Compass, Inc. (COMP)
NYSEReal EstateReal Estate - ServicesSnapshot 2026-09-09
$10.68-0.65%
Close 2026-09-09 · 1-day change
NYSEReal EstateReal Estate - ServicesSnapshot 2026-09-09
Broken: Primary pillar broken — Control non-GAAP operating expenses to $2.70B-$2.75B in 2026: FY26 OPEX guidance $2.75B-$2.80B vs $2.75B target.
Compass aims to make free cash flow positive in 2026. It plans to keep expenses near $2.7 billion this year. Revenue should reach about $4.1 billion in Q2 2026. Recent deals and earnings beats show some progress.
Compass lost $157 million in cash from operations in Q1 2026. Expense control is weak with mixed progress. Revenue growth must be strong to meet guidance. The company faces sector headwinds and volatile management.
The price is about 4% above our fair value near $11. Analysts expect 50% revenue growth. Our fair value is below the Street median near $12. The market expects strong growth but risks remain.
Breaks if: cash from operating activities remains negative through FY26
Breaks if: non-GAAP operating expenses exceed $2.75B in FY26
Q2 2026 revenue falls below $4.0B
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story with a focus on improving fundamentals. The current thesis state is cautious, as the company is working to stabilize its financial performance while facing sector headwinds.
The market seems to have priced in a justified valuation, but COMP is considered expensive compared to its peers. There is an expectations gap indicating that investors may not fully anticipate the challenges ahead.
Management is on track to realize significant cost synergies, which could improve cash flow over time. However, recent financial performance has been weak, and the company remains loss-making, indicating a mixed outlook.
The long-term thesis hinges on management's ability to achieve free cash flow positivity and control expenses. Additionally, external factors like Federal Reserve rate cuts and performance of sector leaders will be crucial for COMP's recovery.
The most important moves since the prior daily snapshot.
Valuation rose by 10.6 points (from 33.8 to 44.4).
No, our read on the company is unchanged. The recent financial performance remains weak. The sector backdrop continues to be a drag on the company's prospects. There are no new threats or supports that alter the current assessment.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Over the next 1 to 3 years, COMP's performance will depend on effective management execution and favorable market conditions. Not investment advice.