Company Deep Dive
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MKTX
HOLDMarketAxess Holdings Inc. · Financial Services · United States · $4.1B · Avg Vol: $77M/d
COMPANY DESCRIPTION
MarketAxess Holdings Inc. operates a premier electronic trading platform for fixed-income securities, predominantly focusing on corporate bonds and other credit products. The company benefits from significant network effects, as its growing pool of institutional participants enhances liquidity and price discovery, establishing it as a dominant venue for bond trading. Its proprietary technology and extensive market data services are actively transforming the traditionally over-the-counter fixed-income markets.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 718.3M | 752.5M | 817.1M | 846.3M | 5.6% | 871.1M | 892.8M | 953.3M | 6.1% |
| EPS | 6.68 | 6.87 | 7.29 | 6.66 | -0.1% | 8.53 | 7.14 | 7.87 | 8.7% |
| Shares | 37.6M | 37.9M | 37.6M | 35.8M | -5.0% | 35.5M | — | — | — |
| Debt | 82.7M | 79.7M | 72.7M | 284.9M | 51.1% | 292.0M | — | — | — |
| Equity | 1.1B | 1.3B | 1.4B | 1.1B | 2.0% | — | — | — | — |
| Op CF | 289.2M | 333.8M | 385.2M | 382.1M | 9.7% | 277.2M | — | — | — |
| Inv CF | -86.3M | -155.3M | -86.9M | -96.9M | — | — | — | — | — |
| Fin CF | -242.4M | -147.1M | -201.4M | -332.4M | — | — | — | — | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Financial Services, ranked by industry match, size, and score similarity. Cross-listings of MKTX are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| MKTX | MarketAxess Holdings Inc.(you) | $4.1B | 48 | HOLD |
| BGC | BGC Group, Inc. | $5.6B | 53 | HOLD |
| LCLN | Lincoln International, Inc. | $2.4B | 50 | HOLD |
| PIPR | Piper Sandler Companies | $5.1B | 40 | HOLD |
| MC | Moelis & Company | $5.0B | 39 | HOLD |
| LAZ | Lazard, Inc. | $4.4B | 35 | SELL |
| PJT | PJT Partners Inc. | $6.9B | 41 | HOLD |
| MIAX | Miami International Holdings, Inc. | $4.1B | 29 | SELL |
| CLSK | CleanSpark, Inc. | $3.7B | 27 | SELL |
| SF | Stifel Financial Corp. | $12.3B | 47 | HOLD |
Peer medians: ROE 9.4% · P/E 13.9x · Gross margin 100.0%