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MarketAxess MKTX Return on invested capital

Return on invested capital at other companies

BGC Group, Inc. logo
BGC Group, Inc.BGC
13.1%+1.1pp
CME Group logo
CME GroupCME
15.4%+1.6pp
Intercontinental Exchange logo
Intercontinental ExchangeICE
8.5%+1.4pp
Tradeweb Markets Inc. logo
Tradeweb Markets Inc.TW
15.2%+2.7pp
Virtu Financial logo
Virtu FinancialVIRT
59.4%+18.1pp
Nasdaq, Inc. logo
Nasdaq, Inc.NDAQ
10.6%+1.4pp

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
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

Calculated from MarketAxess’s reported figures.

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 return on invested capital?
MarketAxess (MKTX) reported return on invested capital of 41.5% in Q1 2026.
How has MarketAxess's return on invested capital changed year-over-year?
MarketAxess's return on invested capital increased by 67.4% year-over-year, from 24.8% to 41.5%.
What is the long-term trend for MarketAxess's return on invested capital?
Over 5 years (2020 to 2025), MarketAxess's return on invested capital has grown at a -4.9% compound annual growth rate (CAGR), from 57.9% to 45.1%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.