MRX Stock Analysis: Marex Ordinary Shares | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 5.351m USD | 12M Return: 158.1% | BMG5T40M1045 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 52.2M
Qual. Beats: 3
Rev. Trend: 92.9%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 2.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Marex Group plc (NASDAQ: MRX) is a London-based financial services platform company that provides liquidity, market access, and infrastructure services to clients across commodity and financial markets, with operations in the United Kingdom, the United States, and other international markets. The company sits within the Financials sector under the Investment Banking & Brokerage sub-industry and began trading on NASDAQ following its April 2024 IPO.
The business is organized into four reporting segments: Clearing; Agency and Execution; Market Making; and Hedging and Investment Solutions. Across these segments, Marex delivers execution and clearing services in metals, agricultural products, energy, fixed income, financial securities, digital assets, and equity futures and options, as well as liquidity provision in OTC energy markets, market data and analytics, and energy services spanning gas, power, environmental products, and crude oil.
The Market Making segment reflects the traditional broker-dealer model, where the firm earns revenue principally from the bid-ask spread on the instruments it quotes across commodity markets. The Hedging and Investment Solutions segment complements this by offering OTC hedging and customized derivatives, alongside risk management services for trading houses, producers and consumers, and banks and distributors across agriculture, currency, and interest rate markets.
In digital assets, Marex enables clients to construct structured notes across commodities, equities, foreign exchange, and fixed income, serving private banks, hedge funds, crypto-native trading firms, crypto ETP providers, proprietary trading firms, independent asset managers, family offices, pension funds, index providers, and corporates. Its offering includes structured notes, OTC derivatives, crypto-settled instruments, CME crypto futures, cash-and-carry strategies, and bitcoin and ethereum ETFs.
The firms proprietary technology stack includes Neon, a trading, risk, and data platform, and Agile, a commodity broking platform. Marex was incorporated in 2005 and is headquartered in London, the United Kingdom.
- Commodity volatility fuels hedging and clearing demand
- Energy and metals trading lifts market making revenue
- Digital assets expansion boosts structured notes growth
| Net Income: 684.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -2.11 > 1.0 |
| NWC/Revenue: 53.39% < 20% (prev 134.8%; Δ -81.43% < -1%) |
| CFO/TA 0.02 > 3% & CFO 667.5m > Net Income 684.8m |
| Net Debt (-5.53b) to EBITDA (1.99b): -2.77 < 3 |
| Current Ratio: 1.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (75.6m) vs 12m ago 5.49% < -2% |
| Gross Margin: 61.25% > 18% (prev 42.46%; Δ 18.80% > 0.5%) |
| Asset Turnover: 16.71% > 50% (prev 12.54%; Δ 4.16% > 0%) |
| Interest Coverage Ratio: 2.57 > 6 (EBIT TTM 1.95b / Interest Expense TTM 760.2m) |
| A: 0.08 (Total Current Assets 40.6b - Total Current Liabilities 37.3b) / Total Assets 42.1b |
| B: 0.03 (Retained Earnings 1.20b / Total Assets 42.1b) |
| C: 0.05 (EBIT TTM 1.95b / Avg Total Assets 36.7b) |
| D: 0.05 (Book Value of Equity 1.87b / Total Liabilities 40.3b) |
| Altman-Z'' = 1.01 = BB |
| DSRI: 0.60 (Receivables 12.8b/13.6b, Revenue 6.12b/3.91b) |
| GMI: 0.69 (GM 42.46% / 61.25%) |
| AQI: 0.11 (AQ_t 0.03 / AQ_t-1 0.29) |
| SGI: 1.57 (Revenue 6.12b / 3.91b) |
| TATA: 0.00 (NI 684.8m - CFO 667.5m) / TA 42.1b) |
| Beneish M = -3.75 (Cap -4..+1) = AAA |
As of October 08, 2026, the stock is trading at USD 71.88 with a total of 665,047 shares traded. Over the past week, the price has changed by +3.04%, over one month by -6.30%, over three months by +7.18% and over the past year by +158.05%.
Current recommended Stop Loss: 65.90 (which is 8.3% or 1.9 ATR below the current price).
Marex Ordinary Shares has received a consensus analysts rating of 4.38. Therefore, it is recommended to buy MRX.
- StrongBuy: 4
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 79.9 | 11.1% |
P/E Trailing = 14.4059
P/E Forward = 7.1891
P/S = 1.2482
P/B = 2.7534
Revenue TTM = 6.12b USD
EBIT TTM = 1.95b USD
EBITDA TTM = 1.99b USD
Long Term Debt = 2.76b USD (from longTermDebt, last quarter)
Short Term Debt = 8.68b USD (from shortTermDebt, last quarter)
Debt = 2.92b USD (from shortLongTermDebtTotal, last quarter) + Leases 101.6m
Net Debt = -5.53b USD (calculated: Debt 2.92b - CCE 8.45b)
Enterprise Value = 5.35b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 2.57 (Ebit TTM 1.95b / Interest Expense TTM 760.2m)
EV/FCF = 8.18x (Enterprise Value 5.35b / FCF TTM 654.4m)
FCF Yield = 12.23% (FCF TTM 654.4m / Enterprise Value 5.35b)
FCF Margin = 10.69% (FCF TTM 654.4m / Revenue TTM 6.12b)
Net Margin = 11.18% (Net Income TTM 684.8m / Revenue TTM 6.12b)
Gross Margin = 61.25% ((Revenue TTM 6.12b - Cost of Revenue TTM 2.37b) / Revenue TTM)
Gross Margin QoQ = 47.00% (prev 36.59%)
Tobins Q-Ratio = 0.13 (Enterprise Value 5.35b / Total Assets 42.1b)
Interest Expense / Debt = 26.01% (Interest Expense 760.2m / Debt 2.92b)
Taxrate = 14.70% (127.1m / 864.6m)
NOPAT = 1.66b (EBIT 1.95b * (1 - 14.70%))
Current Ratio = 1.09 (Total Current Assets 40.6b / Total Current Liabilities 37.3b)
Debt / Equity = 1.56 (Debt 2.92b / totalStockholderEquity, last quarter 1.87b)
Debt / EBITDA = -2.77 (Net Debt -5.53b / EBITDA 1.99b)
Debt / FCF = -8.45 (Net Debt -5.53b / FCF TTM 654.4m)
Total Stockholder Equity = 1.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.87% (Net Income 684.8m / Total Assets 42.1b)
RoE = 48.37% (Net Income TTM 684.8m / Total Stockholder Equity 1.42b)
RoCE = 46.71% (EBIT 1.95b / Capital Employed (Equity 1.42b + L.T.Debt 2.76b))
RoIC = 12.64% (NOPAT 1.66b / Invested Capital 13.2b)
WACC = 13.52% (E(5.35b)/V(8.27b) * Re(8.79%) + D(2.92b)/V(8.27b) * Rd(26.01%) * (1-Tc(0.15)))
Discount Rate = 8.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -2.49 | Cagr: 2.97%
[DCF] Terminal Value 56.42% ; FCFF base≈850.1m ; Y1≈745.5m ; Y5≈602.3m
[DCF] Fair Price = 150.0 (EV 5.27b - Net Debt -5.53b = Equity 10.8b / Shares 71.9m; r=13.52% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.70 | # QB: 3
Revenue Correlation: 92.89 | Revenue CAGR: 38.91% | SUE: 0.81 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.50 | Chg30d=+22.09% | Revisions=+62% | Analysts=6
EPS current Year (2026-12-31): EPS=6.13 | Chg30d=+18.74% | Revisions=+67% | GrowthEPS=+53.7% | GrowthRev=+36.4%
EPS next Year (2027-12-31): EPS=6.39 | Chg30d=+10.81% | Revisions=+70% | GrowthEPS=+4.2% | GrowthRev=+3.2%
[Analyst] Revisions Ratio: +86% (up=18, down=0)