Marex Group plc (MRX)
NASDAQ:MRX
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Marex Group plc
(NASDAQ:MRX)
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Rating:74Outperform
Price Target:
$59.00
▲(10.90% Upside)
Action:ReiteratedDate:03/28/26
The score is driven primarily by strong operating performance and positive forward commentary, balanced by elevated leverage and cash flow volatility. Technicals are supportive but show some momentum cooling (negative MACD). Valuation is a standout positive due to the very low P/E and a modest dividend.
Positive Factors
Revenue & Profit Momentum
Sustained double-digit top-line and profit growth across 2025 demonstrates durable demand for Marex's intermediation and risk services. Scale gains improve operating leverage and ROE, supporting reinvestment in products and clients and strengthening competitive position across cycles.
Negative Factors
Elevated leverage and balance-sheet risk
A materially larger debt load increases sensitivity to funding-market moves and raises fixed interest obligations. Higher leverage constrains financial flexibility for buybacks, aggressive reinvestment or cushioning adverse trading cycles, making earnings and capital returns more fragile over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Momentum
Sustained double-digit top-line and profit growth across 2025 demonstrates durable demand for Marex's intermediation and risk services. Scale gains improve operating leverage and ROE, supporting reinvestment in products and clients and strengthening competitive position across cycles.
Read all positive factors
Marex Group plc (MRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.83B
Dividend Yield1.47%
Average Volume (3M)1.13M
Price to Earnings (P/E)8.9
Beta (1Y)0.49
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees2,425
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.14
Shares Outstanding73,094,696
10 Day Avg. Volume1,125,192
30 Day Avg. Volume1,129,916
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)2.17
Price to Sales (P/S)0.75
P/FCF Ratio4.18
Enterprise Value/Market Cap1.97
Enterprise Value/Revenue2.07
Enterprise Value/Gross Profit2.78
Enterprise Value/Ebitda6.23
Forecast
1Y Price Target
$57.86Price Target Upside8.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)4.93
Revenue Forecast (FY)$2.45B
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 internationa...
How the Company Makes Money
Marex primarily makes money by facilitating and intermediating client activity in commodities and financial markets. Key revenue streams typically include: (1) Brokerage and execution revenue: commissions and fees earned for executing client trade...
Marex Group plc Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 14, 2026
Earnings Call Sentiment Positive
The call conveys a predominantly positive tone: strong, broad-based record financial performance across segments, successful M&A and clear strategic progress (Prime, digital assets, AI). Notable headwinds include a material decline in net interest income, rising interest expense and elevated investment/compensation spend, plus short-term volatility and geopolitical risks. On balance the highlights (robust revenue/PBT growth, margin and ROE expansion, segment strength and successful integrations) substantially outweigh the lowlights, supporting confidence in continued growth.Positive Updates
Record Annual and Quarterly Financial Performance
Full year revenue grew 27% to $2,020,000,000 and adjusted profit before tax rose 30% to $418,000,000. Full year EPS increased 39% to $4.12. Q4 revenue was $572,000,000 (up 38% YoY) and Q4 adjusted PBT was $115,000,000 (up 41% YoY); Q4 EPS rose 50% to $1.14.
Negative Updates
Decline in Net Interest Income (NII)
Full-year NII fell to $153,000,000 from $227,000,000 in prior year (approx. -32.6%), driven by a ~100 basis points decline in rates offset only partially by balance growth; Q4 NII was $26,000,000, down $13,000,000 vs Q3 due to a further 40 bps Fed funds decline.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Annual and Quarterly Financial Performance
Full year revenue grew 27% to $2,020,000,000 and adjusted profit before tax rose 30% to $418,000,000. Full year EPS increased 39% to $4.12. Q4 revenue was $572,000,000 (up 38% YoY) and Q4 adjusted PBT was $115,000,000 (up 41% YoY); Q4 EPS rose 50% to $1.14.
Read all positive updates
Company Guidance
Management reiterated forward guidance to deliver sustainable profit growth of roughly 10% organic plus 5–10% from selective inorganic M&A and expressed confidence in continuing to grow through 2026, while reaffirming a $0.15 quarterly dividend (payable March 31) and a conservative balance sheet — regulatory capital $927m vs requirement $403m (230% ratio), ~$1.0bn liquidity headroom, total corporate funding $6.2bn including $500m senior debt — and noting operational/risk metrics such as average daily VaR $3.8m and realized credit loss $0.8m (<0.1% of revenues); management also flagged near-term items including the anticipated Q2 sale of Winterflood’s custody business and going live with the CFTC stablecoin pilot and expanded 24/7 Clearing digital‑asset capability in March.Marex Group plc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
52
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.63B | 2.89B | 2.35B | 1.18B | 851.70M |
| Gross Profit | 2.71B | 1.29B | 1.69B | 862.30M | 825.30M |
| EBITDA | 1.21B | 865.80M | 705.40M | 284.30M | 106.60M |
| Net Income | 308.20M | 218.00M | 128.00M | 91.60M | 56.50M |
Balance Sheet | |||||
| Total Assets | 34.68B | 24.31B | 17.61B | 15.74B | 5.26B |
| Cash, Cash Equivalents and Short-Term Investments | 13.46B | 5.21B | 4.73B | 3.22B | 758.30M |
| Total Debt | 10.17B | 6.14B | 5.39B | 5.73B | 1.29B |
| Total Liabilities | 33.41B | 23.34B | 16.84B | 15.07B | 4.79B |
| Stockholders Equity | 1.26B | 976.90M | 775.90M | 677.70M | 477.70M |
Cash Flow | |||||
| Free Cash Flow | 654.40M | 1.14B | 722.90M | 216.20M | 463.50M |
| Operating Cash Flow | 667.50M | 1.16B | 735.00M | 225.60M | 470.80M |
| Investing Cash Flow | -264.30M | -35.30M | -97.60M | -46.30M | -19.80M |
| Financing Cash Flow | -123.90M | -37.20M | -72.80M | 26.50M | -27.20M |
Marex Group plc Technical Analysis
Positive
53.20
Price Trends
41.05
Positive
39.41
Positive
36.81
Positive
Market Momentum
3.44
Negative
81.25
Negative
95.21
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 53.2 is above the 20-day moving average (MA) of 43.19, above the 50-day MA of 41.05, and above the 200-day MA of 36.81, indicating a bullish trend. The MACD of 3.44 indicates Negative momentum. The RSI at 81.25 is Negative, neither overbought nor oversold. The STOCH value of 95.21 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.14B | 5.12 | 16.16% | 0.99% | 12.52% | 16.53% | |
74 Outperform | $3.83B | 8.88 | 25.95% | 1.47% | ― | ― | |
73 Outperform | $1.22B | 9.86 | 21.89% | ― | 65.74% | 345.40% | |
70 Outperform | $2.68B | 13.60 | 17.30% | ― | ― | ― | |
68 Neutral | $376.25M | -7.54 | -33.34% | ― | 29.96% | 66.09% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $1.92B | 31.31 | ― | 1.62% | -12.44% | ― |
* Financial Sector Average
MRX
Marex Group plc
52.03
14.53
38.75%
OPY
Oppenheimer Holdings
114.10
59.56
109.22%
TIGR
Up Fintech Holding
7.23
0.58
8.72%
PWP
Perella Weinberg Partners
21.63
6.20
40.22%
FUFU
BitFuFu
2.38
-2.25
-48.60%
ETOR
eToro
36.93
-29.92
-44.76%
Marex Group plc Corporate Events
Marex Group Sets May 21 Meetings for 2026 AGM and Vote on Redomiciliation to Bermuda
Apr 10, 2026
Marex Group plc has convened its 2026 Annual General Meeting for May 21, 2026, in London, with in-person attendance and online viewing, marking its second AGM since listing on Nasdaq and giving shareholders a forum to question the board and vote o...
Marex Group Plans Bermuda Redomiciliation as It Forecasts Record Q1 2026 Results
Mar 26, 2026
On March 26, 2026, Marex Group forecast a strong first quarter, guiding revenue between $667 million and $697 million and adjusted profit before tax of $140 million to $150 million, sharply higher than the same period in 2025. Management said extr...
Marex Group Posts Record 2025 Results and Details Growth Strategy in Newly Published Annual Report
Mar 25, 2026
On March 25, 2026, Marex Group plc released its 2025 Group Annual Report and Accounts, detailing another year of record performance and its first full year as a public company on Nasdaq. Revenue rose to $2.02 billion and profit before tax climbed ...
Marex Group Posts Record Q4 and Full-Year 2025 Results on Broad-Based Growth
Mar 3, 2026
Marex Group plc reported record preliminary unaudited results for the fourth quarter and full year 2025 on March 3, 2026, underscoring the strength of its diversified model and recent acquisitions. Full-year revenue rose 27% to $2.02 billion and a...
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.