MKTX

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MarketAxess Holdings, Inc.

Regulated industry Sells to businessesTags from an AI model reading the company description.

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Key Metrics

Previous Close: $164.22
52-Week Range: $108.75 – $195.97
Market Cap: $5.78B
P/E (TTM): 19.40
EPS (TTM): 8.46
Dividend Yield: 1.90%

Advanced Metrics

Price/Book: 4.66
PEG Ratio: 1.23
Return on Equity: 23.14%
Return on Assets: 10.15%
Gross Margin: 61.66%
Operating Margin: 41.86%
Profit Margin: 35.22%
Current Ratio: 7.46
Debt/Equity: 0.14
Total Debt: $178.91M
Free Cash Flow: $-457.79M
Revenue Growth: -0.50%
Earnings Growth: 1.00%
Enterprise Value: $5.62B

MKTX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$718.30M	$752.55M	$817.10M	$846.27M
Cost of Revenue	$252.73M	$286.73M	$325.91M	$343.41M
Gross Profit	$465.57M	$465.82M	$491.19M	$502.85M
Selling, General & Admin	$77.25M	$80.24M	$76.49M	$84.32M
Operating Expenses	$138.69M	$150.80M	$150.32M	$161.02M
Operating Income	$326.88M	$315.02M	$340.87M	$341.84M
EBITDA	$406.14M	$411.09M	$442.61M	$452.70M
Pretax Income	$338.29M	$332.70M	$360.55M	$367.00M
Income Tax	$88.06M	$74.64M	$86.36M	$120.08M
Net Income	$250.22M	$258.06M	$274.18M	$246.63M
Diluted EPS	6.65	6.85	7.28	6.64
Diluted Shares	37.64M	37.65M	37.67M	37.14M

MKTX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$430.75M	$451.28M	$544.48M	$519.73M
Receivables	$465.86M	$662.62M	$341.92M	$482.98M
Current Assets	$1.07B	$1.35B	$1.15B	$1.16B
Total Assets	$1.61B	$2.02B	$1.79B	$1.93B
Current Liabilities	$387.70M	$582.30M	$259.85M	$417.81M
Long-Term Debt	—	—	—	$220.00M
Total Debt	$82.68M	$79.68M	$72.65M	$284.94M
Total Liabilities	$526.68M	$722.10M	$400.56M	$776.63M
Retained Earnings	$1.10B	$1.24B	$1.41B	$1.54B
Shareholders' Equity	$1.08B	$1.29B	$1.39B	$1.15B
Working Capital	$682.77M	$762.84M	$886.09M	$740.85M

MKTX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$289.23M	$333.77M	$385.24M	$382.14M
Capital Expenditure	-$51.87M	-$52.45M	-$56.56M	-$58.01M
Free Cash Flow	$237.36M	$281.32M	$328.67M	$324.13M
Depreciation & Amortisation	$67.15M	$76.41M	$80.46M	$84.22M
Stock-Based Compensation	$29.86M	$29.19M	$29.68M	$30.92M
Investing Cash Flow	-$86.27M	-$155.29M	-$86.94M	-$96.93M
Financing Cash Flow	-$242.38M	-$147.06M	-$201.38M	-$332.37M
Dividends Paid	-$105.94M	-$109.66M	-$112.70M	-$115.20M
Share Repurchases	-$87.54M	$0.00	-$75.47M	-$420.01M
Net Change in Cash	-$39.42M	$31.42M	$96.92M	-$47.16M

MKTX Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$219.46M	$208.82M	$209.41M	$233.38M	$218.41M
Cost of Revenue	$89.11M	$83.89M	$86.27M	$94.98M	$88.05M
Gross Profit	$130.36M	$124.93M	$123.14M	$138.40M	$130.37M
Selling, General & Admin	$19.30M	$19.69M	$27.52M	$18.27M	$21.18M
Operating Expenses	$38.49M	$39.35M	$47.13M	$37.48M	$40.49M
Operating Income	$91.86M	$85.58M	$76.01M	$100.92M	$89.88M
EBITDA	$118.61M	$115.39M	$102.33M	$127.92M	$112.91M
Pretax Income	$97.42M	$93.64M	$79.79M	$103.89M	$89.76M
Income Tax	$26.24M	$25.37M	-$12.61M	$25.78M	$21.44M
Net Income	$71.15M	$68.18M	$92.24M	$77.88M	$68.11M
Diluted EPS	1.91	1.84	2.51	2.20	1.93
Diluted Shares	37.30M	37.11M	36.68M	35.39M	35.24M

MKTX Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$462.84M	$473.30M	$519.73M	$377.30M	$245.79M
Receivables	$532.85M	$597.24M	$482.98M	$984.75M	$1.24B
Current Assets	$1.18B	$1.24B	$1.16B	$1.53B	$1.66B
Total Assets	$1.97B	$2.01B	$1.93B	$2.30B	$2.42B
Current Liabilities	$456.61M	$496.48M	$417.81M	$770.92M	$943.20M
Long-Term Debt	—	—	$220.00M	$228.25M	$115.91M
Total Debt	$69.23M	$66.87M	$284.94M	$291.96M	$178.91M
Total Liabilities	$574.04M	$623.73M	$776.63M	$1.10B	$1.17B
Retained Earnings	$1.43B	$1.47B	$1.54B	$1.59B	$1.63B
Shareholders' Equity	$1.39B	$1.38B	$1.15B	$1.19B	$1.24B
Working Capital	$726.52M	$742.36M	$740.85M	$760.65M	$714.23M

MKTX Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$103.71M	$90.16M	$158.63M	-$75.33M	$26.81M
Capital Expenditure	-$12.72M	-$12.99M	-$15.35M	-$17.35M	-$12.01M
Free Cash Flow	$91.00M	$77.17M	$143.28M	-$92.68M	$14.80M
Depreciation & Amortisation	$21.06M	$21.58M	$21.59M	$21.14M	$21.28M
Stock-Based Compensation	$8.01M	$8.37M	$7.20M	$9.15M	$8.68M
Investing Cash Flow	-$51.03M	-$11.82M	-$16.93M	-$19.26M	-$11.49M
Financing Cash Flow	-$65.25M	-$81.61M	-$108.44M	-$28.66M	-$143.61M
Dividends Paid	-$28.24M	-$29.45M	-$28.05M	-$28.40M	-$27.49M
Share Repurchases	-$36.69M	-$45.25M	-$300.00M	$0.00	$0.00
Net Change in Cash	-$12.56M	-$3.26M	$33.26M	-$123.26M	-$128.28M

Market Snapshot

About

MarketAxess operates an electronic trading platform for fixed-income securities, connecting institutional investors and dealers worldwide. The platform facilitates trading in corporate bonds, government securities, and other credit instruments, offering price transparency and execution services.