MIAX vs CBOE

For growth investors, Miami International Holdings, Inc.

(MIAX) is the stronger pick with 19. 6% revenue growth year-over-year, versus 15. 1% for Cboe Global Markets, Inc. (CBOE). Cboe Global Markets, Inc. (CBOE) offers the better valuation at 32. 5x trailing P/E (27. 0x forward), making it the more compelling value choice. Analysts rate Miami International Holdings, Inc. (MIAX) a "Buy" — based on 5 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On forward P/E, Cboe Global Markets, Inc.

is actually cheaper at 27. 0x.

Over the past 5 years, Cboe Global Markets, Inc.

(CBOE) delivered a total return of +223. 7%, compared to +61. 8% for Miami International Holdings, Inc. (MIAX). Over 10 years, the gap is even starker: CBOE returned +463. 6% versus MIAX's +61. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Cboe Global Markets, Inc.

(CBOE) is the lower-risk stock at -0. 27β versus Miami International Holdings, Inc. 's 0. 62β — meaning MIAX is approximately -327% more volatile than CBOE relative to the S&P 500. On balance sheet safety, Miami International Holdings, Inc. (MIAX) carries a lower debt/equity ratio of 0% versus 33% for Cboe Global Markets, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Miami International Holdings, Inc.

(MIAX) is pulling ahead at 19. 6% versus 15. 1% for Cboe Global Markets, Inc. (CBOE). On earnings-per-share growth, the picture is similar: Cboe Global Markets, Inc. grew EPS 44. 5% year-over-year, compared to -177. 5% for Miami International Holdings, Inc. . Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Cboe Global Markets, Inc.

(CBOE) is the more profitable company, earning 23. 3% net margin versus -5. 1% for Miami International Holdings, Inc. — meaning it keeps 23. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CBOE leads at 32. 1% versus 2. 7% for MIAX. At the gross margin level — before operating expenses — CBOE leads at 48. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Cboe Global Markets, Inc.

(CBOE) trades at 27. 0x forward P/E versus 34. 4x for Miami International Holdings, Inc. — 7. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MIAX: 2. 5% to $51. 00.

In this comparison, CBOE (0.

8% yield) pays a dividend. MIAX does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Cboe Global Markets, Inc.

(CBOE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 27), 0. 8% yield, +463. 6% 10Y return). Both have compounded well over 10 years (CBOE: +463. 6%, MIAX: +61. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

CBOE pays a dividend while MIAX does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.