MIAMI INTERNATIONAL HOLDINGS, INC.(MIAX)— Stock Profile, AI Score & Financials
Financials · NYSE · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
MIAMI INTERNATIONAL HOLDINGS, INC. (MIAX) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores MIAX at 66.3/100 on a 32-signal composite quality model, placing it at rank #426 of 2,960 stocks — the top 25% of the AI-ranked universe. MIAX scores in the top quartile across institutional flow (97.9), balance sheet strength (83.3), earnings quality (79.7). Shareholder dilution risk is elevated at 27.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), MIAMI INTERNATIONAL HOLDINGS, INC. reports quarterly revenue of $387.6M, net income of $44.2M, an operating margin of 7.2%. Top institutional holders of MIAX by reported 13-F value include HORIZON KINETICS ASSET MANAGEMENT, BlackRock, T. Rowe Price Investment Management, based on the most recent SEC filings. MIAX trades on the NYSE exchange and files with the SEC under CIK 1438472. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MIAX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MIAMI INTERNATIONAL HOLDINGS, INC. directly from SEC EDGAR.
AI Quality Score
66.3/100
AI Rank
#426
Revenue
$387.6M
Net Income
$44.2M
Free Cash Flow
$106.5M
Operating Margin
7.2%
MIAX key financials by period
MIAMI INTERNATIONAL HOLDINGS, INC. reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$1.4B
$-70.0M
6.7%
FY 2024
10-K
$1.1B
$102.1M
-0.3%
FY 2023
10-K
$1.0B
$-20.9M
-0.3%
Institutions holding MIAX
Institutional investors reporting a position in MIAMI INTERNATIONAL HOLDINGS, INC. on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue rose 18.3% to $387.6M on a 26.8% jump in options market contracts, but a $30.0M Nasdaq litigation settlement held operating income flat at $27.8M.
Biggest Revenue Drivers
Options$316.5M+20.9% YoY
26.8% increase in Options market contracts, plus higher access fees from added member connections and expiration of MIAX Sapphire fee waivers
Equities$40.6M+0.5% YoY
MIH U.S. equities market share fell to 0.9% from 1.1% despite 9.9% industry volume growth
Biggest Revenue Drivers
Total revenue: $387.6M+18.3% YoY
Options$316.5M+20.9% YoY
26.8% increase in Options market contracts, plus higher access fees from added member connections and expiration of MIAX Sapphire fee waivers
Within Options
Transaction and clearing fees$276.6M+19.0% YoY
Equities$40.6M+0.5% YoY
MIH U.S. equities market share fell to 0.9% from 1.1% despite 9.9% industry volume growth
Futures$24.6M+6.3% YoY
Agricultural products ADV fell 28.6% on lower volatility and participant migration timing to MIAX Futures Onyx
International$5.7M+150.7% YoY
Primarily due to the TISE Acquisition completed in June 2025
Largest Expense Items
Liquidity payments$206.6M+5.6% YoY
Options liquidity payments up $13.1M on 26.8% more Options market contracts, offset by a 13.7% decrease in cost per contract
Compensation and benefits$41.0M+1.9% YoY
Higher headcount, merit increases and cash bonuses, offset by a $3.2M decrease in share-based compensation
Litigation settlement$30.0M
Loss contingency recognized on the Nasdaq matter; settlement paid July 20, 2026
Section 31 fees$23.0M+94.5% YoY
Higher average rate ($20.60 per million from April 4, 2026) and increased volume; a pass-through to the SEC
Margins: Revenues less cost of revenues rose 34.8% to $141.1M, with adjusted EBITDA margin expanding 7.5 points to 54.4%; Options adjusted EBITDA margin reached 77.8% from 72.2%.
Watch Items from the Filing
Three customers accounted for 16%, 15% and 12% of total revenue ($166.6M of $387.6M), reported primarily within the Options segment, with no contractual obligation to continue.
Equities revenue was flat at $40.6M as MIH market share fell to 0.9% from 1.1%; the segment posted a $2.3M operating loss.
Futures segment lost $12.7M at the operating line; agricultural ADV fell 28.6% and newly launched financial futures carry inverted pricing at $(1.766) revenue per contract.
CAT funding remains contested: $36.5M notes receivable net of a $26.1M credit-loss allowance, with an 11th Circuit petition pending that could halt fee recoupment.
Nasdaq litigation fully resolved on July 20, 2026 with a $30.0M payment and mutual release, leaving MIAX free to operate without a Nasdaq license.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
