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MarketAxess MKTX Q2 2025 earnings

Reported August 6, 2025 · Before market open

Revenue$224.3MBeat by $6.8M
EPS$2.00Beat by $0.06
Revenue estimate$217.5M
EPS estimate$1.94

Next report

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

Financials

Q2 2025

Income statement

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Revenue$219.5M+11.0%
Operating income$91.9M+12.9%
Net income$71.1M+9.6%
EPS (diluted)$1.91+11.0%

Balance sheet

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Cash & equivalents$650.5M+13.3%
Total debt$69.3M-9.1%
Total equity$1.4B+4.3%
Total assets$2.0B+4.7%

Cash flow

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Operating cash flow$103.7M-12.7%
CapEx$1.2M-84.3%
Free cash flow$102.5M-7.8%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$8.35B+10.4%
Enterprise value$7.77B+9.9%
P/E37.5×+8.6×
P/S10×+0.2×

Profitability

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Operating margin41.5%+0.6pp
Net margin26.6%-7.1pp
FCF margin47.8%+7.0pp

Returns & leverage

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Return on equity16.4%-4.6pp
Debt / equity0.1×0.0×

Segments

By product

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Commission Revenue$191.8M+11.7%
Information Services$13.1M+4.3%
Post Trade Services$11.1M+6.5%
Technology Services$3.5M+16.2%

By geography

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US$148.6M—
GB$44.6M—

FAQ

When did MarketAxess report Q2 2025 earnings?
MarketAxess (MKTX) reported Q2 2025 earnings on August 6, 2025 before market open.
What were MarketAxess's Q2 2025 revenue and EPS?
MarketAxess reported revenue of $224.3M and eps of $2.00 for Q2 2025.
Did MarketAxess beat estimates in Q2 2025?
Revenue beat the consensus estimate of $217.5M by $6.8M. EPS beat the consensus estimate of $1.94 by $0.06.
How did MarketAxess's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.5% from $197.7M a year earlier and eps grew 16.3% from $1.72.
Where can I find MarketAxess's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-173982) and the 10-Q periodic report (0000950170-25-103993) directly on SEC EDGAR. The filing index links above go to sec.gov.