Comprehensive Stock Comparison
Compare MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) vs JPMorgan Chase & Co. (JPM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | JPM | 14.6% revenue growth vs MIAX's 9.5% |
| Value | JPM | Lower P/E (13.9x vs 31.0x) |
| Quality / Margins | JPM | 21.6% net margin vs MIAX's 9.0% |
| Stability / Safety | MIAX | Beta 0.35 vs JPM's 1.00, lower leverage |
| Dividends | JPM | 1.7% yield; 14-year raise streak; MIAX pays no meaningful dividend |
| Momentum (1Y) | MIAX | +38.6% vs JPM's +15.7% |
| Efficiency (ROA) | JPM | 1.3% ROA vs MIAX's -7.9%, ROIC 5.4% vs -0.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Miami International Holdings operates a network of electronic exchanges for options, futures, and equities trading. It generates revenue primarily from transaction fees — including exchange, clearing, and market data fees — across its various market segments. The company's competitive advantage lies in its multi-asset exchange ecosystem, which creates network effects and cross-selling opportunities among its interconnected trading venues.
JPMorgan Chase is a global financial services giant that operates as a universal bank offering consumer banking, investment banking, commercial banking, and asset management services. It generates revenue primarily through net interest income from lending activities (about 50% of total revenue) and non-interest income from investment banking fees, trading, asset management, and card services. The company's key competitive advantage lies in its massive scale, diversified revenue streams, and fortress balance sheet—which together create significant barriers to entry and provide stability through economic cycles.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
JPM leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
JPM is the larger business by revenue, generating $270.8B annually — 237.5x MIAX's $1.1B. JPM is the more profitable business, keeping 21.6% of every revenue dollar as net income compared to MIAX's 9.0%.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| RevenueTrailing 12 months | $1.1B | $270.8B |
| EBITDAEarnings before interest/tax | $84M | $81.3B |
| Net IncomeAfter-tax profit | -$97M | $58.0B |
| Free Cash FlowCash after capex | $129M | -$119.7B |
| Gross MarginGross profit ÷ Revenue | +24.2% | +58.6% |
| Operating MarginEBIT ÷ Revenue | -0.2% | +27.7% |
| Net MarginNet income ÷ Revenue | +9.0% | +21.6% |
| FCF MarginFCF ÷ Revenue | +6.4% | -15.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -35.2% | +16.0% |
Valuation Metrics
At 15.2x trailing earnings, JPM trades at a 54% valuation discount to MIAX's 33.0x P/E. On an enterprise value basis, JPM's 13.1x EV/EBITDA is more attractive than MIAX's 180.2x.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| Market CapShares × price | $3.8B | $809.7B |
| Enterprise ValueMkt cap + debt − cash | $3.7B | $1.09T |
| Trailing P/EPrice ÷ TTM EPS | 33.02x | 15.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 30.97x | 13.93x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.17x |
| EV / EBITDAEnterprise value multiple | 180.16x | 13.15x |
| Price / SalesMarket cap ÷ Revenue | 3.34x | 2.99x |
| Price / BookPrice ÷ Book value/share | 9.21x | 2.51x |
| Price / FCFMarket cap ÷ FCF | 52.58x | — |
Profitability & Efficiency
JPM delivers a 16.1% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $-12 for MIAX. MIAX carries lower financial leverage with a 0.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to JPM's 2.18x. On the Piotroski fundamental quality scale (0–9), MIAX scores 8/9 vs JPM's 5/9, reflecting strong financial health.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| ROE (TTM)Return on equity | -11.7% | +16.1% |
| ROA (TTM)Return on assets | -7.9% | +1.3% |
| ROICReturn on invested capital | -0.6% | +5.4% |
| ROCEReturn on capital employed | -0.7% | +8.2% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 5 |
| Debt / EquityFinancial leverage | 0.12x | 2.18x |
| Net DebtTotal debt minus cash | -$107M | $281.8B |
| Cash & Equiv.Liquid assets | $150M | $469.3B |
| Total DebtShort + long-term debt | $44M | $751.1B |
| Interest CoverageEBIT ÷ Interest expense | -4.03x | 0.74x |
Total Returns (with DRIP)
A $10,000 investment in JPM five years ago would be worth $21,449 today (with dividends reinvested), compared to $13,858 for MIAX. Over the past 12 months, MIAX leads with a +38.6% total return vs JPM's +15.7%. The 3-year compound annual growth rate (CAGR) favors JPM at 30.0% vs MIAX's 11.5% — a key indicator of consistent wealth creation.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| YTD ReturnYear-to-date | -2.4% | -7.3% |
| 1-Year ReturnPast 12 months | +38.6% | +15.7% |
| 3-Year ReturnCumulative with dividends | +38.6% | +119.7% |
| 5-Year ReturnCumulative with dividends | +38.6% | +114.5% |
| 10-Year ReturnCumulative with dividends | +38.6% | +497.7% |
| CAGR (3Y)Annualised 3-year return | +11.5% | +30.0% |
Risk & Volatility
MIAX is the less volatile stock with a 0.35 beta — it tends to amplify market swings less than JPM's 1.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JPM currently trades 89.0% from its 52-week high vs MIAX's 82.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.35x | 1.00x |
| 52-Week HighHighest price in past year | $51.38 | $337.25 |
| 52-Week LowLowest price in past year | $28.63 | $202.16 |
| % of 52W HighCurrent price vs 52-week peak | +82.9% | +89.0% |
| RSI (14)Momentum oscillator 0–100 | 51.6 | 48.1 |
| Avg Volume (50D)Average daily shares traded | 924K | 9.0M |
Analyst Outlook
Wall Street rates MIAX as "Buy" and JPM as "Buy". Consensus price targets imply 17.4% upside for MIAX (target: $50) vs 11.9% for JPM (target: $336). JPM is the only dividend payer here at 1.71% yield — a key consideration for income-focused portfolios.
| Metric | MIAXMIAMI INTERNATION… | JPMJPMorgan Chase & … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $50.00 | $336.10 |
| # AnalystsCovering analysts | 5 | 60 |
| Dividend YieldAnnual dividend ÷ price | — | +1.7% |
| Dividend StreakConsecutive years of raises | — | 14 |
| Dividend / ShareAnnual DPS | — | $5.13 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +3.5% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| MIAMI INTERNATIONAL… (MIAX) | $452M | $1.1B | +152.0% |
| JPMorgan Chase & Co. (JPM) | $101.0B | $270.8B | +168.1% |
JPMorgan Chase & Co.'s revenue grew from $101.0B (2015) to $270.8B (2024) — a 11.6% CAGR.
Chart 2Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| MIAMI INTERNATIONAL… (MIAX) | -7.0% | 9.0% | +227.1% |
| JPMorgan Chase & Co. (JPM) | 24.2% | 21.6% | -10.8% |
JPMorgan Chase & Co.'s net margin went from 24% (2015) to 22% (2024).
Chart 3P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | 16.9 | 12.1 | -28.4% |
JPMorgan Chase & Co. has traded in a 10x–17x P/E range over 8 years; current trailing P/E is ~15x.
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| MIAMI INTERNATIONAL… (MIAX) | -0.4 | 1.29 | +422.5% |
| JPMorgan Chase & Co. (JPM) | 6 | 19.75 | +229.2% |
JPMorgan Chase & Co.'s EPS grew from $6.00 (2015) to $19.75 (2024) — a 14% CAGR.
Chart 5Free Cash Flow — 5 Years
MIAMI INTERNATIONAL HOLDINGS, INC. generated $72M FCF in 2024 (+1074% vs 2021). JPMorgan Chase & Co. generated $-42B FCF in 2024 (-154% vs 2021).
MIAX vs JPM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is MIAX or JPM a better buy right now?
JPMorgan Chase & Co. (JPM) offers the better valuation at 15.2x trailing P/E (13.9x 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.
02Which has the better valuation — MIAX or JPM?
On trailing P/E, JPMorgan Chase & Co. (JPM) is the cheapest at 15.2x versus MIAMI INTERNATIONAL HOLDINGS, INC. at 33.0x. On forward P/E, JPMorgan Chase & Co. is actually cheaper at 13.9x.
03Which is the better long-term investment — MIAX or JPM?
Over the past 5 years, JPMorgan Chase & Co. (JPM) delivered a total return of +114.5%, compared to +38.6% for MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX). A $10,000 investment in JPM five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: JPM returned +497.7% versus MIAX's +38.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MIAX or JPM?
By beta (market sensitivity over 5 years), MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) is the lower-risk stock at 0.35β versus JPMorgan Chase & Co.'s 1.00β — meaning JPM is approximately 188% more volatile than MIAX relative to the S&P 500. On balance sheet safety, MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) carries a lower debt/equity ratio of 12% versus 2% for JPMorgan Chase & Co. — giving it more financial flexibility in a downturn.
05Which has better profit margins — MIAX or JPM?
JPMorgan Chase & Co. (JPM) is the more profitable company, earning 21.6% net margin versus 9.0% for MIAMI INTERNATIONAL HOLDINGS, INC. — meaning it keeps 21.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: JPM leads at 27.7% versus -0.2% for MIAX. At the gross margin level — before operating expenses — JPM leads at 58.6%, 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.
06Is MIAX or JPM more undervalued right now?
On forward earnings alone, JPMorgan Chase & Co. (JPM) trades at 13.9x forward P/E versus 31.0x for MIAMI INTERNATIONAL HOLDINGS, INC. — 17.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MIAX: 17.4% to $50.00.
07Which pays a better dividend — MIAX or JPM?
In this comparison, JPM (1.7% yield) pays a dividend. MIAX does not pay a meaningful dividend and should not be held primarily for income.
08Is MIAX or JPM better for a retirement portfolio?
For long-horizon retirement investors, JPMorgan Chase & Co. (JPM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.00), 1.7% yield, +497.7% 10Y return). Both have compounded well over 10 years (JPM: +497.7%, MIAX: +38.6%), 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.
09What are the main differences between MIAX and JPM?
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. In terms of investment character: MIAX is a small-cap quality compounder stock; JPM is a large-cap deep-value stock. JPM 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.
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