MarketAxess Holdings Inc.(MKTX)Earnings, Financials & Key Ratios

MKTX•NASDAQ•Banking & Credit

18.1× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryCapital Markets Sub-IndustryExchanges and Electronic Trading Venues

AboutMarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities. The company, through its Open Trading protocols, executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds. It also offers trading-related products and services, including composite+ pricing and other market data products to assist clients with trading decisions; auto-execution and other execution services for clients requiring specialized workflow solutions; connectivity solutions that facilitate straight-through processing; and technology services to optimize trading environments. In addition, the company provides various pre-and post-trade services, such as trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. MarketAxess Holdings Inc. was incorporated in 2000 and is headquartered in New York, New York.Show more

Net Interest Income$23M-6.3%
Total Revenue$849M+3.8%
Net Income$247M-10.0%
Return on Equity19.37%-5.3%
Net Interest Margin1.27%-7.3%
Efficiency Ratio28.67%-0.1%
ROA13.71%-4.9%
Equity / Assets64.04%-17.5%
Book Value per Share31.46-14.6%

MKTX Key Insights

MarketAxess Holdings Inc. (MKTX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.5%
✓Efficient operations: 28.7% efficiency ratio
✓17 consecutive years of dividend growth
✓Well capitalized: 64.0% equity/assets
✓Healthy dividend yield of 2.6%
✓Share count reduced 2.3% through buybacks

✗Weaknesses

✗Weak NIM of 1.3%
✗Weak momentum: RS Rating 13 (bottom 13%)
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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MKTX Price & Volume

MarketAxess Holdings Inc. (MKTX) stock price & volume — 10-year historical chart

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MKTX Growth Metrics

MarketAxess Holdings Inc. (MKTX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.85%

5 Years4.27%

3 Years5.72%

TTM-

Profit CAGR

10 Years9.89%

5 Years-3.8%

3 Years-0.48%

TTM42.84%

EPS CAGR

10 Years10.08%

5 Years-3.23%

3 Years0.05%

TTM47.13%

Return on Capital

10 Years31.32%

5 Years25.76%

3 Years24.11%

Last Year25.43%

MKTX Recent Earnings

MarketAxess Holdings Inc. (MKTX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 11/12 qtrs (92%)●Beat Revenue 5/12 qtrs (42%)

Q2 2026Latest

May 7, 2026

Metric

Actual

Est

EPS

$2.25+4.7%

$2.15

Rev

$233M+0.5%

$232M

Q1 2026

Feb 6, 2026

Metric

Actual

Est

EPS

$1.68+1.8%

$1.65

Rev

$209M-1.3%

$212M

Q4 2025

Nov 7, 2025

Metric

Actual

Est

EPS

$1.84+8.2%

$1.70

Rev

$209M+0.7%

$207M

Q3 2025

Aug 6, 2025

Metric

Actual

Est

EPS

$2.00+3.1%

$1.94

Rev

$224M+3.1%

$218M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 7, 2026	$2.25vs $2.15+4.7%	$233Mvs $232M+0.5%
Q1 2026	Feb 6, 2026	$1.68vs $1.65+1.8%	$209Mvs $212M-1.3%
Q4 2025	Nov 7, 2025	$1.84vs $1.70+8.2%	$209Mvs $207M+0.7%
Q3 2025	Aug 6, 2025	$2.00vs $1.94+3.1%	$224Mvs $218M+3.1%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
TWTradeweb Markets Inc.Direct Competitor	21.2B	99.49	26.32	18.92%	40.25%	12.35%	0.04
ICEIntercontinental Exchange, Inc.Direct Competitor	75.83B	133.88	23.20	7.46%	26.14%	11.57%	0.70
CMECME Group Inc.Direct Competitor	89.39B	246.38	22.08	6.37%	62.77%	15.25%	0.13
CBOECboe Global Markets, Inc.Direct Competitor	26.09B	249.10	23.91	15.13%	23.33%	22.99%	0.33
NDAQNasdaq, Inc.Direct Competitor	46.75B	82.24	26.61	11.05%	23.15%	15.9%	0.81
BGCBGC Group, IncProduct Competitor	5.73B	12.05	38.87	36.33%	5.63%	15.76%	1.57
VIRTVirtu Financial, Inc.Product Competitor	5.38B	63.07	12.29	26.25%	14.17%	29.37%	4.55
LPLALPL Financial Holdings Inc.Product Competitor	23.57B	293.95	26.92	37.18%	5.08%	18.57%	1.36

Compare MKTX vs Peers

MarketAxess Holdings Inc. (MKTX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TW

Most directly comparable listed peer for MKTX.

Scale Benchmark

vs JPM

Larger-name benchmark to compare MKTX against a more recognizable public peer.

Peer Set

Compare Top 5

vs TW, ICE, CME, CBOE

MKTX Income Statement

MarketAxess Holdings Inc. (MKTX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Net Interest Income	3.62M	6.11M	8.06M	1.3M	-441K	4.34M	20.44M	24.45M	22.91M	17.37M
NII Growth %	69.35%	68.89%	31.92%	-83.83%	-133.82%	1084.13%	371.01%	19.58%	-6.28%	-123.39%
Net Interest Margin %	0.62%	0.88%	0.84%	0.1%	-0.03%	0.27%	1.01%	1.37%	1.27%	0.75%
Interest Income	3.62M	6.11M	8.06M	2.45M	401K	5.04M	22.43M	26.05M	24.4M	21.54M
Interest Expense	0	0	0	1.14M	842K	700K	1.98M	1.6M	1.49M	4.16M
Loan Loss Provision	64.39M	77.78M	97.61M	132.84M	171.4M	198.53M	224.79M	242.72M	254.31M	254.37M
Non-Interest Income	393.85M	429.45M	503.29M	686.68M	700.63M	713.66M	728.47M	791.88M	824.8M	854.11M
Non-Interest Income %	99.09%	98.6%	98.42%	99.65%	99.94%	99.3%	97.01%	96.82%	97.13%	97.54%
Total Revenue	397.47M▲ 0%	435.56M▲ 9.6%	511.35M▲ 17.4%	689.13M▲ 34.8%	701.03M▲ 1.7%	718.71M▲ 2.5%	750.9M▲ 4.5%	817.92M▲ 8.9%	849.2M▲ 3.8%	875.65M▲ 0%
Revenue Growth %	7.45%	9.58%	17.4%	34.77%	1.73%	2.52%	4.48%	8.93%	3.82%	30.55%
Non-Interest Expense	131.31M	145.2M	162.85M	180.41M	191.53M	192.67M	205.44M	234.73M	243.44M	257.4M
Efficiency Ratio	33.04%	33.34%	31.85%	26.18%	27.32%	26.81%	27.36%	28.7%	28.67%	29.4%
Operating Income	201.77M▲ 0%	212.58M▲ 5.4%	250.88M▲ 18.0%	374.73M▲ 49.4%	337.26M▼ 10.0%	326.81M▼ 3.1%	318.69M▼ 2.5%	338.88M▲ 6.3%	349.96M▲ 3.3%	359.71M▲ 0%
Operating Margin %	50.76%	48.81%	49.06%	54.38%	48.11%	45.47%	42.44%	41.43%	41.21%	41.08%
Operating Income Growth %	5.31%	5.36%	18.02%	49.36%	-10%	-3.1%	-2.49%	6.33%	3.27%	-
Pretax Income	201.77M▲ 0%	218.09M▲ 8.1%	257.42M▲ 18.0%	374.36M▲ 45.4%	333.92M▼ 10.8%	338.29M▲ 1.3%	332.7M▼ 1.7%	360.55M▲ 8.4%	367M▲ 1.8%	374.73M▲ 0%
Pretax Margin %	50.76%	50.07%	50.34%	54.32%	47.63%	47.07%	44.31%	44.08%	43.22%	42.79%
Income Tax	53.68M	45.23M	52.52M	74.98M	76.03M	88.06M	74.64M	86.36M	120.08M	64.77M
Effective Tax Rate %	26.6%	20.74%	20.4%	20.03%	22.77%	26.03%	22.44%	23.95%	32.72%	17.29%
Net Income	148.09M▲ 0%	172.85M▲ 16.7%	204.9M▲ 18.5%	299.38M▲ 46.1%	257.89M▼ 13.9%	250.22M▼ 3.0%	258.06M▲ 3.1%	274.18M▲ 6.2%	246.63M▼ 10.0%	309.44M▲ 0%
Net Margin %	37.26%	39.68%	40.07%	43.44%	36.79%	34.82%	34.37%	33.52%	29.04%	35.34%
Net Income Growth %	17.37%	16.72%	18.54%	46.11%	-13.86%	-2.97%	3.13%	6.25%	-10.05%	42.84%
Net Income (Continuing)	148.09M	172.85M	204.9M	299.38M	257.89M	250.22M	258.06M	274.18M	246.91M	309.95M
EPS (Diluted)	3.89▲ 0%	4.57▲ 17.5%	5.40▲ 18.2%	7.85▲ 45.4%	6.77▼ 13.8%	6.65▼ 1.8%	6.85▲ 3.0%	7.28▲ 6.3%	6.66▼ 8.5%	8.74▲ 0%
EPS Growth %	16.47%	17.48%	18.16%	45.37%	-13.76%	-1.77%	3.01%	6.28%	-8.52%	47.13%
EPS (Basic)	4.02	4.68	5.53	8.01	6.88	6.68	6.87	7.29	6.66	-
Diluted Shares Outstanding	38.04M	37.85M	37.96M	38.14M	38.1M	37.64M	37.65M	37.67M	36.81M	35.39M

MKTX Balance Sheet

MarketAxess Holdings Inc. (MKTX) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash & Short Term Investments	167.01M	246.32M	390.97M	479.15M	517.93M	464.75M	522.25M	649.25M	568.46M	1.94B
Cash & Due from Banks	167.01M	246.32M	270.12M	460.86M	506.74M	430.75M	451.28M	544.48M	519.73M	426.36M
Short Term Investments	0	0	120.85M	18.29M	11.2M	34M	70.97M	104.78M	48.72M	14.01M
Total Investments	239.52M	240.1M	230.48M	28.11M	36.08M	83.79M	134.86M	165.26M	219.4M	172.54M
Investments Growth %	23.21%	0.24%	-4.01%	-87.8%	28.34%	132.25%	60.95%	22.54%	32.76%	61.99%
Long-Term Investments	239.52M	240.1M	109.63M	9.82M	24.88M	49.79M	63.89M	60.48M	170.68M	667.02M
Accounts Receivables	52.64M	57.53M	62.02M	79.58M	63.88M	78.45M	89.84M	91.84M	100.99M	1.11B
Goodwill & Intangibles	63.06M	62.67M	207.85M	242.74M	271.17M	252.85M	355.81M	334.78M	394.3M	388.95M
Goodwill	59.71M	59.71M	146.86M	147.39M	154.79M	154.79M	236.71M	236.71M	283.67M	283.67M
Intangible Assets	3.35M	2.96M	60.99M	95.35M	116.38M	98.06M	119.11M	98.08M	110.63M	105.28M
PP&E (Net)	38.55M	63.01M	153.19M	161.13M	167.02M	166.36M	165.72M	165.43M	112.43M	162.63M
Other Assets	18.72M	22.47M	30.77M	29.04M	27.07M	68.29M	84.5M	82.58M	51.85M	45.85M
Total Current Assets	219.65M	303.86M	452.99M	888.7M	1.04B	1.07B	1.35B	1.15B	1.08B	1.55B
Total Non-Current Assets	361.58M	391.68M	501.94M	442.73M	490.14M	537.3M	669.92M	643.28M	729.26M	755.95M
Total Assets	581.23M▲ 0%	695.54M▲ 19.7%	954.93M▲ 37.3%	1.33B▲ 39.4%	1.53B▲ 14.9%	1.61B▲ 5.1%	2.02B▲ 25.3%	1.79B▼ 11.2%	1.81B▲ 1.1%	2.3B▲ 0%
Asset Growth %	10.07%	19.67%	37.29%	39.43%	14.95%	5.05%	25.33%	-11.21%	1.08%	38.17%
Return on Assets (ROA)	26.7%	27.08%	24.83%	26.19%	18.02%	15.95%	14.25%	14.41%	13.71%	15.28%
Accounts Payable	14.24M	29.37M	22.79M	44.35M	71.22M	55.26M	37.01M	37.32M	199.68M	0
Total Debt	17.52M	22.47M	97.99M	93.61M	88.42M	82.68M	79.68M	72.65M	284.94M	291.96M
Net Debt	-149.5M	-223.85M	-172.13M	-367.25M	-418.31M	-348.07M	-371.6M	-471.82M	-234.8M	-134.39M
Long-Term Debt	0	0	0	0	0	0	0	0	0	228.25M
Short-Term Debt	0	0	0	0	0	0	0	0	220M	63.71M
Other Liabilities	48.08M	65.61M	43.87M	62.33M	59.72M	56.3M	60.12M	68.05M	0	800.39M
Total Current Liabilities	29.96M	48.61M	39.48M	220.43M	341M	387.7M	582.3M	259.85M	585.41M	63.71M
Total Non-Current Liabilities	36.5M	39.05M	145.36M	155.94M	148.14M	138.98M	139.8M	140.71M	64.94M	1.03B
Total Liabilities	66.46M	87.66M	184.84M	376.37M	489.14M	526.68M	722.1M	400.56M	650.35M	1.1B
Total Equity	346.55M▲ 0%	361.56M▲ 4.3%	770.09M▲ 113.0%	955.06M▲ 24.0%	1.04B▲ 9.0%	1.08B▲ 3.8%	1.29B▲ 19.6%	1.39B▲ 7.4%	1.16B▼ 16.6%	1.2B▲ 0%
Equity Growth %	16.03%	4.33%	112.99%	24.02%	9.03%	3.82%	19.6%	7.4%	-16.59%	-21.56%
Equity / Assets (Capital Ratio)	59.62%	51.98%	80.64%	71.73%	68.04%	67.24%	64.16%	77.61%	64.04%	52.31%
Return on Equity (ROE)	45.9%	48.82%	36.21%	34.71%	25.84%	23.58%	21.74%	20.45%	19.37%	24.02%
Book Value per Share	9.11	9.55	20.29	25.04	27.33	28.72	34.34	36.86	31.46	34.02
Tangible BV per Share	7.45	7.90	14.81	18.67	20.22	22.00	24.89	27.98	20.75	23.03
Common Stock	121K	122K	122K	123K	123K	123K	123K	123K	123K	124K
Additional Paid-in Capital	331.08M	341.86M	342.54M	329.74M	330.26M	345.47M	333.29M	350.7M	305.92M	365.43M
Retained Earnings	353.58M	463.25M	591.09M	799.37M	956.97M	1.1B	1.24B	1.41B	1.54B	1.59B
Accumulated OCI	-10.23M	-12.39M	-10.27M	-4.65M	-13.33M	-37.7M	-24.37M	-34.7M	-4.36M	-11.67M
Treasury Stock	-159.79M	-184.96M	-153.39M	-169.52M	-232.71M	-328.33M	-260.3M	-333.37M	-694.76M	-752.33M
Preferred Stock	226K	394K	0	0	0	0	0	0	0	0

MKTX Cash Flow Statement

MarketAxess Holdings Inc. (MKTX) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	168.03M	223.92M	265.94M	404.49M	282.09M	289.23M	333.77M	385.24M	382.29M	277.42M
Operating CF Growth %	109.29%	33.26%	18.77%	52.1%	-30.26%	2.53%	15.4%	15.42%	-0.76%	-382.02%
Net Income	148.09M	172.85M	204.9M	299.38M	257.89M	250.22M	258.06M	274.18M	246.91M	309.44M
Depreciation & Amortization	19.27M	23.08M	32.65M	42.84M	60.25M	67.15M	76.41M	80.46M	84.22M	85.37M
Deferred Taxes	6.59M	-1.26M	2.68M	10.1M	3.12M	-6.55M	-5.82M	-3.88M	22.02M	22.35M
Other Non-Cash Items	1.95M	2.34M	-786K	-550K	-466K	-8.23M	1.6M	8.32M	1.96M	7.99M
Working Capital Changes	-22.29M	11.05M	1.19M	27.11M	-66.01M	-43.24M	-25.68M	-3.53M	-3.89M	-181.22M
Cash from Investing	-53.65M	-50.3M	-122.05M	68.87M	-67.69M	-86.27M	-155.29M	-86.94M	-96.72M	-99.03M
Purchase of Investments	-215.83M	-336.53M	-160.83M	-32.87M	-7.88M	-83.93M	-28.82M	0	-12.97M	-13.7M
Sale/Maturity of Investments	187.79M	333.79M	170.94M	170.66M	58.08M	157.06M	4.45M	0	10.78M	9.58M
Net Investment Activity	-28.04M	-2.74M	10.11M	137.79M	50.2M	73.13M	-24.37M	0	-2.19M	-4.12M
Acquisitions	-13.47M	11.71M	-97.43M	-23.3M	-17.08M	-34.4M	-78.48M	0	-36.52M	0
Other Investing	13.41M	-11.67M	-30K	-30.62M	-50.2M	-73.13M	-43.12M	-76.99M	0	-76.61M
Cash from Financing	-117.07M	-92.67M	-118.1M	-145.11M	-189.78M	-242.38M	-147.06M	-201.38M	-332.37M	-283.97M
Dividends Paid	-48.89M	-62.43M	-76.23M	-90.57M	-99.79M	-105.94M	-109.66M	-112.7M	-115.2M	-114.13M
Share Repurchases	-42.46M	-25.17M	-17.26M	-16.14M	-63.19M	-87.54M	-25.84M	-75.47M	-420.01M	-381.94M
Stock Issued	0	0	0	0	0	0	0	0	-17.16M	-17.16M
Net Stock Activity	-42.46M	-25.17M	-17.26M	-16.14M	-63.19M	-87.54M	-25.84M	-75.47M	-437.17M	-399.09M
Debt Issuance (Net)	0	0	0	0	0	0	0	0	1000K	2M
Other Financing	-27.69M	0	-25.82M	-38.41M	-26.79M	-26.16M	-12.5M	-13.21M	0	1.01M
Net Change in Cash	-1.23M▲ 0%	79.31M▲ 6553.1%	26.8M▼ 66.2%	333.8M▲ 1145.7%	17.52M▼ 94.8%	-52.9M▼ 402.0%	39.01M▲ 173.7%	88.79M▲ 127.6%	-23.13M▼ 126.0%	-82.49M▲ 0%
Exchange Rate Effect	1.46M	-1.64M	1.01M	5.55M	-7.11M	-13.48M	7.59M	-8.14M	23.67M	23.1M
Cash at Beginning	168.24M	168.15M	247.46M	274.25M	608.05M	625.57M	572.66M	611.67M	591.59M	675.85M
Cash at End	167.01M	247.46M	274.25M	608.05M	625.57M	572.66M	611.67M	700.46M	568.46M	548.24M
Interest Paid	0	0	0	1.14M	830K	652K	1.87M	1.72M	721K	523K
Income Taxes Paid	44M	47.21M	51.77M	45.05M	70M	88.68M	94.81M	96.93M	62.83M	52.98M
Free Cash Flow	142.48M▲ 0%	176.32M▲ 23.8%	231.24M▲ 31.1%	358.86M▲ 55.2%	231.47M▼ 35.5%	237.36M▲ 2.5%	281.32M▲ 18.5%	375.3M▲ 33.4%	373.94M▼ 0.4%	236.13M▲ 0%
FCF Growth %	130.6%	23.76%	31.14%	55.19%	-35.5%	2.54%	18.52%	33.41%	-0.36%	-34.67%

MKTX Banking Ratios

MarketAxess Holdings Inc. (MKTX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	45.9%	48.82%	36.21%	34.71%	25.84%	23.58%	21.74%	20.45%	19.37%	24.02%
Return on Assets (ROA)	26.7%	27.08%	24.83%	26.19%	18.02%	15.95%	14.25%	14.41%	13.71%	15.28%
Net Interest Margin	0.62%	0.88%	0.84%	0.1%	-0.03%	0.27%	1.01%	1.37%	1.27%	0.75%
Efficiency Ratio	33.04%	33.34%	31.85%	26.18%	27.32%	26.81%	27.36%	28.7%	28.67%	29.4%
Equity / Assets	59.62%	51.98%	80.64%	71.73%	68.04%	67.24%	64.16%	77.61%	64.04%	52.31%
Book Value / Share	9.11	9.55	20.29	25.04	27.33	28.72	34.34	36.86	31.46	34.02
NII Growth	69.35%	68.89%	31.92%	-83.83%	-133.82%	1084.13%	371.01%	19.58%	-6.28%	-32.51%
Dividend Payout	33.01%	36.12%	37.2%	30.25%	38.7%	42.34%	42.49%	41.1%	46.71%	36.88%

MKTX SEC Filings & Documents

MarketAxess Holdings Inc. (MKTX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 7, 2026·SEC

Material company update

Feb 17, 2026·SEC

Material company update

Feb 6, 2026·SEC

10-K Annual Reports

FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 24, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 7, 2026·SEC

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 6, 2025·SEC

MKTX Frequently Asked Questions

MarketAxess Holdings Inc. (MKTX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MarketAxess Holdings Inc. (MKTX) grew revenue by 3.8% over the past year. Growth has been modest.

Yes, MarketAxess Holdings Inc. (MKTX) is profitable, generating $309.4M in net income for fiscal year 2025 (29.0% net margin).

Dividend & Returns

Yes, MarketAxess Holdings Inc. (MKTX) pays a dividend with a yield of 2.60%. This makes it attractive for income-focused investors.

MarketAxess Holdings Inc. (MKTX) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.

Industry Metrics

MarketAxess Holdings Inc. (MKTX) has a net interest margin (NIM) of 1.3%. NIM has been under pressure due to interest rate environment.

MarketAxess Holdings Inc. (MKTX) has an efficiency ratio of 28.7%. This is excellent, indicating strong cost control.

What if you invested $1,000 in MKTX back in 2002?

Total return calculator · dividends reinvested · 24+ years of data

See returns →

How much would $100/month in MKTX be worth today?

Dollar cost averaging calculator · DCA vs lump sum

Calculate →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 7, 2026

$2.25vs $2.15+4.7%

$233Mvs $232M+0.5%

Q1 2026

Feb 6, 2026

$1.68vs $1.65+1.8%

$209Mvs $212M-1.3%

Q4 2025

Nov 7, 2025

$1.84vs $1.70+8.2%

$209Mvs $207M+0.7%

Q3 2025

Aug 6, 2025

$2.00vs $1.94+3.1%

$224Mvs $218M+3.1%

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Net Interest Income

3.62M

6.11M

8.06M

1.3M

-441K

4.34M

20.44M

24.45M

22.91M

17.37M

NII Growth %

69.35%

68.89%

31.92%

-83.83%

-133.82%

1084.13%

371.01%

19.58%

-6.28%

-123.39%

Net Interest Margin %

0.62%

0.88%

0.84%

0.1%

-0.03%

0.27%

1.01%

1.37%

1.27%

0.75%

Interest Income

3.62M

6.11M

8.06M

2.45M

401K

5.04M

22.43M

26.05M

24.4M

21.54M

Interest Expense

1.14M

842K

700K

1.98M

1.6M

1.49M

4.16M

Loan Loss Provision

64.39M

77.78M

97.61M

132.84M

171.4M

198.53M

224.79M

242.72M

254.31M

254.37M

Non-Interest Income

393.85M

429.45M

503.29M

686.68M

700.63M

713.66M

728.47M

791.88M

824.8M

854.11M

Non-Interest Income %

99.09%

98.6%

98.42%

99.65%

99.94%

99.3%

97.01%

96.82%

97.13%

97.54%

Total Revenue

397.47M▲ 0%

435.56M▲ 9.6%

511.35M▲ 17.4%

689.13M▲ 34.8%

701.03M▲ 1.7%

718.71M▲ 2.5%

750.9M▲ 4.5%

817.92M▲ 8.9%

849.2M▲ 3.8%

875.65M▲ 0%

Revenue Growth %

7.45%

9.58%

17.4%

34.77%

1.73%

2.52%

4.48%

8.93%

3.82%

30.55%

Non-Interest Expense

131.31M

145.2M

162.85M

180.41M

191.53M

192.67M

205.44M

234.73M

243.44M

257.4M

Efficiency Ratio

33.04%

33.34%

31.85%

26.18%

27.32%

26.81%

27.36%

28.7%

28.67%

29.4%

Operating Income

201.77M▲ 0%

212.58M▲ 5.4%

250.88M▲ 18.0%

374.73M▲ 49.4%

337.26M▼ 10.0%

326.81M▼ 3.1%

318.69M▼ 2.5%

338.88M▲ 6.3%

349.96M▲ 3.3%

359.71M▲ 0%

Operating Margin %

50.76%

48.81%

49.06%

54.38%

48.11%

45.47%

42.44%

41.43%

41.21%

41.08%

Operating Income Growth %

5.31%

5.36%

18.02%

49.36%

-10%

-3.1%

-2.49%

6.33%

3.27%

Pretax Income

201.77M▲ 0%

218.09M▲ 8.1%

257.42M▲ 18.0%

374.36M▲ 45.4%

333.92M▼ 10.8%

338.29M▲ 1.3%

332.7M▼ 1.7%

360.55M▲ 8.4%

367M▲ 1.8%

374.73M▲ 0%

Pretax Margin %

50.76%

50.07%

50.34%

54.32%

47.63%

47.07%

44.31%

44.08%

43.22%

42.79%

Income Tax

53.68M

45.23M

52.52M

74.98M

76.03M

88.06M

74.64M

86.36M

120.08M

64.77M

Effective Tax Rate %

26.6%

20.74%

20.4%

20.03%

22.77%

26.03%

22.44%

23.95%

32.72%

17.29%

Net Income

148.09M▲ 0%

172.85M▲ 16.7%

204.9M▲ 18.5%

299.38M▲ 46.1%

257.89M▼ 13.9%

250.22M▼ 3.0%

258.06M▲ 3.1%

274.18M▲ 6.2%

246.63M▼ 10.0%

309.44M▲ 0%

Net Margin %

37.26%

39.68%

40.07%

43.44%

36.79%

34.82%

34.37%

33.52%

29.04%

35.34%

Net Income Growth %

17.37%

16.72%

18.54%

46.11%

-13.86%

-2.97%

3.13%

6.25%

-10.05%

42.84%

Net Income (Continuing)

148.09M

172.85M

204.9M

299.38M

257.89M

250.22M

258.06M

274.18M

246.91M

309.95M

EPS (Diluted)

3.89▲ 0%

4.57▲ 17.5%

5.40▲ 18.2%

7.85▲ 45.4%

6.77▼ 13.8%

6.65▼ 1.8%

6.85▲ 3.0%

7.28▲ 6.3%

6.66▼ 8.5%

8.74▲ 0%

EPS Growth %

16.47%

17.48%

18.16%

45.37%

-13.76%

-1.77%

3.01%

6.28%

-8.52%

47.13%

EPS (Basic)

4.02

4.68

5.53

8.01

6.88

6.68

6.87

7.29

6.66

Diluted Shares Outstanding

38.04M

37.85M

37.96M

38.14M

38.1M

37.64M

37.65M

37.67M

36.81M

35.39M

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Cash & Short Term Investments

167.01M

246.32M

390.97M

479.15M

517.93M

464.75M

522.25M

649.25M

568.46M

1.94B

Cash & Due from Banks

167.01M

246.32M

270.12M

460.86M

506.74M

430.75M

451.28M

544.48M

519.73M

426.36M

Short Term Investments

120.85M

18.29M

11.2M

34M

70.97M

104.78M

48.72M

14.01M

Total Investments

239.52M

240.1M

230.48M

28.11M

36.08M

83.79M

134.86M

165.26M

219.4M

172.54M

Investments Growth %

23.21%

0.24%

-4.01%

-87.8%

28.34%

132.25%

60.95%

22.54%

32.76%

61.99%

Long-Term Investments

239.52M

240.1M

109.63M

9.82M

24.88M

49.79M

63.89M

60.48M

170.68M

667.02M

Accounts Receivables

52.64M

57.53M

62.02M

79.58M

63.88M

78.45M

89.84M

91.84M

100.99M

1.11B

Goodwill & Intangibles

63.06M

62.67M

207.85M

242.74M

271.17M

252.85M

355.81M

334.78M

394.3M

388.95M

Goodwill

59.71M

146.86M

147.39M

154.79M

236.71M

283.67M

Intangible Assets

3.35M

2.96M

60.99M

95.35M

116.38M

98.06M

119.11M

98.08M

110.63M

105.28M

PP&E (Net)

38.55M

63.01M

153.19M

161.13M

167.02M

166.36M

165.72M

165.43M

112.43M

162.63M

Other Assets

18.72M

22.47M

30.77M

29.04M

27.07M

68.29M

84.5M

82.58M

51.85M

45.85M

Total Current Assets

219.65M

303.86M

452.99M

888.7M

1.04B

1.07B

1.35B

1.15B

1.08B

1.55B

Total Non-Current Assets

361.58M

391.68M

501.94M

442.73M

490.14M

537.3M

669.92M

643.28M

729.26M

755.95M

Total Assets

581.23M▲ 0%

695.54M▲ 19.7%

954.93M▲ 37.3%

1.33B▲ 39.4%

1.53B▲ 14.9%

1.61B▲ 5.1%

2.02B▲ 25.3%

1.79B▼ 11.2%

1.81B▲ 1.1%

2.3B▲ 0%

Asset Growth %

10.07%

19.67%

37.29%

39.43%

14.95%

5.05%

25.33%

-11.21%

1.08%

38.17%

Return on Assets (ROA)

26.7%

27.08%

24.83%

26.19%

18.02%

15.95%

14.25%

14.41%

13.71%

15.28%

Accounts Payable

14.24M

29.37M

22.79M

44.35M

71.22M

55.26M

37.01M

37.32M

199.68M

Total Debt

17.52M

22.47M

97.99M

93.61M

88.42M

82.68M

79.68M

72.65M

284.94M

291.96M

Net Debt

-149.5M

-223.85M

-172.13M

-367.25M

-418.31M

-348.07M

-371.6M

-471.82M

-234.8M

-134.39M

Long-Term Debt

228.25M

Short-Term Debt

220M

63.71M

Other Liabilities

48.08M

65.61M

43.87M

62.33M

59.72M

56.3M

60.12M

68.05M

800.39M

Total Current Liabilities

29.96M

48.61M

39.48M

220.43M

341M

387.7M

582.3M

259.85M

585.41M

63.71M

Total Non-Current Liabilities

36.5M

39.05M

145.36M

155.94M

148.14M

138.98M

139.8M

140.71M

64.94M

1.03B

Total Liabilities

66.46M

87.66M

184.84M

376.37M

489.14M

526.68M

722.1M

400.56M

650.35M

1.1B

Total Equity

346.55M▲ 0%

361.56M▲ 4.3%

770.09M▲ 113.0%

955.06M▲ 24.0%

1.04B▲ 9.0%

1.08B▲ 3.8%

1.29B▲ 19.6%

1.39B▲ 7.4%

1.16B▼ 16.6%

1.2B▲ 0%

Equity Growth %

16.03%

4.33%

112.99%

24.02%

9.03%

3.82%

19.6%

7.4%

-16.59%

-21.56%

Equity / Assets (Capital Ratio)

59.62%

51.98%

80.64%

71.73%

68.04%

67.24%

64.16%

77.61%

64.04%

52.31%

Return on Equity (ROE)

45.9%

48.82%

36.21%

34.71%

25.84%

23.58%

21.74%

20.45%

19.37%

24.02%

Book Value per Share

9.11

9.55

20.29

25.04

27.33

28.72

34.34

36.86

31.46

34.02

Tangible BV per Share

7.45

7.90

14.81

18.67

20.22

22.00

24.89

27.98

20.75

23.03

Common Stock

121K

122K

123K

124K

Additional Paid-in Capital

331.08M

341.86M

342.54M

329.74M

330.26M

345.47M

333.29M

350.7M

305.92M

365.43M

Retained Earnings

353.58M

463.25M

591.09M

799.37M

956.97M

1.1B

1.24B

1.41B

1.54B

1.59B

Accumulated OCI

-10.23M

-12.39M

-10.27M

-4.65M

-13.33M

-37.7M

-24.37M

-34.7M

-4.36M

-11.67M

Treasury Stock

-159.79M

-184.96M

-153.39M

-169.52M

-232.71M

-328.33M

-260.3M

-333.37M

-694.76M

-752.33M

Preferred Stock

226K

394K

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Cash from Operations

168.03M

223.92M

265.94M

404.49M

282.09M

289.23M

333.77M

385.24M

382.29M

277.42M

Operating CF Growth %

109.29%

33.26%

18.77%

52.1%

-30.26%

2.53%

15.4%

15.42%

-0.76%

-382.02%

Net Income

148.09M

172.85M

204.9M

299.38M

257.89M

250.22M

258.06M

274.18M

246.91M

309.44M

Depreciation & Amortization

19.27M

23.08M

32.65M

42.84M

60.25M

67.15M

76.41M

80.46M

84.22M

85.37M

Deferred Taxes

6.59M

-1.26M

2.68M

10.1M

3.12M

-6.55M

-5.82M

-3.88M

22.02M

22.35M

Other Non-Cash Items

1.95M

2.34M

-786K

-550K

-466K

-8.23M

1.6M

8.32M

1.96M

7.99M

Working Capital Changes

-22.29M

11.05M

1.19M

27.11M

-66.01M

-43.24M

-25.68M

-3.53M

-3.89M

-181.22M

Cash from Investing

-53.65M

-50.3M

-122.05M

68.87M

-67.69M

-86.27M

-155.29M

-86.94M

-96.72M

-99.03M

Purchase of Investments

-215.83M

-336.53M

-160.83M

-32.87M

-7.88M

-83.93M

-28.82M

-12.97M

-13.7M

Sale/Maturity of Investments

187.79M

333.79M

170.94M

170.66M

58.08M

157.06M

4.45M

10.78M

9.58M

Net Investment Activity

-28.04M

-2.74M

10.11M

137.79M

50.2M

73.13M

-24.37M

-2.19M

-4.12M

Acquisitions

-13.47M

11.71M

-97.43M

-23.3M

-17.08M

-34.4M

-78.48M

-36.52M

Other Investing

13.41M

-11.67M

-30K

-30.62M

-50.2M

-73.13M

-43.12M

-76.99M

-76.61M

Cash from Financing

-117.07M

-92.67M

-118.1M

-145.11M

-189.78M

-242.38M

-147.06M

-201.38M

-332.37M

-283.97M

Dividends Paid

-48.89M

-62.43M

-76.23M

-90.57M

-99.79M

-105.94M

-109.66M

-112.7M

-115.2M

-114.13M

Share Repurchases

-42.46M

-25.17M

-17.26M

-16.14M

-63.19M

-87.54M

-25.84M

-75.47M

-420.01M

-381.94M

Stock Issued

-17.16M

Net Stock Activity

-42.46M

-25.17M

-17.26M

-16.14M

-63.19M

-87.54M

-25.84M

-75.47M

-437.17M

-399.09M

Debt Issuance (Net)

1000K

Other Financing

-27.69M

-25.82M

-38.41M

-26.79M

-26.16M

-12.5M

-13.21M

1.01M

Net Change in Cash

-1.23M▲ 0%

79.31M▲ 6553.1%

26.8M▼ 66.2%

333.8M▲ 1145.7%

17.52M▼ 94.8%

-52.9M▼ 402.0%

39.01M▲ 173.7%

88.79M▲ 127.6%

-23.13M▼ 126.0%

-82.49M▲ 0%

Exchange Rate Effect

1.46M

-1.64M

1.01M

5.55M

-7.11M

-13.48M

7.59M

-8.14M

23.67M

23.1M

Cash at Beginning

168.24M

168.15M

247.46M

274.25M

608.05M

625.57M

572.66M

611.67M

591.59M

675.85M

Cash at End

167.01M

247.46M

274.25M

608.05M

625.57M

572.66M

611.67M

700.46M

568.46M

548.24M

Interest Paid

1.14M

830K

652K

1.87M

1.72M

721K

523K

Income Taxes Paid

44M

47.21M

51.77M

45.05M

70M

88.68M

94.81M

96.93M

62.83M

52.98M

Free Cash Flow

142.48M▲ 0%

176.32M▲ 23.8%

231.24M▲ 31.1%

358.86M▲ 55.2%

231.47M▼ 35.5%

237.36M▲ 2.5%

281.32M▲ 18.5%

375.3M▲ 33.4%

373.94M▼ 0.4%

236.13M▲ 0%

FCF Growth %

130.6%

23.76%

31.14%

55.19%

-35.5%

2.54%

18.52%

33.41%

-0.36%

-34.67%

Metric

2017

2018

2019

2020

2021

2022

2023

2024

2025

TTM

Return on Equity (ROE)

45.9%

48.82%

36.21%

34.71%

25.84%

23.58%

21.74%

20.45%

19.37%

24.02%

Return on Assets (ROA)

26.7%

27.08%

24.83%

26.19%

18.02%

15.95%

14.25%

14.41%

13.71%

15.28%

Net Interest Margin

0.62%

0.88%

0.84%

0.1%

-0.03%

0.27%

1.01%

1.37%

1.27%

0.75%

Efficiency Ratio

33.04%

33.34%

31.85%

26.18%

27.32%

26.81%

27.36%

28.7%

28.67%

29.4%

Equity / Assets

59.62%

51.98%

80.64%

71.73%

68.04%

67.24%

64.16%

77.61%

64.04%

52.31%

Book Value / Share

9.11

9.55

20.29

25.04

27.33

28.72

34.34

36.86

31.46

34.02

NII Growth

69.35%

68.89%

31.92%

-83.83%

-133.82%

1084.13%

371.01%

19.58%

-6.28%

-32.51%

Dividend Payout

33.01%

36.12%

37.2%

30.25%

38.7%

42.34%

42.49%

41.1%

46.71%

36.88%

MarketAxess Holdings Inc.(MKTX)Earnings, Financials & Key Ratios

MKTX Key Insights

✓Strengths

✗Weaknesses

MKTX Price & Volume

MKTX Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

MKTX Recent Earnings

MKTX Peer Comparison

Compare MKTX vs Peers

vs TW

vs JPM

Compare Top 5

MKTX Income Statement

MKTX Balance Sheet

MKTX Cash Flow Statement

MKTX Banking Ratios

MKTX SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

MKTX Frequently Asked Questions

MarketAxess Holdings Inc.(MKTX)Earnings, Financials & Key Ratios

MKTX Key Insights

✓Strengths

✗Weaknesses

MKTX Price & Volume

MKTX Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

MKTX Recent Earnings

MKTX Peer Comparison

Compare MKTX vs Peers

vs TW

vs JPM

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MKTX Income Statement

MKTX Balance Sheet

MKTX Cash Flow Statement

MKTX Banking Ratios

MKTX SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

MKTX Frequently Asked Questions