NASDAQ : MRX
Marex Group plc — Financial statements
Financials · Capital Markets · United Kingdom
Last price 65.05 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.71B
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Financial statements
Marex Group plc (MRX) reported revenue of 3.49B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 1.04B | 912.80M | 765.20M | 591.80M | 194.40M | 23.10M |
| Total Interest Expense | 907.10M | 760.20M | 538.10M | 470.20M | 165.00M | 26.40M |
| Net Interest Income | 135.20M | 152.60M | 227.10M | 121.60M | 29.40M | -3.30M |
| Brokerage Commission | 2.06B | 1.82B | 1.62B | 1.34B | 651.00M | 573.70M |
| Other Revenue | 1.29B | 894.00M | 511.50M | 418.10M | 329.90M | 254.90M |
| Revenue | 3.49B | 2.87B | 2.36B | 1.88B | 1.01B | 825.30M |
| Salaries & Employee Benefits | 1.45B | 1.23B | 965.70M | 768.70M | 437.40M | 358.30M |
| Cost of Services Provided | 1.07B | 869.90M | 787.70M | 660.50M | 311.00M | 295.20M |
| Other Operating Expenses | 392.80M | 322.20M | 280.30M | 214.40M | 136.00M | 92.10M |
| Total Operating Expenses | 2.96B | 2.45B | 2.06B | 1.68B | 907.70M | 756.70M |
| Operating Income | 524.80M | 416.30M | 295.20M | 204.30M | 102.60M | 68.60M |
| Other Non-Operating Income (Expenses) | 10.30M | 7.40M | 6.30M | 3.40M | 2.80M | 1.90M |
| EBT Excluding Unusual Items | 535.10M | 423.70M | 301.50M | 208.50M | 105.10M | 70.80M |
| Merger & Restructuring Charges | -17.10M | -15.70M | -5.70M | -1.60M | -1.20M | -900.00K |
| Impairment of Goodwill | -10.70M | -53.90M | ||||
| Other Unusual Items | 3.60M | 300.00K | 71.60M | |||
| Pretax Income | 518.00M | 411.60M | 295.80M | 196.50M | 121.60M | 69.90M |
| Income Tax Expense | 127.10M | 103.70M | 77.80M | 55.20M | 23.40M | 13.40M |
| Earnings From Continuing Ops. | 390.90M | 307.90M | 218.00M | 141.30M | 98.20M | 56.50M |
| Earnings From Discontinued Ops. | 35.30M | -200.00K | ||||
| Net Income to Company | 426.20M | 307.70M | 218.00M | 141.30M | 98.20M | 56.50M |
| Minority Interest in Earnings | -200.00K | -500.00K | ||||
| Net Income | 426.00M | 307.20M | 218.00M | 141.30M | 98.20M | 56.50M |
| Preferred Dividends & Other Adjustments | 14.90M | 13.30M | 13.30M | 13.30M | 6.60M | |
| Net Income to Common | 411.10M | 293.90M | 204.70M | 128.00M | 91.60M | 56.50M |
| Shares Outstanding (Basic) | 71.83M | 71.35M | 69.23M | 66.02M | 66.05M | 58.76M |
| Shares Outstanding (Diluted) | 76.62M | 76.13M | 75.28M | 70.32M | 67.57M | 60.87M |
| EPS (Basic) | 5.72 | 4.12 | 2.96 | 1.94 | 1.39 | 0.96 |
| EPS (Diluted) | 5.37 | 3.86 | 2.72 | 1.82 | 1.36 | 0.93 |
| Free Cash Flow | 427.50M | 654.40M | 1.15B | 726.00M | 222.00M | 467.00M |
| Free Cash Flow Per Share | 5.58 | 8.60 | 15.30 | 10.32 | 3.29 | 7.67 |
| Dividend Per Share | 0.75 | 0.59 | 0.28 | 0.41 | 0.28 | |
| Operating Margin | 15.04% | 14.51% | 12.53% | 10.85% | 10.15% | 8.31% |
| Profit Margin | 11.78% | 10.24% | 8.69% | 6.80% | 9.07% | 6.85% |
| Free Cash Flow Margin | 12.25% | 22.80% | 48.87% | 38.57% | 21.97% | 56.58% |
| Effective Tax Rate | 24.54% | 25.19% | 26.30% | 28.09% | 19.24% | 19.17% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.85B | 2.88B | 2.56B | 1.48B | 910.10M | 712.00M |
| Short-Term Investments | 6.10B | 5.98B | 4.27B | 5.70B | 6.24B | 144.30M |
| Trading Asset Securities | 4.26B | 2.91B | 1.39B | 845.20M | 480.80M | 496.50M |
| Accounts Receivable | 9.84B | 10.99B | 6.25B | 4.37B | 4.69B | 2.02B |
| Other Receivables | 27.60M | 27.60M | 219.10M | 138.00M | 5.50M | 10.30M |
| Property, Plant & Equipment | 115.70M | 110.90M | 80.70M | 57.20M | 45.50M | 24.90M |
| Goodwill | 261.80M | 237.40M | 176.50M | 163.60M | 155.50M | 208.90M |
| Other Intangible Assets | 92.50M | 98.00M | 56.50M | 56.00M | 25.60M | 17.50M |
| Investments in Debt & Equity Securities | 138.50M | 285.70M | 721.40M | 635.50M | 432.90M | 125.20M |
| Other Current Assets | 16.02B | 10.32B | 8.47B | 3.79B | 2.58B | 616.50M |
| Long-Term Deferred Tax Assets | 48.50M | 30.60M | 46.70M | 21.40M | 7.60M | 4.00M |
| Other Long-Term Assets | 892.90M | 370.10M | 46.10M | 300.40M | 139.10M | 805.60M |
| Total Assets | 42.13B | 34.68B | 24.31B | 17.61B | 15.74B | 5.26B |
| Accounts Payable | 11.75B | 10.06B | 8.66B | 6.38B | 6.65B | 3.29B |
| Accrued Expenses | 687.90M | 590.70M | 478.20M | 390.20M | ||
| Short-Term Debt | 8.40B | 6.65B | 3.21B | 3.52B | 4.69B | 339.80M |
| Current Portion of Long-Term Debt | 4.09B | 3.39B | 2.12B | 1.31B | 823.70M | 990.10M |
| Current Portion of Leases | 12.90M | 9.90M | 10.50M | 13.20M | 6.80M | 6.00M |
| Other Current Liabilities | 12.37B | 10.25B | 7.26B | 4.27B | 2.39B | 900.00K |
| Long-Term Debt | 2.82B | 2.35B | 1.48B | 907.90M | 472.10M | 136.60M |
| Long-Term Leases | 88.70M | 87.40M | 67.00M | 39.40M | 32.10M | 17.00M |
| Long-Term Deferred Tax Liabilities | 12.90M | 14.00M | 4.50M | 3.70M | 100.00K | 3.20M |
| Total Liabilities | 40.26B | 33.41B | 23.34B | 16.84B | 15.07B | 4.79B |
| Common Stock | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K |
| Additional Paid-In Capital | 227.20M | 227.20M | 202.60M | 134.30M | 134.30M | 134.30M |
| Retained Earnings | 1.20B | 982.00M | 722.40M | 555.30M | 455.30M | 346.60M |
| Comprehensive Income & Other | 497.80M | 113.00M | 75.00M | 96.00M | 95.90M | -3.30M |
| Total Common Equity | 1.87B | 1.26B | 976.90M | 775.90M | 677.70M | 477.70M |
| Minority Interest | -2.00M | -200.00K | ||||
| Shareholders' Equity | 1.87B | 1.26B | 976.90M | 775.90M | 677.70M | 477.70M |
| Total Liabilities & Equity | 42.13B | 34.68B | 24.31B | 17.61B | 15.74B | 5.26B |
| Total Debt | 15.42B | 12.49B | 6.89B | 5.79B | 6.02B | 1.49B |
| Net Cash (Debt) | -1.20B | -724.70M | 1.33B | 2.24B | 1.61B | -136.70M |
| Net Cash Per Share | -15.72 | -9.52 | 17.70 | 31.85 | 23.80 | -2.25 |
| Filing Date Shares Outstanding | 72.35M | 71.74M | 70.29M | 58.61M | 60.63M | 60.63M |
| Total Common Shares Outstanding | 72.35M | 71.74M | 70.29M | 58.61M | 60.63M | 60.63M |
| Working Capital | 3.24B | 2.58B | 1.41B | 492.80M | 375.80M | -551.60M |
| Book Value Per Share | 18.94 | 16.26 | 12.51 | 11.57 | 9.57 | 7.88 |
| Tangible Book Value | 1.52B | 928.40M | 743.90M | 556.30M | 496.60M | 251.30M |
| Tangible Book Value Per Share | 14.04 | 11.58 | 9.19 | 7.83 | 6.58 | 4.14 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 426.00M | 307.20M | 218.00M | 141.30M | 98.20M | 56.50M |
| Depreciation & Amortization, Total | 24.90M | 18.30M | 23.50M | 21.90M | 13.80M | 10.30M |
| Gain (Loss) On Sale of Investments | 111.10M | 222.00M | ||||
| Stock-Based Compensation | 44.80M | 43.50M | 29.60M | 20.30M | 16.70M | 1.20M |
| Change in Accounts Receivable | -2.52B | -2.57B | -2.76B | 777.60M | 3.14B | -1.57B |
| Change in Accounts Payable | 3.06B | 2.26B | 2.95B | -709.50M | -2.87B | 1.12B |
| Change in Other Net Operating Assets | 6.87B | 2.82B | 3.91B | 774.90M | 562.70M | 712.00M |
| Other Operating Activities | -6.70M | -91.10M | 36.50M | -7.60M | -56.50M | -1.70M |
| Operating Cash Flow | 441.20M | 667.50M | 1.16B | 735.00M | 225.60M | 470.80M |
| Capital Expenditures | -13.70M | -13.10M | -11.70M | -9.00M | -3.60M | -3.80M |
| Cash Acquisitions | -282.70M | -241.60M | -11.00M | -90.30M | -36.90M | -12.50M |
| Sale (Purchase) of Intangibles | -8.20M | -6.70M | -8.20M | -3.10M | -5.80M | -3.50M |
| Investment in Securities | -2.90M | -2.90M | -4.40M | 6.40M | ||
| Other Investing Activities | 68.10M | -1.60M | ||||
| Investing Cash Flow | -239.40M | -264.30M | -35.30M | -97.60M | -46.30M | -19.80M |
| Long-Term Debt Issued | 6.40M | |||||
| Total Debt Issued | 6.40M | |||||
| Long-Term Debt Repaid | -24.30M | -15.00M | -11.40M | -56.60M | -7.20M | |
| Lease Payments | -16.20M | -18.00M | -15.00M | -11.40M | -6.60M | -7.20M |
| Total Debt Repaid | -22.50M | -24.30M | -15.00M | -11.40M | -56.60M | -7.20M |
| Net Debt Issued (Repaid) | -22.50M | -24.30M | -8.60M | -11.40M | -56.60M | -7.20M |
| Issuance of Common Stock | 495.30M | 73.10M | 100.00M | |||
| Repurchase of Common Stock | -125.40M | -44.10M | -19.80M | -3.10M | -7.90M | |
| Common Dividends Paid | -56.50M | -55.50M | -77.10M | -58.30M | -6.60M | -20.00M |
| Other Financing Activities | -4.80M | -2.40M | ||||
| Financing Cash Flow | 290.90M | -123.90M | -37.20M | -72.80M | 26.50M | -27.20M |
| Foreign Exchange Rate Adjustments | -3.50M | 58.80M | -17.90M | 8.80M | -7.70M | -3.30M |
| Net Cash Flow | 475.70M | 324.60M | 1.07B | 573.40M | 198.10M | 420.50M |
| Free Cash Flow | 427.50M | 654.40M | 1.15B | 726.00M | 222.00M | 467.00M |
| Free Cash Flow Margin | 12.25% | 22.80% | 48.87% | 38.57% | 21.97% | 56.58% |
| Free Cash Flow Per Share | 5.58 | 8.60 | 15.30 | 10.32 | 3.29 | 7.67 |
| Free Cash Flow After Leases | 411.30M | 636.40M | 1.14B | 714.60M | 215.40M | 459.80M |
| Cash Interest Paid | 911.60M | 751.10M | 521.90M | 470.20M | 161.10M | |
| Cash Income Tax Paid | 101.90M | 140.90M | 58.10M | 55.90M | 18.00M | 18.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.66B | 2.75B | 2.39B | |||
| Last Close Price | 64.41 | 38.00 | 30.39 | |||
| PE Ratio | 12.00 | 9.36 | 11.67 | |||
| PS Ratio | 1.34 | 0.96 | 1.01 | |||
| PB Ratio | 3.40 | 2.18 | 2.44 | |||
| P/FCF Ratio | 10.90 | 4.20 | 2.07 | |||
| P/OCF Ratio | 10.56 | 4.12 | 2.05 | |||
| Debt / Equity Ratio | 8.25 | 9.88 | 7.05 | 7.46 | 8.89 | 3.12 |
| Debt / FCF Ratio | 36.06 | 19.08 | 5.98 | 7.97 | 27.13 | 3.19 |
| Net Debt / Equity Ratio | 0.65 | 0.57 | -1.36 | -2.89 | -2.37 | 0.29 |
| Net Debt / FCF Ratio | 2.82 | 1.11 | -1.16 | -3.08 | -7.24 | 0.29 |
| Asset Turnover | 0.10 | 0.10 | 0.11 | 0.11 | 0.10 | 0.18 |
| Quick Ratio | 0.65 | 0.74 | 0.67 | 0.79 | 0.85 | 0.73 |
| Current Ratio | 1.09 | 1.08 | 1.06 | 1.03 | 1.03 | 0.88 |
| Return on Equity (ROE) | 26.24% | 27.48% | 24.87% | 19.44% | 17.00% | 12.26% |
| Return on Assets (ROA) | 1.07% | 1.04% | 1.04% | 0.85% | 0.94% | 1.25% |
| Return on Invested Capital (ROIC) | 2.50% | 2.88% | 3.01% | 2.21% | 1.91% | 3.48% |
| Earnings Yield | 8.34% | 11.17% | 9.13% | |||
| FCF Yield | 9.17% | 23.79% | 48.22% | |||
| Dividend Yield | 0.99% | 1.54% | 0.82% | |||
| Payout Ratio | 11.92% | 18.07% | 35.37% | 41.26% | 6.72% | 35.40% |
| Buyback Yield / Dilution | -0.61% | -1.13% | -7.05% | -4.07% | -11.00% | -0.40% |
| Total Shareholder Return | 0.38% | 0.41% | -6.22% | -4.07% | -11.00% | -0.40% |