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Founded in 2000, MarketAxess is a leading electronic fixed-income trading platform that connects broker/dealers and institutional investors. The company is primarily focused on credit based fixed income securities with its main trading products being US investment-grade and high-yield bonds, Eurobonds, and Emerging Market corporate debt. Recently the company has expanded more aggressively into Treasuries and municipal bonds with the acquisitions of LiquidityEdge and MuniBrokers in 2019 and 2021, respectively. The company also provides pre- and post-trade services with its acquisition of Regulatory Reporting Hub from Deutsche Börse Group in 2020 adding to its product offerings.
2000
891
LTM Revenue $838M
LTM EBITDA $423M
$7.6B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
MarketAxess has a last 12-month revenue (LTM) of $838M and a last 12-month EBITDA of $423M.
In the most recent fiscal year, MarketAxess achieved revenue of $817M and an EBITDA of $443M.
MarketAxess expects next 12-month revenue of XXX and NTM EBITDA of XXX
See MarketAxess valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $838M | XXX | $817M | XXX | XXX | XXX |
| Gross Profit | $838M | XXX | $563M | XXX | XXX | XXX |
| Gross Margin | 100% | XXX | 69% | XXX | XXX | XXX |
| EBITDA | $423M | XXX | $443M | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 54% | XXX | XXX | XXX |
| EBIT | $352M | XXX | $341M | XXX | XXX | XXX |
| EBIT Margin | 42% | XXX | 42% | XXX | XXX | XXX |
| Net Profit | $275M | XXX | $274M | XXX | XXX | XXX |
| Net Margin | 33% | XXX | 34% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, MarketAxess's stock price is $216.
MarketAxess has current market cap of $8.1B, and EV of $7.6B.
See MarketAxess trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7.6B | $8.1B | XXX | XXX | XXX | XXX | $7.40 |
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Start Free TrialAs of May 30, 2025, MarketAxess has market cap of $8.1B and EV of $7.6B.
MarketAxess's trades at 9.3x EV/Revenue multiple, and 17.2x EV/EBITDA.
Equity research analysts estimate MarketAxess's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
MarketAxess has a P/E ratio of 29.6x.
See valuation multiples for MarketAxess and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $8.1B | XXX | $8.1B | XXX | XXX | XXX |
| EV (current) | $7.6B | XXX | $7.6B | XXX | XXX | XXX |
| EV/Revenue | 9.1x | XXX | 9.3x | XXX | XXX | XXX |
| EV/EBITDA | 18.1x | XXX | 17.2x | XXX | XXX | XXX |
| EV/EBIT | 21.7x | XXX | 22.4x | XXX | XXX | XXX |
| EV/Gross Profit | 9.1x | XXX | n/a | XXX | XXX | XXX |
| P/E | 29.6x | XXX | 29.6x | XXX | XXX | XXX |
| EV/FCF | 25.5x | XXX | 23.2x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialMarketAxess's last 12 month revenue growth is 8%
MarketAxess's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.2M for the same period.
MarketAxess's rule of 40 is 62% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
MarketAxess's rule of X is 70% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for MarketAxess and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 54% | XXX | XXX | XXX |
| EBITDA Growth | 8% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | 62% | XXX | 62% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 70% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 27% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Allfunds Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Flow Traders | XXX | XXX | XXX | XXX | XXX | XXX |
| SelfWealth | XXX | XXX | XXX | XXX | XXX | XXX |
| Stock3 | XXX | XXX | XXX | XXX | XXX | XXX |
| NanoFocus | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
MarketAxess acquired XXX companies to date.
Last acquisition by MarketAxess was XXXXXXXX, XXXXX XXXXX XXXXXX . MarketAxess acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was MarketAxess founded? | MarketAxess was founded in 2000. |
| Where is MarketAxess headquartered? | MarketAxess is headquartered in United States of America. |
| How many employees does MarketAxess have? | As of today, MarketAxess has 891 employees. |
| Who is the CEO of MarketAxess? | MarketAxess's CEO is Mr. Dean Berry. |
| Is MarketAxess publicy listed? | Yes, MarketAxess is a public company listed on NAS. |
| What is the stock symbol of MarketAxess? | MarketAxess trades under MKTX ticker. |
| When did MarketAxess go public? | MarketAxess went public in 2004. |
| Who are competitors of MarketAxess? | Similar companies to MarketAxess include e.g. Allfunds Group, Flow Traders, SelfWealth, Stock3. |
| What is the current market cap of MarketAxess? | MarketAxess's current market cap is $8.1B |
| What is the current revenue of MarketAxess? | MarketAxess's last 12 months revenue is $838M. |
| What is the current revenue growth of MarketAxess? | MarketAxess revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of MarketAxess? | Current revenue multiple of MarketAxess is 9.1x. |
| Is MarketAxess profitable? | Yes, MarketAxess is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of MarketAxess? | MarketAxess's last 12 months EBITDA is $423M. |
| What is MarketAxess's EBITDA margin? | MarketAxess's last 12 months EBITDA margin is 50%. |
| What is the current EV/EBITDA multiple of MarketAxess? | Current EBITDA multiple of MarketAxess is 18.1x. |
| What is the current FCF of MarketAxess? | MarketAxess's last 12 months FCF is $299M. |
| What is MarketAxess's FCF margin? | MarketAxess's last 12 months FCF margin is 36%. |
| What is the current EV/FCF multiple of MarketAxess? | Current FCF multiple of MarketAxess is 25.5x. |
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