Valuation dashboard for MarketAxess Holdings Inc. (MKTX) with P/E 20.25, P/B 4.57, EV/EBITDA 12.9 and dividend yield 1.87%. DCF, Graham Number, EPS growth, peer multiples and dividend discount models plus sector comparison against other Financial Services companies.
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.
What would it be worth at its usual multiples?
Versus its usual multiples: cheap · Current P/E 20.3× · Multiples range: $105.47 · $410.62.
At the decade median (50.3×) $411 (+148 %); at its sector median (12.9×) $105 (-36 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
Analysis Summary
MarketAxess Holdings Inc. reported revenue of $849.2M in the most recent fiscal year, growing at a 5-year CAGR of 4.3%. Net income reached $246.6M, with a -3.8% 5-year CAGR.
Trailing-twelve-month margins: gross margin 74.5%, operating margin 39.3%, net margin 33.6%.
At $165.48 (closing price, November 2, 2026), MKTX trades at a P/E of 20.25 and an ROE of 24.09%. Market capitalisation stands at $5.8B.
Balance sheet quality for MKTX: debt-to-equity ratio of 0.12, current ratio of 1.88 over the last 12 months. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Valuation Ratios
| P/E Ratio | 20.25 |
| Price / Book | 4.57 |
| EV / EBITDA | 12.9 |
| Dividend Yield | 1.87% |
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| MKTX | MarketAxess Holdings Inc. | $5.8B | 20.25 | 4.57 | 24.1% |
| TW | Tradeweb Markets Inc. | $26.8B | 29.11 | 3.94 | 13.8% |
| BGC | BGC Group, Inc | $5.3B | 27.43 | 4.90 | 19.2% |
| MRX | Marex Group Limited | $4.7B | 16.51 | 2.62 | 31.9% |
| MS | Morgan Stanley | $292.9B | 14.85 | 2.46 | 17.9% |
| 0QYU.L | Morgan Stanley | $284.3B | 14.16 | 2.37 | 17.9% |
| GS | The Goldman Sachs Group, Inc. | $261.7B | 12.92 | 2.13 | 17.9% |
| 0L3I.L | The Charles Schwab Corporation | $158.5B | 15.38 | 3.05 | 21.3% |
Price
| Price | $165.48 (closing price, November 2, 2026) |
| Market Cap | $5.8B |
| Exchange | NASDAQ |
| Country | US |
Profitability
| Return on Equity | 24.09% |
| Return on Invested Capital | 19.93% |
| Return on Assets | 12.83% |
| Gross Margin | 74.52% |
| Operating Margin | 39.34% |
| Net Margin | 33.59% |
Related companies: TW · BGC · MRX · MS · 0QYU.L · GS · 0L3I.L · SCHW
Explore sector: Financial Services · Financial - Capital Markets
More sections of MKTX: Overview · Financials · Statistics · Estimates · Technical · Ownership · News · Events
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