Earnings Per Share and Weighted-Average Shares Outstanding (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Basic Earnings Per Share

The following is the calculation of Newmark’s basic EPS (in thousands, except per share data): 

	Year Ended December 31,
	2025		2024		2023
Basic earnings per share:
Net income (loss) available to common stockholders	$	126,186	$	61,234	$	42,575
Basic weighted-average shares of common stock outstanding	178,456		172,179		173,475
Basic earnings per share	$	0.71	$	0.36	$	0.25

Schedule of Fully Diluted Earnings Per Share

The following is the calculation of Newmark’s fully diluted EPS (in thousands, except per share data):

	Year Ended December 31,
	2025		2024		2023
Fully diluted earnings per share:
Net income (loss) available to common stockholders	$	126,186	$	61,234	$	42,575
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	46,808		—		—
Net income (loss) for fully diluted shares	$	172,994	$	61,234	$	42,575
Weighted-average shares:
Common stock outstanding	178,456		172,179		173,475
Partnership units(1)	69,773		—		—
RSUs (Treasury stock method)	4,871		5,110		2,413
Newmark exchange shares	350		402		494
Fully diluted weighted-average shares of common stock outstanding	253,450		177,691		176,382
Fully diluted earnings per share	$	0.68	$	0.34	$	0.24

(1)Partnership units collectively include FPUs, limited partnership units, and Cantor Units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information).