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MarketAxess MKTX Q1 2025 earnings

Reported May 7, 2025 · Before market open

Revenue$208.6MMiss by $1.5M
EPS$1.87Beat by $0.06
Revenue estimate$210.1M
EPS estimate$1.81

Next report

Nov 6, 2026 (in a month)
Revenue estimate$219.8M
EPS estimate$1.95

Financials

Q1 2025

Income statement

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Revenue$208.6M-0.8%
Operating income$88.4M-4.5%
Net income$15.1M-79.3%
EPS (diluted)$0.40-79.2%

Balance sheet

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Cash & equivalents$644.5M+20.4%
Total debt$70.9M-9.4%
Total equity$1.3B+2.2%
Total assets$1.9B-2.5%

Cash flow

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Operating cash flow$29.6M+699%
CapEx$1.9M+61.2%
Free cash flow$27.7M+551%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$8.15B-1.4%
Enterprise value$7.58B-3.0%
P/E37.6×+5.5×
P/S10×-0.9×

Profitability

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Operating margin41.3%+0.2pp
Net margin26.6%-7.3pp
FCF margin50.2%+9.2pp

Returns & leverage

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Return on equity16.3%-4.8pp
Debt / equity0.1×0.0×

Segments

By product

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Commission Revenue$181.3M-1.9%
Information Services$12.9M+8.6%
Post Trade Services$11.1M+3.3%
Technology Services$3.2M+14.4%

By geography

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US$142.7M—
GB$42.7M—

FAQ

When did MarketAxess report Q1 2025 earnings?
MarketAxess (MKTX) reported Q1 2025 earnings on May 7, 2025 before market open.
What were MarketAxess's Q1 2025 revenue and EPS?
MarketAxess reported revenue of $208.6M and eps of $1.87 for Q1 2025.
Did MarketAxess beat estimates in Q1 2025?
Revenue missed the consensus estimate of $210.1M by $1.5M. EPS beat the consensus estimate of $1.81 by $0.06.
How did MarketAxess's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.8% from $210.3M a year earlier and eps declined 2.6% from $1.92.
Where can I find MarketAxess's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-114350) and the 10-Q periodic report (0000950170-25-065612) directly on SEC EDGAR. The filing index links above go to sec.gov.