Symbols / MKTX Stock $163.19 -0.26% MarketAxess Holdings Inc.

Financial Services • Capital Markets • United States • NMS
MKTX (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Capital Markets
CEO Mr. Christopher Robert Concannon J.D.
Exch · Country NMS · United States
Market Cap 5.80B
Enterprise Value 5.48B
Income 246.63M
Sales 846.27M
FCF (ttm) 224.41M
Book/sh 32.02
Cash/sh 17.45
Employees 868
Insider 10d
IPO Nov 05, 2004
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 45.78%
P/E 24.58
Forward P/E 17.92
PEG 1.36
P/S 6.85
P/B 5.10
P/C
EV/EBITDA 12.93
EV/Sales 6.47
Quick Ratio 2.81
Current Ratio 3.35
Debt/Eq 24.60
LT Debt/Eq
EPS (ttm) 6.64
EPS next Y 9.11
EPS Growth 45.30%
Revenue Growth 3.50%
EPS Gr Q/Q 41.60%
Rev Gr Q/Q
Earnings (next) 2026-05-07
Earnings (prior) 2026-02-06
ROA 11.64%
ROE 19.39%
ROIC
Gross Margin 62.02%
Oper. Margin 36.82%
Profit Margin 29.14%
Shs Outstand 35.55M
Shs Float 32.28M
Insider Own 2.50%
Instit Own 105.90%
Short Float 6.80%
Short Ratio 5.02
Short Interest 2.09M
52W High 232.84
vs 52W High -29.91%
52W Low 156.17
vs 52W Low 4.50%
Beta 1.00
Impl. Vol. 53.01%
Rel Volume 0.76
Avg Volume 512.33K
Volume 386.83K
Target (mean) $195.45
Tgt Median $189.00
Tgt Low $172.00
Tgt High $250.00
# Analysts 11
Recom Buy
Prev Close $163.61
Price $163.19
Change -0.26%
About

MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S. government bonds, and other fixed-income securities; and executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds through its Open Trading protocols. It also provides automated and algorithmic trading solutions, such as X-Pro, a trading platform to combine trading protocols with its proprietary data and pre-trade analytics; and integrated and actionable data offerings, including CP+ and Axess All, a real-time pricing engine, including Auto-X and portfolio trading. In addition, the company offers various pre-and post-trade services, such as processing, trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. The company was incorporated in 2000 and is headquartered in New York, New York.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$163.19
Low
$172.00
High
$250.00
Mean
$195.45

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-17 down Argus Research Buy → Hold
2026-02-09 main Barclays Equal-Weight → Equal-Weight $178
2026-01-15 main Morgan Stanley Equal-Weight → Equal-Weight $195
2026-01-14 main Piper Sandler Neutral → Neutral $175
2026-01-09 main UBS Buy → Buy $225
2026-01-08 main Barclays Equal-Weight → Equal-Weight $182
2025-12-22 main Morgan Stanley Equal-Weight → Equal-Weight $204
2025-12-17 main Argus Research Buy → Buy $205
2025-11-20 down Morgan Stanley Overweight → Equal-Weight $209
2025-11-10 main Barclays Equal-Weight → Equal-Weight $188
2025-11-10 main Keefe, Bruyette & Woods Market Perform → Market Perform $198
2025-10-08 main Barclays Equal-Weight → Equal-Weight $186
2025-10-07 main UBS Buy → Buy $240
2025-10-01 main Morgan Stanley Overweight → Overweight $253
2025-08-25 up Argus Research Hold → Buy $212
2025-08-11 main Jefferies Hold → Hold $208
2025-08-07 main UBS Buy → Buy $255
2025-08-07 main Barclays Equal-Weight → Equal-Weight $200
2025-07-15 main Piper Sandler Neutral → Neutral $204
2025-07-15 main Morgan Stanley Overweight → Overweight $274
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-10 PINTOFF SCOTT General Counsel 100 $171.96 $17,196
2026-03-10 PINTOFF SCOTT General Counsel 100 $184.93 $18,493
2026-02-27 SCHICIANO KENNETH T Director 259 $0.00 $0
2026-02-27 CIFU DOUGLAS A Director 259 $0.00 $0
2026-02-13 MCPHERSON KEVIN M Officer 5,355 $0.00 $0
2026-02-13 PANCHAL NAINESHKUMAR SHANTILAL Chief Technology Officer 3,633 $0.00 $0
2026-02-13 FISZEL BIELER ILENE Chief Financial Officer 5,005 $0.00 $0
2026-02-13 MIRWANI NITIN A Officer 1,766 $0.00 $0
2026-02-13 CONCANNON CHRISTOPHER R Chief Executive Officer 8,284 $0.00 $0
2026-02-13 PINTOFF SCOTT General Counsel 3,680 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
846.27
+3.57%
817.10
+8.58%
752.55
+4.77%
718.30
Operating Revenue
846.27
+3.57%
817.10
+8.58%
752.55
+4.77%
718.30
Cost Of Revenue
343.41
+5.37%
325.91
+13.66%
286.73
+13.45%
252.73
Reconciled Cost Of Revenue
335.89
+5.21%
319.27
+13.67%
280.88
+13.70%
247.02
Gross Profit
502.85
+2.38%
491.19
+5.45%
465.82
+0.05%
465.57
Operating Expense
161.02
+7.12%
150.32
-0.32%
150.80
+8.73%
138.69
Selling General And Administration
84.32
+10.23%
76.49
-4.67%
80.24
+3.88%
77.25
Selling And Marketing Expense
11.20
-4.35%
11.71
+6.01%
11.05
+10.74%
9.98
General And Administrative Expense
73.11
+12.86%
64.78
-6.38%
69.19
+2.86%
67.27
Other Gand A
58.08
+15.94%
50.09
-8.89%
54.98
+3.44%
53.15
Other Operating Expenses
72.17
+14.91%
62.80
+18.57%
52.96
Total Expenses
504.43
+5.92%
476.23
+8.84%
437.53
+11.78%
391.42
Operating Income
341.84
+0.28%
340.87
+8.21%
315.02
-3.63%
326.88
Total Operating Income As Reported
341.84
+0.28%
340.87
+8.21%
315.02
-3.63%
326.88
EBITDA
452.70
+2.28%
442.61
+7.67%
411.09
+1.22%
406.14
Normalized EBITDA
452.70
+2.28%
442.61
+7.67%
411.09
+1.22%
406.14
Reconciled Depreciation
84.22
+4.67%
80.46
+5.30%
76.41
+13.78%
67.15
EBIT
368.48
+1.75%
362.15
+8.21%
334.68
-1.27%
338.99
Total Unusual Items
Total Unusual Items Excluding Goodwill
Net Income
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Pretax Income
367.00
+1.79%
360.55
+8.37%
332.70
-1.65%
338.29
Net Non Operating Interest Income Expense
22.91
-6.28%
24.45
+19.58%
20.44
+371.01%
4.34
Interest Expense Non Operating
1.49
-7.12%
1.60
-19.26%
1.98
+183.29%
0.70
Net Interest Income
22.91
-6.28%
24.45
+19.58%
20.44
+371.01%
4.34
Interest Expense
1.49
-7.12%
1.60
-19.26%
1.98
+183.29%
0.70
Interest Income Non Operating
24.40
-6.33%
26.05
+16.15%
22.43
+344.94%
5.04
Interest Income
24.40
-6.33%
26.05
+16.15%
22.43
+344.94%
5.04
Other Income Expense
2.25
+147.12%
-4.77
-72.73%
-2.76
-139.04%
7.07
Other Non Operating Income Expenses
1.79
+129.04%
-6.16
-76.32%
-3.50
-158.80%
5.95
Gain On Sale Of Security
Tax Provision
120.08
+39.04%
86.36
+15.70%
74.64
-15.24%
88.06
Tax Rate For Calcs
0.00
+36.60%
0.00
+6.94%
0.00
-13.95%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
246.91
-9.95%
274.18
+6.25%
258.06
+3.13%
250.22
Net Income From Continuing Operation Net Minority Interest
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Net Income From Continuing And Discontinued Operation
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Net Income Continuous Operations
246.91
-9.95%
274.18
+6.25%
258.06
+3.13%
250.22
Minority Interests
-0.28
0.00
0.00
Normalized Income
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Net Income Common Stockholders
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Diluted EPS
6.64
-8.79%
7.28
+6.28%
6.85
+3.01%
6.65
Basic EPS
6.66
-8.64%
7.29
+6.11%
6.87
+2.84%
6.68
Basic Average Shares
37.06
-1.45%
37.60
+0.14%
37.55
+0.21%
37.47
Diluted Average Shares
37.14
-1.42%
37.67
+0.05%
37.65
+0.03%
37.64
Diluted NI Availto Com Stockholders
246.63
-10.05%
274.18
+6.25%
258.06
+3.13%
250.22
Depreciation Amortization Depletion Income Statement
76.70
+3.89%
73.82
+4.63%
70.56
+14.83%
61.45
Depreciation And Amortization In Income Statement
76.70
+3.89%
73.82
+4.63%
70.56
+14.83%
61.45
Earnings From Equity Interest
0.46
-67.24%
1.40
+89.80%
0.73
-34.72%
1.13
Rent And Landing Fees
15.04
+2.37%
14.69
+3.33%
14.22
+0.67%
14.12
Rent Expense Supplemental
15.04
+2.37%
14.69
+3.33%
14.22
+0.67%
14.12
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,934.89
+8.14%
1,789.22
-11.21%
2,015.07
+25.33%
1,607.78
Current Assets
1,158.66
+1.11%
1,145.93
-14.81%
1,345.14
+25.66%
1,070.48
Cash Cash Equivalents And Short Term Investments
519.73
-19.95%
649.25
+24.32%
522.25
+12.37%
464.75
Cash And Cash Equivalents
519.73
-4.54%
544.48
+20.65%
451.28
+4.77%
430.75
Other Short Term Investments
104.78
+47.64%
70.97
+108.72%
34.00
Receivables
482.98
+41.25%
341.92
-48.40%
662.62
+42.24%
465.86
Accounts Receivable
100.99
+9.96%
91.84
+2.23%
89.84
+14.52%
78.45
Gross Accounts Receivable
101.73
+9.59%
92.83
+2.67%
90.42
+14.39%
79.04
Allowance For Doubtful Accounts Receivable
-0.74
+24.34%
-0.98
-70.19%
-0.58
+2.20%
-0.59
Other Receivables
381.99
+52.75%
250.08
-56.34%
572.78
+47.85%
387.41
Prepaid Assets
107.22
-0.40%
107.65
-6.51%
115.15
+29.50%
88.92
Restricted Cash
48.72
+3.43%
47.11
+4.40%
45.12
-11.43%
50.95
Total Non Current Assets
776.23
+20.67%
643.28
-3.98%
669.92
+24.68%
537.30
Net PPE
164.28
-0.69%
165.43
-0.17%
165.72
-0.39%
166.36
Gross PPE
511.04
+10.68%
461.73
+11.76%
413.14
+12.07%
368.63
Accumulated Depreciation
-346.75
-17.03%
-296.30
-19.75%
-247.42
-22.32%
-202.27
Properties
0.00
0.00
0.00
0.00
Buildings And Improvements
51.85
-10.80%
58.13
-7.79%
63.05
-4.63%
66.11
Machinery Furniture Equipment
427.25
+14.79%
372.21
+16.73%
318.88
+17.29%
271.87
Leases
31.94
+1.76%
31.39
+0.55%
31.21
+1.81%
30.66
Goodwill And Other Intangible Assets
394.30
+17.78%
334.78
-5.91%
355.81
+40.72%
252.85
Goodwill
283.67
+19.84%
236.71
+0.00%
236.71
+52.92%
154.79
Other Intangible Assets
110.63
+12.80%
98.08
-17.66%
119.11
+21.46%
98.06
Investments And Advances
170.68
+182.19%
60.48
-5.34%
63.89
+28.32%
49.79
Other Non Current Assets
46.97
-43.12%
82.58
-2.27%
84.50
+23.74%
68.29
Total Liabilities Net Minority Interest
776.63
+93.89%
400.56
-44.53%
722.10
+37.10%
526.68
Current Liabilities
417.81
+60.79%
259.85
-55.38%
582.30
+50.19%
387.70
Payables And Accrued Expenses
417.81
+60.79%
259.85
-55.38%
582.30
+50.19%
387.70
Payables
417.81
+60.79%
259.85
-55.38%
582.30
+50.19%
387.70
Accounts Payable
42.58
+14.11%
37.32
+0.83%
37.01
-33.02%
55.26
Other Payable
325.96
+48.95%
218.84
-59.28%
537.40
+76.78%
303.99
Current Accrued Expenses
56.30
Employee Benefits
73.88
+8.56%
68.05
+13.19%
60.12
+6.79%
56.30
Total Tax Payable
49.27
+1237.69%
3.68
-53.33%
7.89
-72.26%
28.45
Total Non Current Liabilities Net Minority Interest
358.82
+155.01%
140.71
+0.65%
139.80
+0.59%
138.98
Long Term Debt And Capital Lease Obligation
284.94
+292.18%
72.65
-8.81%
79.68
-3.63%
82.68
Long Term Debt
220.00
Long Term Capital Lease Obligation
64.94
-10.62%
72.65
-8.81%
79.68
-3.63%
82.68
Stockholders Equity
1,145.67
-17.50%
1,388.66
+7.40%
1,292.96
+19.60%
1,081.09
Common Stock Equity
1,145.67
-17.50%
1,388.66
+7.40%
1,292.96
+19.60%
1,081.09
Capital Stock
0.12
+0.00%
0.12
+0.00%
0.12
+0.00%
0.12
Common Stock
0.12
+0.00%
0.12
+0.00%
0.12
+0.00%
0.12
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
41.12
+0.25%
41.02
+0.19%
40.94
+0.05%
40.92
Ordinary Shares Number
35.78
-4.97%
37.65
-0.67%
37.90
+0.67%
37.65
Treasury Shares Number
5.34
+58.40%
3.37
+10.95%
3.04
-7.02%
3.27
Additional Paid In Capital
305.92
-12.77%
350.70
+5.22%
333.29
-3.52%
345.47
Retained Earnings
1,538.75
+9.45%
1,405.90
+13.00%
1,244.22
+12.95%
1,101.53
Gains Losses Not Affecting Retained Earnings
-4.36
+87.43%
-34.70
-42.38%
-24.37
+35.35%
-37.70
Treasury Stock
694.76
+108.41%
333.37
+28.07%
260.30
-20.72%
328.33
Minority Interest
12.59
0.00
Other Equity Adjustments
-4.36
+87.43%
-34.70
-42.38%
-24.37
+35.35%
-37.70
Total Equity Gross Minority Interest
1,158.26
-16.59%
1,388.66
+7.40%
1,292.96
+19.60%
1,081.09
Total Capitalization
1,365.67
-1.66%
1,388.66
+7.40%
1,292.96
+19.60%
1,081.09
Working Capital
740.85
-16.39%
886.09
+16.16%
762.84
+11.73%
682.77
Invested Capital
1,365.67
-1.66%
1,388.66
+7.40%
1,292.96
+19.60%
1,081.09
Total Debt
284.94
+292.18%
72.65
-8.81%
79.68
-3.63%
82.68
Capital Lease Obligations
64.94
-10.62%
72.65
-8.81%
79.68
-3.63%
82.68
Net Tangible Assets
751.37
-28.70%
1,053.88
+12.46%
937.15
+13.15%
828.24
Tangible Book Value
751.37
-28.70%
1,053.88
+12.46%
937.15
+13.15%
828.24
Preferred Shares Number
0.04
+0.00%
0.04
+0.00%
0.04
+0.00%
0.04
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
382.14
-0.80%
385.24
+15.42%
333.77
+15.40%
289.23
Cash Flow From Continuing Operating Activities
382.14
-0.80%
385.24
+15.42%
333.77
+15.40%
289.23
Net Income From Continuing Operations
246.91
-9.95%
274.18
+6.25%
258.06
+3.13%
250.22
Depreciation Amortization Depletion
84.22
+4.67%
80.46
+5.30%
76.41
+13.78%
67.15
Depreciation
84.22
+4.67%
80.46
+5.30%
76.41
+13.78%
67.15
Depreciation And Amortization
84.22
+4.67%
80.46
+5.30%
76.41
+13.78%
67.15
Other Non Cash Items
-1.62
-123.00%
7.04
+326.21%
-3.11
-660.90%
0.56
Stock Based Compensation
30.92
+4.16%
29.68
+1.69%
29.19
-2.26%
29.86
Deferred Tax
22.02
+667.79%
-3.88
+33.31%
-5.82
+11.18%
-6.55
Deferred Income Tax
22.02
+667.79%
-3.88
+33.31%
-5.82
+11.18%
-6.55
Operating Gains Losses
3.58
+180.72%
1.28
-72.95%
4.72
+153.72%
-8.78
Net Foreign Currency Exchange Gain Loss
3.58
+180.72%
1.28
-72.95%
4.72
+153.72%
-8.78
Change In Working Capital
-3.89
-10.28%
-3.53
+86.25%
-25.68
+40.61%
-43.24
Change In Receivables
-125.42
-139.64%
316.36
+268.13%
-188.16
-199.78%
-62.77
Changes In Account Receivables
-125.42
-139.64%
316.36
+268.13%
-188.16
-199.78%
-62.77
Change In Prepaid Assets
0.82
-18.83%
1.01
+108.48%
-11.90
-180.02%
-4.25
Change In Payables And Accrued Expense
129.88
+141.77%
-310.92
-249.87%
207.47
+166.44%
77.87
Change In Accrued Expense
3.19
-54.67%
7.05
+380.83%
1.47
+142.90%
-3.42
Change In Payable
126.68
+139.84%
-317.97
-254.35%
206.00
+153.43%
81.28
Change In Account Payable
103.17
+132.79%
-314.69
-242.59%
220.69
+156.46%
86.05
Change In Other Working Capital
-0.36
+42.19%
-0.62
+43.70%
-1.10
-160.84%
1.81
Change In Other Current Assets
0.21
+132.75%
-0.63
+97.51%
-25.25
+49.02%
-49.53
Change In Other Current Liabilities
-9.02
-3.31%
-8.73
-29.62%
-6.74
-5.68%
-6.37
Investing Cash Flow
-96.93
-11.49%
-86.94
+44.02%
-155.29
-80.00%
-86.27
Cash Flow From Continuing Investing Activities
-96.93
-11.49%
-86.94
+44.02%
-155.29
-80.00%
-86.27
Net PPE Purchase And Sale
-8.20
+17.48%
-9.94
-6.61%
-9.33
+29.04%
-13.14
Purchase Of PPE
-8.20
+17.48%
-9.94
-6.61%
-9.33
+29.04%
-13.14
Capital Expenditure
-58.01
-2.56%
-56.56
-7.85%
-52.45
-1.11%
-51.87
Capital Expenditure Reported
-49.81
-6.84%
-46.62
-8.12%
-43.12
-11.34%
-38.73
Net Investment Purchase And Sale
-2.40
+92.10%
-30.37
-24.64%
-24.37
0.00
Purchase Of Investment
-12.97
+69.71%
-42.81
-48.55%
-28.82
0.00
Sale Of Investment
10.57
-15.03%
12.44
+179.42%
4.45
0.00
Net Business Purchase And Sale
-36.52
0.00
+100.00%
-78.48
-128.13%
-34.40
Purchase Of Business
-36.52
0.00
+100.00%
-78.48
-128.13%
-34.40
Financing Cash Flow
-332.37
-65.05%
-201.38
-36.94%
-147.06
+39.33%
-242.38
Cash Flow From Continuing Financing Activities
-332.37
-65.05%
-201.38
-36.94%
-147.06
+39.33%
-242.38
Net Issuance Payments Of Debt
220.00
0.00
0.00
0.00
Issuance Of Debt
220.00
-36.22%
344.93
+178.18%
124.00
+24.00%
100.00
Repayment Of Debt
0.00
+100.00%
-344.93
-178.18%
-124.00
-24.00%
-100.00
Long Term Debt Issuance
220.00
-36.22%
344.93
+178.18%
124.00
Long Term Debt Payments
0.00
+100.00%
-344.93
-178.18%
-124.00
Net Long Term Debt Issuance
220.00
0.00
0.00
Short Term Debt Issuance
344.93
+178.18%
124.00
+24.00%
100.00
Short Term Debt Payments
-344.93
-178.18%
-124.00
-24.00%
-100.00
Net Short Term Debt Issuance
0.00
0.00
0.00
Net Common Stock Issuance
-420.01
-456.50%
-75.47
0.00
+100.00%
-87.54
Common Stock Payments
-420.01
-456.50%
-75.47
0.00
+100.00%
-87.54
Common Stock Dividend Paid
-115.20
-2.22%
-112.70
-2.77%
-109.66
-3.51%
-105.94
Cash Dividends Paid
-115.20
-2.22%
-112.70
-2.77%
-109.66
-3.51%
-105.94
Repurchase Of Capital Stock
-420.01
-456.50%
-75.47
0.00
+100.00%
-87.54
Proceeds From Stock Option Exercised
0.00
-100.00%
2.99
+217.87%
0.94
+39.88%
0.67
Net Other Financing Charges
-17.16
-5.93%
-16.19
+57.76%
-38.34
+22.65%
-49.57
Changes In Cash
-47.16
-148.65%
96.92
+208.48%
31.42
+179.71%
-39.42
Effect Of Exchange Rate Changes
22.55
+377.08%
-8.14
-207.25%
7.59
+156.27%
-13.48
Beginning Cash Position
700.46
+14.52%
611.67
+6.81%
572.66
-8.46%
625.57
End Cash Position
675.85
-3.51%
700.46
+14.52%
611.67
+6.81%
572.66
Free Cash Flow
324.12
-1.38%
328.67
+16.83%
281.32
+18.52%
237.36
Interest Paid Supplemental Data
0.72
-58.01%
1.72
-8.18%
1.87
+186.81%
0.65
Income Tax Paid Supplemental Data
62.83
-35.18%
96.93
+2.23%
94.81
+6.92%
88.68
Change In Income Tax Payable
23.51
+815.90%
-3.28
+77.65%
-14.69
-208.12%
-4.77
Change In Tax Payable
23.51
+815.90%
-3.28
+77.65%
-14.69
-208.12%
-4.77
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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