Marex Group plc (MRX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.38	$1.64	+18.8%	—	$1.2B	—
Q1 26	$1.38	$1.48	+7.2%	—	$1.3B	—
Q4 25	$1.02	$1.13	+10.8%	—	$2.2B	—
Q3 25	$0.94	$0.96	+2.1%	—	$484.6M	—
Q2 25	$0.93	$1.02	+9.7%	—	$500.1M	—
Q1 25	$0.9	$0.91	+1.1%	—	$865.7M	—
Q4 24	$0.64	$0.76	+18.8%	—	$1.7B	—
Q3 24	$0.74	$0.76	+2.7%	—	$391.2M	—
Q2 24	$0.56	$0.9	+60.7%	—	$740M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.29	—	—	$3.6B	—
FY24	—	$2.96	—	—	$2.9B	—
FY23	—	$1.81	—	—	$2.4B	—
FY22	—	$1.29	—	—	$1.2B	—
FY21	—	$0.8	—	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY21	FY22	FY23	FY24	FY25
Revenue	$851.7M	$1.2B	$2.4B	$2.9B	$3.6B
YoY change	—	+38%	+100.1%	+23.1%	+25.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY21	FY22	FY23	FY24	FY25
Revenue	851.7M	1.2B	2.4B	2.9B	3.6B
Cost of revenue	609.5M	681.7M	1.3B	1.6B	1.9B
Gross profit	242.2M	493.6M	1B	1.3B	1.7B
Gross margin	28.4%	42%	44%	44.5%	47%
Research & development	—	—	—	—	—
Selling, general & administrative	82.5M	120.1M	182.1M	247.1M	288.8M
Operating expenses	132.2M	198.1M	319.6M	418.5M	492.9M
Operating income	97.4M	270.5M	678.3M	836.3M	1.2B
Operating margin	11.4%	23%	28.8%	28.9%	32.3%
Non-operating income, net	2.2M	20.2M	-6.2M	6.3M	11M
Pretax income	69.9M	121.6M	196.5M	295.8M	411.6M
Income tax	13.4M	23.4M	55.2M	77.8M	103.7M
Net income	56.5M	98.2M	141.3M	218M	307.7M
Net margin	6.63%	8.36%	6.01%	7.53%	8.48%
EBITDA	106.6M	282.7M	704.2M	863.4M	1.2B
EPS	0.8	1.29	1.81	2.96	4.29
Diluted EPS	0.8	1.29	1.81	2.72	4.29

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	296.6M	1.4B	675.1M	740M	391.2M	1.7B	865.7M	500.1M	484.6M	2.2B	1.3B	1.2B
Cost of revenue	—	—	411.6M	448.9M	—	—	544.7M	305.9M	292M	1B	845.5M	623.6M
Gross profit	—	—	263.5M	291.1M	—	—	321M	194.2M	192.6M	1.1B	487.9M	552.9M
Gross margin	—	—	39%	39.3%	—	—	37.1%	38.8%	39.7%	52.5%	36.6%	47%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	69.6M	80.6M	—	—	73.8M	83.7M	88.3M	-41.7M	106.7M	122.8M
Operating income	—	—	186.4M	204.7M	—	—	239.3M	100.8M	94.6M	881.8M	362.5M	416.9M
Operating margin	—	—	27.6%	27.7%	—	—	27.6%	20.2%	19.5%	40.5%	27.2%	35.4%
Non-operating income, net	—	—	100K	400K	—	—	4.1M	2.8M	4.2M	-100K	3.7M	2.5M
Pretax income	47.6M	39.4M	58.9M	80.1M	79M	77.8M	98M	103.6M	98.8M	111.2M	149.8M	158.2M
Income tax	—	—	15.3M	20.8M	—	—	25.5M	26.9M	25.6M	25.7M	37.5M	38.3M
Net income	32.4M	28.1M	43.6M	59.3M	58.4M	56.7M	72.5M	76.7M	73.2M	85.3M	112.4M	155.3M
Net margin	10.9%	1.96%	6.46%	8.01%	14.9%	3.3%	8.37%	15.3%	15.1%	3.92%	8.43%	13.2%
EBITDA	—	—	194.3M	212.8M	—	—	247.9M	109.2M	104.2M	892.5M	377.9M	430.8M
EPS	0.46	—	0.57	—	0.78	—	0.98	1.03	0.97	1.19	1.52	—
Diluted EPS	0.46	—	0.57	—	0.73	—	0.92	0.98	0.92	1.19	1.43	—

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	2.2B	2.8B	2.8B
Enterprise value	—	—	—	3.1B	6.5B	6.5B
Shares outstanding	70.8M	70.8M	70.8M	69.2M	71.7M	71.7M

Valuation

Metric	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	9.9	8.94	8.94
P/S	—	—	—	0.75	0.76	0.76
P/B	—	—	—	2.21	2.18	2.18
EV/EBITDA	—	—	—	3.57	5.4	5.4
EV/Sales	—	—	—	1.07	1.79	1.79
Earnings yield	—	—	—	10.1%	11.2%	11.2%
FCF yield	—	—	—	53%	23.5%	23.5%

Profitability

Metric	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	28.4%	42%	44%	44.5%	47%	47%
Operating margin	11.4%	23%	28.8%	28.9%	32.3%	32.3%
Net margin	6.63%	8.36%	6.01%	7.53%	8.48%	8.48%
ROE	11.8%	14.5%	18.2%	22.3%	24.4%	24.4%
ROA	1.07%	0.62%	0.8%	0.9%	0.89%	0.89%
ROIC	-67.2%	12.2%	-23%	32.4%	17.5%	17.5%
Return on tangible assets	1.18%	0.64%	0.82%	0.91%	0.9%	0.9%

Financial health

Metric	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.89	1.05	1.07	1.09	1.09	1.09
Quick ratio	0.87	1.05	1.06	1.09	1.07	1.07
Debt / equity	0.34	6.74	4.09	6.28	8.1	8.1
Debt / assets	0.03	0.29	0.18	0.25	0.3	0.3
Net debt / EBITDA	-5.58	3.91	-4.11	1.07	3.12	3.12
Interest coverage	3.65	1.74	1.42	1.55	1.54	1.54
Effective tax rate	19.2%	19.2%	28.1%	26.3%	25.2%	25.2%

Per share

Metric	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12	16.6	33.2	41.8	50.6	50.6
EPS (basic)	0.8	1.29	1.81	2.96	4.29	4.29
EPS (diluted)	0.8	1.29	1.81	2.72	4.29	4.29
Book value per share	6.75	9.57	11	14.1	17.6	17.6
FCF per share	6.54	3.05	10.2	16.5	9.03	9.03
Cash per share	10.7	48.9	85.6	75.3	90.3	90.3
Capex per share	0.05	0.05	0.13	0.17	—	—

Capital allocation

Metric	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.45%	0.31%	0.38%	0.4%	—	—
Capex / operating cash flow	-0.45%	0.12%	0.58%	-0.76%	—	—
Payout ratio	35.4%	6.72%	41.3%	35.4%	18%	18%
Dividend yield	—	—	—	3.57%	2.02%	2.02%

Yield

—

trailing twelve months

Frequency

Quarterly

Last dividend

$0.16

ex-dividend Aug 24, 2026

Payout ratio

18%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 24, 2026	$0.16
May 18, 2026	$0.16
Mar 16, 2026	$0.15
Nov 17, 2025	$0.15
Aug 26, 2025	$0.15
May 27, 2025	$0.15
Mar 17, 2025	$0.14
Nov 25, 2024	$0.14

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	758.3M	3.5B	6.1B	5.2B	6.5B
Receivables	2B	141.1M	823.8M	3.6B	11B
Inventory	80.1M	35.8M	163.4M	35.8M	483.7M
Total current assets	4.1B	15.4B	17.1B	23.8B	33.7B
Property, plant & equipment	20.9M	45.5M	57.2M	20.8M	34M
Goodwill & intangibles	460.8M	362.2M	439.2M	466M	670.8M
Total assets	5.3B	15.7B	17.8B	24.3B	34.7B
Accounts payable	3.3B	6.2B	5.9B	7.7B	11.8B
Short-term debt	146.4M	4.4B	3.1B	4.6B	7.8B
Total current liabilities	4.6B	14.6B	16B	21.8B	31B
Long-term debt	17M	167.9M	39.4M	1.6B	2.4B
Total liabilities	4.8B	15.1B	17B	23.3B	33.4B
Shareholders' equity	477.7M	677.7M	775.9M	976.9M	1.3B
Total debt	163.4M	4.6B	3.2B	6.1B	10.2B
Net debt	-548.6M	3.7B	1.7B	3.6B	7.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	6.1B	4.4B	5.8B	5.2B	5.3B	6.9B	7.4B	6.5B	6.9B	8.5B
Receivables	823.8M	1.2B	4.5B	3.6B	7.2B	10.9B	11B	11B	10.7B	9.8B
Inventory	163.4M	123M	—	35.8M	104.1M	—	179.5M	483.7M	300.1M	534.8M
Total current assets	17.1B	16.7B	13.9B	23.8B	23.8B	21.9B	32.1B	33.7B	35.4B	40.6B
Property, plant & equipment	57.2M	79M	—	20.8M	86.8M	—	88.5M	34M	109.1M	36.6M
Goodwill & intangibles	439.2M	442.2M	220M	466M	559M	282M	639.4M	670.8M	663.8M	708.6M
Total assets	17.8B	17.2B	19.5B	24.3B	24.4B	31.2B	32.9B	34.7B	36.5B	42.1B
Accounts payable	5.9B	6.5B	8.1B	7.7B	9.2B	13.4B	13.5B	11.8B	14.8B	11.2B
Short-term debt	3.1B	3.3B	2.3B	4.6B	5.3B	3.3B	6.1B	7.8B	8B	8.7B
Total current liabilities	16B	15.3B	11.1B	21.8B	21.8B	16.7B	29B	31B	32.8B	37.3B
Long-term debt	39.4M	1B	2.6B	1.6B	1.5B	5.3B	2.7B	2.4B	2.4B	2.9B
Total liabilities	17B	16.3B	18.5B	23.3B	23.3B	30.1B	31.8B	33.4B	35.2B	40.3B
Shareholders' equity	775.9M	882.3M	959.8M	976.9M	1B	1.1B	1.2B	1.3B	1.3B	1.9B
Total debt	3.2B	4.4B	5B	6.1B	6.8B	8.5B	8.8B	10.2B	10.4B	11.5B
Net debt	1.7B	2.5B	-860.5M	3.6B	4.2B	1.6B	5.7B	7.4B	7.3B	7.7B

Period	FY21	FY22	FY23	FY24	FY25
Net income	69.9M	121.6M	196.5M	295.8M	411.6M
Depreciation & amortization	10.3M	13.8M	21.9M	28.8M	36.1M
Stock-based compensation	1.2M	16.7M	20.3M	29.6M	43.5M
Change in working capital	-935.8M	2.9B	1.3B	-1.9B	-2.4B
Operating cash flow	-851.5M	2.9B	1.5B	-1.5B	667.5M
Capital expenditure	-3.8M	-3.6M	-9M	-11.7M	—
Investing cash flow	-16.3M	-40.5M	-94.5M	-27.1M	-244.5M
Dividends paid	-20M	-6.6M	-58.3M	-77.1M	-55.5M
Share repurchases	0	-7.9M	-3.1M	-19.8M	-44.1M
Financing cash flow	-27.2M	26.5M	-72.8M	-37.2M	-123.9M
Net change in cash	-895M	2.9B	1.4B	-1.6B	299.1M
Free cash flow	463.5M	216.2M	722.9M	1.1B	647.7M

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Marex Group plc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement