Mar 2026 (Q1 FY26) — May 7, 2026
MarketAxess Q1 FY26 — Record Revenue and Strong International Growth
Read the full callMarketAxess (MKTX) earnings
- Jun 2026
- Mar 2026 (Q1 FY26)
- Dec 2025
MarketAxess earnings: last reported Thu, 7 May 2026, for the quarter ended Mar 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 218 | −0.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 41.1 | −0.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 68.1 | −4.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$164.53 −0.07% · −$0.11
Performance −3.9% 1Y
1Y: $171.26 on 17 Oct 2025 → $164.53. High $193.61 (3 Mar 2026), low $109.09 (25 Jun 2026).
- Previous close
- $164.64
- 52-week range
- $109.09 – $193.61
- One year
- −3.75%
Overview
- Symbol
- MKTX
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Call summaries
Every analysed call
MarketAxess earnings calls (MKTX)
Financials
What the filings say
Net profit, year on year: −4% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 207 | 202 | 209 | 219 | 209 | 209 | 233 | 218 |
| Operating profit | 87 | 80 | 88 | 92 | 86 | 76 | 101 | 90 |
| Operating margin | 42.1% | 39.5% | 42.4% | 41.9% | 41.0% | 36.3% | 43.2% | 41.1% |
| Other income | 6 | 5 | 8 | 6 | 8 | 4 | 3 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 2 |
| Profit before tax | 93 | 85 | 96 | 97 | 94 | 80 | 104 | 90 |
| Tax rate | 23.0% | 23.0% | 84.3% | 26.9% | 27.1% | −15.8% | 24.8% | 23.9% |
| Net profit | 71 | 65 | 15 | 71 | 68 | 92 | 78 | 68 |
| EPS ($ per share) | 1.90 | — | 0.40 | 1.91 | 1.84 | — | 2.21 | 1.93 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 463 | 591 | 799 | 957 | 1,102 | 1,244 | 1,406 | 1,539 |
| Total liabilities | 88 | 185 | 376 | 489 | 527 | 722 | 401 | 777 |
| Fixed assets | 63 | 72 | 85 | 96 | 100 | 103 | 107 | 112 |
| Total assets | 696 | 955 | 1,331 | 1,530 | 1,608 | 2,015 | 1,789 | 1,935 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 224 | 266 | 404 | 282 | 289 | 334 | 385 | 382 |
| Cash from investing | -50 | -122 | 69 | -68 | -86 | -155 | -87 | -97 |
| Cash from financing | -93 | -118 | -145 | -190 | -242 | -147 | -201 | -332 |
| Net cash flow | 79 | 27 | 334 | 18 | -53 | 39 | 89 | -25 |
| Capital expenditure | -36 | -12 | -15 | -17 | -13 | -9 | -10 | -8 |
| Free cash flow | 188 | 254 | 389 | 265 | 276 | 324 | 375 | 374 |
MKTX revenue by segment
Commission Revenue shrank from 87% to 86% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Commission Revenue | 87% | 86% | 87% | 87% | 86% | 87% | 87% | 86% | -2.5% |
| Information Services | 6% | 7% | 6% | 6% | 7% | 6% | 6% | 7% | +23.0% |
| Post Trade Services | 5% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | +4.7% |
| Technology Services | 1% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | +8.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 65%
- GB 22%
- Other 13%
As MKTX cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
55 filings between Nov 25, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.18M
12 sales by 2 insiders
92% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 24
- Award — granted as compensation
- 12
- Tax withheld — shares kept back by the company to cover tax
Also filed: 7 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Cruger William Frank Jr. | — | $1.01M | Sep 10, 2026 |
| Pintoff Scott | — | $174.4K | Oct 12, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $16.5K |
| Sep 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $16.3K |
| Sep 10, 2026 | Cruger William Frank Jr. Director | Sale | 6,164 | $1.01M |
| Aug 12, 2026 | Portney Emily Hope Director | Gift | 2,085 | $0 |
| Aug 12, 2026 | Portney Emily Hope Director | Gift | 2,085 | $0 |
| Aug 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $16.3K |
| Aug 7, 2026 | Chwick Jane Director | Gift | 606 | $0 |
| Jul 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $11.5K |
| Jun 18, 2026 | HERNANDEZ CARLOS MAURICIO Director | Gift | 10,708 | $0 |
| Jun 18, 2026 | HERNANDEZ CARLOS MAURICIO Director | Gift | 10,708 | $0 |
| Jun 10, 2026 | KETCHUM RICHARD G Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Chwick Jane Director | Award | 1,390 | $0 |
| Jun 10, 2026 | HERNANDEZ CARLOS MAURICIO Director | Award | 2,616 | $0 |
| Jun 10, 2026 | Hoornweg Roberto Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Cruger William Frank Jr. Director | Award | 1,390 | $0 |
| Jun 10, 2026 | SCHICIANO KENNETH T Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Portney Emily Hope Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $11.6K |
| Jun 10, 2026 | Gibson Kourtney Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Altobello Nancy A. Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Begleiter Steven L Director | Award | 1,390 | $0 |
| Jun 10, 2026 | Cifu Douglas A Director | Award | 1,390 | $0 |
| Jun 3, 2026 | Fiszel Bieler Ilene Chief Financial Officer | Tax withheld | 332 | $40.9K |
| May 11, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $14.7K |
| May 1, 2026 | Quan William Chief Technology Officer | Award | 218 | $0 |
| Apr 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $17.2K |
| Apr 3, 2026 | CONCANNON CHRISTOPHER R Chief Executive Officer | Tax withheld | 349 | $59.8K |
| Mar 10, 2026 | Pintoff Scott General Counsel and Secretary | Sale 10b5-1 plan | 100 | $18.5K |
| Mar 1, 2026 | Cifu Douglas A Director | Award | 259 | $0 |
| Mar 1, 2026 | SCHICIANO KENNETH T Director | Award | 259 | $0 |
| Mar 1, 2026 | Panchal Naineshkumar Shantilal Chief Information Officer | Tax withheld | 1,470 | $282.2K |
| Feb 15, 2026 | CONCANNON CHRISTOPHER R Chief Executive Officer | Tax withheld | 1,750 | $313.9K |
| Feb 15, 2026 | CONCANNON CHRISTOPHER R Chief Executive Officer | Award | 6,588 | $0 |
| Feb 15, 2026 | Fiszel Bieler Ilene Chief Financial Officer | Award | 5,005 | $0 |
| Feb 15, 2026 | Fiszel Bieler Ilene Chief Financial Officer | Tax withheld | 439 | $78.7K |
| Feb 15, 2026 | Pintoff Scott General Counsel and Secretary | Tax withheld | 824 | $147.8K |
| Feb 15, 2026 | Pintoff Scott General Counsel and Secretary | Award | 3,165 | $0 |
| Feb 15, 2026 | Pintoff Scott General Counsel and Secretary | Tax withheld | 208 | $37.3K |
| Feb 15, 2026 | Panchal Naineshkumar Shantilal Chief Information Officer | Tax withheld | 1,016 | $182.2K |
| Feb 15, 2026 | Panchal Naineshkumar Shantilal Chief Information Officer | Award | 3,239 | $0 |
| Feb 15, 2026 | Panchal Naineshkumar Shantilal Chief Information Officer | Tax withheld | 159 | $28.5K |
| Feb 15, 2026 | McPherson Kevin M Chief Revenue Officer | Tax withheld | 462 | $82.9K |
| Feb 15, 2026 | McPherson Kevin M Chief Revenue Officer | Tax withheld | 1,525 | $273.5K |
| Feb 15, 2026 | McPherson Kevin M Chief Revenue Officer | Award | 4,416 | $0 |
| Feb 15, 2026 | Mirwani Nitin A Chief Accounting Officer | Award | 1,766 | $0 |
| Feb 15, 2026 | CONCANNON CHRISTOPHER R Chief Executive Officer | Tax withheld | 866 | $155.3K |
| Feb 13, 2026 | McPherson Kevin M Chief Revenue Officer | Award | 939 | $0 |
| Feb 13, 2026 | CONCANNON CHRISTOPHER R Chief Executive Officer | Award | 1,696 | $0 |
| Feb 13, 2026 | Pintoff Scott General Counsel and Secretary | Award | 515 | $0 |
| Feb 13, 2026 | Panchal Naineshkumar Shantilal Chief Information Officer | Award | 394 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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