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Miami International Holdings, Inc. logo

Miami International Holdings, Inc.

MIAX

NYSEFinancial ServicesFinancial - Capital Markets

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Previous close

$42.59

+$1.27 · +3.07%

Aug 21, 4:00 PM ET

MIAX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

46

Fair Value

Momentum

36

Weakening

Sentiment

59

Mixed

Risk resilience

41

Elevated Risk

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Company profile

Company website

Miami International Holdings, Inc. (MIAX) is a financial services corporation that operates diverse marketplaces through its various subsidiaries, facilitating trading across options, futures, and cash equities. Its extensive options suite encompasses MIAX Options, MIAX Pearl, MIAX Emerald, and MIAX Sapphire. For U.S. equities, it provides MIAX Pearl Equities. The company's offerings extend to U.S. futures and their corresponding options traded on MIAX Futures, a platform that also facilitates transactions in hard red spring wheat products. Furthermore, MIAX supports international listings via BSX and TISE. Beyond market operation, MIAX also delivers essential post-trade services. This includes comprehensive clearing for U.S. futures and options through MIAX Futures Clearing, alongside its ownership of Dorman Trading. Dorman Trading, a full-service futures commission merchant, provides execution and clearing services for a broad client base, including introducing brokers, retail investors, institutional firms, and professional traders. Established in 2007, Miami International Holdings, Inc. maintains its headquarters in Princeton, New Jersey.

Industry
Financial - Capital Markets
Sector
Financial Services
Headquarters
US
CEO
Thomas Gallagher
Listed since
Aug 14, 2025
Employees
439

Market position

Day range

Current $42.59

52-week range

Current $42.59

Open
$41.62
Previous close
$41.32
Volume
954.01K
0.57× average
Average volume
1.68M
Average daily volume
Market cap
4.12B USD
Beta
1.66
Market reference 1
50-day average
$41.9824
+1.45% above average
200-day average
$43.5307
-2.16% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.59B USD
P/E (TTM)
22.78×
P/B (TTM)
3.53×
P/S (TTM)
2.81×
EV / EBITDA
-98.47×
Earnings yield
-2.26%
Free cash flow yield
4.68%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
33.24%
Operating margin
7.75%
Net margin
9.70%
Return on equity
-7.95%
Return on assets
-5.56%
Return on invested capital
2.90%

Financial health

Debt / equity
0×
Current ratio
491.63×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends31%15%-1%-16%Gross margin, FY2021: 24.13%Gross margin, FY2022: 24.52%Gross margin, FY2023: 22.33%Gross margin, FY2024: 24.18%Gross margin, FY2025: 27.25%Operating margin, FY2021: 3.16%Operating margin, FY2022: 0.67%Operating margin, FY2023: -0.28%Operating margin, FY2024: -0.25%Operating margin, FY2025: 2.68%Net margin, FY2021: -12.43%Net margin, FY2022: 7.21%Net margin, FY2023: -2.01%Net margin, FY2024: 8.96%Net margin, FY2025: -5.13%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 24.13%. Gross margin FY2022 24.52%. Gross margin FY2023 22.33%. Gross margin FY2024 24.18%. Gross margin FY2025 27.25%. Operating margin FY2021 3.16%. Operating margin FY2022 0.67%. Operating margin FY2023 -0.28%. Operating margin FY2024 -0.25%. Operating margin FY2025 2.68%. Net margin FY2021 -12.43%. Net margin FY2022 7.21%. Net margin FY2023 -2.01%. Net margin FY2024 8.96%. Net margin FY2025 -5.13%.

Income trends

Revenue

1.36B USD+19.65%

Operating income

36.55M USD+39.38M USD

Net income

−70.03M USD−172.15M USD
Income trends across reported periods1.51B USD926.83M USD343.84M USD−239.16M USDRevenue, FY2021: 751.54M USDRevenue, FY2022: 797.92M USDRevenue, FY2023: 1.04B USDRevenue, FY2024: 1.14B USDRevenue, FY2025: 1.36B USDOperating income, FY2021: 23.72M USDOperating income, FY2022: 5.34M USDOperating income, FY2023: −2.87M USDOperating income, FY2024: −2.83M USDOperating income, FY2025: 36.55M USDNet income, FY2021: −93.41M USDNet income, FY2022: 57.55M USDNet income, FY2023: −20.89M USDNet income, FY2024: 102.12M USDNet income, FY2025: −70.03M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 751.54M USD. Revenue FY2022 797.92M USD. Revenue FY2023 1.04B USD. Revenue FY2024 1.14B USD. Revenue FY2025 1.36B USD. Operating income FY2021 23.72M USD. Operating income FY2022 5.34M USD. Operating income FY2023 −2.87M USD. Operating income FY2024 −2.83M USD. Operating income FY2025 36.55M USD. Net income FY2021 −93.41M USD. Net income FY2022 57.55M USD. Net income FY2023 −20.89M USD. Net income FY2024 102.12M USD. Net income FY2025 −70.03M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.36B USD1.14B USD1.04B USD797.92M USD751.54M USD
Cost of goods sold992.3M USD864.43M USD808.54M USD602.28M USD570.2M USD
Gross profit371.77M USD275.64M USD232.47M USD195.64M USD181.34M USD
Selling, general, and administrative270.92M USD225.93M USD189.07M USD151M USD122.25M USD
Operating expenses335.22M USD278.47M USD235.34M USD190.29M USD157.62M USD
Interest income9.41M USD3.3M USD2.66M USD600K USD—
Interest expense12.89M USD13.95M USD18.88M USD21.92M USD19.3M USD
Depreciation and amortization29.38M USD23.37M USD21.03M USD20.28M USD21.06M USD
Operating income36.55M USD−2.83M USD−2.87M USD5.34M USD23.72M USD
Net income−70.03M USD102.12M USD−20.89M USD57.55M USD−93.41M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
5 beats, 0 misses, 0 met estimates
Average EPS surprise
+29.82%
5 comparable reports
Latest EPS result
0.48
Estimate 0.41 · Beat by 17.53%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.560.460.360.26Q3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q3 2025, reported Aug 4, 2025: actual 0.46, estimate 0.302, surprise +52.57%, Beat. Q4 2025, reported Nov 5, 2025: actual 0.42, estimate 0.31, surprise +35.48%, Beat. Q1 2026, reported Feb 25, 2026: actual 0.52, estimate 0.41, surprise +26.83%, Beat. Q2 2026, reported May 6, 2026: actual 0.42, estimate 0.36, surprise +16.67%, Beat. Q3 2026, reported Aug 5, 2026: actual 0.48, estimate 0.408, surprise +17.53%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.39, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates146.76M130.86M114.96M99.06MQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q3 2025, reported Aug 4, 2025: actual 104.7M USD, estimate 107.07M USD, surprise -2.21%, Miss. Q4 2025, reported Nov 5, 2025: actual 109.48M USD, estimate 120.61M USD, surprise -9.23%, Miss. Q1 2026, reported Feb 25, 2026: actual 124.5M USD, estimate 120.61M USD, surprise +3.22%, Beat. Q2 2026, reported May 6, 2026: actual 128.59M USD, estimate 122.8M USD, surprise +4.71%, Beat. Q3 2026, reported Aug 5, 2026: actual 141.11M USD, estimate 135.86M USD, surprise +3.87%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 135.8M USD, surprise —, Comparison unavailable.

MIAX news

prnewswire.com

TISE Reports H1 2026 Listing Results; Sets Records for Total Number and Value of Listings

GUERNSEY, Channel Islands, Aug. 13, 2026 /PRNewswire/ -- The International Stock Exchange (TISE), a wholly-owned subsidiary of Miami International Holdings, Inc. (MIAX) (NYSE: MIAX), today announced that it listed 442…

Read source
gurufocus.com

Murray Stahl Expands RENN Fund Inc Stake Despite Weak Growth Metrics

On Aug. 4, 2026, Murray Stahl (Trades, Portfolio), through Horizon Kinetics, increased the firm's position in RENN Fund Inc (NYSE: RCG) by purchasing 756 additio

Read source
fool.com

Miami International Stock Is Up Big Since Its Debut. Is It a Buy as Insiders Trim?

Teekell's $137,370 disposition was executed under a Rule 10b5-1 trading plan adopted several months prior.

Read source
fool.com

Is Miami International Stock a Buy as Insiders Sell? Here's What to Know

Edward Deitzel exercised options at $12.00 and sold shares at $45.78.

Read source
fool.com

MIAX's Revenue Jumped 35% to a Record. Here's What to Know About Its Insider Activity

The transaction involved the sale of 44,445 shares at $45.69 per share on August 4, totaling $2.03 million in proceeds. This disposition represents a 5% reduction in the insider's direct common stock holdings, including…

Read source
fool.com

MIAX Insiders Cashed In Options the Same Day. Here's What to Make of It

This disposition of 20,000 shares on August 4 generated total proceeds of $918,000. The activity consisted of a same-day exercise and sale of stock options, with no indirect holdings reported.

Read source

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Bank of America Corporation logo

BAC

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$61.69

-0.27%

ETFs holding MIAX

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
127.97M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
92.3M
Weight
0.05%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
81.14M
Weight
0.10%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
58.67M
Weight
0.09%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Horizon Kinetics Inflation Beneficiaries ETF logoHorizon Kinetics Inflation Beneficiaries ETFINFL
Market value
40.61M
Weight
2.46%
AUM
1.48B USD
Expense ratio
0.85%
Price / 1D
$55.64+1.53%
iShares Russell 2000 Growth ETF logoiShares Russell 2000 Growth ETFIWO
Market value
29.59M
Weight
0.20%
AUM
15.16B USD
Expense ratio
0.24%
Price / 1D
$387.37+1.24%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
20.21M
Weight
0.11%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
17.43M
Weight
0.02%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%

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