MKTX
Company Description
MarketAxess Holdings Inc. develops and operates a premier electronic trading platform, serving institutional investors and broker-dealers globally. This platform provides essential access to deep liquidity across a broad spectrum of fixed-income assets, including U.S. investment-grade and high-yield corporate bonds, U.S. Treasuries, municipal bonds, emerging market debt, and Eurobonds, among other debt securities. Through its innovative Open Trading protocols, the company facilitates anonymous, "all-to-all" corporate bond transactions between its diverse client base. Beyond its core trading capabilities, MarketAxess offers a comprehensive array of value-added products and services. These include Composite+ pricing and other sophisticated market data tools designed to inform trading strategies, as well as auto-execution and custom workflow solutions. The company also provides robust connectivity to ensure straight-through processing and specialized technology services aimed at optimizing trading environments. Additionally, MarketAxess delivers vital pre- and post-trade support, covering trade matching, publication, regulatory reporting, and extensive market and reference data for a wide range of financial instruments. Founded in 2000, MarketAxess Holdings Inc. maintains its headquarters in New York, New York.
Track Record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 849.20M | 817.92M | 750.90M | 718.71M | 701.03M | 689.12M | 511.35M | 435.56M | 397.47M | 369.92M | 303.10M | 261.87M |
| Net Income | 246.63M | 274.18M | 258.06M | 250.22M | 257.89M | 299.38M | 204.90M | 172.85M | 148.09M | 126.17M | 96.04M | 74.81M |
| EPS | 6.66 | 7.29 | 6.87 | 6.68 | 6.88 | 8.01 | 5.53 | 4.68 | 4.02 | 3.42 | 2.62 | 2.03 |
| Free Cash Flow | 373.94M | 328.67M | 281.32M | 237.36M | 231.47M | 358.86M | 231.24M | 176.32M | 142.48M | 61.79M | 104.81M | 95.17M |
| FCF / Share | 10.16 | 8.74 | 7.49 | 6.33 | 6.17 | 9.61 | 6.24 | 4.77 | 3.86 | 1.68 | 2.86 | 2.58 |
| Operating CF | 382.14M | 385.24M | 333.77M | 289.23M | 282.09M | 404.49M | 265.94M | 223.92M | 168.03M | 80.29M | 120.20M | 109.95M |
| Total Assets | 1.81B | 1.79B | 2.02B | 1.61B | 1.53B | 1.33B | 954.93M | 695.54M | 581.23M | 528.04M | 439.04M | 379.88M |
| Total Debt | 284.94M | 72.65M | 79.68M | 82.68M | 88.42M | 93.61M | 97.99M | 22.47M | 17.52M | 10.52M | 0 | 0 |
| Cash & Equiv | 519.73M | 544.48M | 451.28M | 430.75M | 506.74M | 460.86M | 270.12M | 246.32M | 167.01M | 168.24M | 199.73M | 168.92M |
| Book Value | 1.15B | 1.39B | 1.29B | 1.08B | 1.04B | 955.06M | 770.09M | 607.88M | 514.77M | 468.01M | 390.71M | 334.21M |
| Return on Equity | 0.22 | 0.20 | 0.20 | 0.23 | 0.25 | 0.31 | 0.27 | 0.28 | 0.29 | 0.27 | 0.25 | 0.22 |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 233.38M | 207.40M | 210.58M | 224.29M | 206.93M | 201.76M | 207.94M | 197.25M | 211.66M | 194.56M | 173.00M | 179.85M |
| Net Income | 77.88M | 92.24M | 68.18M | 71.15M | 15.06M | 65.14M | 71.49M | 64.94M | 72.61M | 69.63M | 54.94M | 59.86M |
| EPS | 2.21 | 2.51 | 1.84 | 1.91 | 0.40 | 1.74 | 1.91 | 1.72 | 1.92 | 1.84 | 1.47 | 1.60 |
| Free Cash Flow | (75.59M) | 143.55M | 77.17M | 91.00M | 12.67M | 165.20M | 82.92M | 100.66M | (20.11M) | 128.29M | 63.09M | 93.31M |
| FCF / Share | -2.14 | 3.90 | 2.08 | 2.45 | 0.34 | 4.41 | 2.21 | 2.67 | -0.53 | 3.40 | 1.68 | 2.49 |
| Operating CF | (75.33M) | 158.63M | 90.16M | 103.71M | 29.63M | 176.25M | 95.09M | 118.85M | (4.95M) | 141.69M | 79.16M | 105.39M |
| Total Assets | 2.30B | 1.81B | 2.01B | 1.97B | 1.88B | 1.79B | 1.83B | 1.89B | 1.93B | 2.02B | 1.74B | 1.62B |
| Total Debt | 291.96M | 284.94M | 66.87M | 69.23M | 70.80M | 72.65M | 75.08M | 76.08M | 78.07M | 79.68M | 79.17M | 79.92M |
| Cash & Equiv | 426.36M | 519.73M | 473.30M | 462.84M | 486.22M | 544.48M | 446.35M | 434.06M | 376.68M | 451.28M | 420.50M | 396.49M |
| Book Value | 1.19B | 1.15B | 1.38B | 1.39B | 1.35B | 1.39B | 1.39B | 1.33B | 1.32B | 1.29B | 1.19B | 1.17B |
| Return on Equity | 0.07 | 0.08 | 0.05 | 0.05 | 0.01 | 0.05 | 0.05 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 |