3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | -$70M | 31.6% | 6.7% | $145M | $2M | $434M |
| 2024 | $1.1B | $102M | 24.2% | -0.2% | $85M | $37M | $150M |
| 2023 | $1.0B | -$21M | 22.3% | -0.3% | -$65M | — | $59M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $370M | $170M | 34.8% | 12.4% | $49M | $2M | $551M |
| Dec '25 | $369M | $30M | 33.7% | 11.6% | $43M | $2M | $434M |
| Sep '25 | $340M | -$102M | 32.2% | -0.1% | — | $6M | $401M |
| Mar '25 | $327M | -$21M | 28.1% | 6.8% | $7M | — | $130M |
| Dec '24 | $324M | $3M | 25.2% | 2.2% | $33M | $37M | $150M |
| Sep '24 | $277M | -$3M | 25.1% | -0.4% | — | — | $125M |
How the market has priced MIAX against its own fundamentals since 2025-08 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 2 years, Miami International Holdings, Inc.'s revenue has grown 14.5% per year. These are computed facts, not advice.
As of FY2025, Miami International Holdings, Inc. reported $2M of total debt against $434M of cash; operating income covered interest expense 7.1×.
In FY2025, gross margin was 31.6%, operating margin 6.7%, and net margin -5.1%.
As of Jun '26, Miami International Holdings, Inc. traded at a price-to-earnings ratio of about 42.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.