Estados financieros detallados de Marex Group Limited (MRX): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Marex Group Limited registró ingresos de $3.63B en el último ejercicio fiscal, con un CAGR de 5 años del 36.8%. El beneficio neto alcanzó $308.2M, con un CAGR a 5 años del 47.7%.
Márgenes de los últimos 12 meses: margen bruto 59.5%, margen operativo 43.8%, margen neto 9.7%.
Al precio actual de $72.38, MRX cotiza a un P/E de 17.54 y un ROE del 31.85%. La capitalización bursátil es de $5.2B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $328.3M | $317.9M | $384.5M | $549.2M | $757.5M | $851.7M | $1.18B | $2.35B | $2.89B | $3.63B |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | $609.5M | $313.0M | $659.4M | $1.61B | $917.7M |
| Beneficio Bruto | $328.3M | $317.9M | $384.5M | $549.2M | $757.5M | $825.3M | $862.3M | $1.69B | $1.29B | $2.71B |
| I+D | $389000 | $135000 | $60000 | $639000 | $763000 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | 0 | 0 | 0 | $211.9M | $276.9M | $82.5M | $120.1M | $798.8M | $247.1M | 0 |
| Gastos Operativos | $302.0M | $292.7M | $339.2M | $541.2M | $701.0M | $144.8M | $223.1M | $798.8M | $450.9M | $1.55B |
| Beneficio Operativo | $26.3M | $25.2M | $45.2M | $12.2M | $56.6M | $68.6M | $270.5M | $683.5M | $836.3M | $1.16B |
| EBITDA | $2.9M | $1.6M | $1.4M | $7.6M | $8.5M | $106.6M | $284.3M | $705.4M | $865.8M | $1.21B |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | $26.4M | $165.0M | $470.2M | $538.1M | $760.2M |
| Beneficio Antes de Impuestos | $27.0M | $25.4M | $13.4M | $46.6M | $55.0M | $69.9M | $121.6M | $196.5M | $295.8M | $411.6M |
| Impuestos | $6.5M | $7.9M | $3.3M | $10.2M | $11.2M | $13.4M | $23.4M | $55.2M | $77.8M | $103.7M |
| Beneficio Neto | $20.5M | $17.5M | $10.2M | $36.4M | $43.8M | $56.5M | $91.6M | $128.0M | $218.0M | $308.2M |
| BPA | $0.34 | $0.29 | $0.17 | $0.60 | $0.72 | $0.80 | $1.29 | $1.94 | $2.72 | $4.13 |
| BPA Diluido | $0.34 | $0.29 | $0.17 | $0.60 | $0.72 | $0.80 | $1.36 | $1.82 | $2.72 | $3.87 |
| Acciones en Circulación (Diluidas) | $60.6M | $60.6M | $60.6M | $60.6M | $60.6M | $70.8M | $70.8M | $72.2M | $75.3M | $76.1M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $188.2M | $89.2M | $160.7M | $217.5M | $291.5M | $712.0M | $910.1M | $1.48B | $2.56B | $6.38B |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | $46.3M | $2.31B | $3.25B | $2.66B | $7.08B |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | $2.17B | $9.04B | $7.71B | $9.55B | $11.07B |
| Inventario | 0 | 0 | 0 | 0 | 0 | $80.1M | $35.8M | $163.4M | $35.8M | 0 |
| Activos Corrientes | 0 | 0 | 0 | $217.5M | $291.5M | $4.12B | $15.35B | $16.94B | $23.83B | $24.53B |
| Inmovilizado Material | $2.5M | $2.7M | $2.5M | $27.7M | $20.4M | $20.9M | $45.5M | $57.2M | $80.7M | $110.9M |
| Fondo de Comercio | $141.0M | $141.0M | $141.0M | $179.2M | $198.4M | $208.9M | $155.5M | $163.6M | $176.5M | $237.4M |
| Activos Intangibles | $537000 | $776000 | $1.9M | $7.8M | $14.3M | $21.5M | $25.6M | $56.0M | $56.5M | $98.0M |
| Activos Totales | $1.14B | $1.08B | $1.39B | $2.58B | $3.77B | $5.26B | $15.74B | $17.61B | $24.31B | $34.68B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | $3.29B | $6.65B | $4.92B | $7.74B | $11.78B |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | $1.13B | $5.22B | $4.43B | $4.58B | $7.81B |
| Pasivos Corrientes | 0 | 0 | 0 | $84.2M | $122.4M | $4.63B | $14.56B | $15.88B | $21.78B | $7.75B |
| Deuda a Largo | 0 | 0 | 0 | $12.9M | $246.8M | $136.6M | $472.1M | $907.9M | $1.48B | $2.33B |
| Pasivos Totales | $761.5M | $712.3M | $1.01B | $2.16B | $3.32B | $4.79B | $15.07B | $16.84B | $23.34B | $33.41B |
| Reservas | $64.6M | $62.1M | $72.3M | $107.0M | $132.6M | $346.6M | $455.3M | $555.3M | $722.4M | $982.0M |
| Patrimonio Neto | $373.8M | $372.4M | $381.9M | $417.8M | $443.8M | $477.7M | $677.7M | $775.9M | $976.9M | $1.26B |
| Deuda Total | 0 | 0 | 0 | $12.9M | $246.8M | $1.29B | $5.73B | $5.39B | $6.14B | $10.23B |
| Deuda Neta | -$188.2M | -$89.2M | -$160.7M | -$204.6M | -$44.8M | $531.8M | $2.51B | $654.8M | $926.2M | -$3.22B |
| Capital Circulante | 0 | 0 | 0 | $133.3M | $169.2M | -$505.3M | $792.3M | $1.05B | $2.05B | $16.77B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $20.5M | $17.5M | $10.2M | $36.4M | $43.8M | $56.5M | $98.2M | $141.3M | $295.8M | $307.4M |
| Amortizaciones | $2.9M | $1.6M | $1.4M | $7.6M | $8.5M | $10.3M | $13.8M | $21.9M | $28.8M | $36.1M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $1.2M | $16.7M | $20.3M | $29.6M | $43.5M |
| Cambio en Capital Circulante | $25.6M | $36.8M | -$174.8M | $300.5M | -$616.7M | $183.5M | -$22.0M | $609.0M | $1.04B | $371.2M |
| Flujo de Caja Operativo | $30.1M | -$95.5M | $130.3M | -$23.1M | -$45.8M | $470.8M | $225.6M | $735.0M | $1.16B | $667.5M |
| Inversiones (CapEx) | -$1.3M | -$1.7M | -$1.0M | -$2.8M | -$3.4M | -$7.3M | -$9.4M | -$12.1M | -$19.9M | -$13.1M |
| Adquisiciones | 0 | 0 | 0 | -$110.2M | -$18.7M | -$12.5M | -$36.9M | -$90.3M | -$11.0M | -$241.6M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | -$7.9M | -$3.1M | -$19.8M | -$44.1M |
| Dividendos Pagados | -$20.0M | -$20.0M | 0 | 0 | -$18.2M | -$20.0M | -$6.6M | -$58.3M | -$77.1M | -$55.5M |
| Flujo de Caja Libre | $28.8M | -$97.2M | $129.3M | -$25.9M | -$49.1M | $463.5M | $216.2M | $722.9M | $1.14B | $654.4M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | -3.2% | +20.9% | +42.8% | +37.9% | +12.4% | +38.0% | +100.1% | +23.1% | +25.4% | |
| Crecimiento Beneficio Neto (anual) | -14.6% | -42.0% | +258.5% | +20.4% | +28.9% | +62.1% | +39.7% | +70.3% | +41.4% | |
| Crecimiento BPA (anual) | -14.7% | -41.4% | +252.9% | +20.0% | +11.1% | +61.2% | +50.4% | +40.2% | +51.8% | |
| Cambio en Acciones (anual) | +0.0% | +0.0% | +0.0% | +0.0% | +16.8% | +0.0% | +2.0% | +4.2% | +1.1% | |
| Crecimiento FCF (anual) | -437.1% | +233.0% | -120.0% | -89.8% | +1043.2% | -53.4% | +234.4% | +58.2% | -42.8% | |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 96.9% | 73.4% | 72.0% | 44.5% | 74.7% |
| Margen Operativo | 8.0% | 7.9% | 11.8% | 2.2% | 7.5% | 8.1% | 23.0% | 29.1% | 28.9% | 32.0% |
| Margen EBITDA | 0.9% | 0.5% | 0.4% | 1.4% | 1.1% | 12.5% | 24.2% | 30.0% | 29.9% | 33.3% |
| Margen Neto | 6.2% | 5.5% | 2.6% | 6.6% | 5.8% | 6.6% | 7.8% | 5.4% | 7.5% | 8.5% |
| Margen FCF | 8.8% | -30.6% | 33.6% | -4.7% | -6.5% | 54.4% | 18.4% | 30.7% | 39.5% | 18.0% |
| Tasa Impositiva Efectiva | 24.1% | 31.2% | 24.4% | 21.9% | 20.3% | 19.2% | 19.2% | 28.1% | 26.3% | 25.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $0.48 | $-1.60 | $2.13 | $-0.43 | $-0.81 | $6.54 | $3.05 | $10.01 | $15.19 | $8.60 |
| Dividendo por Acción | $0.33 | $0.33 | $0.00 | $0.00 | $0.30 | $0.28 | $0.09 | $0.81 | $1.02 | $0.73 |
| Acciones en Circulación (Básicas) | $60.6M | $60.6M | $60.6M | $60.6M | $60.6M | $70.8M | $70.8M | $72.2M | $75.3M | $71.4M |
Qué mirar en Servicios Financieros
Asset managers, brokers, fintech, bolsas. No son bancos — mira AUM, comisiones y calidad del FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — Los buenos asset managers tienen márgenes >30% por escalabilidad
- ROE — Servicios financieros de calidad tienen ROE >15% consistente
- FCF / Net Income — Calidad del beneficio — >90% esperado en negocios ligeros en capital
- Debt / Equity — Fintech y brokers con D/E alto son bombas de relojería en crisis
- P/E vs 5y propio — Asset managers tienen múltiplos estables en rangos conocidos
- Dividend yield + buybacks — Estos negocios devuelven mucho capital — mirar yield total (div + recompras)
Rentabilidad
| Rentabilidad sobre capital | 31.85% |
| Rentabilidad sobre capital invertido | 12.61% |
| Rentabilidad sobre activos | 1.19% |
| Margen bruto | 59.49% |
| Margen operativo | 43.75% |
| Margen neto | 9.67% |
Salud financiera
| Deuda / Patrimonio | 1.51 |
| Ratio corriente | 1.09 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 0.88 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 55.85 | 65.48 | 111.71 | 31.65 | 26.38 | 23.74 | 14.72 | 9.79 | 11.46 | 9.29 |
| P/VC | 3.08 | 3.09 | 3.01 | 2.76 | 2.59 | 2.82 | 1.98 | 1.77 | 2.40 | 2.17 |
| P/V | 3.51 | 3.62 | 2.99 | 2.10 | 1.52 | 1.58 | 1.14 | 0.58 | 0.81 | 0.75 |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 96.9% | 73.4% | 72.0% | 44.5% | 74.7% |
| Margen Operativo | 8.0% | 7.9% | 11.8% | 2.2% | 7.5% | 8.1% | 23.0% | 29.1% | 28.9% | 32.0% |
| Margen Neto | 6.2% | 5.5% | 2.6% | 6.6% | 5.8% | 6.6% | 7.8% | 5.4% | 7.5% | 8.5% |
Empresas relacionadas: BANR · ECC · FFBC · FIGR · FRME · PWP · SF
Explorar sector: Financial Services · Financial - Capital Markets
Más secciones de MRX: Resumen · Valoración · Estadísticas · Estimaciones · Técnico · Propiedad · Noticias · Eventos
Descubre más: Radar — señales de acciones infravaloradas · Academia de Inversión — aprende a analizar acciones