Marex Group plc Financials

MRX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Marex Group plc (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 2026-04-22

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.

Financial Health Signals

Financial Profile 60/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Marex Group plc'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.

Growth

Marex Group plc's revenue surged 26.9% year-over-year to $2.0B, reflecting rapid business expansion. This strong growth earns a score of 79/100.

Leverage

100

Marex Group plc carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Marex Group plc's current ratio of 1.09 is below the typical benchmark, resulting in a score of 17/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

100

Marex Group plc converts 32.3% of revenue into free cash flow ($654.4M). This strong cash generation earns a score of 100/100.

Returns

Marex Group plc's ROE of 26.4% shows moderate profitability relative to equity, earning a score of 63/100. This is up from 22.3% the prior year.

Piotroski F-Score Neutral

4/9

Marex Group plc passes 4 of 9 financial strength tests. 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 plc 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 plc 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 plc 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 plc 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 plc 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 plc 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 plc'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 plc'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 plc 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 plc 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	FY25	FY24	FY23	FY22
Revenue	$2.0B+26.9%	$1.6B+28.1%	$1.2B+75.0%	$711.1M
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	$5.3M+51.4%	$3.5M+45.8%	$2.4M+140.0%	$1.0M
Income Tax	$103.7M+33.3%	$77.8M+40.9%	$55.2M+135.9%	$23.4M
Net Income	$307.7M+41.1%	$218.0M+54.3%	$141.3M+43.9%	$98.2M
EPS (Diluted)	N/A	N/A	N/A	N/A

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	FY25	FY24	FY23	FY22
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

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	FY25	FY24	FY23	FY22
Operating Cash Flow	$667.5M-42.6%	$1.2B+58.3%	$735.0M+225.8%	$225.6M
Capital Expenditures	$13.1M+12.0%	$11.7M+30.0%	$9.0M+150.0%	$3.6M
Free Cash Flow	$654.4M-43.2%	$1.2B+58.7%	$726.0M+227.0%	$222.0M
Investing Cash Flow	-$264.3M-648.7%	-$35.3M+63.8%	-$97.6M-110.8%	-$46.3M
Financing Cash Flow	-$123.9M-233.1%	-$37.2M+48.9%	-$72.8M-374.7%	$26.5M
Dividends Paid	$55.5M-28.0%	$77.1M+32.2%	$58.3M+783.3%	$6.6M
Share Buybacks	$44.1M+122.7%	$19.8M	N/A	N/A

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

What is Marex Group plc's annual revenue?

Marex Group plc (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.

How fast is Marex Group plc's revenue growing?

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

Is Marex Group plc profitable?

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

How much debt does Marex Group plc have?

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

What is Marex Group plc's net profit margin?

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

What is Marex Group plc's return on equity (ROE)?

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

What is Marex Group plc's free cash flow?

Marex Group plc (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.

What is Marex Group plc's operating cash flow?

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

What are Marex Group plc's total assets?

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

What are Marex Group plc's capital expenditures?

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

Does Marex Group plc buy back shares?

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

How many shares does Marex Group plc have outstanding?

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

What is Marex Group plc's current ratio?

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

What is Marex Group plc's debt-to-equity ratio?

Marex Group plc (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.

What is Marex Group plc's return on assets (ROA)?

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

What is Marex Group plc's Piotroski F-Score?

Marex Group plc (MRX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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.

Are Marex Group plc's earnings high quality?

Marex Group plc (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.

How financially healthy is Marex Group plc?

Marex Group plc (MRX) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.