Miami International Holdings, Inc. (MIAX) Balance Sheet
MIAX balance sheet, 2025
December 31, 2025 · U.S. dollars$1.26B assets = $378.4M liabilities + $881.0M equity
Both columns are drawn to the same scale: what MIAX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MIAX financial health
Descriptive bands, not a rating. Fiscal 2025.
MIAX balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $414.0M2020 | $1.26B2025 | +24.9%/yr | |
| Total liabilities | $475.6M2020 | $378.4M2025 | −4.5%/yr | |
| Shareholders’ equity | −$61.6M2020 | $881.0M2025 | — | |
| Cash & short-term investments | $57.2M2020 | $509.7M2025 | +54.9%/yr | |
| Total debt | $103.4M2020 | $1.5M2025 | −57.1%/yr | |
| Net cash (debt) | −$46.2M2020 | $508.2M2025 | +$554.4M | |
| Working capital | $127.9M2021 | $739.9M2025 | +$612.0M | |
| Book value per share | −$0.782020 | $12.622025 | — | |
| Debt / equity | 558.502022 | 0.002025 | −558.50 | |
| Shares outstanding | 79.4M2020 | 69.8M2025 | −2.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MIAX assets
MIAX liabilities and equity
MIAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MIAX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $509.7M | $150.3M | $59.3M | $126.4M | $160.9M | $57.2M |
| Cash & equivalents | $509.7M | $150.3M | $59.3M | $126.4M | $160.9M | $57.2M |
| Receivables | $231.6M | $231.5M | $180.3M | $157.5M | $58.4M | $54.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $191.0M | $146.6M | $194.8M | $94.4M | — |
| Total current assets | $741.4M | $572.8M | $386.2M | $478.7M | $313.7M | — |
| Property, plant & equipment (net) | $46.9M | $52.7M | $44.6M | $45.2M | $39.6M | $43.4M |
| Goodwill & intangible assets | $331.5M | $200.6M | $194.2M | $170.3M | $145.2M | $54.1M |
| Long-term investments | $19.2M | $31.0M | $35.6M | $16.6M | $11.6M | $0 |
| Other non-current assets | $120.5M | $116.6M | $59.3M | $44.4M | $25.2M | $316.5M |
| Total assets | $1.26B | $973.7M | $719.8M | $755.4M | $535.3M | $414.0M |
| Liabilities | ||||||
| Accounts payable | $153.0M | $165.4M | $141.7M | $114.3M | $5.6M | — |
| Short-term debt | $1.5M | $11.5M | $116.9M | $36.4M | $17.5M | $14.6M |
| Deferred revenue | — | $2.7M | $2.9M | $1.2M | $7.2M | — |
| Total current liabilities | $1.5M | $405.2M | $448.9M | $393.3M | $185.8M | — |
| Long-term debt | $0 | $32.3M | $6.2M | $115.5M | $149.1M | $0 |
| Lease obligations | $6.7M | $6.8M | $4.6M | $4.4M | $2.5M | — |
| Other long-term liabilities | $376.9M | $168.5M | $100.9M | $246.7M | $314.0M | — |
| Total liabilities | $378.4M | $606.0M | $556.1M | $755.5M | $648.8M | $475.6M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $86,000 | $63,000 | $57,000 | $95,000 | $89,000 | $84,000 |
| Retained earnings (deficit) | −$632.3M | −$562.3M | −$668.5M | −$647.6M | −$705.2M | −$611.8M |
| Accumulated other comprehensive income | −$640,999 | — | $0 | — | — | — |
| Minority interest | — | $0 | −$861,000 | −$379,000 | — | — |
| Total shareholders' equity | $881.0M | $367.6M | $164.6M | $272,000 | −$113.4M | −$61.6M |
| Key figures | ||||||
| Total debt | $1.5M | $43.8M | $123.0M | $151.9M | $166.7M | $103.4M |
| Net cash (debt) | $508.2M | $106.5M | −$63.7M | −$25.5M | −$5.8M | −$46.2M |
| Working capital | $739.9M | $167.6M | −$62.8M | $85.4M | $127.9M | — |
| Tangible book value | $549.5M | $167.0M | −$29.5M | −$170.1M | −$258.6M | −$115.7M |
| Book value per share | $12.62 | $4.63 | $2.07 | $0.00 | −$1.43 | −$0.78 |
| Shares outstanding | 69.8M | 79.4M | 79.4M | 79.4M | 79.4M | 79.4M |
| Current ratio | 491.63 | 1.41 | 0.86 | 1.22 | 1.69 | — |
| Quick ratio | 491.63 | 0.94 | 0.53 | 0.72 | 1.18 | — |
| Debt / equity | 0.00 | 0.12 | 0.75 | 558.50 | — | — |
| Equity / assets | 70.0% | 37.8% | 22.9% | 0.0% | −21.2% | −14.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $660.5M | $643.9M | $509.7M | $401.5M | $195.3M | $129.8M | $150.3M | $125.1M | $62.8M | $59.3M |
| Cash & equivalents | $660.5M | $643.9M | $509.7M | $401.5M | $195.3M | $129.8M | $150.3M | $125.1M | $62.8M | $59.3M |
| Receivables | $258.2M | $106.8M | $231.6M | $215.3M | $227.2M | $218.5M | $231.5M | $155.9M | $184.6M | $180.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $183.9M | $149.3M | $0 | $175.2M | $151.1M | $197.2M | $191.0M | $190.3M | $320.3M | $146.6M |
| Total current assets | $1.10B | $900.1M | $741.4M | $792.0M | $573.7M | $545.4M | $572.8M | $471.3M | $567.6M | $386.2M |
| Property, plant & equipment (net) | $100.5M | $53.5M | $46.9M | $57.1M | $63.7M | $56.5M | $52.7M | $53.0M | $50.9M | $44.6M |
| Goodwill & intangible assets | $231.0M | $231.1M | $331.5M | $297.3M | $299.2M | $202.1M | $200.6M | $199.7M | $198.4M | $194.2M |
| Long-term investments | $28.9M | $29.2M | $19.2M | $14.2M | $14.2M | $31.0M | $31.0M | $35.1M | $35.6M | $0 |
| Other non-current assets | $137.5M | $230.4M | $120.5M | $64.7M | $70.8M | $88.7M | $116.6M | $113.2M | $103.3M | $94.9M |
| Total assets | $1.60B | $1.44B | $1.26B | $1.23B | $1.02B | $923.7M | $973.7M | $872.2M | $955.9M | $719.8M |
| Liabilities | ||||||||||
| Accounts payable | $135.9M | $166.3M | $153.0M | $142.5M | $154.2M | $147.1M | $165.4M | $120.2M | $155.8M | $141.7M |
| Short-term debt | $1.5M | $1.5M | $1.5M | $11.3M | $11.3M | $10.9M | $11.5M | $9.0M | $10.0M | $116.9M |
| Deferred revenue | $9.2M | $10.4M | — | $9.2M | $9.4M | $3.2M | $2.7M | $3.1M | $3.4M | $2.9M |
| Total current liabilities | $423.2M | $1.5M | $1.5M | $349.3M | $347.9M | $340.6M | $405.2M | $320.9M | $504.5M | $448.9M |
| Long-term debt | $0 | $0 | $0 | $1.5M | $69.2M | $33.2M | $32.3M | $37.0M | $6.4M | $0 |
| Lease obligations | $6.4M | $6.6M | $6.7M | $6.3M | $6.4M | $6.1M | $6.8M | $6.2M | $6.1M | — |
| Other long-term liabilities | $26.9M | $377.1M | $376.9M | $42.6M | $186.2M | $170.1M | $168.5M | $162.9M | $93.6M | $107.1M |
| Total liabilities | $450.1M | $378.6M | $378.4M | $393.4M | $603.3M | $543.9M | $606.0M | $520.8M | $604.5M | $556.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $99,000 | $95,000 | $86,000 | $82,000 | $60,000 | $64,000 | $63,000 | $126,000 | $126,000 | $57,000 |
| Retained earnings (deficit) | −$417.9M | −$462.1M | −$632.3M | −$662.3M | −$560.2M | −$583.7M | −$562.3M | −$569.0M | −$565.8M | −$668.5M |
| Accumulated other comprehensive income | −$2.2M | −$2.4M | −$640,999 | −$630,999 | $1.1M | — | — | — | — | $0 |
| Total shareholders' equity | $1.15B | $1.07B | $881.0M | $831.9M | $418.3M | $379.8M | $367.6M | $352.4M | $352.4M | $164.6M |
| Key figures | ||||||||||
| Total debt | $1.5M | $1.5M | $1.5M | $12.8M | $80.5M | $44.1M | $43.8M | $45.9M | $16.4M | $123.0M |
| Net cash (debt) | $658.9M | $642.4M | $508.2M | $388.7M | $114.8M | $85.7M | $106.5M | $79.2M | $46.4M | −$63.7M |
| Working capital | $679.4M | $898.5M | $739.9M | $442.7M | $225.8M | $204.8M | $167.6M | $150.4M | $63.1M | −$62.8M |
| Tangible book value | $919.3M | $834.4M | $549.5M | $534.6M | $119.1M | $177.7M | $167.0M | $152.8M | $154.0M | −$29.5M |
| Book value per share | $10.39 | $15.26 | $12.62 | $11.86 | $5.27 | $4.86 | $4.67 | $4.44 | $4.44 | $2.07 |
| Shares outstanding | 110.7M | 69.8M | 69.8M | 70.1M | 79.4M | 78.1M | 78.8M | 79.4M | 79.4M | 79.4M |
| Current ratio | 2.61 | 595.67 | 491.63 | 2.27 | 1.65 | 1.60 | 1.41 | 1.47 | 1.13 | 0.86 |
| Quick ratio | 2.17 | 496.86 | 491.63 | 1.77 | 1.21 | 1.02 | 0.94 | 0.88 | 0.49 | 0.53 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.02 | 0.19 | 0.12 | 0.12 | 0.13 | 0.05 | 0.75 |
| Equity / assets | 71.9% | 73.8% | 70.0% | 67.9% | 40.9% | 41.1% | 37.8% | 40.4% | 36.9% | 22.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 6, 2026); data from EODHD.
MIAX financial position
At the end of fiscal 2025 (December 31, 2025), Miami International had total assets of $1.3 billion (up 29.4% from a year earlier), total liabilities of $378.4 million and shareholders' equity of $881.0 million. It held $509.7 million in cash and short-term investments against $1.5 million of debt, a net cash position of $508.2 million. Its current ratio was 491.63. In the latest quarter (ended June 30, 2026) total assets were $1.6 billion and equity $1.2 billion.
Related: MIAX income statement, MIAX cash flow statement, MIAX key metrics. See the MIAX stock overview for the latest quote and news.
MIAX balance sheet FAQ
What are Miami International's total assets?
Miami International reported total assets of $1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $973.7 million a year earlier.
How much debt does Miami International have?
Miami International had $1.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Miami International have?
Miami International held $509.7 million in cash and short-term investments at the end of fiscal 2025; with $1.5 million of debt that is net cash of $508.2 million.
What is Miami International's book value?
Miami International's shareholders' equity (book value) was $881.0 million at the end of fiscal 2025, or $12.62 per share.
What is Miami International's current ratio?
Miami International had current assets of $741.4 million and current liabilities of $1.5 million, a current ratio of 491.63 (it can cover its short-term obligations).
How much goodwill does Miami International have?
Miami International carried $331.5 million of goodwill and intangible assets, 26.3% of total assets, at the end of fiscal 2025.