MARKETAXESS HOLDINGS INC (MKTX) Fundamental Analysis & Valuation

NASDAQ:MKTX • US57060D1081

Current stock price

160.13 USD
-3.06 (-1.88%)
At close:
160.13 USD
0 (0%)
After Hours:

This MKTX fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. MKTX Profitability Analysis

1.1 Basic Checks

  • MKTX had positive earnings in the past year.
  • In the past year MKTX had a positive cash flow from operations.
  • Each year in the past 5 years MKTX has been profitable.
  • MKTX had a positive operating cash flow in each of the past 5 years.
MKTX Yearly Net Income VS EBIT VS OCF VS FCFMKTX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

1.2 Ratios

  • MKTX has a Return On Assets of 12.75%. This is amongst the best in the industry. MKTX outperforms 88.28% of its industry peers.
  • The Return On Equity of MKTX (21.53%) is better than 84.52% of its industry peers.
  • MKTX has a Return On Invested Capital of 17.71%. This is amongst the best in the industry. MKTX outperforms 92.05% of its industry peers.
  • MKTX had an Average Return On Invested Capital over the past 3 years of 17.56%. This is significantly above the industry average of 7.30%.
  • The last Return On Invested Capital (17.71%) for MKTX is above the 3 year average (17.56%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 12.75%
ROE 21.53%
ROIC 17.71%
ROA(3y)13.63%
ROA(5y)14.66%
ROE(3y)20.41%
ROE(5y)21.83%
ROIC(3y)17.56%
ROIC(5y)19.48%
MKTX Yearly ROA, ROE, ROICMKTX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • With a decent Profit Margin value of 29.14%, MKTX is doing good in the industry, outperforming 72.38% of the companies in the same industry.
  • In the last couple of years the Profit Margin of MKTX has declined.
  • With a decent Operating Margin value of 40.39%, MKTX is doing good in the industry, outperforming 71.97% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MKTX has declined.
  • With an excellent Gross Margin value of 88.83%, MKTX belongs to the best of the industry, outperforming 93.72% of the companies in the same industry.
  • In the last couple of years the Gross Margin of MKTX has remained more or less at the same level.
Industry RankSector Rank
OM 40.39%
PM (TTM) 29.14%
GM 88.84%
OM growth 3Y-3.83%
OM growth 5Y-5.73%
PM growth 3Y-5.82%
PM growth 5Y-7.7%
GM growth 3Y-1.38%
GM growth 5Y-1.34%
MKTX Yearly Profit, Operating, Gross MarginsMKTX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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8

2. MKTX Health Analysis

2.1 Basic Checks

  • The number of shares outstanding for MKTX has been reduced compared to 1 year ago.
  • MKTX has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, MKTX has a worse debt to assets ratio.
MKTX Yearly Shares OutstandingMKTX Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M
MKTX Yearly Total Debt VS Total AssetsMKTX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.2 Solvency

  • MKTX has an Altman-Z score of 6.87. This indicates that MKTX is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of MKTX (6.87) is better than 92.05% of its industry peers.
  • The Debt to FCF ratio of MKTX is 0.68, which is an excellent value as it means it would take MKTX, only 0.68 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of MKTX (0.68) is better than 90.38% of its industry peers.
  • A Debt/Equity ratio of 0.19 indicates that MKTX is not too dependend on debt financing.
  • MKTX's Debt to Equity ratio of 0.19 is fine compared to the rest of the industry. MKTX outperforms 75.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 0.68
Altman-Z 6.87
ROIC/WACCN/A
WACCN/A
MKTX Yearly LT Debt VS Equity VS FCFMKTX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.3 Liquidity

  • A Current Ratio of 2.19 indicates that MKTX has no problem at all paying its short term obligations.
  • MKTX's Current ratio of 2.19 is fine compared to the rest of the industry. MKTX outperforms 76.15% of its industry peers.
  • MKTX has a Quick Ratio of 2.19. This indicates that MKTX is financially healthy and has no problem in meeting its short term obligations.
  • MKTX's Quick ratio of 2.19 is fine compared to the rest of the industry. MKTX outperforms 76.15% of its industry peers.
Industry RankSector Rank
Current Ratio 2.19
Quick Ratio 2.19
MKTX Yearly Current Assets VS Current LiabilitesMKTX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. MKTX Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 13.07% over the past year.
  • MKTX shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.93% yearly.
  • MKTX shows a small growth in Revenue. In the last year, the Revenue has grown by 3.57%.
  • MKTX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.23% yearly.
EPS 1Y (TTM)13.07%
EPS 3Y7.32%
EPS 5Y0.93%
EPS Q2Q%45.09%
Revenue 1Y (TTM)3.57%
Revenue growth 3Y5.67%
Revenue growth 5Y4.23%
Sales Q2Q%1.48%

3.2 Future

  • The Earnings Per Share is expected to grow by 10.36% on average over the next years. This is quite good.
  • Based on estimates for the next years, MKTX will show a small growth in Revenue. The Revenue will grow by 7.40% on average per year.
EPS Next Y1.78%
EPS Next 2Y5.93%
EPS Next 3Y7.61%
EPS Next 5Y10.36%
Revenue Next Year7.65%
Revenue Next 2Y7.43%
Revenue Next 3Y7.61%
Revenue Next 5Y7.4%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MKTX Yearly Revenue VS EstimatesMKTX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 500M 1B
MKTX Yearly EPS VS EstimatesMKTX Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8 10

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4

4. MKTX Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 19.48, MKTX is valued on the expensive side.
  • MKTX's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.15, MKTX is valued a bit cheaper.
  • Based on the Price/Forward Earnings ratio of 19.14, the valuation of MKTX can be described as rather expensive.
  • The rest of the industry has a similar Price/Forward Earnings ratio as MKTX.
  • When comparing the Price/Forward Earnings ratio of MKTX to the average of the S&P500 Index (22.12), we can say MKTX is valued inline with the index average.
Industry RankSector Rank
PE 19.48
Fwd PE 19.14
MKTX Price Earnings VS Forward Price EarningsMKTX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, MKTX is valued a bit cheaper than the industry average as 79.08% of the companies are valued more expensively.
  • MKTX's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. MKTX is cheaper than 61.51% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.56
EV/EBITDA 12.89
MKTX Per share dataMKTX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of MKTX may justify a higher PE ratio.
PEG (NY)10.96
PEG (5Y)21.05
EPS Next 2Y5.93%
EPS Next 3Y7.61%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. MKTX Dividend Analysis

5.1 Amount

  • MKTX has a Yearly Dividend Yield of 1.91%.
  • Compared to an average industry Dividend Yield of 6.53, MKTX has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, MKTX has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.91%

5.2 History

  • The dividend of MKTX has a limited annual growth rate of 5.62%.
  • MKTX has been paying a dividend for at least 10 years, so it has a reliable track record.
  • MKTX has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.62%
Div Incr Years12
Div Non Decr Years12
MKTX Yearly Dividends per shareMKTX Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • MKTX pays out 46.71% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • MKTX's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP46.71%
EPS Next 2Y5.93%
EPS Next 3Y7.61%
MKTX Yearly Income VS Free CF VS DividendMKTX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
MKTX Dividend Payout.MKTX Dividend Payout, showing the Payout Ratio.MKTX Dividend Payout.PayoutRetained Earnings

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MKTX Fundamentals: All Metrics, Ratios and Statistics

MARKETAXESS HOLDINGS INC

NASDAQ:MKTX (4/27/2026, 8:04:32 PM)

After market: 160.13 0 (0%)

160.13

-3.06 (-1.88%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-06
Earnings (Next)05-07
Inst Owners105.19%
Inst Owner Change0.03%
Ins Owners0.82%
Ins Owner Change2.82%
Market Cap5.69B
Revenue(TTM)846.27M
Net Income(TTM)246.63M
Analysts72.63
Price Target200.56 (25.25%)
Short Float %5.85%
Short Ratio3.75
Dividend
Industry RankSector Rank
Dividend Yield 1.91%
Yearly Dividend3.14
Dividend Growth(5Y)5.62%
DP46.71%
Div Incr Years12
Div Non Decr Years12
Ex-Date02-18
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)27.82%
Min EPS beat(2)6.14%
Max EPS beat(2)49.5%
EPS beat(4)4
Avg EPS beat(4)14.29%
Min EPS beat(4)0.15%
Max EPS beat(4)49.5%
EPS beat(8)8
Avg EPS beat(8)7.52%
EPS beat(12)10
Avg EPS beat(12)6.33%
EPS beat(16)12
Avg EPS beat(16)5.07%
Revenue beat(2)0
Avg Revenue beat(2)-3.77%
Min Revenue beat(2)-5.49%
Max Revenue beat(2)-2.05%
Revenue beat(4)0
Avg Revenue beat(4)-3.06%
Min Revenue beat(4)-5.49%
Max Revenue beat(4)-2.05%
Revenue beat(8)0
Avg Revenue beat(8)-2.83%
Revenue beat(12)0
Avg Revenue beat(12)-2.62%
Revenue beat(16)0
Avg Revenue beat(16)-2.54%
PT rev (1m)1.62%
PT rev (3m)-0.09%
EPS NQ rev (1m)0.81%
EPS NQ rev (3m)5.5%
EPS NY rev (1m)0.5%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)0.26%
Revenue NQ rev (3m)1.07%
Revenue NY rev (1m)0.22%
Revenue NY rev (3m)-0.38%
Valuation
Industry RankSector Rank
PE 19.48
Fwd PE 19.14
P/S 6.73
P/FCF 17.56
P/OCF 14.9
P/B 4.97
P/tB 7.58
EV/EBITDA 12.89
EPS(TTM)8.22
EY5.13%
EPS(NY)8.37
Fwd EY5.22%
FCF(TTM)9.12
FCFY5.69%
OCF(TTM)10.75
OCFY6.71%
SpS23.81
BVpS32.23
TBVpS21.14
PEG (NY)10.96
PEG (5Y)21.05
Graham Number77.2034 (-51.79%)
Profitability
Industry RankSector Rank
ROA 12.75%
ROE 21.53%
ROCE 24.71%
ROIC 17.71%
ROICexc 28.37%
ROICexgc 52.2%
OM 40.39%
PM (TTM) 29.14%
GM 88.84%
FCFM 38.3%
ROA(3y)13.63%
ROA(5y)14.66%
ROE(3y)20.41%
ROE(5y)21.83%
ROIC(3y)17.56%
ROIC(5y)19.48%
ROICexc(3y)27.96%
ROICexc(5y)32.9%
ROICexgc(3y)48.62%
ROICexgc(5y)58.89%
ROCE(3y)24.5%
ROCE(5y)27.18%
ROICexgc growth 3Y-3.52%
ROICexgc growth 5Y-12.99%
ROICexc growth 3Y-7.35%
ROICexc growth 5Y-11.98%
OM growth 3Y-3.83%
OM growth 5Y-5.73%
PM growth 3Y-5.82%
PM growth 5Y-7.7%
GM growth 3Y-1.38%
GM growth 5Y-1.34%
F-Score4
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 0.68
Debt/EBITDA 0.53
Cap/Depr 75.64%
Cap/Sales 6.86%
Interest Coverage 474.12
Cash Conversion 91.3%
Profit Quality 131.42%
Current Ratio 2.19
Quick Ratio 2.19
Altman-Z 6.87
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)75.53%
Cap/Depr(5y)81.18%
Cap/Sales(3y)6.91%
Cap/Sales(5y)7.04%
Profit Quality(3y)120.1%
Profit Quality(5y)108.98%
High Growth Momentum
Growth
EPS 1Y (TTM)13.07%
EPS 3Y7.32%
EPS 5Y0.93%
EPS Q2Q%45.09%
EPS Next Y1.78%
EPS Next 2Y5.93%
EPS Next 3Y7.61%
EPS Next 5Y10.36%
Revenue 1Y (TTM)3.57%
Revenue growth 3Y5.67%
Revenue growth 5Y4.23%
Sales Q2Q%1.48%
Revenue Next Year7.65%
Revenue Next 2Y7.43%
Revenue Next 3Y7.61%
Revenue Next 5Y7.4%
EBIT growth 1Y0.28%
EBIT growth 3Y1.63%
EBIT growth 5Y-1.75%
EBIT Next Year30.04%
EBIT Next 3Y15.3%
EBIT Next 5Y12.89%
FCF growth 1Y-1.38%
FCF growth 3Y10.95%
FCF growth 5Y-2.02%
OCF growth 1Y-0.8%
OCF growth 3Y9.73%
OCF growth 5Y-1.13%

MARKETAXESS HOLDINGS INC / MKTX Fundamental Analysis FAQ

What is the ChartMill fundamental rating of MARKETAXESS HOLDINGS INC (MKTX) stock?

ChartMill assigns a fundamental rating of 7 / 10 to MKTX.


What is the valuation status for MKTX stock?

ChartMill assigns a valuation rating of 4 / 10 to MARKETAXESS HOLDINGS INC (MKTX). This can be considered as Fairly Valued.


Can you provide the profitability details for MARKETAXESS HOLDINGS INC?

MARKETAXESS HOLDINGS INC (MKTX) has a profitability rating of 8 / 10.


What is the financial health of MARKETAXESS HOLDINGS INC (MKTX) stock?

The financial health rating of MARKETAXESS HOLDINGS INC (MKTX) is 8 / 10.


What is the earnings growth outlook for MARKETAXESS HOLDINGS INC?

The Earnings per Share (EPS) of MARKETAXESS HOLDINGS INC (MKTX) is expected to grow by 1.78% in the next year.