Overview
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- TickerRMR on Nasdaq1
- IndustryReal estate investment, financial services1
- HeadquartersNewton1
- Websitewww.rmrgroup.com/Home
- Incorporated inMD5
- Business addressTwo Newton Pl., 255 Wash. St., Ste. 300, Newton, Ma 024585
- Filer categoryAccelerated filer5
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
22.9%Operating margin4
9.6%Net margin4
-5.8%Revenue growth, 20254
7.7%Return on equity4
0.20×Debt to equity4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Management Service brought in 97% of the revenue The RMR Group broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Management Service | $185.7M | $188.2M | $177.6M |
| Investment Advisory, Management and Administrative Service | $4.5M | $4.5M | $4.5M |
| Management Service, Incentive | $45.9M | $1.2M | $653.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs86¢$157.4M
- Income tax4¢$7.7M
- Profit10¢$17.6M
Out of $182.7M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Dividends paid40¢$30.3M
- Share buybacks1¢$903.0K
- Kept or used elsewhere59¢$44.5M
Out of $75.7M of cash from operations.4
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Total management, termination, incentive and advisory services revenues | $182.7M | $193.9M | $236.2M |
| Loan investment interest income | $5.8M | $1.4M | $0 |
| Compensation and benefits | -$3.4M | -$87.0K | $0 |
| Income from loan investments, net | $2.4M | $1.3M | $0 |
| Rental property revenues | $8.3M | $1.6M | $0 |
| Total reimbursable costs | $506.9M | $700.8M | $726.2M |
| Total revenues | $700.3M | $897.6M | $962.3M |
| Compensation and benefits | $161.7M | $170.4M | $136.4M |
| Equity based compensation | $9.7M | $10.6M | $12.5M |
| Separation costs | $7.1M | $6.3M | $2.0M |
| Total compensation and benefits expense | $178.5M | $187.3M | $150.8M |
| General and administrative | $42.5M | $43.7M | $36.0M |
| Other reimbursable expenses | $422.0M | $608.7M | $656.4M |
| Rental property expenses | $2.8M | $462.0K | $0 |
| Transaction and acquisition related costs | $1.1M | $7.8M | $4.2M |
| Depreciation and amortization | $11.6M | $4.7M | $1.1M |
| Total expenses | $658.5M | $852.6M | $848.6M |
| Operating income | $41.8M | $45.0M | $113.7M |
| Interest income | $5.2M | $10.4M | $10.6M |
| Interest expense | -$4.3M | -$783.0K | $0 |
| Change in fair value of Earnout liability | $8.3M | $2.6M | $0 |
| (Loss) gain on investments | -$5.1M | $7.3M | $25.2M |
| Gain on sale of real estate | $445.0K | $0 | $0 |
| Income before income tax expense | $46.4M | $64.4M | $149.5M |
| Income tax expense attributable to RMR Inc. | -$7.7M | -$11.3M | -$21.8M |
| Net income | $38.7M | $53.1M | $127.8M |
| Net income attributable to noncontrolling interest in The RMR Group LLC | -$21.9M | -$30.0M | -$70.6M |
| Net loss attributable to other noncontrolling interests | $827.0K | $40.0K | $0 |
| Net income attributable to The RMR Group Inc. | $17.6M | $23.1M | $57.1M |
| Unrealized loss on derivatives | -$117.0K | $0 | $0 |
| Less: unrealized loss on derivatives attributable to noncontrolling interest | $55.0K | $0 | $0 |
| Other comprehensive loss attributable to The RMR Group Inc. | -$62.0K | $0 | $0 |
| Comprehensive income attributable to The RMR Group Inc. | $17.5M | $23.1M | $57.1M |
| Weighted average common shares outstanding - basic (in shares) | 16.6M shares | 16.5M shares | 16.4M shares |
| Weighted average common shares outstanding - diluted (in shares) | 16.6M shares | 16.5M shares | 16.4M shares |
| Net income attributable to The RMR Group Inc. per common share - basic (in dollars per share) | $1.03 | $1.38 | $3.44 |
| Net income attributable to The RMR Group Inc. per common share - diluted (in dollars per share) | $1.03 | $1.38 | $3.44 |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Prepaid and other current assets | $13.7M | $9.8M | |
| Loans held for investment, net of allowance for credit losses of $63 | $37.0M | $0 | |
| Assets held for sale | $0 | $8.7M | |
| Total current assets | $192.7M | $294.1M | |
| Loans held for investment, net of allowance for credit losses of $526 and $343, respectively | $24.0M | $56.2M | |
| Property and equipment, net of accumulated depreciation of $7,980 and $3,447, respectively | $228.7M | $76.4M | |
| Investments | $31.9M | $23.7M | |
| Goodwill | $71.8M | $71.8M | |
| Intangible assets, net of accumulated amortization of $9,074 and $3,719, respectively | $26.1M | $20.3M | |
| Operating lease right of use assets | $22.9M | $27.4M | |
| Deferred tax asset | $13.2M | $15.2M | |
| Other assets, net of accumulated amortization of $97,156 and $87,740, respectively | $96.6M | $106.1M | |
| Total assets | $718.2M | $700.5M | |
| Reimbursable accounts payable and accrued expenses | $43.6M | $90.4M | |
| Accounts payable and accrued expenses | $38.7M | $31.6M | |
| Current portion of Earnout liability | $3.6M | $517.0K | |
| Operating lease liabilities | $5.6M | $5.9M | |
| Current portion of secured financing facility, net | $26.3M | $0 | |
| Liabilities held for sale | $0 | $5.0M | |
| Total current liabilities | $117.8M | $133.4M | |
| Operating lease liabilities, net of current portion | $17.7M | $22.1M | |
| Amounts due pursuant to tax receivable agreement, net of current portion | $15.9M | $18.4M | |
| Employer compensation liability, net of current portion | $10.4M | $9.3M | |
| Earnout liability, net of current portion | $0 | $11.4M | |
| Secured financing facility, net of current portion | $18.3M | $41.1M | |
| Mortgage notes payable, net | $136.2M | $45.1M | |
| Total liabilities | $316.2M | $281.1M | |
| Additional paid in capital | $121.7M | $118.8M | |
| Retained earnings | $453.8M | $436.2M | |
| Cumulative other comprehensive loss | -$62.0K | $0 | |
| Cumulative common distributions | -$347.8M | -$317.5M | |
| Total shareholders equity | $227.7M | $237.6M | |
| Noncontrolling interest in The RMR Group LLC | $172.3M | $181.4M | |
| Noncontrolling interest in other consolidated entities | $2.1M | $404.0K | |
| Total noncontrolling interests | $174.4M | $181.8M | |
| Total equity | $402.0M | $419.4M | $423.7M |
| Total liabilities and equity | $718.2M | $700.5M | |
| Allowance for credit loss | $63.0K | $63.0K | |
| Allowance for credit losses | $526.0K | $343.0K | |
| Accumulated depreciation | $8.0M | $3.4M | |
| Accumulated Amortization | $9.1M | $3.7M | |
| Accumulated amortization | $97.2M | $87.7M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net income | $38.7M | $53.1M | $127.8M |
| Depreciation and amortization | $11.6M | $4.7M | $1.1M |
| Amortization of interest rate caps | $70.0K | $0 | $0 |
| Straight line office rent | -$291.0K | -$380.0K | -$345.0K |
| Amortization expense related to other assets | $9.4M | $9.4M | $9.4M |
| Provision for credit losses | $190.0K | $602.0K | $0 |
| Provision (benefit) for deferred income taxes | $2.0M | $3.1M | -$1.1M |
| Gain on sale of real estate | -$445.0K | $0 | $0 |
| Change in fair value of Earnout liability | -$8.3M | -$2.6M | $0 |
| Operating expenses paid in The RMR Group Inc. common shares | $3.8M | $3.9M | $3.6M |
| Distributions from investments | $2.3M | $2.4M | $2.2M |
| Loss (gain) on investments | $5.1M | -$7.3M | -$25.2M |
| Due from related parties | $54.6M | -$14.4M | -$6.6M |
| Prepaid and other current assets | -$2.2M | -$1.5M | -$1.6M |
| Reimbursable accounts payable and accrued expenses | -$46.9M | $12.5M | -$2.3M |
| Accounts payable and accrued expenses | $6.2M | -$2.3M | $2.3M |
| Net cash provided by operating activities | $75.7M | $61.4M | $109.2M |
| Acquisition of MPC Partnership Holdings LLC, net of cash acquired | $0 | -$78.8M | $0 |
| Rental property acquisitions | -$166.0M | -$70.5M | $0 |
| Funding of loans held for investment | -$7.6M | -$57.2M | $0 |
| Repayment of loans held for investment | $3.0M | $0 | $0 |
| Purchase of property and equipment | -$3.6M | -$3.9M | -$4.0M |
| Purchase of interest rate caps | -$1.9M | $0 | $0 |
| Proceeds from deferred origination fees | $0 | $700.0K | $0 |
| Investment in residential fund | -$768.0K | -$213.0K | $0 |
| Investment in joint ventures | $53.5M | ||
| Investment in joint ventures | -$11.1M | $0 | |
| Proceeds from sale of property | $4.2M | $0 | $0 |
| Net cash (used in) provided by investing activities | -$183.9M | -$209.8M | $49.5M |
| Proceeds from secured financing facility | $5.6M | $41.7M | $0 |
| Repayments of secured financing facility | -$2.2M | $0 | $0 |
| Proceeds from mortgage notes payable | $93.2M | $46.5M | $0 |
| Payment of deferred financing fees | -$2.7M | -$2.0M | $0 |
| Distributions to noncontrolling interests | -$31.0M | -$32.2M | -$50.1M |
| Distributions to common shareholders | -$30.3M | -$28.4M | -$26.6M |
| Member distributions upon sale of 260 Woodstock | -$409.0K | $0 | $0 |
| Repurchase of common shares | -$903.0K | -$1.1M | -$734.0K |
| Payments under the tax receivable agreement | -$2.4M | -$2.4M | -$2.4M |
| Net cash provided by (used in) financing activities | $28.8M | $22.1M | -$79.8M |
| Decrease in cash and cash equivalents | -$79.3M | -$126.4M | $78.9M |
| Income taxes paid | $5.7M | $9.1M | $21.2M |
| Interest paid | $6.4M | $371.0K | $0 |
| Recognition of right of use assets and related lease liabilities | $1.9M | $3.6M | $5.1M |
| Assumption of mortgage note payable | $0 | $5.4M | $0 |
| Property and equipment accrued, not paid | $18.0K | $465.0K | $39.0K |
Leadership
Who has led The RMR Group, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerAdam Portnoy1
Former names
- Reit Management & Research Inc.Jul 31, 2015 to Jul 31, 20155
Recent filings
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 21, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Sep 14, 20264 OWNERSHIP DOCUMENT
- Aug 5, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.rmrgroup.com/Home1
- X (Twitter)x.com/The_RMR_Group1
- YouTubewww.youtube.com/channel/UCQFrx9EQ92_7tikEWxn_hng1
- LinkedInwww.linkedin.com/company/rmr1
- WikidataQ84698811
- SEC EDGARCIK 1644378
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataThe RMR Group on Wikidata
- 2SEC EDGARThe RMR Group filings on SEC EDGAR
- 3Company websiteThe RMR Group logo
- 4SEC EDGARThe RMR Group 10-K for fiscal 2025
- 5SEC EDGARThe RMR Group filings on SEC EDGAR
- 6SEC EDGARThe RMR Group 10-K for fiscal 2018
- 7SEC EDGARThe RMR Group 10-K for fiscal 2019
- 8SEC EDGARThe RMR Group 10-K for fiscal 2020
- 9SEC EDGARThe RMR Group 10-K for fiscal 2021
- 10SEC EDGARThe RMR Group 10-K for fiscal 2022
- 11SEC EDGARThe RMR Group 10-Q for fiscal 2025
- 12SEC EDGARThe RMR Group 10-Q for fiscal 2026
- 13SEC EDGARThe RMR Group 10-Q for fiscal 2026
- 14SEC EDGARThe RMR Group 10-K for fiscal 2018