profit from every $100 of sales.
$0$100
MarketAxess Holdings
$165.08-0.36% today
-2.4% in 1 year
1-year low $109.091-year high $193.61
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2020 to 2025.
0%20% a year
You pay $23.56 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What MarketAxess Holdings sold, what it kept, and what it did with the cash.
Sales went from $718 million in 2022 to $846 million in 2025, with $247 million of profit last year.
SalesProfit
MarketAxess Holdings handed back more cash to shareholders than it generated last year.
Buybacks $420M$115M
Free cash flow 2025$324M
Bought back its own shares$420M
Paid as dividends$115M
Cash vs. debt$520M vs. $285M
MarketAxess Holdings vs. similar companies
MarketAxess Holdings grows the slowest of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| MarketAxess Holdings | 23.6× · Fair price | ||
 Raymond James Financial | 15.1× · Fair price | ||
 Tradeweb Markets | 34.8× · Expensive | ||
 Nomura Holdings | 12.9× · Cheap | ||
 LPL Financial Holdings | 27.8× · Fair price |
AI analysis
An AI analyst reads MarketAxess Holdings's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 689 | 699 | 718 | 753 | 817 | 846 | |
| – | – | 466 | 466 | 491 | 503 | |
| 375 | 337 | 327 | 315 | 341 | 342 | |
| 411 | 388 | 406 | 411 | 443 | 453 | |
| 299 | 258 | 250 | 258 | 274 | 247 | |
| 7.85 | 6.77 | 6.65 | 6.85 | 7.28 | 6.64 | |
| – | – | 64.8% | 61.9% | 60.1% | 59.4% | |
| 54.4% | 48.2% | 45.5% | 41.9% | 41.7% | 40.4% | |
| 43.4% | 36.9% | 34.8% | 34.3% | 33.6% | 29.1% |
Balance sheet
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Total assets | 1,331 | 1,530 | 1,608 | 2,015 | 1,789 | 1,935 |
| Cash | 461 | 507 | 431 | 451 | 544 | 520 |
| Total debt | – | – | 83 | 80 | 73 | 285 |
| Total liabilities | 376 | 489 | 527 | 722 | 401 | 777 |
| 955 | 1,041 | 1,081 | 1,293 | 1,389 | 1,146 | |
| 38 | 38 | 38 | 38 | 38 | 37 | |
| 31.1% | 25.4% | 23.0% | 19.3% | 19.6% | 20.3% | |
| 31.3% | 24.8% | 23.1% | 20.0% | 19.7% | 21.5% |
Cash flow
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 404 | 282 | 289 | 334 | 385 | 382 | |
| – | – | 52 | 52 | 57 | 58 | |
| – | – | 237 | 281 | 329 | 324 | |
| Dividends paid | – | – | 106 | 110 | 113 | 115 |
| 16 | 63 | 88 | 0 | 75 | 420 | |
| 26 | 27 | 30 | 29 | 30 | 31 |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 23.6×
- 20.1×
- –
- 4.1×
- 6.9×
- 4.2%
- 2.2%
Profitability
- 29.1%
- 12.9%
- 19.8%
- 24.3%
- 13.4%
Growth
- +4.2%
- −3.3%
- +4.8%
- −0.5%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 19%of 749
Top 21%of 603
Bottom 26%of 881
Bottom 33%of 884
Top 45%of 933
What analysts expect
- Average price target
- $195.60
- Range
- $175.00 – $225.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 7, 2026 | 2.25 | 2.15 | +4.7% |
| Feb 6, 2026 | 1.68 | 1.65 | +1.8% |
| Nov 7, 2025 | 1.84 | 1.70 | +8.2% |
| Aug 6, 2025 | 2.00 | 1.94 | +3.1% |
| May 7, 2025 | 1.87 | 1.81 | +3.3% |
| Feb 6, 2025 | 1.73 | 1.70 | +1.8% |
| Nov 6, 2024 | 1.90 | 1.85 | +2.7% |
| Aug 6, 2024 | 1.72 | 1.68 | +2.4% |
2.2%of the share price, paid each year
On $1,000 invested$22a year at today's yield, before tax
+4.8%2020 to 2025
Raised10 yearsin a row, in our data
Paid per share, each year
$0.80 in 2015 → $3.04 in 2025
How safe it looks
46.7% of its profit
Room to growStretchedMore than it earns: 35.5%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
5/7Passes 5 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
80Pass
Benjamin Graham
60Pass
Philip Fisher
66Pass
Peter Lynch
35No pass
Joel Greenblatt
38No pass
Charlie Munger
77Pass
Terry Smith
72Pass
Questions about MarketAxess Holdings
Is MarketAxess Holdings a good stock to buy?
A strong, very profitable business at a fair price. 5 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the MarketAxess Holdings AI analysis
What does MarketAxess Holdings do?
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. It is in Financial - Capital Markets, based in New York, NY, United States, with 859 employees.
Does MarketAxess Holdings pay a dividend?
Yes. At today's price the dividend is 2.2% a year, about 47% of its yearly profit. In 2025 it paid out $115 million in dividends.
Is MarketAxess Holdings stock halal?
Yes. MarketAxess Holdings passes our halal screen: its business is permitted and its debt is 5% of its market value, under the 30% limit. How we check
How has MarketAxess Holdings stock done over the past year?
Down 2.4% over the past twelve months, to $165.08. It traded between $109.09 and $193.61 and is 14.7% below its high.
Who are MarketAxess Holdings's competitors?
The largest listed companies in the same industry are Raymond James Financial, Tradeweb Markets, Nomura Holdings and LPL Financial Holdings. The peers table on this page compares their profit, growth and price with MarketAxess Holdings's.
Prices: daily closes to Nov 10, 2026. Fundamentals: company reports via invest-like data.