MarketAxess Holdings Inc. MKTX

164.19 0.42 0.26% as of 25 Sep
Market cap
$5.8B
P/E
19.3×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 1.16
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — 1 1 1 1 1 1 1 1 1 2
Insider Ownership 0.95%

Capital & Financial Ratios

Market Cap 5,760.00
Revenue 870.03
Net Income 307.10
Free Cash Flow 142.59
Net Debt (350.34)
Current Ratio 1.85
Debt/Equity 0.09
P/E ratio 19.32
P/S ratio 6.64
P/B ratio 4.67
Past 5Y EPS Growth 6.16%
This Y EPS Growth 7.48%
Next Y EPS Growth 9.03%
Next 5Y EPS Growth 9.08%
in millions of $

Dividends

Payout Ratio 0.42
Annual Dividend Rate 2.88
Annual Dividend Yield 1.35%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.12
0.78
0.78
0.78
2025 3.04
0.76
0.76
0.76
0.76
2024 2.96
0.74
0.74
0.74
0.74
2023 2.88
0.72
0.72
0.72
0.72
2022 2.80
0.70
0.70
0.70
0.70
2021 2.64
0.66
0.66
0.66
0.66
2020 2.40
0.60
0.60
0.60
0.60
2019 2.04
0.51
0.51
0.51
0.51
2018 1.68
0.42
0.42
0.42
0.42
2017 1.32
0.33
0.33
0.33
0.33
2016 1.04
0.26
0.26
0.26
0.26
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 631 757 739 466
Receivables 778 450 590 1,362
Inventory — — — —
Other — — — —
1,494 1,289 1,376 1,828
2023 2024 2025 Q'26
Payables 574 256 369 906
ST’ Debt — — — —
Other — — — —
642 328 492 990
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 10.81% 4.19% 5.62%
Cash Flow 11.87% (1.13%) 9.73%
Earnings 9.89% (3.80%) (0.48%)
Book Value 11.36% 3.71% 1.95%

Revenue

Mar Jun Sep Dec Year
’26 233 218 — — —
’25 209 219 209 209 846
’24 210 198 207 202 817
’23 203 180 172 197 753
’22 186 182 172 178 718
’21 195 176 162 165 699
’20 169 185 164 171 689
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (75) 27 — — —
’25 30 104 90 159 382
’24 (5) 119 95 176 385
’23 8 105 79 142 334
’22 (24) 94 85 134 289
’21 (23) 97 63 146 282
’20 120 105 (48) 228 404
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (93) 15 — — —
’25 13 91 77 143 324
’24 (20) 101 83 165 329
’23 (3) 93 63 128 281
’22 (35) 83 73 116 237
’21 (35) 83 50 134 231
’20 109 94 (60) 216 359
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 2.20 1.93 — — —
’25 0.40 1.91 1.84 2.51 6.64
’24 1.92 1.72 1.90 1.73 7.28
’23 1.96 1.59 1.46 1.84 6.85
’22 1.71 1.78 1.58 1.58 6.65
’21 2.11 1.77 1.52 1.37 6.77
’20 1.96 2.20 1.78 1.91 7.85
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell
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
178.21 211.06 231.33 421.45 606.45 589.25 412.79 399.78 296.68 232.84
High Price
383 429 454 527 606 676 744 881 891 868
Employees
1 1 1 1 1 1 1 1 1 1
Revenue/Emp
368 393 436 511 689 699 718 753 817 846
Revenue
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Gross Margin
192 202 218 257 374 334 338 333 361 367
EBT
52.10% 51.29% 50.07% 50.34% 54.32% 47.77% 47.10% 44.21% 44.13% 43.37%
EBT Margin
126 148 173 205 299 258 250 258 274 247
Net Income
18 19 23 33 43 60 67 76 80 84
Depreciation
9.98 10.67 11.79 13.79 18.45 18.63 19.17 20.04 21.73 22.84
Revenue/Sh
3.42 4.02 4.68 5.53 8.01 6.88 6.68 6.87 7.29 6.66
Earnings/Sh
2.44 4.56 6.06 7.17 10.83 7.52 7.72 8.89 10.25 10.31
Cash Flow/Sh
(0.50) (0.69) (1.29) (0.94) (1.22) (1.35) (1.38) (1.40) (1.50) (1.57)
Capex/Sh
1.93 3.87 4.77 6.24 9.61 6.17 6.34 7.49 8.74 8.75
Free CF/Sh
12.70 13.96 16.45 20.77 25.56 27.76 28.85 34.44 36.93 30.92
Book Value/Sh
37 37 37 37 37 38 37 38 38 37
Shares
43.78 50.65 45.15 68.56 71.14 59.86 42.71 41.64 31.05 27.17
PE Ratio
15.05 19.08 17.93 27.49 30.93 22.07 14.86 14.29 10.40 7.94
PS Ratio
11.82 14.58 12.85 18.26 22.32 14.81 9.87 8.32 6.12 5.86
PB Ratio
14.06 18.05 16.81 26.71 30.29 21.35 14.19 13.56 9.49 7.32
EV/Sales
72.58 49.83 41.53 59.06 58.16 64.46 42.94 36.28 23.58 19.12
EV/FCF
90 168 224 266 404 282 289 334 385 382
Op' Cash Flow
(19) (26) (48) (35) (46) (51) (52) (52) (57) (58)
Capex
71 142 176 231 359 231 237 281 329 324
FCF
365 411 479 507 645 692 745 851 961 885
Working Cap'
— — — 98 94 88 83 — — 220
Total Debt
(363) (407) (486) (403) (539) (505) (482) (631) (757) (519)
Net Debt
468 515 608 770 955 1,041 1,081 1,293 1,389 1,146
Sh' Equity
26.09% 26.70% 27.08% 24.83% 26.19% 18.02% 15.95% 14.25% 14.41% 13.24%
ROA
112.69% 115.27% 109.40% 42.67% 56.29% 39.30% 34.13% 29.75% 33.72% 34.10%
ROIC
29.39% 30.14% 30.79% 29.74% 34.71% 25.84% 23.58% 21.74% 20.45% 19.46%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

MarketAxess Holdings Inc. peers in Capital Markets

All 93 Capital Markets stocks →

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.

Source: company filings (standardised) and stockrow calculations.

MarketAxess Holdings Inc. (MKTX) Latest News

News by impact score

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23 Sep

3

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

5

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.

3

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

5

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.

3

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

5

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.

5

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.

5

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.

5

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.

5

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.

4

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.

3

MarketAxess Holdings Inc. Q2 earnings feature key metrics versus analyst estimates. Q2 earnings metrics versus estimates may moderately influence MarketAxess stock and investor sentiment.

3

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.

3

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

3

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

4

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.

3

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.

3

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

3

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

3

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

3

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

3

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

3

MarketAxess launches TraX Tape delivering enriched bond market activity data. TraX Tape launch enhances MarketAxess data offering with moderate competitive upside.

12 Jun

3

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

4

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

3 transcript

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

4

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

3

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

4

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

4

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.

stockrow.com/MKTX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com