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.

MarketAxess MKTX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Operating margin	40.4%-1.3pp	41.7%-0.1pp	41.9%-3.6pp	45.5%-2.7pp
Net margin	29.1%-4.4pp	33.6%-0.7pp	34.3%-0.5pp	34.8%-2.1pp
EBITDA margin	49.5%-1.3pp	50.8%-0.5pp	51.2%-2.8pp	54.1%-1.8pp
Free cash flow margin	44.2%-1.7pp	45.9%+2.8pp	43.1%+4.7pp	38.4%+0.6pp
Returns
Return on equity	19.5%-1.0pp	20.4%-1.3pp	21.7%-1.8pp	23.6%-2.3pp
Return on assets	13.2%-1.2pp	14.4%+0.2pp	14.2%-1.7pp	15.9%-2.1pp
Return on invested capital	45.1%+11.0pp	34.1%-2.1pp	36.1%-8.0pp	44.2%-11.0pp
Efficiency
Asset turnover	0.5×0.0×	0.4×0.0×	0.4×0.0×	0.5×0.0×
Leverage
Debt-to-equity	0.2×+0.2×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×+0.1×	0×0.0×	0×0.0×	0.1×0.0×
Net debt / EBITDA	-0.9×+0.6×	-1.5×-0.1×	-1.4×-0.1×	-1.3×+0.1×
Interest coverage	229.9×+17.0×	212.9×+54.1×	158.9×-308×	467×+66.4×
Per Share
Book value per share	$30.85-16.3%	$36.86+7.4%	$34.34+19.6%	$28.72+5.1%
Valuation
Market capitalization	$6.74B-20.9%	$8.52B-22.9%	$11.05B+5.3%	$10.5B-32.9%
Enterprise value	$6.35B-19.6%	$7.89B-24.9%	$10.52B+5.1%	$10.01B-33.7%
Price / earnings	27.3×-3.8×	31.1×-11.7×	42.8×+0.9×	41.9×-18.7×
Price / sales	8×-2.5×	10.4×-4.3×	14.7×+0.1×	14.6×-7.8×
Price / book	5.9×-0.3×	6.1×-2.4×	8.5×-1.2×	9.7×-5.3×
EV / EBITDA	15.2×-3.9×	19×-8.2×	27.3×+1.5×	25.8×-12.9×
EV / sales	7.5×-2.2×	9.7×-4.3×	14×0.0×	13.9×-7.7×
Free cash flow yield	5.6%+1.1pp	4.4%+1.5pp	2.9%+0.3pp	2.6%+0.9pp
Earnings yield	3.7%+0.4pp	3.2%+0.9pp	2.3%0.0pp	2.4%+0.7pp
Dividend yield	1.7%+0.4pp	1.3%+0.3pp	1%0.0pp	1%+0.4pp

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Questions, answered.

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.