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Miami International Holdings, Inc.

EDGAR
MIAX Current report (8-K) · filed 2026-10-29

Annual consolidated revenue for 2025: about USD 1.364B, using the latest reported figures. The previous period, 2024, was about USD 1.14B.

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Watchlist

Latest quarter

Revenue

388 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

7.17%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 27797000 USD Source
  • Revenue: 387629000 USD Source

Operating cash flow

123 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 183642000 USD Source
  • Operating Cash Flow: 60874000 USD Source

Free cash flow

106 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 183642000 USD Source
  • Operating Cash Flow: 60874000 USD Source
  • Capital Expenditure: 27992000 USD Source
  • Capital Expenditure: 11679000 USD Source
Cash and cash equivalents
660 million USD Source
Exact value

660462000 USD

Long-term debt including current maturities
1.51 million USD Source
Exact value

1514000 USD

Shares outstanding
98.6 million shares Source
Exact value

98610560 shares

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

1.47 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 339778000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 1364073000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 994639000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 369690000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 387629000 USD · 2026-04-01 – 2026-06-30 Source

Net income

142 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -102080000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -70029000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -99973000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 170224000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 44208000 USD · 2026-04-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-29.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 4 of 11 periods available· newest 2025-12-31
  • Operating income: 4 of 11 periods available· newest 2025-12-31
  • Net income: 4 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 4 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 4 of 11 periods available· newest 2025-12-31
  • Total assets: 3 of 11 periods available· newest 2025-12-31
  • Total liabilities: 3 of 11 periods available· newest 2025-12-31
  • Current assets: 3 of 11 periods available· newest 2025-12-31
  • Current liabilities: 3 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 4 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 3 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 3 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +19.6%

    Prior period

    USD 1.14 billion

    –

    Current period

    USD 1.36 billion

    –

    Exact inputs and evidence

    1364073000 − 1140072000 = 224001000 USD

    1140072000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1364073000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    -168.6%

    Prior period

    USD 102.12 million

    –

    Current period

    −USD 70.03 million

    –

    Exact inputs and evidence

    -70029000 − 102123000 = -172152000 USD

    102123000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -70029000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +50.6%

    Prior period

    USD 111.44 million

    –

    Current period

    USD 167.83 million

    –

    Exact inputs and evidence

    167833000 − 111439000 = 56394000 USD

    111439000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    167833000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -14.8%

    Prior period

    USD 26.74 million

    –

    Current period

    USD 22.79 million

    –

    Exact inputs and evidence

    22790000 − 26739000 = -3949000 USD

    26739000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    22790000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1.36 billion 100% of revenue
  • Cost of revenue USD 933.54 million 68% of revenue
  • Operating expenses USD 338.56 million 25% of revenue
  • Operating income USD 91.97 million 6.7% of revenue
  • Tax, interest and other Derived USD 162 million 12% of revenue
  • Net income −USD 70.03 million −5.1% of revenue

Cash

  • Operating cash flow USD 167.83 million 12% of revenue
  • Capital expenditure USD 22.79 million 1.7% of revenue
  • Free cash flow Derived USD 145.04 million 11% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2022 Net income was higher than operating income, so the split is not drawn.
  • 2023 Operating loss: operating costs were 100% of revenue.
  • 2024 Operating loss: operating costs were 100% of revenue.
  • 2025 Net loss: net income was −5.1% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2022 2022-01-01 – 2022-12-31797919000 792575000 Derived 5344000 -52209000 Derived 57553000 110684000 Derived
Source
2023 2023-01-01 – 2023-12-311041007000 1043873000 Derived -2866000 18024000 Derived -20890000 -65397000 Derived
Source
2024 2024-01-01 – 2024-12-311140072000 1142897000 Derived -2825000 -104948000 Derived 102123000 84700000 Derived
Source
2025 2025-01-01 – 2025-12-311364073000 1272105000 Derived 91968000 161997000 Derived -70029000 145043000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1.4B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.5B1.1B736.6M368.3M0.02022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Revenue797919000
2023Revenue1041007000
2024Revenue1140072000
2025Revenue1364073000

Revenue growth

Change in revenue from the same financial period one year earlier.

19.6% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.32.9%24.7%16.5%8.2%0.0%2022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2022Year over yearNo prior comparable period
2023Year over year30.5%
2024Year over year9.5%
2025Year over year19.6%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 6.7% 2025
Net margin -5.1% 2025
Free cash flow margin 10.6% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.15.5%9.6%3.8%-2.0%-7.9%2022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2022Operating margin0.7%
2023Operating margin-0.3%
2024Operating margin-0.2%
2025Operating margin6.7%
2022Net margin7.2%
2023Net margin-2%
2024Net margin9%
2025Net margin-5.1%
2022Free cash flow margin13.9%
2023Free cash flow margin-6.3%
2024Free cash flow margin7.4%
2025Free cash flow margin10.6%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 167.8M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.185.2M122.3M59.3M-3.6M-66.6M2022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Operating cash flow121631000
2023Operating cash flow-49195000
2024Operating cash flow111439000
2025Operating cash flow167833000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 145M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.161.9M100.9M39.8M-21.2M-82.2M2022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Free cash flow110684000
2023Free cash flow-65397000
2024Free cash flow84700000
2025Free cash flow145043000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

30% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.83%63%42%21%0%2022-12-31202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2022-12-31Liabilities / assetsNot reportedNo source recorded
2023Liabilities / assets77.2%
2024Liabilities / assets62.2%
2025Liabilities / assets30%

Current assets to current liabilities

Current assets divided by current liabilities.

2.54× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.74×2.05×1.37×0.68×0.00×2022-12-31202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
2023Current assets / current liabilities0.86×
2024Current assets / current liabilities1.41×
2025Current assets / current liabilities2.54×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2022 2022-01-01 – 2022-12-31
USD 57.55 million
Exact value

Exact value: 57553000 USD

2022-01-01 – 2022-12-31: 57553000 USD Inspect Net Income Open source
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USD 121.63 million
Exact value

Exact value: 121631000 USD

2022-01-01 – 2022-12-31: 121631000 USD Inspect Operating Cash Flow Open source
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USD 10.95 million
Exact value

Exact value: 10947000 USD

2022-01-01 – 2022-12-31: 10947000 USD Inspect Capital Expenditure Open source
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USD 110.68 million
Calculation and evidence

121631000 − 10947000 USD

Exact free cash flow: 110684000 USD

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2023 2023-01-01 – 2023-12-31
−USD 20.89 million
Exact value

Exact value: -20890000 USD

2023-01-01 – 2023-12-31: -20890000 USD Inspect Net Income Open source
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−USD 49.2 million
Exact value

Exact value: -49195000 USD

2023-01-01 – 2023-12-31: -49195000 USD Inspect Operating Cash Flow Open source
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USD 16.2 million
Exact value

Exact value: 16202000 USD

2023-01-01 – 2023-12-31: 16202000 USD Inspect Capital Expenditure Open source
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−USD 65.4 million
Calculation and evidence

-49195000 − 16202000 USD

Exact free cash flow: -65397000 USD

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2024 2024-01-01 – 2024-12-31
USD 102.12 million
Exact value

Exact value: 102123000 USD

2024-01-01 – 2024-12-31: 102123000 USD Inspect Net Income Open source
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USD 111.44 million
Exact value

Exact value: 111439000 USD

2024-01-01 – 2024-12-31: 111439000 USD Inspect Operating Cash Flow Open source
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USD 26.74 million
Exact value

Exact value: 26739000 USD

2024-01-01 – 2024-12-31: 26739000 USD Inspect Capital Expenditure Open source
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USD 84.7 million
Calculation and evidence

111439000 − 26739000 USD

Exact free cash flow: 84700000 USD

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2025 2025-01-01 – 2025-12-31
−USD 70.03 million
Exact value

Exact value: -70029000 USD

2025-01-01 – 2025-12-31: -70029000 USD Inspect Net Income Open source
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USD 167.83 million
Exact value

Exact value: 167833000 USD

2025-01-01 – 2025-12-31: 167833000 USD Inspect Operating Cash Flow Open source
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USD 22.79 million
Exact value

Exact value: 22790000 USD

2025-01-01 – 2025-12-31: 22790000 USD Inspect Capital Expenditure Open source
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USD 145.04 million
Calculation and evidence

167833000 − 22790000 USD

Exact free cash flow: 145043000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

12 filings · 2,128 latest values · 2,128 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001438472, 1438472, MIAX, edgar:1438472

Also known as MIAMI INTERNATIONAL HOLDINGS INC, MIAMI INTERNATIONAL HOLDINGS, INC., Miami International Holdings, Inc.