The RMR Group (RMR) Investor presentation summary

Investment highlights

• Diversified revenue streams from perpetual and private capital clients across all major commercial real estate sectors, with over $37 billion in AUM as of March 31, 2026.

• Over 70% of services revenues are secured by 20-year evergreen contracts with significant termination provisions, supporting durable earnings.

• Attractive fee upside from incentive fees and potential promote income on private capital co-investments, with historical incentive fees averaging ~$100 million annually (2016–2019).

• Highly profitable business model with annual Adjusted EBITDA margins exceeding 40%.

• Consistent shareholder returns through quarterly dividend growth and special dividends.

Platform and operations

• Vertically integrated national platform with more than 30 offices and over 800 real estate professionals.

• Deep expertise across accounting, finance, development, asset management, acquisitions, and technology.

• Commitment to ESG, including a zero emissions promise by 2050 and significant reductions in energy, water, and GHG emissions since 2019.

• Strategic investments in AI to drive operating leverage, cost efficiency, and NOI improvement.

Financial performance

• Adjusted EBITDA has consistently exceeded $100 million annually, with margins above 40%.

• Annual dividend per share has grown at an 8% CAGR, reaching $1.80 in 2024, with a $7.00 special dividend paid in 2021.

• GAAP net income attributable for the quarter ended March 31, 2026, was $1.0 million.

• Total assets as of March 31, 2026, were $684.6 million, with equity of $404.4 million.