Strategic Growth & Financial Overview
Majority of $3B Expected to be Invested and Returned
to Shareholders
Newmark's Use of Cash Targets: 2022-2025
30% - 40%
Cash Returned
to Shareholders1
= $3B
cash generated4
through 2025
10% - 20%³
Maintenance and CapEx
Return cash to shareholders
50% - 60%
Invest in Growth²
through share repurchases
and dividends
Note: Above figures are for illustrative purposes only and do not reflect formal guidance. The targets shown are for 2022-2025 and could be higher or lower depending on various factors.
1. Via dividends, distributions, and/or repurchases/redemptions of shares/units.
2. Assumes -4% -6% pure organic growth before other organic growth from net new hires. Goals also assume an average of 6X - 8X AEBITDA multiple for new hires and acquisitions. The
amount invested could vary depending on the amount of equity used for acquisitions.
3. Capital expenditures and employee loans for producers. The amount invested could vary depending on the amount of equity used for producers.
4. The total amount of cash available could vary depending on additional borrowing at up to 1.5x net leverage.
Average net share count
growth of 2% or less
per annum
NEWMARK 28View entire presentation