NEWMARK GROUP, INC.
For the period ended Oct 29, 2026. Filed Oct 29, 2026.
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Oct 29, 2026 · Filed Oct 29, 2026
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Contents
EX-99.1 · NET LEVERAGE
NET LEVERAGE
As of September 30, 2026, total corporate debt was $877.5 million (currently consisting of only Long-term debt), which net of total liquidity of $240.0 million, equaled net debt of $637.5 million. $637.5 million divided by trailing twelve month Adjusted EBITDA of $640.7 million equaled a net leverage ratio of 1.0 times. Long-term debt as shown on the balance sheet is net of $2.5 million of deferred finance costs.
| NEWMARK GROUP, INC. | ||||||
|---|---|---|---|---|---|---|
| RECONCILIATION OF GAAP NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | ||||||
| TO FREE CASH FLOW AND ADJUSTED FREE CASH FLOW | ||||||
| (in millions) | ||||||
| (unaudited) | ||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | Trailing Twelve Months September 30, | ||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |
| Net cash provided by (used in) operating activities | $(286.1) | $112.6 | $(171.3) | $(446.5) | $447.2 | $(43.9) |
| Purchase of fixed assets | (17.4) | (7.7) | (48.4) | (19.7) | (58.1) | (25.7) |
| Free Cash Flow | (303.5) | 104.9 | (219.7) | (466.2) | 389.1 | (69.6) |
| Adjustments: | ||||||
| Loan originations - loans held for sale | 2,944.2 | 3,267.8 | 7,668.2 | 7,163.7 | 11,232.2 | 10,498.1 |
| Loan sales - loans held for sale | (2,532.0) | (3,209.7) | (7,253.6) | (6,570.5) | (11,284.5) | (10,138.0) |
| Adjusted Free Cash Flow (1) | $108.7 | $163.0 | $194.9 | $127.0 | $336.8 | $290.5 |
(1) Includes the net $42.3 million received from insurers pursuant to the previously disclosed settlement of a stockholder derivative litigation for the three and nine months ended September 30, 2025.
| NEWMARK GROUP, INC. | ||||
|---|---|---|---|---|
| Other Income (Loss) | ||||
| (in millions) | ||||
| (unaudited) | ||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
| 2026 | 2025 | 2026 | 2025 | |
| Other items, net | $1.2 | $42.0 | 1.9 | 43.0 |
| Other income (loss), net under GAAP | 1.2 | 42.0 | 1.9 | 43.0 |
| To reconcile from GAAP other income, exclude: | ||||
| Other items, net | (1.2) | (42.0) | (1.9) | (42.9) |
| Other income, net for Pre-tax Adjusted Earnings | $— | $— | — | 0.1 |
Newmark's Other income (loss), net under GAAP includes equity method investments that represent Newmark's pro rata share of net gains or losses and mark-to-market gains or losses on investments and income related to the forfeiture of restricted Class A common stock. For the three and nine months ended September 30, 2026, the difference between GAAP and non-GAAP other income primarily included income related to the forfeiture of restricted Class A common stock. For the three and nine months ended September 30, 2025, the difference between GAAP and non-GAAP other income primarily included net $42.3 million received from insurers pursuant to the previously disclosed settlement of a stockholder derivative litigation.
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