What is MarketAxess's net margin?

MarketAxess (MKTX) reported net margin of 35.5% in Q1 2026.

How has MarketAxess's net margin changed year-over-year?

MarketAxess's net margin increased by 33.7% year-over-year, from 26.6% to 35.5%.

What is the long-term trend for MarketAxess's net margin?

Over 5 years (2020 to 2025), MarketAxess's net margin has grown at a -7.7% compound annual growth rate (CAGR), from 43.4% to 29.1%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

MarketAxess MKTX Net margin

Net margin at other companies

BGC Group, Inc.BGC

5.7%+0.2pp

CME GroupCME

63.6%+5.9pp

Intercontinental ExchangeICE

30.1%+7.2pp

Tradeweb Markets Inc.TW

40.3%+11.6pp

StoneX Group Inc.SNEX

17.6%+2.1pp

Virtu FinancialVIRT

14.2%+3.7pp

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$4.28B-28.1%

Enterprise value$4.02B-26.0%

P/E13.8×-13.6×

P/S4.9×-2.4×

Profitability

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Operating margin40.7%-0.6pp

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

Calculated from MarketAxess’s reported figures.

net income/total revenue=35.5%

Based on trailing twelve months.

The official record: MarketAxess’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MarketAxess's net margin?: MarketAxess (MKTX) reported net margin of 35.5% in Q1 2026.
How has MarketAxess's net margin changed year-over-year?: MarketAxess's net margin increased by 33.7% year-over-year, from 26.6% to 35.5%.
What is the long-term trend for MarketAxess's net margin?: Over 5 years (2020 to 2025), MarketAxess's net margin has grown at a -7.7% compound annual growth rate (CAGR), from 43.4% to 29.1%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.