MIAX - Public Comps and Valuation Multiples

MIAX Overview

About MIAX

Miami International Holdings Inc is a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Its MIAX Exchange marketplaces are enabled by its in-house built, proprietary technology. It maintains a broad portfolio of U.S. exchange and clearing licenses, in both securities and futures. The company operates markets across a diverse number of asset classes including options and cash equities as well as futures and options on futures.

Founded

2007

HQ

Employees

433

Website

miaxglobal.com

Sectors

Stock Exchanges

Financials

LTM Revenue $428M

LTM EBITDA $190M

EV

$3.4B

Valuation Multiples

Multiples.vc

Valuation Multiples for 15K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

MIAX Financials

As of January 2026, MIAX reported last 12-month revenue of $428M and EBITDA of $190M.

In the same period, MIAX generated $423M in LTM gross profit and -$60.7M in net income.

See MIAX valuation multiples based on analyst estimates

MIAX P&L

In the most recent fiscal year, MIAX reported revenue of $1.1B and EBITDA of $142M.

MIAX expects next 12-month revenue of XXX and NTM EBITDA of XXX

See MIAX valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$428M	XXX	$1.1B	XXX	XXX	XXX
Gross Profit	$423M	XXX	$276M	XXX	XXX	XXX
Gross Margin	99%	XXX	24%	XXX	XXX	XXX
EBITDA	$190M	XXX	$142M	XXX	XXX	XXX
EBITDA Margin	44%	XXX	12%	XXX	XXX	XXX
EBIT	$110M	XXX	-$2.8M	XXX	XXX	XXX
EBIT Margin	26%	XXX	0%	XXX	XXX	XXX
Net Profit	-$60.7M	XXX	$102M	XXX	XXX	XXX
Net Margin	-14%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

.seo-only-financials-wrapper { position: static; left: auto; width: auto; height: auto; overflow: visible; }

Financial performance metrics for MIAX including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $428M. EBITDA for the last twelve months was $190M. In the most recent fiscal year, MIAX achieved $1.1B in revenue and $142M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$428M	Analyst estimates available to subscribers	$1.1B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$423M	Analyst estimates available to subscribers	$276M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	98.8% gross margin	Analyst estimates available to subscribers	24.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$190M	Analyst estimates available to subscribers	$142M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	44.4% EBITDA margin	Analyst estimates available to subscribers	12.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$110M	Analyst estimates available to subscribers	-$2.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	25.8% EBIT margin	Analyst estimates available to subscribers	-0.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$60.7M	Analyst estimates available to subscribers	$102M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-14.2% net profit margin	Analyst estimates available to subscribers	9.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for MIAX

This financial data table provides comprehensive performance metrics for MIAX, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

MIAX generated $428M in revenue over the last twelve months.
The company achieved $190M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $423M.
Net income over the last twelve months reached -$60.7M.

Fiscal Year Performance

In the most recent fiscal year, MIAX reported $1.1B in total revenue.
Fiscal year EBITDA was $142M.
The company maintained a gross profit margin of 24.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 12.5%.
Net profit margin reached 9.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for MIAX. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

MIAX Stock Performance

MIAX has current market cap of $3.8B, and EV of $3.4B.

Market Cap Evolution

MIAX Stock Data

As of February 25, 2026, MIAX's stock price is $42.

See MIAX trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$3.4B	$3.8B	XXX	XXX	XXX	XXX	$1.69

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Start Free Trial

MIAX Valuation Multiples

MIAX's trades at 7.9x EV/Revenue multiple, and 17.8x EV/EBITDA.

See valuation multiples for MIAX and 15K+ public comps

MIAX Financial Valuation Multiples

As of February 25, 2026, MIAX has market cap of $3.8B and EV of $3.4B.

Equity research analysts estimate MIAX's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

MIAX has a P/E ratio of -62.1x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$3.8B	XXX	$3.8B	XXX	XXX	XXX
EV (current)	$3.4B	XXX	$3.4B	XXX	XXX	XXX
EV/Revenue	7.9x	XXX	7.9x	XXX	XXX	XXX
EV/EBITDA	17.8x	XXX	17.8x	XXX	XXX	XXX
EV/EBIT	30.6x	XXX	30.6x	XXX	XXX	XXX
EV/Gross Profit	8.0x	XXX	n/a	XXX	XXX	XXX
P/E	-62.1x	XXX	-62.1x	XXX	XXX	XXX
EV/FCF	28.4x	XXX	28.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Get MIAX Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Start Free Trial

MIAX Margins & Growth Rates

MIAX's last 12 month revenue growth is 18%

MIAX's revenue per employee in the last FY averaged $2.6M, while opex per employee averaged $0.6M for the same period.

MIAX's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

MIAX's rule of X is 90% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for MIAX and other 15K+ public comps

MIAX Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	18%	XXX	16%	XXX	XXX	XXX
EBITDA Margin	44%	XXX	44%	XXX	XXX	XXX
EBITDA Growth	19%	XXX	341%	XXX	XXX	XXX
Rule of 40	19%	XXX	63%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	90%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$2.6M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.6M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	0%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	24%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry

Start Free Trial