Miami International HoldingsMIAX -0.37%39 ROC (Joel Greenblatt) % is 702.73% as of Mar. 2026. GuruFocus rates MIAX with a GF Score™ of 39/100. The stock has 2 warning signs investors should review. Among 678 Capital Markets companies, Miami International Holdings ranks better than 64.31% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Miami International Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 702.73%.
The historical rank and industry rank for Miami International Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
MIAX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -176.77 Med: -41.1 Max: 244.79
Current: 105.04
During the past 6 years, Miami International Holdings's highest ROC (Joel Greenblatt) % was 244.79%. The lowest was -176.77%. And the median was -41.10%.
MIAX's ROC (Joel Greenblatt) % is ranked better than 64.31% of 678
companies
in the Capital Markets industry
Industry Median: 34.895
vs MIAX: 105.04
Miami International Holdings (NYSE:MIAX) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* 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 ROC (Joel Greenblatt) % Chart
MIAX vs PJT, LAZ, MKTX: ROC (Joel Greenblatt) % Comparison
For the Capital Markets subindustry, Miami International Holdings's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Miami International Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Miami International Holdings's ROC (Joel Greenblatt) % falls into.
Miami International Holdings ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 702.73% mean?
Miami International Holdings (MIAX) has a ROC (Joel Greenblatt) % of 702.73% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Miami International Holdings and its competitors. According to the industry distribution chart, Miami International Holdings ranks #242 out of 678 companies in the Capital Markets industry, placing it in the top 35.7%.
Is Miami International Holdings' ROC (Joel Greenblatt) % too high?
Miami International Holdings' current ROC (Joel Greenblatt) % is 702.73%. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.90. Miami International Holdings' value of 702.73% is 1913.8% above this industry median. Based on the distribution chart, Miami International Holdings ranks #242 out of 678 companies in the Capital Markets industry, which is above the industry midpoint. 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' ROC (Joel Greenblatt) % compare to PJT and LAZ?
According to the Capital Markets industry distribution chart, Miami International Holdings ranks #242 out of 678 companies for ROC (Joel Greenblatt) %. This puts Miami International Holdings in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 34.90. Miami International Holdings' value of 702.73% is 1913.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.90, based on 678 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Miami International Holdings's current ROC (Joel Greenblatt) % of 702.73% is 1913.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Miami International Holdings and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Miami International Holdings's current ROC (Joel Greenblatt) % is 702.73%. 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 ROC (Joel Greenblatt) % of 702.73%. The current ROC (Joel Greenblatt) % is 702.73% and 1913.8% above the Capital Markets industry median of 34.90. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Miami International Holdings (MIAX), the current ROC (Joel Greenblatt) % is 702.73% 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 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.
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