Miami International Holdings, Inc. (MIAX) Key Metrics
MIAX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.07B
- Enterprise value
- $2.91B
- P/E (TTM)
- 30.9
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 2.1
- Price / book
- 3.1
- EV / EBITDA
- 31.1
- Dividend yield
- —
- Beta
- —
MIAX key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMIAX returns How much profit the business earns on the capital it uses.
MIAX per-share figures Results divided by the shares outstanding at year-end.
MIAX financial health Debt, liquidity and how easily interest is covered.
MIAX efficiency & capital use Working capital cycle and where the cash goes.
MIAX valuation history
MIAX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MIAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MIAX cash returned to shareholders
MIAX price vs earnings per share
MIAX key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $3.10B | — | — | — | — | — |
| Enterprise value | $2.59B | — | — | — | — | — |
| Price / sales | 2.3 | — | — | — | — | — |
| Price / book | 3.5 | — | — | — | — | — |
| Price / free cash flow | 21.4 | — | — | — | — | — |
| Price / operating cash flow | 18.5 | — | — | — | — | — |
| EV / sales | 1.9 | — | — | — | — | — |
| EV / free cash flow | 17.9 | — | — | — | — | — |
| Earnings yield | −2.3% | — | — | — | — | — |
| Free cash flow yield | 4.7% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.7% | — | — | — | — | — |
| Share price at fiscal year-end | $44.38 | — | — | — | — | — |
| Per share | ||||||
| Revenue per share | $19.53 | $14.35 | $13.11 | $10.04 | $9.46 | $5.70 |
| Earnings per share | −$1.00 | $1.29 | −$0.26 | $0.72 | −$1.18 | −$0.40 |
| Operating cash flow per share | $2.40 | $1.40 | −$0.62 | $1.53 | $0.31 | $1.51 |
| Free cash flow per share | $2.08 | $0.91 | −$0.95 | $1.28 | $0.08 | $1.42 |
| Cash per share | $7.30 | $1.89 | $0.75 | $1.59 | $2.03 | $0.72 |
| Book value per share | $12.62 | $4.63 | $2.07 | $0.00 | −$1.43 | −$0.78 |
| Tangible book value per share | $7.87 | $2.10 | −$0.37 | −$2.14 | −$3.26 | −$1.46 |
| Capex per share | $0.33 | $0.49 | $0.33 | $0.25 | $0.23 | $0.10 |
| Debt per share | $0.02 | $0.55 | $1.55 | $1.91 | $2.10 | $1.30 |
| Shares outstanding | 69.8M | 79.4M | 79.4M | 79.4M | 79.4M | 79.4M |
| Change in shares outstanding | −12.1% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | −11.2% | 38.4% | −25.3% | — | — | — |
| Return on invested capital (ROIC) | 9.1% | −1.1% | −1.8% | — | — | — |
| Return on assets (ROA) | −6.3% | 12.1% | −2.8% | 8.9% | −19.7% | −7.7% |
| Return on tangible assets | −7.5% | 13.2% | −4.0% | 9.8% | −23.9% | −8.9% |
| Free cash flow margin | 10.6% | 6.4% | −7.2% | 12.7% | 0.8% | 24.9% |
| Income quality (OCF / net income) | — | 1.09 | — | 2.11 | — | — |
| Financial health | ||||||
| Total debt | $1.5M | $43.8M | $123.0M | $151.9M | $166.7M | $103.4M |
| Cash & short-term investments | $509.7M | $150.3M | $59.3M | $126.4M | $160.9M | $57.2M |
| Net debt | −$508.2M | −$106.5M | $63.7M | $25.5M | $5.8M | $46.2M |
| Debt / equity | 0.00 | 0.12 | 0.75 | 558.50 | — | — |
| Debt / assets | 0.00 | 0.04 | 0.17 | 0.20 | 0.31 | 0.25 |
| Net debt / EBITDA | — | −0.75 | 3.57 | 0.28 | — | — |
| Current ratio | 491.63 | 1.41 | 0.86 | 1.22 | 1.69 | — |
| Quick ratio | 491.63 | 1.41 | 0.86 | 1.22 | 1.69 | — |
| Interest coverage | 2.8 | -0.2 | -0.2 | 0.2 | 1.2 | — |
| Working capital | $739.9M | $167.6M | −$62.8M | $85.4M | $127.9M | — |
| Invested capital | $372.8M | $261.1M | $228.4M | $25.7M | −$107.6M | −$15.4M |
| Tangible asset value | $549.5M | $167.0M | −$30.4M | −$170.5M | −$258.8M | −$115.7M |
| Net current asset value | $363.0M | −$33.2M | −$169.9M | −$276.7M | −$335.1M | — |
| Graham number | — | $11.57 | — | $0.24 | — | — |
| Graham net-net per share | $4.37 | −$3.55 | −$4.55 | −$6.43 | −$5.59 | −$4.76 |
| Capital allocation | ||||||
| Share buybacks (net) | $21.8M | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 15.1% | — | — | — | — | — |
| Capex / revenue | 1.7% | 3.4% | 2.5% | 2.5% | 2.4% | 1.7% |
| Capex / operating cash flow | 13.6% | 35.0% | — | 16.5% | 74.5% | 6.4% |
| Capex / depreciation | 0.78 | 1.67 | 1.23 | 0.99 | 0.86 | 0.44 |
| Stock-based compensation / revenue | 4.2% | 3.8% | 2.9% | 2.8% | 2.4% | — |
| SG&A / revenue | 19.9% | 19.8% | 18.2% | 18.9% | 16.3% | — |
| Efficiency | ||||||
| Days sales outstanding | 62.0 | 65.9 | 59.2 | 49.4 | 27.3 | 43.6 |
| Days payables outstanding | 58.6 | 64.9 | 57.8 | 36.4 | 3.6 | — |
| Cash conversion cycle (days) | 3.4 | 1.1 | 1.4 | 13.0 | 23.7 | — |
| Receivables turnover | 5.89 | 5.54 | 6.16 | 7.39 | 13.36 | 8.37 |
| Payables turnover | 6.23 | 5.63 | 6.32 | 10.04 | 101.10 | — |
| Asset turnover | 1.22 | 1.35 | 1.41 | 1.24 | 1.58 | 1.09 |
| Average receivables | $231.6M | $205.9M | $168.9M | $108.0M | $56.2M | $54.1M |
| Average payables | $159.2M | $153.6M | $128.0M | $60.0M | $5.6M | — |
| Intangibles / total assets | 26.3% | 20.6% | 27.0% | 22.6% | 27.1% | 13.1% |
Computed from MIAX's annual financial statements (latest annual report filed March 6, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MIAX valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 30.9. Miami International earned a return on equity of −11.2% and a return on invested capital of 9.1% in fiscal 2025. It ended the year with $1.5 million of debt and $509.7 million in cash and short-term investments, a net cash position of $508.2 million. It returned $21.8 million to shareholders: $0 in dividends and $21.8 million in share buybacks, 15% of free cash flow. The share count fell 12.1% from 79.4M to 69.8M over 5 years.
See the MIAX income statement, the MIAX chart for price history, or the MIAX stock overview for the latest quote and news.
MIAX key metrics FAQ
What is Miami International's P/E ratio?
Miami International's trailing P/E ratio is 30.9 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was —.
What is Miami International's return on equity?
Miami International's return on equity (ROE) was −11.2% in fiscal 2025: net income of -$70.0 million on average shareholders' equity of $624.3 million.
What is Miami International's ROIC?
Miami International's return on invested capital was 9.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Miami International have?
Miami International had total debt of $1.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
Does Miami International buy back its shares?
Yes. Miami International spent $21.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −12.1% over the year, to 69.8M..
What is Miami International's free cash flow yield?
Miami International generated $145.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.7% on its market value at year-end ($3.1 billion).
What is Miami International's current ratio?
Miami International's current ratio was 491.63 at the end of fiscal 2025: current assets were 491.63 times current liabilities.