MarketAxess Holdings (MKTX) Financial Statements & Analysis

MarketAxess Holdings (MKTX) Income Statement

MarketAxess Holdings reported revenue of $849.20M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 3.8% from $817.92M a year earlier. Net income was $246.63M, down 10.0% year over year, a net margin of 29.0%. Gross margin was 69.9% and operating margin 41.2%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 30, 2026), revenue was $210.41M, down 0.1% from the same quarter a year earlier.

MarketAxess Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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MarketAxess Holdings Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	849.20	817.92	752.55	718.30	701.03	689.13	511.35	435.57	397.47
Cost of Revenue	255.80	244.32	286.73	252.73	172.24	133.98	97.61	77.78	64.39
Gross Profit	593.40	573.61	465.82	465.57	528.79	555.14	413.74	357.79	333.08
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	0.00	80.24	77.25	0.00	0.00	0.00	0.00	0.00
Operating Expenses	243.44	234.73	150.80	138.69	191.53	180.41	162.86	145.20	131.31
Operating Income	349.96	338.88	315.02	326.88	337.26	374.73	250.88	212.58	201.77
Other Income/Expense
Interest Income	24.40	26.05	22.43	5.04	0.40	2.45	8.06	6.11	3.62
Interest Expense	1.49	1.60	1.98	0.70	0.84	1.14	0.00	0.00	0.00
Other Income/Expense	17.04	21.67	-2.76	7.07	-3.34	-0.37	6.54	5.50	0.00
Income
Income Before Tax	367.00	360.55	332.70	338.29	333.92	374.36	257.42	218.09	201.77
Income Tax Expense	120.08	86.37	74.65	88.06	76.04	74.98	52.52	45.23	53.68
Net Income	246.63	274.18	258.06	250.22	257.89	299.38	204.90	172.85	148.09
Net Income - Continuous Operations	246.63	274.18	258.06	250.22	257.89	299.38	204.90	172.85	148.09
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	452.70	442.61	411.09	406.14	395.01	418.34	290.08	241.17	221.04
EBIT	346.89	362.15	334.68	338.99	337.26	-	-	-	-
Depreciation & Amortization	84.22	80.46	70.56	61.45	60.25	42.84	32.65	23.08	19.27
Earnings Per Share
Basic EPS	7.00	7.00	7.00	7.00	7.00	8.00	6.00	5.00	4.00
Diluted EPS	7.00	7.00	7.00	7.00	7.00	8.00	5.00	5.00	4.00
Basic Shares Outstanding	36.81	37.60	37.55	37.47	37.51	37.36	37.08	36.96	36.86
Diluted Shares Outstanding	36.81	37.67	37.65	37.64	38.10	38.14	37.96	37.86	38.04

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About MarketAxess Holdings Financial Statements

What was MarketAxess Holdings's revenue in fiscal 2025?

MarketAxess Holdings reported revenue of $849.20M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 3.8% from $817.92M a year earlier.

Is MarketAxess Holdings profitable?

Yes. MarketAxess Holdings earned net income of $246.63M in fiscal 2025, a net margin of 29.0%. In fiscal 2024 it earned $274.18M.

What is MarketAxess Holdings's operating margin?

MarketAxess Holdings's operating income was $349.96M on revenue of $849.20M in fiscal 2025, an operating margin of 41.2%, compared with 41.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition