MRX Stock Analysis: Marex Ordinary Shares | NASDAQ

Clearing, Market Making, Hedging Instruments, Structured Notes

Total Rating 68

Safety 73

Buy Signal 1.04

Capital Markets
Industry Rotation: -1.3

Market Cap: 5.35B
Avg Turnover: 56.1M

Risk 3d forecast

Volatility44.3%

VaR 5^th Pctl7.13%

VaR vs Median-2.29%

Reward TTM

Sharpe Ratio1.74

Rel. Str. IBD95.4

Rel. Str. Peer Group92.6

Character TTM

Beta0.799

Beta Downside0.543

Hurst Exponent0.498

Drawdowns 3y

Max DD41.13%

CAGR/Max DD1.84

CAGR/Mean DD6.73

EPS (Earnings per Share)

Last SUE: 1.70
Qual. Beats: 3

Revenue

Rev. CAGR: 41.73%
Rev. Trend: 92.5%

Last SUE: 2.07
Qual. Beats: 3

Warnings

Below Avwap Earnings

Tailwinds

Rs Leader

Idiosyncratic Leader

Confidence

Seasonality 2.4 years of data

Jan +5.3% -

Feb +12.7% -

Mar +2.7% -

Apr +18.5% 43

May -5.1% 31

Jun -2.1% 0

Jul -2.5% 0

Aug -2.6% 0

Sep -5.1% -

Oct -7.6% -

Nov +17.9% -

Dec +12.9% -

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.

Description: MRX Marex Ordinary Shares

Marex Group plc is a London-based financial services platform company listed on NASDAQ under the ticker MRX, providing liquidity, market access, and infrastructure services across commodity and financial markets in the UK, US, and internationally. Founded in 2005 and IPOd in 2024, the company operates through four segments: Clearing, Agency and Execution, Market Making, and Hedging and Investment Solutions.

Its service offerings span execution and clearing across metals, agricultural products, energy, fixed income, financial securities, digital assets, and equity futures and options. Marex also provides liquidity in OTC energy markets, market data and analytics, energy market services, and OTC hedging and derivatives solutions. The structured notes business enables investors to build products across commodities, equities, FX, and fixed income for distribution to private banks, asset managers, pension funds, and corporates.

The company supports its operations with proprietary technology platforms, including Neon (a trading, risk, and data platform) and Agile (a commodity broking platform). As a mid-cap financial services firm, Marex sits within the investment banking and brokerage sub-industry, a sector that benefits from increased market volatility and client demand for hedging and execution services.

Headlines to Watch Out For

Commodity volatility drives Market Making and Execution revenue
Structured notes growth lifts Hedging and Investment Solutions margins
Fed rate cuts pressure net interest margins on client balances

Piotroski VR-10 (Strict) 3.5

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: 46.85% < 20% (prev 134.8%; Δ -87.98% < -1%)
CFO/TA 0.02 > 3% & CFO 667.5m > Net Income 684.8m
Net Debt (-5.53b) to EBITDA (2.76b): -2.00 < 3
Current Ratio: 1.09 > 1.5 & < 3
Outstanding Shares: last quarter (75.6m) vs 12m ago 5.49% < -2%
Gross Margin: 66.00% > 18% (prev 42.46%; Δ 23.55% > 0.5%)
Asset Turnover: 19.04% > 50% (prev 12.54%; Δ 6.50% > 0%)
Interest Coverage Ratio: 3.57 > 6 (EBIT TTM 2.72b / Interest Expense TTM 760.2m)

Altman Z'' 1.15

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: 0.07 (EBIT TTM 2.72b / Avg Total Assets 36.7b)
D: 0.05 (Book Value of Equity 1.87b / Total Liabilities 40.3b)
Altman-Z'' = 1.15 = BB

Beneish M -3.70

DSRI: 0.53 (Receivables 12.8b/13.6b, Revenue 6.98b/3.91b)
GMI: 0.64 (GM 42.46% / 66.00%)
AQI: 0.11 (AQ_t 0.03 / AQ_t-1 0.29)
SGI: 1.78 (Revenue 6.98b / 3.91b)
TATA: 0.00 (NI 684.8m - CFO 667.5m) / TA 42.1b)
Beneish M = -3.70 (Cap -4..+1) = AAA

What is the price of MRX shares?

As of September 27, 2026, the stock is trading at USD 71.31 with a total of 469,552 shares traded. Over the past week, the price has changed by -4.14%, over one month by +0.65%, over three months by +11.46% and over the past year by +114.21%.

Current recommended Stop Loss: 65.80 (which is 7.7% or 1.7 ATR below the current price).

Is MRX a buy, sell or hold?

Marex Ordinary Shares has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy MRX.

StrongBuy: 3
Buy: 4
Hold: 1
Sell: 0
StrongSell: 0

What are the forecasts/targets for the MRX price?

Analysts Target Price	79.9	12%

Marex Ordinary Shares (MRX) - Fundamental Data Overview as of 21 September 2026

Market Cap USD = 5.35b (5.35b USD * 1.0 USD.USD)
P/E Trailing = 15.0893
P/E Forward = 7.1891
P/S = 1.2932
P/B = 2.8526
Revenue TTM = 6.98b USD
EBIT TTM = 2.72b USD
EBITDA TTM = 2.76b 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 = 3.57 (Ebit TTM 2.72b / 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 = 9.38% (FCF TTM 654.4m / Revenue TTM 6.98b)
Net Margin = 9.81% (Net Income TTM 684.8m / Revenue TTM 6.98b)
Gross Margin = 66.00% ((Revenue TTM 6.98b - Cost of Revenue TTM 2.37b) / Revenue TTM)
Gross Margin QoQ = 69.32% (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 = 2.32b (EBIT 2.72b * (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 = -2.00 (Net Debt -5.53b / EBITDA 2.76b)
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 = 65.01% (EBIT 2.72b / Capital Employed (Equity 1.42b + L.T.Debt 2.76b))
RoIC = 17.65% (NOPAT 2.32b / Invested Capital 13.1b)
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: 92.51 | Revenue CAGR: 41.73% | SUE: 2.07 | # QB: 3
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)