Miami International Holdings, Inc. (MIAX) Financial Ratios
6 years of historical data (2020–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
61.43
↑+56% vs avg
5yr avg: 39.30
30Y Low39.3·High39.3
P/FCF
31.43
↑+47% vs avg
5yr avg: 21.37
30Y Low21.4·High21.4
P/B Ratio
3.94
+12% vs avg
5yr avg: 3.52
30Y Low3.5·High3.5
ROE
↑
-11.2%
↑-2088% vs avg
5yr avg: 0.6%
30Y Low-26%·High38%
Debt/EBITDA
↓
0.02
↓-99% vs avg
5yr avg: 3.72
30Y Low0.0·High6.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MIAX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Miami International Holdings, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 31.4x P/FCF, 47% above the 5-year average of 21.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $4.6B | $3.1B | — | — | — | — | — |
| Enterprise Value | $4.1B | $2.6B | — | — | — | — | — |
| P/E Ratio → | -49.74 | — | — | — | — | — | — |
| P/S Ratio | 3.34 | 2.27 | — | — | — | — | — |
| P/B Ratio | 3.94 | 3.52 | — | — | — | — | — |
| P/FCF | 31.43 | 21.37 | — | — | — | — | — |
| P/OCF | 27.16 | 18.47 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
MIAX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Miami International Holdings, Inc. 's enterprise value stands at 61.4x EBITDA, 56% above its 5-year average of 39.3x. The Financial Services sector median is 11.5x, placing the stock at a 436% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.90 | — | — | — | — | — |
| EV / EBITDA | 61.43 | 39.30 | — | — | — | — | — |
| EV / EBIT | 110.81 | — | — | — | — | — | — |
| EV / FCF | — | 17.86 | — | — | — | — | — |
MIAX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Miami International Holdings, Inc. earns an operating margin of 2.7%, below the Financial Services sector average of 21.6%. Operating margins have expanded from -0.3% to 2.7% over the past 3 years, signaling improving operational efficiency. A negative ROE of -11.2% indicates the company is currently destroying shareholder equity. ROIC of 4.2% represents below-average returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 27.3% | 27.3% | 24.2% | 22.3% | 24.5% | 24.1% | 21.3% |
| Operating Margin | 2.7% | 2.7% | -0.2% | -0.3% | 0.7% | 3.2% | -5.3% |
| Net Profit Margin | -5.1% | -5.1% | 9.0% | -2.0% | 7.2% | -12.4% | -7.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -11.2% | -11.2% | 38.4% | -25.5% | — | — | — |
| ROA | -6.3% | -6.3% | 12.1% | -2.8% | 8.9% | -19.7% | -7.7% |
| ROIC | 4.2% | 4.2% | -0.6% | -1.0% | 3.9% | 37.5% | -42.8% |
| ROCE | 4.0% | 4.0% | -0.7% | -0.9% | 1.5% | 8.2% | — |
MIAX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Miami International Holdings, Inc. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 4.1x). The company holds a net cash position — cash of $510M exceeds total debt of $2M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.12 | 0.75 | — | — | — |
| Debt / EBITDA | 0.02 | 0.02 | 2.13 | 6.77 | 5.93 | 3.72 | — |
| Net Debt / Equity | — | -0.58 | -0.29 | 0.39 | — | — | — |
| Net Debt / EBITDA | -7.71 | -7.71 | -5.18 | 3.51 | 0.99 | 0.13 | — |
| Debt / FCF | — | -3.50 | -1.47 | — | 0.25 | 0.94 | 0.41 |
| Interest Coverage | -4.32 | -4.32 | 8.53 | -0.17 | 3.29 | -3.69 | — |
Net cash position: cash ($510M) exceeds total debt ($2M)
MIAX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Miami International Holdings, Inc. 's current ratio of 491.63x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.86x to 491.63x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 491.63 | 491.63 | 1.41 | 0.86 | 1.22 | 1.69 | — |
| Quick Ratio | 491.63 | 491.63 | 1.41 | 0.86 | 1.22 | 1.69 | — |
| Cash Ratio | 338.02 | 338.02 | 0.37 | 0.13 | 0.32 | 0.87 | — |
| Asset Turnover | — | 1.08 | 1.17 | 1.45 | 1.06 | 1.40 | 1.09 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — |
MIAX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Miami International Holdings, Inc. returns 0.5% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | 3.2% | 4.7% | — | — | — | — | — |
| Buyback Yield | 0.5% | 0.7% | — | — | — | — | — |
| Total Shareholder Yield | 0.5% | 0.7% | — | — | — | — | — |
| Shares Outstanding | — | $70M | $79M | $79M | $79M | $79M | $79M |
Peer Comparison
Compare MIAX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MIAXYou | $5B | -49.7 | 61.4 | 31.4 | 27.3% | 2.7% | -11.2% | 4.2% | 0.0 |
 CBOE | $35B | 32.5 | 21.4 | 30.8 | 48.9% | 32.1% | 23.4% | 17.9% | 1.0 |
 NDAQ | $51B | 28.8 | 20.1 | 25.4 | 47.9% | 28.4% | 15.3% | 8.1% | 3.3 |
 ICE | $88B | 27.1 | 16.7 | 20.6 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
 CME | $104B | 25.7 | 23.0 | 24.8 | 86.1% | 64.9% | 14.6% | 10.2% | 0.8 |
 MKTX | $5B | 22.9 | 12.0 | 14.5 | 69.9% | 41.2% | 19.4% | 18.1% | 0.7 |
 TW | $24B | 29.2 | 19.8 | 20.9 | 67.3% | 41.2% | 12.0% | 9.1% | 0.3 |
 IBKR | $37B | 37.7 | 3.6 | 2.4 | 89.8% | 86.0% | 5.3% | 24.7% | 0.0 |
 SCHW | $159B | 29.9 | 17.8 | 77.6 | 75.4% | 29.6% | 13.3% | 6.0% | 4.9 |
 MS | $303B | 23.9 | 25.8 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
 GS | $288B | 22.8 | 34.8 | — | 41.1% | 14.5% | 12.0% | 1.9% | 29.7 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 6 years · Updated daily
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Start ComparisonMIAX — Frequently Asked Questions
Quick answers to the most common questions about buying MIAX stock.
What is Miami International Holdings, Inc. 's P/E ratio?
Miami International Holdings, Inc. 's current P/E ratio is -49.7x. This places it at the 50th percentile of its historical range.
What is Miami International Holdings, Inc. 's EV/EBITDA?
Miami International Holdings, Inc. 's current EV/EBITDA is 61.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 39.3x.
What is Miami International Holdings, Inc. 's ROE?
Miami International Holdings, Inc. 's return on equity (ROE) is -11.2%. The historical average is 0.6%.
Is MIAX stock overvalued?
Based on historical data, Miami International Holdings, Inc. is trading at a P/E of -49.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Miami International Holdings, Inc. 's profit margins?
Miami International Holdings, Inc. has 27.3% gross margin and 2.7% operating margin.
How much debt does Miami International Holdings, Inc. have?
Miami International Holdings, Inc. 's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.