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Marex Group Ltd (MRX) stock

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NASDAQ: MRX Nasdaq Investment Banking & Brokerage Next results ~November 5, 2026

B Fundamentals grade

Marex Group Ltd is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 39 sales by directors and officers, last 12 monthsInsider trades
  • Funds7 adding, 0 cuttingOf 1 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Marex Group files

Where Marex stands after its latest Filing

Revenue for the twelve months was $2.02bn.

Our model value for Marex Group is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Marex Group Ltd's trailing-twelve-month revenue grew 26.9% year on year, with a free-cash-flow margin of 32.3%.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 43.2% while net income grew 43.6%: a 87pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 26.9% over the last 12 months, against a median of 20.8% for investment banking & brokerage companies we cover.
  • Strong cash generation. 32.3% of revenue turned into free cash flow.
  • Net cash. Cash exceeds long-term debt by $2.9bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 20.4% over 90 days.

Things to watch

  • Insiders selling. 5 insiders sold $17M of stock over the past 365 days and none bought (98% under pre-set trading plans).

Latest results

Earnings per share
$1.64 against an average estimate of $1.36: beat by 20.3%
Next report
November 5, 2026; average EPS estimate $1.54

Marex Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.0%
  • 1 week-1.9%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2B
Net margin
14.5%
EPS (TTM, diluted)
$3.86

Growth

Revenue growth
+26.9%
Change in growth rate
−1.2 pts
Share count change
+1.1%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Marex Group Ltd valuation models and calculator

No model value for Marex Group Ltd at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Marex Group Ltd as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$83–$160 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$49 ~$36–$68 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$45 ~$39–$53 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$1.5 ~$16–$68 Left out: out of range vs price (0.02x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$48 ~$40–$58 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Marex Group Ltd with brokers, investment banks and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $682m and EPS of $1.54 (range $1.48 to $1.61) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.18 +55% $2.8bn +37%
Next $7.01 +13% $3.0bn +10%

Next year's EPS estimate has moved +20.4% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +19.0% on 90 days ago. In the last 30 days, 3 analysts raised Marex Group Ltd's forecast and 0 cut it.

Consensus EPS forecast Marex Group Ltd, last 90 days
$5.00 $5.50 $6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.20 Current fiscal year, 60 days ago: $6.13 Current fiscal year, 30 days ago: $6.13 Current fiscal year, 7 days ago: $6.18 Current fiscal year, Now: $6.18 $6.18 Next fiscal year, 90 days ago: $5.82 Next fiscal year, 60 days ago: $6.39 Next fiscal year, 30 days ago: $6.39 Next fiscal year, 7 days ago: $6.66 Next fiscal year, Now: $7.01 $7.01

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.20$5.82
60 days ago $6.13$6.39
30 days ago $6.13$6.39
7 days ago $6.18$6.66
Now $6.18$7.01

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.36 $1.64 +20.3%
Mar 2026 $1.38 $1.48 +7.0%
Dec 2025 $1.02 $1.13 +10.5%
Sept 2025 $0.94 $0.96 +2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

9 analysts, Nov 2026
Buy889%
Hold111%
Sell00%

Monthly trend

  1. Nov 20263519
  2. Oct 20263418

Counts of recommendations published by analysts covering Marex Group Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.6%
of tradable shares
Days to cover
3.38
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
86%
of shares
Held by insiders
6.8%
of shares
Employees
3,347
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Fundamentals

Revenue (TTM) Marex Group Ltd
$500M $1B $1.5B $2B $2.5B FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY22 Q4: $711.1M Revenue (TTM), FY23 Q4: $1.2B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q4: $2B $2B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY22 Q4 $711.1M
FY23 Q4 $1.2B
FY24 Q4 $1.6B
FY25 Q4 $2B
FCF margin (TTM) Marex Group Ltd
20% 40% 60% 80% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY22 Q4: 31.2% FCF margin (TTM), FY23 Q4: 58.3% FCF margin (TTM), FY24 Q4: 72.2% FCF margin (TTM), FY25 Q4: 32.3% 32.3%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY22 Q4 31.2%
FY23 Q4 58.3%
FY24 Q4 72.2%
FY25 Q4 32.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 711 1,245 1,595 2,024
Net income 92 128 205 294
Diluted EPS $1.36 $1.82 $2.72 $3.86
Growth (year on year)
Revenue — +75.0% +28.1% +26.9%
Net income — +39.7% +59.9% +43.6%
Diluted EPS — +33.8% +49.5% +41.9%
Margins
Net margin 12.9% 10.3% 12.8% 14.5%
Free-cash-flow margin 31.2% 58.3% 72.2% 32.3%
Cash flow
Cash from operations 226 735 1,164 668
Capital spending 4 9 12 13
Free cash flow 222 726 1,152 654
Balance sheet
Cash 910 1,484 2,557 2,881
Total debt 149 0 152 200
Net debt (negative = net cash) −761 −1,484 −2,405 −2,681
Diluted shares 68m 70m 75m 76m
Returned to shareholders
Dividends 7 58 77 56
Buybacks 8 3 20 44
Total returned 15 61 97 100

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$44.1M
Dividends (TTM)
$55.5M
Returned to shareholders
15%
of free cash flow
Buybacks, last 3 fiscal years
$67M
Diluted share count
+1.1%
year over year
Total shareholder yield
2.0%
dividends 1.1% + buybacks 0.9% of market value
Dividend payout ratio
19%
of net income paid out
Days sales outstanding
1982 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in investment banking & brokerage
Last 12 months unless stated MRX PIPR PJT OPY HLI XP Median
Revenue, last 12 months $2.0bn $2.1bn $1.9bn $1.8bn $2.6bn $1.4bn $2.0bn
Revenue growth, last 12 months 26.9% 32.1% 22.9% 13.9% −0.4% 3.1% 20.7%
Revenue growth, 3-year average — 17.1% 20.0% 11.8% 12.7% — 16.2%
Revenue growth, latest quarter — 24.5% 19.5% −10.0% 4.8% — 17.4%
Operating margin — — — 7.2% 20.3% — −2.3%
Operating margin, 3-year average — — — 7.7% 20.3% — 9.4%
Net margin 14.5% 14.5% 10.6% 4.9% 15.8% 64.9% 5.8%
Cash from operations / revenue 33.0% 23.9% 37.8% 3.7% 16.7% 151.2% 7.7%
Free-cash-flow margin 32.3% 23.0% 35.1% 3.3% 15.7% 148.6% 5.2%
Free-cash-flow margin, 3-year average — 20.3% 33.0% −0.2% 23.3% 33.2% 16.8%
Stock pay / revenue — 6.0% 12.5% 4.8% 7.8% 4.9% 4.7%
Change in share count 1.1% 0.1% — −1.0% −1.6% −3.0% 1.2%

Median of all 40 companies we cover in investment banking & brokerage. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 investment banking & brokerage companies
Measure Company Peer median Rank
Revenue growth Growth 26.9% 20.8% 14 of 40
Change in growth rate Growth -1.2pp -0.3pp 22 of 40
Net margin Profitability 14.5% 6.0% 12 of 40
Change in share count Balance sheet 1.1% 1.2% 17 of 35

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$21.6M
Institutions reporting
7
Positions opened / closed
7 / 0

Top buyers and sellers, Q2 2026: 7 institutions bought and 0 sold ; the biggest buyer was Globeflex Capital L P (+212K shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Globeflex Capital L P $12.9M 212K 59.8% —
Argent Capital Management LLC $3.1M 51K 14.3% —
Nkcfo LLC $2.5M 42K 11.8% —
Jackson Creek Investment Advisors LLC $1.9M 30K 9.0% —
Fred Alger Management, LLC $590,910 10K 2.7% —
Navellier & Associates Inc $480,103 8K 2.2% —
Sbi Securities Co., Ltd. $16,944 0K 0.1% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Marex Group Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $17.2M 39 trades by 5 insiders · 99% under pre-set plans
Net ▼ $17.2M net selling
Insider Date Trade Shares Price Value
Tonucci Paolo See Remarks October 12, 2026 Sell pre-set plan 1,160 $72.64 $84,260
Tonucci Paolo See Remarks October 12, 2026 Sell pre-set plan 15,506 $71.98 $1.1M
Van Den Born Simon President October 12, 2026 Sell pre-set plan 1,260 $72.63 $91,515
Van Den Born Simon President October 12, 2026 Sell pre-set plan 14,012 $71.99 $1M
Van Den Born Simon President September 14, 2026 Sell pre-set plan 2,655 $71.36 $189,461
Van Den Born Simon President September 14, 2026 Sell pre-set plan 12,616 $70.77 $892,834
Tonucci Paolo See Remarks September 14, 2026 Sell pre-set plan 2,952 $71.35 $210,625
Tonucci Paolo See Remarks September 14, 2026 Sell pre-set plan 13,714 $70.77 $970,540
Irvin Rob Chief Financial Officer August 14, 2026 Sell 200 $71.87 $14,374
Irvin Rob Chief Financial Officer August 14, 2026 Sell 3,500 $70.91 $248,185
Tonucci Paolo See Remarks August 10, 2026 Sell pre-set plan 455 $62.22 $28,310
Tonucci Paolo See Remarks August 10, 2026 Sell pre-set plan 12,250 $60.64 $742,840

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Marex Group Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Marex Group Ltd in brief

What does Marex Group Ltd do?
Marex Group Ltd is a US-listed company in the investment banking & brokerage industry. Its financial year ends in December.
What is Marex Group Ltd's stock ticker?
Marex Group Ltd trades under the ticker MRX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Marex Group Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Marex Group Ltd reported revenue of $2B, 26.9% higher than a year earlier, according to its SEC filings.
What is Marex Group Ltd's free cash flow?
Marex Group Ltd's free-cash-flow margin is 32.3% of revenue over the trailing twelve months.
Who are Marex Group Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Globeflex Capital L P, Argent Capital Management LLC and Nkcfo LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Marex Group Ltd buying back stock, and does it pay a dividend?
Marex Group Ltd spent $44.1M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.1% over the year.
Does Marex Group Ltd pay a dividend?
Yes: Marex Group Ltd paid $55.5M in dividends over the trailing twelve months, a dividend yield of 1.12% and a payout ratio of 18.9%.
Who are Marex Group Ltd's competitors?
In our Investment Banking & Brokerage peer group, the companies closest to Marex Group Ltd are Piper Sandler Companies, PJT Partners Inc., Oppenheimer Holdings Inc, Houlihan Lokey, Inc. and XP Inc. The side-by-side comparison below sets their revenue, margins and growth against Marex Group Ltd's.
Are insiders buying or selling Marex Group Ltd stock?
Over the last 12 months, Marex Group Ltd's directors and officers reported 0 open-market purchases and 39 sales on Form 4. The insider trading page charts every trade.
When is Marex Group Ltd's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Marex Group Ltd announces its own schedule.