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MarketAxess Holdings (MKTX)
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MarketAxess Holdings Income Statement 2025-2008 | MKTX
Brief overview of profit and loss at MarketAxess Holdings
The overview follows changes across a five-year period. Revenue at MarketAxess Holdings moved from 689 million dollars in 2020 to 846 million dollars in 2025. The total change was +22.8%, with a CAGR of approximately 4.2%. The scale of the core business was largely unchanged.
The net result moved from $299 million to $247 million, or −17.5%. The final result developed less favorably than the core business.
Over the period, capitalization shifted from 20.1 billion dollars to 6.7 billion dollars (−66.4%). Investors responded cautiously to the improvement in the business.
Conclusion
The current trajectory does not yet confirm a sustainable recovery. The overall view is constrained by declining capitalization, a weaker final result and weak sales momentum. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement MarketAxess Holdings
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
6.75 B | 7.27 B | 8.02 B | 13.1 B | 12.9 B | 20.1 B | 13.3 B | 7.77 B | 7.07 B | 6.68 B | 4.26 B | 2.81 B | 2.34 B | 1.37 B | 1.14 B | 467 M | 362 M | - |
Shares |
37.1 M | 37.6 M | 37.5 M | 37.5 M | 37.5 M | 37.4 M | 37.1 M | 37 M | 36.9 M | 36.8 M | 36.7 M | 36.9 M | 36.9 M | 36.5 M | 37 M | 33.2 M | 33.3 M | - |
Historical Prices |
182 | 193 | 214 | 351 | 344 | 538 | 350 | 211 | 191 | 181 | 112 | 72.2 | 59 | 35.1 | 28.5 | 14.1 | 10.9 | 7.49 |
Net Income |
247 M | 274 M | 258 M | 250 M | 258 M | 299 M | 205 M | 173 M | 148 M | 126 M | 96 M | 74.8 M | 76 M | 60.1 M | 47.7 M | 31.4 M | 16.1 M | - |
Revenue |
846 M | 817 M | 753 M | 718 M | 699 M | 689 M | 511 M | 436 M | 397 M | 370 M | 303 M | 263 M | 239 M | 198 M | 181 M | 146 M | 114 M | - |
Cost of Revenue |
249 M | 236 M | 207 M | 182 M | 171 M | 157 M | 131 M | 109 M | 102 M | 96.6 M | 83.9 M | 75 M | 64.4 M | 54.7 M | 52.4 M | 56.4 M | 50.3 M | - |
Gross Profit |
- | - | - | - | - | - | 380 M | 326 M | 295 M | 273 M | 219 M | 188 M | 174 M | 138 M | 122 M | - | - | - |
Operating Income |
342 M | 341 M | 315 M | 327 M | 337 M | 375 M | 251 M | 213 M | 200 M | 190 M | - | - | - | - | - | - | - | - |
Interest Expense |
1.79 M | -6.16 M | 1.98 M | 700 K | 842 K | 1.14 M | -1.52 M | -610 K | -1.47 M | -520 K | - | - | - | - | - | - | - | - |
EBITDA |
419 M | 415 M | 386 M | 388 M | 391 M | 411 M | 278 M | 236 M | 221 M | 209 M | 166 M | 136 M | 121 M | 94.9 M | 85.5 M | 6.35 M | 6.79 M | - |
Operating Expenses |
504 M | 476 M | 438 M | 391 M | 362 M | 314 M | 129 M | 114 M | 93 M | 81.5 M | 71.3 M | 69.2 M | 67 M | 51.2 M | 43.6 M | - | - | - |
General and Administrative Expenses |
26.6 M | 22.7 M | 23 M | 19.2 M | 14.5 M | 12.7 M | 79.7 M | 70.9 M | 58.1 M | 54.8 M | 46.7 M | 46.1 M | 48.3 M | 37.5 M | 31.9 M | 7.96 M | 6.01 M | - |
All numbers in USD currency
Quarterly Income Statement MarketAxess Holdings
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
35.2 M | 35.3 M | 37 M | 37.2 M | 37.4 M | 37.6 M | 37.5 M | 37.7 M | 37.7 M | 37.9 M | 37.5 M | 37.5 M | 37.5 M | 37.6 M | 37.5 M | 37.5 M | 37.4 M | 37.9 M | 37.5 M | 37.5 M | 37.5 M | 38 M | 37.4 M | 37.3 M | 37.3 M | 37.9 M | 37.1 M | 37 M | 37 M | 37.6 M | 37 M | 37 M | 37 M | 37.6 M | 36.9 M | 36.9 M | 36.8 M | 37.5 M | 36.9 M | 36.9 M | 36.8 M | 37.4 M | 36.7 M | 36.7 M | 36.7 M | 37.3 M | 36.9 M | 37 M | 37.1 M | 37.7 M | 36.9 M | 36.9 M | 36.8 M | - | 36.5 M | 36.1 M | 36.9 M | - | 37.1 K | 36.8 K | 36.5 K |
Net Income |
68.1 M | 77.9 M | 68.2 M | 71.1 M | 15.1 M | - | 71.5 M | 64.9 M | 72.6 M | - | 54.9 M | 59.9 M | 73.6 M | - | 59.3 M | 66.9 M | 64.8 M | - | 58 M | 67.3 M | 80.5 M | - | 67.8 M | 83.9 M | 74.8 M | - | 54 M | 48.1 M | 52.5 M | - | 38.6 M | 40.5 M | 47.9 M | - | 34.1 M | 38 M | 42.5 M | - | 30.9 M | 33.1 M | 29 M | - | 22.7 M | 24.2 M | 24.6 M | - | 17.5 M | 18.2 M | 17.5 M | - | 18.2 M | 19.3 M | 15.3 M | - | 13.5 M | 12.6 M | 13.5 M | - | 13.4 M | 11.9 M | 10.8 M |
Revenue |
218 M | 233 M | 209 M | 219 M | 209 M | - | 207 M | 198 M | 210 M | - | 172 M | 180 M | 203 M | - | 172 M | 182 M | 186 M | - | 162 M | 176 M | 195 M | - | 164 M | 185 M | 169 M | - | 132 M | 125 M | 124 M | - | 101 M | 107 M | 115 M | - | 96.7 M | 97.3 M | 103 M | - | 90.3 M | 96.6 M | 88.6 M | - | 74.2 M | 75.5 M | 76.8 M | - | 64.2 M | 65 M | 63.4 M | - | 61.1 M | 63.5 M | 53.7 M | - | 46.4 M | 48.8 M | 50.7 M | - | 46.6 M | 45.8 M | 43.6 M |
Cost of Revenue |
62.2 M | 70.2 M | 60 M | 65.2 M | 61.9 M | - | 58.4 M | 56.8 M | 61.3 M | - | 48.9 M | 48.4 M | 52.3 M | - | 44.8 M | 45.4 M | 47.8 M | - | 40.9 M | 40.7 M | 48.1 M | - | 37.6 M | 41.6 M | 41.2 M | - | 32.7 M | 32.6 M | 32.7 M | - | 26.3 M | 26.2 M | 28.8 M | - | 25.5 M | 25.3 M | 27.3 M | - | 23.9 M | 25.8 M | 24.5 M | - | 21 M | 20.6 M | 21.2 M | - | 18.6 M | 18.4 M | 18.6 M | - | 17.9 M | 14.7 M | 15 M | - | 13.4 M | 15.3 M | 15.8 M | - | 13.7 M | 15.1 M | 16.3 M |
Operating Income |
89.9 M | 101 M | 85.6 M | 91.9 M | 88.4 M | - | 87.1 M | 81.3 M | 92.5 M | - | 66.9 M | 75.7 M | 95.4 M | - | 76.3 M | 84.8 M | 88.1 M | - | 74 M | 87.2 M | 103 M | - | 87.8 M | 104 M | 91.1 M | - | 66 M | 60.9 M | 63.2 M | - | 46.4 M | 52 M | 60.2 M | - | 46.6 M | 49 M | 55.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
-2.94 M | 1.54 M | 2.38 M | -407 K | 527 K | - | -1.1 M | -1.14 M | -1.81 M | - | -1.72 M | 53 K | 130 K | - | 138 K | 337 K | 173 K | - | 314 K | 171 K | 191 K | - | 1.05 M | -446 K | -656 K | - | -838 K | -64 K | 42 K | - | -250 K | -207 K | -328 K | - | -382 K | -252 K | -298 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
128 M | 120 M | 105 M | 111 M | 107 M | - | 106 M | 99.7 M | 111 M | - | 84.5 M | 92.7 M | 112 M | - | 91.6 M | 100 M | 103 M | - | 113 M | 100 M | 115 M | - | 113 M | 121 M | 99.2 M | - | 85.1 M | 73.3 M | 69.3 M | - | 63.6 M | 63.1 M | 65.4 M | - | 60.7 M | 58.5 M | 59.9 M | - | 13.5 M | 9.22 M | 4.68 M | - | 13.9 M | 9.22 M | 4.61 M | - | 4.48 M | 8.47 M | 4.12 M | - | 9.3 M | 5.75 M | 2.57 M | - | 5.9 M | 1.96 M | 1.85 M | - | 1.8 M | 1.63 M | 1.56 M |
Operating Expenses |
129 M | 132 M | 123 M | 128 M | 120 M | - | 120 M | 116 M | 118 M | - | 105 M | 104 M | 108 M | - | 95.8 M | 97.4 M | 98 M | - | 88.1 M | 89.2 M | 92 M | - | 76.2 M | 80.7 M | 77.9 M | - | 65.6 M | 64.6 M | 61.3 M | - | 55 M | 54.9 M | 54.5 M | - | 48.9 M | 47.3 M | 47.8 M | - | 43.9 M | 46.1 M | 44.2 M | - | 38.8 M | 38.4 M | 38.3 M | - | 36 M | 35.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
5.78 M | 5.74 M | 6.1 M | 5.4 M | 5.72 M | - | 5.84 M | 4.89 M | 4.74 M | - | 5.15 M | 4.78 M | 5.76 M | - | 4.58 M | 4.44 M | 3.46 M | - | 3.38 M | 3.28 M | 3.23 M | - | 3.47 M | 3.25 M | 3.13 M | - | 3.76 M | 3.8 M | 3.12 M | - | 2.74 M | 2.71 M | 2.48 M | - | 2.94 M | 2.59 M | 2.35 M | - | 2.7 M | 2.21 M | 2.12 M | - | 3.54 M | 3.26 M | 2.68 M | - | 2.58 M | 2.34 M | 2.2 M | - | 1.93 M | 1.95 M | 2.5 M | - | 2.01 M | 2.02 M | 2.11 M | - | 1.74 M | 1.81 M | 1 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company MarketAxess Holdings (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.