MarketAxess Holdings Inc. (MKTX) Stock: Price, Forecast & Analyst Target
MarketAxess Holdings Inc. (MKTX) — MoonshotScore 69/100 (Strong band), calculated Oct 5, 2026. Price $164.14 (-0.05%), as of the Oct 2, 2026 trading session; market cap $5.78B. Expected results Nov 6, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 23.52× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 6, 2026
MarketAxess Holdings Inc. · MKTX · NASDAQ · Financial Services · Financial - Capital Markets
Research dated 2026-09-13: MarketAxess operates an electronic platform where institutional investors and broker-dealers trade fixed-income securities—corporate bonds, Treasuries, municipal bonds, and emerging market debt. Revenue depends on trading volume and the company's ability to charge commissions and market-data fees; the business is a pure beneficiary of trading activity, not a principal risk-taker.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · MarketAxess Holdings (MKTX)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Elite quality, but a fragile balance sheet and weak growth. Business Quality: Elite; Financial Safety: Strained; Valuation: Full; Growth Durability: Fading; Momentum: Rising.
- quarterly revenue $218M (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 8 of 8
- Altman Z 5.12 · Piotroski F 4
Holding back: balance-sheet strain
Helping: business quality
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 72 | Strong | |
| 66 | Strong | |
| 66 | Strong | |
| 74 | Strong | |
| 74 | Strong | |
| 69 | Strong |
The score moved from 73 in the stored Oct 4, 2026 snapshot to 69 in the current publication computed Oct 5, 2026 (-4); the largest pillar moves were Growth Durability -16 and Momentum -1.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $164.14 | |
| Change on the day | -0.05% | |
| 52-week range | $108.75 – $195.97 | |
| Market capitalisation | $5.78B | |
| Price / earnings (trailing) | 19.33 | |
| Shares traded on the day | 540.9K | |
| Beta (volatility vs the S&P 500) | 0.83 | |
| Dividends per share (last 12 months) | $3.10 | |
| Dividend yield (last 12 months) | 1.89% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
We are continuing to invest in block automation and targeted RFQ solutions, but we also recently launched targeted access, and we expect to launch our new issue block trading solution in the second half of 2026.
Christopher Concannon · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for MarketAxess Holdings (MKTX): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
9-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 11, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 6, 2026, except a card that shows its own read date.
Watch the MKTX film — every key number, told as a short cinematic story
~2 min · open the film
What is MarketAxess Holdings (MKTX), and what does it report?
Short answer · as of
MarketAxess is a financial infrastructure provider, not a capital allocator or principal trader. The platform facilitates all-to-all trading in corporate bonds and other fixed-income securities, earning a commission on each transaction.
Research dated 2026-09-13.
MarketAxess is a financial infrastructure provider, not a capital allocator or principal trader. The platform facilitates all-to-all trading in corporate bonds and other fixed-income securities, earning a commission on each transaction. Beyond commissions, the company sells market data (composite pricing, analytics), post-trade services (settlement, reporting), and technology connectivity—all derived from the trading franchise. The business model is purely mechanical: more trading volume means higher revenue, less volume means lower revenue. Unlike a bank or asset manager, the company faces no credit risk or market risk.
Reported revenue breaks into commission revenue (the lion's share), post-trade and technology services, and information services. Commission revenue tracks directly with trading volume and the value of bonds transacted. Gross margin is extremely high because incremental trades incur minimal marginal cost, but operating expenses are substantial (compliance, infrastructure, talent), so operating margin is lower than gross margin suggests. Operating leverage is powerful: a percent increase in volume can drive several percent increases in operating profit.
What do the latest results show for MarketAxess Holdings (MKTX)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $218M.
Research dated 2026-09-13.
Recent quarters show steady operating profitability with commission revenue at record or near-record levels, indicating strong underlying trading volumes across corporate bond markets. The company has quietly achieved a track record of beating both revenue and earnings estimates over many quarters, suggesting execution discipline and possibly subtle margin expansion as scale increases.
What separates steady results from complacency: the company is investing heavily in automation (block trading automation, targeted RFQ solutions) and new product launches (new issue block trading). These initiatives are not yet producing outsized returns, but they signal management's belief that volume growth will compound once these tools mature. Near-term impact is muted, but if adoption accelerates, operating leverage could drive surprising earnings upside.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $218.41M Jun 30, 2026
- Latest quarter · SG&A
- $21.18M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $89.88M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $218.41M | Not available | $21.18M | $89.88M |
| Mar 31, 2026 | $233.38M | Not available | $0.00 | $100.92M |
| Dec 31, 2025 | $207.40M | Not available | $0.00 | $76.92M |
| Sep 30, 2025 | $210.58M | Not available | $0.00 | $84.61M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $218.00M Jul 30, 2026
- Latest report · revenue estimate
- $216.70M Jul 30, 2026
- Latest report · revenue vs estimate
- Above estimate Jul 30, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 30, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 30, 2026 | $218.00M | $216.70M | $1.9500 | $1.8500 |
| May 7, 2026 | $233.00M | $231.91M | $2.2500 | $2.1500 |
| Feb 6, 2026 | $209.00M | $211.74M | $1.6800 | $1.6500 |
| Nov 7, 2025 | $208.82M | $207.39M | $1.8400 | $1.7000 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $218M | $68M | $1.93 (diluted) |
| Q1 FY2026 | $233M | $78M | $2.20 (diluted) |
| Q4 FY2025 | $207M | $92M | $2.51 (diluted) |
| Q3 FY2025 | $211M | $68M | $1.84 (diluted) |
What are the financial strengths and risks for MarketAxess Holdings (MKTX)?
Short answer
Cash and short-term investments were $245.79M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $26.81M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
The balance sheet is fortress-like by financial services standards. Debt is minimal relative to market value, cash position is substantial, and operating cash flow reliably converts to free cash flow with minimal capex drag. The company returns excess cash to shareholders through dividends and buybacks, though the stock price has declined, reducing the buyback's effectiveness.
The specific risk is not financial distress but franchise stagnation. If competing platforms gain market share or if the market evolves toward decentralized trading (reducing the need for centralized matching), volumes could face structural pressure. However, current data shows stable market share and growing institutional demand for electronic trading infrastructure, so that risk is nascent rather than imminent.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $26.81M Jun 30, 2026
- Previous quarter · operating cash flow
- −$75.33M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $26.81M | −$12.01M |
| Mar 31, 2026 | −$75.33M | −$260,000 |
| Dec 31, 2025 | $158.63M | −$15.08M |
| Sep 30, 2025 | $90.16M | −$12.99M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at MarketAxess Holdings (MKTX)?
Short answer · as of
The next earnings report is expected on Nov 6, 2026.
Research dated 2026-09-13.
Track monthly or quarterly trading volume trends in corporate bond markets—available through Federal Reserve data and industry publications. MarketAxess's volumes tend to trend with overall market activity, so any broad slowdown in bond trading would signal headwinds for the platform. Conversely, rising volatility and market uncertainty often spike trading volumes, which is accretive to MarketAxess revenue.
Watch the adoption rates of the new automation tools and block trading products. Management has been coy about revenue contribution from these initiatives, suggesting they remain immaterial. If management suddenly discloses meaningful adoption or breakeven profitability from new products, it signals an inflection that could drive multi-year earnings growth. Until then, these are experimental and should not drive investment decisions.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
We are continuing to invest in block automation and targeted RFQ solutions, but we also recently launched targeted access, and we expect to launch our new issue block trading solution in the second half of 2026.
Christopher Concannon ·
How does MarketAxess Holdings compare with its peers?
Short answer
MarketAxess Holdings's score ranks tied for 6th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
MarketAxess dominates the U.S. corporate bond electronic trading market and is the leading voice in global fixed-income market infrastructure. This is fundamentally different from a dealer firm that earns spreads and faces counterparty risk. The platform benefits from network effects: more buyers and sellers mean tighter spreads and higher volume, attracting even more participants. High switching costs keep users once they integrate into the platform.
Compared to stock exchanges (pure price discovery and matching), MarketAxess earns both commissions and information services. Compared to dealers (Bloomberg terminal users who match counterparties manually), MarketAxess is faster, cheaper, and more efficient, so it is steadily displacing manual trading. Compared to new blockchain-based trading platforms, MarketAxess has incumbency advantage, regulatory trust, and integrated post-trade infrastructure that new entrants struggle to replicate.
| Company | Price | Market value | Score |
|---|---|---|---|
| $75.21 Oct 5, 2026 | $5.41B | 98 5-pillar Oct 5, 2026 | |
| $62.88 Oct 5, 2026 | $13.3B | 84 5-pillar Oct 5, 2026 | |
| $67.43 Oct 5, 2026 | $8.05B | 77 5-pillar Oct 5, 2026 | |
| $137.95 Oct 5, 2026 | $3.50B | 76 5-pillar Oct 5, 2026 | |
| $12.20 Oct 5, 2026 | $5.78B | 75 5-pillar Oct 5, 2026 | |
| MarketAxess Holdings (MKTX) — this page | $164.14 | $5.78B | 69 |
| $65.63 Oct 5, 2026 | $4.42B | 69 5-pillar Oct 5, 2026 | |
| $56.05 Oct 5, 2026 | $4.15B | 68 5-pillar Oct 5, 2026 | |
| $265.35 Oct 5, 2026 | $10.3B | 68 5-pillar Oct 5, 2026 | |
| $45.84 Oct 5, 2026 | $9.44B | 67 5-pillar Oct 5, 2026 | |
| $126.90 Oct 5, 2026 | $8.87B | 57 5-pillar Oct 5, 2026 | |
| $35.28 Oct 5, 2026 | $3.48B | 57 5-pillar Oct 5, 2026 | |
| $27.94 Oct 5, 2026 | $5.10B | 35 5-pillar Oct 5, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $128.00 – $167.00
- Consensus target
- $142.50
- Median target
- $132.00
Consensus record · Captured .
Measured against a quoted price of $164.14 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Sep 10, 2026
- Transactions
- 24
- Identified insiders
- 13
- Purchases
- 0
- Sales
- 7
- Other transactions
- 17
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Reporting holders
- 416 Period end Jun 30, 2026
- Previous quarter · holders
- 460 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 3,999,836 |
| Primecap Management Co/Ca/ | 3,504,905 |
| North Reef Capital Management LP | 3,395,000 |
| Vanguard Portfolio Management LLC | 2,100,273 |
| Aqr Capital Management LLC | 1,987,288 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about MarketAxess Holdings (MKTX)?
Common Questions About MKTX (Financial Services)
Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
Does MarketAxess face competition from Bloomberg terminals?
Bloomberg terminals remain a hub for manual bond trading and price discovery, but they serve a different function than MarketAxess's automated all-to-all platform. Bloomberg lets traders talk to each other; MarketAxess executes trades without humans in the loop. As institutions increasingly demand speed and cost savings, MarketAxess wins flow from Bloomberg-based relationships. The two coexist rather than competing directly, though automated platforms do erode some high-touch dealer revenue.
How exposed is the company to U.S. Treasury trading volumes?
U.S. Treasuries are a secondary market within MarketAxess's total addressable universe, not the primary driver. Corporate bonds and investment-grade debt dominate the platform's activity. Treasury trading has its own dominant platforms and dealer networks that predate MarketAxess. That said, overall interest rate volatility and treasury yield shifts do influence institutional portfolio activity, which can drive correlated demand across all fixed-income platforms.
What percent of revenue is recurring versus transaction-dependent?
Commission revenue (transaction-dependent) is the bulk of reported revenue—roughly eighty-five percent of total. The remaining fifteen percent comes from information services (subscriptions), connectivity fees (recurring), and post-trade services (partially recurring, partially transaction-dependent). This mix means MarketAxess is highly sensitive to volume cycles but does have a recurring revenue floor that provides stability. A severe market shutdown would hurt, but a mild slowdown keeps base revenue intact.
Why did institutional ownership decline recently?
Institutional ownership fell from previous quarter's thirteen-F snapshot, likely reflecting profit-taking or portfolio rebalancing by large holders rather than negative fundamental catalyst. The company's fundamentals remain solid, so the decline is probably tactical rather than strategic. Readers should monitor whether the decline continues (suggesting sellers have lost confidence) or stabilizes (suggesting the decline was temporary rebalancing).
What is the MKTX stock price today?
The last price recorded on this page for MarketAxess Holdings Inc. (MKTX) is $164.14, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the MKTX price target?
The analyst consensus price target for MarketAxess Holdings Inc. (MKTX) is $142.50 (range $128.00 to $167.00, median $132.00), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Does MKTX pay a dividend?
Yes. MarketAxess Holdings Inc. (MKTX) shows a trailing 12-month dividend yield of 1.89%, as of Oct 2, 2026, in the data on this page. Payout ratio and cash-flow coverage decide whether it can last, and past dividends do not guarantee future payments.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Claude (claude-haiku-4-5) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (79 figures)
The 79 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Christopher Concannon (May 7, 2026): We are continuing to invest in block automation and targeted RFQ solutions, but we also recently launched targeted access, and we expect to launch our new issue block trading solution in the second half of 2026. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | 55 Hudson Yards, 15TH Floor, NEW York, NY, 10001 | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "55 Hudson Yards, New York City, NY, 10001, US". |
FMP — 67 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 6, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $164.14 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T12:35:15.525Z. | |
px.change | Change on the day | -0.05% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $5.78B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:00.000Z. Captured from FMP at 2026-10-05T12:35:13.804Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$0.08 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $218M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 19.33 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 540.9K | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.83 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Christopher Robert Concannon | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 868 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $701.03M, net result $257.89M; FY2022 revenue $718.71M, net result $250.22M; FY2023 revenue $750.90M, net result $258.06M; FY2024 revenue $817.92M, net result $274.18M; FY2025 revenue $849.20M, net result $246.63M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Commission Revenue $734.62M · Post Trade Services $44.49M · Technology Services $13.92M · Information Services $53.23M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 67.5% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $218.41M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $21.18M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $89.88M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $233.38M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $0.00 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $100.92M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $207.40M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $0.00 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $76.92M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $210.58M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $0.00 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $84.61M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-30.revenue_actual | Revenue · reported — report date 2026-07-30 | $218.00M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-30.revenue_estimated | Revenue · estimate — report date 2026-07-30 | $216.70M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-30.eps_actual | EPS · reported — report date 2026-07-30 | $1.9500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-30.eps_estimated | EPS · estimate — report date 2026-07-30 | $1.8500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_actual | Revenue · reported — report date 2026-05-07 | $233.00M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_estimated | Revenue · estimate — report date 2026-05-07 | $231.91M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_actual | EPS · reported — report date 2026-05-07 | $2.2500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_estimated | EPS · estimate — report date 2026-05-07 | $2.1500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-06.revenue_actual | Revenue · reported — report date 2026-02-06 | $209.00M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-06.revenue_estimated | Revenue · estimate — report date 2026-02-06 | $211.74M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-06.eps_actual | EPS · reported — report date 2026-02-06 | $1.6800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-06.eps_estimated | EPS · estimate — report date 2026-02-06 | $1.6500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-07.revenue_actual | Revenue · reported — report date 2025-11-07 | $208.82M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-07.revenue_estimated | Revenue · estimate — report date 2025-11-07 | $207.39M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-07.eps_actual | EPS · reported — report date 2025-11-07 | $1.8400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-07.eps_estimated | EPS · estimate — report date 2025-11-07 | $1.7000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $245.79M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $26.81M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $171.07M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $178.91M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 4.66× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $26.81M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | −$75.33M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$12.01M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$260,000 | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $158.63M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$15.08M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $90.16M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$12.99M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $128.00 – $167.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $142.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $132.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 24 transactions · 0 purchases, 7 sales, 17 other transactions · 13 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Sep 10, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.holders | Reporting holders | 416 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 460 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 3,999,836 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Primecap Management Co/Ca/ — shares in provider snapshot | 3,504,905 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | North Reef Capital Management LP — shares in provider snapshot | 3,395,000 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 2,100,273 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Aqr Capital Management LLC — shares in provider snapshot | 1,987,288 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 3 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 8 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-17 · Expired observation | |
fin.scores | Distress and quality screens | Altman Z 5.12 · Piotroski F 4 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 · Expired observation | |
px.range52 | 52-week range | $108.75 – $195.97 | UNRECORDED | Stored company-profile observation — Captured 2026-10-04 |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 23.52× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $245.79M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $3.10 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-05, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 1.89% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-07-30.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($218.00M) with the recorded estimate ($216.70M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-30.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($1.9500) with the recorded estimate ($1.8500) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 69 of 100 · Strong · pillars 99 / 22 / 42 / 37 / 67 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 73 (stored snapshot Oct 4, 2026) → 69 (current publication computed Oct 5, 2026) (-4) | OURS | Stock Expert AI current score publication and immutable score snapshots |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-30. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-30.revenue_actual,earn.history.depth.2026-07-30.revenue_estimated,earn.history.depth.2026-07-30.revenue_actual.comparison,earn.history.depth.2026-07-30.eps_actual.comparison,earn.history.depth.2026-07-30.eps_actual,earn.history.depth.2026-07-30.eps_estimated,earn.history.depth.2026-05-07.revenue_actual,earn.history.depth.2026-05-07.revenue_estimated,earn.history.depth.2026-05-07.eps_actual,earn.history.depth.2026-05-07.eps_estimated,earn.history.depth.2026-02-06.revenue_actual,earn.history.depth.2026-02-06.revenue_estimated,earn.history.depth.2026-02-06.eps_actual,earn.history.depth.2026-02-06.eps_estimated,earn.history.depth.2025-11-07.revenue_actual,earn.history.depth.2025-11-07.revenue_estimated,earn.history.depth.2025-11-07.eps_actual,earn.history.depth.2025-11-07.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | MarketAxess Holdings Inc. develops and operates a premier electronic trading platform, serving institutional investors and broker-dealers globally. This platform provides essential access to deep liquidity across a broad spectrum of fixed-income assets, including U.S. investment-grade and high-yield corporate bonds, U.S. Treasuries, municipal bonds, emerging market debt, and Eurobonds, among other debt securities. Through its innovative Open Trading protocols, the company facilitates anonymous, "all-to-all" corporate bond transactions between its diverse client base. Beyond its core trading capabilities, MarketAxess offers a comprehensive array of value-added products and services. These include Composite+ pricing and other sophisticated market data tools designed to inform trading strategies, as well as auto-execution and custom workflow solutions. The company also provides robust connectivity to ensure straight-through processing and specialized technology services aimed at optimizing trading environments. Additionally, MarketAxess delivers vital pre- and post-trade support, covering trade matching, publication, regulatory reporting, and extensive market and reference data for a wide range of financial instruments. Founded in 2000, MarketAxess Holdings Inc. maintains its headquarters in New York, New York. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Sector / industry (provider taxonomy) | Financial Services / Financial - Capital Markets The company's SEC filings classify it under SIC 6211 — Security Brokers, Dealers & Flotation Companies. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Commission Revenue: $734.62M; Post Trade Services: $44.49M; Technology Services: $13.92M; Information Services: $53.23M | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-30 | FMP | Financial Modeling Prep (FMP) earnings |
| Management outlook — dated call excerpts | Captured record · 1 entry
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-05-07 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Trailing twelve-month ratio set | Quick ratio: 1.76; Current ratio: 1.76; Debt to equity: 0.14; Net margin: 35.2%; Gross margin: 67.5%; Operating margin: 40.5%; Return on assets: 12.6%; Return on equity: 24.7% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Cash, investments and debt | Total debt: $178.91M; Liquidity basis: cash and short-term investments; Total liabilities: $1.17B; Cash and short-term investments: $245.79M; Cash and investments: $416.90M; Long-term investments: $171.07M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Recent dividends paid | Captured record · 4 entries
Declared amounts per share on their ex-dates. A single payment does not establish an annual rate, and a special dividend is not separated here. | 2026-08-19 | FMP | Financial Modeling Prep (FMP) dividend history |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-13 | FMP | Financial Modeling Prep (FMP) analyst estimates |
| Institutional ownership (13F) | Holders: 415; Quarter: 2026-06-30; Holders previous quarter: 460 13F filings are quarterly and lag the quarter end by up to 45 days. | 2026-06-30 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings |
Data provided for informational purposes only.