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MarketAxess (MKTX) Financials

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$219.92 -2.02 (-0.91%)
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Annual Income Statements for MarketAxess

Annual Income Statements for MarketAxess

This table shows MarketAxess' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 274 258 250 258 299 205 173 148 126 96
Consolidated Net Income / (Loss)		 274 258 250 258 299 205 173 148 126 96
Net Income / (Loss) Continuing Operations		 274 258 250 258 299 205 173 148 126 96
Total Pre-Tax Income 		361 333 338 334 374 257 218 202 192 148
Total Revenue		 842 773 723 699 2.45 511 436 393 370 303
Net Interest Income / (Expense)		 24 20 4.34 0.40 2.45 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 26 22 5.04 0.40 2.45 0.00 0.00 0.00 0.00 0.00
Investment Securities Interest Income		 26 22 5.04 0.40 2.45 - - - - -
Total Interest Expense		 1.60 1.98 0.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt Interest Expense		 1.60 1.98 0.70 - - - - - - -
Total Non-Interest Income		 817 753 718 699 0.00 511 436 393 370 303
Other Non-Interest Income		 817 753 718 699 - 511 436 393 368 34
Total Non-Interest Expense		 476 438 391 362 -375 260 223 194 178 155
Salaries and Employee Benefits		 236 207 182 171 157 131 109 102 97 84
Net Occupancy & Equipment Expense		 87 77 67 56 48 38 38 26 22 21
Marketing Expense		 12 11 9.98 9.06 7.94 12 12 9.76 8.93 6.15
Other Operating Expenses		 68 72 71 73 66 53 41 36 32 26
Depreciation Expense		 74 71 61 53 36 27 23 19 18 19
Nonoperating Income / (Expense), net		 -4.77 -2.76 7.07 -3.71 -2.82 6.54 5.50 2.15 -0.52 -
Income Tax Expense		 86 75 88 76 75 53 45 54 65 52
Basic Earnings per Share		 $7.29 $6.87 $6.68 $6.88 $8.01 $5.53 $4.68 $4.02 $3.42 $2.62
Weighted Average Basic Shares Outstanding		 37.60M 37.55M 37.47M 37.51M 37.36M 37.08M 36.96M 36.86M 36.84M 36.69M
Diluted Earnings per Share		 $7.28 $6.85 $6.65 $6.77 $7.85 $5.40 $4.57 $3.89 $3.34 $2.55
Weighted Average Diluted Shares Outstanding		 37.67M 37.65M 37.64M 38.10M 38.14M 37.96M 37.86M 38.04M 37.74M 37.64M
Weighted Average Basic & Diluted Shares Outstanding		 37.69M 37.87M 37.61M 37.84M 38.00M 37.92M 36.90M 36.80M 36.90M 36.70M
Cash Dividends to Common per Share		 $2.96 $2.88 $2.80 $2.64 $2.40 $2.04 $1.68 $1.32 $1.04 $0.80

Quarterly Income Statements for MarketAxess

This table shows MarketAxess' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 15 65 71 65 73 70 55 60 74 59 59
Consolidated Net Income / (Loss)		 15 65 71 65 73 70 55 60 74 59 59
Net Income / (Loss) Continuing Operations		 15 65 71 65 73 70 55 60 74 59 59
Total Pre-Tax Income 		96 85 93 86 97 84 72 79 98 79 79
Total Revenue		 216 208 213 204 216 202 179 185 207 539 1.43
Net Interest Income / (Expense)		 6.96 5.46 6.61 6.40 5.97 4.46 6.43 5.31 4.25 2.59 1.43
Total Interest Income		 7.17 6.72 6.95 6.40 5.97 6.27 6.59 5.31 4.25 3.29 1.43
Investment Securities Interest Income		 7.17 6.72 6.95 6.40 5.97 6.27 6.59 5.31 4.25 3.29 1.43
Total Interest Expense		 0.21 1.26 0.35 0.00 0.00 1.82 0.16 0.00 0.00 0.70 0.00
Long-Term Debt Interest Expense		 0.21 - 0.35 - - - 0.16 - - - -
Total Non-Interest Income		 209 202 207 198 210 197 172 180 203 536 0.00
Other Non-Interest Income		 209 202 207 198 210 197 172 180 203 - -
Total Non-Interest Expense		 120 122 120 116 118 120 105 104 108 458 -76
Salaries and Employee Benefits		 62 59 58 57 61 57 49 48 52 44 45
Net Occupancy & Equipment Expense		 22 23 22 21 20 21 19 18 19 18 18
Marketing Expense		 2.06 3.97 2.90 3.01 1.83 2.65 2.10 3.31 3.00 3.44 1.80
Other Operating Expenses		 16 18 17 17 16 20 18 17 17 19 16
Depreciation Expense		 18 19 19 18 18 20 18 17 16 16 15
Nonoperating Income / (Expense), net		 0.82 -0.85 -0.77 -1.40 -1.76 2.33 -1.59 -2.09 -1.41 -0.84 1.12
Income Tax Expense		 81 19 21 21 24 14 17 19 25 20 20
Basic Earnings per Share		 $0.40 $1.75 $1.90 $1.72 $1.92 $1.84 $1.47 $1.60 $1.96 $1.59 $1.58
Weighted Average Basic Shares Outstanding		 37.39M 37.60M 37.53M 37.66M 37.74M 37.55M 37.49M 37.49M 37.48M 37.47M 37.48M
Diluted Earnings per Share		 $0.40 $1.74 $1.90 $1.72 $1.92 $1.84 $1.46 $1.59 $1.96 $1.58 $1.58
Weighted Average Diluted Shares Outstanding		 37.46M 37.67M 37.61M 37.69M 37.79M 37.65M 37.57M 37.59M 37.65M 37.64M 37.57M
Weighted Average Basic & Diluted Shares Outstanding		 37.50M 37.69M 37.70M 37.75M 37.90M 37.87M 37.91M 37.68M 37.67M 37.61M 37.64M
Cash Dividends to Common per Share		 $0.76 $0.74 $0.74 $0.74 $0.74 $0.72 $0.72 $0.72 $0.72 $0.70 $0.70

Annual Cash Flow Statements for MarketAxess

This table details how cash moves in and out of MarketAxess' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 89 39 -53 18 334 27 79 -1.23 -31 31
Net Cash From Operating Activities		 385 334 289 282 404 266 224 168 90 125
Net Cash From Continuing Operating Activities		 385 334 289 282 404 266 224 168 90 125
Net Income / (Loss) Continuing Operations		 274 258 250 258 299 205 173 148 126 96
Consolidated Net Income / (Loss)		 274 258 250 258 299 205 173 148 126 96
Depreciation Expense		 74 71 61 53 36 27 23 19 18 19
Amortization Expense		 6.64 5.85 5.71 6.80 6.84 5.80 0.00 - - -
Non-Cash Adjustments to Reconcile Net Income		 34 25 15 30 35 25 18 21 23 16
Changes in Operating Assets and Liabilities, net		 -3.53 -26 -43 -66 27 3.87 9.88 -20 -77 -6.53
Net Cash From Investing Activities		 -87 -155 -86 -68 69 -122 -50 -54 -53 -38
Net Cash From Continuing Investing Activities		 -88 -155 -86 -68 69 -122 -50 -54 -53 -38
Purchase of Property, Leasehold Improvements and Equipment		 -57 -52 -52 -51 -46 -35 -48 -26 -19 -15
Acquisitions		 0.00 -78 - -17 -23 -97 0.00 - - -
Purchase of Investment Securities		 -43 -29 -34 0.00 -33 -161 -337 -216 -81 -58
Sale and/or Maturity of Investments		 12 4.45 0.00 0.00 171 171 334 188 46 35
Net Cash From Financing Activities		 -201 -147 -242 -190 -145 -118 -93 -117 -65 -55
Net Cash From Continuing Financing Activities		 -201 -147 -242 -190 -145 -118 -93 -117 -65 -55
Issuance of Debt		 345 124 100 70 578 0.00 0.00 - - -
Repayment of Debt		 -345 -124 -100 -70 -578 0.00 0.00 - - -
Repurchase of Common Equity		 -75 0.00 -88 -63 -16 -17 -25 -42 -24 -23
Payment of Dividends		 -113 -110 -106 -100 -91 -76 -62 -49 -38 -30
Other Financing Activities, Net		 -13 -37 -49 -27 -38 -25 -5.07 -26 -2.87 -2.67
Effect of Exchange Rate Changes		 -8.14 7.59 -13 -7.11 5.55 1.01 -1.64 1.46 -2.76 -
Cash Interest Paid		 1.72 1.87 0.65 0.83 1.14 0.00 0.00 - - -
Cash Income Taxes Paid		 97 95 89 70 45 52 47 44 58 51

Quarterly Cash Flow Statements for MarketAxess

This table details how cash moves in and out of MarketAxess' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -56 100 26 39 -77 23 32 55 -70 104 40
Net Cash From Operating Activities		 30 176 95 119 -4.95 142 79 105 7.53 134 85
Net Cash From Continuing Operating Activities		 30 176 95 119 -4.95 142 79 105 7.53 134 85
Net Income / (Loss) Continuing Operations		 15 65 71 65 73 70 55 60 74 59 59
Consolidated Net Income / (Loss)		 15 65 71 65 73 70 55 60 74 59 59
Depreciation Expense		 18 19 19 18 18 20 18 17 16 16 15
Amortization Expense		 1.76 1.61 1.79 1.64 1.60 1.65 1.49 1.35 1.37 1.48 1.23
Non-Cash Adjustments to Reconcile Net Income		 4.09 9.93 9.85 6.67 7.68 6.19 5.56 8.01 5.22 9.35 -5.63
Changes in Operating Assets and Liabilities, net		 -9.53 81 -6.76 27 -105 45 -0.40 19 -89 48 15
Net Cash From Investing Activities		 -17 -12 -42 -18 -16 -92 -16 -15 -33 -18 -13
Net Cash From Continuing Investing Activities		 -17 -12 -42 -18 -16 -92 -16 -15 -33 -18 -13
Purchase of Property, Leasehold Improvements and Equipment		 -17 -12 -12 -18 -15 -13 -16 -12 -11 -18 -13
Purchase of Investment Securities		 -5.46 -4.06 -31 -2.89 -4.97 -0.95 -1.12 -3.86 -23 -34 -
Sale and/or Maturity of Investments		 5.27 3.45 1.53 3.16 4.30 1.14 1.34 0.92 1.05 - -
Net Cash From Financing Activities		 -77 -45 -42 -61 -53 -36 -23 -40 -48 -27 -28
Net Cash From Continuing Financing Activities		 -77 -45 -42 -61 -53 -36 -23 -40 -48 -27 -28
Issuance of Debt		 0.00 - 245 100 0.00 70 4.00 - 50 - -
Repayment of Debt		 0.00 - -245 -100 0.00 -74 - - -50 - -
Repurchase of Common Equity		 -38 -17 -15 -33 -10 - - - 0.00 - -
Payment of Dividends		 -29 -28 -28 -28 -29 -28 -27 -27 -28 -26 -26
Other Financing Activities, Net		 -9.53 -0.36 0.28 -0.21 -13 -4.76 -0.22 -13 -20 -0.81 -2.10
Effect of Exchange Rate Changes		 8.58 -19 15 -0.49 -3.19 9.04 -8.63 3.84 3.35 15 -4.22
Cash Interest Paid		 0.20 0.32 0.54 0.43 0.43 1.47 0.16 0.05 0.19 -0.01 0.23
Cash Income Taxes Paid		 -1.87 21 29 10 37 12 19 52 12 20 21

Annual Balance Sheets for MarketAxess

This table presents MarketAxess' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 1,789 2,015 1,608 1,530 1,331 955 696 581 528 439
Cash and Due from Banks		 544 451 431 507 461 270 246 167 168 200
Restricted Cash		 47 45 51 50 50 0.00 - - - -
Trading Account Securities		 165 135 84 36 28 230 240 240 194 85
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 358 688 476 408 280 0.00 - - - -
Premises and Equipment, Net		 107 103 100 96 85 72 63 39 31 31
Goodwill		 237 237 155 155 147 147 60 - - -
Intangible Assets		 98 119 98 116 95 61 2.96 63 63 64
Other Assets		 233 237 213 162 185 175 83 73 71 60
Total Liabilities & Shareholders' Equity		 1,789 2,015 1,608 1,530 1,331 955 696 581 528 439
Total Liabilities		 401 722 527 489 376 185 88 66 60 48
Short-Term Debt		 219 537 304 229 133 0.00 - - - -
Other Short-Term Payables		 105 97 112 131 107 - 68 51 50 42
Other Long-Term Liabilities		 76 88 111 129 136 185 19 16 10 6.78
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,389 1,293 1,081 1,041 955 770 608 515 468 391
Total Preferred & Common Equity		 1,389 1,293 1,081 1,041 955 770 608 515 468 391
Preferred Stock		 0.00 0.00 0.00 - - 0.00 0.00 - - -
Total Common Equity		 1,389 1,293 1,081 1,041 955 770 608 515 468 391
Common Stock		 351 333 346 330 330 343 342 331 342 321
Retained Earnings		 1,406 1,244 1,102 957 799 591 463 354 255 168
Treasury Stock		 -333 -260 -328 -233 -170 -153 -185 -160 -117 -93
Accumulated Other Comprehensive Income / (Loss)		 -35 -24 -38 -13 -4.65 -10 -12 -10 -12 -5.23

Quarterly Balance Sheets for MarketAxess

This table presents MarketAxess' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets		 1,878 1,789 1,833 1,887 1,927 2,015 1,738 1,619 1,628 1,608 1,560
Cash and Due from Banks		 486 544 446 434 377 451 420 396 333 431 319
Restricted Cash		 48 47 47 46 46 45 53 52 51 51 51
Trading Account Securities		 166 165 167 136 136 135 133 109 107 84 33
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 494 358 475 578 663 688 548 480 558 476 585
Premises and Equipment, Net		 108 107 109 109 107 103 102 99 99 100 94
Goodwill		 237 237 237 237 237 237 155 155 155 155 155
Intangible Assets		 94 98 104 108 114 119 85 90 94 98 100
Other Assets		 246 233 247 239 248 237 242 238 231 213 224
Total Liabilities & Shareholders' Equity		 1,878 1,789 1,833 1,887 1,927 2,015 1,738 1,619 1,628 1,608 1,560
Total Liabilities		 531 401 447 557 609 722 547 454 507 527 541
Short-Term Debt		 319 219 283 393 466 537 364 287 316 304 337
Other Short-Term Payables		 60 105 86 77 62 97 84 68 71 112 93
Other Long-Term Liabilities		 152 76 77 87 81 88 99 98 119 111 112
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,347 1,389 1,386 1,329 1,318 1,293 1,191 1,165 1,122 1,081 1,019
Total Preferred & Common Equity		 1,347 1,389 1,386 1,329 1,318 1,293 1,191 1,165 1,122 1,081 1,019
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 -
Total Common Equity		 1,347 1,389 1,386 1,329 1,318 1,293 1,191 1,165 1,121 1,081 1,019
Common Stock		 349 351 344 336 328 333 347 340 333 346 330
Retained Earnings		 1,392 1,406 1,369 1,325 1,288 1,244 1,209 1,181 1,148 1,102 1,069
Treasury Stock		 -370 -333 -317 -302 -269 -260 -327 -328 -328 -328 -320
Accumulated Other Comprehensive Income / (Loss)		 -23 -35 -10 -29 -29 -24 -38 -28 -32 -38 -60

Annual Metrics And Ratios for MarketAxess

This table displays calculated financial ratios and metrics derived from MarketAxess' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 8.87% 6.97% 3.33% 28,491.66% -99.52% 17.40% 10.71% 6.37% 22.03% 15.35%
EBITDA Growth		 8.23% 3.39% 0.12% -5.27% 48.13% 20.31% 7.66% 4.25% 26.15% 22.46%
EBIT Growth		 8.90% 1.28% -1.90% -10.48% 50.34% 18.02% 6.50% 3.90% 29.90% 24.77%
NOPAT Growth		 6.77% 6.21% -6.04% -13.55% 51.04% 18.52% 15.00% 15.80% 31.74% 28.38%
Net Income Growth		 6.25% 3.13% -2.97% -13.86% 46.11% 18.54% 16.72% 17.37% 31.38% 28.38%
EPS Growth		 6.28% 3.01% -1.77% -13.76% 45.37% 18.16% 17.48% 16.47% 30.98% 29.44%
Operating Cash Flow Growth		 15.42% 15.40% 2.53% -30.26% 52.10% 18.77% 33.26% 87.23% -27.92% 13.24%
Free Cash Flow Firm Growth		 370.51% -241.78% 66.28% 571.02% -144.47% -50.28% -24.43% 102.69% 24.49% -22.43%
Invested Capital Growth		 -12.18% 32.15% 9.01% 16.74% 41.33% 26.69% 18.09% 9.99% 19.78% 16.91%
Revenue Q/Q Growth		 0.50% -30.40% 106.80% 272.92% -99.49% 3.51% 3.92% 0.41% 5.04% 2.18%
EBITDA Q/Q Growth		 0.21% 1.10% 2.09% -4.12% 60.37% -27.43% 3.66% -1.64% 6.85% 2.31%
EBIT Q/Q Growth		 0.54% 0.15% 2.25% -5.90% 69.80% -31.41% 3.75% -2.23% 7.78% 2.42%
NOPAT Q/Q Growth		 -1.29% 2.98% 2.77% -8.02% 9.68% 2.70% 8.31% -0.86% 7.67% 3.06%
Net Income Q/Q Growth		 -1.61% 4.20% 2.90% -7.45% 8.19% 2.22% 7.70% 0.21% 7.38% 3.06%
EPS Q/Q Growth		 -1.36% 3.95% 3.26% -7.39% 8.13% 2.08% 7.78% 0.26% 6.71% 3.66%
Operating Cash Flow Q/Q Growth		 9.86% 2.29% -3.82% -22.50% 52.06% 7.71% 11.81% -5.70% 10.38% 5.78%
Free Cash Flow Firm Q/Q Growth		 199.91% -447.79% -45.95% 298.37% 74.76% -52.22% -14.20% 12.62% 25.33% -14.09%
Invested Capital Q/Q Growth		 -3.72% 17.70% 2.17% -6.48% 5.09% 10.86% 5.06% 0.76% 3.61% 4.62%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 52.97% 53.28% 55.13% 56.89% 17,171.38% 55.45% 54.11% 55.64% 56.77% 54.91%
EBIT Margin		 43.41% 43.40% 45.83% 48.28% 15,420.03% 49.06% 48.81% 50.74% 51.94% 48.80%
Profit (Net Income) Margin		 32.58% 33.38% 34.63% 36.88% 12,239.45% 40.07% 39.68% 37.64% 34.11% 31.69%
Tax Burden Percent		 76.05% 77.56% 73.97% 77.23% 79.97% 79.60% 79.26% 73.40% 65.85% 64.93%
Interest Burden Percent		 98.69% 99.18% 102.14% 98.90% 99.25% 102.61% 102.59% 101.08% 99.73% 100.00%
Effective Tax Rate		 23.95% 22.44% 26.03% 22.77% 20.03% 20.40% 20.74% 26.60% 34.15% 35.07%
Return on Invested Capital (ROIC)		 16.16% 16.18% 18.45% 22.11% 32.46% 28.98% 30.02% 29.82% 29.47% 26.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.20% 15.68% 20.41% 20.53% 29.08% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 4.29% 5.56% 5.13% 3.73% 2.25% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 20.45% 21.74% 23.58% 25.84% 34.71% 0.00% 0.00% 0.00% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 29.13% -11.51% 9.83% 6.66% -1.79% 5.44% 13.43% 20.30% 11.46% 10.91%
Operating Return on Assets (OROA)		 19.21% 18.52% 21.11% 23.60% 32.99% 30.40% 33.30% 35.99% 39.73% 36.12%
Return on Assets (ROA)		 14.41% 14.25% 15.95% 18.02% 26.19% 24.83% 27.08% 26.70% 26.09% 23.45%
Return on Common Equity (ROCE)		 20.45% 21.74% 23.58% 25.83% 34.70% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 19.74% 19.96% 23.15% 24.77% 31.35% 26.61% 28.44% 28.77% 26.96% 24.58%
Net Operating Profit after Tax (NOPAT)		 278 260 245 261 302 200 168 147 127 96
NOPAT Margin		 33.01% 33.66% 33.90% 37.29% 12,331.49% 39.05% 38.68% 37.24% 34.21% 31.69%
Net Nonoperating Expense Percent (NNEP)		 0.96% 0.51% -1.96% 1.58% 3.38% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 39.74% 38.16% 35.86% 33.71% 8,681.19% 35.41% 36.57% 35.14% 34.48% 36.49%
Operating Expenses to Revenue		 56.59% 56.60% 54.17% 51.72% -15,320.03% 50.94% 51.19% 49.26% 48.06% 51.20%
Earnings before Interest and Taxes (EBIT)		 365 335 331 338 377 251 213 200 192 148
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 446 412 398 398 420 284 236 219 210 166
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 6.11 8.44 9.45 14.57 21.88 17.85 12.45 13.90 11.07 9.92
Price to Tangible Book Value (P/TBV)		 8.06 11.65 12.34 19.70 29.34 24.44 13.89 15.84 12.81 11.87
Price to Revenue (P/Rev)		 10.09 14.12 14.14 21.69 8,542.08 26.88 17.38 18.19 14.01 12.78
Price to Earnings (P/E)		 30.96 42.31 40.83 58.83 69.79 67.07 43.80 48.32 41.06 40.34
Dividend Yield		 1.31% 1.00% 1.03% 0.66% 0.44% 0.56% 0.83% 0.69% 0.75% 0.77%
Earnings Yield		 3.23% 2.36% 2.45% 1.70% 1.43% 1.49% 2.28% 2.07% 2.44% 2.48%
Enterprise Value to Invested Capital (EV/IC)		 5.05 5.99 7.25 11.68 18.85 17.50 12.05 13.58 10.71 9.40
Enterprise Value to Revenue (EV/Rev)		 9.64 14.18 13.89 21.22 8,387.71 26.35 16.81 17.76 13.55 12.12
Enterprise Value to EBITDA (EV/EBITDA)		 18.21 26.61 25.20 37.31 48.85 47.52 31.08 31.93 23.87 22.08
Enterprise Value to EBIT (EV/EBIT)		 22.22 32.67 30.31 43.96 54.39 53.71 34.45 35.01 26.09 24.84
Enterprise Value to NOPAT (EV/NOPAT)		 29.22 42.12 40.98 56.93 68.02 67.47 43.47 47.70 39.62 38.26
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.07 32.83 34.71 52.62 50.72 50.67 32.71 41.59 55.85 29.51
Enterprise Value to Free Cash Flow (EV/FCFF)		 16.21 0.00 76.90 189.07 0.00 359.47 97.16 70.06 101.85 92.95
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.16 0.42 0.28 0.22 0.14 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.28 0.35 0.25 0.18 0.08 0.00 0.00 0.00 0.00 0.00
Leverage Ratio		 1.42 1.53 1.48 1.43 1.33 1.20 1.14 1.13 1.13 1.13
Compound Leverage Factor		 1.40 1.51 1.51 1.42 1.32 1.23 1.17 1.14 1.12 1.13
Debt to Total Capital		 13.61% 29.36% 21.95% 18.05% 12.25% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 13.61% 29.36% 21.95% 18.05% 12.25% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 86.39% 70.64% 78.05% 81.95% 87.74% 100.00% 100.00% 100.00% 100.00% 99.97%
Debt to EBITDA		 0.49 1.30 0.76 0.58 0.32 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -0.84 0.10 -0.45 -0.82 -0.90 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.79 2.07 1.24 0.88 0.44 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 -1.34 0.16 -0.73 -1.26 -1.25 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.01% 0.01% 0.00% 0.00% 0.00% 0.01% 0.02%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 501 -185 131 79 -17 37 75 100 49 40
Operating Cash Flow to CapEx		 672.81% 636.38% 557.59% 557.32% 886.49% 766.38% 470.48% 657.49% 485.04% 809.32%
Free Cash Flow to Firm to Interest Expense		 312.72 -93.33 186.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 240.62 168.31 413.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 204.86 141.87 339.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.44 0.43 0.46 0.49 0.00 0.62 0.68 0.71 0.76 0.74
Fixed Asset Turnover		 8.02 7.62 7.36 7.72 0.03 7.59 8.58 11.30 11.93 9.61
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 1,608 1,830 1,385 1,271 1,088 770 608 515 468 391
Invested Capital Turnover		 0.49 0.48 0.54 0.59 0.00 0.74 0.78 0.80 0.86 0.84
Increase / (Decrease) in Invested Capital		 -223 445 114 182 318 162 93 47 77 57
Enterprise Value (EV)		 8,117 10,959 10,039 14,844 20,516 13,474 7,324 6,989 5,013 3,675
Market Capitalization		 8,489 10,918 10,217 15,171 20,894 13,744 7,570 7,156 5,181 3,874
Book Value per Share		 $36.83 $34.11 $28.72 $27.38 $25.15 $20.39 $16.17 $13.71 $12.45 $10.47
Tangible Book Value per Share		 $27.95 $24.72 $22.01 $20.25 $18.76 $14.88 $14.50 $12.03 $10.77 $8.75
Total Capital		 1,608 1,830 1,385 1,271 1,088 770 608 515 468 391
Total Debt		 219 537 304 229 133 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -373 41 -178 -328 -378 -270 -246 -167 -168 -200
Capital Expenditures (CapEx)		 57 52 52 51 46 35 48 26 19 15
Net Nonoperating Expense (NNE)		 3.63 2.14 -5.23 2.87 2.25 -5.21 -4.36 -1.58 0.34 0.00
Net Nonoperating Obligations (NNO)		 219 537 304 229 133 0.00 0.00 0.00 0.00 0.00
Total Depreciation and Amortization (D&A)		 80 76 67 60 43 33 23 19 18 19
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $7.29 $6.87 $6.68 $6.88 $8.01 $5.53 $4.68 $0.00 $3.42 $2.62
Adjusted Weighted Average Basic Shares Outstanding		 37.60M 37.55M 37.47M 37.51M 37.36M 37.08M 36.96M 0.00 36.84M 36.69M
Adjusted Diluted Earnings per Share		 $7.28 $6.85 $6.65 $6.77 $7.85 $5.40 $4.57 $0.00 $3.34 $2.55
Adjusted Weighted Average Diluted Shares Outstanding		 37.67M 37.65M 37.64M 38.10M 38.14M 37.96M 37.86M 0.00 37.74M 37.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $5.53 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.69M 37.87M 37.61M 37.84M 38.00M 37.92M 40.59M 0.00 37.59M 37.52M
Normalized Net Operating Profit after Tax (NOPAT)		 278 260 245 261 -249 200 168 147 127 96
Normalized NOPAT Margin		 33.01% 33.66% 33.90% 37.29% -10,199.06% 39.05% 38.68% 37.24% 34.21% 31.69%
Pre Tax Income Margin		 42.84% 43.04% 46.81% 47.75% 15,304.95% 50.34% 50.07% 51.29% 51.80% 48.80%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 228.18 169.17 473.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 173.52 131.21 349.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 192.42 142.72 399.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 137.76 104.76 275.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 41.10% 42.49% 42.34% 38.70% 30.25% 37.20% 36.12% 33.01% 30.51% 30.75%
Augmented Payout Ratio		 68.63% 42.49% 77.32% 63.20% 35.64% 45.63% 50.68% 61.69% 49.47% 54.87%

Quarterly Metrics And Ratios for MarketAxess

This table displays calculated financial ratios and metrics derived from MarketAxess' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.21% 3.06% 19.37% 10.21% 4.28% -62.56% 12,371.04% 1.47% 351,455.93% 225.55% -99.12%
EBITDA Growth		 -2.22% 2.86% 23.59% 8.39% 0.71% 5.32% -2.01% -2.25% 11.91% 9.11% 5.16%
EBIT Growth		 -2.87% 4.86% 27.72% 8.27% -1.14% 1.51% -5.67% -4.71% 12.98% 9.98% 5.06%
NOPAT Growth		 -79.73% -2.81% 28.34% 7.41% -1.01% 13.10% -3.94% -3.29% 18.26% 12.48% 1.54%
Net Income Growth		 -79.25% -6.45% 30.12% 8.48% -1.38% 17.56% -7.36% -10.55% 13.68% 13.49% 2.33%
EPS Growth		 -79.17% -5.43% 30.14% 8.18% -2.04% 16.46% -7.59% -10.67% 14.62% 15.33% 3.95%
Operating Cash Flow Growth		 698.69% 24.39% 20.12% 12.77% -165.75% 5.56% -6.98% 12.56% 131.72% -7.88% 35.48%
Free Cash Flow Firm Growth		 148.71% 176.45% 70.39% -1,257.83% -328.94% -591.54% -332.68% -21.75% 197.17% 57.69% 123.19%
Invested Capital Growth		 -6.60% -12.18% 7.36% 18.56% 24.07% 32.15% 14.71% 5.56% -2.98% 9.01% -0.23%
Revenue Q/Q Growth		 3.69% -2.56% 4.54% -5.65% -42.45% 12.87% -3.48% -10.73% -61.54% 37,490.02% -99.21%
EBITDA Q/Q Growth		 9.23% -7.52% 5.98% -8.91% 13.20% 11.12% -7.05% -15.36% 19.62% 3.39% -7.28%
EBIT Q/Q Growth		 11.58% -8.78% 6.75% -10.90% 18.21% 11.11% -9.51% -18.64% 23.02% 3.25% -8.58%
NOPAT Q/Q Growth		 -77.30% -8.72% 9.22% -10.74% 6.84% 20.53% -8.60% -17.73% 23.71% 2.37% -7.98%
Net Income Q/Q Growth		 -76.87% -8.88% 10.09% -10.57% 4.29% 26.73% -8.22% -18.70% 24.32% -0.14% -11.38%
EPS Q/Q Growth		 -77.01% -8.42% 10.47% -10.42% 4.35% 26.03% -8.18% -18.88% 24.05% 0.00% -11.24%
Operating Cash Flow Q/Q Growth		 -83.19% 85.35% -19.99% 2,501.48% -103.49% 78.98% -24.89% 1,300.21% -94.39% 57.73% -9.12%
Free Cash Flow Firm Q/Q Growth		 -54.03% 780.35% 79.16% 25.19% 27.62% -163.53% -855.44% -112.61% 319.86% -188.67% 599.96%
Invested Capital Q/Q Growth		 3.65% -3.72% -3.05% -3.47% -2.54% 17.70% 7.06% 1.02% 3.81% 2.17% -1.48%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 53.51% 50.80% 53.52% 52.80% 54.68% 50.90% 51.70% 53.68% 56.62% 18.10% 6,579.13%
EBIT Margin		 44.23% 41.10% 43.91% 43.00% 45.53% 40.40% 41.04% 43.77% 48.02% 14.90% 5,425.26%
Profit (Net Income) Margin		 6.99% 31.34% 33.51% 31.82% 33.57% 34.52% 30.74% 32.33% 35.50% 11.00% 4,138.66%
Tax Burden Percent		 15.67% 77.00% 76.96% 75.21% 75.08% 83.08% 76.58% 75.82% 74.98% 74.57% 75.20%
Interest Burden Percent		 100.86% 99.01% 99.18% 98.40% 98.22% 102.86% 97.83% 97.42% 98.58% 98.95% 101.44%
Effective Tax Rate		 84.33% 23.00% 23.04% 24.79% 24.92% 16.92% 23.42% 24.18% 25.02% 25.43% 24.80%
Return on Invested Capital (ROIC)		 3.38% 15.49% 17.55% 16.36% 16.63% 16.14% 23.98% 21.90% 22.95% 6.05% 1,050.47%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.41% 15.32% 17.37% 16.05% 16.30% 16.60% 23.63% 21.42% 22.68% 5.81% 1,050.73%
Return on Net Nonoperating Assets (RNNOA)		 1.00% 4.32% 4.36% 4.38% 5.22% 5.88% 7.50% 6.55% 8.19% 1.46% 324.40%
Return on Equity (ROE)		 4.38% 19.82% 21.91% 20.73% 21.86% 22.02% 31.48% 28.45% 31.15% 7.51% 1,374.86%
Cash Return on Invested Capital (CROIC)		 19.47% 29.13% 10.35% -0.26% -5.29% -11.51% 3.66% 12.62% 20.64% 9.83% 17.79%
Operating Return on Assets (OROA)		 19.56% 18.18% 20.59% 19.69% 20.07% 17.24% 27.65% 25.64% 26.80% 6.86% 1,195.45%
Return on Assets (ROA)		 3.09% 13.86% 15.72% 14.57% 14.80% 14.73% 20.71% 18.94% 19.81% 5.06% 911.95%
Return on Common Equity (ROCE)		 4.38% 19.82% 21.91% 20.73% 21.86% 22.02% 31.48% 28.45% 31.14% 7.51% 1,374.78%
Return on Equity Simple (ROE_SIMPLE)		 16.08% 0.00% 20.10% 19.72% 19.50% 0.00% 20.79% 21.63% 23.10% 0.00% 23.87%
Net Operating Profit after Tax (NOPAT)		 15 66 72 66 74 68 56 61 75 60 58
NOPAT Margin		 6.93% 31.65% 33.79% 32.34% 34.18% 33.56% 31.43% 33.18% 36.01% 11.11% 4,079.94%
Net Nonoperating Expense Percent (NNEP)		 -0.03% 0.17% 0.18% 0.31% 0.34% -0.46% 0.35% 0.48% 0.27% 0.23% -0.26%
SG&A Expenses to Revenue		 39.74% 41.31% 39.24% 39.83% 38.64% 40.22% 39.07% 37.87% 35.64% 12.13% 4,476.76%
Operating Expenses to Revenue		 55.77% 58.90% 56.09% 57.00% 54.47% 59.60% 58.96% 56.23% 51.98% 85.10% -5,325.26%
Earnings before Interest and Taxes (EBIT)		 95 85 94 88 98 81 73 81 100 80 78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 115 106 114 108 118 103 92 99 117 97 94
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.05 6.11 6.98 5.70 6.26 8.44 6.67 8.32 12.89 9.45 8.03
Price to Tangible Book Value (P/TBV)		 8.03 8.06 9.25 7.70 8.53 11.65 8.35 10.53 16.57 12.34 10.71
Price to Revenue (P/Rev)		 9.70 10.09 11.55 9.44 10.53 14.12 7.15 10.38 15.53 14.14 23.42
Price to Earnings (P/E)		 37.64 30.96 34.71 28.90 32.12 42.31 32.08 38.46 55.77 40.83 33.65
Dividend Yield		 1.38% 1.31% 1.15% 1.46% 1.33% 1.00% 1.36% 1.10% 0.73% 1.03% 1.27%
Earnings Yield		 2.66% 3.23% 2.88% 3.46% 3.11% 2.36% 3.12% 2.60% 1.79% 2.45% 2.97%
Enterprise Value to Invested Capital (EV/IC)		 4.77 5.05 5.67 4.35 4.65 5.99 5.04 6.56 10.00 7.25 6.01
Enterprise Value to Revenue (EV/Rev)		 9.44 9.64 11.30 9.33 10.59 14.18 7.05 10.21 15.45 13.89 23.32
Enterprise Value to EBITDA (EV/EBITDA)		 17.92 18.21 21.27 17.70 20.01 26.61 19.23 23.29 34.94 25.20 20.89
Enterprise Value to EBIT (EV/EBIT)		 21.90 22.22 26.04 21.83 24.68 32.67 23.39 28.09 41.88 30.31 25.16
Enterprise Value to NOPAT (EV/NOPAT)		 36.40 29.22 33.62 28.20 31.80 42.12 31.01 37.38 55.95 40.98 34.19
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.91 21.07 26.98 22.37 25.83 32.83 24.01 28.69 44.87 34.71 27.10
Enterprise Value to Free Cash Flow (EV/FCFF)		 23.64 16.21 56.68 0.00 0.00 0.00 147.23 53.39 47.74 76.90 33.75
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.24 0.16 0.20 0.30 0.35 0.42 0.31 0.25 0.28 0.28 0.33
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.29 0.28 0.25 0.27 0.32 0.35 0.32 0.31 0.36 0.25 0.31
Leverage Ratio		 1.43 1.42 1.39 1.41 1.46 1.53 1.49 1.47 1.56 1.48 1.53
Compound Leverage Factor		 1.44 1.40 1.37 1.38 1.43 1.57 1.46 1.43 1.53 1.46 1.55
Debt to Total Capital		 19.14% 13.61% 16.97% 22.81% 26.11% 29.36% 23.41% 19.78% 22.00% 21.95% 24.85%
Short-Term Debt to Total Capital		 19.14% 13.61% 16.97% 22.81% 26.11% 29.36% 23.41% 19.78% 22.00% 21.95% 24.85%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 80.86% 86.39% 83.03% 77.19% 73.89% 70.64% 76.59% 80.22% 77.99% 78.05% 75.14%
Debt to EBITDA		 0.72 0.49 0.64 0.93 1.12 1.30 0.89 0.70 0.77 0.76 0.86
Net Debt to EBITDA		 -0.48 -0.84 -0.47 -0.21 0.10 0.10 -0.27 -0.39 -0.17 -0.45 -0.08
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 1.46 0.79 1.01 1.48 1.78 2.07 1.44 1.13 1.23 1.24 1.41
Net Debt to NOPAT		 -0.99 -1.34 -0.75 -0.33 0.17 0.16 -0.43 -0.63 -0.26 -0.73 -0.14
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.01% 0.00% 0.01% 0.00% 0.01%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 133 289 -42 -204 -272 -378 -143 -15 119 -55 62
Operating Cash Flow to CapEx		 174.69% 1,501.13% 781.60% 653.34% -32.65% 1,058.06% 492.60% 872.47% 69.01% 740.72% 680.29%
Free Cash Flow to Firm to Interest Expense		 622.98 230.00 -122.62 0.00 0.00 -207.58 -873.65 0.00 0.00 -78.00 0.00
Operating Cash Flow to Interest Expense		 139.10 140.44 274.82 0.00 0.00 77.89 482.69 0.00 0.00 191.75 0.00
Operating Cash Flow Less CapEx to Interest Expense		 59.47 131.08 239.66 0.00 0.00 70.53 384.70 0.00 0.00 165.86 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.44 0.44 0.47 0.46 0.44 0.43 0.67 0.59 0.56 0.46 0.22
Fixed Asset Turnover		 7.82 8.02 7.93 7.73 7.60 7.62 11.38 9.71 9.57 7.36 3.70
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,666 1,608 1,670 1,722 1,784 1,830 1,555 1,452 1,438 1,385 1,356
Invested Capital Turnover		 0.49 0.49 0.52 0.51 0.49 0.48 0.76 0.66 0.64 0.54 0.26
Increase / (Decrease) in Invested Capital		 -118 -223 115 270 346 445 199 76 -44 114 -3.11
Enterprise Value (EV)		 7,940 8,117 9,462 7,488 8,299 10,959 7,835 9,531 14,381 10,039 8,150
Market Capitalization		 8,155 8,489 9,672 7,575 8,256 10,918 7,944 9,693 14,449 10,217 8,182
Book Value per Share		 $35.74 $36.83 $36.72 $35.07 $34.93 $34.11 $31.61 $30.93 $29.82 $28.72 $27.06
Tangible Book Value per Share		 $26.96 $27.95 $27.69 $25.97 $25.65 $24.72 $25.25 $24.44 $23.19 $22.01 $20.30
Total Capital		 1,666 1,608 1,670 1,722 1,784 1,830 1,555 1,452 1,438 1,385 1,356
Total Debt		 319 219 283 393 466 537 364 287 316 304 337
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -215 -373 -210 -87 43 41 -109 -161 -68 -178 -32
Capital Expenditures (CapEx)		 17 12 12 18 15 13 16 12 11 18 13
Net Nonoperating Expense (NNE)		 -0.13 0.65 0.59 1.06 1.32 -1.94 1.22 1.58 1.06 0.63 -0.84
Net Nonoperating Obligations (NNO)		 319 219 283 393 466 537 364 287 316 304 337
Total Depreciation and Amortization (D&A)		 20 20 21 20 20 21 19 18 18 17 17
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.40 $1.75 $1.90 $1.72 $1.92 $1.84 $1.47 $1.60 $1.96 $1.59 $1.58
Adjusted Weighted Average Basic Shares Outstanding		 37.39M 37.60M 37.53M 37.66M 37.74M 37.55M 37.49M 37.49M 37.48M 37.47M 37.48M
Adjusted Diluted Earnings per Share		 $0.40 $1.74 $1.90 $1.72 $1.92 $1.84 $1.46 $1.59 $1.96 $1.58 $1.58
Adjusted Weighted Average Diluted Shares Outstanding		 37.46M 37.67M 37.61M 37.69M 37.79M 37.65M 37.57M 37.59M 37.65M 37.64M 37.57M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.50M 37.69M 37.70M 37.75M 37.90M 37.87M 37.91M 37.68M 37.67M 37.61M 37.64M
Normalized Net Operating Profit after Tax (NOPAT)		 67 66 72 66 74 68 56 61 75 60 -71
Normalized NOPAT Margin		 30.96% 31.65% 33.79% 32.34% 34.18% 33.56% 31.43% 33.18% 36.01% 11.11% -4,952.35%
Pre Tax Income Margin		 44.61% 40.70% 43.55% 42.31% 44.72% 41.55% 40.14% 42.64% 47.34% 14.75% 5,503.35%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 447.60 68.08 270.70 0.00 0.00 44.79 447.16 0.00 0.00 114.67 0.00
NOPAT to Interest Expense		 70.13 52.42 208.32 0.00 0.00 37.21 342.44 0.00 0.00 85.50 0.00
EBIT Less CapEx to Interest Expense		 367.97 58.72 235.54 0.00 0.00 37.43 349.18 0.00 0.00 88.78 0.00
NOPAT Less CapEx to Interest Expense		 -9.50 43.07 173.16 0.00 0.00 29.85 244.45 0.00 0.00 59.62 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 52.02% 41.10% 40.38% 42.62% 43.10% 42.49% 43.70% 42.72% 41.25% 42.34% 43.03%
Augmented Payout Ratio		 99.75% 68.63% 61.42% 59.25% 47.05% 42.49% 43.70% 42.72% 60.06% 77.32% 97.53%

Frequently Asked Questions About MarketAxess' Financials

When does MarketAxess's fiscal year end?

According to the most recent income statement we have on file, MarketAxess' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has MarketAxess' net income changed over the last 9 years?

MarketAxess' net income appears to be on an upward trend, with a most recent value of $274.18 million in 2024, rising from $96.04 million in 2015. The previous period was $258.06 million in 2023. View MarketAxess' forecast to see where analysts expect MarketAxess to go next.

How has MarketAxess revenue changed over the last 9 years?

Over the last 9 years, MarketAxess' total revenue changed from $303.10 million in 2015 to $841.54 million in 2024, a change of 177.6%.

How much debt does MarketAxess have?

MarketAxess' total liabilities were at $400.56 million at the end of 2024, a 44.5% decrease from 2023, and a 728.8% increase since 2015.

How much cash does MarketAxess have?

In the past 9 years, MarketAxess' cash and equivalents has ranged from $167.01 million in 2017 to $544.48 million in 2024, and is currently $544.48 million as of their latest financial filing in 2024.

How has MarketAxess' book value per share changed over the last 9 years?

Over the last 9 years, MarketAxess' book value per share changed from 10.47 in 2015 to 36.83 in 2024, a change of 251.6%.


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This page (NASDAQ:MKTX) was last updated on 5/21/2025 by MarketBeat.com Staff
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