The story
Founded by Dirk Graber in 2007.1
Overview
- Tickeron Frankfurt Stock Exchange1
- Industrye-commerce, optician1
- HeadquartersBerlin1
- Websitewww.misterspex.de
- Legal formGesellschaft mit beschränkter Haftung1
- Listed onFrankfurt Stock Exchange (MRX)1
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Agency And Execution brought in 52% of the revenue Mister Spex broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Agency And Execution | $541.5M | $695.2M | $1.0B |
| Clearing | $373.6M | $466.3M | $528.2M |
| Market Making | $153.9M | $207.8M | $235.5M |
| Hedging And Investment Solutions | $128.1M | $161.5M | $196.8M |
| Corporate | $47.5M | $63.9M | $14.4M |
Regions
United States brought in 37% of the revenue Mister Spex broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $422.0M | $581.7M | $754.7M |
| United Kingdoms | $607.2M | $710.8M | $741.0M |
| Rest of the World | $215.4M | $302.2M | $528.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs85¢$1.7B
- Profit15¢$307.7M
Out of $2.0B in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending2¢$13.1M
- Kept or used elsewhere98¢$654.4M
Out of $667.5M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Commission and fee income | $1.8B | $1.6B | $1.3B |
| Commission and fee expense | -$845.5M | -$762.0M | -$637.5M |
| Net commission income/(expense) | $977.5M | $856.1M | $704.9M |
| Net trading income | $851.9M | $492.4M | $411.4M |
| Interest income | $912.8M | $765.2M | $591.8M |
| Interest expense | -$760.2M | -$538.1M | -$470.2M |
| Net interest income | $152.6M | $227.1M | $121.6M |
| Net physical commodities income | $42.1M | $19.1M | $6.7M |
| Revenue | $2.0B | $1.6B | $1.2B |
| Compensation and benefits | -$1.2B | -$971.1M | -$770.3M |
| Depreciation and amortisation | -$36.1M | -$29.5M | -$27.1M |
| Other expenses | -$353.9M | -$306.3M | -$237.4M |
| Total expenses | -$1.6B | -$1.3B | -$1.0B |
| Impairment of goodwill | $0 | $0 | -$10.7M |
| Net recovery of/(provision) for credit losses | $700.0K | $1.7M | -$7.1M |
| Bargain purchase gain on acquisitions | $3.6M | $0 | $300.0K |
| Other income | $7.4M | $6.3M | $3.4M |
| Share of results in associates and joint ventures | $0 | $0 | $800.0K |
| Profit before tax from continuing operations | $411.6M | $295.8M | $196.5M |
| Tax | -$103.7M | -$77.8M | -$55.2M |
| Profit after tax from continuing operations | $307.9M | $218.0M | $141.3M |
| Loss after tax from discontinued operations | -$200.0K | $0 | $0 |
| Profit after tax | $307.7M | $218.0M | $141.3M |
| Ordinary shareholders of the Group | $293.9M | $204.7M | $128.0M |
| Non-controlling interest | $500.0K | $0 | $0 |
| Other equity holders | $13.3M | $13.3M | $13.3M |
| Basic (in dollars per share) | $4.12 | $2.96 | $1.94 |
| Diluted (in dollars per share) | $3.86 | $2.72 | $1.82 |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Goodwill | $237.4M | $176.5M | |
| Intangible assets | $98.0M | $56.5M | |
| Property, plant and equipment | $34.0M | $20.8M | |
| Right of use asset | $76.9M | $59.9M | $40.6M |
| Investments | $28.5M | $24.0M | |
| Trade and other receivables | $50.2M | $0 | |
| Derivative instruments | $19.6M | $0 | |
| Deferred tax | $30.6M | $46.7M | |
| Treasury instruments (unpledged) | $83.1M | $53.5M | |
| Treasury instruments (pledged as collateral) | $319.9M | $46.1M | |
| Total non-current assets | $978.2M | $484.0M | |
| Corporate income tax receivable | $27.6M | $12.5M | |
| Trade and other receivables | $11.0B | $7.6B | |
| Inventory | $483.7M | $35.8M | |
| Derivative instruments | $2.3B | $1.2B | |
| Stock borrowing | $2.9B | $1.8B | |
| Treasury instruments (unpledged) | $138.5M | $556.2M | |
| Treasury instruments (pledged) and assets held under agreements to sell (repledged) | $3.5B | $2.9B | |
| Reverse repurchase agreements | $3.1B | $2.5B | |
| Cash and cash equivalents | $2.9B | $2.6B | $1.5B |
| Assets classified as held for sale | $357.4M | $0 | |
| Total current assets | $33.7B | $23.8B | |
| Total assets | $34.7B | $24.3B | |
| Repurchase agreements | $4.1B | $2.3B | |
| Trade and other payables | $13.0B | $9.7B | |
| Stock lending | $5.5B | $5.0B | |
| Short securities | $2.2B | $1.7B | |
| Short term borrowings | $200.0M | $152.0M | |
| Lease liability | $9.9M | $10.5M | |
| Derivative instruments | $2.2B | $751.7M | |
| Corporate tax | $8.5M | $41.9M | |
| Debt securities | $3.4B | $2.1B | |
| Provisions | $3.8M | $600.0K | |
| Liabilities related to assets classified as held for sale | $294.8M | $0 | |
| Total current liabilities | $31.0B | $21.8B | |
| Lease liability | $87.4M | $67.0M | |
| Derivative instruments | $19.4M | $0 | |
| Debt securities | $2.3B | $1.5B | |
| Deferred tax liability | $14.0M | $4.5M | |
| Total non-current liabilities | $2.4B | $1.6B | |
| Total liabilities | $33.4B | $23.3B | |
| Total net assets | $1.3B | $976.9M | |
| Share capital | $116.0K | $115.0K | |
| Share premium | $227.2M | $202.6M | |
| Retained earnings | $982.0M | $722.4M | |
| Own shares | -$58.5M | -$23.2M | |
| Other reserves | $15.4M | -$22.6M | |
| Total equity attributable to the ordinary shareholders of the Group | $1.2B | $879.3M | |
| Non-controlling interest | -$200.0K | $0 | |
| Additional Tier 1 capital (AT1) | $97.6M | $97.6M | |
| Total equity | $1.3B | $976.9M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Profit before tax from continuing operations | $411.6M | $295.8M | $196.5M |
| Depreciation, amortization & impairment of property, plant & equipment, right-of-use asset and intangibles | $36.1M | $28.8M | $21.9M |
| Bargain purchase gain on acquisitions | -$3.6M | $0 | -$300.0K |
| Impairment of goodwill | $0 | $0 | $10.7M |
| Net recovery of/(provision) for credit losses | -$700.0K | -$1.7M | $7.1M |
| Share-based compensation expense | $43.5M | $29.6M | $20.3M |
| Share of results in associates and joint ventures | $0 | $0 | -$800.0K |
| Other non-cash movements including exchange rate movements | -$49.7M | $16.8M | -$6.6M |
| Adjustments for decrease (increase) in trade and other receivables | -$2.6B | -$2.8B | $777.6M |
| Adjustments for increase (decrease) in trade and other payables | $2.3B | $3.0B | -$709.5M |
| (Increase)/decrease in fixed income securities | $6.8M | -$11.0M | -$76.7M |
| (Increase) in treasury instruments | -$469.6M | -$663.1M | -$185.9M |
| (Decrease)/Increase in net stock borrowing and lending | -$549.4M | $3.3B | $319.6M |
| (Increase) in equity instruments | -$1.7B | -$3.4B | -$173.3M |
| Increase/ (decrease) in net repurchase and reverse repurchase agreements | $1.2B | -$103.7M | -$116.3M |
| Net decrease/(increase) in derivative instruments | $469.3M | -$188.1M | -$66.9M |
| Net increase in debt securities | $2.1B | $1.4B | $1.0B |
| Adjustments For Increase (Decrease) In Borrowings | $27.8M | $152.0M | -$148.7M |
| (Increase)/decrease in inventory | -$422.0M | $127.6M | -$127.6M |
| Corporation tax paid | -$140.9M | -$58.1M | -$55.9M |
| Net cash inflow from operating activities | $667.5M | $1.2B | $735.0M |
| Redemption of investment in associate | $0 | $0 | $6.4M |
| Acquisition of businesses, net of cash acquired | -$241.6M | -$11.0M | -$90.3M |
| Payment of contingent consideration | $0 | $0 | -$1.6M |
| Purchase of investments | -$2.9M | -$5.1M | $0 |
| Proceeds from sale of investments | $0 | $700.0K | $0 |
| Purchase of intangible assets | -$6.7M | -$8.2M | -$3.1M |
| Purchase of property, plant and equipment | -$13.1M | -$11.7M | -$9.0M |
| Net cash used in investing activities | -$264.3M | -$35.3M | -$97.6M |
| Proceeds from issuance of ordinary shares | $0 | $73.1M | $0 |
| Issuance costs of ordinary shares | $0 | -$4.8M | $0 |
| Repayment of debt securities | -$6.3M | $0 | $0 |
| Purchase of own shares | -$44.1M | -$19.8M | -$3.1M |
| Dividends paid | -$55.5M | -$77.1M | -$58.3M |
| Lease incentive received | $0 | $6.4M | $0 |
| Payment of lease liabilities | -$18.0M | -$15.0M | -$11.4M |
| Net cash used in financing activities | -$123.9M | -$37.2M | -$72.8M |
| Net increase in cash and cash equivalents including cash within assets held for sale | $279.3M | $1.1B | $564.6M |
| Less: Net increase in cash within assets held for sale | -$13.5M | $0 | |
| Increase in cash | $265.8M | $1.1B | $564.6M |
| Effect of foreign exchange rate changes | $58.8M | -$17.9M | $8.8M |
| Interest received | $908.9M | $768.3M | $595.0M |
| Interest paid | $751.1M | $521.9M | $470.2M |
| Dividends received | $0 | $0 | $0 |
Leadership
Who has led Mister Spex, and when. Pick a name to see everywhere that person has worked.
- FounderDirk Graber1
Employees over time
Timeline
Links
- Websitewww.misterspex.de1
- X (Twitter)x.com/misterspex1
- Facebookwww.facebook.com/misterspex1
- Instagramwww.instagram.com/misterspex_official1
- YouTubewww.youtube.com/channel/UCocKrwGaJ_s309X6aVW3a2g1
- WikidataQ27313697
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataMister Spex on Wikidata
- 2SEC EDGARMister Spex 10-K for fiscal 2025
- 3Wikimedia CommonsMister Spex photo by Sebastian Wallroth, CC BY 4.0
- 4SEC EDGARMister Spex 10-K for fiscal 2022