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MarketAxess MKTX Contract Liabilities

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Segments

By product

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Information Services$3.3M+9.9%
Post Trade Services$1.82M
Technology Services$292K-8.2%

Other financials

Income statement

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Revenue$218.4M-0.5%
Operating income$89.9M-2.2%
Net income$68.1M-4.3%
EPS (diluted)$1.93+1.0%

Balance sheet

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Cash & equivalents$419.7M-35.5%
Total debt$178.9M+158%
Total equity$1.2B-10.6%
Total assets$2.4B+22.6%

Cash flow

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Operating cash flow-$75.3M-354%
CapEx$649.0K-46.2%
Free cash flow-$75.6M-373%

Valuation

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Market cap$5.72B-18.3%
Enterprise value$5.48B-14.7%
P/E18.7×-12.8×
P/S6.6×-1.8×

Profitability

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Operating margin40.5%-1.0pp
Net margin35.2%+8.6pp
FCF margin31.1%-19.1pp

Returns & leverage

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Return on equity23.3%+6.9pp
Debt / equity0.1×+0.1×

Where this comes from

Reported directly by MarketAxess in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: MarketAxess’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-340249
Line itemDecember 31, 2025Revenue billed in advance of services to be performedRevenue recognized for services performed during the periodForeign Currency TranslationJune 30, 2026
Information services$3,343$8,750$(8,793)$3,300
Post-trade services1,37613,121(12,659)(20)1,818
Technology services3124,106(4,126)292
Total deferred revenue$5,031$25,977$(25,578)$(20)$5,410

Item 1. Financial Statements (Unaudited)

FAQ

What is MarketAxess's contract liabilities?
MarketAxess (MKTX) reported contract liabilities of $5.41M in Q2 2026.
How has MarketAxess's contract liabilities changed year-over-year?
MarketAxess's contract liabilities increased by 62.9% year-over-year, from $3.32M to $5.41M.
What is the long-term trend for MarketAxess's contract liabilities?
Over 5 years (2020 to 2025), MarketAxess's contract liabilities has grown at a 3.4% compound annual growth rate (CAGR), from $4.25M to $5.03M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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