Last 47 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 24.73 | 14.70 | 18.75 | 18.05 | 23.68 | 29.23 | 135.22 | 32.66 | 33.71 | 29.15 | 28.55 | 39.79 | 36.58 | 40.85 | 49.91 | 44.13 | 35.20 | 35.96 | 49.74 | 75.05 | 69.19 |
| — | -49.7% | -86.1% | -44.7% | -29.8% | +0.3% | +373.7% | -17.9% | -7.8% | -28.6% | -42.8% | -9.8% | +3.9% | +13.6% | +0.3% | -41.2% | -49.1% | -45.1% | -15.7% | +0.5% | +2.3% | |
| P/S Ratio | 6.84 | 4.62 | 6.33 | 8.08 | 7.68 | 9.29 | 9.80 | 10.55 | 11.60 | 9.61 | 9.80 | 14.35 | 11.61 | 13.66 | 18.14 | 14.73 | 12.15 | 13.23 | 17.37 | 23.65 | 24.68 |
| — | -50.3% | -35.4% | -23.4% | -33.8% | -3.3% | -0.0% | -26.5% | -0.1% | -29.7% | -46.0% | -2.6% | -4.4% | +3.3% | +4.4% | -37.7% | -50.8% | -47.1% | -28.6% | -25.7% | -12.5% | |
| P/B Ratio | 5.23 | 3.19 | 4.85 | 5.76 | 4.65 | 5.95 | 6.01 | 6.12 | 6.95 | 5.69 | 6.29 | 8.56 | 6.74 | 8.43 | 13.13 | 9.69 | 8.20 | 9.62 | 12.57 | 15.03 | 15.18 |
| — | -46.3% | -19.4% | -5.9% | -33.1% | +4.6% | -4.3% | -28.5% | +3.1% | -32.6% | -52.1% | -11.6% | -17.8% | -12.3% | +4.5% | -35.5% | -46.0% | -44.3% | -34.6% | -34.1% | -25.9% | |
| P/FCF | 15.50 | 67.55 | — | 11.62 | 20.95 | 22.89 | 159.92 | 12.86 | 29.05 | 18.77 | — | 21.58 | 31.81 | 26.33 | — | 22.56 | 28.79 | 28.92 | — | 29.12 | 80.33 |
| — | +195.2% | — | -9.7% | -27.9% | +21.9% | — | -40.4% | -8.7% | -28.7% | — | -4.4% | +10.5% | -9.0% | — | -22.5% | -64.2% | -45.8% | — | +15.6% | — | |
| EV / EBITDA | 12.81 | 9.00 | 11.87 | 16.34 | 14.27 | 16.77 | 17.29 | 21.61 | 20.54 | 17.67 | 17.85 | 26.26 | 23.21 | 25.27 | 31.98 | 26.69 | 21.87 | 23.22 | 30.33 | 42.80 | 43.72 |
| — | -46.3% | -31.3% | -24.4% | -30.6% | -5.1% | -3.1% | -17.7% | -11.5% | -30.1% | -44.2% | -1.6% | +6.1% | +8.8% | +5.4% | -37.6% | -50.0% | -45.4% | -24.1% | -16.9% | -5.0% | |
| EV / EBIT | 15.89 | 11.31 | 13.35 | 19.93 | 16.15 | 20.34 | 19.95 | 23.63 | 24.84 | 20.70 | 20.58 | 31.31 | 26.72 | 30.09 | 36.81 | 31.87 | 25.70 | 26.20 | 34.74 | 53.07 | 52.40 |
| — | -44.4% | -33.0% | -15.7% | -35.0% | -1.7% | -3.1% | -24.5% | -7.0% | -31.2% | -44.1% | -1.7% | +4.0% | +14.9% | +6.0% | -40.0% | -50.9% | -47.9% | -24.2% | -10.4% | +2.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9% | 59.7% | 72.9% | 68.1% | 69.1% | 71.4% | 70.8% | 69.3% | 70.1% | 69.5% | 71.7% | 67.9% | 67.9% | 69.5% | 73.5% | 71.0% | 70.8% | 73.3% | 73.7% | 72.3% | 73.2% |
| — | -16.4% | +3.0% | -1.7% | -1.5% | +2.8% | -1.2% | +2.1% | +3.3% | -0.1% | -2.5% | -4.4% | -4.2% | -5.1% | -0.3% | -1.8% | -3.3% | -3.3% | -7.3% | -8.0% | -8.2% | |
| Operating Margin | 41.2% | 41.1% | 43.2% | 37.1% | 40.2% | 43.4% | 44.1% | 36.0% | 44.4% | 41.5% | 43.5% | 41.5% | 36.9% | 42.1% | 46.9% | 43.7% | 44.3% | 46.5% | 46.9% | 43.8% | 45.5% |
| — | -5.1% | -1.9% | +2.9% | -9.4% | +4.5% | +1.3% | -13.1% | +20.4% | -1.5% | -7.3% | -5.0% | -16.9% | -9.5% | +0.0% | -0.4% | -2.6% | -5.6% | -11.4% | -18.1% | -15.0% | |
| Net Margin | 29.0% | 31.2% | 33.4% | 44.5% | 32.4% | 31.7% | 7.3% | 32.3% | 34.4% | 32.9% | 34.3% | 35.8% | 31.8% | 33.3% | 36.2% | 33.3% | 34.5% | 36.7% | 34.9% | 31.5% | 35.6% |
| — | -1.7% | +358.4% | +37.8% | -5.8% | -3.6% | -78.8% | -9.8% | +8.3% | -1.1% | -5.3% | +7.5% | -7.8% | -9.4% | +3.7% | +5.6% | -3.3% | -3.5% | -15.1% | -26.0% | -13.7% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.4% | 5.5% | 6.6% | 7.2% | 4.9% | 5.2% | 1.1% | 4.7% | 5.3% | 4.9% | 5.6% | 5.6% | 4.7% | 5.2% | 6.7% | 5.6% | 5.9% | 6.6% | 6.3% | 5.0% | 5.6% |
| — | +7.1% | +498.8% | +54.2% | -7.2% | +5.5% | -80.2% | -16.3% | +12.9% | -6.3% | -16.8% | -0.6% | -20.6% | -20.8% | +6.6% | +13.3% | +5.2% | -1.2% | -24.2% | -36.8% | -27.9% | |
| ROA | 13.7% | 2.9% | 3.8% | 4.8% | 3.4% | 3.7% | 0.8% | 3.6% | 3.8% | 3.4% | 3.7% | 3.7% | 3.3% | 3.7% | 4.6% | 3.7% | 3.8% | 4.1% | 4.0% | 3.3% | 3.7% |
| — | -21.9% | +361.3% | +34.2% | -11.1% | +8.4% | -77.7% | -3.1% | +17.4% | -7.6% | -19.0% | -0.8% | -13.7% | -9.8% | +13.7% | +12.6% | +3.1% | -6.4% | -28.5% | -41.3% | -38.0% | |
| ROIC | 18.1% | 4.6% | 5.2% | 4.0% | 4.3% | 5.1% | 4.7% | 3.7% | 4.8% | 4.4% | 5.0% | 4.6% | 3.8% | 4.6% | 6.0% | 5.1% | 5.2% | 5.8% | 5.8% | 4.8% | 4.9% |
| — | -8.8% | +8.4% | +6.6% | -10.2% | +15.3% | -4.8% | -18.5% | +26.9% | -5.6% | -17.5% | -10.9% | -27.3% | -19.9% | +3.7% | +7.4% | +6.4% | -2.8% | -20.1% | -29.0% | -27.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.14 | 0.24 | 0.25 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.08 | 0.08 | 0.09 |
| — | +188.9% | +361.5% | +370.2% | -11.2% | -13.7% | -11.3% | -15.1% | -18.5% | -16.6% | -18.3% | -19.4% | -18.7% | -19.8% | -14.1% | -9.9% | -4.1% | -4.3% | -10.1% | -13.4% | -18.3% | |
| Debt / EBITDA | 0.66 | 1.64 | 2.43 | 2.89 | 0.63 | 0.59 | 0.64 | 0.78 | 0.67 | 0.75 | 0.70 | 0.78 | 0.96 | 0.85 | 0.72 | 0.87 | 0.90 | 0.84 | 0.83 | 0.99 | 1.00 |
| — | +180.0% | +281.6% | +269.7% | -5.4% | -21.7% | -8.7% | +0.0% | -30.3% | -12.1% | -2.9% | -10.2% | +6.6% | +0.7% | -13.7% | -12.3% | -10.6% | -5.8% | +5.0% | +10.4% | +5.6% | |
| Current Ratio | 1.84 | 1.76 | 24.26 | 1.84 | 2.50 | 2.59 | 2.81 | 4.41 | 3.58 | 2.89 | 2.50 | 2.31 | 2.67 | 3.08 | 2.70 | 2.76 | 2.61 | 2.42 | 2.14 | 3.05 | 2.67 |
| — | -32.2% | +763.5% | -58.2% | -30.4% | -10.4% | +12.2% | +90.9% | +34.3% | -6.0% | -7.3% | -16.3% | +2.4% | +26.9% | +26.3% | -9.5% | -2.3% | -9.9% | -15.9% | -24.3% | -35.8% | |
| Quick Ratio | 1.84 | 1.76 | 24.26 | 1.84 | 2.50 | 2.59 | 2.81 | 4.41 | 3.58 | 2.89 | 2.50 | 2.31 | 2.67 | 3.08 | 2.70 | 2.76 | 2.61 | 2.42 | 2.14 | 3.05 | 2.67 |
| — | -32.2% | +763.5% | -58.2% | -30.4% | -10.4% | +12.2% | +90.9% | +34.3% | -6.0% | -7.3% | -16.3% | +2.4% | +26.9% | +26.3% | -9.5% | -2.3% | -9.9% | -15.9% | -24.3% | -35.8% | |
| Interest Coverage | 247.80 | 46.69 | 36.97 | 83.77 | 548.60 | 701.83 | 452.43 | 267.02 | 269.49 | 140.03 | 307.07 | 52.23 | 438.46 | 1490.62 | 756.35 | 1528.46 | 572.47 | 266.81 | 523.65 | 432.17 | 238.24 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MKTX stock.
MarketAxess Holdings Inc.'s current P/E is 24.7x. The average P/E over the last 4 quarters is 18.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
MarketAxess Holdings Inc.'s current operating margin is 41.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking MarketAxess Holdings Inc.'s business trajectory between earnings reports.