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Marex Group Limited Financials

MRX
Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Marex Group Limited (MRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MRX FY2025

MRX runs on a huge, liability-funded balance sheet, while cash generation consistently exceeds reported accounting profit.

ROE reached 26.4% while ROA stayed near 0.9%; that gap means shareholder returns are being amplified by a thin equity base, not by unusually rich returns on assets. That reading fits a balance sheet with $34.7B of assets and only $1.17B of equity, while operating cash flow exceeded net income in each of the last three years.

The balance sheet is funded far more by short-term liabilities than by long-term debt: FY2025 current liabilities were $31.0B against only $87.4M of long-term debt. That leaves little idle liquidity; a current ratio near 1.1x suggests assets and obligations move together, so day-to-day funding management matters more than interest burden.

This is a low-capex cash model: FY2025 capital spending was just $13.1M against $667.5M of operating cash flow. Because so little cash is tied up in physical reinvestment, the drop in free cash flow from FY2024 to FY2025 looks more like balance-sheet absorption than weakening core profitability.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Earnings Growth Capital Efficiency Credit Quality Stability 27 / 100
Financial Health Score 27/100
Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Marex Group Limited's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings
46
Growth
85
Capital
1
Stability
30
Piotroski F-Score Partial
4/8

Marex Group Limited passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.17x

For every $1 of reported earnings, Marex Group Limited generates $2.17 in operating cash flow ($667.5M OCF vs $307.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.0B
YoY+26.9%

Marex Group Limited generated $2.0B in revenue in fiscal year 2025. This represents an increase of 26.9% from the prior year.

EBITDA
N/A
Net Income
$307.7M
YoY+41.1%

Marex Group Limited reported $307.7M in net income in fiscal year 2025. This represents an increase of 41.1% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
$654.4M
YoY-43.2%

Marex Group Limited generated $654.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 43.2% from the prior year.

Cash & Debt
$2.9B
YoY+12.7%

Marex Group Limited held $2.9B in cash against $87.4M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
73M
YoY+1.0%

Marex Group Limited had 73M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
15.2%
YoY+1.5pp

Marex Group Limited's net profit margin was 15.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.

Return on Equity
26.4%
YoY+4.1pp

Marex Group Limited's ROE was 26.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.1 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$44.1M
YoY+122.7%

Marex Group Limited spent $44.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 122.7% from the prior year.

Capital Expenditures
$13.1M
YoY+12.0%

Marex Group Limited invested $13.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 12.0% from the prior year.

MRX Income Statement

Metric Q4'25 Q4'24 Q4'23 Q4'22
Revenue N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A
Net Income N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A

MRX Balance Sheet

Metric Q4'25 Q4'24 Q4'23 Q4'22
Total Assets $34.7B+42.6% $24.3B+38.0% $17.6B+11.9% $15.7B
Current Assets $33.7B+41.4% $23.8B+40.7% $16.9B+10.3% $15.4B
Cash & Equivalents $2.9B+12.7% $2.6B+72.3% $1.5B+63.0% $910.1M
Inventory N/A N/A N/A N/A
Accounts Receivable $11.0B+45.5% $7.6B+57.7% $4.8B+2.2% $4.7B
Goodwill $237.4M+34.5% $176.5M+7.9% $163.6M+5.2% $155.5M
Total Liabilities $33.4B+43.2% $23.3B+38.6% $16.8B+11.7% $15.1B
Current Liabilities $31.0B+42.2% $21.8B+37.1% $15.9B+9.1% $14.6B
Long-Term Debt $87.4M+30.4% $67.0M+70.1% $39.4M+22.7% $32.1M
Total Equity $1.2B+19.4% $976.9M+25.9% $775.9M+14.5% $677.7M
Retained Earnings $982.0M+35.9% $722.4M+30.1% $555.3M+22.0% $455.3M

MRX Cash Flow Statement

Metric Q4'25 Q4'24 Q4'23 Q4'22
Operating Cash Flow N/A N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A
Dividends Paid N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A

MRX Financial Ratios

Metric Q4'25 Q4'24 Q4'23 Q4'22
Gross Margin N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A
Current Ratio 1.090.0 1.09+0.0 1.07+0.0 1.05
Debt-to-Equity 0.070.0 0.07+0.0 0.050.0 0.05
FCF Margin N/A N/A N/A N/A

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Frequently Asked Questions

Marex Group Limited (MRX) reported $2.0B in total revenue for fiscal year 2025. This represents a 26.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Marex Group Limited (MRX) revenue grew by 26.9% year-over-year, from $1.6B to $2.0B in fiscal year 2025.

Yes, Marex Group Limited (MRX) reported a net income of $307.7M in fiscal year 2025, with a net profit margin of 15.2%.

As of fiscal year 2025, Marex Group Limited (MRX) had $2.9B in cash and equivalents against $87.4M in long-term debt.

Marex Group Limited (MRX) had a net profit margin of 15.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Marex Group Limited (MRX) has a return on equity of 26.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Marex Group Limited (MRX) generated $654.4M in free cash flow during fiscal year 2025. This represents a -43.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Marex Group Limited (MRX) generated $667.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Marex Group Limited (MRX) had $34.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Marex Group Limited (MRX) invested $13.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Marex Group Limited (MRX) spent $44.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Marex Group Limited (MRX) had 73M shares outstanding as of fiscal year 2025.

Marex Group Limited (MRX) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.

Marex Group Limited (MRX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Marex Group Limited (MRX) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Marex Group Limited (MRX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Marex Group Limited (MRX) has an earnings quality ratio of 2.17x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Marex Group Limited (MRX) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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