Miami International Holdings vs Marketaxess Holdings
Miami International Holdings is the larger business, with $1.36bn of revenue in fiscal 2025 against $846m for Marketaxess Holdings (1.6 times as much). Miami International Holdings grew faster (19.6% against 3.6%). Marketaxess Holdings kept more of each dollar of sales as profit: a net margin of 29.1% against -5.1%. Miami International Holdings carries less debt relative to equity (0.2% against 19.2%).
| Latest fiscal year | Miami International HoldingsMIAX, 2025 | Marketaxess HoldingsMKTX, 2025 |
|---|---|---|
| Revenue | $1.36bn | $846m |
| Revenue growth | 19.6% | 3.6% |
| Net income | −$70.0m | $247m |
| Operating margin | 6.7% | 40.4% |
| Net margin | -5.1% | 29.1% |
| Return on equity | -11.2% | 19.5% |
| Free cash flow | $145m | $374m |
| Cash | $434m | $520m |
| Total debt | $1.5m | $220m |
| Debt to equity | 0.2% | 19.2% |
| Dividend per share | — | $3.04 |
| Dividend yield | — | 1.9% |
| Share buybacks | $21.8m | $420m |
| Employees | — | 868 |
| Market value | $3.40bn | $5.82bn |
| Price vs our value range | — | — |
| Moat score | — | 90 (Strong) |
| Insider trades, 12 months | 4 buys, 71 sales | 0 buys, 12 sales |