MIAX (Miami International Holdings) EBIT: $61 Mil (TTM As of Mar. 2026)


MIAX Miami International Holdings Inc MIAX
39 GF Score
Price $40.84
! 2 Warning Signs
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What is Miami International Holdings EBIT?

Miami International Holdings MIAX +4.58% 39 EBIT is $61 Mil as of Mar. 2026. GuruFocus rates MIAX with a GF Score™ of 39/100. The stock has 2 warning signs investors should review.

Miami International Holdings's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $100 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $61 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Miami International Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was 34.34%. Miami International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 702.73%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Miami International Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 1.79%.


Miami International Holdings  (NYSE:MIAX) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Miami International Holdings's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=183.872 * ( 1 - 0% )/( (509.284 + 561.549)/ 2 )
=183.872/535.4165
=34.34 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1259.425 - 316.493 - ( 433.648 - max(0, 337.26 - 855.214+433.648))
=509.284

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1444.18 - 331.845 - ( 550.786 - max(0, 350.898 - 971.371+550.786))
=561.549

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Miami International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=400.368/( ( (54.505 + max(-34.153, 0)) + (59.441 + max(-64.112, 0)) )/ 2 )
=400.368/( ( 54.505 + 59.441 )/ 2 )
=400.368/56.973
=702.73 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(98.107 + 0 + 196.801) - (316.493 + 9.572 + 2.996)
=-34.153

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(106.85 + 0 + 171.8) - (331.845 + 10.397 + 0.51999999999998)
=-64.112

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Miami International Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=61.179/3410.198
=1.79 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Miami International Holdings EBIT Related Terms


Miami International Holdings EBIT Historical Data

* Premium members only.

The historical data trend for Miami International Holdings's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Miami International Holdings EBIT Chart

Miami International Holdings Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial -71.28 72.02 -3.19 119.03 -55.69

Miami International Holdings Quarterly Data
Dec20 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -16.78 29.56 -99.51 31.04 100.09

MIAX vs PJT, LAZ, MKTX: EBIT Comparison

For the Capital Markets subindustry, Miami International Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Miami International Holdings EV-to-EBIT vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Miami International Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Miami International Holdings's EV-to-EBIT falls into.


MIAX
39GF Score
Miami International Holdings Inc MIAX
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Miami International Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $61 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $61 Mil mean?
Miami International Holdings (MIAX) has a EBIT of $61 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Miami International Holdings.
Is Miami International Holdings' EBIT too high?
Miami International Holdings' current EBIT is $61 Mil. Overall, Miami International Holdings has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Miami International Holdings' EBIT compare to PJT and LAZ?
Miami International Holdings' EBIT of $61 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Capital Markets company?
A good EBIT depends on the Capital Markets industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Miami International Holdings. Miami International Holdings's current EBIT is $61 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Miami International Holdings stock overvalued right now?
Miami International Holdings (MIAX) has a current EBIT of $61 Mil. The current EBIT is $61 Mil. Miami International Holdings' overall GF Score™ is 39/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Miami International Holdings (MIAX), the current EBIT is $61 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Miami International Holdings Business Description

Address 7 Roszel Road, Suite 1A, Princeton, NJ, USA, 08540
Miami International Holdings Inc is engaged in operating regulated financial marketplaces across multiple asset classes using proprietary technology platforms. The company operates exchange markets for options, equities, futures, and international listings through its MIAX Exchanges, MIAX Futures Exchange, and the Bermuda Stock Exchange. The company operates through four reportable segments: Options, which provides trading and market data services for listed equity and ETP options; Equities, which provides trading services for U.S. equities and ETPs; Futures, which provides futures trading and clearing services through MIAX Futures; and International, which provides listing services for capital market instruments through the Bermuda Stock Exchange and The International Stock Exchange.
39GF Score

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EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$40.84
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