Marex Group plc (MRX) Balance Sheet
MRX balance sheet, 2025
December 31, 2025 · U.S. dollars$34.68B assets = $33.41B liabilities + $1.26B equity
Both columns are drawn to the same scale: what MRX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MRX financial health
Descriptive bands, not a rating. Fiscal 2025.
MRX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.14B2016 | $34.68B2025 | +46.2%/yr | |
| Total liabilities | $761.5M2016 | $33.41B2025 | +52.2%/yr | |
| Shareholders’ equity | $373.8M2016 | $1.26B2025 | +14.5%/yr | |
| Cash & short-term investments | $188.2M2016 | $13.46B2025 | +60.7%/yr | |
| Total debt | $12.9M2019 | $10.23B2025 | +204.1%/yr | |
| Net cash (debt) | $204.6M2019 | $3.22B2025 | +$3.0B | |
| Working capital | $133.3M2019 | $16.77B2025 | +$16.6B | |
| Book value per share | $6.172016 | $16.602025 | +11.6%/yr | |
| Current ratio | 2.582019 | 3.162025 | +0.58 | |
| Debt / equity | 0.032019 | 8.102025 | +8.07 | |
| Shares outstanding | 60.6M2016 | 76.1M2025 | +2.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MRX assets
MRX liabilities and equity
MRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MRX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $13.46B | $5.21B | $4.73B | $3.22B | $758.3M | $291.5M | $217.5M | $160.7M | $89.2M | $188.2M |
| Cash & equivalents | $6.38B | $2.56B | $1.48B | $910.1M | $712.0M | $291.5M | $217.5M | $160.7M | $89.2M | $188.2M |
| Short-term investments | $7.08B | $2.66B | $3.25B | $2.31B | $46.3M | — | — | — | — | — |
| Receivables | $11.07B | $9.55B | $7.71B | $9.04B | $2.17B | $0 | $0 | $0 | $0 | $0 |
| Inventory | $483.7M | $35.8M | $163.4M | $35.8M | $80.1M | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $9.03B | $4.33B | $3.06B | $1.11B | $0 | $0 | — | — | — |
| Total current assets | $24.53B | $23.83B | $16.94B | $15.35B | $4.12B | $291.5M | $217.5M | — | — | — |
| Property, plant & equipment (net) | $110.9M | $80.7M | $57.2M | $45.5M | $20.9M | $20.4M | $27.7M | $2.5M | $2.7M | $2.5M |
| Goodwill & intangible assets | $335.4M | $233.0M | $219.6M | $181.1M | $230.4M | $212.7M | $187.0M | $142.8M | $141.7M | $141.5M |
| Long-term investments | $111.6M | $77.5M | $77.0M | $22.0M | $84.8M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $9.59B | $92.8M | $321.8M | $141.1M | $803.7M | $3.24B | $2.15B | $1.25B | $940.2M | $991.3M |
| Total assets | $34.68B | $24.31B | $17.61B | $15.74B | $5.26B | $3.77B | $2.58B | $1.39B | $1.08B | $1.14B |
| Liabilities | ||||||||||
| Accounts payable | $11.78B | $7.74B | $4.92B | $6.65B | $3.29B | — | — | — | — | — |
| Short-term debt | $7.82B | $4.59B | $4.44B | $5.22B | $1.14B | — | — | — | — | — |
| Deferred revenue | — | $2.4M | $500,000 | $1.0M | — | — | — | — | — | — |
| Total current liabilities | $7.75B | $21.78B | $15.88B | $14.56B | $4.63B | $122.4M | $84.2M | — | — | — |
| Long-term debt | $2.33B | $1.48B | $907.9M | $135.8M | $136.6M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $97.3M | $77.5M | $52.6M | $38.9M | $23.0M | — | — | — | — | — |
| Other long-term liabilities | $23.33B | $71.5M | $43.1M | $368.5M | $20.2M | $3.20B | $2.08B | $1.01B | $712.3M | $761.5M |
| Total liabilities | $33.41B | $23.34B | $16.84B | $15.07B | $4.79B | $3.32B | $2.16B | $1.01B | $712.3M | $761.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $23,000 | $23,000 | $21,000 | $176.2M | $21,000 |
| Retained earnings (deficit) | $982.0M | $722.4M | $555.3M | $455.3M | $346.6M | $132.6M | $107.0M | $72.3M | $62.1M | $64.6M |
| Accumulated other comprehensive income | $15.4M | −$22.6M | −$1.6M | −$1.7M | −$3.3M | $176.8M | $176.4M | $175.1M | −$294,999 | $174.9M |
| Minority interest | −$200,000 | $0 | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.26B | $976.9M | $775.9M | $677.7M | $477.7M | $443.8M | $417.8M | $381.9M | $372.4M | $373.8M |
| Key figures | ||||||||||
| Total debt | $10.23B | $6.14B | $5.39B | $5.73B | $1.29B | $246.8M | $12.9M | — | — | — |
| Net cash (debt) | $3.22B | −$926.2M | −$654.8M | −$2.51B | −$531.8M | $44.8M | $204.6M | — | — | — |
| Working capital | $16.77B | $2.05B | $1.05B | $792.3M | −$505.3M | $169.2M | $133.3M | — | — | — |
| Tangible book value | $928.4M | $743.9M | $556.3M | $496.6M | $247.3M | $231.0M | $230.8M | $239.1M | $230.6M | $232.3M |
| Book value per share | $16.60 | $12.98 | $10.74 | $9.57 | $6.75 | $7.32 | $6.89 | $6.30 | $6.14 | $6.17 |
| Shares outstanding | 76.1M | 75.3M | 72.2M | 70.8M | 70.8M | 60.6M | 60.6M | 60.6M | 60.6M | 60.6M |
| Current ratio | 3.16 | 1.09 | 1.07 | 1.05 | 0.89 | 2.38 | 2.58 | — | — | — |
| Quick ratio | 3.16 | 0.68 | 0.78 | 0.84 | 0.63 | 2.38 | 2.58 | — | — | — |
| Debt / equity | 8.10 | 6.28 | 6.94 | 8.45 | 2.70 | 0.56 | 0.03 | — | — | — |
| Equity / assets | 3.6% | 4.0% | 4.4% | 4.3% | 9.1% | 11.8% | 16.2% | 27.4% | 34.3% | 32.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $8.45B | $6.89B | $13.46B | $7.35B | $6.91B | $5.34B | $5.21B | $5.83B | $4.45B | $4.73B | $1.48B |
| Cash & equivalents | $3.85B | $3.07B | $6.38B | $3.11B | $6.91B | $2.61B | $2.56B | $5.83B | $1.91B | $1.48B | $1.48B |
| Short-term investments | $4.60B | $3.82B | $7.08B | $4.24B | $3.70B | $2.73B | $2.66B | — | $2.53B | $3.25B | — |
| Receivables | $12.84B | $10.68B | $11.07B | $11.04B | $13.56B | $9.75B | $9.55B | $7.11B | $6.13B | $7.71B | $0 |
| Inventory | $534.8M | $300.1M | $483.7M | $179.5M | $260.5M | $104.1M | $35.8M | $0 | $123.0M | $163.4M | $0 |
| Other current assets | $18.78B | $17.55B | $0 | $13.56B | $1.21B | $8.59B | $9.03B | $1.01B | $5.97B | $4.33B | $0 |
| Total current assets | $40.60B | $35.42B | $24.53B | $32.13B | $21.94B | $23.78B | $23.83B | $13.95B | $16.67B | $16.94B | $1.48B |
| Property, plant & equipment (net) | $115.7M | $109.1M | $110.9M | $88.5M | $88.0M | $86.8M | $80.7M | $0 | $79.0M | $57.2M | $57.2M |
| Goodwill & intangible assets | $354.3M | $331.9M | $335.2M | $319.7M | $282.0M | $279.5M | $233.0M | $220.0M | $221.1M | $219.6M | $219.6M |
| Long-term investments | $103.5M | $220.8M | $111.6M | $86.0M | $8.53B | $29.5M | $77.5M | $5.11B | $17.5M | $77.0M | $0 |
| Other non-current assets | $947.9M | $443.8M | $9.59B | $315.3M | $347.3M | $183.4M | $92.8M | $226.4M | $206.6M | $321.8M | $15.99B |
| Total assets | $42.13B | $36.53B | $34.68B | $32.94B | $31.19B | $24.35B | $24.31B | $19.51B | $17.19B | $17.61B | $17.75B |
| Liabilities | |||||||||||
| Accounts payable | $11.16B | $14.77B | $11.78B | $13.53B | $13.37B | $9.20B | $7.74B | $8.08B | $6.52B | $4.92B | — |
| Short-term debt | $8.68B | — | $7.82B | — | $3.29B | $5.28B | $4.59B | $2.33B | $3.33B | $4.44B | — |
| Deferred revenue | — | — | — | — | — | — | $2.4M | — | $3.7M | $500,000 | — |
| Total current liabilities | $37.33B | $32.78B | $7.75B | $29.03B | $16.66B | $21.77B | $21.78B | $11.06B | $15.27B | $15.88B | $422.8M |
| Long-term debt | $2.76B | $2.28B | $2.33B | $2.65B | $5.26B | $1.46B | $1.48B | $2.63B | $971.4M | $907.9M | $0 |
| Lease obligations | $101.6M | $94.8M | $97.3M | $83.9M | $84.3M | $83.1M | $77.5M | — | $78.4M | $52.6M | — |
| Other long-term liabilities | $37.50B | $127.0M | $23.33B | $77.0M | $8.16B | $76.5M | $71.5M | $4.85B | $68.4M | $43.1M | $16.55B |
| Total liabilities | $40.26B | $35.18B | $33.41B | $31.76B | $30.08B | $23.31B | $23.34B | $18.55B | $16.31B | $16.84B | $16.97B |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $100,000 | — | $100,000 | — | $100,000 | $100,000 | $100,000 | — | $100,000 | $100,000 | $100,000 |
| Retained earnings (deficit) | $1.20B | $1.08B | $982.0M | $896.7M | $828.2M | $775.3M | $722.4M | — | $611.2M | $555.3M | $555.3M |
| Accumulated other comprehensive income | $497.8M | — | $15.4M | — | $115.2M | $2.1M | −$22.6M | — | −$6.0M | −$1.6M | −$1.6M |
| Minority interest | −$2.0M | −$2.3M | −$200,000 | $4.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.87B | $1.35B | $1.26B | $1.18B | $1.11B | $1.05B | $976.9M | $959.8M | $882.3M | $775.9M | $775.9M |
| Key figures | |||||||||||
| Total debt | $2.82B | $2.28B | $10.23B | $2.65B | $8.55B | $6.81B | $6.14B | $4.97B | $4.37B | $5.39B | $907.9M |
| Net cash (debt) | $5.63B | $4.61B | $3.22B | $4.70B | −$1.64B | −$1.48B | −$926.2M | $860.5M | $77.7M | −$654.8M | $575.6M |
| Working capital | $3.27B | $2.65B | $16.77B | $3.10B | $5.27B | $2.01B | $2.05B | $2.88B | $1.40B | $1.05B | $1.06B |
| Tangible book value | $1.52B | $1.02B | $928.6M | $859.8M | $829.2M | $766.7M | $743.9M | $739.8M | $661.2M | $556.3M | $556.3M |
| Book value per share | $24.73 | $18.75 | $16.60 | $16.45 | $15.50 | $13.28 | $12.49 | $12.00 | $12.22 | $10.96 | $10.96 |
| Shares outstanding | 75.6M | 71.9M | 76.1M | 71.7M | 71.7M | 78.8M | 78.2M | 80.0M | 72.2M | 70.8M | 70.8M |
| Current ratio | 1.09 | 1.08 | 3.16 | 1.11 | 1.32 | 1.09 | 1.09 | 1.26 | 1.09 | 1.07 | 3.51 |
| Quick ratio | 0.57 | 0.54 | 3.16 | 0.63 | 1.23 | 0.69 | 0.68 | 1.17 | 0.69 | 0.78 | 3.51 |
| Debt / equity | 1.51 | 1.69 | 8.10 | 2.25 | 7.69 | 6.51 | 6.28 | 5.18 | 4.95 | 6.94 | 1.17 |
| Equity / assets | 4.4% | 3.7% | 3.6% | 3.6% | 3.6% | 4.3% | 4.0% | 4.9% | 5.1% | 4.4% | 4.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 25, 2026); data from EODHD.
MRX financial position
At the end of fiscal 2025 (December 31, 2025), Marex had total assets of $34.7 billion (up 42.6% from a year earlier), total liabilities of $33.4 billion and shareholders' equity of $1.3 billion. It held $13.5 billion in cash and short-term investments against $10.2 billion of debt, a net cash position of $3.2 billion. Its current ratio was 3.16. In the latest quarter (ended June 30, 2026) total assets were $42.1 billion and equity $1.9 billion.
Related: MRX income statement, MRX cash flow statement, MRX key metrics. See the MRX stock overview for the latest quote and news.
MRX balance sheet FAQ
What are Marex's total assets?
Marex reported total assets of $34.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $24.3 billion a year earlier.
How much debt does Marex have?
Marex had $10.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 8.10.
How much cash does Marex have?
Marex held $13.5 billion in cash and short-term investments at the end of fiscal 2025; with $10.2 billion of debt that is net cash of $3.2 billion.
What is Marex's book value?
Marex's shareholders' equity (book value) was $1.3 billion at the end of fiscal 2025, or $16.60 per share.
What is Marex's current ratio?
Marex had current assets of $24.5 billion and current liabilities of $7.8 billion, a current ratio of 3.16 (it can cover its short-term obligations).
How much goodwill does Marex have?
Marex carried $335.4 million of goodwill and intangible assets, 1.0% of total assets, at the end of fiscal 2025.