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MARKETAXESS HOLDINGS INC MKTX

Nasdaq · stock · Security Brokers, Dealers & Flotation Companies · website · IPO 2004-11-05 · LEI

MARKETAXESS HOLDINGS INC statistics & valuation

Market cap$4.0B
P / E16.2×
P / S4.7×
P / B3.5×
P / FCF10.7×
Net margin29.1%
Return on equity21.5%
FCF margin44.2%
Graham number -58.2%$67.89

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($67.89); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
34.10% 37.30% 39.70% 40.10% 43.40% 36.90% 34.80% 34.30% 33.60% 29.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
51.40% 50.20% 48.80% 49.10% 54.40% 48.20% 45.50% 41.90% 41.70% 40.40% 2016201720182019202020212022202320242025
Return on equity (%)
27.00% 28.80% 28.40% 26.60% 31.30% 24.80% 23.10% 20.00% 19.70% 21.50% 2016201720182019202020212022202320242025
Shares outstanding
37.7M 38.0M 37.9M 38.0M 38.1M 38.1M 37.6M 37.9M 37.7M 37.1M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
23.90% 25.50% 24.90% 21.50% 22.50% 16.90% 15.60% 12.80% 15.30% 12.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
22.50% 39.20% 43.20% 49.60% 56.50% 37.90% 38.40% 43.10% 45.90% 44.20% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$3.34 $3.89 $4.57 $5.40 $7.85 $6.77 $6.65 $6.85 $7.28 $6.64 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

MARKETAXESS HOLDINGS INC trades at about 24.5× earnings — below its 10-year norm (10-year range 25.5×–68.9×, median 50.9×).

24.5× 68.9×

Shaded band = 10-year range (25.5×–68.9×); dot = today's 24.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin40.4%41.7%41.9%45.5%48.2%54.4%49.1%48.8%50.2%51.4%
Net margin29.1%33.6%34.3%34.8%36.9%43.4%40.1%39.7%37.3%34.1%
FCF margin44.2%45.9%43.1%38.4%37.9%56.5%49.6%43.2%39.2%22.5%
Return on assets12.7%15.3%12.8%15.6%16.9%22.5%21.5%24.9%25.5%23.9%
Return on equity21.5%19.7%20.0%23.1%24.8%31.3%26.6%28.4%28.8%27.0%

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.