Miami International Holdings, Inc. (MIAX) vs Marex Group PLC (MRX)

Miami International Holdings, Inc. and Marex Group PLC are both Capital Markets companies. Marex Group PLC is the larger, with a market value of $5.2B against $3.5B — 1.5× the size. Marex Group PLC trades at the lower P/E: 16.9× against 29.3×. Marex Group PLC has the higher net margin (15.3% vs 9.70%) and the lower return on invested capital (0.00% vs 16.1%). Across the 18 metrics below, Marex Group PLC leads on 11 and Miami International Holdings, Inc. on 7.

Valuation

Metric MIAX MRX Capital Markets median
P/E 29.33 16.86 15.78
P/S 2.27 2.49 2.32
P/B 2.89 2.74 1.89
Price to free cash flow 13.81 2.23 6.25
EV/EBITDA 17.51 n/m 8.87
EV/Sales 1.79 (3.31) 2.28
Earnings yield 3.41% 5.93% (3.77%)
Free cash flow yield 7.24% 44.87% (1.49%)

Profitability

Metric MIAX MRX Capital Markets median
Gross margin 34.35% 100.00% 62.80%
Operating margin 7.92% 36.42% 0.00%
Net margin 9.70% 15.28% (0.55%)
Free cash flow margin 16.43% 0.00% 0.00%
Return on equity 18.75% 0.00% 0.00%
Return on assets 17.78% 0.00% 0.00%
Return on invested capital 16.10% 0.00% 0.00%

Growth

Metric MIAX MRX Capital Markets median
Revenue growth (TTM) — — 21.02%
EPS growth (last fiscal year) (173.17%) 41.91% —
Revenue growth, 5-year CAGR — — 18.16%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric MIAX MRX Capital Markets median
Debt to equity 0.00 4.96 0.08
Current ratio 2.61 1.09 1.51
Net debt to EBITDA (3.75) (12.17) (0.24)

Dividend

Metric MIAX MRX Capital Markets median
Dividend yield — — 2.20%
Payout ratio — — 0.00

Size

Metric MIAX MRX Capital Markets median
Market cap 3.54b 5.23b 724.58m

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