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Marex Group plc
(NASDAQ:MRX)
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Rating:76Outperform
Price Target:
$81.00
▲(14.33% Upside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by strong operating performance (fast growth and solid profitability) and favorable technical momentum (price above major moving averages with positive MACD). Offsetting factors are balance-sheet risk from meaningfully higher leverage and only average valuation support (mid-teens P/E and modest yield). The latest earnings call adds confidence via upbeat guidance and strong capital/liquidity messaging, despite near-term headwinds like NII pressure and higher expenses.
Positive Factors
Sustained Revenue and Profit Growth
Marex is delivering rapid growth across multiple periods, while expanding margins show operating leverage and a growing contribution from higher-margin infrastructure businesses.
Negative Factors
Elevated Balance-Sheet Leverage
Higher leverage increases sensitivity to funding costs, collateral demands and market stress. It could constrain financial flexibility if trading conditions weaken or client liquidity needs rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Profit Growth
Marex is delivering rapid growth across multiple periods, while expanding margins show operating leverage and a growing contribution from higher-margin infrastructure businesses.
Read all positive factors
Marex Group plc (MRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.10B
Dividend Yield0.86%
Average Volume (3M)883.20K
Price to Earnings (P/E)18.4
Beta (1Y)0.39
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees3,331
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)3.93
Shares Outstanding71,930,870
10 Day Avg. Volume683,916
30 Day Avg. Volume883,203
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)2.17
Price to Sales (P/S)0.75
P/FCF Ratio4.18
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$79.71Price Target Upside12.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)5.99
Revenue Forecast (FY)$2.70B
Marex Group plc Business Overview & Revenue Model
Company 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 thr...
How the Company Makes Money
Marex makes money primarily by facilitating trading and risk management for clients across commodities and financial markets and by providing clearing and related services. Key revenue streams typically include: (1) Brokerage and execution revenue...
Marex Group plc Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized strong, broad-based growth: record revenues, substantial adjusted profit expansion, margin improvement, high ROE, deepening client relationships, successful M&A integration, and a fortified balance sheet and liquidity position. Principal near-term challenges are lower exchange volumes versus Q1, pressure on group NII from higher interest expense and liquidity deployment, elevated operating expenses from investment and compensation, and some outstanding integration work and one-off items that affect comparability. Overall, the positive operational momentum, large proportion of organic growth, strong capital/liquidity metrics and demonstrated M&A execution outweigh the listed challenges.Positive Updates
Record Quarter and Strong Top-Line Growth
Q2 2026 revenue increased 39% year-on-year to $696 million, delivering the firm's sixth record profit quarter since IPO; first-half revenue was $1.39 billion.
Negative Updates
Exchange Volumes and Market Backdrop
Volumes on key exchanges declined meaningfully (down 17% versus Q1); market volatility moderated and interest rates were flat, which reduced some trading activity versus the exceptional Q1 environment.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarter and Strong Top-Line Growth
Q2 2026 revenue increased 39% year-on-year to $696 million, delivering the firm's sixth record profit quarter since IPO; first-half revenue was $1.39 billion.
Read all positive updates
Company Guidance
Management guided that it expects to continue growing at least toward the high end of its 10–20% target range (historically ~80% of Q2 YoY profit growth was organic with M&A contributing ~20%), sees Q2/H1 operating momentum continuing into July/August and expects BrightPoint to close late‑2026/early‑2027 at a low‑single‑digit premium multiple and to be accretive via internalization and cross‑selling; key operating and financial reference points cited were Q2 revenue $696m and adjusted PBT $166m (Q2 adj PBT margin ~23.8%), H1 revenue $1.39bn and H1 adj PBT $319m (H1 adj EPS $3.29, Q2 adj EPS $1.72, TTM reported EPS $5.72), adjusted ROE ~37.8%, clearing avg client balances $19.1bn (up from $14bn in Q4 and $16bn in Q1) with ~$1bn net new balances YTD, total assets $42.1bn, funding sources $8.1bn and liquidity headroom $1.8bn after issuing $500m hybrid and $500m senior notes, RAC ~12% (above the 10% strong threshold), and risk/operational metrics including avg daily VaR $5.8m, 58 days >$3m profit (25% of trading days), 11 loss days (4%), and 87% of trading days profitable; management said margins are comfortable around the mid‑20s and could edge higher slowly and steadily over time.Marex Group plc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
52
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.16B | 3.63B | 2.89B | 2.35B | 1.18B | 851.70M |
| Gross Profit | 4.55B | 2.71B | 1.29B | 1.69B | 862.30M | 825.30M |
| EBITDA | 1.10B | 1.21B | 865.80M | 705.40M | 284.30M | 106.60M |
| Net Income | 499.20M | 308.20M | 218.00M | 128.00M | 91.60M | 56.50M |
Balance Sheet | ||||||
| Total Assets | 42.13B | 34.68B | 24.31B | 17.61B | 15.74B | 5.26B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 13.46B | 5.21B | 4.73B | 3.22B | 758.30M |
| Total Debt | 2.82B | 10.23B | 6.14B | 5.39B | 5.73B | 1.29B |
| Total Liabilities | 40.26B | 33.41B | 23.34B | 16.84B | 15.07B | 4.79B |
| Stockholders Equity | 1.87B | 1.26B | 976.90M | 775.90M | 677.70M | 477.70M |
Cash Flow | ||||||
| Free Cash Flow | -264.50M | 654.40M | 1.14B | 722.90M | 216.20M | 463.50M |
| Operating Cash Flow | -260.20M | 667.50M | 1.16B | 735.00M | 225.60M | 470.80M |
| Investing Cash Flow | -196.20M | -264.30M | -35.30M | -97.60M | -46.30M | -19.80M |
| Financing Cash Flow | -43.50M | -123.90M | -37.20M | -72.80M | 26.50M | -27.20M |
Marex Group plc Technical Analysis
Positive
70.85
Price Trends
65.51
Positive
59.58
Positive
48.85
Positive
Market Momentum
2.16
Negative
60.70
Neutral
46.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRX, the sentiment is Positive. The current price of 70.85 is above the 20-day moving average (MA) of 67.42, above the 50-day MA of 65.51, and above the 200-day MA of 48.85, indicating a bullish trend. The MACD of 2.16 indicates Negative momentum. The RSI at 60.70 is Neutral, neither overbought nor oversold. The STOCH value of 46.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRX.
Marex Group plc Risk Analysis
Marex Group plc disclosed 4 risk factors in its most recent earnings report. Marex Group plc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Marex Group plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.03B | 8.40 | 13.81% | ― | 48.35% | 37.83% | |
76 Outperform | $5.10B | 18.35 | 25.95% | 0.93% | ― | ― | |
70 Outperform | $2.50B | 10.14 | 18.97% | ― | 9.87% | 32.48% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $1.23B | 11.87 | 10.71% | 1.59% | 20.97% | 16.24% | |
54 Neutral | $1.56B | 50.54 | -14.08% | 1.79% | -20.87% | -66.62% | |
42 Neutral | $248.31M | -1.99 | -81.89% | ― | 4.33% | -343.00% |
* Financial Sector Average
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Marex Group plc Corporate Events
Marex Group Posts Record Q2 2026 Results and Completes Bermuda Redomiciliation
Aug 12, 2026
On August 12, 2026, Marex Group Limited reported preliminary unaudited results for the second quarter and first half of 2026, highlighting record revenue and profitability driven by strong structural growth and higher-margin infrastructure busines...
Marex Completes Bermuda Redomiciliation and Assumes Outstanding Debt Obligations
Jul 6, 2026
On July 1, 2026, Marex completed a redomiciliation, installing Bermuda-based Marex Group Limited as the new parent of the group, with former U.K. parent Marex Group plc becoming wholly owned and renamed Marex UK Holdings Limited after conversion t...
Marex Group Completes Bermuda Redomiciliation and Lists New Holding Company on Nasdaq
Jul 1, 2026
Marex Group plc completed a court-approved redomiciliation on July 1, 2026, creating Marex Group Limited as the new Bermuda-incorporated parent of the Marex group. Existing holders of Marex ordinary shares received New Marex ordinary shares on a o...
Marex Wins Court Approval to Redomicile Holding Company to Bermuda
Jun 26, 2026
Marex Group plc secured approval on June 26, 2026, from the High Court of Justice of England and Wales for a statutory scheme of arrangement that will shift its parent holding company from the U.K. to Bermuda. The court decision follows shareholde...
Marex Group Sets Court Date for Bermuda Redomiciliation Plan
Jun 18, 2026
Marex Group plc has set June 26, 2026 as the date for a High Court hearing in London to seek sanction of a scheme of arrangement with its shareholders, underpinning its proposed redomiciliation from the United Kingdom to Bermuda. If approved, the ...
Marex Raises $500 Million in Hybrid Notes to Refinance Capital and Fund Acquisitions
Jun 9, 2026
On 9 June 2026, Marex Group plc completed a U.S.$500 million offering of perpetual subordinated resettable fixed rate hybrid notes, commonly treated as hybrid capital. The company plans to use the proceeds for general corporate purposes, including...
Marex Group Adds Fintech Entrepreneur Georges Assi to Board and Risk Committee
Jun 8, 2026
Marex Group plc, a diversified global financial services platform listed on Nasdaq, provides clearing, execution, market making, hedging and investment solutions across global commodity and financial markets, with strong positions in metals, energ...
Marex Shareholders Back AGM Resolutions and Redomiciliation Plan to Bermuda
May 22, 2026
Marex Group plc held its Annual General Meeting on 21 May 2026 in London, where shareholders approved all resolutions set out in the AGM notice, including both ordinary and special resolutions, following polls on each item. These approvals confirm...
Marex Secures Bondholder Consent to Amend 2029 Notes Ahead of Bermuda Redomiciliation
May 19, 2026
Marex Group plc, a diversified global financial services platform, has been reorganizing its capital structure and note documentation to support a planned change of legal domicile from England and Wales to Bermuda. The company already issues multi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.