MRX (Marex Group) Operating Income: $1,440 Mil (TTM As of Mar. 2026)

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MRX Marex Group Ltd MRX
17 GF Score
Price $62.72
! 9 Warning Signs
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What is Marex Group Operating Income?

Marex Group MRX +4.31% 17 Operating Income is $1,440 Mil as of Mar. 2026. GuruFocus rates MRX with a GF Score™ of 17/100. The stock has 9 warning signs investors should review.

Marex Group's Operating Income for the three months ended in Mar. 2026 was $363 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,440 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Marex Group's Operating Income for the three months ended in Mar. 2026 was $363 Mil. Marex Group's Revenue for the three months ended in Mar. 2026 was $1,333 Mil. Therefore, Marex Group's Operating Margin % for the quarter that ended in Mar. 2026 was 27.19%.

Marex Group's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Marex Group's annualized ROC % for the quarter that ended in Mar. 2026 was 5.70%. Marex Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 178.65%.


Marex Group  (NAS:MRX) Operating Income Explanation

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

Marex Group'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 )
=1450 * ( 1 - 25.03% )/( (19043.9 + 19105.4)/ 2 )
=1087.065/19074.65
=5.70 %

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))
=34675.1 - 12897.7 - ( 6480.8 - max(0, 30963.4 - 33696.9+6480.8))
=19043.9

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))
=36530.1 - 14777.7 - ( 6891.7 - max(0, 32777.5 - 35424.5+6891.7))
=19105.4

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

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

Marex Group'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 )
=1464.8/( ( (110.9 + max(928.3, 0)) + (109.1 + max(491.59999999999, 0)) )/ 2 )
=1464.8/( ( 1039.2 + 600.69999999999 )/ 2 )
=1464.8/819.95
=178.65 %

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)
=(10993.2 + 483.7 + 12594.5) - (12897.7 + 0 + 10245.4)
=928.3

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(10684.5 + 300.1 + 14285.1) - (14777.7 + 0 + 10000.4)
=491.59999999999

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. Operating Income is also linked to Operating Margin %:

Marex Group's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=362.5/1333.4
=27.19 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Marex Group Operating Income Related Terms


Marex Group Operating Income Historical Data

* Premium members only.

The historical data trend for Marex Group's Operating Income 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.

Marex Group Operating Income Chart

Marex Group Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
97.40 270.50 678.30 836.30 1,171.10

Marex Group Quarterly Data
Dec21 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income 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 239.30 100.80 94.60 881.80 362.50
MRX
17GF Score
Marex Group Ltd MRX
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Marex Group Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income 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 $1,440 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 Operating Income →
What does a Operating Income of $1,440 Mil mean?
Marex Group (MRX) has a Operating Income of $1,440 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Marex Group and its competitors.
Is Marex Group's Operating Income too high?
Marex Group's current Operating Income is $1,440 Mil. Overall, Marex Group has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Marex Group's Operating Income compare to MC and CLSK?
Marex Group's Operating Income of $1,440 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 Operating Income for a Capital Markets company?
A good Operating Income depends on the Capital Markets industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Marex Group and its competitors. Marex Group's current Operating Income is $1,440 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marex Group stock overvalued right now?
Marex Group (MRX) has a current Operating Income of $1,440 Mil. The current Operating Income is $1,440 Mil. Marex Group's overall GF Score™ is 17/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Marex Group (MRX), the current Operating Income is $1,440 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.

Marex Group Business Description

Other Exchanges 8UU:Germany
Address 155 Bishopsgate, London, GBR, EC2M 3TQ
Marex Group PLC is a financial services platform, providing liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets. The Group's operating segments are: Clearing, Agency and Execution, Market Making, Hedging and Investment Solutions, and Corporate. Maximum revenue is generated from the Agency and Execution segment, which offers liquidity and execution services to clients mainly in the energy and financial securities markets by connecting buyers and sellers in the energy markets, offering liquidity and risk management solutions for financial markets, and providing clearing, custody, capital introduction, portfolio financing, and outsourced trading services. Geographically, the Group generates maximum revenue from the United States.
17GF Score

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

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