MarketAxess Holdings Inc. Common Stock (MKTX)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

MarketAxess is an asset-light electronic bond marketplace, and that kind of network can be a real moat: if liquidity begets liquidity, customers stay. At $164.45 on 2026-10-13, FairStock puts the P/E at 19.44, P/B at 4.67, ROE at 23.14%, ROCE at 10.15% and D/E at only 0.14. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, had revenue of $218.4M and net income of $68.1M, or $1.93 diluted EPS; that compares with fiscal Q2 2025 revenue of $219.5M, net income of $71.1M and $1.91 diluted EPS. So revenue and net income slipped year over year, while EPS edged up. Fiscal Q1 2026 was stronger: revenue $233.4M, net income $77.9M and EPS $2.20. For the full year fiscal 2025, revenue was $846.3M and net income $246.6M, or $6.64 diluted EPS, versus fiscal 2024 revenue of $817.1M, net income of $274.2M and EPS of $7.28. Revenue has grown, but profit has not kept pace. The computed Lynch category is SLOW GROWER — Shrinking: profit -3.8% a year over five years, revenue 4.2%. A Piotroski F-Score of 5/9 is middling. The PEG of 0.05 is a FairStock calculation, but I discount it because profit growth has been volatile. CET1, net interest margin and combined ratio are not in the data; as a trading intermediary, credit/underwriting risk does not appear central. Price looks fair for a high-return, low-leverage platform, but only if growth reaccelerates. Otherwise, P/B 4.67 leaves little room for disappointment.

In plain English: MarketAxess runs an electronic marketplace where large investors trade bonds. The business is very profitable and carries little debt, but sales and profits have been uneven and profit slipped in fiscal 2025. At the recent price of $164.45, the shares look roughly fair against earnings, though slow recent growth makes it hard to call them a clear bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer