Saturday 17 October 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. In the quarter to June 2026, revenue was flat, EPS grew 1.05% and free cash flow fell 83.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten.

164.64 0.10 +0.06%

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Market cap: $5.8B
P/E: 19.4×
Fwd P/E: 14.6×
Dividend yield: 1.88%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.18

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	1	1	1	1	1	1	1	1	2	1

Insider Ownership 0.78%

Capital & Financial Ratios $m

Market Cap 5,790.00

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 19.37

Fwd P/E 14.60

P/S ratio 6.66

P/B ratio 4.68

Past 5Y EPS Growth (3.29%)

This Y EPS Growth 7.43%

Next Y EPS Growth 9.00%

Next Y revenue growth 5.90%

Next 5Y EPS Growth 9.12%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 4.57%

10-year low 10-year high

P/S against its own 10 years 4.61%

10-year low 10-year high

P/B against its own 10 years 6.08%

10-year low 10-year high

Dividends

Payout Ratio 0.37

Annual Dividend Rate 3.10

Annual Dividend Yield 1.88%

	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 special payouts not included in total or ratios

Assets vs Liabilities $m

	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

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 $m

	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

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	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

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	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

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	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
	High	178.21	211.06	231.33	421.45	606.45	589.25	412.79	399.78	296.68	232.84
People
People	Employees	383	429	454	527	606	676	744	881	891	868
	Revenue/emp, $m	0.96	0.92	0.96	0.97	1.14	1.03	0.97	0.85	0.92	0.97
Income, $m
Income, $m	Revenue	368	393	436	511	689	699	718	753	817	846
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	192	202	218	257	374	334	338	333	361	367
	EBT margin, %	52.10	51.29	50.07	50.34	54.32	47.77	47.10	44.21	44.13	43.37
	Net income	126	148	173	205	299	258	250	258	274	247
	Depreciation	18	19	23	33	43	60	67	76	80	84
Per share, $
Per share, $	Revenue	9.98	10.67	11.79	13.79	18.45	18.63	19.17	20.04	21.73	22.84
	Earnings	3.42	4.02	4.68	5.53	8.01	6.88	6.68	6.87	7.29	6.66
	Cash flow	2.44	4.56	6.06	7.17	10.83	7.52	7.72	8.89	10.25	10.31
	Capex	(0.50)	(0.69)	(1.29)	(0.94)	(1.22)	(1.35)	(1.38)	(1.40)	(1.50)	(1.57)
	Free cash flow	1.93	3.87	4.77	6.24	9.61	6.17	6.34	7.49	8.74	8.75
	Book value	12.70	13.96	16.45	20.77	25.56	27.76	28.85	34.44	36.93	30.92
	Shares, m	37	37	37	37	37	38	37	38	38	37
Valuation, ×
Valuation, ×	P/E	43.78	50.65	45.15	68.56	71.14	59.86	42.71	41.64	31.05	27.17
	P/S	15.05	19.08	17.93	27.49	30.93	22.07	14.86	14.29	10.40	7.94
	P/B	11.82	14.58	12.85	18.26	22.32	14.81	9.87	8.32	6.12	5.86
	EV/Sales	14.06	18.05	16.81	26.71	30.29	21.35	14.19	13.56	9.49	7.32
	EV/FCF	72.58	49.83	41.53	59.06	58.16	64.46	42.94	36.28	23.58	19.12
Cash, $m
Cash, $m	Operating cash flow	90	168	224	266	404	282	289	334	385	382
	Capex	(19)	(26)	(48)	(35)	(46)	(51)	(52)	(52)	(57)	(58)
	Free cash flow	71	142	176	231	359	231	237	281	329	324
Balance, $m
Balance, $m	Working capital	365	411	479	507	645	692	745	851	961	885
	Total debt	—	—	—	98	94	88	83	—	—	220
	Net debt	(363)	(407)	(486)	(403)	(539)	(505)	(482)	(631)	(757)	(519)
	Shareholders’ equity	468	515	608	770	955	1,041	1,081	1,293	1,389	1,146
Returns, %
Returns, %	ROA	26.09	26.70	27.08	24.83	26.19	18.02	15.95	14.25	14.41	13.24
	ROIC	112.69	115.27	109.40	42.67	56.29	39.30	34.13	29.75	33.72	34.10
	ROE	29.39	30.14	30.79	29.74	34.71	25.84	23.58	21.74	20.45	19.46

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SNEX StoneX Group Inc.	$7.2B	12.8×	18.8×	+15.40% (above 0%: growing)	+86.64% (above 0%: growing)	−183.02% (below 0%: shrinking)	3.06%	1.67%	Compare
GLXY Galaxy Digital Inc.	$7.1B	— (loss-making)	— (loss-making)	−0.99% (below 0%: shrinking)	n/m	+80.14% (above 0%: growing)	0.86%	(1.21%)	Compare
WULF TeraWulf Inc.	$6.3B	— (loss-making)	— (loss-making)	−6.02% (below 0%: shrinking)	n/m	−695.25% (below 0%: shrinking)	72.30%	(313.74%)	Compare
FIGR Figure Technology Solutions, Inc.	$6.2B	17.7×	30.4×	+112.66% (above 0%: growing)	−9.34% (below 0%: shrinking)	−119.20% (below 0%: shrinking)	87.18%	34.46%	Compare
RIOT Riot Platforms, Inc.	$5.8B	— (loss-making)	— (loss-making)	+13.89% (above 0%: growing)	n/m	+49.16% (above 0%: growing)	23.67%	(137.42%)	Compare
MKTX MarketAxess Holdings Inc.	$5.8B	19.4×	14.6×	−0.48% (below 0%: shrinking)	+1.05% (above 0%: growing)	−83.73% (below 0%: shrinking)	100.00%	41.15%
BGC BGC Group, Inc.	$5.4B	28.3×	7.4×	+7.85% (above 0%: growing)	+36.36% (above 0%: growing)	+164.18% (above 0%: growing)	97.58%	12.38%	Compare
MRX Marex Group PLC	$5.2B	16.7×	11.3×	+76.97% (above 0%: growing)	+94.87% (above 0%: growing)	+54.74% (above 0%: growing)	100.00%	21.10%	Compare
PIPR Piper Sandler Companies	$4.6B	14.2×	16.3×	+24.88% (above 0%: growing)	+58.10% (above 0%: growing)	+58.77% (above 0%: growing)	98.91%	20.27%	Compare
Median of peers	$6.0B	16.7×	16.3×	+14.65%	+58.10%	+51.95%	79.74%	7.02%

All 93 Capital Markets stocks →

MarketAxess Holdings Inc. (MKTX) key facts

Concern: Net income was $246.9 million, or $6.66 per share (basic), a net margin of 29.1%.
Strength: MarketAxess Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $846.3 million, up 3.57% from fiscal 2024.
MarketAxess Holdings Inc. (MKTX) is a Capital Markets company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, MKTX traded at $164.64, a market capitalization of $5.8 billion.
At that price the stock trades at 19.4× trailing-twelve-month earnings and 6.7× sales; its P/E is higher than 5% of its own readings over the past ten years.
MarketAxess Holdings Inc. pays an annual dividend of $3.10 per share, a yield of 1.88%, with a payout ratio of 36.6%.
Return on equity was 19.5% and debt-to-equity 0.09.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.