MarketAxess Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Revenue	209.41	208.82	219.46	208.58	202.4	206.72	197.66	210.32	197.25	172.28	179.85	203.17	177.9	172.11	182.23	186.06	165.06	162.09	176.33	195.46
Revenue Growth (YoY)	3.46%	1.02%	11.03%	-0.83%	2.61%	19.98%	9.90%	3.52%	10.88%	0.10%	-1.31%	9.20%	7.78%	6.18%	3.34%	-4.81%	-3.67%	-1.17%	-4.58%	15.67%
Cost of Revenue	86.27	83.89	89.11	84.15	82.63	81.37	78.68	83.23	79.19	67.88	67.8	71.86	62.84	63.19	62.19	64.52	56.19	54.81	55.65	62.82
Gross Profit	123.14	124.93	130.36	124.43	119.78	125.34	118.98	127.09	118.05	104.41	112.05	131.31	115.07	108.93	120.04	121.53	108.87	107.28	120.69	132.65
Selling, General & Admin	27.52	19.69	19.3	17.81	21.26	19.56	19.28	16.39	21.5	19.94	19.31	19.49	21.66	17.31	20.01	18.26	21.69	19.31	20.41	17.39
Depreciation & Amortization Expenses	19.61	19.66	19.2	18.24	18.54	18.73	18.36	18.2	19.53	17.56	17.01	16.46	15.73	15.3	15.24	15.17	14.61	13.96	13.1	11.78
Total Operating Expenses	47.13	39.35	38.49	36.05	39.8	38.29	37.64	34.59	41.03	37.5	36.32	35.95	37.39	32.62	35.25	33.43	36.29	33.28	33.51	29.17
Operating Income	76.01	85.58	91.86	88.38	79.98	87.06	81.34	92.5	77.03	66.91	75.73	95.36	77.67	76.31	84.79	88.1	72.58	74	87.18	103.47
Interest Income	5.45	5.85	5.93	7.17	6.72	6.95	6.4	5.97	6.27	6.59	5.31	4.25	3.29	1.43	0.25	0.06	0.08	0.11	0.11	0.11
Interest Expense	-0.96	-0.17	-0.14	-0.21	-0.32	-0.35	-0.62	-0.32	-1.64	-0.16	-0.05	-0.13	-0.05	-0.14	-0.34	-0.17	-0.17	-0.31	-0.17	-0.19
Other Non-Operating Income (Expense)	-0.71	2.38	-0.24	0.82	-1.78	-0.77	-0.78	-1.44	2.15	-1.59	-2.04	-1.28	-1.49	1.26	4.87	2.43	-0.92	0.7	-1.06	-1.59
Total Non-Operating Income (Expense)	3.77	8.06	5.55	7.77	4.62	5.84	5	4.22	6.79	4.83	3.22	2.84	1.76	2.55	4.79	2.32	-1.01	0.49	-1.12	-1.67
Pretax Income	79.79	93.64	97.42	96.15	84.6	92.9	86.34	96.72	83.81	71.74	78.95	98.2	79.43	78.86	89.58	90.42	71.58	74.49	86.05	101.8
Provision for Income Taxes	-12.61	25.37	26.24	81.09	19.46	21.41	21.4	24.1	14.19	16.8	19.09	24.57	20.2	19.56	22.66	25.65	19.39	16.54	18.77	21.34
Net Income	92.24	68.18	71.15	15.07	65.14	71.49	64.94	72.62	69.63	54.94	59.86	73.63	59.23	59.31	66.92	64.77	52.19	57.96	67.29	80.46
Minority Interest in Earnings	0.16	0.1	0.03	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income to Common	92.24	68.18	71.15	15.07	65.14	71.49	64.94	72.62	69.63	54.94	59.86	73.63	59.23	59.31	66.92	64.77	52.19	57.96	67.29	80.46
Net Income Growth	41.60%	-4.63%	9.56%	-79.25%	-6.45%	30.12%	8.48%	-1.38%	17.56%	-7.36%	-10.55%	13.68%	13.49%	2.33%	-0.54%	-19.50%	-28.45%	-14.49%	-19.76%	7.54%
Shares Outstanding (Basic)	37	37	37	37	37	38	38	38	38	37	37	37	37	37	38	37	38	38	38	37
Shares Outstanding (Diluted)	37	37	37	37	38	38	38	38	38	38	38	38	38	38	38	38	38	38	38	38
Shares Change (YoY)	-2.44%	-1.33%	-1.04%	-0.88%	-0.55%	0.09%	0.27%	0.39%	0.63%	0.02%	-0.05%	-0.47%	-1.24%	-1.36%	-1.30%	-0.87%	-0.37%	-0.20%	-0.13%	0.21%
EPS (Basic)	2.52	1.84	1.91	0.40	1.74	1.90	1.72	1.92	1.85	1.47	1.60	1.96	1.58	1.58	1.78	1.73	1.39	1.54	1.79	2.15
EPS (Diluted)	2.51	1.84	1.91	0.40	1.73	1.90	1.72	1.92	1.84	1.46	1.59	1.96	1.58	1.58	1.78	1.71	1.37	1.52	1.77	2.11
EPS Growth	45.09%	-3.16%	11.05%	-79.17%	-5.98%	30.14%	8.18%	-2.04%	16.46%	-7.60%	-10.67%	14.62%	15.33%	3.95%	0.56%	-18.96%	-28.27%	-14.61%	-19.55%	7.65%
Free Cash Flow	155.06	88.67	102.51	27.7	176.03	94.25	111.15	-6.15	139.61	73.18	104.34	7.31	127.73	81.14	92.35	-25.13	142.79	58.06	91.17	-27.42
Free Cash Flow Growth	-11.91%	-5.93%	-7.78%	-	26.09%	28.80%	6.53%	-	9.31%	-9.81%	12.98%	-	-10.55%	39.76%	1.29%	-	-36.72%	-	-8.72%	-
Free Cash Flow Per Share	4.23	2.39	2.75	0.74	4.68	2.51	2.95	-0.16	3.69	1.95	2.78	0.19	3.40	2.16	2.46	-0.66	3.75	1.52	2.39	-0.72
Dividends Per Share	0.760	0.760	0.760	0.760	0.740	0.740	0.740	0.740	0.720	0.720	0.720	0.720	0.700	0.700	0.700	0.700	0.660	0.660	0.660	0.660
Dividend Growth	2.70%	2.70%	2.70%	2.70%	2.78%	2.78%	2.78%	2.78%	2.86%	2.86%	2.86%	2.86%	6.06%	6.06%	6.06%	6.06%	10.00%	10.00%	10.00%	10.00%
Gross Margin	58.80%	59.83%	59.40%	59.66%	59.18%	60.64%	60.19%	60.43%	59.85%	60.60%	62.30%	64.63%	64.68%	63.29%	65.87%	65.32%	65.96%	66.18%	68.44%	67.86%
Operating Margin	36.30%	40.98%	41.86%	42.37%	39.51%	42.11%	41.15%	43.98%	39.05%	38.84%	42.11%	46.93%	43.66%	44.34%	46.53%	47.35%	43.97%	45.65%	49.44%	52.94%
Profit Margin	44.12%	32.69%	32.43%	7.22%	32.18%	34.58%	32.85%	34.53%	35.30%	31.89%	33.28%	36.24%	33.29%	34.46%	36.72%	34.81%	31.62%	35.76%	38.16%	41.16%
FCF Margin	74.05%	42.46%	46.71%	13.28%	86.97%	45.60%	56.23%	-2.92%	70.78%	42.48%	58.02%	3.60%	71.80%	47.14%	50.68%	-13.50%	86.50%	35.82%	51.71%	-14.03%
EBITDA	97.6	107.16	112.92	108.38	100.13	107.57	101.33	112.3	98.2	85.96	94.08	113.19	94.88	92.85	101.43	104.87	88.93	89.65	101.98	116.92
EBITDA Margin	46.61%	51.32%	51.45%	51.96%	49.47%	52.04%	51.27%	53.39%	49.79%	49.89%	52.31%	55.71%	53.33%	53.95%	55.66%	56.37%	53.88%	55.31%	57.83%	59.82%
EBIT	76.01	85.58	91.86	88.38	79.98	87.06	81.34	92.5	77.03	66.91	75.73	95.36	77.67	76.31	84.79	88.1	72.58	74	87.18	103.47
EBIT Margin	36.30%	40.98%	41.86%	42.37%	39.51%	42.11%	41.15%	43.98%	39.05%	38.84%	42.11%	46.93%	43.66%	44.34%	46.53%	47.35%	43.97%	45.65%	49.44%	52.94%
Effective Tax Rate	-15.80%	27.09%	26.93%	84.33%	23.00%	23.04%	24.79%	24.92%	16.92%	23.42%	24.18%	25.02%	25.43%	24.80%	25.29%	28.37%	27.09%	22.20%	21.81%	20.97%

Updated Feb 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q