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Financial Services - Financial - Capital Markets - NASDAQ - US
$ 207.92
-2.36 %
$ 7.84 B
Market Cap
28.56
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MKTX stock under the worst case scenario is HIDDEN Compared to the current market price of 208 USD, MarketAxess Holdings Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MKTX stock under the base case scenario is HIDDEN Compared to the current market price of 208 USD, MarketAxess Holdings Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MKTX stock under the best case scenario is HIDDEN Compared to the current market price of 208 USD, MarketAxess Holdings Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart MKTX

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$300.0$300.0$280.0$280.0$260.0$260.0$240.0$240.0$220.0$220.0$200.0$200.0$180.0$180.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
817 M REVENUE
8.58%
341 M OPERATING INCOME
8.21%
274 M NET INCOME
6.25%
385 M OPERATING CASH FLOW
15.42%
-86.9 M INVESTING CASH FLOW
44.02%
-201 M FINANCING CASH FLOW
-36.94%
202 M REVENUE
-2.09%
80 M OPERATING INCOME
-8.13%
65.1 M NET INCOME
-8.88%
176 M OPERATING CASH FLOW
85.35%
-11.7 M INVESTING CASH FLOW
71.90%
-44.9 M FINANCING CASH FLOW
-5.78%
Balance Sheet MarketAxess Holdings Inc.
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Current Assets 1.15 B
Cash & Short-Term Investments 649 M
Receivables 342 M
Other Current Assets 155 M
Non-Current Assets 643 M
Long-Term Investments 60.5 M
PP&E 165 M
Other Non-Current Assets 417 M
36.29 %19.11 %8.65 %3.38 %9.25 %23.33 %Total Assets$1.8b
Current Liabilities 260 M
Accounts Payable 37.3 M
Short-Term Debt 0
Other Current Liabilities 223 M
Non-Current Liabilities 141 M
Long-Term Debt 72.7 M
Other Non-Current Liabilities 68.1 M
9.32 %55.55 %18.14 %16.99 %Total Liabilities$400.6m
EFFICIENCY
Earnings Waterfall MarketAxess Holdings Inc.
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Revenue 817 M
Cost Of Revenue 251 M
Gross Profit 567 M
Operating Expenses 222 M
Operating Income 341 M
Other Expenses 66.7 M
Net Income 274 M
900m900m800m800m700m700m600m600m500m500m400m400m300m300m200m200m100m100m00817m(251m)567m(222m)341m(67m)274mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
69.33% GROSS MARGIN
69.33%
41.72% OPERATING MARGIN
41.72%
33.56% NET MARGIN
33.56%
19.74% ROE
19.74%
15.32% ROA
15.32%
16.95% ROIC
16.95%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis MarketAxess Holdings Inc.
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400m400m350m350m300m300m250m250m200m200m150m150m100m100m50m50m0020162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 274 M
Depreciation & Amortization 80.5 M
Capital Expenditures -9.94 M
Stock-Based Compensation 29.7 M
Change in Working Capital -3.53 M
Others 3.11 M
Free Cash Flow 375 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets MarketAxess Holdings Inc.
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Wall Street analysts predict an average 1-year price target for MKTX of $292 , with forecasts ranging from a low of $232 to a high of $325 .
MKTX Lowest Price Target Wall Street Target
232 USD 11.58%
MKTX Average Price Target Wall Street Target
292 USD 40.23%
MKTX Highest Price Target Wall Street Target
325 USD 56.31%
Price
Max Price Target
Min Price Target
Average Price Target
340340320320300300280280260260240240220220200200180180May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
0.33% DIVIDEND YIELD
0.76 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
3.003.002.502.502.002.001.501.501.001.000.500.500.000.000.20.260.330.420.510.60.660.70.720.740.760.20.260.330.420.510.60.660.70.720.740.20.260.330.420.510.60.660.70.720.740.20.800.261.040.331.320.421.680.512.040.62.400.662.640.72.800.722.880.742.960.762015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 11
6. Ownership
Insider Ownership MarketAxess Holdings Inc.
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
13.6 M USD 2
6-9 MONTHS
1.03 M USD 4
9-12 MONTHS
99.7 K USD 1
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
MarketAxess Announces Trading Volume Statistics for March and First Quarter 2025 NEW YORK--(BUSINESS WIRE)--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for March 2025 and the first quarter ended March 31, 2025.1 Chris Concannon, CEO of MarketAxess, commented: “Our record trading results in March, combined with the progress we are seeing from the enhancements we have made to our portfolio trading solutio. businesswire.com - 2 weeks ago
Compelling Reasons to Hold on to MarketAxess Stock Right Now MKTX remains well-poised for growth on the back of improved trading volumes, a well-established Open Trading platform and sufficient cash generation abilities. zacks.com - 3 weeks ago
SCHW vs. MKTX: Which Stock Is the Better Value Option? Investors interested in stocks from the Financial - Investment Bank sector have probably already heard of The Charles Schwab Corporation (SCHW) and MarketAxess (MKTX). But which of these two companies is the best option for those looking for undervalued stocks? zacks.com - 1 month ago
MarketAxess Announces Trading Volume Statistics for February 2025 NEW YORK--(BUSINESS WIRE)--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for February 2025.1 Chris Concannon, CEO of MarketAxess, commented: “While we are not satisfied with our February performance in U.S. credit, we are seeing the benefit of the enhancements we have made to our portfolio trading solution, and the launch of. businesswire.com - 1 month ago
Top 50 High-Quality Dividend Stocks For March 2025 I track 50 high-quality dividend stocks, updating their valuations daily to identify Strong Buy, Buy, Hold, and Trim opportunities based on historical free cash flow trends. Today, I will highlight 9 new stocks from the list that appear to be attractively positioned. I will present 3 unique valuations for each of these stocks. seekingalpha.com - 1 month ago
MarketAxess to Participate in the Raymond James 2025 Institutional Investors Conference NEW YORK--(BUSINESS WIRE)--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced that Chris Concannon, Chief Executive Officer, will participate in the Raymond James 2025 Institutional Investors Conference on March 3, 2025. Mr. Concannon will participate in a fireside chat at 4:35 p.m. ET. The live webcast and replay for the fireside chat will be available on the events and presentations section of the Market. businesswire.com - 1 month ago
17 Upcoming Dividend Increases, Including 3 Kings This week's dividend increases feature three Dividend Kings: Archer-Daniels-Midland, Consolidated Edison, and Black Hills Corporation, with streaks of 50, 51, and 55 years, respectively. Consistently rising dividends indicate strong cash flow and financial stability, making such companies attractive long-term investments that often outperform benchmarks. My strategy focuses on stocks with consistent dividend growth and market outperformance, using data from U.S. Dividend Champions and NASDAQ. seekingalpha.com - 2 months ago
MarketAxess Holdings Inc. (MKTX) Q4 2024 Earnings Call Transcript MarketAxess Holdings Inc. (NASDAQ:MKTX ) Q4 2024 Earnings Conference Call February 6, 2025 10:30 AM ET Company Participants Steve Davidson – Head of Investor Relations Chris Concannon – Chief Executive Officer Rich Schiffman – Global Head of Trading Solutions Ilene Fiszel Bieler – Chief Financial Officer Conference Call Participants Chris Allen – Citi Dan Fannon – Jefferies Benjamin Budish – Barclays Kyle Voigt – KBW Alex Blostein – Goldman Sachs Jeff Schmitt – William Blair Eli Abboud – Bank of America Michael Cyprys – Morgan Stanley Simon Clinch – Redburn Atlantic Operator Ladies and gentlemen, thank you for standing by. Welcome to the MarketAxess Fourth Quarter and Full Year 2024 Earnings Conference Call. seekingalpha.com - 2 months ago
MarketAxess Q4 Earnings Beat on Strong Emerging Markets Volumes MKTX's fourth-quarter results reflect solid trading volumes in Eurobonds and emerging markets, driving commission revenues. Elevated marketing and advertising expenses partially offset the results. zacks.com - 2 months ago
MarketAxess' fourth quarter profit falls on hit from Treasury investments Bond trading platform MarketAxess Holdings reported a 6% decline in fourth-quarter profit on Thursday, partly due to an unrealized loss on its U.S. Treasury investments. reuters.com - 2 months ago
MarketAxess (MKTX) Q4 Earnings Top Estimates MarketAxess (MKTX) came out with quarterly earnings of $1.73 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.84 per share a year ago. zacks.com - 2 months ago
MarketAxess Reports Fourth Quarter and Full Year 2024 Financial Results NEW YORK--(BUSINESS WIRE)--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced financial results for the fourth quarter and full year ended December 31, 2024. 4Q24 select financial and operational highlights* Total revenues of $202.4 million, including an increase of approximately $1.0 million from the impact of foreign currency fluctuations. 15% growth in emerging markets and Eurobonds commission revenue,. businesswire.com - 2 months ago
8. Profile Summary

MarketAxess Holdings Inc. MKTX

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COUNTRY US
INDUSTRY Financial - Capital Markets
MARKET CAP $ 7.84 B
Dividend Yield 0.33%
Description 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.
Contact 55 Hudson Yards, New York, NY, 10001 https://www.marketaxess.com
IPO Date Nov. 5, 2004
Employees 891
Officers Mr. Stephen C. Davidson Head of Investor Relations Ms. Julie Sheffet Chief Human Resources Officer Ms. Ilene Fiszel Bieler Chief Financial Officer Mr. Kevin M. McPherson Chief Revenue Officer Mr. Naineshkumar Shantilal Panchal Chief Information Officer Mr. Michael Robert Cianciulli Head of External Reporting & Interim Principal Accounting Officer Mr. Scott Pintoff J.D. General Counsel & Corporate Secretary Mr. Christopher Robert Concannon J.D. Chief Executive Officer & Director Mr. Christophe Pierre Daniel Roupie Head of EMEA & APAC Mr. Richard J. Schiffman Global Head of Trading Solutions