# Miami International Holdings, Inc. (MIAX) · Edgar & Edgarette company card

> Miami International Holdings (MIAX) grew revenue 19.6% in FY2025 to $1.4 billion, operating margin 6.7% against a 24.4% median for security brokers, dealers & flotation companies, equity 70.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1438472 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/MIAX) · [JSON](https://www.pops4.com/boards/company/MIAX.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1.4B |
| Revenue growth, 1 year | 19.6% |
| Revenue growth per year | 14.5% |
| Operating margin | 6.7% (prior year -0.2%) |
| Net margin | -5.1% |
| Operating cash flow | $168M |
| Capital spending | $23M |
| Free cash flow | $145M |
| Cash | $434M |
| Long-term debt | $2M |
| Total assets | $1.3B |
| Total equity | $881M |
| Equity ÷ assets | 70.0% |
| Return on equity | -7.9% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: New ship · no warning signs
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $1.4B (FY2025), total debt $1.5M. Experience: revenue up 19.6% on the year, up 14.5% a year over 2 years; operating margin 6.7%, up from -0.2%. Soundness: equity 70.0% of assets, return on equity -7.9%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $1.3B and $1.9B next year (method v3, set from 4,599 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (10 filers, $50M+ revenue, security brokers, dealers & flotation companies): operating margin 6.7% against a 24.4% median; growth 19.6% against 18.7%.

Range logged 2026-09-27, receipt e9ba4ae10ec7f5af, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 4, latest 2026-06-17 ([filing](https://www.sec.gov/Archives/edgar/data/1438472/000143847226000030/0001438472-26-000030-index.htm))

## Recent filings

- 10-Q · filed 2026-11-02 · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000162828026068667/0001628280-26-068667-index.htm)
- 8-K · filed 2026-10-29 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000143847226000044/0001438472-26-000044-index.htm)
- 10-Q · filed 2026-08-07 · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000162828026054575/0001628280-26-054575-index.htm)
- 8-K · filed 2026-08-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000143847226000040/0001438472-26-000040-index.htm)
- 8-K · filed 2026-07-21 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000162828026049014/0001628280-26-049014-index.htm)
- 8-K · filed 2026-06-22 · 3.02 Unregistered Sales of Equity Securities · [filing](https://www.sec.gov/Archives/edgar/data/1438472/000143847226000036/0001438472-26-000036-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001438472.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1438472

## Cite

POPS4, Edgar & Edgarette: Miami International Holdings, Inc. (MIAX) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/MIAX. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.