MarketAxess Holdings Inc.

MKTX Financial Capital Markets

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

165.60 0.01 −0.01%
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

MarketAxess Holdings Inc. (MKTX) Free cash flow margin

Alert me on Free cash flow margin

MarketAxess Holdings Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 34.5%, down 3.8 percentage points from fiscal 2025 (38.3%). Over the past ten years it has ranged from 19.4% (fiscal 2016) to 52.1% (fiscal 2020); the current reading is higher than 64% of that period. That is above the Capital Markets industry median of 0.00% and above the Financial sector median of 11.4%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 38.3% (1.92)
FY2024 40.2% 2.84
FY2023 37.4% 4.34
FY2022 33.0% (0.08)
FY2021 33.1% (18.95)
FY2020 52.1% 6.85
FY2019 45.2% 4.74
FY2018 40.5% 4.26
FY2017 36.2% 16.85
FY2016 19.4% (16.63)

Against its own ten years

Low 19.4% High 52.1%
Ten-year median 37.4%
Current reading's percentile 64

Free cash flow margin against peers

Company Free cash flow margin
MC Moelis & Company compare 27.5%
MKTX MarketAxess Holdings Inc. 16.4%
BGC BGC Group, Inc. compare 13.4%
MRX Marex Group PLC compare 0.00%
GLXY Galaxy Digital Inc. compare −3.29%
FIGR Figure Technology Solutions, Inc. compare −14.8%
HUT Hut 8 Corp. compare −20.4%
RIOT Riot Platforms, Inc. compare −87.7%
WULF TeraWulf Inc. compare −1,453.3%
Capital Markets industry median 0.00%
Financial sector median 11.4%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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