Symbols / MIAX Stock $45.87 +0.84% Miami International Holdings, Inc.

Financial Services • Capital Markets • United States • NYQ
MIAX (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Capital Markets
CEO Mr. Thomas P. Gallagher Esq.
Exch · Country NYQ · United States
Market Cap 4.25B
Enterprise Value 3.75B
Income -70.03M
Sales 1.36B
FCF (ttm) 55.65M
Book/sh 10.30
Cash/sh 5.22
Employees 439
Insider 10d —
IPO Aug 14, 2025
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E 26.14
PEG —
P/S 3.12
P/B 4.45
P/C —
EV/EBITDA 26.90
EV/Sales 2.75
Quick Ratio 2.10
Current Ratio 2.54
Debt/Eq 2.81
LT Debt/Eq —
EPS (ttm) -1.00
EPS next Y 1.75
EPS Growth 7.87%
Revenue Growth 14.10%
EPS Gr Q/Q 9.36%
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-25
ROA 6.16%
ROE -11.22%
ROIC —
Gross Margin 31.56%
Oper. Margin 12.03%
Profit Margin -5.13%
Shs Outstand 92.68M
Shs Float 85.80M
Insider Own 9.49%
Instit Own 51.63%
Short Float —
Short Ratio 1.67
Short Interest 3.39M
52W High 51.38
vs 52W High -10.72%
52W Low 28.63
vs 52W Low 60.22%
Beta —
Impl. Vol. 58.18%
Rel Volume 0.36
Avg Volume 1.38M
Volume 498.56K
Target (mean) $48.40
Tgt Median $50.00
Tgt Low $40.00
Tgt High $59.00
# Analysts 5
Recom Buy
Prev Close $45.49
Price $45.87
Change 0.84%
About

Miami 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; provides clearing services for U.S. futures and options on futures 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. In addition, it offers financial markets and securities services to public and private companies. Miami International Holdings, Inc. was incorporated in 2007 and is headquartered in Princeton, New Jersey.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$48.40
Mean price target
2. Current target
$45.87
Latest analyst target
3. DCF / Fair value
$10.81
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$45.87
Low
$40.00
High
$59.00
Mean
$48.40

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-10 main Morgan Stanley Overweight → Overweight $50
2026-04-07 main Rosenblatt Buy → Buy $59
2026-03-05 main Rosenblatt Buy → Buy $59
2026-02-26 main Rosenblatt Buy → Buy $59
2025-12-09 main Rosenblatt Buy → Buy $55
2025-11-06 main Rosenblatt Buy → Buy $55
2025-11-06 main Keefe, Bruyette & Woods Market Perform → Market Perform $44
2025-11-04 main Morgan Stanley Overweight → Overweight $48
2025-11-04 main Piper Sandler Overweight → Overweight $52
2025-11-04 main JP Morgan Neutral → Neutral $37
2025-10-01 main Morgan Stanley Overweight → Overweight $45
2025-09-08 init William Blair — → Outperform —
2025-09-08 init JP Morgan — → Neutral $32
2025-09-08 init Raymond James — → Market Perform —
2025-09-08 init Morgan Stanley — → Overweight $42
2025-09-08 init Keefe, Bruyette & Woods — → Market Perform $37
2025-09-08 init Rosenblatt — → Buy $50
2025-09-08 init Piper Sandler — → Overweight $39
News
RSS: Latest MIAX news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-15 GALLAGHER THOMAS P. Chief Executive Officer — 224,025 $43.36 $9,729,692
2026-04-15 GALLAGHER THOMAS P. Chief Executive Officer — 70,001 $12.00 $840,012
2026-04-15 COMLY BARBARA J. General Counsel — 29,667 $43.64 $1,294,668
2026-04-15 COMLY BARBARA J. General Counsel — 29,667 $12.00 $356,004
2026-04-09 BECKELMAN JOHN Director — 8,667 $12.00 $104,004
2026-04-08 DEITZEL EDWARD Officer — 12,335 $42.00 $518,221
2026-04-08 DEITZEL EDWARD Officer — 12,335 $12.00 $148,020
2026-04-08 BROWN SHELLY Officer — 16,434 $42.08 $691,543
2026-04-08 BROWN SHELLY Officer — 16,434 $12.00 $197,208
2026-04-07 BROWN SHELLY Officer — 3,257 $41.33 $135,215
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,364.07
+19.65%
1,140.07
+9.52%
1,041.01
+30.47%
797.92
Operating Revenue
1,337.08
+19.03%
1,123.33
+9.56%
1,025.31
+30.03%
788.51
Cost Of Revenue
933.54
+8.00%
864.43
+6.91%
808.54
+34.25%
602.28
Reconciled Cost Of Revenue
933.54
+8.00%
864.43
+6.91%
808.54
+34.25%
602.28
Gross Profit
430.53
+56.19%
275.64
+18.57%
232.47
+18.83%
195.63
Operating Expense
335.66
+20.54%
278.47
+19.71%
232.61
+23.81%
187.88
Selling General And Administration
270.92
+19.91%
225.93
+19.50%
189.07
+25.21%
151.00
Selling And Marketing Expense
2.76
-10.02%
3.06
-44.86%
5.55
-33.98%
8.41
General And Administrative Expense
268.16
+20.32%
222.87
+21.44%
183.51
+28.70%
142.59
Salaries And Wages
188.31
+29.67%
145.22
+31.21%
110.69
+32.33%
83.64
Other Gand A
67.86
-0.55%
68.24
+4.55%
65.27
+25.09%
52.18
Other Operating Expenses
35.37
+21.26%
29.17
+29.56%
22.51
+35.64%
16.60
Total Expenses
1,269.20
+11.05%
1,142.90
+9.77%
1,041.15
+31.76%
790.17
Operating Income
94.87
+3458.19%
-2.83
-1875.52%
-0.14
-101.84%
7.75
Total Operating Income As Reported
91.97
+3355.50%
-2.83
+1.43%
-2.87
-153.63%
5.34
EBITDA
-26.31
-118.48%
142.40
+698.41%
17.84
-80.68%
92.31
Normalized EBITDA
144.61
+471.05%
25.32
-9.84%
28.09
+0.10%
28.06
Reconciled Depreciation
29.38
+25.70%
23.37
+11.14%
21.03
+3.68%
20.28
EBIT
-55.69
-146.79%
119.03
+3826.74%
-3.19
-104.43%
72.02
Total Unusual Items
-170.93
-245.99%
117.08
+1241.91%
-10.25
-115.96%
64.24
Total Unusual Items Excluding Goodwill
-170.93
-245.99%
117.08
+1241.91%
-10.25
-115.96%
64.24
Special Income Charges
-112.61
-332.21%
48.50
+574.20%
-10.23
-45.62%
-7.02
Other Special Charges
107.66
—
5.08
—
Restructuring And Mergern Acquisition
2.90
0.00
-100.00%
2.72
+13.08%
2.41
Write Off
0.00
-100.00%
4.11
+69.82%
2.42
-47.58%
4.62
Net Income
-70.03
-168.57%
102.12
+588.86%
-20.89
-136.30%
57.55
Pretax Income
-68.58
-165.26%
105.08
+576.15%
-22.07
-144.04%
50.11
Net Non Operating Interest Income Expense
-3.47
+67.40%
-10.65
+34.31%
-16.21
+23.95%
-21.32
Interest Expense Non Operating
12.89
-7.63%
13.95
-26.09%
18.88
-13.88%
21.92
Net Interest Income
-3.47
+67.40%
-10.65
+34.31%
-16.21
+23.95%
-21.32
Interest Expense
12.89
-7.63%
13.95
-26.09%
18.88
-13.88%
21.92
Interest Income Non Operating
9.41
+185.10%
3.30
+23.95%
2.66
+344.00%
0.60
Interest Income
9.41
+185.10%
3.30
+23.95%
2.66
+344.00%
0.60
Other Income Expense
-159.98
-234.94%
118.56
+2174.45%
-5.71
-108.98%
63.67
Other Non Operating Income Expenses
10.95
+642.44%
1.48
-67.50%
4.54
+890.59%
-0.57
Gain On Sale Of Security
-58.32
-185.03%
68.58
+263884.62%
-0.03
-100.04%
71.27
Tax Provision
1.45
-53.15%
3.10
+544.05%
-0.70
+90.34%
-7.22
Tax Rate For Calcs
0.00
+613.00%
0.00
-6.74%
0.00
-84.96%
0.00
Tax Effect Of Unusual Items
-35.89
-1140.90%
3.45
+1164.92%
-0.32
-102.40%
13.49
Net Income Including Noncontrolling Interests
-70.03
-168.67%
101.99
+577.19%
-21.37
-137.28%
57.33
Net Income From Continuing Operation Net Minority Interest
-70.03
-168.57%
102.12
+588.86%
-20.89
-136.30%
57.55
Net Income From Continuing And Discontinued Operation
-70.03
-168.57%
102.12
+588.86%
-20.89
-136.30%
57.55
Net Income Continuous Operations
-70.03
-168.67%
101.99
+577.19%
-21.37
-137.28%
57.33
Minority Interests
0.00
-100.00%
0.14
-71.58%
0.48
+111.40%
0.23
Normalized Income
65.00
+664.82%
-11.51
-5.00%
-10.96
-261.18%
6.80
Net Income Common Stockholders
-70.03
-168.57%
102.12
+588.86%
-20.89
-136.30%
57.55
Diluted EPS
-1.00
-177.78%
1.29
+588.86%
-0.26
-136.30%
0.72
Basic EPS
-1.00
-177.78%
1.29
+588.86%
-0.26
-136.30%
0.72
Basic Average Shares
69.84
-12.08%
79.44
+0.00%
79.44
+0.00%
79.44
Diluted Average Shares
69.84
-12.08%
79.44
+0.00%
79.44
+0.00%
79.44
Diluted NI Availto Com Stockholders
-70.03
-168.57%
102.12
+588.86%
-20.89
-136.30%
57.55
Depreciation Amortization Depletion Income Statement
29.38
+25.70%
23.37
+11.14%
21.03
+3.68%
20.28
Depreciation And Amortization In Income Statement
29.38
+25.70%
23.37
+11.14%
21.03
+3.68%
20.28
Gain On Sale Of PPE
-2.05
-103.90%
52.60
0.00
0.00
Rent And Landing Fees
11.98
+27.42%
9.40
+24.37%
7.56
+11.75%
6.77
Rent Expense Supplemental
11.98
+27.42%
9.40
+24.37%
7.56
+11.75%
6.77
Line Item Trend 2025-12-31
Total Assets
1,259.42
Current Assets
855.21
Cash Cash Equivalents And Short Term Investments
433.65
Cash And Cash Equivalents
433.65
Receivables
224.76
Accounts Receivable
98.11
Other Receivables
126.66
Prepaid Assets
54.88
Restricted Cash
55.70
Assets Held For Sale Current
40.98
Hedging Assets Current
6.02
Other Current Assets
39.23
Total Non Current Assets
404.21
Net PPE
54.51
Gross PPE
184.18
Accumulated Depreciation
-129.67
Properties
0.00
Land And Improvements
2.21
Buildings And Improvements
9.37
Machinery Furniture Equipment
126.09
Other Properties
15.14
Leases
31.37
Goodwill And Other Intangible Assets
276.81
Goodwill
62.21
Other Intangible Assets
214.60
Investments And Advances
19.18
Non Current Deferred Assets
0.00
Non Current Prepaid Assets
4.00
Other Non Current Assets
4.99
Total Liabilities Net Minority Interest
378.41
Current Liabilities
337.26
Payables And Accrued Expenses
316.49
Payables
307.36
Accounts Payable
152.97
Other Payable
153.18
Current Accrued Expenses
9.14
Total Tax Payable
1.20
Current Debt And Capital Lease Obligation
8.20
Current Debt
1.51
Other Current Borrowings
1.51
Current Capital Lease Obligation
6.69
Current Deferred Liabilities
9.57
Current Deferred Revenue
9.57
Other Current Liabilities
3.00
Total Non Current Liabilities Net Minority Interest
41.15
Long Term Debt And Capital Lease Obligation
—
Long Term Debt
—
Long Term Capital Lease Obligation
—
Non Current Deferred Liabilities
22.39
Non Current Deferred Revenue
—
Non Current Deferred Taxes Liabilities
22.39
Other Non Current Liabilities
18.76
Stockholders Equity
881.02
Common Stock Equity
881.02
Capital Stock
0.09
Common Stock
0.09
Preferred Stock
0.00
Share Issued
85.89
Ordinary Shares Number
85.54
Treasury Shares Number
0.35
Additional Paid In Capital
1,522.14
Retained Earnings
-632.34
Gains Losses Not Affecting Retained Earnings
-0.64
Treasury Stock
8.23
Minority Interest
—
Total Equity Gross Minority Interest
881.02
Total Capitalization
881.02
Working Capital
517.95
Invested Capital
882.52
Total Debt
8.20
Net Debt
—
Capital Lease Obligations
6.69
Net Tangible Assets
604.21
Tangible Book Value
604.21
Derivative Product Liabilities
0.00
Financial Assets
5.11
Interest Payable
0.17
Non Current Note Receivables
39.61
Preferred Stock Equity
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
167.83
+50.61%
111.44
+326.53%
-49.20
-140.45%
121.63
Cash Flow From Continuing Operating Activities
167.83
+50.61%
111.44
+326.53%
-49.20
-140.45%
121.63
Net Income From Continuing Operations
-70.03
-168.67%
101.99
+577.19%
-21.37
-137.28%
57.33
Depreciation Amortization Depletion
29.38
+25.70%
23.37
+11.14%
21.03
+3.68%
20.28
Depreciation And Amortization
29.38
+25.70%
23.37
+11.14%
21.03
+3.68%
20.28
Other Non Cash Items
3.88
-36.21%
6.08
+183.50%
2.15
-20.76%
2.71
Stock Based Compensation
57.57
+31.94%
43.63
+45.30%
30.03
+34.53%
22.32
Provisionand Write Offof Assets
0.05
-98.40%
2.93
-56.54%
6.74
-26.35%
9.15
Asset Impairment Charge
2.72
-55.38%
6.09
-39.34%
10.04
+12.60%
8.91
Deferred Tax
0.47
-85.13%
3.19
+468.98%
-0.86
+87.98%
-7.19
Deferred Income Tax
0.47
-85.13%
3.19
+468.98%
-0.86
+87.98%
-7.19
Operating Gains Losses
184.26
+368.67%
-68.58
-2618.69%
2.72
+103.82%
-71.27
Gain Loss On Investment Securities
58.32
+185.03%
-68.58
-2618.69%
2.72
+103.82%
-71.27
Unrealized Gain Loss On Investment Securities
-10.37
-1056.13%
1.08
+132.87%
-3.30
-1718.14%
0.20
Gain Loss On Sale Of PPE
18.29
0.00
0.00
0.00
Change In Working Capital
-30.09
-260.89%
-8.34
+91.35%
-96.36
-221.71%
79.18
Change In Receivables
9.12
+117.18%
-53.07
-84.33%
-28.79
-1128.69%
2.80
Changes In Account Receivables
-4.51
+86.84%
-34.31
-1700.89%
2.14
+214.54%
-1.87
Change In Payables And Accrued Expense
-34.42
-160.59%
56.82
+219.87%
17.76
+687.79%
-3.02
Change In Accrued Expense
6.21
+7.96%
5.75
+2.35%
5.62
+107.57%
2.71
Change In Payable
-40.63
-179.57%
51.07
+320.57%
12.14
+311.90%
-5.73
Change In Account Payable
-37.90
-177.24%
49.07
+300.17%
12.26
+285.82%
-6.60
Change In Other Working Capital
1.49
+105.89%
-25.33
-198.70%
25.67
+25.21%
20.50
Change In Other Current Assets
-2.86
-118.62%
15.36
+114.37%
-106.85
-290.53%
56.08
Change In Other Current Liabilities
-3.41
-62.03%
-2.11
+49.23%
-4.15
-247.06%
2.82
Investing Cash Flow
-101.33
-149.66%
-40.59
+36.72%
-64.14
-18.93%
-53.93
Cash Flow From Continuing Investing Activities
-101.33
-149.66%
-40.59
+36.72%
-64.14
-18.93%
-53.93
Capital Expenditure
-34.87
+10.61%
-39.01
-50.64%
-25.89
-29.25%
-20.03
Capital Expenditure Reported
-34.87
+10.61%
-39.01
-50.64%
-25.89
-29.25%
-20.03
Net Investment Purchase And Sale
-10.00
-533.71%
-1.58
+91.41%
-18.37
-90.35%
-9.65
Purchase Of Investment
-10.00
-533.71%
-1.58
+91.41%
-18.37
-90.35%
-9.65
Sale Of Investment
—
—
0.00
0.00
Net Business Purchase And Sale
-56.46
0.00
+100.00%
-19.88
+18.02%
-24.25
Purchase Of Business
-56.46
0.00
+100.00%
-19.88
+18.02%
-24.25
Financing Cash Flow
214.77
+630.35%
29.41
+276.91%
-16.62
-77.74%
-9.35
Cash Flow From Continuing Financing Activities
214.77
+630.35%
29.41
+276.91%
-16.62
-77.74%
-9.35
Net Issuance Payments Of Debt
-103.28
-369.61%
-21.99
+28.24%
-30.65
-74.73%
-17.54
Issuance Of Debt
36.88
+3.97%
35.47
+2287.21%
1.49
0.00
Repayment Of Debt
-140.16
-143.90%
-57.47
-78.82%
-32.14
-83.21%
-17.54
Long Term Debt Issuance
36.88
+3.97%
35.47
+2287.21%
1.49
0.00
Long Term Debt Payments
-140.16
-143.90%
-57.47
-78.82%
-32.14
-83.21%
-17.54
Net Long Term Debt Issuance
-103.28
-369.61%
-21.99
+28.24%
-30.65
-74.73%
-17.54
Net Common Stock Issuance
381.32
+3699.95%
10.04
-38.94%
16.44
+71.73%
9.57
Proceeds From Stock Option Exercised
-21.83
-146.24%
47.22
+2061.00%
-2.41
-74.24%
-1.38
Net Other Financing Charges
-41.44
-607.56%
-5.86
—
—
Changes In Cash
281.27
+180.55%
100.26
+177.15%
-129.96
-322.72%
58.35
Effect Of Exchange Rate Changes
-0.09
0.00
0.00
—
Beginning Cash Position
276.40
+56.92%
176.14
-42.46%
306.09
+23.55%
247.74
End Cash Position
557.58
+101.73%
276.40
+56.92%
176.14
-42.46%
306.09
Free Cash Flow
132.97
+83.57%
72.43
+196.46%
-75.09
-173.91%
101.60
Interest Paid Supplemental Data
9.83
-22.11%
12.62
-25.06%
16.84
-9.32%
18.57
Income Tax Paid Supplemental Data
1.64
+258.21%
0.46
-24.09%
0.60
-76.12%
2.52
Common Stock Issuance
381.32
+3699.95%
10.04
-38.94%
16.44
+71.73%
9.57
Issuance Of Capital Stock
381.32
+3699.95%
10.04
-38.94%
16.44
+71.73%
9.57
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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