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MIAMI INTERNATIONAL HOLDINGS, INC.

MIAX Clue Score64
United States CIK 0001438472
$30.71 +0.03% Close, 9 Oct 2026
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Price $30.71 −28.48% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 14 Aug 2025. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2023Revenue1,041.0Operating income−2.9Net income−20.9EPS, diluted−0.37Fiscal year 2024Revenue1,140.1 +9.5%Operating income−2.8Net income102.1EPS, diluted1.39Fiscal year 2025Revenue1,364.1 +19.6%Operating income92.0Net income−70.0 −168.6%EPS, diluted−1.00 −171.9%
FY2023FY2024FY2025
Revenue 1,041.0 1,140.1 1,364.1
Growth +9.5% +19.6%
Operating income −2.9 −2.8 92.0
Net income −20.9 102.1 −70.0
Growth −168.6%
EPS, diluted −0.37 1.39 −1.00
Growth −171.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2023Gross margin22.3%Operating margin−0.3%Net margin−2.0%Free cash flow margin−6.3%Fiscal year 2024Gross margin24.2%Operating margin−0.2%Net margin9.0%Free cash flow margin7.4%Fiscal year 2025Gross margin31.6%Operating margin6.7%Net margin−5.1%Free cash flow margin10.6%
FY2023FY2024FY2025
Gross margin 22.3% 24.2% 31.6%
Operating margin −0.3% −0.2% 6.7%
Net margin −2.0% 9.0% −5.1%
Free cash flow margin −6.3% 7.4% 10.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2023Operating cash flow−49.2Capital expenditure−16.2Free cash flow−65.4Buybacks−3.3Fiscal year 2024Operating cash flow111.4Capital expenditure−26.7Free cash flow84.7Buybacks−12.4Fiscal year 2025Operating cash flow167.8Capital expenditure−22.8Free cash flow145.0 +71.2%Buybacks−21.8
FY2023FY2024FY2025
Operating cash flow −49.2 111.4 167.8
Capital expenditure −16.2 −26.7 −22.8
Free cash flow −65.4 84.7 145.0
Growth +71.2%
Buybacks −3.3 −12.4 −21.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2023Cash59.3Shareholders’ equity163.8Fiscal year 2024Cash150.3Total debt37.0Net cash (debt)113.3Shareholders’ equity367.6Debt to equity0.10Fiscal year 2025Cash433.6Total debt1.5Net cash (debt)432.1Shareholders’ equity881.0Debt to equity0.00
FY2023FY2024FY2025
Cash 59.3 150.3 433.6
Total debt n/a 37.0 1.5
Net cash (debt) n/a 113.3 432.1
Shareholders’ equity 163.8 367.6 881.0
Debt to equity n/a 0.10 0.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
22.3% 24.2% 31.6%
−0.3% −0.2% 6.7%
−2.1% 9.2% −5.0%
−2.0% 9.0% −5.1%
−6.3% 7.4% 10.6%
Spending
1.6% 2.3% 1.7%
n/a 2.9% n/a
Returns
−12.8% 27.8% −7.9%
n/a 10.5% −5.6%
Balance and payout
n/a 0.10 0.00
n/a 62.2% 30.0%
n/a 14.7% 15.1%