Marex Group plc
MRX · Security & Commodity Brokers, Dealers, Exchanges & Services · EDGAR filings ↗
Reference price $61.74 — last insider sale, 2026-06-15 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
A85Scaled, diversified commodity and financial markets broker with top-decile returns, strong growth, and robust cash generation.
Strengths
- ROE ~26% (100th pct), revenue +27% (73rd pct), and net income +41% with strong cash generation (OCF margin 80th pct, FCF $654M)
- Wide-moat infrastructure franchise: 60+ exchanges, Category 1 LME ring dealer, 3,400+ clients, diversified across four business lines
Risks
- Earnings sensitive to commodity volatility, trading volumes, and interest income on client balances
- Acquisitive growth strategy and exposure to geopolitical/sanctions-driven market disruption
Notable findings
- Customer concentration~26% of revenue from one customer/distributor — Our services are divided into four core businesses: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions, from which we derived 26% , 52% , 12% and 10% , respectively
- Strong balance sheetStrong balance sheet — $2.9B cash & investments
- Insider sellingInsider selling — 20 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$8M, last 6mo) Form 4 ↗
Key metrics
Net margin
15.2%
Return on equity
26.4%
Return on assets
0.9%
Revenue growth (QoQ)
26.9%
Net-income growth
41.1%
Debt / equity
0.2×
Current ratio
1.1×
Free cash flow
$654M
Tangible book value
$929M
Cash & investments
$2.9B
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Tonucci Paolo | Sell | 1.7K | $61.74 |
| 2026-06-15 | Tonucci Paolo | Sell | 14K | $62.51 |
| 2026-06-15 | Tonucci Paolo | Sell | 809 | $63.00 |
| 2026-06-12 | Lowitt Ian T | Sell | 4.3K | $62.94 |
| 2026-06-12 | Lowitt Ian T | Sell | 33K | $62.29 |
| 2026-06-09 | Pickering Robert Mark | Grant | 2.1K | — |
| 2026-06-09 | Myers Linda Kristine | Grant | 2.1K | — |
| 2026-06-09 | Assi Georges | Grant | 2.1K | — |
| 2026-06-09 | Schweinitz Konstantin Graf von | Grant | 2.1K | — |
| 2026-06-09 | Ing Sarah | Grant | 2.1K | — |
| 2026-06-09 | Pietrowicz John W. | Grant | 2.1K | — |
| 2026-06-01 | Texier Thomas | Sell | 1.3K | $53.22 |
| 2026-06-01 | Texier Thomas | Sell | 269 | $53.98 |
| 2026-06-01 | Myers Linda Kristine | Tax withheld | 1.1K | $52.94 |
| 2026-06-01 | Pietrowicz John W. | Tax withheld | 558 | $52.94 |
| 2026-06-01 | Ing Sarah | Tax withheld | 1.3K | $52.94 |
| 2026-05-22 | Irvin Rob | Tax withheld | 3.4K | $54.45 |
| 2026-05-22 | Lowitt Ian T | Tax withheld | 39K | $54.45 |
| 2026-05-22 | Texier Thomas | Tax withheld | 20K | $54.45 |
| 2026-05-22 | Jethwa Nilesh | Tax withheld | 40K | $54.45 |
| 2026-05-22 | Tonucci Paolo | Tax withheld | 31K | $54.45 |
| 2026-05-22 | Van Den Born Simon | Tax withheld | 44K | $54.45 |
| 2026-05-11 | Tonucci Paolo | Sell | 11K | $55.72 |
| 2026-05-11 | Tonucci Paolo | Sell | 5.7K | $56.31 |
| 2026-05-01 | Texier Thomas | Sell | 12K | $52.87 |
| 2026-05-01 | Texier Thomas | Sell | 2.6K | $53.53 |
| 2026-04-20 | Van Den Born Simon | Sell | 13K | $50.92 |
| 2026-04-20 | Van Den Born Simon | Sell | 641 | $51.71 |
| 2026-04-13 | Tonucci Paolo | Sell | 6.8K | $50.60 |
| 2026-04-13 | Tonucci Paolo | Sell | 5.8K | $51.56 |
| 2026-04-13 | Tonucci Paolo | Sell | 4.1K | $52.36 |
| 2026-04-01 | Van Den Born Simon | Sell | 8.7K | $43.27 |
| 2026-04-01 | Van Den Born Simon | Sell | 4.6K | $43.97 |
| 2026-04-01 | Texier Thomas | Sell | 9.6K | $43.28 |
| 2026-04-01 | Texier Thomas | Sell | 4.8K | $43.97 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-25 | 2025-12-31 | 0001997464-26-000018 ↗ |
| 20-F | 2025-03-21 | 2024-12-31 | 0001997464-25-000015 ↗ |