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Oppenheimer Holdings vs Miami International Holdings: OPY and MIAX compared
Oppenheimer Holdings is the larger company: $382M of revenue in its latest quarter (Q3 2026) against $376M for Miami International Holdings (Q3 2026). Miami International Holdings is growing faster (+11% against -10% a year earlier). Miami International Holdings is more profitable, with an operating margin of 12.5% against 2.3%.
Where the money goes: OPY and MIAX
Oppenheimer Holdings (OPY) · Q3 2026
Oppenheimer Holdings, Q3 2026: revenue $382M (-10% year over year), operating margin 2.3%, net earnings $5.4M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
Miami International Holdings (MIAX) · Q3 2026
Miami International Holdings, Q3 2026: revenue $376M (+11% year over year), operating margin 12.5%, net earnings $52.5M, operating cash flow $23.1M. The chart follows the revenue to costs, profit and cash.
| Oppenheimer Holdings (OPY) | Miami International Holdings (MIAX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $382M | $376M |
| Revenue growth, Y/Y | -10% | +11% |
| Gross margin | — | 34.8% |
| Operating margin | 2.3% | 12.5% |
| Net earnings | $5.4M | $52.5M |
| Net margin | 1.4% | 13.9% |
| Operating cash flow | $132M | $23.1M |
| Free cash flow | $129M | $21.6M |
| Market value | $1.1B | $3.8B |
| P/E | 12.2× | 11.8× |
| Analysts’ mean target | — | $44.80 |
Where the revenue comes from
Oppenheimer Holdings
- Advisory Fees: $155M (41%)
- Commissions from sales and trading: $107M (28%)
- Other revenues: $45.6M (12%)
- Bank Deposit Sweep Income: $25.6M (7%)
Miami International Holdings
- Transaction and clearing fees: $316M (84%)
- Access fees: $36.9M (10%)
- Market data fees: $13.9M (4%)
- Other revenue: $8.9M (2%)
Questions
Which is bigger, Oppenheimer Holdings or Miami International Holdings?
Oppenheimer Holdings is the larger company: $382M of revenue in its latest quarter (Q3 2026) against $376M for Miami International Holdings (Q3 2026).
Is Oppenheimer Holdings or Miami International Holdings growing faster?
Miami International Holdings is growing faster (+11% against -10% a year earlier).
Which is more profitable, Oppenheimer Holdings or Miami International Holdings?
Miami International Holdings is more profitable, with an operating margin of 12.5% against 2.3%.
More: Oppenheimer Holdings earnings · how Oppenheimer Holdings makes money · Miami International Holdings earnings · how Miami International Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.