MarketAxess Holdings Inc
Research MarketAxess Holdings Inc (MKTX) on Bullrun: valuation model: 45.9% undervalued, market cap USD 5.78B, P/E 19.2, dividend yield 1.9%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerMKTX
- ExchangeNASDAQ
- CountryUnited States
- SectorFinancial Services
- IndustryCapital Markets
- CurrencyUSD
- Valuation signal45.9% undervalued
- Market capUSD 5.78B
- P/E19.2
- Dividend yield1.9%
- Financial periodQ2 2026
- RevenueUSD 218.42M
- Net incomeUSD 68.11M
- Free cash flowUSD 14.80M
- Gross margin59.7%
Valuation Snapshot
Bullrun's latest valuation model marks MarketAxess Holdings Inc as 45.9% undervalued; latest market cap is USD 5.78B; P/E is 19.2; dividend yield is 1.9%.
Peer valuation comparison
Latest P/E is 19.16x versus a Financial Services sector median of 13.84x (38.5% above).
Latest dividend yield is 1.91% versus a Financial Services sector median of 3.86% (50.5% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 846.27M | USD 246.90M | USD 373.94M | 59.4% | 6.64 | USD 519.73M | USD 220.00M | USD 1.15B |
| FY2024 | USD 817.10M | USD 274.20M | USD 375.30M | 64.4% | 7.28 | USD 544.48M | USD 0 | USD 1.39B |
| FY2023 | USD 752.55M | USD 258.10M | USD 324.44M | 71.9% | 6.85 | USD 451.28M | USD 79.68M | USD 1.29B |
| FY2022 | USD 718.30M | USD 250.20M | USD 276.09M | n/a | 6.65 | USD 430.75M | USD 85.56M | USD 1.08B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 5.78B | 19.2 | 1.9% | 3.1 |
| 2025 | 2025-12-31 | USD 6.48B | 27.2 | 1.7% | 3.04 |
| 2024 | 2024-12-31 | USD 8.51B | 31.0 | 1.3% | 2.96 |
| 2023 | 2023-12-29 | USD 11.10B | 44.4 | 1.0% | 2.88 |
| 2022 | 2022-12-30 | USD 10.50B | 43.3 | 1.0% | 2.8 |
| 2021 | 2021-12-31 | USD 15.59B | 60.7 | 0.6% | 2.64 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 3.1 USD, yield 1.9%.
| Year | Dividends/share |
|---|---|
| FY2025 | 3.04 USD |
| FY2024 | 2.96 USD |
| FY2023 | 2.88 USD |
| FY2022 | 2.8 USD |
About MarketAxess Holdings Inc
MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S. government bonds, and other fixed-income securities;
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Frequently asked questions
Is MarketAxess Holdings Inc overvalued or undervalued?
Bullrun's valuation model currently marks MarketAxess Holdings Inc as 45.9% undervalued.
What is MarketAxess Holdings Inc's market cap?
MarketAxess Holdings Inc's market capitalization is USD 5.78B.
What is MarketAxess Holdings Inc's P/E ratio?
MarketAxess Holdings Inc's price-to-earnings (P/E) ratio is 19.2.
Does MarketAxess Holdings Inc pay a dividend?
MarketAxess Holdings Inc has a dividend yield of 1.9%.
What does MarketAxess Holdings Inc do?
MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.