Miami International Holdings, Inc. balance sheet
At the end of fiscal 2025, Miami International Holdings, Inc. had total assets of $1.26bn, total liabilities of $378m and shareholders' equity of $881m. It held $434m in cash against $1.5m of debt: net cash of $432m.
Balance sheet
| Fiscal year | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|
| Cash and equivalents | 59 | 150 | 434 | 699 |
| Receivables | — | 92 | 98 | 96 |
| Total current assets | — | 573 | 855 | 1,130 |
| Goodwill | 47 | 47 | 62 | 62 |
| Total assets | — | 974 | 1,259 | 1,618 |
| Accounts payable | — | 13 | 8 | 9 |
| Deferred revenue (current) | — | 3 | 10 | 9 |
| Total current liabilities | — | 405 | 337 | 365 |
| Short-term debt | — | 5 | 2 | 2 |
| Long-term debt | — | 32 | 0 | 0 |
| Total debt | 0 | 107 | 2 | 2 |
| Total liabilities | — | 606 | 378 | 398 |
| Shareholders' equity | 164 | 368 | 881 | 1,220 |
| Net debt (negative = net cash) | −59 | −44 | −432 | −697 |
| Shares outstanding | — | 63m | 86m | 100m |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Receivables | 92 | — | — | 100 | 98 | 107 | 120 | 96 |
| Total current assets | 573 | — | — | 792 | 855 | 971 | 1,103 | 1,130 |
| Goodwill | 47 | — | — | 65 | 62 | 62 | 62 | 62 |
| Total assets | 974 | — | — | 1,225 | 1,259 | 1,444 | 1,600 | 1,618 |
| Accounts payable | 13 | — | — | 9 | 8 | 13 | 19 | 9 |
| Deferred revenue (current) | 3 | — | — | 9 | 10 | 10 | 9 | 9 |
| Total current liabilities | 405 | — | — | 349 | 337 | 351 | 423 | 365 |
| Short-term debt | 5 | — | — | 5 | 2 | 2 | 2 | 2 |
| Long-term debt | 32 | — | — | 2 | 0 | 0 | 0 | 0 |
| Total debt | 37 | — | — | 6 | 2 | 2 | 2 | 2 |
| Total liabilities | 606 | — | — | 393 | 378 | 379 | 450 | 398 |
| Shareholders' equity | 368 | 380 | 418 | 832 | 881 | 1,066 | 1,150 | 1,220 |
| Shares outstanding | 63m | — | — | 81m | 86m | 94m | 99m | 100m |
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