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MKTX$129.29-0.58%
Fair $129.29+0.0%

MKTX

MarketAxess Holdings Inc.

Financial Services / Capital MarketsNasdaqGS

$129.29

-0.75 (-0.58%)

Fairly Valued+0.0%Fair Value $129.29Fund rank 51/100 · PassSEC 17/17 yrs|
SA 43/C
F-Score: 3/9
Margin Compression

Book/ROE base 3Y

$86.62

-12.5% CAGR · P/B 2.4x

Book/ROE base 5Y

$97.01

-5.6% base · -4.6% expected

Precio de entrada

$45.89

MOS 17% · confianza 92%

Book/ROE escenarios

audited · book/share $30.85 · quality 86.0/100

Pass 51/100
Bear 5Y$52.25-16.6%
Base 5Y$97.01-5.6%
Bull 5Y$162.85+4.7%
Return 16/100Downside 28/100Model quality 95/100Data QA 100/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

43/100

C

Piotroski

3/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

-4.6%

32/100

Data QA

90/100

SEC 100%

Latest source: sec-companyfactsPeriods: 17Warnings: 1sec-companyfacts: 17
Sector-specific holding-company NAV/SOTP model required: targets are disabled until look-through holdings, debt and discount data exists. Operating margin has declined for 5 consecutive years
Thesis & Journal · MKTXLocal privado en este navegador · MarketAxess Holdings Inc.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$4.6B

P/E

20.7x

↑

EV/EBITDA

10.1x

↓

ROE

21.5%

↑

Gross Margin

59.4%

↑

Debt/Equity

0.25

↓
52-Week Range$129
$129$228

TradingView lightweight chart

MKTX price, volumen y niveles de valoración

Último $129.29Periodo +639.2%
Buy zone: $45.89Bear 5Y: $52.25Fair value: $129.29Base 5Y: $97.01Bull 5Y: $162.85

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2009–2025 · 16 años de histórico normalizado

Revenue CAGR

+13.3%

FCF CAGR

+15.3%

FCF margin

44.2%

FCF / Net income

1.52x

Latest source

SEC-backed

Margin decomposition

Último año: revenue $846.3M · net income $246.6M · FCF $373.9M

2009-FY → 2025-FY

Gross margin

59.4%— pts

Operating margin

40.4%— pts

Net margin

29.1%+15.1% pts

FCF margin

44.2%+10.6% pts
SEC-backed annual metrics active for 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009. Local SEC Companyfacts override Yahoo/FMP for audited annual line items; provider-only fields remain as fallback.
MetricTTM
2025SEC
2024SEC
2023SEC
2022SEC
2021SEC
2020SEC
2019SEC
2018SEC
2017SEC
2016SEC
2015SEC
2014SEC
2013SEC
2012SEC
2011SEC
2010SEC
2009SEC
Income Statement
Revenue$846.3M$846.3M$817.1M$752.5M$718.3M$699.0M$689.1M$511.4M$435.6M$393.4M$367.7M$303.1M$262.8M$238.7M$190.8M$171.9M$146.2M$114.4M
Net Income$246.6M$246.6M$274.2M$258.1M$250.2M$257.9M$299.4M$204.9M$172.9M$148.1M$126.2M$96.0M$74.8M$76.0M$60.1M$47.7M$31.4M$16.1M
EBITDA$452.7M$452.7M$442.6M$411.1M$406.1M$390.7M$410.7M$277.7M$235.7M$218.9M$207.8M———————
EPS6.646.647.286.856.656.777.855.404.573.893.342.551.972.011.591.200.800.42
Gross Margin59.4%59.4%60.1%61.9%64.8%—————————————
Operating Margin40.4%40.4%41.7%41.9%45.5%48.2%54.4%49.1%48.8%50.7%51.7%———————
Net Margin29.1%29.1%33.6%34.3%34.8%36.9%43.4%40.1%39.7%37.6%34.3%31.7%28.5%31.8%31.5%27.8%21.5%14.1%
Balance Sheet
Debt/Equity0.250.250.050.060.08—————————————
Current Ratio4.944.94————————————————
Cash Flow
Free Cash Flow$373.9M$373.9M$375.3M$324.4M$276.1M$264.6M$389.5M$253.6M$188.0M$155.9M$83.4M$115.4M$105.3M$75.5M$76.4M$62.3M$58.9M$38.4M
Returns
ROE21.5%21.5%19.7%20.0%23.1%24.8%31.3%26.6%28.4%28.8%27.0%24.6%22.4%24.5%24.7%15.3%13.4%7.4%
Valuation
P/E20.6520.6518.8420.0220.6220.2617.4725.3930.0135.2541.0653.7869.6168.2286.25114.28171.41326.50
EV/EBITDA10.0910.0918.2124.3928.25—————————————
P/B4.454.453.723.994.775.025.486.768.5410.1311.0613.2115.5516.7421.3717.3822.8424.12
Growth & Yield
Revenue Growth3.6%3.6%8.6%4.8%2.8%1.4%34.8%17.4%10.7%7.0%21.3%15.3%10.1%25.1%11.0%17.5%27.8%—
EPS Growth-8.8%-8.8%6.3%3.0%-1.8%-13.8%45.4%18.2%17.5%16.5%31.0%29.4%-2.0%26.4%32.5%50.0%90.5%—
Dividend Yield2.4%2.4%————————————————

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

20.0%

exigente

EPS terminal req.

$11.47

Spread vs growth

-28.8%

5Y implied EPS CAGR

15.9%

exigente

EPS terminal req.

$13.88

Spread vs growth

-24.7%

10Y implied EPS CAGR

12.9%

razonable

EPS terminal req.

$22.36

Spread vs growth

-21.7%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -37.8%

Total return

-37.8%

Start / end P/E

29.7x → 19.5x

EPS bridge

7.28 → 6.64

Residual

+3.0%

EPS growth-8.8%
Multiple rerating-34.5%
Dividend+2.4%
Residual / FX / buybacks / cross-term+3.0%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.