MARKETAXESS HOLDINGS INC(MKTX)— Stock Profile, AI Score & Financials
Financials · Nasdaq · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
MARKETAXESS HOLDINGS INC (MKTX) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores MKTX at 63.1/100 on a 32-signal composite quality model, placing it at rank #658 of 2,961 stocks — the top 25% of the AI-ranked universe. MKTX scores in the top quartile across profitability (95.4), balance sheet strength (91.7), free cash flow (75.7). Areas of concern include earnings quality (21.4), which score below median versus the broader universe. Shareholder dilution risk is elevated at 29.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), MARKETAXESS HOLDINGS INC reports quarterly revenue of $218.4M, net income of $68.1M, an operating margin of 41.1%. Top institutional holders of MKTX by reported 13-F value include BlackRock, PRIMECAP MANAGEMENT, North Reef Capital Management, based on the most recent SEC filings. MKTX trades on the Nasdaq exchange and files with the SEC under CIK 1278021. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MKTX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MARKETAXESS HOLDINGS INC directly from SEC EDGAR.
AI Quality Score
63.1/100
AI Rank
#658
Revenue
$218.4M
Net Income
$68.1M
Free Cash Flow
$26.2M
Operating Margin
41.1%
MKTX key financials by period
MARKETAXESS HOLDINGS INC reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$846.3M
$246.6M
40.4%
FY 2024
10-K
$817.1M
$274.2M
41.7%
FY 2023
10-K
$773.0M
$258.1M
40.8%
FY 2022
10-K
$722.6M
$250.2M
45.2%
FY 2021
10-K
$698.5M
$257.9M
48.3%
FY 2020
10-K
$690.4M
$299.4M
54.3%
Institutions holding MKTX
Institutional investors reporting a position in MARKETAXESS HOLDINGS INC on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
MarketAxess Q1 2026 net income surged 418% to $78.1M on 12% revenue growth to $233.4M, driven by 17% credit volume increase and higher rates trading despite 5% decline in credit fees per million.
Biggest Revenue Drivers
Commissions$203.5M+12.2% YoY
Credit variable transaction fees rose 10.7% on 17.0% volume growth; rates fees up 28.9% on 15.6% volume increase; credit average fee per million fell 5.0% due to protocol and product mix.
Information services$14.4M+11.9% YoY
Net new contract revenue and positive foreign currency impact.
Biggest Revenue Drivers
Total revenue: $233.4M+11.9% YoY
Commissions$203.5M+12.2% YoY
Credit variable transaction fees rose 10.7% on 17.0% volume growth; rates fees up 28.9% on 15.6% volume increase; credit average fee per million fell 5.0% due to protocol and product mix.
Information services$14.4M+11.9% YoY
Net new contract revenue and positive foreign currency impact.
Post-trade services$11.6M+4.7% YoY
Positive foreign currency impacts.
Technology services$3.9M+19.0% YoY
Higher license and connectivity fees.
Largest Expense Items
Employee compensation and benefits$70.2M+13.4% YoY
Higher salary, benefit costs and severance including management restructuring charges.
Technology and communications$20.4M+12.8% YoY
Higher cloud hosting and software service costs.
Depreciation and amortization$19.2M+5.3% YoY
Higher software development and intangible asset amortization.
General and administrative$5.7M+0.4% YoY
Margins: Operating margin expanded to 43.2% from 42.4% YoY despite 10.2% expense growth, as revenue growth at 11.9% outpaced cost increases. Excluding repositioning charges, operating margin was 44.2%, demonstrating underlying operational leverage.
Watch Items from the Filing
U.S. high-grade market share declined to 17.1% from 18.0% YoY despite 10.9% volume growth, indicating competitive pressure or client activity concentration shifts.
Credit average variable transaction fee per million declined 5.0% YoY; continued protocol and product mix shifts toward lower-fee portfolio trading could pressure margin.
RFQ-hub acquisition integration contributing to 'Other' commission revenue ($10.7M, +104.5% YoY); profitability and synergy realization uncertain given early stage.
Effective tax rate normalized to 24.8% from elevated 84.3% prior year, which included $54.9M reserve for uncertain tax positions; prior-year Q1 2025 rate was materially distorted.
Operating cash flow negative $75.3M vs. positive $29.6M prior year; driven by $479.3M increase in broker-dealer receivables supporting self-clearing operations, a structural working capital swing.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
