Friday 6 November 2026 Export MKTX’s income statement to Excel — free account

MarketAxess Holdings Inc.

MarketAxess Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $846.3 million, up 3.57% from fiscal 2024.

Revenue: +0.76%
EPS: −16.9%
Free cash flow: −83.7%

Quarter to September 2026, against a year earlier

165.62 0.08 +0.05%

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Market cap: $5.8B
P/E: 20.2×
Fwd P/E: 21.3×
Dividend yield: 1.87%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	6	6	5	4	5	3	5	4	7	5
P/E ratio Full definition →	43.78	50.65	45.15	68.56	71.14	59.86	42.71	41.64	31.05	27.17
P/S ratio Full definition →	15.05	19.08	17.93	27.49	30.93	22.07	14.86	14.29	10.40	7.94
P/FCF ratio Full definition →	77.67	52.69	44.29	60.80	59.40	66.64	44.97	38.23	25.86	20.72
P/Operating CF Full definition →	97.75	161.60	111.40	157.71	93.65	105.87	79.52	75.91	48.22	42.34
P/B ratio Full definition →	11.82	14.58	12.85	18.26	22.32	14.81	9.87	8.32	6.12	5.86
Price to Tangible BV Full definition →	13.68	16.62	14.32	25.00	29.92	20.03	12.89	11.48	8.06	8.94
EV/Sales Full definition →	14.06	18.05	16.81	26.71	30.29	21.35	14.19	13.56	9.49	7.32
EV/EBITDA Full definition →	24.88	32.44	31.07	48.16	49.98	37.54	25.86	26.08	18.40	14.55
EV/Operating CF Full definition →	57.61	42.25	32.70	51.35	51.60	52.89	35.23	30.58	20.12	16.22
EV/FCF Full definition →	72.58	49.83	41.53	59.06	58.16	64.46	42.94	36.28	23.58	19.12
Quick Ratio Full definition →	6.89	6.91	6.21	6.48	3.18	2.66	2.52	2.19	3.68	2.70
Current Ratio Full definition →	7.08	7.19	6.46	6.84	3.28	2.73	2.68	2.32	3.93	2.80
Net Debt/EBITDA Full definition →	(1.74)	(1.86)	(2.06)	(1.42)	(1.29)	(1.27)	(1.22)	(1.61)	(1.80)	(1.22)
Debt/Assets Full definition →	0.00%	0.00%	0.00%	10.26%	0.00%	5.75%	5.16%	0.00%	0.00%	11.37%
Debt/Equity Full definition →	0.00	0.00	0.00	0.13	0.00	0.08	0.08	0.00	0.00	0.19
Asset Turnover Full definition →	0.76	0.71	0.68	0.62	0.60	0.49	0.46	0.42	0.43	0.45
Operating CF/Net income Full definition →	0.71	1.13	1.30	1.30	1.35	1.09	1.16	1.29	1.41	1.55
Capex/Depreciation Full definition →	(1.04)	(1.33)	(2.06)	(1.06)	(1.07)	(0.84)	(0.77)	(0.69)	(0.70)	(0.69)
Interest Coverage Full definition →	—	—	—	—	328.13	400.52	466.97	158.86	212.91	229.88
ROE Full definition →	29.39%	30.14%	30.79%	29.74%	34.71%	25.84%	23.58%	21.74%	20.45%	19.46%
ROA Full definition →	26.09%	26.70%	27.08%	24.83%	26.19%	18.02%	15.95%	14.25%	14.41%	13.24%
ROIC Full definition →	112.69%	115.27%	109.40%	42.67%	56.29%	39.30%	34.13%	29.75%	33.72%	34.10%
Return on Tangible Assets Full definition →	31.86%	32.91%	31.90%	35.40%	41.01%	32.74%	29.62%	27.06%	25.66%	24.74%
Average Days of Receivables Full definition →	50.29	48.83	48.21	44.27	190.41	246.60	281.91	377.24	200.83	254.56
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	41.84%	42.89%	44.11%	43.47%	37.34%	41.80%	43.48%	46.50%	47.06%	48.58%
Intangible Assets out of Total Assets Full definition →	0.12	0.11	0.09	0.22	0.18	0.18	0.16	0.18	0.19	0.20
Share Based Compensation of Revenue Full definition →	3.95%	3.67%	3.64%	4.95%	3.72%	3.91%	4.16%	3.88%	3.63%	3.65%
Graham Net Nets Full definition →	0.07	0.05	0.06	0.03	0.03	0.04	0.06	0.07	0.10	0.08
Graham Number Full definition →	31.31	35.54	41.62	50.83	67.92	65.51	65.80	73.01	77.78	68.12
Earnings Yield Full definition →	2.28%	1.97%	2.21%	1.46%	1.41%	1.67%	2.34%	2.40%	3.22%	3.68%
Free Cash Flow Yield Full definition →	1.29%	1.90%	2.26%	1.64%	1.68%	1.50%	2.22%	2.62%	3.87%	4.83%
Revenue per Share Full definition →	9.98	10.67	11.79	13.79	18.45	18.63	19.17	20.04	21.73	22.84
Operating CF per Share Full definition →	2.44	4.56	6.06	7.17	10.83	7.52	7.72	8.89	10.25	10.31
Capex per Share Full definition →	(0.50)	(0.69)	(1.29)	(0.94)	(1.22)	(1.35)	(1.38)	(1.40)	(1.50)	(1.57)
Free Cash Flow per Share Full definition →	1.93	3.87	4.77	6.24	9.61	6.17	6.34	7.49	8.74	8.75
Cash per Share Full definition →	9.84	11.03	13.16	13.50	14.43	15.81	15.09	16.81	20.13	19.95
Shareholders Equity per Share Full definition →	12.70	13.96	16.45	20.77	25.56	27.76	28.85	34.44	36.93	30.92
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	12.70	13.96	16.45	20.77	25.56	27.76	28.85	34.44	36.93	30.92
Free Cash Flow Full definition →	71.24	142.48	176.32	231.24	358.86	231.48	237.36	281.32	328.67	324.13
Working Capital Full definition →	364.90	411.42	478.77	507.04	644.80	691.55	744.55	851.11	961.10	884.62
Capital Expenditures Full definition →	(18.50)	(25.56)	(47.59)	(34.70)	(45.63)	(50.62)	(51.87)	(52.45)	(56.56)	(58.01)
Net Current Asset Value Full definition →	364.90	411.42	478.77	409.05	551.19	603.12	661.88	771.43	888.45	587.09
EV/EBIT Full definition →	27.22	35.57	34.45	54.43	55.70	44.24	31.18	32.40	22.74	18.13
Capex to Sales Full definition →	0.05	0.07	0.11	0.07	0.07	0.07	0.07	0.07	0.07	0.07
Price to Operating Income Full definition →	29.12	37.61	36.74	56.04	56.88	45.74	32.65	34.14	24.93	19.65
Other line items
Depreciation/Fixed assets Full definition →	0.57	0.50	0.37	0.45	0.50	0.63	0.67	0.74	0.75	0.75
Cash ROIC Full definition →	8.58%	15.46%	16.11%	16.89%	24.02%	13.44%	13.72%	14.62%	15.32%	15.40%
Accounts Receivable Turnover Full definition →	8.07	7.62	7.91	8.55	3.27	1.68	1.40	1.13	1.33	1.63
Accounts Payable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	45.56	51.65	55.09	59.78	210.75	415.86	513.51	666.28	613.67	519.89
Average Payables Full definition →	13.70	14.70	21.80	26.08	100.24	239.11	329.90	466.83	415.29	312.35
Average Assets Full definition →	483.54	554.64	638.39	825.23	1,143.18	1,430.94	1,569.11	1,811.42	1,902.14	1,862.05
Average Common Equity Full definition →	429.36	491.39	561.32	688.98	862.58	998.19	1,061.20	1,187.03	1,340.81	1,267.16

Show all line items

Columns are period end dates · fundamentals updated 6 Nov 2026

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