| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 68 | 19.3x | 17.6x | Top tier | |
Growth | 78 | 26.9% | 7.1% | Top tier | |
Quality | 94 | — | — | Top tier | |
Safety | 8 | — | — | Bottom tier | |
Capital Return | 12 | 0.78% | 2.15% | Bottom tier | |
Momentum | 98 | 101.0% | 2.3% | Top tier | |
Sentiment | 39 | 7 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Marex Group Limited operates as a global financial markets infrastructure platform, generating revenue from clearing, agency and execution services, market making, hedging solutions, and financial products. Its operations include prime brokerage, foreign exchange, equities, derivatives, and commodities, alongside commission and interest income associated with clearing client balances. Its expansion depends on deepening client relationships, adding products and geographic regions, and acquiring companies that can be integrated into the Marex platform.
In Q2 FY2026, revenue rose 39% year over year to $696 million, adjusted profit before tax increased 56% to $166 million, and its margin expanded to 23.8%, while reported net profit after tax was $155 million and reported basic earnings per share were $2.09. The reported results included a $35 million gain from the sale of Winterflood’s custody business; excluding non-operating items, adjusted earnings per share were $1.72, up 59%. For H1 FY2026, the company recorded revenue of $1.39 billion, adjusted profit before tax of $319 million, and adjusted earnings per share of $3.29.
Agency and Execution led the Q2 FY2026 mix with revenue of $351 million and growth of 35%, including $283 million from securities and $120 million from prime brokerage services, and achieved an adjusted profit before tax margin of 33%. Clearing revenue was $161 million with a 49% margin, while Market Making revenue jumped 106% to $118 million with a 38% margin, and Solutions revenue rose 74% as its margin reached 35%. These results align with the increase in annual revenue from $711.1 million in FY2022 to $2.0 billion in FY2025, and the rise in net income over the same period from $98.2 million to $307.7 million.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $81.83, within a range of $75 to $90, and the stock carries a consensus “Buy” rating; the average is above the 52-week range high of $75.4, while the lowest target is approximately equal to that high. No reported price-to-earnings multiple is available in the data, but margin expansion and rapid growth are offset by reliance on market conditions and funding and acquisition risks that may limit the achievement of analyst targets, and the data contain no recent rating or price-target downgrade.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
In Q2 FY2026, revenue rose 39% to $696 million and adjusted profit before tax increased 56% to $166 million. Growth came from all segments, with revenue of $351 million from Agency and Execution, $161 million from Clearing, and $118 million from Market Making. The number of clients each generating more than $5 million in annualized run-rate revenue also rose to 77 clients, and average revenue per client increased 34%. Management stated that approximately 80% of year-over-year profit growth in that quarter was organic.
Market conditions affect Marex’s businesses, but Q2 FY2026 results showed some resilience in the face of lower activity. Major exchange volumes fell 17% compared with Q1, while adjusted profit before tax rose 9% sequentially to $166 million. Prime brokerage, Clearing, and Solutions supported this offset, and prime brokerage revenue reached a record $120 million. Nevertheless, management said that some unusual client activity in H1 FY2026 could subside as conditions return to normal.
Marex completed the acquisition of Webb Traders on August 3, 2026 to add market-making capabilities in single-stock options in Europe and the United States. The company expects the integration to allow it to bring part of the structured-products business’s hedging in-house, supporting margin expansion. The acquisition adds a team of market makers and developers, as well as offices in Amsterdam and Paris, to the Marex platform. The actual financial benefit remains dependent on successful integration and realization of the expected hedging and pricing benefits.
Marex’s total assets were approximately $42.1 billion as of June 30, 2026, and the company said that nearly 80% were directly related to client activities and were highly liquid and largely self-funded. Funding sources totaled $8.1 billion, excess liquidity was $1.8 billion, and the risk-adjusted capital ratio reached approximately 12%. During the quarter, the company issued $500 million of hybrid capital and $500 million of unsecured bonds to support expansion. Conversely, higher interest expenses contributed to a decline in net interest income to $30 million from $35 million in the comparable quarter.
In Q2 FY2026, Marex was providing cross-margin clearing between U.S. Treasury futures at CME and cash Treasuries through FICC and DTC for three clients, with more than ten clients in the pipeline. It also enabled USDC as initial margin under a CFTC pilot program and executed a repo transaction on the Canton Network using tokenized U.S. Treasury bonds. The company is also building a digital-asset prime brokerage offering and believes these services could open relationships with sophisticated hedge funds. Management confirmed that revenue from cross-margin clearing would not be substantial on its own, but considers it a profitable business that strengthens the platform’s credibility.
The average analyst target is $81.83, with a low target of $75 and a high target of $90, and the consensus rates the stock a “Buy.” The average target is above the 52-week range high of $75.4, while the lowest target is close to that high. Operationally, annual earnings per share rose from $1.36 in FY2022 to $3.86 in FY2025, and reported trailing-twelve-month earnings per share were $5.72 through Q2 FY2026. This growth should be weighed against earnings sensitivity to trading conditions, higher funding costs, and acquisition integration risks.
