Miami International Holdings, Inc.

MIAX Financial Capital Markets

Miami International Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 19.6% from fiscal 2024.

Revenue
+10.7%
EPS
+136.3%
Free cash flow
−62.6%
Total debt
−76.5%

Quarter to September 2026, against a year earlier

34.42 0.55 −1.57%
Market cap
$3.5B
P/E
10.7×
Fwd P/E
12.0×
Dividend yield
—
F-score
n/a
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Miami International Holdings, Inc. (MIAX) Gross margin

Alert me on Gross margin

Miami International Holdings, Inc.'s gross margin over the twelve months to 30 September 2026 was 35.0%, up 3.4 percentage points from fiscal 2025 (31.6%). That is below the Capital Markets industry median of 68.2% and below the Financial sector median of 70.1%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 31.6% 7.38
FY2024 24.2% 1.85
FY2023 22.3% —

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 34.8% (1.57)
Jun 2026 36.4% 1.62
Mar 2026 34.8% 1.08
Dec 2025 33.7% 1.48
4 more quarters

Gross margin against peers

Company Gross margin
MC Moelis & Company compare 100.0%
PURR Hyperliquid Strategies Inc compare 100.0%
LAZ Lazard, Inc. compare 100.0%
PIPR Piper Sandler Companies compare 99.0%
IOND Ionic Digital Inc. compare 68.2%
MIAX Miami International Holdings, Inc. 35.0%
PJT PJT Partners Inc. compare 33.1%
MARA Marathon Digital Holdings, Inc. compare 26.3%
LCLN Lincoln International Inc. compare —
Capital Markets industry median 68.2%
Financial sector median 70.1%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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