WallStSmart

Miami International Holdings, Inc. (MIAX)vsMorgan Stanley (MS)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Morgan Stanley generates 5053% more annual revenue ($70.30B vs $1.36B). MS leads profitability with a 24.0% profit margin vs -5.1%. MS earns a higher WallStSmart Score of 76/100 (B+).

MIAX

Hold

42

out of 100

Grade: D

Growth: 6.7Profit: 4.0Value: 5.0Quality: 5.3
Piotroski: 4/9Altman Z: 0.97

MS

Strong Buy

76

out of 100

Grade: B+

Growth: 8.0Profit: 7.5Value: 10.0Quality: 4.8
Piotroski: 3/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for MIAX.

MSUndervalued (+59.3%)

Margin of Safety

+59.3%

Fair Value

$407.18

Current Price

$165.65

$241.53 discount

UndervaluedFair: $407.18Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MIAX0 strengths · Avg: 0/10

No standout strengths identified

MS6 strengths · Avg: 8.8/10
Market CapQuality
$263.03B10/10

Mega-cap, among the largest globally

Operating MarginProfitability
38.6%10/10

Strong operational efficiency at 38.6%

Profit MarginProfitability
24.0%9/10

Keeps 24 of every $100 in revenue as profit

P/E RatioValuation
16.2x8/10

Attractively priced relative to earnings

Price/BookValuation
2.6x8/10

Reasonable price relative to book value

EPS GrowthGrowth
20.7%8/10

Earnings expanding 20.7% YoY

Areas to Watch

MIAX3 concerns · Avg: 1.7/10
Return on EquityProfitability
-11.2%2/10

ROE of -11.2% — below average capital efficiency

Altman Z-ScoreHealth
0.972/10

Distress zone — elevated risk

Profit MarginProfitability
-5.1%1/10

Currently unprofitable

MS3 concerns · Avg: 3.0/10
PEG RatioValuation
1.834/10

Expensive relative to growth rate

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Free Cash FlowQuality
$-4.60B2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : MIAX

Revenue growth of 14.1% demonstrates continued momentum.

Bull Case : MS

The strongest argument for MS centers on Market Cap, Operating Margin, Profit Margin. Profitability is solid with margins at 24.0% and operating margin at 38.6%. Revenue growth of 11.0% demonstrates continued momentum.

Bear Case : MIAX

The primary concerns for MIAX are Return on Equity, Altman Z-Score, Profit Margin.

Bear Case : MS

The primary concerns for MS are PEG Ratio, Piotroski F-Score, Free Cash Flow.

Key Dynamics to Monitor

MIAX profiles as a turnaround stock while MS is a mature play — different risk/reward profiles.

MIAX is growing revenue faster at 14.1% — sustainability is the question.

MIAX generates stronger free cash flow (43M), providing more financial flexibility.

Monitor CAPITAL MARKETS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

MS scores higher overall (76/100 vs 42/100), backed by strong 24.0% margins and 11.0% revenue growth. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Miami International Holdings, Inc.

FINANCIAL SERVICES · CAPITAL MARKETS · USA

Miami International Holdings, Inc. is a prominent player in the global financial services sector, primarily recognized for its operations through the Miami International Exchange (MIAX). With a commitment to leveraging cutting-edge technology, MIAX enhances market efficiency for a diverse range of institutional investors and traders, establishing itself as a key venue in the options and derivatives trading landscape. The company's strategic focus on innovative solutions, rigorous risk management, and adherence to regulatory standards positions it as a reliable marketplace that attracts liquidity providers in a rapidly evolving financial environment.

Morgan Stanley

FINANCIAL SERVICES · CAPITAL MARKETS · USA

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.

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