MarketAxess Holdings Inc. logo MKTX - MarketAxess Holdings Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 3
HOLD 16
SELL 4
STRONG
SELL
0
| PRICE TARGET: $192.00 DETAILS
HIGH: $215.00
LOW: $170.00
MEDIAN: $195.00
CONSENSUS: $192.00
UPSIDE: 40.01%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
Revenue
Revenue 849.2 817.9 750.9 718.7 701.0 689.1 511.4 435.6 397.5 369.9 303.1 261.9 238.7 198.2 181.1 146.2 114.4 93.1 93.6 83.3 78.6 75.8 58.5 0.7 6.6
Cost of Revenue 255.8 244.3 226.8 199.2 172.2 134.0 97.6 77.8 64.4 53.0 53 52.4 44.3 29.2 6.8 6.3 6.8 7.9 7.2 6.7 0 0 0 0 0
Gross Profit 593.4 573.6 524.1 519.5 528.8 555.1 413.7 357.8 333.1 317.0 250.1 209.4 194.4 169.0 174.3 139.9 107.6 85.2 86.5 76.6 0 0 58.5 0.7 6.6
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 42.2 39.5 7.9
Other Expenses 243.4 234.7 205.4 192.7 191.5 180.4 162.9 145.2 131.3 125.4 102.2 91.8 86.8 82.3 95.6 89.0 77.6 72.4 69.2 68.0 0 0 11.9 (2.6) 63.8
Operating Expenses 243.4 234.7 205.4 192.7 191.5 180.4 162.9 145.2 131.3 125.4 102.2 91.8 86.8 82.3 95.6 89.0 77.6 72.4 69.2 68.0 0 0 54.1 36.8 71.7
Operating Income
Operating Income 350.0 338.9 318.7 326.8 337.3 374.7 250.9 212.6 201.8 191.6 147.9 117.6 107.7 86.7 78.7 50.9 30.0 12.8 17.3 8.6 11.5 17.3 4.4 (36.1) (65.1)
Interest Expense 1.5 1.6 2.0 0.7 0.8 1.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 24.4 26.0 22.4 5.0 0.4 2.4 8.1 6.1 3.6 2.1 0.9 0.5 0.4 1.1 1.2 1.2 1.2 3.5 5.2 4.6 0 0 0.4 0.7 0
Profitability
EBITDA 452.7 442.6 411.1 406.1 395.0 418.3 290.1 241.2 221.0 209.4 166.4 135.9 121.4 94.9 85.5 57.3 36.8 20.7 24.4 15.3 16.1 20.8 9.1 (30.1) (60.0)
EBIT 368.5 362.1 334.7 339.0 334.8 375.5 257.4 218.1 201.8 191.6 147.9 118.5 107.3 86.7 78.7 50.9 30.0 12.8 17.3 8.6 11.5 17.3 4.4 (36.7) (65.1)
Income Before Tax 367.0 360.5 332.7 338.3 333.9 374.4 257.4 218.1 201.8 191.6 147.9 118.5 107.3 86.7 78.7 50.9 30.0 12.8 17.3 8.6 11.6 17.3 4.4 (36.1) (65.1)
Income Tax Expense 120.1 86.4 74.6 88.1 76.0 75.0 52.5 45.2 53.7 65.4 51.9 43.7 38.7 26.6 31.0 19.5 13.9 4.9 6.9 3.2 3.4 (40.3) 0.2 0 0
Net Income 246.6 274.2 258.1 250.2 257.9 299.4 204.9 172.9 148.1 126.2 96.0 74.8 68.4 60.1 47.7 31.4 16.1 7.9 10.3 5.4 8.1 57.6 4.2 (36.1) (65.1)
Per Share Data
EPS (Basic) 6.66 7.29 6.87 6.68 6.88 8.01 5.53 4.68 4.02 3.42 2.62 2.03 2.06 1.65 1.29 0.86 0.44 0.23 0.32 0.18 0.29 6.76 -2.20 -10.92 -21.01
EPS (Diluted) 6.66 7.28 6.85 6.65 6.77 7.85 5.40 4.57 3.89 3.34 2.55 1.97 2.01 1.59 1.20 0.80 0.42 0.22 0.30 0.15 0.23 1.88 -2.20 -1.21 -21.01
Shares Outstanding 36.8 37.6 37.5 37.5 37.5 37.4 37.1 37.0 36.9 36.8 36.7 36.9 36.9 36.5 37.0 33.2 33.3 32.8 32.3 30.6 28.2 7.1 3.3 3.3 3.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001
Current Assets
Cash & Cash Equivalents 519.7 544.5 451.3 430.7 506.7 460.9 270.1 246.3 167.0 168.2 103.3 107.3 97.7 20.6 0 0
Short-Term Investments 48.7 104.8 71.0 34.0 11.2 18.3 120.8 0 0 0 71.0 35.2 9.6 15.6 14.6 0
Net Receivables 463.9 341.9 662.6 465.9 403.7 359.5 62.0 57.5 52.6 50.7 23.1 13.3 14.4 9.1 0 0
Inventory 0 0 0 0 0 0 0 (22.5) (18.7) (11.6) 0 0 0 0 0 0
Other Current Assets 0 47.1 45.1 50.9 50.2 21.0 (31.3) 5.2 4.4 2.4 5.0 4.3 0 3.2 0 0
Total Current Assets 1,079.3 1,145.9 1,345.1 1,070.5 1,040.3 888.7 453.0 303.9 219.7 218.9 202.5 160.1 118.8 48.4 14.6 0
Non-Current Assets
Property, Plant & Equipment 112.4 165.4 165.7 166.4 167.0 161.1 153.2 63.0 38.5 31.1 6.9 3.4 5.1 3.0 3.5 0
Goodwill 283.7 236.7 236.7 154.8 154.8 147.4 146.9 59.7 59.7 59.7 0 0 0 0 0 0
Intangible Assets 110.6 98.1 119.1 98.1 116.4 95.4 61.0 3.0 3.3 3.7 41.0 44.1 14.4 4.4 0.3 0
Long-Term Investments 170.7 60.5 63.9 49.8 24.9 9.8 109.6 240.1 239.5 194.4 0 (0.7) 5.8 0 0 0
Other Non-Current Assets 51.9 82.6 84.5 68.3 27.1 29.0 30.8 22.5 18.7 11.6 3.0 3.2 0 1.3 (3.8) 0
Total Non-Current Assets 729.3 643.3 669.9 537.3 490.1 442.7 501.9 391.7 361.6 309.1 74.8 86.3 57.9 8.7 3.8 0
Total Assets 1,808.6 1,789.2 2,015.1 1,607.8 1,530.5 1,331.4 954.9 695.5 581.2 528.0 277.3 246.4 176.7 57.2 39.4 56.0
Current Liabilities
Account Payables 199.7 37.3 37.0 55.3 71.2 44.4 22.8 29.4 14.2 15.1 0 0 5.8 4.8 5.0 0
Short-Term Debt 220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 3.5 2.8 2.7 2.5 4.3 2.3 2.8 3.7 0 0
Other Current Liabilities 0 0 0 (56.3) (59.7) (62.3) (50.9) (68.4) (50.7) (49.9) 0 0 (17.6) 0 (11.3) 0
Total Current Liabilities 585.4 259.8 582.3 387.7 341.0 220.4 39.5 48.6 30.0 25.2 30.5 21.6 2.8 17.8 0 0
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 (2.8) (2.7) (2.5) 0 0 0 0 0 0
Other Non-Current Liabilities 0 68.1 60.1 56.3 59.7 62.3 43.9 65.6 48.1 47.4 30.3 30.3 0 159.7 0 0
Total Non-Current Liabilities 64.9 140.7 139.8 139.0 148.1 155.9 145.4 39.1 36.5 34.8 30.3 30.3 17.6 159.7 0 0
Total Liabilities 650.3 400.6 722.1 526.7 489.1 376.4 184.8 87.7 66.5 60.0 60.8 51.9 20.4 177.5 34.6 0
Stockholders' Equity
Common Stock 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0
Retained Earnings 1,538.7 1,405.9 1,244.2 1,101.5 957.0 799.4 591.1 463.3 353.6 255.1 (55.4) (68.9) (99.6) (148.6) (141.3) 0
Accumulated Other Comprehensive Income (4.4) (34.7) (24.4) (37.7) (13.3) (4.7) (10.3) (12.4) (10.2) (12.2) (1.4) (1.3) (0.3) 0.0 0 0
Total Stockholders' Equity 1,145.7 1,388.7 1,293.0 1,081.1 1,041.3 955.1 770.1 607.9 514.8 468.0 216.5 194.5 156.3 (120.3) 4.8 (82.7)
Total Liabilities & Equity 1,808.6 1,789.2 2,015.1 1,607.8 1,530.5 1,331.4 954.9 695.5 581.2 528.0 277.3 246.4 176.7 57.2 39.4 56.0
Debt Metrics
Total Debt 284.9 72.7 79.7 82.7 88.4 93.6 98.0 22.5 17.5 10.5 0 0 0 0 0 0
Net Debt (234.8) (471.8) (371.6) (348.1) (418.3) (367.2) (172.1) (223.9) (149.5) (157.7) (103.3) (107.3) (97.7) (20.6) 0 0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002
Operating Activities
Net Income 246.9 274.2 258.1 250.2 257.9 299.4 204.9 172.9 148.1 126.2 8.1 58.6 4.2 (36.1)
Depreciation & Amortization 84.2 80.5 76.4 67.2 60.2 42.8 32.7 23.1 19.3 17.8 4.6 3.5 4.7 6.8
Stock-Based Compensation 30.9 29.7 29.2 29.9 27.3 25.6 25.3 15.8 14.4 14.5 0.6 0.0 1.5 0
Change in Working Capital (3.9) (3.5) (25.7) (43.2) (66.0) 27.1 1.2 11.1 (22.3) (76.8) (1.7) (4.7) 1.3 3.5
Other Non-Cash Items 2.0 8.3 1.6 (8.2) (0.5) (0.6) (0.8) 2.3 2.0 1.2 4.7 4.3 5.3 8.2
Operating Cash Flow 382.1 385.2 333.8 289.2 282.1 404.5 265.9 223.9 168.0 80.3 16.9 20.4 17.2 (17.6)
Investing Activities
Capital Expenditure (8.2) (9.9) (52.4) (51.9) (50.6) (45.6) (34.7) (47.6) (25.6) (18.5) (6.2) (10.4) (4.7) (1.1)
Acquisitions (36.5) 0 (78.5) (34.4) (17.1) (23.3) (97.4) 11.7 (13.5) (12.1) (4.8) (7.0) 3.3 0
Purchases of Investments (13.0) 0 (28.8) (83.9) (7.9) (32.9) (160.8) (336.5) (215.8) (81.4) (152.6) (55.9) (45.3) (45.7)
Sales/Maturities of Investments 10.8 0 4.5 157.1 58.1 170.7 170.9 333.8 187.8 46.3 98.4 65.4 41.2 57.6
Other Investing Activities 0 (77.0) (43.1) (73.1) (50.2) (30.6) (0.0) (11.7) 13.4 12.5 6.2 10.4 (3.3) (1.4)
Investing Cash Flow (96.7) (86.9) (155.3) (86.3) (67.7) 68.9 (122.1) (50.3) (53.7) (53.2) (59.0) 2.5 (8.9) 9.5
Financing Activities
Net Debt Issuance 220 0 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased (420.0) (75.5) (25.8) (87.5) (63.2) (16.1) (17.3) (25.2) (42.5) (23.9) 0 0 0 (0.0)
Dividends Paid (115.2) (112.7) (109.7) (105.9) (99.8) (90.6) (76.2) (62.4) (48.9) (38.5) 0 0 0 0
Other Financing Activities 0 (13.2) (12.5) (26.2) (26.8) (38.4) (25.8) 0 (27.7) 4.3 0 (4.9) 0.0 (8.4)
Financing Cash Flow (332.4) (201.4) (147.1) (242.4) (189.8) (145.1) (118.1) (92.7) (117.1) (55.8) 2.7 54.2 0.1 8.4
Cash Position
Net Change in Cash (23.1) 88.8 39.0 (52.9) 17.5 333.8 26.8 79.3 (1.2) (31.5) (39.5) 77.1 8.4 0.3
Cash at Beginning 591.6 611.7 572.7 625.6 608.0 274.3 247.5 168.2 168.2 199.7 97.7 20.6 12.2 11.9
Cash at End 568.5 700.5 611.7 572.7 625.6 608.0 274.3 247.5 167.0 168.2 58.2 97.7 20.6 12.2
Free Cash Flow 373.9 375.3 281.3 237.4 231.5 358.9 231.2 176.3 142.5 61.8 10.7 10.0 12.4 (18.7)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
Income Statement
Revenue 849.2 817.9 750.9 718.7 701.0 689.1 511.4 435.6 397.5 369.9 303.1 261.9 238.7 198.2 181.1 146.2 114.4 93.1 93.6 83.3 78.6 75.8 58.5 0.7 6.6
Gross Profit 593.4 573.6 524.1 519.5 528.8 555.1 413.7 357.8 333.1 317.0 250.1 209.4 194.4 169.0 174.3 139.9 107.6 85.2 86.5 76.6 0 0 58.5 0.7 6.6
Operating Income 350.0 338.9 318.7 326.8 337.3 374.7 250.9 212.6 201.8 191.6 147.9 117.6 107.7 86.7 78.7 50.9 30.0 12.8 17.3 8.6 11.5 17.3 4.4 (36.1) (65.1)
Net Income 246.6 274.2 258.1 250.2 257.9 299.4 204.9 172.9 148.1 126.2 96.0 74.8 68.4 60.1 47.7 31.4 16.1 7.9 10.3 5.4 8.1 57.6 4.2 (36.1) (65.1)
EPS (Diluted) 6.66 7.28 6.85 6.65 6.77 7.85 5.40 4.57 3.89 3.34 2.55 1.97 2.01 1.59 1.20 0.80 0.42 0.22 0.30 0.15 0.23 1.88 -2.20 -1.21 -21.01
Balance Sheet
Cash & Equivalents 519.7 544.5 451.3 430.7 506.7 460.9 270.1 246.3 167.0 168.2 103.3 107.3 97.7 20.6 0 0
Total Assets 1,808.6 1,789.2 2,015.1 1,607.8 1,530.5 1,331.4 954.9 695.5 581.2 528.0 277.3 246.4 176.7 57.2 39.4 56.0
Total Debt 284.9 72.7 79.7 82.7 88.4 93.6 98.0 22.5 17.5 10.5 0 0 0 0 0 0
Stockholders' Equity 1,145.7 1,388.7 1,293.0 1,081.1 1,041.3 955.1 770.1 607.9 514.8 468.0 216.5 194.5 156.3 (120.3) 4.8 (82.7)
Cash Flow
Operating Cash Flow 382.1 385.2 333.8 289.2 282.1 404.5 265.9 223.9 168.0 80.3 16.9 20.4 17.2 (17.6)
Capital Expenditure (8.2) (9.9) (52.4) (51.9) (50.6) (45.6) (34.7) (47.6) (25.6) (18.5) (6.2) (10.4) (4.7) (1.1)
Free Cash Flow 373.9 375.3 281.3 237.4 231.5 358.9 231.2 176.3 142.5 61.8 10.7 10.0 12.4 (18.7)