Financial Services · Financial - Capital Markets
Price
$64.47
Market Cap
$4.6B
Employees
3,224
Beta
0.00
Avg Volume
1,135,017
CEO
Ian Theo Lowitt
Business Description
Marex Group plc, a financial services platform company, provides liquidity, market access, and infrastructure services to clients in the commodity and financial markets in the United Kingdom, the United States, and internationally. It operates through Clearing, Agency and Execution, Market Making, and Hedging and Investment Solutions segments. The company offers execution and clearing services in metals, agricultural products, energy and fixed income, financial securities, digital assets, and equity futures and options; liquidity, execution, and risk management solutions to financial markets. It also provides liquidity to clients in the OTC energy markets; market data, analytics, and market commentary; energy services, including gas, power, environmental, and crude oil markets; and market-making services across commodities markets, such as metals, agricultural products, and energy markets. In addition, the company offers OTC traded hedging and customized OTC derivatives solutions; and risk management solutions across a spectrum of markets, including agriculture, currency, and interest rate markets for trading houses, producers and consumers, and banks and distributors. Further, it engages in the structured notes business, which allows investors to build structured notes across asset classes, including commodities, equities, foreign exchange, and fixed-income products for private banks, independent asset managers, pension funds, and corporates; and a portfolio of structured Notes, including auto-callable, fixed, stability, and credit-linked notes. Additionally, the company offers technology platforms, including Neon, a trading, risk, and data platform; and Agile, a commodity broking platform. Marex Group plc was incorporated in 2005 and is based in London, the United Kingdom.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
15.61
Stock Price: $64.47
EPS (Diluted): 4.13
EPS (Diluted): 4.13
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.17
Stock Price: $64.47
Total Equity: $1.26B
Shares: 76,126,884
Total Equity: $1.26B
Shares: 76,126,884
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
5.46
Market Cap: $4.64B
Total Debt: $10.14B
Cash: $6.38B
EBITDA: $1.21B
Total Debt: $10.14B
Cash: $6.38B
EBITDA: $1.21B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$6.6B
Market Cap: $4.64B
Total Debt: $10.14B
Cash: $6.38B
Total Debt: $10.14B
Cash: $6.38B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
74.7%
Gross Profit: $2.71B
Revenue: $3.63B
Revenue: $3.63B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
32.0%
Operating Income: $1.16B
Revenue: $3.63B
Revenue: $3.63B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
8.5%
Net Income: $308.20M
Revenue: $3.63B
Revenue: $3.63B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
24.4%
Net Income: $308.20M
Total Equity: $1.26B
Total Equity: $1.26B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
17.3%
Operating Income: $1.16B
Tax Rate: 25.2%
Equity: $1.26B
Total Debt: $10.14B
Cash: $6.38B
Tax Rate: 25.2%
Equity: $1.26B
Total Debt: $10.14B
Cash: $6.38B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.16
Current Assets: $24.53B
Current Liabilities: $7.75B
Current Liabilities: $7.75B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
8.02
Short-Term Debt: $7.81B
Long-Term Debt: $2.33B
Total Debt: $10.14B
Total Equity: $1.26B
Long-Term Debt: $2.33B
Total Debt: $10.14B
Total Equity: $1.26B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$47.68
Revenue: $3.63B
Shares: 76,126,884
Shares: 76,126,884
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$16.60
Total Equity: $1.26B
Shares: 76,126,884
Shares: 76,126,884
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$8.60
Operating CF: $667.50M
CapEx: -$13.10M
Shares: 76,126,884
CapEx: -$13.10M
Shares: 76,126,884
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.0%
Last Dividend: N/A
Stock Price: $64.47
Stock Price: $64.47
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $308.20M
Net Income: $308.20M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MRX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $851.7M | $1.2B | $2.4B | $2.9B | $3.6B |
| Cost of Revenue | $609.5M | $313.0M | $659.4M | $1.6B | $917.7M |
| Gross Profit | $825.3M | $862.3M | $1.7B | $1.3B | $2.7B |
| Operating Expenses | $144.8M | $223.1M | $798.8M | $450.9M | $1.6B |
| Operating Income | $68.6M | $270.5M | $683.5M | $836.3M | $1.2B |
| Net Income | $56.5M | $91.6M | $128.0M | $218.0M | $308.2M |
| EBITDA | $106.6M | $284.3M | $705.4M | $865.8M | $1.2B |
| EPS | $0.80 | $1.29 | $1.94 | $2.96 | $4.13 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $712.0M | $910.1M | $1.5B | $2.6B | $6.4B |
| Total Current Assets | $4.1B | $15.4B | $16.9B | $23.8B | $24.5B |
| Total Assets | $5.3B | $15.7B | $17.6B | $24.3B | $34.7B |
| Current Liabilities | $4.6B | $14.6B | $15.9B | $21.8B | $7.8B |
| Long-Term Debt | $136.6M | $472.1M | $907.9M | $1.5B | $2.3B |
| Total Liabilities | $4.8B | $15.1B | $16.8B | $23.3B | $33.4B |
| Total Equity | $477.7M | $677.7M | $775.9M | $976.9M | $1.3B |
| Retained Earnings | $346.6M | $455.3M | $555.3M | $722.4M | $982.0M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $470.8M | $225.6M | $735.0M | $1.2B | $667.5M |
| Capital Expenditure | -$7.3M | -$9.4M | -$12.1M | -$19.9M | -$13.1M |
| Free Cash Flow | $463.5M | $216.2M | $722.9M | $1.1B | $654.4M |
| Acquisitions (net) | -$12.5M | -$36.9M | -$90.3M | -$11.0M | -$241.6M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$7.9M | -$3.1M | -$19.8M | -$44.1M |
| Net Change in Cash | $420.5M | $198.1M | $573.4M | $1.1B | $7.3B |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:59am (22h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$2.0B $1.8B – $2.0B
|
$2.5B $2.4B – $2.6B
|
$2.8B $2.7B – $2.8B
|
$2.9B $2.7B – $3.1B
|
| EBITDA |
$511.8M $463.6M – $514.3M
|
$655.9M $630.1M – $681.7M
|
$715.2M $689.0M – $738.8M
|
$765.9M $693.8M – $815.7M
|
| Net Income |
$296.9M $293.8M – $299.2M
|
$396.1M $356.9M – $426.5M
|
$439.7M $389.8M – $468.2M
|
$491.2M $431.1M – $532.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +38.0% | +100.1% | +23.1% | +25.4% |
| Gross Profit Growth | +4.5% | +96.3% | -24.0% | +110.7% |
| Operating Income Growth | +294.3% | +152.7% | +22.4% | +38.8% |
| Net Income Growth | +62.1% | +39.7% | +70.3% | +41.4% |
| EBITDA Growth | +166.7% | +148.1% | +22.7% | +39.5% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-18 | $0.16 | 2026-05-01 | 2026-05-18 | 2026-06-03 |
| 2026-03-16 | $0.15 | 2026-02-27 | 2026-03-16 | 2026-03-31 |
| 2025-11-17 | $0.15 | 2025-11-04 | 2025-11-17 | 2025-12-03 |
| 2025-08-26 | $0.15 | 2025-07-24 | 2025-08-26 | 2025-09-11 |
| 2025-05-27 | $0.15 | 2025-05-13 | 2025-05-27 | 2025-06-10 |
| 2025-03-17 | $0.14 | 2025-03-06 | 2025-03-17 | 2025-03-31 |
| 2024-11-25 | $0.14 | 2024-11-07 | 2024-11-25 | 2024-12-10 |
| 2024-08-30 | $0.14 | 2024-07-23 | 2024-08-30 | 2024-09-16 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MRX — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30