Marketaxess Holdings Inc
MKTX Nasdaq· Security Brokers, Dealers & Flotation Companies
Last close · Oct 27, 2026
$165.13
KIRA · Stoqly’s AI analyst, in plain words
- Marketaxess Holdings Inc had $846M of revenue in fiscal 2025, up 3.6% on the year before. Over five years, revenue changed +4.2% a year on average.
- Its operating margin was 40.4%, down 1.3 pts: of every 100 in sales, about 40 is left after running the business.
- Marketaxess Holdings Inc made $247M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 7.9% a year.
- Free cash flow was $374M in fiscal 2025, 44.2% of revenue.
- Marketaxess Holdings Inc returned $420M to shareholders in fiscal 2025, 112% of free cash flow. The diluted share count fell 1.4%.
- Marketaxess Holdings Inc has $300M more cash than debt.
Market cap
$5.8B
P/E
19.5x
Revenue
$846M
Net income
$247M
Free cash flow
$374M
Operating margin
40.4%
Marketaxess Holdings Inc in 30 seconds · fiscal 2025
Are sales growing?
+3.6%
Only a little. Sales grew 3.6% last year.
Does it make a profit?
29.1%
Yes. It keeps 29.1% of every sale as profit.
Does profit turn into cash?
44.2%
Yes. 44.2% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
4 / 7
Mixed. It passes 4 of 7 health tests.
How is the share priced?
19.5x
One share costs 19.5 times its yearly profit per share.
What Marketaxess Holdings Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Legal name
- MARKETAXESS HOLDINGS INC
- CIK
- 0001278021
Marketaxess Holdings Inc · MKTX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $699M | $718M | $753M | $817M | $846M |
| Revenue growth | 1.4% | 2.8% | 4.8% | 8.6% | 3.6% |
| Operating margin | 48.2% | 45.5% | 41.9% | 41.7% | 40.4% |
| Net income | $258M | $250M | $258M | $274M | $247M |
| Net margin | 36.9% | 34.8% | 34.3% | 33.6% | 29.1% |
| Diluted EPS | $6.77 | $6.65 | $6.85 | $7.28 | $6.64 |
| Cash | |||||
| Cash from operations | $282M | $289M | $334M | $385M | $382M |
| Capital expenditure | $17.5M | $13.1M | $9.3M | $9.9M | $8.2M |
| Free cash flow | $265M | $276M | $324M | $375M | $374M |
| FCF margin | 37.9% | 38.4% | 43.1% | 45.9% | 44.2% |
| Share buybacks | $63.2M | $87.5M | $0.0M | $75.5M | $420M |
| Share count change | −0.1% | −1.2% | 0.0% | 0.0% | −1.4% |
| Debt and strength | |||||
| Cash and short-term investments | $507M | $431M | $451M | $544M | $520M |
| Debt incl. finance leases | — | — | — | $0.1M | $220M |
| Shareholders' equity | $1.0B | $1.1B | $1.3B | $1.4B | $1.1B |
| Net debt / EBITDA | — | — | — | −1.3x | −0.7x |
| Interest coverage | 400.5x | 467.0x | 158.9x | 212.9x | 229.9x |
| Returns and quality | |||||
| Return on capital | — | — | — | 30.7% | 27.2% |
| Return on equity | 25.8% | 23.6% | 21.7% | 20.4% | 19.5% |
| Return on tangible equity | 33.5% | 30.2% | 27.5% | 26.0% | 32.8% |
| Piotroski F-score | — | — | — | — | 4 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$1.2M
2 insiders
Of sales under plans
15%
$0.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Marketaxess Holdings Inc · MKTX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $165.13 a share, the company is worth $5.8B: 19.5 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001278021). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.