COMP <GO>
MKTX vs PIPR // OPTIONS IMPLIED MOVE & PUT/CALL SKEW
MarketAxess Holdings Inc. (NASDAQ) VS. Piper Sandler Companies (NYSE) • 15-METRIC TALLY: MKTX 6
— PIPR 6
■ METRIC PARITY
LAST: $165.30 (+0.23%) • MKT CAP: $5.82B
options-implied-move
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LAST: $63.81 (-7.14%) • MKT CAP: $4.51B
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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (MKTX VS. PIPR)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | MKTX | PIPR | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 28.40% | 18.30% | +10.10 | MKTX | /roic <GO> |
| EV/EBITDA & P/E Valuation | 16.1x | 12.0x | +4.10 | PIPR | /valuation <GO> |
| Free Cash Flow Yield | 6.44% | 10.38% | -3.94 | PIPR | /fcf-yield <GO> |
| Operating Margin | 40.40% | 18.70% | +21.70 | MKTX | /operating-margins <GO> |
| Net Profit Margin | 29.20% | 15.30% | +13.90 | MKTX | /net-margins <GO> |
| Revenue Growth (YoY) | 3.60% | 21.70% | -18.10 | PIPR | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 2.35% | -2.35 | PIPR | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 9/9 | -2.00 | PIPR | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew ACTIVE | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 68.5 | 43.1 | +25.40 | MKTX | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 1.02 | 0.99 | +0.03 | MKTX | /macro-sensitivity <GO> |
| Forward P/E Multiple | 21.9x | 14.5x | +7.40 | PIPR | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $5.82B | $4.51B | $1.31B | MKTX | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | MKTX REV | PIPR REV | MKTX GROSS % | PIPR GROSS % | MKTX FCF | PIPR FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $846.3M | $1.83B | — | — | $373.9M | $504.1M |
| FY 2024 | $817.1M | $1.51B | — | — | $375.3M | $245.5M |
| FY 2023 | $752.5M | $1.30B | — | — | $299.9M | $217.1M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
MKTX // BETA 1.02
PIPR // BETA 0.99