Miami International Holdings, Inc.
MIAX NYSE· Security Brokers, Dealers & Flotation Companies
Last close · Oct 23, 2026
$33.98
KIRA · Stoqly’s AI analyst, in plain words
- Miami International Holdings, Inc. had $1.4B of revenue in fiscal 2025, up 19.6% on the year before.
- Its operating margin was 6.7%, up 7.0 pts: of every 100 in sales, about 7 is left after running the business.
- Miami International Holdings, Inc. lost $70.0M in fiscal 2025.
- Free cash flow was $145M in fiscal 2025, 10.6% of revenue.
- Miami International Holdings, Inc. returned $21.8M to shareholders in fiscal 2025, 15% of free cash flow. The diluted share count fell 6.4%.
- Miami International Holdings, Inc. has $432M more cash than debt.
Market cap
$3.8B
P/E
34.0x
Revenue
$1.4B
Net income
−$70.0M
Free cash flow
$145M
Operating margin
6.7%
Miami International Holdings, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+19.6%
Yes. Sales grew 19.6% last year.
Does it make a profit?
−5.1%
No. It lost money last year.
Does profit turn into cash?
10.6%
Yes. 10.6% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
34.0x
One share costs 34.0 times its yearly profit per share.
What Miami International Holdings, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Legal name
- MIAMI INTERNATIONAL HOLDINGS, INC.
- CIK
- 0001438472
Miami International Holdings, Inc. · MIAX
Results and finances
The last 3 fiscal years. Amounts in USD.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Sales and profit | |||
| Revenue | $1.0B | $1.1B | $1.4B |
| Revenue growth | — | 9.5% | 19.6% |
| Gross margin | 22.3% | 24.2% | 31.6% |
| Operating margin | −0.3% | −0.2% | 6.7% |
| Net income | −$20.9M | $102M | −$70.0M |
| Net margin | −2.0% | 9.0% | −5.1% |
| Diluted EPS | −$0.37 | $1.39 | −$1.00 |
| Cash | |||
| Cash from operations | −$49.2M | $111M | $168M |
| Capital expenditure | $16.2M | $26.7M | $22.8M |
| Free cash flow | −$65.4M | $84.7M | $145M |
| FCF margin | −6.3% | 7.4% | 10.6% |
| Share buybacks | $3.3M | $12.4M | $21.8M |
| Share count change | — | 32.2% | −6.4% |
| Debt and strength | |||
| Cash and short-term investments | $59.3M | $150M | $434M |
| Debt incl. finance leases | — | $37.0M | $2.0M |
| Shareholders' equity | $164M | $368M | $881M |
| Net debt / EBITDA | — | −5.5x | −3.6x |
| Current ratio | — | 1.4x | 2.5x |
| Interest coverage | −0.2x | −0.2x | 7.1x |
| Returns and quality | |||
| Return on capital | — | −1.1% | 16.2% |
| Return on equity | −12.8% | 38.4% | −11.2% |
| Return on tangible equity | −928.4% | 49.4% | −10.8% |
| Piotroski F-score | — | — | 6 |
| Altman Z'' | — | −0.1 | 4.0 |
Insiders bought, 12 months
$0.7M
2 insiders
Insiders sold, 12 months
$79.3M
11 insiders
Of sales under plans
94%
$74.4M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Miami International Holdings, Inc. · MIAX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $33.98 a share, the company is worth $3.8B: 34.0 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001438472). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.