VIRT
Virtu Financial, Inc.
Financial - Capital Markets
Market Cap$4.28B
5Y Perf.+110.4%
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Stock Comparison
VIRT vs MKTX
Revenue, margins, valuation, and 5-year total return — side by side.
MKTX
MarketAxess Holdings Inc.
Financial - Capital Markets
Market Cap$5.53B
5Y Perf.-70.7%
VIRT vs MKTX — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | VIRT | MKTX |
|---|---|---|
| Industry | Financial - Capital Markets | Financial - Capital Markets |
| Market Cap | $4.28B | $5.53B |
| Revenue (TTM) | $3.63B | $817M |
| Net Income (TTM) | $551M | $220M |
| Gross Margin | 48.0% | 68.9% |
| Operating Margin | 33.8% | 41.7% |
| Forward P/E | 8.4x | 18.2x |
| Total Debt | $8.98B | $73M |
| Cash & Equiv. | $1.06B | $544M |
VIRT vs MKTX — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
VIRT
MKTX
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Virtu Financial, In… (VIRT) | 100 | 210.4 | +110.4% |
| MarketAxess Holding… (MKTX) | 100 | 29.3 | -70.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: VIRT vs MKTX
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: VIRT leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. MarketAxess Holdings Inc. is the stronger pick specifically for capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
VIRT
Virtu Financial, Inc.
The Banking Pick
VIRT carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.40, yield 2.0%
- Rev growth 26.2%, EPS growth 72.7%
- 216.3% 10Y total return vs MKTX's 37.2%
Best for: income & stability and growth exposure
MKTX
MarketAxess Holdings Inc.
The Banking Pick
MKTX is the clearest fit if your priority is sleep-well-at-night.
- Lower volatility, beta -0.28, Low D/E 5.2%, current ratio 4.41x
- Lower D/E ratio (5.2% vs 454.9%)
Best for: sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | VIRT | 26.2% NII/revenue growth vs MKTX's 8.6% |
| Value | VIRT | Lower P/E (8.4x vs 18.2x) |
| Quality / Margins | VIRT | Efficiency ratio 0.1% vs MKTX's 0.3% (lower = leaner) |
| Stability / Safety | MKTX | Lower D/E ratio (5.2% vs 454.9%) |
| Dividends | VIRT | 2.0% yield, vs MKTX's 2.0% |
| Momentum (1Y) | VIRT | +23.6% vs MKTX's -33.6% |
| Efficiency (ROA) | VIRT | Efficiency ratio 0.1% vs MKTX's 0.3% |
VIRT vs MKTX — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2024
VIRT vs MKTX — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLVIRTLAGGINGMKTX
MKTXMarketAxess Holdings …
2leads
VIRTVirtu Financial, Inc.
2leads
6 Total Categories
CATEGORYLEADERvs MKTXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MKTX4/5
Valuation MetricsMultiples, price ratios, and targets
VIRT6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MKTX7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
VIRT6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
MKTX leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
VIRT is the larger business by revenue, generating $3.6B annually — 4.4x MKTX's $817M. MKTX is the more profitable business, keeping 33.6% of every revenue dollar as net income compared to VIRT's 12.9%.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| RevenueTrailing 12 months | $3.6B | $817M |
| EBITDAEarnings before interest/tax | $1.9B | $429M |
| Net IncomeAfter-tax profit | $551M | $220M |
| Free Cash FlowCash after capex | $1.1B | $346M |
| Gross MarginGross profit ÷ Revenue | +48.0% | +68.9% |
| Operating MarginEBIT ÷ Revenue | +33.8% | +41.7% |
| Net MarginNet income ÷ Revenue | +12.9% | +33.6% |
| FCF MarginFCF ÷ Revenue | +35.7% | +45.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +96.3% | -3.2% |
MKTX leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
VIRT leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 9.8x trailing earnings, VIRT trades at a 52% valuation discount to MKTX's 20.4x P/E. On an enterprise value basis, VIRT's 9.1x EV/EBITDA is more attractive than MKTX's 12.0x.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| Market CapShares × price | $4.3B | $5.5B |
| Enterprise ValueMkt cap + debt − cash | $12.2B | $5.1B |
| Trailing P/EPrice ÷ TTM EPS | 9.78x | 20.45x |
| Forward P/EPrice ÷ next-FY EPS est. | 8.37x | 18.16x |
| PEG RatioP/E ÷ EPS growth rate | — | 3.32x |
| EV / EBITDAEnterprise value multiple | 9.11x | 12.00x |
| Price / SalesMarket cap ÷ Revenue | 1.18x | 6.77x |
| Price / BookPrice ÷ Book value/share | 2.17x | 4.04x |
| Price / FCFMarket cap ÷ FCF | 3.30x | 14.73x |
VIRT leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
MKTX leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
VIRT delivers a 29.4% return on equity — every $100 of shareholder capital generates $29 in annual profit, vs $16 for MKTX. MKTX carries lower financial leverage with a 0.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to VIRT's 4.55x.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| ROE (TTM)Return on equity | +29.4% | +15.8% |
| ROA (TTM)Return on assets | +2.6% | +10.9% |
| ROICReturn on invested capital | +10.1% | +18.0% |
| ROCEReturn on capital employed | +7.7% | +23.0% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 4.55x | 0.05x |
| Net DebtTotal debt minus cash | $7.9B | -$472M |
| Cash & Equiv.Liquid assets | $1.1B | $544M |
| Total DebtShort + long-term debt | $9.0B | $73M |
| Interest CoverageEBIT ÷ Interest expense | 3.71x | 443.10x |
MKTX leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
VIRT leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in VIRT five years ago would be worth $19,274 today (with dividends reinvested), compared to $3,723 for MKTX. Over the past 12 months, VIRT leads with a +23.6% total return vs MKTX's -33.6%. The 3-year compound annual growth rate (CAGR) favors VIRT at 44.6% vs MKTX's -19.2% — a key indicator of consistent wealth creation.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| YTD ReturnYear-to-date | +54.7% | -16.2% |
| 1-Year ReturnPast 12 months | +23.6% | -33.6% |
| 3-Year ReturnCumulative with dividends | +202.2% | -47.3% |
| 5-Year ReturnCumulative with dividends | +92.7% | -62.8% |
| 10-Year ReturnCumulative with dividends | +216.3% | +37.2% |
| CAGR (3Y)Annualised 3-year return | +44.6% | -19.2% |
VIRT leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — VIRT and MKTX each lead in 1 of 2 comparable metrics.
Risk & Volatility
MKTX is the less volatile stock with a -0.28 beta — it tends to amplify market swings less than VIRT's 0.40 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VIRT currently trades 96.1% from its 52-week high vs MKTX's 63.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.40x | -0.28x |
| 52-Week HighHighest price in past year | $52.21 | $232.84 |
| 52-Week LowLowest price in past year | $31.55 | $148.47 |
| % of 52W HighCurrent price vs 52-week peak | +96.1% | +63.9% |
| RSI (14)Momentum oscillator 0–100 | 60.8 | 28.9 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 443K |
Evenly matched — VIRT and MKTX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — VIRT and MKTX each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates VIRT as "Hold" and MKTX as "Hold". Consensus price targets imply 31.4% upside for MKTX (target: $196) vs -4.4% for VIRT (target: $48). For income investors, VIRT offers the higher dividend yield at 2.05% vs MKTX's 2.01%.
| Metric | VIRTVirtu Financial, … | MKTXMarketAxess Holdi… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $48.00 | $195.60 |
| # AnalystsCovering analysts | 13 | 23 |
| Dividend YieldAnnual dividend ÷ price | +2.0% | +2.0% |
| Dividend StreakConsecutive years of raises | 0 | 11 |
| Dividend / ShareAnnual DPS | $1.03 | $2.99 |
| Buyback YieldShare repurchases ÷ mkt cap | +4.4% | +1.4% |
Evenly matched — VIRT and MKTX each lead in 1 of 2 comparable metrics.
Key Takeaway
MKTX leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). VIRT leads in 2 (Valuation Metrics, Total Returns). 2 tied.
Best OverallVirtu Financial, Inc. (VIRT)Leads 2 of 6 categories
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VIRT vs MKTX: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is VIRT or MKTX a better buy right now?
For growth investors, Virtu Financial, Inc.
(VIRT) is the stronger pick with 26. 2% revenue growth year-over-year, versus 8. 6% for MarketAxess Holdings Inc. (MKTX). Virtu Financial, Inc. (VIRT) offers the better valuation at 9. 8x trailing P/E (8. 4x forward), making it the more compelling value choice. Analysts rate Virtu Financial, Inc. (VIRT) a "Hold" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — VIRT or MKTX?
On trailing P/E, Virtu Financial, Inc.
(VIRT) is the cheapest at 9. 8x versus MarketAxess Holdings Inc. at 20. 4x. On forward P/E, Virtu Financial, Inc. is actually cheaper at 8. 4x.
03Which is the better long-term investment — VIRT or MKTX?
Over the past 5 years, Virtu Financial, Inc.
(VIRT) delivered a total return of +92. 7%, compared to -62. 8% for MarketAxess Holdings Inc. (MKTX). Over 10 years, the gap is even starker: VIRT returned +216. 3% versus MKTX's +37. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — VIRT or MKTX?
By beta (market sensitivity over 5 years), MarketAxess Holdings Inc.
(MKTX) is the lower-risk stock at -0. 28β versus Virtu Financial, Inc. 's 0. 40β — meaning VIRT is approximately -243% more volatile than MKTX relative to the S&P 500. On balance sheet safety, MarketAxess Holdings Inc. (MKTX) carries a lower debt/equity ratio of 5% versus 5% for Virtu Financial, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — VIRT or MKTX?
By revenue growth (latest reported year), Virtu Financial, Inc.
(VIRT) is pulling ahead at 26. 2% versus 8. 6% for MarketAxess Holdings Inc. (MKTX). On earnings-per-share growth, the picture is similar: Virtu Financial, Inc. grew EPS 72. 7% year-over-year, compared to 6. 3% for MarketAxess Holdings Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — VIRT or MKTX?
MarketAxess Holdings Inc.
(MKTX) is the more profitable company, earning 33. 6% net margin versus 12. 9% for Virtu Financial, Inc. — meaning it keeps 33. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MKTX leads at 41. 7% versus 33. 8% for VIRT. At the gross margin level — before operating expenses — MKTX leads at 68. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is VIRT or MKTX more undervalued right now?
On forward earnings alone, Virtu Financial, Inc.
(VIRT) trades at 8. 4x forward P/E versus 18. 2x for MarketAxess Holdings Inc. — 9. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MKTX: 31. 4% to $195. 60.
08Which pays a better dividend — VIRT or MKTX?
All stocks in this comparison pay dividends.
Virtu Financial, Inc. (VIRT) offers the highest yield at 2. 0%, versus 2. 0% for MarketAxess Holdings Inc. (MKTX).
09Is VIRT or MKTX better for a retirement portfolio?
For long-horizon retirement investors, MarketAxess Holdings Inc.
(MKTX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 28), 2. 0% yield). Both have compounded well over 10 years (MKTX: +37. 2%, VIRT: +216. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between VIRT and MKTX?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: VIRT is a small-cap high-growth stock; MKTX is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(VIRT: 26.2% · MKTX: 8.6%)Net Margin>
%
(VIRT: 12.9% · MKTX: 33.6%)P/E Ratio<
x
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