MarketAxess Holdings Inc. MKTX
- Market cap
- $5.8B
- P/E
- 19.3×
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Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 98.00 | 147.79 | 172.09 | 206.79 | 275.50 | 341.50 | 217.44 | 200.01 | 192.42 | 156.17 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 178.21 | 211.06 | 231.33 | 421.45 | 606.45 | 589.25 | 412.79 | 399.78 | 296.68 | 232.84 |
High Price
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| 383 | 429 | 454 | 527 | 606 | 676 | 744 | 881 | 891 | 868 |
Employees
|
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| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Revenue/Emp
|
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| 368 | 393 | 436 | 511 | 689 | 699 | 718 | 753 | 817 | 846 |
Revenue
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| 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin
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| 192 | 202 | 218 | 257 | 374 | 334 | 338 | 333 | 361 | 367 |
EBT
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| 52.10% | 51.29% | 50.07% | 50.34% | 54.32% | 47.77% | 47.10% | 44.21% | 44.13% | 43.37% |
EBT Margin
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| 126 | 148 | 173 | 205 | 299 | 258 | 250 | 258 | 274 | 247 |
Net Income
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| 18 | 19 | 23 | 33 | 43 | 60 | 67 | 76 | 80 | 84 |
Depreciation
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| 9.98 | 10.67 | 11.79 | 13.79 | 18.45 | 18.63 | 19.17 | 20.04 | 21.73 | 22.84 |
Revenue/Sh
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| 3.42 | 4.02 | 4.68 | 5.53 | 8.01 | 6.88 | 6.68 | 6.87 | 7.29 | 6.66 |
Earnings/Sh
|
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| 2.44 | 4.56 | 6.06 | 7.17 | 10.83 | 7.52 | 7.72 | 8.89 | 10.25 | 10.31 |
Cash Flow/Sh
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| (0.50) | (0.69) | (1.29) | (0.94) | (1.22) | (1.35) | (1.38) | (1.40) | (1.50) | (1.57) |
Capex/Sh
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| 1.93 | 3.87 | 4.77 | 6.24 | 9.61 | 6.17 | 6.34 | 7.49 | 8.74 | 8.75 |
Free CF/Sh
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| 12.70 | 13.96 | 16.45 | 20.77 | 25.56 | 27.76 | 28.85 | 34.44 | 36.93 | 30.92 |
Book Value/Sh
|
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| 37 | 37 | 37 | 37 | 37 | 38 | 37 | 38 | 38 | 37 |
Shares
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| 43.78 | 50.65 | 45.15 | 68.56 | 71.14 | 59.86 | 42.71 | 41.64 | 31.05 | 27.17 |
PE Ratio
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| 15.05 | 19.08 | 17.93 | 27.49 | 30.93 | 22.07 | 14.86 | 14.29 | 10.40 | 7.94 |
PS Ratio
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| 11.82 | 14.58 | 12.85 | 18.26 | 22.32 | 14.81 | 9.87 | 8.32 | 6.12 | 5.86 |
PB Ratio
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| 14.06 | 18.05 | 16.81 | 26.71 | 30.29 | 21.35 | 14.19 | 13.56 | 9.49 | 7.32 |
EV/Sales
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| 72.58 | 49.83 | 41.53 | 59.06 | 58.16 | 64.46 | 42.94 | 36.28 | 23.58 | 19.12 |
EV/FCF
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| 90 | 168 | 224 | 266 | 404 | 282 | 289 | 334 | 385 | 382 |
Op' Cash Flow
|
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| (19) | (26) | (48) | (35) | (46) | (51) | (52) | (52) | (57) | (58) |
Capex
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| 71 | 142 | 176 | 231 | 359 | 231 | 237 | 281 | 329 | 324 |
FCF
|
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| 365 | 411 | 479 | 507 | 645 | 692 | 745 | 851 | 961 | 885 |
Working Cap'
|
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| — | — | — | 98 | 94 | 88 | 83 | — | — | 220 |
Total Debt
|
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| (363) | (407) | (486) | (403) | (539) | (505) | (482) | (631) | (757) | (519) |
Net Debt
|
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| 468 | 515 | 608 | 770 | 955 | 1,041 | 1,081 | 1,293 | 1,389 | 1,146 |
Sh' Equity
|
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| 26.09% | 26.70% | 27.08% | 24.83% | 26.19% | 18.02% | 15.95% | 14.25% | 14.41% | 13.24% |
ROA
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| 112.69% | 115.27% | 109.40% | 42.67% | 56.29% | 39.30% | 34.13% | 29.75% | 33.72% | 34.10% |
ROIC
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| 29.39% | 30.14% | 30.79% | 29.74% | 34.71% | 25.84% | 23.58% | 21.74% | 20.45% | 19.46% |
ROE
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MarketAxess Holdings Inc. peers in Capital Markets
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| BGC BGC Group, Inc. | $5.8B | 28.9× | Compare |
| MRX Marex Group PLC | $5.2B | 16.9× | Compare |
| MARA Marathon Digital Holdings, Inc. | $5.0B | 0.0× | Compare |
| PIPR Piper Sandler Companies | $5.0B | 15.9× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| MC Moelis & Company | $4.7B | 19.4× | Compare |
| FIGR Figure Technology Solutions, Inc. | $7.4B | 20.7× | Compare |
| VIRT Virtu Financial, Inc. | $8.2B | 8.9× | Compare |
| WULF TeraWulf Inc. | $8.3B | 0.0× | Compare |
MarketAxess Holdings Inc. (MKTX) key facts
- MarketAxess Holdings Inc. (MKTX) is a Capital Markets company in the Financial sector, listed on Nasdaq.
- MarketAxess Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $846.3 million, up 3.57% from fiscal 2024.
- Net income was $246.9 million, or $6.66 per share (basic), a net margin of 29.1%.
- As of September 25, 2026, MKTX traded at $164.19, a market capitalization of $5.8 billion.
- At that price the stock trades at 19.3× trailing-twelve-month earnings and 6.6× sales.
- MarketAxess Holdings Inc. pays an annual dividend of $2.88 per share, a yield of 1.35%, with a payout ratio of 42.3%.
- Return on equity was 19.5% and debt-to-equity 0.09.
MarketAxess Holdings Inc. (MKTX) Latest News
23 Sep
RBC says Intercontinental Exchange could realize multiple growth opportunities from its MarketAxess deal, including a new trading product named Premium and expanded cross-selling, data, and technology synergies from the integration. The note implies ICE could broaden its fixed-income footprint and product lineup by leveraging MarketAxess' platform, though no timing or financial details were provided. Integration with ICE could create moderate, indirect gains for MarketAxess through synergies and new product opportunities.
3 Aug
MarketAxess Holdings Inc. (MKTX) stock surged 29% after Intercontinental Exchange announced its acquisition. Guidance provided for trading MKTX shares ahead of deal completion. Intercontinental Exchange acquisition transforms MarketAxess corporate ownership and long-term market position.
MarketAxess Holdings Inc. (MKTX) beat Q2 earnings estimates driven by strong emerging markets volumes. Earnings beat from emerging markets volumes points to moderate influence on financial results without major strategic changes.
31 Jul
MarketAxess Holdings Inc. agreed to a $6 billion acquisition by ICE, triggering a 30% surge in its stock price. A $6 billion buyout by ICE marks full ownership change and redefines MarketAxess Holdings Inc. trajectory.
MarketAxess Holdings (MKTX) questions whether its ICE deal qualifies as a bargain or if the stock is already fully valued. ICE deal evaluation points to moderate effects on MKTX valuation and strategic positioning.
30 Jul
MarketAxess Holdings Inc. enters merger agreement at 33% premium, sending shares sharply higher. Merger at 33% premium fundamentally redefines MarketAxess ownership and long-term trajectory.
Intercontinental Exchange, parent of NYSE, will acquire MarketAxess Holdings Inc. for $6 billion. The $6 billion acquisition by Intercontinental Exchange will fundamentally redefine MarketAxess's competitive position and long-term prospects.
ICE acquires MarketAxess Holdings Inc. in a $6 billion bond trading deal. The $6 billion acquisition by ICE ends MarketAxess independent operations and fully alters its market trajectory.
MarketAxess Holdings Inc. agrees to $6 billion acquisition by Intercontinental Exchange, driving its stock up 30%. $6 billion acquisition by Intercontinental Exchange ends MarketAxess Holdings Inc. independence and resets its valuation and operations.
Intercontinental Exchange acquires MarketAxess Holdings to create a premier fixed income marketplace. Acquisition by Intercontinental Exchange fundamentally redefines MarketAxess as a non-independent entity with altered competitive position.
MarketAxess Holdings Inc. stock rises today on a $6 billion development that lifts company valuation and investor sentiment. A $6 billion factor drives substantial stock gains and alters company trajectory positively.
MarketAxess Holdings Inc. Q2 earnings feature key metrics versus analyst estimates. Q2 earnings metrics versus estimates may moderately influence MarketAxess stock and investor sentiment.
MarketAxess Holdings Inc. (MKTX) reported Q2 earnings and revenues above analyst estimates. Q2 earnings and revenue beats lift near-term sentiment for MarketAxess Holdings Inc. but do not signal major strategic or competitive changes.
MarketAxess Holdings Inc. released second quarter 2026 financial results. Quarterly earnings releases typically produce moderate short-term stock price moves and sentiment shifts.
22 Jul
MarketAxess Holdings (MKTX) maintains stock attractiveness despite ongoing competition and margin pressures. Competition and margin concerns create moderate effects on MKTX financial performance and positioning.
8 Jul
MarketAxess Holdings Inc. (MKTX) stock may be 39% undervalued following TraX Tape launch. TraX Tape launch signals major revenue growth potential for MarketAxess trading platform.
MarketAxess Holdings sees rising U.S. portfolio trading share despite softer volumes, raising questions over whether this shifts the bull case for the company. Shifts in portfolio trading volumes and market share directly influence MarketAxess revenue outlook and investor views.
MarketAxess Holdings launched TraX Tape. Potential upside from the launch may already be priced into the stock. Product launch introduces moderate operational innovation without expected fundamental trajectory shift.
7 Jul
MarketAxess recorded over one trillion dollars in Q2 trading volume even as average daily volume declined. Mixed Q2 volume results may affect near-term sentiment and financial metrics without altering long-term trajectory.
6 Jul
MarketAxess launches new bond data tool built on decade of trading infrastructure. New bond data tool supports product innovation with moderately noticeable effects on operations.
22 Jun
MarketAxess Holdings Inc. reported Q1 earnings with key highlights positioned against peer financial exchanges and data stocks. Q1 earnings comparison to peers can moderately affect near-term investor views on performance.
19 Jun
MarketAxess Holdings Inc. launches new TraX Tape to expand bond market transparency. TraX Tape rollout improves MarketAxess bond platform features and competitive stance.
18 Jun
MarketAxess launches TraX Tape delivering enriched bond market activity data. TraX Tape launch enhances MarketAxess data offering with moderate competitive upside.
12 Jun
BofA Securities states MarketAxess Holdings Inc. will benefit from abating competition and reacceleration in electronic trading. Positive analyst view on easing competition and trading recovery may moderately lift investor sentiment and near-term performance.
4 Jun
MarketAxess is integrating AI into bond trading platforms and rolling out new-issue tools to strengthen competitive advantages in electronic fixed-income markets. AI integration in core trading and new-issue processes represents a major strategic initiative positioned to materially improve operational efficiency and market position.
1 Jun
MarketAxess Holdings Inc. released its Q1 2026 earnings call transcript covering quarterly financial results, revenue figures, trading volumes, and management commentary on operations and outlook. Standard quarterly earnings data and guidance may shift near-term stock sentiment and valuation without indicating structural change.
20 May
MarketAxess Holdings Inc. reports strong first quarter 2026 results powered by AI-driven growth, supporting an improved valuation outlook for the company. Strong quarterly results and AI initiatives indicate major positive shifts in performance and investor outlook.
18 May
MarketAxess Holdings Inc. reported Q1 results, with analysts questioning revenue trends, electronic trading volumes, competitive positioning, margin outlook, and international expansion plans during the earnings call. Q1 earnings call details may shape near-term investor views on MarketAxess volumes and margins without altering long-term company direction.
16 May
MarketAxess Holdings Inc. secured a $102 million investment that signals renewed investor confidence in the fintech stock after recent declines. Large $102 million investment directly strengthens MarketAxess Holdings Inc. market sentiment and future performance outlook.
11 May
MarketAxess Holdings Inc. (MKTX) posted strong Q1 revenue growth propelled by international expansion and AI initiatives. International expansion and AI initiatives driving Q1 revenue growth represent major strategic moves likely to significantly boost MKTX's trajectory and investor sentiment.