MarketAxess Holdings Inc.

MarketAxess Holdings Inc.

MKTX
MarketAxess Holdings Inc.US flagNASDAQ Global Select
116.93
USD
-3.69
- -
4.16BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.47
7.12
8.26
9.98
10.67
11.79
13.79
18.45
18.63
19.17
20.04
21.73
22.84
23.84
Basic EPS, GAAP
2.06
2.03
2.62
3.42
4.02
4.68
5.53
8.01
6.88
6.68
6.87
7.29
6.66
8.47
Free Cash Flow per Basic Share
2.05
2.85
3.26
2.26
4.23
5.09
6.84
10.43
7.05
7.37
8.64
9.98
10.09
7.41
Dividend per Share
0.54
0.65
0.8
1.04
1.33
1.69
2.06
2.42
2.66
2.83
2.92
3
3.11
3.12
Book Value per Share
1.39
2.76
4.58
6.93
9.59
12.54
15.94
21.4
25.52
29.4
33.14
37.39
41.53
43.49
Tangible Book Value per Share
6.55
7.25
8.9
10.98
12.25
14.75
15.16
19.07
20.53
22.11
24.96
28.03
20.62
22.31
Basic Weighted Avg Shares
37
37
37
37
37
37
37
37
38
37
38
38
37
37
Sales/Revenue/Turnover
239
263
303
368
393
436
511
689
699
718
753
817
846
871
Operating Margin (%)
44.94
45.11
48.8
51.66
50.74
48.81
49.06
54.38
48.25
45.51
41.86
41.72
40.39
40.68
Depreciation Expense
13
17
19
18
19
23
33
43
60
67
76
80
84
85
Net Income, GAAP
76
75
96
126
148
173
205
299
258
250
258
274
247
309
Effective Tax Rate (%)
36.09
36.89
35.07
34.15
26.6
20.74
20.4
20.03
22.77
26.03
22.44
23.95
32.72
17.29
Profit Margin (%)
31.84
28.47
31.69
34.31
37.64
39.68
40.07
43.44
36.9
34.84
34.29
33.56
29.14
35.53
Working Capital
215
247
259
312
320
390
414
668
699
683
763
886
741
761
LT Debt
- -
- -
- -
- -
- -
- -
98
94
88
83
80
73
285
292
Total Equity
310
334
391
468
515
608
770
955
1,041
1,081
1,293
1,389
1,158
1,204
Return on Invested Capital (%)
24.63
22.86
26.12
28.74
29.21
29.25
26.47
30.33
23.03
20.48
19
18.23
15.56
19.35
Return on Capital (%)
333.15
97.73
71.12
59.6
48.64
42.31
35.56
37.96
26.67
22.49
20.7
19.65
14.92
18.61
Return on Common Equity (%)
- -
97.73
71.12
59.6
48.64
42.31
38.86
43.05
29.36
24.31
22
20.69
16.75
20.76

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
220
228
LT Finance Leases
67
65
64
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
37
36
36
Market Capitalization
6,495
6,716
6,027

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,239
1,159
1,532
Cash, Cash Equivalents & STI
473
520
377
Accounts Receivable, Net
111
101
128
Inventories
- -
- -
- -
Total Current Liabilities
496
418
771
Payables & Accruals
496
418
771
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.18%
4.65%
-16.59%
Free Cash Flow
17.08%
1.02%
-0.36%
Net Income, GAAP
11.26%
-3.5%
-10.05%
Sales/Revenue/Turnover
11.23%
4.22%
3.57%
Total Cash Common Dividend
15.08%
4.97%
2.22%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
210
198
207
202
817
2025
209
219
209
209
846
2026
233
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.92
1.72
1.91
1.74
7.29
2025
0.4
1.91
1.84
2.52
6.66
2026
2.21
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.78
0.74
0.74
0.74
3
2025
0.79
0.76
0.8
0.77
3.11
2026
0.8
- -
- -
- -
- -

Company Description

APIChat
CEO
Christopher Robert Concannon
Full Time Employees
891
Sector
Financial Services
Industry
Financial - Capital Markets
Address
55 Hudson Yards New York City NY United States of America 10001
IPO Date
Nov 5, 2004
Business
MarketAxess Holdings Inc. is a leading financial technology company that operates a sophisticated electronic trading platform designed for institutional investors and broker-dealers globally. The company, founded in 2000 and headquartered in New York, New York, aims to enhance efficiency, provide diverse liquidity, and improve transaction pricing in the global fixed-income markets. MarketAxess offers a broad range of fixed-income instruments for trading, including U.S. investment-grade and high-yield corporate bonds, U.S. Treasuries, municipal bonds, emerging market debt, and Eurobonds. A core component of its offering is the patented Open Trading protocol, an all-to-all anonymous trading environment that connects a vast network of market participants to facilitate bond transactions and boost liquidity. This platform is leveraged by over 2,000 firms worldwide. Beyond trading, MarketAxess delivers a comprehensive suite of trading-related products and services. These include advanced data and analytics like Composite+ (CP+), an AI-powered algorithmic pricing engine that provides real-time bond pricing for global credit and rates markets, assisting clients with informed trading decisions and automated strategies. The company also offers automated and algorithmic trading solutions such as Auto-X, designed to optimize workflows and reduce execution costs. Connectivity solutions ensure straight-through processing, while a range of pre- and post-trade services, including trade matching, trade publication, and regulatory reporting, streamline the entire trade lifecycle. MarketAxess generates a significant portion of its revenue from commissions on transactions executed on its platforms, complemented by income from information services and post-trade services. In recent developments, the company has focused on strategic international expansion and new product offerings, such as targeted block trading solutions and the international rollout of X-Pro, contributing to strong financial performance in 2024. Further innovations in 2025 include the launch of Opening and Closing Auctions for U.S. credit, aimed at improving price discovery and liquidity.

Company News

APIChat
  • MarketAxess (MKTX) Could Be a Great Choice

  • MarketAxess Holdings Inc. (MKTX) Presents at Piper Sandler Global Exchange and Fintech Conference Transcript

  • MarketAxess Announces Trading Volume Statistics for May 2026

  • The Case for Holding MarketAxess Stock: What Investors Need to Know

  • MarketAxess to Participate in Upcoming Investor Conferences

  • Sone Capital Management Adds to MarketAxess Stake, According to Recent SEC Filing

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  • MKTX Q1 Earnings Beat Estimates on Robust Commission Revenue Growth

  • MarketAxess Q1 Earnings Call Highlights

  • MarketAxess Holdings Inc. (MKTX) Q1 2026 Earnings Call Transcript

  • MarketAxess (MKTX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

  • MarketAxess (MKTX) Surpasses Q1 Earnings and Revenue Estimates

  • MarketAxess Reports First Quarter 2026 Financial Results

  • MarketAxess Announces Trading Volume Statistics for April 2026

  • MarketAxess and Moment Partner to Provide Retail Access to Institutional Fixed-Income Liquidity

  • Why MarketAxess (MKTX) is a Great Dividend Stock Right Now

  • MarketAxess (MKTX) Reports Next Week: Wall Street Expects Earnings Growth

  • BGC or MKTX: Which Is the Better Value Stock Right Now?

  • Robinhood Markets, Inc. (HOOD) Q1 Earnings and Revenues Miss Estimates

  • Will MarketAxess (MKTX) Beat Estimates Again in Its Next Earnings Report?