What is MarketAxess's acquisitions?

MarketAxess (MKTX) reported acquisitions of $9.13M in Q4 2025.

What does acquisitions mean?

Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

MarketAxess MKTX Acquisitions

Acquisitions at other companies

BGC Group, Inc.BGC

$0-100%

Intercontinental ExchangeICE

$0-100%

StoneX Group Inc.SNEX

$7.9M-1.3%

Axos FinancialAX

$474.45M—

Freedom HoldingFRHC

$215K-98.2%

Broadridge Financial SolutionsBR

$65.2M—

Other financials

Income statement

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Revenue$233.4M+11.9%

Operating income$100.9M+14.2%

Net income$77.9M+417%

EPS (diluted)$2.20+450%

Balance sheet

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Cash & equivalents$548.2M-14.9%

Total debt$292.0M+312%

Total equity$1.2B-11.6%

Total assets$2.3B+22.5%

Cash flow

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Operating cash flow-$75.3M-354%

CapEx$259.0K-86.6%

Free cash flow-$75.6M-373%

Valuation

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Market cap$4.2B-28.1%

Profitability

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Operating margin40.7%-0.6pp

Net margin35.5%+9.0pp

FCF margin31.1%-19.1pp

Returns & leverage

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Return on equity24.4%+8.1pp

Debt / equity0.2×+0.2×

Where this comes from

Reported directly by MarketAxess in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The official record: MarketAxess’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MarketAxess's acquisitions?: MarketAxess (MKTX) reported acquisitions of $9.13M in Q4 2025.
What does acquisitions mean?: Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.