MarketAxess Holdings Inc (MKTX) stock
MKTXNasdaqSecurity Brokers, Dealers & Flotation CompaniesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 14/3014% below fair value
$165.22+0.06 (+0.04%)
Close on Nov 13, 2026Market cap $5.81BP/E 20.2Yield 1.84%
MarketAxess operating margin
Operating margin is operating income as a percentage of revenue.
MarketAxess's operating margin for the twelve months ending Sep 30, 2026 was 39.1%. For fiscal 2025 it was 40.4%, against 41.7% the year before. The highest annual figure on record is 54.4% in fiscal 2020.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 40.4% | −1.3 |
| FY2024 | Dec 31, 2024 | 41.7% | −0.1 |
| FY2023 | Dec 31, 2023 | 41.9% | −3.6 |
| FY2022 | Dec 31, 2022 | 45.5% | −2.7 |
| FY2021 | Dec 31, 2021 | 48.2% | −6.1 |
| FY2020 | Dec 31, 2020 | 54.4% | +5.3 |
| FY2019 | Dec 31, 2019 | 49.1% | +0.3 |
| FY2018 | Dec 31, 2018 | 48.8% | −1.9 |
| FY2017 | Dec 31, 2017 | 50.7% | −0.9 |
| FY2016 | Dec 31, 2016 | 51.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 35.4% | −5.6 |
| Q2 FY2026 | Jun 30, 2026 | 41.1% | −0.7 |
| Q1 FY2026 | Mar 31, 2026 | 43.2% | +0.9 |
| Q4 FY2025 | Dec 31, 2025 | 36.3% | −3.2 |
| Q3 FY2025 | Sep 30, 2025 | 41.0% | −1.1 |
| Q2 FY2025 | Jun 30, 2025 | 41.9% | +0.7 |
| Q1 FY2025 | Mar 31, 2025 | 42.4% | −1.6 |
| Q4 FY2024 | Dec 31, 2024 | 39.5% | +0.5 |
| Q3 FY2024 | Sep 30, 2024 | 42.1% | +3.3 |
| Q2 FY2024 | Jun 30, 2024 | 41.2% | −1.0 |
| Q1 FY2024 | Mar 31, 2024 | 44.0% | −3.0 |
| Q4 FY2023 | Dec 31, 2023 | 39.1% | −4.6 |
| Q3 FY2023 | Sep 30, 2023 | 38.8% | −5.5 |
| Q2 FY2023 | Jun 30, 2023 | 42.1% | −4.4 |
| Q1 FY2023 | Mar 31, 2023 | 46.9% | −0.4 |
| Q4 FY2022 | Dec 31, 2022 | 43.7% | −0.3 |
| Q3 FY2022 | Sep 30, 2022 | 44.3% | −1.3 |
| Q2 FY2022 | Jun 30, 2022 | 46.5% | −2.9 |
| Q1 FY2022 | Mar 31, 2022 | 47.4% | −5.6 |
| Q4 FY2021 | Dec 31, 2021 | 44.0% | −9.5 |
| Q3 FY2021 | Sep 30, 2021 | 45.7% | −7.9 |
| Q2 FY2021 | Jun 30, 2021 | 49.4% | −6.9 |
| Q1 FY2021 | Mar 31, 2021 | 52.9% | −1.0 |
| Q4 FY2020 | Dec 31, 2020 | 53.5% | +6.6 |
| Q3 FY2020 | Sep 30, 2020 | 53.5% | +3.4 |
| Q2 FY2020 | Jun 30, 2020 | 56.4% | +7.8 |
| Q1 FY2020 | Mar 31, 2020 | 53.9% | +3.1 |
| Q4 FY2019 | Dec 31, 2019 | 46.9% | −1.1 |
| Q3 FY2019 | Sep 30, 2019 | 50.1% | +4.4 |
| Q2 FY2019 | Jun 30, 2019 | 48.5% | −0.1 |
| Q1 FY2019 | Mar 31, 2019 | 50.8% | −1.7 |
| Q4 FY2018 | Dec 31, 2018 | 48.0% | −1.6 |
| Q3 FY2018 | Sep 30, 2018 | 45.8% | −3.0 |
| Q2 FY2018 | Jun 30, 2018 | 48.6% | −2.2 |
| Q1 FY2018 | Mar 31, 2018 | 52.5% | −1.1 |
| Q4 FY2017 | Dec 31, 2017 | 49.6% | – |
| Q3 FY2017 | Sep 30, 2017 | 48.8% | – |
| Q2 FY2017 | Jun 30, 2017 | 50.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 53.6% | – |
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