MarketAxess Holdings Inc. logo

MarketAxess Holdings Inc.

MKTX

NASDAQFinancial ServicesFinancial - Capital Markets

Previous close

$162.11

+$0.21 · +0.13%

Aug 21, 4:00 PM ET

MKTX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

89

Deep Value

Momentum

24

Weakening

Sentiment

78

Bullish

Risk resilience

51

Elevated Risk

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Company profile

Company website

MarketAxess Holdings Inc. develops and operates a premier electronic trading platform, serving institutional investors and broker-dealers globally. This platform provides essential access to deep liquidity across a broad spectrum of fixed-income assets, including U.S. investment-grade and high-yield corporate bonds, U.S. Treasuries, municipal bonds, emerging market debt, and Eurobonds, among other debt securities. Through its innovative Open Trading protocols, the company facilitates anonymous, "all-to-all" corporate bond transactions between its diverse client base. Beyond its core trading capabilities, MarketAxess offers a comprehensive array of value-added products and services. These include Composite+ pricing and other sophisticated market data tools designed to inform trading strategies, as well as auto-execution and custom workflow solutions. The company also provides robust connectivity to ensure straight-through processing and specialized technology services aimed at optimizing trading environments. Additionally, MarketAxess delivers vital pre- and post-trade support, covering trade matching, publication, regulatory reporting, and extensive market and reference data for a wide range of financial instruments. Founded in 2000, MarketAxess Holdings Inc. maintains its headquarters in New York, New York.

Industry
Financial - Capital Markets
Sector
Financial Services
Headquarters
US
CEO
Christopher Robert Concannon
Listed since
Nov 5, 2004
Employees
868

Market position

Day range

Current $162.11

52-week range

Current $162.11

Open
$161.92
Previous close
$161.9
Volume
1.21M
1.39× average
Average volume
874.2K
Average daily volume
Market cap
5.71B USD
Beta
0.83
Market reference 1
50-day average
$132.02
+22.79% above average
200-day average
$157.37
+3.01% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
19.09×
P/B (TTM)
4.61×
P/S (TTM)
6.56×
Dividend yield
1.91%

Profitability & efficiency

Gross margin
67.52%
Operating margin
40.51%
Net margin
35.23%

Financial health

Debt / equity
0.14×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends80%62%43%24%Gross margin, FY2021: 75.43%Gross margin, FY2022: 72.28%Gross margin, FY2023: 69.80%Gross margin, FY2024: 70.13%Gross margin, FY2025: 69.88%Operating margin, FY2021: 48.11%Operating margin, FY2022: 45.47%Operating margin, FY2023: 42.44%Operating margin, FY2024: 41.43%Operating margin, FY2025: 41.21%Net margin, FY2021: 36.79%Net margin, FY2022: 34.82%Net margin, FY2023: 34.37%Net margin, FY2024: 33.52%Net margin, FY2025: 29.04%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 75.43%. Gross margin FY2022 72.28%. Gross margin FY2023 69.80%. Gross margin FY2024 70.13%. Gross margin FY2025 69.88%. Operating margin FY2021 48.11%. Operating margin FY2022 45.47%. Operating margin FY2023 42.44%. Operating margin FY2024 41.43%. Operating margin FY2025 41.21%. Net margin FY2021 36.79%. Net margin FY2022 34.82%. Net margin FY2023 34.37%. Net margin FY2024 33.52%. Net margin FY2025 29.04%.

Income trends

Revenue

849.2M USD+3.82%

Operating income

349.96M USD+3.27%

Net income

246.63M USD-10.05%
Income trends across reported periods909.46M USD668.43M USD427.4M USD186.37M USDRevenue, FY2021: 701.03M USDRevenue, FY2022: 718.71M USDRevenue, FY2023: 750.9M USDRevenue, FY2024: 817.92M USDRevenue, FY2025: 849.2M USDOperating income, FY2021: 337.26M USDOperating income, FY2022: 326.81M USDOperating income, FY2023: 318.69M USDOperating income, FY2024: 338.88M USDOperating income, FY2025: 349.96M USDNet income, FY2021: 257.89M USDNet income, FY2022: 250.22M USDNet income, FY2023: 258.06M USDNet income, FY2024: 274.18M USDNet income, FY2025: 246.63M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 701.03M USD. Revenue FY2022 718.71M USD. Revenue FY2023 750.9M USD. Revenue FY2024 817.92M USD. Revenue FY2025 849.2M USD. Operating income FY2021 337.26M USD. Operating income FY2022 326.81M USD. Operating income FY2023 318.69M USD. Operating income FY2024 338.88M USD. Operating income FY2025 349.96M USD. Net income FY2021 257.89M USD. Net income FY2022 250.22M USD. Net income FY2023 258.06M USD. Net income FY2024 274.18M USD. Net income FY2025 246.63M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue849.2M USD817.92M USD750.9M USD718.71M USD701.03M USD
Cost of goods sold255.8M USD244.32M USD226.77M USD199.23M USD172.24M USD
Gross profit593.4M USD573.61M USD524.13M USD519.48M USD528.79M USD
Operating expenses243.44M USD234.73M USD205.44M USD192.67M USD191.53M USD
Interest income24.4M USD26.05M USD22.43M USD5.04M USD401K USD
Interest expense1.49M USD1.6M USD1.98M USD700K USD842K USD
Depreciation and amortization84.22M USD80.46M USD76.41M USD67.15M USD60.25M USD
Operating income349.96M USD338.88M USD318.69M USD326.81M USD337.26M USD
Net income246.63M USD274.18M USD258.06M USD250.22M USD257.89M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
100%
11 beats, 0 misses, 0 met estimates
Average EPS surprise
+5.17%
11 comparable reports
Latest EPS result
1.95
Estimate 1.85 · Beat by 5.41%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.342.081.821.56Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 1.73, estimate 1.7, surprise +1.76%, Beat. Q2 2025, reported May 7, 2025: actual 1.87, estimate 1.81, surprise +3.31%, Beat. Q3 2025, reported Aug 6, 2025: actual 2, estimate 1.94, surprise +3.09%, Beat. Q4 2025, reported Nov 7, 2025: actual 1.84, estimate 1.7, surprise +8.24%, Beat. Q1 2026, reported Feb 6, 2026: actual 1.68, estimate 1.65, surprise +1.82%, Beat. Q2 2026, reported May 7, 2026: actual 2.25, estimate 2.15, surprise +4.65%, Beat. Q3 2026, reported Jul 30, 2026: actual 1.95, estimate 1.85, surprise +5.41%, Beat. Q4 2026, reported Nov 6, 2026: actual —, estimate 1.95, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates242.32M225.91M209.5M193.08MQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 202.4M USD, estimate 212.95M USD, surprise -4.95%, Miss. Q2 2025, reported May 7, 2025: actual 208.58M USD, estimate 210.08M USD, surprise -0.72%, Miss. Q3 2025, reported Aug 6, 2025: actual 224.29M USD, estimate 217.51M USD, surprise +3.12%, Beat. Q4 2025, reported Nov 7, 2025: actual 208.82M USD, estimate 207.39M USD, surprise +0.69%, Beat. Q1 2026, reported Feb 6, 2026: actual 209M USD, estimate 211.74M USD, surprise -1.29%, Miss. Q2 2026, reported May 7, 2026: actual 233M USD, estimate 231.91M USD, surprise +0.47%, Beat. Q3 2026, reported Jul 30, 2026: actual 218M USD, estimate 216.7M USD, surprise +0.60%, Beat. Q4 2026, reported Nov 6, 2026: actual —, estimate 219.8M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$142.5

12.10% downside
Past 12 months12-month forecast

Price history unavailable

High $167Average $142.5Low $128

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$3.04

2025 complete year+15.2% since 2021

2026 partial: $2.34

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Aug 19, 2026

$0.78

Quarterly

Record Aug 19, 2026 · Payment Sep 2, 2026

Dividend

Ex-dividend May 20, 2026

$0.78

Quarterly

Record May 20, 2026 · Payment Jun 3, 2026

Dividend

Ex-dividend Feb 18, 2026

$0.78

Quarterly

Record Feb 18, 2026 · Payment Mar 4, 2026

Dividend

Ex-dividend Nov 19, 2025

$0.76

Quarterly

Record Nov 19, 2025 · Payment Dec 3, 2025

Dividend

Ex-dividend Aug 20, 2025

$0.76

Quarterly

Record Aug 20, 2025 · Payment Sep 3, 2025

Dividend

Ex-dividend May 21, 2025

$0.76

Quarterly

Record May 21, 2025 · Payment Jun 4, 2025

MKTX peers

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