Added to YB: 2026-02-17
Pitch date: 2026-02-14
MKTX [neutral]
MarketAxess Holdings Inc.
+1.12%
current return
Author Info
The Diversified Fins Analyst is a former sellside & buyside equities analyst focused on diversified financials (exchanges, online brokers, trading companies, etc.). Sign up for the newsletter.
Company Info
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.
Market Cap
$6.7B
Pitch Price
$178.70
Price Target
N/A
Dividend
1.74%
EV/EBITDA
14.70
P/E
27.01
EV/Sales
7.62
Sector
Capital Markets
Category
growth
MarketAxess Holdings Inc. (MKTX) 4Q25 Earnings Review
MKTX (earnings): Q4 rev $209M (+3% YoY), EPS $1.69 beat by 3% on lower taxes. Operating margin 36.8% (-270bps YoY) on 8% expense growth. Credit fee/million -8% YoY to $138. Guides mid-single digit rev growth, $530M-$545M expenses. Block trading +29%, portfolio trading share +270bps. New protocols (closing auction, Mid-X) ramping. 3yr plan targets 8-9% rev CAGR, +100bps margin expansion. Execution risk if 2026 disappoints.
Read full article (5 min)