Factset Research Systems vs Miami International Holdings
Factset Research Systems is the larger business, with $2.48bn of revenue in fiscal 2026 against $1.36bn for Miami International Holdings (1.8 times as much). Miami International Holdings grew faster (19.6% against 6.7%). Factset Research Systems kept more of each dollar of sales as profit: a net margin of 21.5% against -5.1%. Miami International Holdings carries less debt relative to equity (0.2% against 68.7%).
| Latest fiscal year | Factset Research SystemsFDS, 2026 | Miami International HoldingsMIAX, 2025 |
|---|---|---|
| Revenue | $2.48bn | $1.36bn |
| Revenue growth | 6.7% | 19.6% |
| Net income | $533m | −$70.0m |
| Operating margin | 28.3% | 6.7% |
| Net margin | 21.5% | -5.1% |
| Return on equity | 25.5% | -11.2% |
| Free cash flow | $707m | $145m |
| Cash | $233m | $434m |
| Total debt | $1.38bn | $1.5m |
| Debt to equity | 68.7% | 0.2% |
| Dividend per share | — | — |
| Dividend yield | 1.4% | — |
| Share buybacks | $644m | $21.8m |
| Employees | 12,444 | — |
| Market value | $11.77bn | $3.40bn |
| Price vs our value range | Within our value range | — |
| Moat score | 90 (Strong) | — |
| Insider trades, 12 months | 1 buys, 4 sales | 4 buys, 71 sales |