# Miami International Holdings Inc. (MIAX) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Financial Services / Capital Markets. Price $33.86, market value $3.4 billion.

## Valuation
- **P/E (trailing): 11.6×**. Miami International Holdings Inc. trades at 11.6× trailing earnings. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 18.0×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 2.5×**. Each dollar of revenue is priced at 2.5×.
- **Price / book: 2.8×**. The shares trade at 2.8× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 24.4×**. Enterprise value is 24.4× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 6.5%** (5-yr avg 4.7%). Free cash flow equals 6.5% of the market value, above its five-year average of 4.7%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 8.7%**. The inverse of the P/E: 8.7% of the price is earned each year.

## Profitability
- **Gross margin: 31.6%**. Miami International Holdings Inc. keeps 31.6% of revenue after the direct cost of what it sells.
- **Operating margin: 6.7%**. 6.7% of revenue is left after running the business.
- **Net margin: -5.1%**. The company reported a net loss over the last twelve months.
- **Return on equity: -7.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 20.5%**. Return on all capital, debt included, is 20.5%: comfortably above what that capital costs.
- **Return on assets: -5.6%**. Each dollar of assets produces -5.6% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 19.6%**. Revenue grew 19.6% over the last year.
- **EPS growth (1 yr): -171.9%**. Earnings per share fell 171.9%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: $434 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. Miami International Holdings Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (5 analysts). 5 analysts cover Miami International Holdings Inc.; the consensus is buy, with an average price target of $44.80 (+32% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -20.2%** (YTD -21.4%, 3-mo -25.5%). The shares are down 20.2% over twelve months including dividends.
- **From 52-week high: -40.7%** (16.5% above the low). Trading 41% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 55**. An RSI of 55 is neutral.
- **Beta (1 yr): 0.52** (volatility 43%). Beta of 0.52 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MIAX · Page: https://foliofundamentals.com/stocks/miax

Not investment advice.