MARKETAXESS HOLDINGS INC. Financials MarketAxess Holdings Inc.
Equities
MKTX
US57060D1081
Financial & Commodity Market Operators
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 201.8 USD | +0.10% |
|
-1.09% | -31.09% |
| 04-24 | John Chevedden Submits a Shareholder Proposal to MarketAxess Holdings | CI |
| 04-12 | John Chevedden Submits a Shareholder Proposal to MarketAxess Holdings | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,377 | 21,660 | 15,639 | 10,497 | 11,101 | 7,588 | - | - |
| Enterprise Value (EV) 1 | 14,107 | 21,200 | 15,082 | 10,015 | 10,604 | 6,902 | 6,768 | 6,454 |
| P/E ratio | 70.2 x | 72.7 x | 60.7 x | 41.9 x | 42.8 x | 27.7 x | 24.5 x | 21.5 x |
| Yield | 0.54% | 0.42% | 0.64% | 1% | 0.98% | 1.49% | 1.56% | 1.73% |
| Capitalization / Revenue | 28.1 x | 31.4 x | 22.4 x | 14.6 x | 14.8 x | 9.14 x | 8.28 x | 7.53 x |
| EV / Revenue | 27.6 x | 30.8 x | 21.6 x | 13.9 x | 14.1 x | 8.32 x | 7.38 x | 6.4 x |
| EV / EBITDA | 49.4 x | 51.5 x | 38.9 x | 25 x | 27.7 x | 16.3 x | 14.3 x | 12.1 x |
| EV / FCF | 62.1 x | 62.3 x | 50.8 x | 42.2 x | 37.7 x | 23.1 x | 20.4 x | 16.4 x |
| FCF Yield | 1.61% | 1.6% | 1.97% | 2.37% | 2.65% | 4.34% | 4.9% | 6.1% |
| Price to Book | 18.3 x | 22.7 x | 15 x | 9.71 x | 8.58 x | 5.19 x | 4.6 x | 4.06 x |
| Nbr of stocks (in thousands) | 37,924 | 37,963 | 38,026 | 37,637 | 37,905 | 37,603 | - | - |
| Reference price 2 | 379.1 | 570.6 | 411.3 | 278.9 | 292.8 | 201.8 | 201.8 | 201.8 |
| Announcement Date | 29/01/20 | 27/01/21 | 26/01/22 | 25/01/23 | 31/01/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 511.4 | 689.1 | 699 | 718.3 | 752.5 | 829.8 | 917 | 1,008 |
| EBITDA 1 | 285.4 | 411.5 | 388.2 | 400.4 | 382.8 | 422.3 | 473.5 | 533.6 |
| EBIT 1 | 252 | 374.7 | 337.2 | 326.9 | 315 | 342.5 | 387.2 | 443 |
| Operating Margin | 49.28% | 54.38% | 48.25% | 45.51% | 41.86% | 41.28% | 42.23% | 43.96% |
| Earnings before Tax (EBT) 1 | 257.4 | 374.4 | 333.9 | 338.3 | 332.7 | 363.6 | 415.2 | 470.7 |
| Net income 1 | 204.9 | 299.4 | 257.9 | 250.2 | 258.1 | 275.8 | 311.8 | 354.9 |
| Net margin | 40.07% | 43.44% | 36.9% | 34.84% | 34.29% | 33.24% | 34% | 35.22% |
| EPS 2 | 5.400 | 7.850 | 6.770 | 6.650 | 6.850 | 7.272 | 8.236 | 9.383 |
| Free Cash Flow 1 | 227.2 | 340.2 | 296.7 | 237.4 | 281.3 | 299.3 | 331.3 | 393.5 |
| FCF margin | 44.43% | 49.37% | 42.45% | 33.04% | 37.38% | 36.07% | 36.13% | 39.05% |
| FCF Conversion (EBITDA) | 79.61% | 82.67% | 76.43% | 59.28% | 73.49% | 70.88% | 69.98% | 73.75% |
| FCF Conversion (Net income) | 110.88% | 113.63% | 115.05% | 94.86% | 109.02% | 108.53% | 106.27% | 110.87% |
| Dividend per Share 2 | 2.040 | 2.400 | 2.640 | 2.800 | 2.880 | 3.004 | 3.158 | 3.492 |
| Announcement Date | 29/01/20 | 27/01/21 | 26/01/22 | 25/01/23 | 31/01/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 162.1 | 165.1 | 186.1 | 182.2 | 172.1 | 177.9 | 203.2 | 179.8 | 172.3 | 197.2 | 213 | 203.8 | 202.2 | 213.3 | 236.8 |
| EBITDA 1 | 88.77 | 86.35 | 105.8 | 105.2 | 94.3 | 95.21 | 110.5 | 90.7 | 82.88 | 98.7 | 110.5 | 105.4 | 105 | 104.5 | 122 |
| EBIT 1 | 74 | 72.58 | 88.1 | 84.79 | 76.31 | 77.67 | 95.36 | 75.73 | 66.91 | 77.03 | 89.46 | 85.13 | 83.28 | 85.37 | 102.8 |
| Operating Margin | 45.65% | 43.97% | 47.35% | 46.53% | 44.34% | 43.66% | 46.93% | 42.11% | 38.84% | 39.05% | 42.01% | 41.77% | 41.18% | 40.02% | 43.42% |
| Earnings before Tax (EBT) 1 | 74.49 | 71.58 | 90.42 | 89.58 | 78.86 | 79.43 | 98.2 | 78.95 | 71.74 | 83.81 | 93.85 | 93.17 | 89.82 | 92.26 | 108.9 |
| Net income 1 | 57.96 | 52.18 | 64.77 | 66.92 | 59.31 | 59.23 | 73.63 | 59.86 | 54.94 | 69.63 | 71.51 | 70.72 | 68.18 | 69.27 | 82.54 |
| Net margin | 35.76% | 31.62% | 34.81% | 36.72% | 34.46% | 33.29% | 36.24% | 33.28% | 31.89% | 35.3% | 33.58% | 34.7% | 33.71% | 32.48% | 34.85% |
| EPS 2 | 1.520 | 1.370 | 1.710 | 1.780 | 1.580 | 1.580 | 1.960 | 1.590 | 1.460 | 1.840 | 1.871 | 1.783 | 1.765 | 1.809 | 2.169 |
| Dividend per Share 2 | 0.6600 | 0.6600 | 0.7000 | 0.7000 | 0.7000 | 0.7000 | 0.7200 | 0.7200 | 0.7200 | 0.7200 | 0.7500 | 0.7500 | 0.7500 | 0.7500 | 0.3800 |
| Announcement Date | 20/10/21 | 26/01/22 | 20/04/22 | 20/07/22 | 19/10/22 | 25/01/23 | 26/04/23 | 20/07/23 | 25/10/23 | 31/01/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 270 | 461 | 557 | 482 | 496 | 686 | 820 | 1,134 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 227 | 340 | 297 | 237 | 281 | 299 | 331 | 394 |
| ROE (net income / shareholders' equity) | 29.7% | 34.7% | 25% | 23.6% | 22.6% | 20.3% | 20.8% | 20.6% |
| ROA (Net income/ Total Assets) | 24.8% | 26.2% | 18% | 15.9% | 14.8% | 13.3% | 13.3% | 13.2% |
| Assets 1 | 825.2 | 1,143 | 1,431 | 1,569 | 1,744 | 2,079 | 2,350 | 2,689 |
| Book Value Per Share 2 | 20.80 | 25.10 | 27.50 | 28.70 | 34.10 | 38.90 | 43.90 | 49.70 |
| Cash Flow per Share 2 | 7.010 | 10.60 | 7.400 | 7.680 | 8.860 | 8.430 | 10.10 | - |
| Capex 1 | 34.7 | 45.6 | 50.6 | 51.9 | 52.4 | 59.7 | 63.4 | 70.5 |
| Capex / Sales | 6.79% | 6.62% | 7.24% | 7.22% | 6.97% | 7.19% | 6.91% | 6.99% |
| Announcement Date | 29/01/20 | 27/01/21 | 26/01/22 | 25/01/23 | 31/01/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
201.8
USD
Average target price
252.5
USD
Spread / Average Target
+25.15%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -31.09% | 7.59B | |
| +2.55% | 75.52B | |
| -3.67% | 59.47B | |
| -6.64% | 40.42B | |
| -2.06% | 36.1B | |
| +3.41% | 34.86B | |
| -22.89% | 12.29B | |
| +7.31% | 9.34B | |
| -5.29% | 7.31B | |
| +13.51% | 7.36B |
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