Tearsheet
Investment Highlights Market Valuation Price Chart Return vs. Risk About MRNO Interactive Breakdown Better Bets vs. MRNO Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Murano Global Investments (MRNO)

Market Price (10/31/2025): $2.62 | Market Cap: $207.8 Mil
Sector: Real Estate | Industry: Real Estate Development

Murano Global Investments (MRNO)

Market Price (10/31/2025): $2.62
Market Cap: $207.8 Mil
Sector: Real Estate
Industry: Real Estate Development

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 155%		 Weak multi-year price returns
2Y Excs Rtn is -141%, 3Y Excs Rtn is -151%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -211%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%		  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 5010%
2   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -195%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1722%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 155%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
2 Weak multi-year price returns
2Y Excs Rtn is -141%, 3Y Excs Rtn is -151%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.5 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -211%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 5010%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -195%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1722%

Market Valuation & Key Metrics

null

MRNO Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The -73.7% change in MRNO stock from 5/1/2025 to 10/30/2025 was primarily driven by a -80.3% change in the company's P/S Multiple.

501202510302025Change
Stock Price ($)9.962.62-73.69%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)547.42729.9533.34%
P/S Multiple1.440.28-80.27%
Shares Outstanding (Mil)79.3179.310.00%
Cumulative Contribution-73.69%

LTM = Last Twelve Months as of date shown
The -62.4% change in MRNO stock from 10/30/2024 to 10/30/2025 was primarily driven by a -76.9% change in the company's P/S Multiple.

1030202410302025Change
Stock Price ($)6.962.62-62.36%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)446.80729.9563.37%
P/S Multiple1.230.28-76.94%
Shares Outstanding (Mil)79.2479.31-0.08%
Cumulative Contribution-62.36%

LTM = Last Twelve Months as of date shown
null

null

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
MRNO Return---9%-8%-74%-73%
Peers Return27%26%-29%59%3%10%104%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
MRNO Win Rate--67%100%50%33% 
Peers Win Rate47%50%30%53%38%49% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
MRNO Max Drawdown---0%-58%-77% 
Peers Max Drawdown-30%-5%-39%-4%-23%-20% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: JOE, FOR, AXR, HHH, FPH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

Unique KeyEventMRNOS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-2.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven2.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven77 days464 days

Compare to JOE, FOR, AXR, HHH, FPH


In The Past

Murano Global Investments's stock fell -2.0% during the 2022 Inflation Shock from a high on 12/20/2022. A -2.0% loss requires a 2.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Murano Global Investments (MRNO)

Better Bets than Murano Global Investments (MRNO)

 MRNOBetter Performance than MRNO
MetricValueIndustry (Real Estate Development)
Rev Chg LTM154.6%SGD (1570.2%)
Op Mgn LTM-210.8%HHH (30.6%), JOE (27.1%), FOR (13.1%), FPH (15.8%), SKYH (-117.5%)
CFO/Rev LTM-13.0%HHH (30.4%), JOE (36.0%), FPH (76.4%), SDHC (-3.5%), JFB (-11.8%)
FCF/Rev LTM-195.4%HHH (30.3%), JOE (30.3%), FOR (-21.8%), FPH (76.4%), SDHC (-3.9%)
Total Yield-1717.2%HHH (5.2%), JOE (4.3%), FOR (12.2%), FPH (9.1%), SKYH (-6.3%)
 MRNOBetter Performance than MRNO
MetricValueAll Other Sectors
Rev Chg LTM154.6%NBIS (542.6%), CRDO (175.8%), ALAB (163.8%), EXE (169.1%), SW (163.8%)
Op Mgn LTM-210.8%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
CFO/Rev LTM-13.0%NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AMZN (18.1%)
FCF/Rev LTM-195.4%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AMZN (2.0%)
Total Yield-1717.2%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)
 Best Bets In Real Estate Sector
 MRNOCTRE WPC ADC NNN OHI O EPRT GLPI EPR FCPT
What You Pay           
P/E-0.130.139.441.919.424.756.824.616.524.922.4
P/EBIT-0.126.220.825.013.116.425.317.310.613.415.2
What You Get           
Rev Chg Q160.9%55.3%8.5%18.7%4.6%11.8%4.2%23.7%3.7%5.3%11.0%
Rev Chg LTM154.6%29.7%5.6%14.7%4.8%14.0%15.6%24.2%5.4%-0.6%8.3%
Rev Chg 3Y Avg�14.1%5.6%19.5%6.1%3.9%24.7%24.2%8.1%5.8%9.5%
FCF/Rev 3Y Avg�88.4%84.4%73.1%73.6%71.4%71.0%69.3%66.6%65.1%61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

Trade Ideas

Select past ideas related to MRNO. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_4302025_Short_Squeeze04302025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.8%-8.8%-26.6%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Murano Global Investments

Financials

MRNOJOEFORAXRHHHFPHMedian
NameMurano G.St. Joe Forestar Amrep Howard H.Five Poi. 
Mkt Price2.6254.8526.2022.2578.685.7724.23
Mkt Cap0.23.21.30.14.40.91.1
Rev LTM7304891,543481,771197609
Op Inc LTM-1,539132202135413182
FCF LTM-1,427148-336953615178
FCF 3Y Avg-22-45121676722
CFO LTM-95176-335953815180
CFO 3Y Avg-125-43121706767

Growth & Margins

MRNOJOEFORAXRHHHFPHMedian
NameMurano G.St. Joe Forestar Amrep Howard H.Five Poi. 
Rev Chg LTM154.6%26.9%2.3%-19.5%80.5%-19.7%14.6%
Rev Chg 3Y Avg-19.4%0.9%-4.7%14.5%73.9%14.5%
Rev Chg Q160.9%62.7%22.6%-6.5%-8.0%-85.4%8.1%
QoQ Delta Rev Chg LTM33.3%14.5%4.9%-2.5%-1.3%-18.1%1.8%
Op Mgn LTM-210.8%27.1%13.1%27.4%30.6%15.8%21.5%
Op Mgn 3Y Avg-24.2%14.3%18.6%26.2%-1.1%18.6%
QoQ Delta Op Mgn LTM-111.0%3.5%-0.6%3.0%-0.9%-12.9%-0.7%
CFO/Rev LTM-13.0%36.0%-21.7%18.7%30.4%76.4%24.5%
CFO/Rev 3Y Avg-29.9%-1.6%22.6%7.4%25.0%22.6%
FCF/Rev LTM-195.4%30.3%-21.8%17.6%30.3%76.4%23.9%
FCF/Rev 3Y Avg-2.6%-1.7%21.9%7.1%25.0%7.1%

Valuation

MRNOJOEFORAXRHHHFPHMedian
NameMurano G.St. Joe Forestar Amrep Howard H.Five Poi. 
Mkt Cap0.23.21.30.14.40.91.1
P/S0.36.50.92.42.54.42.5
P/EBIT-0.118.46.68.98.727.58.8
P/E-0.130.38.28.919.111.010.0
P/CFO-2.218.0-4.013.18.15.76.9
Total Yield-1,717.2%4.3%12.2%11.3%5.2%9.1%7.1%
Dividend Yield0.0%1.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-0.9%-4.6%11.7%-9.9%5.4%
D/E54.80.20.70.01.20.60.6
Net D/E50.10.10.5-0.40.90.10.3

Returns

MRNOJOEFORAXRHHHFPHMedian
NameMurano G.St. Joe Forestar Amrep Howard H.Five Poi. 
1M Rtn1.7%10.9%-1.5%-7.0%-4.2%-5.9%-2.9%
3M Rtn-64.6%8.9%5.6%0.0%14.5%8.3%7.0%
6M Rtn-73.7%28.2%35.2%-2.2%18.2%10.7%14.5%
12M Rtn-62.4%6.5%-18.4%-25.6%3.3%47.9%-7.6%
3Y Rtn-74.1%59.1%126.3%83.9%-153.1%83.9%
1M Excs Rtn-2.8%9.0%-4.3%-8.4%-9.4%-7.5%-5.9%
3M Excs Rtn-74.1%1.0%-5.2%-8.2%7.0%-0.7%-2.9%
6M Excs Rtn-95.4%6.5%13.5%-24.0%-3.5%-11.0%-7.2%
12M Excs Rtn-83.5%-12.5%-34.8%-43.0%-13.4%30.4%-24.1%
3Y Excs Rtn-151.0%-19.4%56.3%26.0%-59.7%26.0%

Financials

$ Mil | FY: 12/312024Q42024Q32024Q22024Q12023Q4
Period End12/31/20249/30/20246/30/20243/31/202412/31/2023
Filing Date5/15/202512/31/20249/4/20247/16/20245/1/2024
Key Financials Quarterly     
Total Revenue296166160107113
Ebitda-998-657-716-711
Operating Income-1,034-175-170-160-42
Net Income-1,629-849-941-148-97
EPS-20.55-10.72-11.88-1.87-1.22
Key Financials TTM     
Total Revenue TTM730547447350287
Ebitda TTM-2,379-1,370-810297445
Operating Income TTM-1,539-547-449-368-313
Net Income TTM-3,568-2,036-1,339-13958
Growth Rates Quarterly     
Total Revenue Growth160.9%152.8%151.2%146.3%-
EBITDA Growth-9540.0%-573.1%-282.9%-105.1%-
Operating Income Growth-2349.9%-128.1%-89.8%-52.6%-
Net Income Growth-1579.6%-456.3%-463.7%-404.0%-
Margins Quarterly     
EBITDA Margin-337.2%-394.8%-446.4%-6.7%9.3%
Operating Income Margin-349.5%-104.9%-105.7%-149.6%-37.2%
Net Income Margin-550.5%-510.1%-587.0%-138.0%-85.5%
Cash & Debt     
Total Cash9706088484146
Total Debt11,3819,7018,3447,3146,891
Net Debt / (Cash)10,4109,0948,2607,2316,744
Cash Flows Quarterly     
FCF from Operations-926918-9077
Cash Flows TTM     
FCF from Operations TTM-9573100159165
Returns to Shareholders Quarterly     
Dividends00000
Share Repurchases-19-0-024-56
Return on Invested Capital (ROIC) Quarterly     
ROIC-20.3%-3.5%-3.9%-3.9%-0.9%
Return on Invested Capital (ROIC) TTM     
ROIC TTM-7.5%-2.9%-2.5%-1.7%-2.0%

Price Behavior

MRNO Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-2.750.620.180.06-0.06-0.18
Up Beta-6.771.461.40-0.050.01-0.02
Down Beta-17.59-4.48-2.640.14-0.12-0.03
Up Capture-630%-254%-266%-67%-31%-4%
Bmk +ve Days13233574144420
Stock +ve Days7162449102256
Down Capture893%636%520%143%65%-25%
Bmk -ve Days8192952107330
Stock -ve Days14253763124235

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity10,897
Short Interest: % Change Since 93020259.4%
Average Daily Volume7,229
Days-to-Cover Short Interest1.51
Basic Shares Quantity79,305,736
Short % of Basic Shares0.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
12312024515202520-F 12/31/2024
9302024123120246-K 9/30/2024
630202490420246-K 6/30/2024
331202471620246-K 3/31/2024
12312023501202420-F 12/31/2023
123120222232024424B3 12/31/2022
630202210102023F-4/A 6/30/2022

Insider Activity

Expand for More

 

External Quote Links


Prefer one of these to Trefis? Tell us why.