Miami International Holdings, I — Earnings Quality Grade C
MIAX · Financial Services
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 26 days, change -3 days YoY
AR growth 6.2% vs revenue growth 19.6%
Revenue 19.6%, CFFO 50.6%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -10.6% vs revenue 19.6%. Normal
SG&A/Gross Profit = 62.9%. Normal
Gross margin swung +7.4pp (24.2% → 31.6%)
Cash Flow Quality
CFFO/NI = -2.40. Below 1.0
FCF $0.1B, FCF/NI = -1.90
Accruals ratio = -18.9%. Low accruals
Cash $0.4B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 31% of equity
Debt/EBITDA = -0.3x. Healthy
Other assets -1.8% vs revenue 19.6%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 38% YoY
Manipulation Score
M-Score = -3.39 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score — Not Applicable
Miami International Holdings, I is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25