Compass, Inc. (COMP)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$10.6B

Revenue growth

67.8%

Net income, last twelve months

$66.8M

Earnings per share

$0.06

Operating margin

-2.6%

Net margin

0.6%

Free cash flow

$127.8M

Return on equity

2.2%

Market value

$6.9B

Price to earnings

152.8x

Cash

$694.0M

Debt

$3.1B

Debt to equity

1.05

Shares outstanding

753.3M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter 2026 results, filed 4 August 2026.

• Revenue up 14.3% pro forma. Revenue was $4.31 billion, up 109% reported. Pro forma revenue grew 14.3% year-over-year against $3.77 billion in Q2 2025.
• Adjusted EBITDA reached second-quarter high. Adjusted EBITDA was $363 million, compared with $125 million in Q2 2025. Management described it as an all-time second-quarter level in company history.
• Revenue and EBITDA above guidance range. Revenue and Adjusted EBITDA were above the high end of the Q2 guidance range, which management tied to broad business strength and realized cost synergies.
• GAAP net income rose to $92 million. GAAP net income was $92 million, or $0.11 diluted EPS, against $39 million, or $0.07, in Q2 2025.
• Brokerage GTV up 15.9% pro forma. Brokerage GTV was $155.2 billion. Pro forma growth of 15.9% compared with 6% for the total U.S. residential market.
• Brokerage transactions up 7.4%. Brokerage agents closed 153,009 transactions. Pro forma growth of 7.4% compared with 3.5% for the U.S. market.
• Brokerage segment Adjusted EBITDA $377 million. Brokerage segment revenue was $3.96 billion and segment Adjusted EBITDA was $377 million, against $163 million in Q2 2025.
• Franchise GTV up 11.7% pro forma. Franchise GTV was $120.0 billion. Pro forma growth of 11.7%, with franchise transactions up 3.8% pro forma to 203,207 total.
• Royalty per side down on brand mix. Net royalty per side was $505, down 14.6% reported. The decline reflects newly acquired brands with lower average sale prices; pro forma it rose 5.4%.
• Title and escrow volumes rose. Title and escrow transactions were 42,608, up 7.6% pro forma. Average revenue per transaction was $3,654, up 1.5% pro forma.
• Home platform released to agents. The platform was released in July to over 4,000 agents at non-Compass brands. Nearly 50,000 are expected to have access by end of September.
• Compass One share of closings rose. 35% of Q2 closed home sale transactions went through Compass One, up from 25.8% pro forma in Q2 2025 and 31.5% in Q1 2026.
• AI Assistant drives deeper engagement. The AI Assistant enables more than 90 platform tools through natural language. About 15,000 agents generated over 97,000 conversations.
• Make-Me-Sell inventory grew. Make-me-sell entries exceeded 26,000 at quarter end, up from about 24,700. 11,400 agents used Reverse Prospecting in Q2, up 7% from Q1.

Company events

The newest 8-K filings of 62 held.

Every filing

The newest filings with the SEC of 165 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

498 funds held it at 30 Jun 2026: 229 added and 117 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• KE Holdings Inc. (BEKE): revenue $13.2B, market value $19.5B
• Jones Lang Lasalle Inc. (JLL): revenue $28.2B, market value $15.2B
• Marriott Vacations Worldwide Corp. (VAC): revenue $5.2B, market value $3.9B
• Newmark Group, Inc. (NMRK): revenue $3.6B, market value $3.0B
• Opendoor Technologies Inc. (OPEN): revenue $3.3B, market value $1.9B
• Marcus & Millichap, Inc. (MMI): revenue $812.2M, market value $1.0B
• Agnt, Inc. (AGNT): revenue $5.0B, market value $658.4M

What the company does

Compass, Inc., which does business as Compass International Holdings, is a real estate services company based in New York City. It was incorporated in Delaware on 4 October 2012 under the name Urban Compass, Inc. On 9 January 2026 it completed its acquisition of Anywhere Real Estate Inc. ("Anywhere"). Following that merger, the company has a presence in every major city in the United States and in approximately 120 countries and territories. On a combined basis after the merger, it served a global network of more than 340,000 real estate professionals.

How the business is organised

Real estate professionals at the owned brokerage are independent contractors who associate their real estate licenses with the company. In 2025 the company earned substantially all of its revenue and earnings from the owned brokerage with integrated services. The franchise business was a small portion.

Following the Anywhere merger, the owned brokerage operates primarily under the Coldwell Banker, Compass, Corcoran, Sotheby's International Realty and @properties brands. The franchise business operates primarily under Better Homes and Gardens Real Estate, Century 21, Christie's International Real Estate, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA and Sotheby's International Realty.

How it earns money

At the owned brokerage, the company collects a share of the gross sales commissions its agents earn on home sales, plus certain other fees such as flat transaction commission fees. Gross sales commissions are typically based on a percentage of the home sale price. The company recognises commissions when a transaction closes.

Franchisees pay royalties based on a percentage of their gross sales commissions, plus fees such as marketing and technology fees. Domestic franchise and license agreements have a minimum term of ten years. Some brands use a flat percentage royalty, a royalty capped at a set amount per agent per year, or a tiered royalty. Outside the United States, the company either contracts directly with independent owner-operators or uses a master franchise model, in which a third party builds a franchise network in a country or region. It receives an initial franchise fee and ongoing royalties.

The company counted 21,190 principal agents, meaning team leaders or individual agents working independently on its platform.

The Compass platform

The Compass platform is cloud-based software built for real estate agents. It lets them run their main workflows from first contact to close with a single log-in. The company says it uses AI and machine learning, and it has integrated the OpenAI application programming interface. Compass One is a client-facing version of the platform for agents' clients.

The platform is currently available only to agents at the owned brokerage operating under the Compass brand. Christie's International Real Estate franchisees use a separate platform, the CIRE platform. Other brands continue to use the tools and services in place when the merger closed.

Integrated services

- Title, escrow and settlement: the company provides these services under local brands in 44 states and Washington D.C. as of 31 January 2026. Its title agencies earn fees for searches, escrow and closing, and a share of title insurance premiums. It also owns a 22% equity interest in the title insurance underwriter Title Resources Guaranty Company. - Mortgage: it holds a 49.9% interest in a non-exclusive joint venture with Guaranteed Rate, Inc. The mortgage joint ventures were licensed in 50 states and Washington D.C. as of 31 January 2026. - Relocation: Cartus, acquired in the Anywhere merger, manages employee relocation for corporate clients. It earns commissions from brokers and household goods movers, and fees from clients. - Real estate benefit programs: these send leads to agents. One client-directed program provides a substantial majority of the leads from lead generation programs, and such programs can be ended by the client at any time. - Compass Concierge: through an independent third-party lender, this program gives home sellers access to funds for home improvement before a sale.

Brands and licences

The company owns the Century 21, Coldwell Banker, Coldwell Banker Commercial, Compass, Corcoran, ERA and @properties trademarks. The Christie's International Real Estate licence has a 100-year term, with an initial 50-year term ending in 2071. The Sotheby's International Realty licence also has a 100-year term. The company pays Sotheby's a fee of 9.5% of net royalties earned from that brand. The Better Homes and Gardens Real Estate licence has an initial 50-year term ending 1 July 2058, and the fee is 9.0% of net royalties.

Competition, rules and people

The filing describes the residential real estate and technology industries as competitive and fragmented. The company competes with other brokerages, including internet-based ones, and with providers of agent tools and of title, escrow and mortgage services. Brokerage is regulated mainly at the state level, and every agent must be affiliated with a licensed broker of record. Federal rules include the Fair Housing Act and the Real Estate Settlement Procedures Act. Antitrust litigation over cooperating commissions has changed industry practices.

Transaction volume is typically highest in spring and summer. At 31 December 2025 the company had 3,200 employees, none of them represented by a labor organization.

*From Compass's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1563190/000156319026000057/comp-20251231.htm)*

From the company's 10-K.