Douglas Elliman Inc. (DOUG)
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. It maintains a significant footprint with approximately 100 offices and a robust team of around 6,500 real estate agents. These operations span the New York metropolitan region and extend across key states such as Florida, California, Connecticut, Massachusetts, Colorado, New Jersey, and Texas. Founded in 1911, Douglas Elliman Inc. is headquartered in Miami, Florida. Notably, it has operated as an entity independent of Vector Group Ltd. since December 29, 2021.
Sector: Real Estate Agents & Managers (For Others)
Industry: Real Estate - Services
Douglas Elliman Inc.
NYSE:DOUGReal Estate · Real Estate - Services
+6.00%$1.59
AH Close$1.63+2.41%vs close
AH Close$1.63+2.41%vs close
Mkt Cap$144.52M
Float71.3M
O/S90.89M
Inst Own51.2%
SI3.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.03B
Net Income$15.22M
Total Assets$444.41M
Free Cash Flow-$17.23M
Debt & Equity
Debt 36%
Equity 64%
Total Debt$102.97M
Total Equity$183.95M
Shares Outstanding
Short Interest
Split History1 split
- 1.1:1Forward splitJun 21, 20231 share → 1.1
Balance Sheet Details
Assets$444.41M
Liabilities$261.13M
Accounts Receivable$25.61M
Accounts Payable$3.78M
Inventory$0
PP&E (Net)$113.46M
Goodwill$32.23M
Intangible Assets$71.66M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $1.03B | $995.63M | $955.58M | $1.15B | $1.35B | $773.99M | $784.11M | $754.09M |
| YoY Growth | 3.8% | 4.2% | -17.1% | -14.8% | 74.8% | -1.3% | 4.0% | - |
| Cost of Revenue | $859.45M | $743.82M | $0 | $836.8M | $985.52M | $0 | $525.23M | $500.37M |
| Gross Profit | $173.61M | $251.81M | $955.58M | $316.37M | $367.62M | $773.99M | $258.88M | $253.72M |
| Gross Margin | 16.8% | 25.3% | 100.0% | 27.4% | 27.2% | 100.0% | 33.0% | 33.6% |
| Research and Development | $0 | $0 | $23.79M | $22.77M | $15.34M | $14.86M | $15.24M | $8.8M |
| Selling, General, and Administrative | $191.66M | $200.38M | $209.12M | $217.18M | $169.97M | $140.23M | $173.44M | $164.1M |
| Other | $42.7M | $120.25M | $787.17M | $80.96M | $80.2M | $668.18M | $73.68M | $79.32M |
| Total Operating Expenses | $234.35M | $320.63M | $1.02B | $320.92M | $265.52M | $823.27M | $262.36M | $252.22M |
| Operating Income (EBIT) | -$60.74M | -$68.83M | -$64.5M | -$4.54M | $102.1M | -$49.28M | -$3.48M | $3.97M |
| Operating Margin | -5.9% | -6.9% | -6.7% | -0.4% | 7.5% | -6.4% | -0.4% | 0.5% |
| Interest Expense | $5.07M | $2.94M | $0 | $148K | $0 | $0 | $0 | $0 |
| Interest Income | $6.22M | $5.53M | $5.81M | $1.93M | $83K | $190K | $600K | $387K |
| Other Income (Expense) | $78.61M | -$7.06M | $6.28M | $4.64M | -$1.31M | $2.96M | $12.29M | $1.63M |
| Income Before Tax (EBT) | $17.87M | -$75.89M | -$58.22M | $104K | $100.78M | -$46.33M | $8.81M | $5.6M |
| Income Tax Expense | $3.56M | $1.12M | -$15.05M | $6.5M | $2.13M | $44K | $354K | $400K |
| Net Income | $15.22M | -$76.32M | -$42.55M | -$5.62M | $98.84M | -$46.37M | $8.46M | $3.67M |
| Net Income Margin | 1.5% | -7.7% | -4.5% | -0.5% | 7.3% | -6.0% | 1.1% | 0.5% |
| Supplementary Data | ||||||||
| EPS | 0.17 | -0.91 | -0.52 | -0.08 | 1.21 | -0.54 | 0.10 | 0.04 |
| Diluted EPS | 0.17 | -0.91 | -0.52 | -0.08 | 1.21 | -0.54 | 0.10 | 0.04 |
| Weighted Average OS | 89.52M | 83.86M | 82.25M | 73.79M | 85.27M | 85.27M | 81.61M | 81.61M |
| EBITDA | $31.32M | -$65.21M | -$54.09M | $8.26M | $109.35M | $39.38M | $5.16M | $9.86M |
| EBITDA Margin | 3.0% | -6.5% | -5.7% | 0.7% | 8.1% | 5.1% | 0.7% | 1.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $115.51M | $135.66M | $119.81M | $163.86M | $211.62M | $94.42M | $71.48M |
| Short-Term Investments | $0 | $9.8M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $115.51M | $145.46M | $119.81M | $163.86M | $211.62M | $94.42M | $71.48M |
| Accounts Receivable | $25.61M | $27.47M | $38.82M | $42.53M | $41.68M | $31.72M | $35.19M |
| Inventory | $0 | $0 | $0 | $0 | $15.34M | $10.37M | $0 |
| Other Current Assets | $20.18M | $23.14M | $22.64M | $18.66M | $12.17M | $11.85M | $11.57M |
| Total Current Assets | $161.3M | $196.06M | $181.28M | $225.06M | $280.81M | $148.37M | $118.24M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $113.46M | $138.19M | $147.89M | $159.49M | $162.92M | $175.81M | $185.37M |
| Goodwill | $32.23M | $32.23M | $32.23M | $32.23M | $32.57M | $31.76M | $78.01M |
| Intangible Assets | $71.66M | $72.31M | $72.96M | $73.67M | $74.42M | $68.31M | $80.47M |
| Long-Term Investments | $12.75M | $9.53M | $14.83M | $14.56M | $10.62M | $1.65M | $1.67M |
| Deferred Tax Assets | $0 | $0 | $977K | $0 | $29M | $0 | $0 |
| Other Long-Term Assets | $53.01M | $45.57M | $43.25M | $45.4M | $4.84M | $28.1M | $24.84M |
| Total Long-Term Assets | $283.11M | $297.82M | $312.14M | $325.34M | $314.36M | $305.62M | $370.37M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $444.41M | $493.89M | $493.42M | $550.4M | $595.17M | $453.98M | $488.61M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $3.78M | $3.06M | $6.14M | $5.46M | $5.87M | $6.34M | $3.07M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $12.53M | $12.5M | $10.06M |
| Current Income Tax Payable | $3.56M | $0 | $0 | $0 | $1.24M | $17K | $0 |
| Current Unearned Revenue | $15.97M | $18.23M | $11.23M | $8.22M | $6.69M | $0 | $0 |
| Other Current Liabilities | $19.38M | $20.46M | $20.17M | $13.61M | $23.5M | $19.41M | $23.04M |
| Total Current Liabilities | $98.67M | $92.16M | $97.25M | $89.96M | $132.47M | $99.65M | $83.56M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $0 | $32.67M | $0 | $0 | $176K | $12.92M | $20M |
| Long-Term Unearned Revenue | $74.95M | $63.77M | $51.18M | $54.71M | $39.56M | $32.1M | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $14.47M | $11.41M | $143K | $0 |
| Other Long-Term Liabilities | $5.13M | $40.94M | $133K | $306K | $188K | $2.28M | $34.89M |
| Total Long-Term Liabilities | $162.46M | $239.31M | $162.02M | $189.99M | $180.83M | $190.74M | $200.76M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $261.13M | $331.46M | $259.26M | $279.94M | $313.3M | $290.39M | $284.32M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $883K | $889K | $879K | $809K | $812K | $163.59M | $204.28M |
| Retained Earnings | -$108.65M | -$123.87M | -$47.55M | -$5M | $622K | $0 | $0 |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $291.72M | $285.17M | $279.9M | $273.11M | $278.5M | $0 | $0 |
| Total Equity | $183.95M | $162.19M | $233.23M | $268.92M | $279.93M | $163.59M | $204.28M |
| Minority Interest | -$672K | $237K | $923K | $1.54M | $1.94M | $0 | $0 |
| Total Liabilities and Equity | $445.08M | $493.65M | $492.5M | $548.87M | $593.23M | $453.98M | $488.61M |
| Supplementary Data | |||||||
| Total Debt | $102.97M | $156.28M | $132.94M | $142.84M | $164.87M | $192.47M | $191.63M |
| Net Debt | -$12.54M | $20.62M | $13.13M | -$21.02M | -$46.76M | $98.05M | $120.14M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $14.31M | -$77M | -$43.17M | -$6.4M | $98.65M | -$46.37M | $8.46M | $5.2M |
| Depreciation & Amortization | $8.38M | $7.74M | $8.03M | $8.01M | $8.56M | $25.86M | $8.64M | $8.36M |
| Deferred Income Tax | $0 | $977K | -$15.44M | $4.19M | -$73K | $78K | $225K | -$283K |
| Stock-Based Compensation | $8.58M | $6.57M | $13.07M | $11.14M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$335K | $124K | -$999K | $3.38M | -$10.48M | -$4.82M | -$2.28M | -$5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | -$8.79M | -$18.96M | $550K |
| Accounts Payable | $1.53M | -$6.9M | $9.68M | -$22.73M | -$2.16M | $3.53M | $1.91M | -$5.15M |
| Other Working Capital | -$20.54M | $5.69M | -$28.24M | -$35.41M | $9.41M | $3.27M | $1.23M | $10.18M |
| Total Working Capital Change | -$19.34M | -$1.09M | -$19.56M | -$54.76M | -$3.23M | -$6.81M | -$18.1M | $577K |
| Other Non-Cash Items | -$25.8M | $36.84M | $26.65M | $23.07M | $23.92M | $59.1M | $8.36M | -$643K |
| Net Cash from Operating | -$13.88M | -$25.96M | -$30.41M | -$14.74M | $127.83M | $31.86M | $7.58M | $13.21M |
| Investing Activities | ||||||||
| Capital Expenditures | -$3.35M | -$5.53M | -$6.14M | -$8.54M | -$4.11M | -$6.13M | -$8.08M | -$12.96M |
| Acquisitions | $82.49M | $0 | $0 | -$400K | -$500K | $2.04M | -$2.05M | $250K |
| Purchases of Investments | -$88.01M | -$10.13M | -$515K | -$3.88M | -$4.34M | $0 | -$1.67M | $0 |
| Sales of Investments | $99.33M | $8.88M | $1.42M | $375K | $0 | $0 | $1.67M | $0 |
| Other Investing Activities | $0 | $0 | $0 | -$300K | $88K | $0 | $8.62M | $0 |
| Net Cash from Investing | $90.46M | -$6.79M | -$5.24M | -$12.74M | -$8.86M | -$4.09M | -$1.51M | -$12.71M |
| Financing Activities | ||||||||
| Debt Repaid | $94.07M | -$48.75M | - | $12.53M | $361K | $63K | $155K | $125K |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | -$1.3M | -$1.99M | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | -$4.22M | -$16.25M | -$31.47M | $0 | -$18.75M | -$2.56M |
| Other Financing Activities | -$2.03M | -$2M | $0 | -$1.23M | $35.03M | -$80K | -$216K | -$1.07M |
| Net Cash from Financing | -$96.09M | $45.45M | -$6.21M | -$30M | $3.2M | -$143K | -$19.12M | -$3.75M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$19.51M | $12.7M | -$41.87M | -$57.48M | $122.16M | $27.63M | -$13.05M | -$3.25M |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$13.88M | -$25.96M | -$30.41M | -$14.74M | $127.83M | $31.86M | $7.58M | $13.21M |
| Capital Expenditure | -$3.35M | -$5.53M | -$6.14M | -$8.54M | -$4.11M | -$6.13M | -$8.08M | -$12.96M |
| Free Cash Flow | -$17.23M | -$31.5M | -$36.56M | -$23.28M | $123.72M | $25.74M | -$502K | $247K |
| Cash at Beginning | $142.22M | $129.52M | $171.38M | $228.87M | $106.7M | $79.07M | $92.12M | $95.37M |
| Cash at End | $122.71M | $142.22M | $129.52M | $171.38M | $228.87M | $106.7M | $79.07M | $92.12M |