Marex Group plc (MRX) AI Stock Analysis

• Market Cap: $2.88B
• Dividend Yield: 1.47%
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): 13.7
• Beta (1Y): 0.44
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 2,425
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.96
• Shares Outstanding: 71,231,705
• 10 Day Avg. Volume: 1,125,192
• 30 Day Avg. Volume: 1,129,916
• PEG Ratio: 0.22
• Price to Book (P/B): 2.56
• Price to Sales (P/S): 0.86
• P/FCF Ratio: 2.18
• Enterprise Value/Market Cap: -0.27
• Enterprise Value/Revenue: -0.29
• Enterprise Value/Gross Profit: -0.65
• Enterprise Value/Ebitda: -1.38
• 1Y Price Target: $53.83
• Price Target Upside: 33.08% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: $45.00 ▲(11.25% Upside)

Marex Group plc's strong financial performance and positive earnings call sentiment are key strengths, driving the stock's overall score. However, technical analysis indicates bearish trends, and cash flow challenges pose potential risks. The stock's reasonable valuation and dividend yield provide additional support.

Positive Factors

Sustained Revenue and Margin Improvement

Material multi-year revenue expansion alongside improving net and EBIT margins indicates a scalable business model and stronger operational leverage. Durable margin improvement supports reinvestment capacity and earnings resilience across commodity and financial client flows.

Prime Services and Clearing Growth

Strong expansion in Prime Services and steadily rising clearing client balances reflect successful product diversification and sticky fee streams. These structural client relationships boost recurring revenue, enhance cross-sell opportunities and deepen counterparty networks over the medium term.

Stronger Equity Position

An improved equity base and healthier debt metrics raise regulatory and counterparty confidence, support client-facing capital needs (clearing/prime services), and provide financial flexibility to pursue strategic M&A and geographic expansion without overreliance on short-term funding.

Negative Factors

Operating Cash Flow Collapse

A precipitous drop to zero operating cash flow is a structural red flag for internal funding capacity. It weakens the firm's ability to finance working capital, margin requirements and investments, increasing dependence on external funding and elevating liquidity and regulatory capital risk if sustained.

High Liabilities Relative to Assets

Persistently high liabilities versus assets constrain balance sheet flexibility and amplify funding and counterparty risk in stressed markets. For a clearing/brokerage business this raises potential margin/capital strain and could necessitate equity raises or limits on growth during downturns.

Market Making & Volume Vulnerability

Declines in market making and lower exchange volumes reduce trading and spread income that underpin liquidity provision profits. If structural client activity or commodity market turnover remains weak, diversified revenue streams may be less effective at offsetting cyclical trading income declines.

Marex Group plc Business Overview & Revenue Model

Company Description

Marex Group plc, a financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, 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 financial futures and options; liquidity and execution services for financial securities through trading desks that cover products, including foreign exchange, equities, fixed income, and others. It also operates as an agent to trade in OTC energy products using knowledge of the energy sector and relationships with clients for oil, power and gas, and shipping and freight products; and provides 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 commodity markets comprising agriculture, metals, energy, and currency 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. 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 headquartered in London, the United Kingdom.

How the Company Makes Money

Marex Group generates revenue primarily through transaction fees and commissions from its brokerage services, where it acts as an intermediary between buyers and sellers in various commodity markets. Key revenue streams include trading commissions from institutional clients, fees from advisory services, and income from proprietary trading activities. Additionally, the company benefits from strategic partnerships with other financial institutions, enhancing its trading capabilities and market reach. The firm's strong reputation and expertise in the commodities sector also allow it to attract a diverse client base, contributing to its overall earnings.

Marex Group plc Financial Statement Overview

Summary

Marex Group plc shows strong revenue growth and improved profitability, with a robust income statement performance. The balance sheet reflects enhanced equity strength and a favorable debt-to-equity ratio, though high liabilities require careful management. Cash flow challenges, particularly in operating cash flow, highlight potential liquidity issues that need attention.

Income Statement

Marex Group plc demonstrates strong revenue growth with a significant increase from $1.01B in 2022 to $2.36B in 2024. The company's gross profit margin remains high at 100% due to the equivalent gross profit and total revenue figures, indicating efficient cost management. The net profit margin improved to 9.25% in 2024 from 6.80% in 2023, showcasing enhanced profitability. The EBIT margin also reflects significant improvement, highlighting effective operational management. However, the absence of EBITDA data for 2024 limits the comprehensive assessment of operational performance.

Balance Sheet

The balance sheet reflects a solid financial position with increasing stockholders' equity, reaching $976.9M in 2024. The debt-to-equity ratio improved substantially, indicating a stronger equity position relative to debt. The equity ratio improved to 4.02% in 2024 from 3.69% in 2023, suggesting enhanced financial stability. However, the company operates with a high level of total liabilities relative to assets, which could pose potential risks if not managed carefully.

Cash Flow

Cash flow analysis reveals a significant decline in operating cash flow from $735M in 2023 to zero in 2024, raising concerns about cash generation capabilities. Free cash flow has also dropped to zero in 2024, indicating potential challenges in funding operations and investments internally. The absence of cash flow data for EBITDA and operating activities in 2024 further limits the ability to fully assess cash flow health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.65B	2.89B	2.35B	1.18B	851.70M	757.53M
Gross Profit	1.19B	1.29B	1.69B	862.30M	825.30M	757.53M
EBITDA	559.90M	865.80M	705.40M	284.30M	106.60M	18.56M
Net Income	191.80M	218.00M	128.00M	91.60M	56.50M	43.82M
Balance Sheet
Total Assets	31.19B	24.31B	17.61B	15.74B	5.26B	3.77B
Cash, Cash Equivalents and Short-Term Investments	6.91B	5.21B	4.73B	3.22B	758.30M	291.55M
Total Debt	8.55B	6.14B	5.39B	5.73B	1.29B	246.76M
Total Liabilities	30.08B	23.34B	16.84B	15.07B	4.79B	3.32B
Stockholders Equity	1.11B	976.90M	775.90M	677.70M	477.70M	443.79M
Cash Flow
Free Cash Flow	1.62B	1.14B	722.90M	216.20M	463.50M	-49.14M
Operating Cash Flow	1.64B	1.16B	735.00M	225.60M	470.80M	-45.78M
Investing Cash Flow	-92.70M	-35.30M	-97.60M	-46.30M	-19.80M	-31.05M
Financing Cash Flow	-113.80M	-37.20M	-72.80M	26.50M	-27.20M	150.88M

Marex Group plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 40.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

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 40.45 is above the 20-day moving average (MA) of 39.13, above the 50-day MA of 36.85, and above the 200-day MA of 37.21, indicating a bullish trend. The MACD of 0.70 indicates Positive momentum. The RSI at 66.16 is Neutral, neither overbought nor oversold. The STOCH value of 80.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRX.

Marex Group plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ETOR	75 Outperform	$2.62B	12.50	―	―	―	―
MRX	73 Outperform	$2.88B	13.68	―	1.47%	―	―
OPY	73 Outperform	$855.24M	10.99	9.64%	0.99%	12.52%	16.53%
FUFU	68 Neutral	$486.06M	7.83	38.27%	―	29.96%	66.09%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TIGR	68 Neutral	$1.62B	10.94	22.84%	―	65.74%	345.40%
PWP	53 Neutral	$1.97B	33.73	―	1.62%	-12.44%	―

Marex Group plc Corporate Events

Marex Group Reports Strong Q3 2025 Results Amid Strategic Growth

On November 6, 2025, Marex Group plc announced strong financial results for the third quarter of 2025, with revenue reaching $485 million and adjusted profit before tax increasing by 25% year-on-year to $101 million. The company’s performance highlights the success of its diversification strategy, particularly in its Prime services business, and reflects a robust growth trajectory despite a challenging operating environment. Marex also continued its disciplined M&A strategy with acquisitions like Winterflood Securities and Valcourt, enhancing its market presence and capabilities.

The most recent analyst rating on (MRX) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Marex Group plc stock, see the MRX Stock Forecast page.