Miami International Holdings, Inc. MIAX R2K
Miami International Holdings, Inc., through its subsidiaries, operates various markets across options, futures, and cash equities. Its markets include options through MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire; U.S. equities through MIAX Pearl Equities; U.S. futures and options on futures through MIAX Futures; and international listings through BSX and TISE. The company also trades Hard Red Spring Wheat futures and options on MIAX Futures; provides clearing services for U.S. futures and options on futures through MIAX Futures Clearing; and owns Dorman Trading, a full-service futures commission merchant provides execution and clearing services for introducing brokers, retail customers, institutional clients, and professional traders. In addition, it offers financial markets and securities services to public and private companies. Miami International Holdings, Inc. was incorporated in 2007 and is headquartered in Princeton, New Jersey.
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Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Compounding revenue at 19.6% over 5 years.
- Generates positive free cash flow.
CONS
- Earnings shrank at -73.9% CAGR over 5 years.
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Financial Services).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | MIAX Miami International Holdings, Inc. R2K | 47.25 | 36.63 | $4.48B | - | -6.04% | 16.83% | 19.57% | -73.89% |
| 2 | JPM JPMorgan Chase & Co. SPX | 299.31 | 14.33 | $802.00B | 2.00% | - | 16.47% | 12.50% | 14.83% |
| 3 | V Visa Inc. SPX | 326.36 | 28.48 | $620.65B | 0.82% | 38.38% | 60.35% | 10.92% | 10.28% |
| 4 | MA Mastercard Incorporated SPX | 493.98 | 28.57 | $436.47B | 0.70% | 61.47% | - | 13.82% | 14.66% |
| 5 | MS Morgan Stanley SPX | 208.00 | 18.84 | $328.08B | 1.92% | - | 16.39% | 9.52% | 15.20% |
| 6 | GS The Goldman Sachs Group, Inc. SPX | 1,025.56 | 18.73 | $302.55B | 1.76% | - | 14.55% | 7.16% | 15.11% |
| 7 | WFC Wells Fargo & Company SPX | 77.54 | 11.98 | $237.29B | 2.32% | - | 12.03% | 4.02% | 15.98% |
| 8 | BLK BlackRock, Inc. SPX | 1,046.88 | 26.32 | $162.51B | 2.19% | 4.89% | 11.90% | 10.65% | 2.36% |
| 9 | SCHW The Charles Schwab Corporation SPX | 87.35 | 17.37 | $151.91B | 1.47% | - | 19.08% | 4.83% | 7.21% |
Quarterly Results
Figures in USD.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | - | - | 327.08M | 327.78M | 339.78M | 369.43M | 369.69M |
| Cost of Revenue | - | - | 235.19M | 223.12M | 230.29M | 244.93M | 241.10M |
| Gross Profit | - | - | 91.88M | 104.66M | 109.48M | 124.50M | 128.59M |
| Operating Expenses | - | - | 68.94M | 75.12M | 109.79M | 81.81M | 82.62M |
| Operating Income | - | - | 22.95M | 29.54M | -305.00K | 42.69M | 45.97M |
| EBITDA | - | - | -10.61M | 36.49M | -91.28M | 39.08M | 108.18M |
| Interest Expense | - | - | 4.43M | 4.90M | 3.38M | 176.00K | 45.00K |
| Pretax Income | - | - | -21.21M | 24.66M | -102.89M | 30.87M | 100.05M |
| Tax Provision | - | - | 210.00K | 1.13M | -810.00K | 922.00K | -70.18M |
| Net Income | - | - | -21.42M | 23.53M | -102.08M | 29.94M | 170.22M |
| Diluted EPS | -0.05 | - | -0.27 | - | -1.46 | - | 1.56 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 797.92M | 1.04B | 1.14B | 1.36B |
| Cost of Revenue | 602.28M | 808.54M | 864.43M | 933.54M |
| Gross Profit | 195.63M | 232.47M | 275.64M | 430.53M |
| Operating Expenses | 187.88M | 232.61M | 278.47M | 335.66M |
| Operating Income | 7.75M | -143.00K | -2.83M | 94.87M |
| EBITDA | 92.31M | 17.84M | 142.40M | -26.31M |
| Interest Expense | 21.92M | 18.88M | 13.95M | 12.89M |
| Pretax Income | 50.11M | -22.07M | 105.08M | -68.58M |
| Tax Provision | -7.22M | -697.00K | 3.10M | 1.45M |
| Net Income | 57.55M | -20.89M | 102.12M | -70.03M |
| Diluted EPS | 0.72 | -0.26 | 1.29 | -1.00 |
Compounded Sales Growth
| 5 Years: | 19.57% |
| 1 Year: | 13.00% |
Compounded Profit Growth
| 5 Years: | -73.89% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +53.71% |
| 6 Months: | +7.22% |
| 3 Months: | +10.92% |
| 1 Month: | -0.82% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total Assets | - | 755.37M | 719.84M | 973.65M | 1.26B |
| Current Assets | - | 478.73M | 386.18M | 572.82M | 855.21M |
| Cash & Equivalents | - | 126.45M | 59.29M | 150.34M | 433.65M |
| Inventory | - | - | - | - | - |
| Receivables | - | 60.06M | 58.15M | 92.42M | 98.11M |
| Total Liabilities | - | 755.48M | 556.06M | 606.03M | 378.41M |
| Current Liabilities | - | 393.31M | 448.94M | 405.22M | 337.26M |
| Long Term Debt | 149.08M | 115.50M | 6.18M | 32.27M | - |
| Total Debt | - | 151.91M | 123.04M | 43.81M | 8.20M |
| Total Equity | - | 272.00K | 164.64M | 367.62M | 881.02M |
| Shares Outstanding | - | 79.44M | 79.44M | 79.44M | 85.89M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | 121.63M | -49.20M | 111.44M | 167.83M |
| Investing Cash Flow | - | -53.93M | -64.14M | -40.59M | -101.33M |
| Financing Cash Flow | - | -9.35M | -16.62M | 29.41M | 214.77M |
| Capital Expenditure | - | -20.03M | -25.89M | -39.01M | -34.87M |
| Free Cash Flow | - | 101.60M | -75.09M | 72.43M | 132.97M |
| Net Change in Cash | - | 58.35M | -129.96M | 100.26M | 281.27M |
| Share Buybacks | - | - | 3.31M | 12.42M | 21.83M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Gross Margin % | 24.5% | 22.3% | 24.2% | 31.6% |
| Operating Margin % | 1.0% | -0.0% | -0.2% | 7.0% |
| Net Margin % | 7.2% | -2.0% | 9.0% | -5.1% |
| ROE % | 21,159.2% | -12.7% | 27.8% | -7.9% |
| ROCE % | 2.1% | -0.1% | -0.5% | 10.3% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | T. Rowe Price Investment Management, Inc. | 4.37% | 4.15M | $195.88M |
| 2 | Horizon Kinetics Asset Management LLC | 3.64% | 3.45M | $163.09M |
| 3 | Susquehanna International Group, LLP | 3.47% | 3.30M | $155.75M |
| 4 | Blackrock Inc. | 2.35% | 2.23M | $105.49M |
| 5 | Citadel Advisors Llc | 1.69% | 1.61M | $75.97M |
| 6 | Invesco Ltd. | 1.67% | 1.59M | $74.89M |
| 7 | Alyeska Investment Group, L.p. | 1.53% | 1.45M | $68.39M |
| 8 | Vanguard Capital Management LLC | 1.49% | 1.41M | $66.86M |
| 9 | Vanguard Portfolio Management LLC | 1.45% | 1.37M | $64.97M |
| 10 | Adage Capital Partners GP L.L.C. | 1.31% | 1.25M | $58.92M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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