MIAMI INTERNATIONAL HOLDINGS, INC.
MIAXNYSEFinancials · Security Brokers, Dealers & Flotation Companies · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | |
|---|---|---|---|
| Revenue | $1.36B | $1.14B | $1.04B |
| Operating income | $92.0M | −$2.8M | −$2.9M |
| Net income | −$70.0M | $102.1M | −$20.9M |
| Total assets | $1.26B | $973.7M | — |
| Total liabilities | $378.4M | $606.0M | — |
| Equity | $881.0M | $367.6M | $163.8M |
| EPS (diluted) | $-1.00 | $1.39 | $-0.37 |
| Shares out. | 85.5M | 63.2M | 56.5M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 6.7%
- Net margin
- −5.1%
- Return on equity
- −7.9%
- Return on assets
- −5.6%
- Return on capital (ROCE)
- 10.0%
- Liabilities / assets
- 30.0%
- Debt / equity
- 0.43×
- Book value / share
- $10.30
- Revenue growth (YoY)
- 19.6%
- Net income growth (YoY)
- −168.6%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 4.00safe
- Accruals / assets
- −18.9%clean
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 warning● 6 good- Reported a net loss
- Operating margin is positive
- Revenue is growing year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Horizon Kinetics Asset Management LlcActivist (13D)May 21, 2026
- Gallagher Thomas P.Activist (13D)Aug 28, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 3.5M | 2.4 | +49.9% |
| Apr 30, 2026 | 2.4M | 2.8 | +4.8% |
| Apr 15, 2026 | 2.2M | 1.6 | -33.8% |
| Mar 31, 2026 | 3.4M | 2.6 | +34.7% |
| Mar 13, 2026 | 2.5M | 1.8 | +16.2% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 6, 2026
- Director / officer changeApr 27, 2026
- Director / officer changeApr 9, 2026
- Director / officer changeMar 26, 2026
- Unregistered equity saleMar 2, 2026
- Results of operationsFeb 25, 2026
- Unregistered equity saleFeb 20, 2026
- Unregistered equity saleFeb 12, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.