Marex Group Limited (MRX): fair value, margin of safety and Wheel Score

Is MRX undervalued?

Marex Group Limited (MRX) closed at 72.30 on 16 Oct 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 292.20, which puts the price 75% below it. 7 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.

There is a wide gap between DDM (9.12) and DCF (1,276.93). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.

The nightly engine files MRX under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.

Nine valuation models for MRX

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Marex Group Limited scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability MRX scores 5.9/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.

Returns on capital are thin or negative - ROIC 2.7%, ROE 24.4%, ROA 0.9% - with debt at 8.10 times equity and a free-cash-flow yield of 8.2%. Debt of 8.10 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.

The dividend yield is 0.86% with a payout ratio of 11% - a small yield that leaves most of the earnings in the business.

Institutional ownership scores 9/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 83: Prime

With a Wheel Score of 83, Marex Group Limited sits in the Prime band - price, quality and premium all line up for the wheel strategy. The parts: Value 25/25, Health 13/20, Moat 9/15, Premium 20/20, Stability 16/20. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.

Implied volatility is 54% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 3,482 contracts across all expiries - enough for the wheel at normal size.

Volume runs at 581k shares a day on a market cap of $5.2B, with a beta of -0.10 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 16 of 20.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for MRX in the nightly calendar.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

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