Marex Group plc Ordinary Shares (MRX) Financial Ratios
13 years of historical data (2013–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
↓
6.28
+1% vs avg
5yr avg: 6.23
30Y Low5.6·High6.9
P/FCF
↑
5.70
↑+75% vs avg
5yr avg: 3.26
30Y Low2.1·High4.5
P/B Ratio
↓
3.13
↑+33% vs avg
5yr avg: 2.36
30Y Low2.3·High2.4
ROE
↑
27.5%
↓+40% vs avg
5yr avg: 19.6%
30Y Low-2%·High28%
Debt/EBITDA
↓
8.50
↓-29% vs avg
5yr avg: 11.95
30Y Low7.1·High20.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MRX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Marex Group plc Ordinary Shares trades at 13.4x earnings, 25% above its 5-year average of 10.7x, sitting at the 100th percentile of its historical range. This is roughly in line with the Financial Services sector median P/E of 13.1x. On a free-cash-flow basis, the stock trades at 5.7x P/FCF, 75% above the 5-year average of 3.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $2.9B | $2.3B | — | — | — | — | — | — | — | — |
| Enterprise Value | $7.5B | $6.7B | $5.9B | — | — | — | — | — | — | — | — |
| P/E Ratio → | 13.41 | 9.91 | 11.46 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.03 | 0.80 | 0.81 | — | — | — | — | — | — | — | — |
| P/B Ratio | 3.13 | 2.31 | 2.40 | — | — | — | — | — | — | — | — |
| P/FCF | 5.70 | 4.46 | 2.05 | — | — | — | — | — | — | — | — |
| P/OCF | 5.59 | 4.37 | 2.02 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
MRX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Marex Group plc Ordinary Shares's enterprise value stands at 6.3x EBITDA, roughly in line with its 5-year average of 6.2x. The Financial Services sector median is 11.5x, placing the stock at a 45% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.85 | 2.05 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 6.28 | 5.61 | 6.85 | — | — | — | — | — | — | — | — |
| EV / EBIT | 6.48 | 5.73 | 7.11 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 10.25 | 5.19 | — | — | — | — | — | — | — | — |
MRX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Marex Group plc Ordinary Shares earns an operating margin of 32.0%, above the Financial Services sector average of 21.6%. Operating margins have expanded from 29.1% to 32.0% over the past 3 years, signaling improving operational efficiency. ROE of 27.5% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 9.4% represents adequate 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.7% | 74.7% | 44.5% | 72.0% | 73.4% | 96.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 32.0% | 32.0% | 28.9% | 29.1% | 23.0% | 8.1% | 7.5% | 2.2% | 11.8% | 7.9% | 8.0% |
| Net Profit Margin | 8.5% | 8.5% | 7.5% | 5.4% | 7.8% | 6.6% | 5.8% | 6.6% | 2.6% | 5.5% | 6.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.5% | 27.5% | 24.9% | 17.6% | 15.9% | 12.3% | 10.2% | 9.1% | 2.7% | 4.7% | 5.5% |
| ROA | 1.0% | 1.0% | 1.0% | 0.8% | 0.9% | 1.3% | 1.4% | 1.8% | 0.8% | 1.6% | 1.8% |
| ROIC | 9.4% | 9.4% | 9.4% | 8.2% | 5.0% | 4.2% | 7.6% | 2.3% | 9.0% | 5.1% | 5.3% |
| ROCE | 7.9% | 7.9% | 39.3% | 47.0% | 29.8% | 3.2% | 1.8% | 0.6% | 3.6% | 2.3% | 2.3% |
MRX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Marex Group plc Ordinary Shares carries a Debt/EBITDA ratio of 8.5x, which is highly leveraged (105% above the sector average of 4.1x). Net debt stands at $3.8B ($10.2B total debt minus $6.4B cash). Interest coverage of just 1.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 8.05 | 8.05 | 6.28 | 6.94 | 8.45 | 2.70 | 0.56 | 0.03 | — | — | — |
| Debt / EBITDA | 8.50 | 8.50 | 7.10 | 7.64 | 20.15 | 16.35 | 12.24 | — | — | — | — |
| Net Debt / Equity | — | 3.00 | 3.67 | 5.03 | 7.11 | 1.21 | -0.10 | -0.49 | -0.42 | -0.24 | -0.50 |
| Net Debt / EBITDA | 3.17 | 3.17 | 4.14 | 5.53 | 16.95 | 7.33 | -2.22 | — | -3.55 | -3.53 | -7.15 |
| Debt / FCF | — | 5.79 | 3.13 | 5.40 | 22.29 | 1.25 | — | — | -1.24 | — | -6.52 |
| Interest Coverage | 1.54 | 1.54 | 1.55 | 1.45 | 1.64 | 3.65 | — | — | — | — | — |
MRX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Marex Group plc Ordinary Shares's current ratio of 3.16x 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 1.07x to 3.16x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.16 | 3.16 | 1.09 | 1.07 | 1.05 | 0.89 | 2.38 | 2.58 | — | — | — |
| Quick Ratio | 3.16 | 3.16 | 1.09 | 1.07 | 1.05 | 0.89 | 2.38 | 2.58 | — | — | — |
| Cash Ratio | 0.82 | 0.82 | 0.12 | 0.09 | 0.06 | 0.15 | 2.38 | 2.58 | — | — | — |
| Asset Turnover | — | 0.10 | 0.12 | 0.13 | 0.07 | 0.16 | 0.20 | 0.21 | 0.28 | 0.29 | 0.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MRX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Marex Group plc Ordinary Shares returns 2.6% to shareholders annually — split between a 1.4% dividend yield and 1.2% buyback yield. The earnings yield of 7.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.9% | 3.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | 35.4% | 45.5% | 7.2% | 35.4% | 41.5% | — | — | 114.3% | 97.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.5% | 10.1% | 8.7% | — | — | — | — | — | — | — | — |
| FCF Yield | 17.5% | 22.4% | 48.7% | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.2% | 1.5% | 0.8% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.6% | 3.4% | 4.1% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $76M | $75M | $72M | $71M | $71M | $61M | $61M | $61M | $61M | $61M |
Peer Comparison
Compare MRX 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 |
|---|---|---|---|---|---|---|---|---|---|
 MRXYou | $4B | 13.4 | 6.3 | 5.7 | 74.7% | 32.0% | 27.5% | 9.4% | 8.5 |
 VIRT | $4B | 9.7 | 9.1 | 3.3 | 48.0% | 33.8% | 27.1% | 10.1% | 6.7 |
 MKTX | $5B | 22.9 | 12.0 | 14.5 | 69.9% | 41.2% | 19.4% | 18.1% | 0.7 |
 PIPR | $6B | 20.3 | 12.2 | 8.2 | 93.6% | 20.2% | 18.8% | 18.0% | 0.3 |
 LPLA | $25B | 28.4 | 10.7 | — | 25.6% | 13.4% | 20.9% | 16.1% | 2.5 |
 IBKR | $37B | 37.7 | 3.6 | 2.4 | 89.8% | 86.0% | 5.3% | 24.7% | 0.0 |
 GS | $288B | 22.8 | 34.8 | — | 41.1% | 14.5% | 12.0% | 1.9% | 29.7 |
 MS | $303B | 23.9 | 25.8 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
 JEF | $11B | 18.2 | -1.9 | 31.9 | 59.7% | 6.3% | 6.8% | 2.4% | 2.0 |
 SF | $12B | 13.0 | 12.5 | 9.8 | 86.6% | 13.8% | 11.7% | 7.9% | 2.3 |
 HOOD | $69B | 37.2 | 36.6 | 42.3 | 83.3% | 46.8% | 22.0% | 7.9% | 7.1 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
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Start ComparisonMRX — Frequently Asked Questions
Quick answers to the most common questions about buying MRX stock.
What is Marex Group plc Ordinary Shares's P/E ratio?
Marex Group plc Ordinary Shares's current P/E ratio is 13.4x. The historical average is 10.7x. This places it at the 100th percentile of its historical range.
What is Marex Group plc Ordinary Shares's EV/EBITDA?
Marex Group plc Ordinary Shares's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.2x.
What is Marex Group plc Ordinary Shares's ROE?
Marex Group plc Ordinary Shares's return on equity (ROE) is 27.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.7%.
Is MRX stock overvalued?
Based on historical data, Marex Group plc Ordinary Shares is trading at a P/E of 13.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Marex Group plc Ordinary Shares's dividend yield?
Marex Group plc Ordinary Shares's current dividend yield is 1.41%.
What are Marex Group plc Ordinary Shares's profit margins?
Marex Group plc Ordinary Shares has 74.7% gross margin and 32.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Marex Group plc Ordinary Shares have?
Marex Group plc Ordinary Shares's Debt/EBITDA ratio is 8.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.