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MarketAxess MKTX Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Operating margin40.5%-1.0pp40.7%-0.6pp40.4%-1.3pp41.2%-0.4pp41.5%+0.6pp
Net margin35.2%+8.6pp35.5%+9.0pp29.1%-4.4pp26.2%-8.2pp26.6%-7.1pp
Returns
Return on equity23.3%+6.9pp24.4%+8.1pp19.5%-1.0pp15.9%-5.7pp16.4%-4.6pp
Return on invested capital39.1%+13.6pp41.5%+16.7pp45.1%+11.0pp24.6%-9.4pp25.5%-6.9pp
Efficiency
Asset turnover0.4×0.0×0.4×0.0×0.5×0.0×0.4×0.0×0.4×0.0×
Leverage
Debt-to-equity0.1×+0.1×0.2×+0.2×0.2×+0.2×0.0×0.1×0.0×
Net debt / EBITDA-0.6×+0.8×-0.6×+0.8×-0.9×+0.6×-1.4×-0.1×-1.4×-0.1×
Per Share
Book value per share$35.15-5.4%$33.64-6.5%$30.85-16.3%$37.15+0.8%$37.17+5.4%
Valuation
Market capitalization$5.72B-18.3%$5.86B-28.1%$6.74B-20.9%$6.51B-32.5%$8.35B+10.4%
Price / earnings18.7×-12.8×19×-18.7×27.3×-3.8×29.7×-5.0×37.5×+8.6×
Price / sales6.6×-1.8×6.7×-3.3×-2.5×7.8×-4.1×10×+0.2×
Price / book4.6×-0.4×4.9×-1.1×5.9×-0.3×4.7×-2.2×+0.3×
EV / EBITDA12.7×-2.5×13×-5.5×15.2×-3.9×14.1×-8.0×18.4×+0.4×
Dividend yield2%+0.4pp1.9%+0.6pp1.7%+0.4pp1.8%+0.6pp1.4%-0.1pp

FAQ

Where do MarketAxess's ratios come from?
Every ratio is computed from MarketAxess's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.