Miami International MIAX

Financial - Capital Markets, Financial Services

$33.98

−2.89%

Market cap: $3.4B
PE: 39.1×
Forward PE: n/m; not a meaningful number
Revenue, 12 months: $1.5B; +17% on a year ago
Net margin: 9.7%

Miami International trades at 39.1× trailing earnings. Revenue was $1.5B over the last twelve months, up 17% on a year earlier with a 10% net margin.

Charts

Financials

Income statement for MIAX, by quarter
Income statement	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	$276.7M	$323.9M	$327.1M	$327.8M	$339.8M+23%	$369.4M+14%	$369.7M+13%	$387.6M+18%
Cost of revenue	$207.1M	$242.2M	$235.2M	$223.1M	$230.3M+11%	$244.9M+1%	$241.1M+3%	$246.5M+11%
Gross profit	$69.6M	$81.7M	$91.9M	$104.7M	$109.5M+57%	$124.5M+52%	$128.6M+40%	$141.1M+35%
	−$1.2M	$7.2M	$22.3M	$27.3M	−$305K−74%	$42.7M+496%	$46M+106%	$27.8M+2%
Interest expense	$2.2M	$4.4M	$4.4M	$4.9M	$3.4M+53%	$176K−96%	$45K−99%	$44K−99%
Pre-tax income	−$1.6M	$3.3M	−$21.2M	$24.7M	−$102.9M+6151%	$30.9M+845%	$100M	$28.8M+17%
	$1.6M	$374K	$210K	$1.1M	−$810K	$922K+147%	−$70.2M	−$15.4M
Net income	−$3.2M	$2.9M	−$21.4M	$23.5M	−$102.1M+3086%	$29.9M+936%	$170.2M	$44.2M+88%
	−$0.05	$0.04	−$0.34	$0.30	−$1.46+2820%	$0.37+825%	$1.56	$0.40+33%
	63.2M	72.9M	63.5M	78.5M	70.1M+11%	80.7M+11%	109.2M+72%	110.7M+41%

EPS, diluted: Q4 FY24 and Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY24 and Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Financial - Capital Markets nearest Miami International's size, closest first.

Company	Market cap	PE	Its 10y median PE	Fwd PE	P/S	Revenue growth	Net margin
MIAXMiami International	$3.4B	39.1×	46.1×	n/m	n/m	+17%	9.7%
WTWisdomTree	$3.2B	40.8×	21.9×	n/m	n/m	+37%	13.3%
PIPRPiper Sandler Companies	$4.6B	15.0×	20.6×	n/m	n/m	+32%	14.5%
MKTXMarketaxess	$5.8B	19.4×	49.3×	n/m	n/m	+4%	35.2%
VIRTVirtu Financial	$8.7B	9.3×	10.9×	n/m	n/m	+21%	13.5%
SFStifel Financial	$10.1B	11.9×	14.5×	n/m	n/m	+11%	14.3%
OPYOppenheimer	$1.1B	11.4×	9.5×	n/m	n/m	+21%	5.7%
FRHCFreedom	$10.9B	67.7×	25.0×	n/m	n/m	+15%	6.5%
SEICSEI Investments	$12.3B	18.0×	18.4×	n/m	n/m	+11%	28.8%
CRCLCircle Internet	$21.8B	54.0×	54.4×	n/m	n/m	+37%	15.5%
LPLALPL Financial	$24.9B	25.2×	21.1×	11.7×	n/m	+39%	5.1%
Peer median	$9.4B	18.7×	20.8×	11.7×	n/a	+21%	13.9%