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Miami International Holdings, Inc. (MIAX)Earnings, Financials & Key Ratios
MIAX•NYSE•Banking & Credit
Price updated Jun 19, 2026
AboutMiami International Holdings, Inc., through its subsidiaries, operates various markets across options, futures, and cash equities. Its markets include options through MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire; U.S. equities through MIAX Pearl Equities; U.S. futures and options on futures through MIAX Futures; and international listings through BSX and TISE. The company also trades hard red spring wheat futures and options on MIAX Futures; offers clearing services for U.S. futures and options through MIAX Futures Clearing; and owns Dorman Trading, a full-service futures commission merchant provides execution and clearing services for introducing brokers, retail customers, institutional clients, and professional traders. Miami International Holdings, Inc. was incorporated in 2007 and is headquartered in Princeton, New JerseyShow more
- Net Interest Income-$3M+67.4%
- Total Revenue$1.36B+19.6%
- Net Income-$70M-168.6%
- Return on Equity-11.22%-129.2%
- Net Interest Margin-0.28%+74.8%
- Efficiency Ratio24.57%+0.6%
- ROA-6.27%-152.0%
- Equity / Assets69.95%+85.3%
- Book Value per Share12.62+172.6%
MIAX Key Insights
Miami International Holdings, Inc. (MIAX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Efficient operations: 24.6% efficiency ratio
- ✓Well capitalized: 70.0% equity/assets
- ✓Share count reduced 12.1% through buybacks
- ✓Diversified revenue: 99.3% from non-interest income
✗Weaknesses
- ✗Weak 3Y average ROE of 0.6%
- ✗Profits declining 17.0% over 5 years
- ✗Weak NIM of -0.3%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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MIAX Price & Volume
Miami International Holdings, Inc. (MIAX) stock price & volume — 10-year historical chart
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MIAX Growth Metrics
Miami International Holdings, Inc. (MIAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years24.7%
3 Years19.57%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM41.99%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-22.89%
Return on Capital
10 Years-5.11%
5 Years2.43%
3 Years0.81%
Last Year4%
MIAX Recent Earnings
Miami International Holdings, Inc. (MIAX) EPS & revenue vs analyst estimates — last 3 quarters
●Beat EPS 3/3 qtrs (100%)●Beat Revenue 3/3 qtrs (100%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.42+16.7%
$0.36
Rev
$129M+4.7%
$123M
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$0.52+26.8%
$0.41
Rev
$125M+3.2%
$121M
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$0.42+35.5%
$0.31
Rev
$340M+181.6%
$121M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.42vs $0.36+16.7% | $129Mvs $123M+4.7% |
| Q1 2026 | Feb 25, 2026 | $0.52vs $0.41+26.8% | $125Mvs $121M+3.2% |
| Q4 2025 | Nov 5, 2025 | $0.42vs $0.31+35.5% | $340Mvs $121M+181.6% |
Based on last 3 quarters of dataView full earnings history →
MIAX Peer Comparison
Miami International Holdings, Inc. (MIAX) competitors in Exchanges and Electronic Trading Venues — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CBOE | 26.09B | 249.10 | 23.91 | 15.13% | 23.33% | 22.99% | 0.33 | |
 NDAQ | 46.75B | 82.24 | 26.61 | 11.05% | 23.15% | 15.9% | 0.81 | |
 ICE | 75.83B | 133.88 | 23.20 | 7.46% | 26.14% | 11.57% | 0.70 | |
 CME | 89.39B | 246.38 | 22.08 | 6.37% | 62.77% | 15.25% | 0.13 | |
 MKTX | 4.28B | 120.33 | 18.07 | 3.82% | 35.34% | 24.02% | 0.25 | |
 TW | 21.2B | 99.49 | 26.32 | 18.92% | 40.25% | 12.35% | 0.04 | |
 IBKR | 42.78B | 96.00 | 43.24 | 9.83% | 9.62% | 5.18% | 0.00 | |
 SCHW | 160.66B | 91.70 | 19.68 | 6.45% | 33.26% | 25.42% | 0.63 |
Compare MIAX vs Peers
Miami International Holdings, Inc. (MIAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MIAX Income Statement
Miami International Holdings, Inc. (MIAX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
Net Interest Income | 0 | -19.3M | -21.32M | -16.21M | -10.65M | -3.47M | 4M |
NII Growth % | - | - | -10.44% | 23.95% | 34.31% | 67.4% | 372.71% |
Net Interest Margin % | 0% | -3.61% | -2.82% | -2.25% | -1.09% | -0.28% | 0.28% |
Interest Income | 0 | 0 | 600K | 2.66M | 3.3M | 9.41M | 12.51M |
Interest Expense | 0 | 19.3M | 21.92M | 18.88M | 13.95M | 12.89M | 8.5M |
Loan Loss Provision | 355.93M | 550.9M | 580.37M | 789.66M | 850.48M | 979.41M | 963.21M |
Non-Interest Income | 452.45M | 751.54M | 797.32M | 1.04B | 1.14B | 1.35B | 1.39B |
Non-Interest Income % | 100% | 100% | 99.92% | 99.74% | 99.71% | 99.31% | 99.11% |
Total Revenue | 452.45M▲ 0% | 751.54M▲ 66.1% | 797.92M▲ 6.2% | 1.04B▲ 30.5% | 1.14B▲ 9.5% | 1.36B▲ 19.6% | 1.41B▲ 0% |
Revenue Growth % | - | 66.1% | 6.17% | 30.47% | 9.52% | 19.65% | 72.85% |
Non-Interest Expense | 0 | 157.62M | 190.29M | 235.34M | 278.47M | 335.22M | 337.75M |
Efficiency Ratio | 0% | 20.97% | 23.85% | 22.61% | 24.43% | 24.57% | 24.01% |
Operating Income | -23.88M▲ 0% | 23.72M▲ 199.3% | 5.34M▼ 77.5% | -2.87M▼ 153.6% | -2.83M▲ 1.4% | 36.55M▲ 1393.9% | 97.23M▲ 0% |
Operating Margin % | -5.28% | 3.16% | 0.67% | -0.28% | -0.25% | 2.68% | 6.91% |
Operating Income Growth % | - | 199.35% | -77.47% | -153.63% | 1.43% | 1393.91% | - |
Pretax Income | -44.89M▲ 0% | -90.58M▼ 101.8% | 50.11M▲ 155.3% | -22.07M▼ 144.0% | 105.08M▲ 576.1% | -68.58M▼ 165.3% | 52.68M▲ 0% |
Pretax Margin % | -9.92% | -12.05% | 6.28% | -2.12% | 9.22% | -5.03% | 3.74% |
Income Tax | -12.82M | 2.98M | -7.22M | -697K | 3.1M | 1.45M | -68.94M |
Effective Tax Rate % | 28.56% | -3.29% | -14.41% | 3.16% | 2.95% | -2.11% | -130.86% |
Net Income | -31.89M▲ 0% | -93.41M▼ 192.9% | 57.55M▲ 161.6% | -20.89M▼ 136.3% | 102.12M▲ 588.9% | -70.03M▼ 168.6% | 121.61M▲ 0% |
Net Margin % | -7.05% | -12.43% | 7.21% | -2.01% | 8.96% | -5.13% | 8.65% |
Net Income Growth % | - | -192.94% | 161.61% | -136.3% | 588.86% | -168.57% | 41.99% |
Net Income (Continuing) | -32.07M | -93.56M | 57.33M | -21.37M | 101.99M | -70.03M | 121.61M |
EPS (Diluted) | -0.40▲ 0% | -1.18▼ 195.0% | 0.72▲ 161.0% | -0.26▼ 136.1% | 1.29▲ 596.2% | -1.00▼ 177.5% | 1.11▲ 0% |
EPS Growth % | - | -195% | 161.02% | -136.11% | 596.15% | -177.52% | -22.89% |
EPS (Basic) | -0.40 | -1.18 | 0.72 | -0.26 | 1.29 | -1.00 | - |
Diluted Shares Outstanding | 79.44M | 79.44M | 79.44M | 79.44M | 79.44M | 69.84M | 109.15M |
MIAX Balance Sheet
Miami International Holdings, Inc. (MIAX) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
Cash & Short Term Investments | 57.24M | 160.9M | 126.45M | 59.29M | 150.34M | 509.73M | 1.75B |
Cash & Due from Banks | 57.24M | 160.9M | 126.45M | 59.29M | 150.34M | 509.73M | 643.9M |
Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Investments | 0 | 11.59M | 16.63M | 35.59M | 31.02M | 30.31M | 37.77M |
Investments Growth % | - | - | 43.44% | 114.05% | -12.84% | -2.29% | -100.33% |
Long-Term Investments | 0 | 11.59M | 16.63M | 35.59M | 31.02M | 30.31M | 96.44M |
Accounts Receivables | 0 | 58.41M | 60.06M | 58.15M | 92.42M | 231.64M | 106.85M |
Goodwill & Intangibles | 0 | 145.22M | 170.35M | 194.16M | 200.59M | 269.32M | 231.12M |
Goodwill | 0 | 34.42M | 44.3M | 46.82M | 46.82M | 0 | 61.91M |
Intangible Assets | 0 | 110.8M | 126.05M | 147.34M | 153.77M | 269.32M | 169.21M |
PP&E (Net) | 43.44M | 39.57M | 45.24M | 44.58M | 52.67M | 46.85M | 53.46M |
Other Assets | -208.91M | 25.2M | 44.42M | 59.33M | 116.55M | 171.57M | 162.09M |
Total Current Assets | 0 | 313.69M | 478.73M | 386.18M | 572.82M | 741.37M | 900.06M |
Total Non-Current Assets | 0 | 221.58M | 276.64M | 333.66M | 400.83M | 518.05M | 544.12M |
Total Assets | 414.01M▲ 0% | 535.27M▲ 29.3% | 755.37M▲ 41.1% | 719.84M▼ 4.7% | 973.65M▲ 35.3% | 1.26B▲ 29.4% | 1.44B▲ 0% |
Asset Growth % | - | 29.29% | 41.12% | -4.7% | 35.26% | 29.35% | 133.06% |
Return on Assets (ROA) | -7.7% | -19.68% | 8.92% | -2.83% | 12.06% | -6.27% | 9.83% |
Accounts Payable | 0 | 5.64M | 114.34M | 141.72M | 165.45M | 0 | 0 |
Total Debt | 103.41M | 166.67M | 151.91M | 123.04M | 43.81M | 1.51M | 1.51M |
Net Debt | 46.17M | 5.77M | 25.46M | 63.74M | -106.53M | -508.22M | -642.39M |
Long-Term Debt | 86.24M | 149.08M | 115.5M | 6.18M | 32.27M | 0 | 0 |
Short-Term Debt | 14.58M | 15M | 32M | 112.24M | 4.77M | 1.51M | 1.51M |
Other Liabilities | -130.81M | 302.77M | 238.22M | 93.36M | 157.78M | 344.94M | 355.85M |
Total Current Liabilities | 0 | 185.78M | 393.31M | 448.94M | 405.22M | 1.51M | 1.51M |
Total Non-Current Liabilities | 0 | 463.04M | 362.17M | 107.12M | 200.81M | 376.9M | 377.11M |
Total Liabilities | 475.6M | 648.82M | 755.48M | 556.06M | 606.03M | 378.41M | 378.62M |
Total Equity | -61.59M▲ 0% | -113.54M▼ 84.4% | -107K▲ 99.9% | 163.78M▲ 153166.4% | 367.62M▲ 124.5% | 881.02M▲ 139.7% | 1.07B▲ 0% |
Equity Growth % | - | -84.36% | 99.91% | 153166.36% | 124.46% | 139.66% | 476% |
Equity / Assets (Capital Ratio) | -14.88% | -21.21% | -0.01% | 22.75% | 37.76% | 69.95% | 73.78% |
Return on Equity (ROE) | - | - | - | -25.53% | 38.44% | -11.22% | 15.22% |
Book Value per Share | -0.78 | -1.43 | -0.00 | 2.06 | 4.63 | 12.62 | 9.76 |
Tangible BV per Share | -0.78 | -3.26 | -2.15 | -0.38 | 2.10 | 8.76 | 7.64 |
Common Stock | 84K | 89K | 95K | 57K | 63K | 86K | 95K |
Additional Paid-in Capital | 550.08M | 591.68M | 647.78M | 833.08M | 930.64M | 1.52B | 1.54B |
Retained Earnings | -611.75M | -705.16M | -647.61M | -668.5M | -562.31M | -632.34M | -462.12M |
Accumulated OCI | 0 | 0 | 0 | 0 | 0 | -641K | -2.36M |
Treasury Stock | 0 | 0 | 0 | 0 | -775K | -8.23M | -14.54M |
Preferred Stock | 1K | 1K | 2K | 1K | 1K | 0 | 0 |
MIAX Cash Flow Statement
Miami International Holdings, Inc. (MIAX) cash flow — operating, investing & free cash flow history
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|
Cash from Operations | 120.34M | 24.23M | 121.63M | -49.2M | 111.44M | 167.83M | 156.64M |
Operating CF Growth % | - | -79.87% | 401.99% | -140.45% | 326.53% | 50.61% | 79.85% |
Net Income | -31.89M | -93.56M | 57.33M | -21.37M | 101.99M | -70.03M | 121.61M |
Depreciation & Amortization | 17.36M | 21.06M | 20.28M | 21.03M | 23.37M | 3.02M | 31.3M |
Deferred Taxes | 0 | 410K | -7.19M | -864K | 3.19M | 474K | 10K |
Other Non-Cash Items | 45.32M | 102M | -50.29M | 18.34M | -52.4M | 206.89M | -20M |
Working Capital Changes | 89.55M | -23.79M | 79.18M | -96.36M | -8.34M | -30.09M | -5.38M |
Cash from Investing | -24.98M | 320K | -53.93M | -64.14M | -40.59M | -101.33M | -93.18M |
Purchase of Investments | -7.12M | -4.84M | -9.65M | -18.37M | -1.58M | -10M | -10M |
Sale/Maturity of Investments | 0 | 23.22M | 0 | 0 | 0 | 0 | 0 |
Net Investment Activity | -7.12M | 18.38M | -9.65M | -18.37M | -1.58M | -10M | -10M |
Acquisitions | -717K | 0 | -24.25M | -19.88M | 0 | -56.46M | -56.46M |
Other Investing | 738K | 0 | 0 | 0 | 0 | -12.08M | 0 |
Cash from Financing | 12.07M | 92.11M | -9.35M | -16.62M | 29.41M | 214.77M | 216.68M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | -21.83M | 0 |
Stock Issued | 14.24M | 21.84M | 9.57M | 16.44M | 10.04M | 377.96M | 729.33M |
Net Stock Activity | 14.24M | 21.84M | 9.57M | 16.44M | 10.04M | 356.13M | 729.33M |
Debt Issuance (Net) | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -3M |
Other Financing | -76K | -352K | -1.38M | -2.41M | 41.36M | 0 | -1.57M |
Net Change in Cash | 57.24M▲ 0% | 116.66M▲ 103.8% | 58.35M▼ 50.0% | -129.96M▼ 322.7% | 100.26M▲ 177.1% | 262.19M▲ 161.5% | 367.51M▲ 0% |
Exchange Rate Effect | -50.2M | 0 | 0 | 0 | 0 | -19.09M | 87.37M |
Cash at Beginning | 0 | 131.09M | 247.74M | 306.09M | 176.14M | 275.16M | 537.35M |
Cash at End | 57.24M | 247.74M | 306.09M | 176.14M | 276.4M | 537.35M | 643.9M |
Interest Paid | 0 | 15.52M | 18.57M | 16.84M | 12.62M | 0 | 1.78M |
Income Taxes Paid | 0 | 350K | 2.52M | 602K | 457K | 0 | 157K |
Free Cash Flow | 112.69M▲ 0% | 6.17M▼ 94.5% | 101.6M▲ 1546.4% | -75.09M▼ 173.9% | 72.43M▲ 196.5% | 145.04M▲ 100.2% | 139.22M▲ 0% |
FCF Growth % | - | -94.52% | 1546.36% | -173.91% | 196.46% | 100.25% | 183.18% |
MIAX Banking Ratios
Miami International Holdings, Inc. (MIAX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
Return on Equity (ROE) | - | - | -25.53% | 38.44% | -11.22% | 15.22% |
Return on Assets (ROA) | -19.68% | 8.92% | -2.83% | 12.06% | -6.27% | 9.83% |
Net Interest Margin | -3.61% | -2.82% | -2.25% | -1.09% | -0.28% | 0.28% |
Efficiency Ratio | 20.97% | 23.85% | 22.61% | 24.43% | 24.57% | 24.01% |
Equity / Assets | -21.21% | -0.01% | 22.75% | 37.76% | 69.95% | 73.78% |
Book Value / Share | -1.43 | -0 | 2.06 | 4.63 | 12.62 | 9.76 |
NII Growth | - | -10.44% | 23.95% | 34.31% | 67.4% | 131.03% |
Dividend Payout | - | - | - | - | - | 0% |
Related:MIAX Dividend History·MIAX Revenue History·MIAX Price History·MIAX P/E History·MIAX Financial Ratios·MIAX Institutional Holders
MIAX SEC Filings & Documents
Miami International Holdings, Inc. (MIAX) SEC filings — annual & quarterly reports (10-K, 10-Q)
MIAX Frequently Asked Questions
Miami International Holdings, Inc. (MIAX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Miami International Holdings, Inc. (MIAX) grew revenue by 19.6% over the past year. This is strong growth.
Yes, Miami International Holdings, Inc. (MIAX) is profitable, generating $121.6M in net income for fiscal year 2025 (-5.1% net margin).
Dividend & Returns
Miami International Holdings, Inc. (MIAX) has a return on equity (ROE) of -11.2%. Negative ROE indicates the company is unprofitable.
Industry Metrics
Miami International Holdings, Inc. (MIAX) has a net interest margin (NIM) of -0.3%. NIM has been under pressure due to interest rate environment.
Miami International Holdings, Inc. (MIAX) has an efficiency ratio of 24.6%. This is excellent, indicating strong cost control.