Marex (MRX) Operating Expenses (2023 - 2026)

Marex (MRX) reported Operating Expenses of -$539.2 million for Q1 2026, down 44.4% on a YoY basis from -$969.8 million in Q1 2025, and down 16.53% quarter-over-quarter from -$462.7 million in Q4 2025.

Marex (MRX) Operating Expenses (2023 - 2026) Analysis & Trends

Marex has reported Operating Expenses for 4 years, with the latest figure at -$539.2 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses fell 44.4% year-over-year to -$539.2 million; the trailing twelve-month figure through Mar 2026 stood at -$1.0 billion (down 40.22% YoY), and the FY2025 full-year result was $1.6 billion, up 24.28% from the prior year.
  • Operating Expenses for Q1 2026 stood at -$539.2 million, down from -$462.7 million in the prior quarter.
  • The five-year high for Operating Expenses was $1.2 million in Q4 2023, with the low at -$539.2 million in Q1 2026.
  • Historically, Operating Expenses has averaged -$245.0 million across 4 years, with a median of -$340.9 million in 2024.
  • The largest YoY upside for Operating Expenses was 35.73% in 2025 against a maximum downside of 186800.0% in 2025.
  • Marex's Operating Expenses stood at $1.2 million in 2023, then sank by 28508.33% to -$340.9 million in 2024, then plunged by 35.73% to -$462.7 million in 2025, then retreated by 16.53% to -$539.2 million in 2026.
  • The last three Operating Expenses figures came in at -$539.2 million (Q1 2026), -$462.7 million (Q4 2025), and -$373.4 million (Q1 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 94,425.84 Bn 94,425.84 Bn - 386,258.80
2 Morgan Stanley 349.82 Bn 216.29 Bn - 13.47 Bn
3 Goldman Sachs 333.85 Bn -603.70 Bn - 10.43 Bn
4 Schwab Charles 160.31 Bn 115.33 Bn - 3.29 Bn
5 Robinhood Markets 97.28 Bn 92.64 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 42.79 Bn 53.38 Bn - 381.00 Mn
7 LPL Financial Holdings 23.54 Bn 22.51 Bn - 4.45 Bn
8 Tradeweb Markets 21.20 Bn 19.96 Bn - 330.51 Mn
9 Iren 19.97 Bn 17.75 Bn 144.76 Mn 81.75 Mn
10 Marex 6.49 Bn 3.42 Bn - -539.20 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -539.20 Mn
Dec 31, 2025 -462.70 Mn
Mar 31, 2025 -373.40 Mn
Dec 31, 2024 -340.90 Mn
Jun 30, 2024 -200,000.00
Mar 31, 2024 200,000.00
Dec 31, 2023 1.20 Mn