Miami International HOLDINGS, Inc. (MIAX) intrinsic value & 10-year financials
Miami International HOLDINGS, Inc. (MIAX) has a Graham intrinsic value of $44.90 per share. At $30.95 on Oct 17, 2026, the stock trades 31% below that value. Over the last 4 fiscal years revenue grew 14.5% a year to $1.4B, with an average return on invested capital of 6.9%.
- Graham intrinsic value
- $44.90
- Share price (Oct 17, 2026)
- $30.95
- Price vs Graham value
- 31% below
- Market cap
- $2.2B
- Revenue (FY2025)
- $1.4B
- Revenue growth (4-yr CAGR)
- 14.5%
- ROIC (10-yr avg)
- 6.9%
- Free cash flow (FY2025)
- $145.0M
MIAX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.4B | -$70.0M | -$1.00 | $145.0M | 6.7% | 25.0% |
| FY2024 | $1.1B | $102.1M | $1.39 | $84.7M | -0.2% | -1.0% |
| FY2023 | $1.0B | -$20.9M | -$0.37 | -$65.4M | -0.3% | -3.4% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MIAMI INTERNATIONAL HOLDINGS, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
MIAMI INTERNATIONAL HOLDINGS, INC. has historically struggled to out-earn its cost of capital, averaging just 6.9% ROIC.
MIAMI INTERNATIONAL HOLDINGS, INC. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MIAMI INTERNATIONAL HOLDINGS, INC. is modeled at 14.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $44.90 per share.