📊 MIAX Key Takeaways
Is Miami International Holdings, Inc.. (MIAX) a Good Investment?
MIAX demonstrates solid revenue growth of 19.6% YoY and strong cash generation with $145M free cash flow, supported by excellent liquidity (2.54x current ratio) and negligible debt. However, the company is unprofitable with negative net income of -$70M and negative margins (-5.1% net margin), indicating operational challenges despite top-line expansion that require clarification before upgrading the rating.
MIAX shows solid top-line momentum, healthy gross profitability, and strong cash generation, supported by a very liquid balance sheet with almost no long-term debt. However, the business is still converting that growth into negative net income and negative returns on equity and assets, which weakens the overall quality of earnings and keeps the fundamental outlook balanced rather than clearly bullish.
Why Buy Miami International Holdings, Inc.. Stock? MIAX Key Strengths
- Strong revenue growth of 19.6% YoY indicating market demand and business expansion
- Exceptional free cash flow generation of $145M with 10.6% FCF margin, demonstrating cash conversion ability despite GAAP losses
- Fortress balance sheet with $433.6M cash, minimal debt (0.00x debt/equity), and 2.54x current ratio providing financial flexibility
- Substantial gross margin of 31.6% suggesting underlying product/service pricing power
- Revenue growth of 19.6% YoY indicates strong business momentum
- Strong liquidity with $433.65M in cash and 2.54x current and quick ratios
- Free cash flow of $145.04M and minimal leverage provide financial flexibility
MIAX Stock Risks: Miami International Holdings, Inc.. Investment Risks
- Negative net income of -$70M with -5.1% net margin despite $1.4B revenue indicates significant operating or non-operating charges obscuring profitability
- Negative ROE (-7.9%) and ROA (-5.6%) suggest poor capital efficiency and value destruction for shareholders
- Deteriorating EPS of -$1.00 with -171.9% YoY decline signals worsening per-share economics
- Operating margin of only 6.7% is thin relative to revenue scale, leaving little cushion for operational disruptions
- Net income remains negative with a -5.1% net margin, showing incomplete earnings conversion
- Operating margin of 6.7% is relatively thin for the revenue base and leaves limited cushion if costs rise
- Negative ROE (-7.9%) and ROA (-5.6%) indicate weak capital efficiency
Key Metrics to Watch
- Path to GAAP profitability and net margin expansion; identify source of -$70M net loss (impairments, restructuring, or recurring operating losses)
- Operating cash flow sustainability relative to capital expenditures; ensure $145M FCF is not artificially inflated by working capital timing
- Operating margin trend and leverage of revenue growth into incremental profits to improve ROE/ROA
- Net income and net margin improvement
- Operating margin sustainability versus revenue growth
Miami International Holdings, Inc.. (MIAX) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.54x current ratio provides a solid financial cushion.
MIAX Profit Margin, ROE & Profitability Analysis
MIAX vs Finance Sector: How Miami International Holdings, Inc.. Compares
How Miami International Holdings, Inc.. compares to Finance sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Miami International Holdings, Inc.. Stock Overvalued? MIAX Valuation Analysis 2026
Based on fundamental analysis, Miami International Holdings, Inc.. has mixed fundamental signals relative to the Finance sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Miami International Holdings, Inc.. Balance Sheet: MIAX Debt, Cash & Liquidity
MIAX Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Miami International Holdings, Inc..'s revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $-0.37 indicates the company is currently unprofitable.
MIAX Revenue Growth, EPS Growth & YoY Performance
MIAX Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $276.7M | -$3.2M | $-0.05 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Miami International Holdings, Inc.. Dividends, Buybacks & Capital Allocation
MIAX SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Miami International Holdings, Inc.. (CIK: 0001438472)
📋 Recent SEC Filings
❓ Frequently Asked Questions about MIAX
What is the AI rating for MIAX?
Miami International Holdings, Inc.. (MIAX) has a Combined AI Rating of HOLD from Claude (HOLD) and ChatGPT (HOLD) with 63% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are MIAX's key strengths?
Claude: Strong revenue growth of 19.6% YoY indicating market demand and business expansion. Exceptional free cash flow generation of $145M with 10.6% FCF margin, demonstrating cash conversion ability despite GAAP losses. ChatGPT: Revenue growth of 19.6% YoY indicates strong business momentum. Strong liquidity with $433.65M in cash and 2.54x current and quick ratios.
What are the risks of investing in MIAX?
Claude: Negative net income of -$70M with -5.1% net margin despite $1.4B revenue indicates significant operating or non-operating charges obscuring profitability. Negative ROE (-7.9%) and ROA (-5.6%) suggest poor capital efficiency and value destruction for shareholders. ChatGPT: Net income remains negative with a -5.1% net margin, showing incomplete earnings conversion. Operating margin of 6.7% is relatively thin for the revenue base and leaves limited cushion if costs rise.
What is MIAX's revenue and growth?
Miami International Holdings, Inc.. reported revenue of $1.4B.
Does MIAX pay dividends?
Miami International Holdings, Inc.. does not currently pay dividends.
Where can I find MIAX SEC filings?
Official SEC filings for Miami International Holdings, Inc.. (CIK: 0001438472) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is MIAX's EPS?
Miami International Holdings, Inc.. has a diluted EPS of $-1.00.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is MIAX a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Miami International Holdings, Inc.. has a HOLD rating with 63% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is MIAX stock overvalued or undervalued?
Valuation metrics for MIAX: ROE of -7.9% (sector avg: 12%), net margin of -5.1% (sector avg: 25%). Compare these metrics with sector averages to assess valuation.
Should I buy MIAX stock in 2026?
Our dual AI analysis gives Miami International Holdings, Inc.. a combined HOLD rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is MIAX's free cash flow?
Miami International Holdings, Inc..'s operating cash flow is $167.8M, with capital expenditures of $22.8M. FCF margin is 10.6%.
How does MIAX compare to other Finance stocks?
Vs Finance sector averages: Net margin -5.1% (avg: 25%), ROE -7.9% (avg: 12%), current ratio 2.54 (avg: 1.2).