Lazard, Inc. (LAZ) vs Miami International Holdings, Inc. (MIAX)

Lazard, Inc. and Miami International Holdings, Inc. are both Capital Markets companies. Lazard, Inc. is the larger, with a market value of $3.5B against $3.1B — 1.2× the size. Lazard, Inc. trades at the lower P/E: 16.3× against 26.0×. Miami International Holdings, Inc. has the higher net margin (9.70% vs 6.80%) and the higher return on invested capital (16.1% vs 14.9%). Across the 17 metrics below, Lazard, Inc. leads on 11 and Miami International Holdings, Inc. on 6.

Valuation

Metric LAZ MIAX Capital Markets median
P/E 16.33 26.01 14.20
P/S 1.14 2.01 2.00
P/B 4.04 2.56 1.51
Price to free cash flow 5.52 12.24 6.36
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.12% 3.84% (3.94%)
Free cash flow yield 18.11% 8.17% (1.62%)

Profitability

Metric LAZ MIAX Capital Markets median
Gross margin 100.00% 34.35% 62.80%
Operating margin 9.54% 7.92% 0.00%
Net margin 6.80% 9.70% (0.55%)
Free cash flow margin 20.57% 16.43% 0.00%
Return on equity 25.91% 18.75% 0.00%
Return on assets 4.95% 17.78% 0.00%
Return on invested capital 14.86% 16.10% 0.00%

Growth

Metric LAZ MIAX Capital Markets median
Revenue growth (TTM) 5.69% — 20.70%
EPS growth (last fiscal year) (19.03%) (173.17%) 22.92%
Revenue growth, 5-year CAGR 3.84% — 18.16%
Net income growth, 5-year CAGR (10.17%) — 0.00%

Health

Metric LAZ MIAX Capital Markets median
Debt to equity 1.87 0.00 0.08
Current ratio 2.84 2.61 1.50
Net debt to EBITDA 0.02 (3.75) (0.24)

Dividend

Metric LAZ MIAX Capital Markets median
Dividend yield 5.54% — 1.36%
Payout ratio 0.98 — 0.19

Size

Metric LAZ MIAX Capital Markets median
Market cap 3.52b 3.06b 565.91m

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