MKTX Stock - MarketAxess Holdings Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $817.10M | $752.55M | $718.30M | $698.95M | $689.13M |
| Gross Profit | $563.35M | $528.62M | $518.53M | $511.96M | $511.18M |
| Gross Margin | 68.9% | 70.2% | 72.2% | 73.2% | 74.2% |
| Operating Income | $340.87M | $315.02M | $326.88M | $337.24M | $374.73M |
| Net Income | $274.18M | $258.06M | $250.22M | $257.89M | $299.38M |
| Net Margin | 33.6% | 34.3% | 34.8% | 36.9% | 43.4% |
| EPS | $7.29 | $6.87 | $6.68 | $6.88 | $8.01 |
MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities. The company, through its Open Trading protocols, executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds. It also offers trading-related products and services, including composite+ pricing and other market data products to assist clients with trading decisions; auto-execution and other execution services for clients requiring specialized workflow solutions; connectivity solutions that facilitate straight-through processing; and technology services to optimize trading environments. In addition, the company provides various pre-and post-trade services, such as trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. MarketAxess Holdings Inc. was incorporated in 2000 and is headquartered in New York, New York.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 20th 2025 | Morgan Stanley | Downgrade | Equal Weight | $209 |
| August 25th 2025 | Argus | Upgrade | Buy | $212 |
| April 8th 2025 | Morgan Stanley | Upgrade | Overweight | - |
| April 10th 2024 | BofA Securities | Initiation | Underperform | $199 |
| January 23rd 2024 | William Blair | Resumed | Outperform | - |
| January 8th 2024 | Barclays | Downgrade | Equal Weight | $291← $246 |
| October 6th 2023 | UBS | Initiation | Buy | $285 |
| June 28th 2023 | Barclays | Initiation | Overweight | $310 |
| March 2nd 2023 | Atlantic Equities | Upgrade | Overweight | $403← $321 |
| October 12th 2022 | Citigroup | Initiation | Buy | $285 |
| August 17th 2022 | Rosenblatt | Initiation | Sell | $231 |
| April 21st 2022 | Compass Point | Upgrade | Neutral | $275 |
| April 11th 2022 | Raymond James | Downgrade | Market Perform | - |
Earnings History & Surprises
MKTXEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 5, 2026 | — | — | — | — |
Q1 2026 | Feb 5, 2026 | $1.72 | — | — | — |
Q4 2025 | Nov 7, 2025 | $1.70 | $1.84 | +8.2% | ✓ BEAT |
Q3 2025 | Aug 6, 2025 | $1.94 | $2.00 | +3.1% | ✓ BEAT |
Q2 2025 | May 7, 2025 | $1.81 | $1.87 | +3.3% | ✓ BEAT |
Q1 2025 | Feb 6, 2025 | $1.70 | $1.73 | +1.8% | ✓ BEAT |
Q4 2024 | Nov 6, 2024 | $1.85 | $1.90 | +2.7% | ✓ BEAT |
Q3 2024 | Aug 6, 2024 | $1.68 | $1.72 | +2.4% | ✓ BEAT |
Q2 2024 | May 7, 2024 | $1.87 | $1.92 | +2.7% | ✓ BEAT |
Q1 2024 | Jan 31, 2024 | $1.73 | $2.09 | +20.8% | ✓ BEAT |
Q4 2023 | Oct 25, 2023 | $1.48 | $1.46 | -1.4% | ✗ MISS |
Q3 2023 | Jul 20, 2023 | $1.57 | $1.59 | +1.3% | ✓ BEAT |
Q2 2023 | Apr 26, 2023 | $1.90 | $1.96 | +3.2% | ✓ BEAT |
Q1 2023 | Jan 25, 2023 | $1.56 | $1.58 | +1.3% | ✓ BEAT |
Q4 2022 | Oct 19, 2022 | $1.50 | $1.58 | +5.3% | ✓ BEAT |
Q3 2022 | Jul 20, 2022 | $1.70 | $1.78 | +4.7% | ✓ BEAT |
Q2 2022 | Apr 20, 2022 | $1.69 | $1.71 | +1.2% | ✓ BEAT |
Q1 2022 | Jan 26, 2022 | $1.42 | $1.37 | -3.5% | ✗ MISS |
Q4 2021 | Oct 20, 2021 | $1.46 | $1.52 | +4.1% | ✓ BEAT |
Q3 2021 | Jul 21, 2021 | $1.69 | $1.77 | +4.7% | ✓ BEAT |
Latest News
Argus Research Maintains Buy on MarketAxess Holdings, Lowers Price Target to $205
➖ NeutralMarketAxess Plans To Enter Into ASR Agreement With JPMorgan Chase Bank, National Association, To Repurchase, In Aggregate, $300M Of MarketAxess Common Stock
📈 PositiveMarketAxess Board Authorizes Repurchase Of Up To $400M Of Its Additional Shares
📈 PositiveMorgan Stanley Downgrades MarketAxess Holdings to Equal-Weight, Lowers Price Target to $209
📉 NegativeBarclays Maintains Equal-Weight on MarketAxess Holdings, Raises Price Target to $188
➖ NeutralKeefe, Bruyette & Woods Maintains Market Perform on MarketAxess Holdings, Raises Price Target to $198
➖ NeutralMarketAxess Holdings Q3 Adj. EPS $1.84 Beats $1.70 Estimate, Sales $208.821M Miss $209.007M Estimate
📈 PositiveMarketAxess Reports $40B October Trading ADV
📈 PositiveBarclays Maintains Equal-Weight on MarketAxess Holdings, Lowers Price Target to $186
➖ NeutralUBS Maintains Buy on MarketAxess Holdings, Lowers Price Target to $240
➖ NeutralMarketAxess Reports $42.7B September Trading ADV, Record U.S. Credit Portfolio Share, 35% EM Block Growth, And 20% Portfolio ADV Gain In Q3 2025
📈 PositiveMorgan Stanley Maintains Overweight on MarketAxess Holdings, Lowers Price Target to $253
➖ NeutralMarketAxess Holdings, Caesars Entertainment, Enphase Energy And The Wendy's Company Will Replace ProPetro Holdings, Xerox Holdings, MP Materials Corp, And Kratos Defense & Security Solutions In The S&P SmallCap 600, Respectively
📈 PositiveAppLovin, Robinhood Markets And S&P Midcap 400 Constituent EMCOR Group Will Replace MarketAxess Holdings, Caesars Entertainment, And Enphase Energy In The S&P 500, Respectively
➖ NeutralCORRECTION: MarketAxess Reports August 2025 Trading Volumes Of $771B, With Growth In Block, Portfolio And Dealer-Initiated Channels Despite Overall 11% YoY Decline
📈 PositiveMarketAxess Reports August 2025 Trading Volumes Of $771B, With Growth In Block, Portfolio And Dealer-Initiated Channels Despite Overall 11% YoY Decline
➖ NeutralArgus Research Upgrades MarketAxess Holdings to Buy, Announces $212 Price Target
📈 PositiveDigitalBridge, Coinbase surge, Root, MarketAxess drift down: week's financials wrap
➖ NeutralFrequently Asked Questions about MKTX
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