172.2M
$234.4M
$320.6M
$1.02B
····
····
····
····
····
EBITDA
$38.0M
$31.3M
-$65.2M
-$54.1M
····
····
····
····
····
Operating Income
-$68.1M
-$60.7M
-$68.8M
-$64.5M
····
····
····
····
····
Interest Expense
$426K
$5.1M
$2.9M
$0.00
····
····
····
····
····
Income Before Tax
$27.8M
$17.9M
-$75.9M
-$58.2M
····
····
····
····
····
Income Tax Expense
$3.6M
$3.6M
$1.1M
-$15.1M
····
····
····
····
····
Net Income
$24.9M
$15.2M
-$76.3M
-$42.6M
····
····
····
····
····
Basic EPS
$0.26
$0.17
$-0.91
$-0.52
····
····
····
····
····
Basic Shares
91.13M
89.52M
83.86M
82.25M
····
····
····
····
····
Diluted Shares
91.13M
89.52M
83.86M
82.25M
····
····
····
····
····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Debt reduced
What Weakened
Cash position declined
Potential Score Impact
Positive indicators included revenue growth, debt levels, net income margin. Pressure indicators included EPS growth, cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 4.5%. EPS declined 88.9%. Cash declined 18.4%. Total debt declined 33.0%. Net income margin improved by 7.4 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.