MarketAxess Holdings Inc. (MKTX) earns a Roarable Rating of A- (Buy) with 83/100 RQD Confidence. High-quality cash engine (steady margins, 28% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.
As of 2026-11-03, MarketAxess Holdings Inc. (NASDAQ: MKTX) is rated A- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 83/100 at a spot price of $165.30 (+0.23% 1D, market cap $5.82B). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 15/20, Executive Insider Alignment 15/20, FRED Macro Regime Fit 18/20, and SEC Balance-Sheet Forensics 17/20. Across 1096 tracked Financials issuers, MKTX ranks #3 in composite RQD confidence.
Within the Financials sector (Investment Bankers/Brokers/Service), MKTX carries a Roarable A- (83/100 RQD), trailing P/E of 23.5x, gross margin of —, and ROIC of 28.4%. By comparison, GLXY (Galaxy Digital Inc.) holds a E grade (25/100 RQD, P/E N/A, ROIC -5.5%, cap $6.25B) and SNEX (StoneX Group Inc.) posts a D+ grade (53/100 RQD, P/E 21.7x, ROIC 1.5%, cap $6.37B). Among the 5-stock peer group, SNEX leads on earnings multiple (21.7x) while MKTX leads on capital efficiency (28.4% ROIC).
Per MKTX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001278021), MarketAxess Holdings Inc. generated $846.3M in revenue (+3.6% YoY), $246.9M in net income, and $373.9M in free cash flow against $1.93B in total assets and $349.5M in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run.. Institutional options positioning shows a 50% call / 50% put premium split.
Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer
SEC XBRL FY 2025 (10-K): 44.2% FCF Margin ($373.9M FCF) & 52% Gross Margin
FRED Regime × Technicals: 65% of 52W Range • RSI-14 at 68.5 (BULLISH MOMENTUM)
Balance-sheet & 10-K footnote risk deducts 5 pts from forensic ceiling
Even with a 83/100 (A-) score, MKTX faces multiple-compression risk if 23.5x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.
Broader market pullbacks can still drag down strong stocks in the short run.
Dilution & Margin Drag: Cannibal Buyback (-2.64% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.
Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($163.94) or 200D SMA ($155.18) invalidates the momentum regime and cuts Target Base ($183.90) toward Bear Floor ($135.55).
MarketAxess Holdings Inc. (MKTX) advanced +0.23% to $165.30, trading at 65% of its 52-week range ($108.75 – $195.97). High-quality cash engine (steady margins, 28% return on capital) with steady institutional support.
Yahoo! Finance Canada report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Yahoo Finance report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
The Globe and Mail report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
TradingView report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Simply Wall St report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
MarketBeat report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Yahoo Finance report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
The Globe and Mail report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
The U.S. Treasury Department is scheduled to publish updated borrowing estimates today and its quarterly refunding statement on Wednesday, November 4, and this time the agenda reaches beyond the usual auction calendar. I
Intercontinental Exchange (NYSE:ICE) reported third-quarter 2026 adjusted earnings per share of $2.02, up 18% from a year earlier, as revenue growth across its exchanges, fixed-income data businesses and mortgage technol
Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).
vs. +3.6% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on MKTX today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for MKTX. Explore sector supply chains on /butterfly.
Across 1096 tracked Financials securities in the Roarable RQD universe, MarketAxess Holdings Inc. (MKTX) ranks #3 by composite RQD confidence (83/100, grade A-) and #249 by equity capitalization ($5.82B). Within this direct 5-issuer industry benchmark cohort, SNEX leads on earnings valuation at 21.7x trailing P/E, while MKTX leads on capital efficiency and profitability with 28.4% ROIC and — gross margin. MKTX currently leads its immediate peer cohort in composite quantitative strength at 83/100 (A-).
| Ticker / Company | Roarable Grade | RQD Score | Trailing P/E | Gross Margin | ROIC | 1D Change | Market Cap | Head-to-Head |
|---|---|---|---|---|---|---|---|---|
| MKTX
ACTIVE
MarketAxess Holdings Inc. | A- | 83/100 | 23.5x | — | 28.4% | +0.23% | $5.82B | Benchmark Subject |
| GLXY Galaxy Digital Inc. | E | 25/100 | — | — | -5.5% | -11.75% | $6.25B | /glxy-vs-mktx → |
| SNEX StoneX Group Inc. | D+ | 53/100 | 21.7x | — | 1.5% | -3.81% | $6.37B | /snex-vs-mktx → |
| BGC BGC Group Inc. (Class A) | C | 65/100 | 36.3x | — | 15.1% | -1.66% | $5.24B | /bgc-vs-mktx → |
| MRX Marex Group Limited | C- | 59/100 | 32.8x | — | 9.9% | -0.98% | $4.77B | /mrx-vs-mktx → |
In its most recent audited fiscal period (FY2025, filed 2025-12-31), MarketAxess Holdings Inc. (MKTX) reported GAAP revenue of $846.3M (+3.6% vs. FY2024 revenue of $817.1M , and +12.5% cumulative change since FY2023) , GAAP net income of $246.9M, operating cash flow of $382.1M, and free cash flow of $373.9M (-0.4% YoY). On the balance sheet, MKTX closed FY2025 with $1.93B in total assets against $349.5M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 7/9).
| Fiscal Period | Filing Date | Revenue | Net Income | Operating Cash Flow | Free Cash Flow | Total Assets | Total Debt |
|---|---|---|---|---|---|---|---|
| FY2025 (FY) | 2025-12-31 | $846.3M | $246.9M | $382.1M | $373.9M | $1.93B | $349.5M |
| FY2024 (FY) | 2024-12-31 | $817.1M | $274.2M | $385.2M | $375.3M | $1.79B | $180.3M |
| FY2023 (FY) | 2023-12-31 | $752.5M | $258.1M | $333.8M | $299.9M | $3.19B | $747.0M |
As of 2026-11-03, MarketAxess Holdings Inc. (NASDAQ: MKTX) is rated A- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 83/100 at a spot price of $165.30 (+0.23% 1D, market cap $5.82B). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 15/20, Executive Insider Alignment 15/20, FRED Macro Regime Fit 18/20, and SEC Balance-Sheet Forensics 17/20. Across 1096 tracked Financials issuers, MKTX ranks #3 in composite RQD confidence.
Within the Financials sector (Investment Bankers/Brokers/Service), MKTX carries a Roarable A- (83/100 RQD), trailing P/E of 23.5x, gross margin of —, and ROIC of 28.4%. By comparison, GLXY (Galaxy Digital Inc.) holds a E grade (25/100 RQD, P/E N/A, ROIC -5.5%, cap $6.25B) and SNEX (StoneX Group Inc.) posts a D+ grade (53/100 RQD, P/E 21.7x, ROIC 1.5%, cap $6.37B). Among the 5-stock peer group, SNEX leads on earnings multiple (21.7x) while MKTX leads on capital efficiency (28.4% ROIC).
Per MKTX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001278021), MarketAxess Holdings Inc. generated $846.3M in revenue (+3.6% YoY), $246.9M in net income, and $373.9M in free cash flow against $1.93B in total assets and $349.5M in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run.. Institutional options positioning shows a 50% call / 50% put premium split.
MKTX last traded at $165.30 (+0.23% on volume of 931,120 shares), positioning the stock +0.83% above its 50-day simple moving average ($163.94) and +6.52% above its 200-day simple moving average ($155.18). Across its 52-week range of $108.75 to $195.97, MKTX sits at the 64.8% percentile with a 14-day RSI of 68.5 (BULLISH MOMENTUM) and an implied next-earnings move of ±1.8% ($162.32 to $168.28).
Per the Roarable RQD rating, MKTX carries an RQD score of 82 and a letter grade of A-, labeled "Roarable Buy — Superior Risk/Reward." The score is built from five pillars:
Valuation tradeoff: per the market data, the stock trades at a P/E (TTM) of 23.5 and an EV/EBITDA of 16.1, so the high ROIC is being priced into the multiple. A prospective investor should weigh whether the 6.44% FCF yield and cash-generation strength justify that valuation, particularly given the 52-week range of $108.75 to $195.97 and the recent margin pressure noted in the news wire. This is an analytical framing, not personalized advice.
MarketAxess Holdings Inc. is a NASDAQ-listed issuer in the Financials sector, operating in the Investment Bankers/Brokers/Service industry.
Per the recent news wire, several headlines cover MKTX, with mixed signals:
Risk watch items: the Q3 sales miss and margin pressure are the most direct fundamental risks in the wire. The buyout headline is unverified in the source data beyond its title. Per the Butterfly Supply-Chain Graph, the supply chain is classified as NONE, and there are no butterfly links or proprietary signals in the source data.
Per the Butterfly Supply-Chain Graph, there are no upstream or downstream links, no proprietary signals, and the supply chain is classified as NONE.
Real-time company headlines, analyst actions, and sector developments for MarketAxess Holdings Inc. (MKTX) • Click "Debate This Headline" to argue it in the Roar Pit below
Yahoo! Finance Canada report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Yahoo Finance report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
The Globe and Mail report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
TradingView report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Simply Wall St report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
MarketBeat report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Yahoo Finance report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
The Globe and Mail report covering MarketAxess Holdings Inc. (MKTX) market action, institutional positioning, and fundamental catalysts.
Welcome to the MKTX (MarketAxess Holdings Inc.) Roar Pit. Current RQD Composite is 82/100 (Roarable Buy — Superior Risk/Reward) in Investment Bankers/Brokers/Service. Bulls point to capital efficiency (28.4% ROIC), while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.
Everyone in here is repeating the bull case on MKTX, but look at what you are paying: 23.5x trailing P/E with tightening sector spreads. Unless MarketAxess Holdings Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.
Looking at the 5-pillar RQD breakdown on MKTX, the market is fixating on short-term headline noise in Investment Bankers/Brokers/Service and ignoring the balance sheet and cash flow trajectory. At $164.92 (52-wk range $108.75 - $195.97), any beat on forward guidance forces shorts and underweight funds to chase.
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