What does tax credit carryforward valuation allowance mean?

This is a contra-asset account that reduces the carrying value of tax credit carryforwards when it is more likely than not that some or all of the credits will not be realized. It reflects management's assessment of the company's ability to generate sufficient future taxable income. A high allowance suggests uncertainty regarding the realization of tax benefits.

MarketAxess MKTX Tax Credit Carryforward Valuation Allowance

Tax Credit Carryforward Valuation Allowance at other companies

BGC Group, Inc.BGC

$23.44M-4.0%

Tradeweb Markets Inc.TW

$3.02M+82.7%

Virtu FinancialVIRT

$0—

Interactive Brokers Group, Inc.IBKR

$0—

BlackrockBLK

$181M+162%

Other financials

Income statement

See full

Revenue$233.4M+11.9%

Operating income$100.9M+14.2%

Net income$77.9M+417%

EPS (diluted)$2.20+450%

Balance sheet

See full

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

See full

Operating cash flow-$75.3M-354%

CapEx$259.0K-86.6%

Free cash flow-$75.6M-373%

Valuation

See full

Market cap$4.2B-28.1%

Profitability

See full

Operating margin40.7%-0.6pp

Net margin35.5%+9.0pp

FCF margin31.1%-19.1pp

Returns & leverage

See full

Return on equity24.4%+8.1pp

Debt / equity0.2×+0.2×

Where this comes from

Reported directly by MarketAxess in its filing.

Tagged under the XBRL concept us-gaap:DeferredTaxAssetsValuationAllowance.

The official record: MarketAxess’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MarketAxess's tax credit carryforward valuation allowance?: MarketAxess (MKTX) reported tax credit carryforward valuation allowance of $0 in Q4 2025.
What does tax credit carryforward valuation allowance mean?: This is a contra-asset account that reduces the carrying value of tax credit carryforwards when it is more likely than not that some or all of the credits will not be realized. It reflects management's assessment of the company's ability to generate sufficient future taxable income. A high allowance suggests uncertainty regarding the realization of tax benefits.