MarketAxess Holdings Inc. (MKTX) P/E Ratio History
Historical price-to-earnings valuation from 2005 to 2025
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, MarketAxess Holdings Inc. (MKTX) trades at a price-to-earnings ratio of 26.4x, with a stock price of $192.00 and trailing twelve-month earnings per share of $5.92.
The current P/E is 41% below its 5-year average of 44.3x. Over the past five years, MKTX's P/E has ranged from a low of 28.9x to a high of 72.7x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.8x, MKTX trades at a 92% premium to its sector peers. The sector includes 789 companies with P/E ratios ranging from 0.0x to 196.2x.
The PEG ratio of 4.28 (P/E divided by 6% EPS growth) suggests the stock may be expensive relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, MKTX trades roughly in line with the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MKTX DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Exchanges and Electronic Trading Venues peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
TWTradeweb Markets Inc. | $29B | 32.6 | 0.96Best | +62% |
MKTXMarketAxess Holdings Inc. | $7B | 26.4Lowest | 4.28 | +6% |
MIAXMIAMI INTERNATIONAL HOLDINGS, INC. | $4B | 33.0 | - | +596%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | $174.25 | $5.88 | 29.6x | -30% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $223.34 | $5.94 | 37.6x | -12% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $216.35 | $5.75 | 37.6x | -12% |
| FY2024 Q4 | $226.04 | $7.27 | 31.1x | -27% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $256.20 | $7.38 | 34.7x | -18% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $200.53 | $6.94 | 28.9x | -32% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $219.25 | $6.82 | 32.1x | -24% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $292.85 | $6.86 | 42.7x | +0% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $213.64 | $6.60 | 32.4x | -24% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $261.42 | $6.72 | 38.9x | -9% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $391.29 | $6.90 | 56.7x | +33% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $278.89 | $6.65 | 41.9x | -1% |
Average P/E for displayed period: 42.5x
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Start ComparisonFrequently Asked Questions
Is MKTX stock overvalued or undervalued?
MKTX trades at 26.4x P/E, below its 5-year average of 44.3x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does MKTX's valuation compare to peers?
MarketAxess Holdings Inc. P/E of 26.4x compares to sector median of 13.8x. The premium reflects expected growth above peers.
What is MKTX's PEG ratio?
MKTX PEG ratio is 4.28. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2005-2025.