MarketAxess

Financials Financial Exchanges & Data New York City, New York Last filing Feb 24, 2025 · FY2024

                    Revenue
                    FY2024
                
$817.1M
                    
                    +8.6%
                    
                    Net income
                    FY2024
                
$274.2M
                    
                    +6.2%
                    
                    Total assets
                    FY2024
                
$1.8B
                    
                    -11.2%
                    
                    Operating cash flow
                    FY2024
                
$274.2M
                    
                    +6.2%

Balance Sheet

Assets, liabilities, and equity

33 accounts · 5 years

Total assets $1.8B

Total liabilities $400.6M

Shareholders equity $1.4B

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Assets
Cash and Cash Equivalents	$544.5M	$451.3M	$430.7M	$506.7M	$460.9M
Restricted Cash	$47.1M	$45.1M	$50.9M	$50.2M	$50.1M
Cash and Securities Segregated Under Federal Regulations	$47.1M	$45.1M	$50.9M	$50.2M	$50.1M
Accounts Receivable	$91.8M	$89.8M	$78.5M	$63.9M	$79.6M
Allowance For Doubtful Accounts	$982.0K	$577.0K	$590.0K	$140.0K	$140.0K
Deposits and Other Receivables From Broker Dealers	$357.7M	$687.9M	$476.3M	$408.3M	$279.9M
Trading Securities	$165.3M	$134.9M	$83.8M	$36.1M	$28.1M
Prepaid Expenses	$82.6M	$84.5M	$68.3M	$27.1M	$29.0M
Property and Equipment	$107.3M	$102.7M	$100.3M	$96.1M	$85.2M
Goodwill	$236.7M	$236.7M	$154.8M	$154.8M	$147.4M
Intangible Assets	$98.1M	$119.1M	$98.1M	$116.4M	$95.4M
Operating Lease Right of Use Assets	$58.1M	$63.0M	$66.1M	$71.0M	$75.9M
Deferred Tax Assets	$27.6M	$25.2M	$25.5M	$24.4M	$25.0M
Total Assets	$1.8B	$2.0B	$1.6B	$1.5B	$1.3B
Liabilities
Accounts Payable	$37.3M	$37.0M	$55.3M	$71.2M	$44.4M
Accrued Compensation and Benefits	$68.1M	$60.1M	$56.3M	$59.7M	$62.3M
Payables To Broker Dealers	$8.2M	$7.2M	$7.3M	$3.4M	$1.6M
Income Taxes Payable	$3.7M	$7.9M	$28.4M	$40.5M	$42.8M
Operating Lease Liability,Current	$12.7M	$13.0M	$11.0M	$11.2M	$12.1M
Contract Liabilities	$5.0M	$4.5M	$4.0M	$4.2M	$4.2M
Operating Lease Liability,Non Current	$72.7M	$79.7M	$82.7M	$88.4M	$93.6M
Total Liabilities	$400.6M	$722.1M	$526.7M	$489.1M	$376.4M
Equity
Common Stock	$123.0K	$123.0K	$123.0K	$123.0K	$123.0K
Preferred Stock	$0	$0	$0	$0	—
Additional Paid In Capital	$350.7M	$333.3M	$345.5M	$330.3M	$329.7M
Retained Earnings	$1.4B	$1.2B	$1.1B	$957.0M	$799.4M
Treasury Stock	$333.4M	$260.3M	$328.3M	$232.7M	$169.5M
Accumulated Other Comprehensive Income(loss)	$-34.7M	$-24.4M	$-37.7M	$-13.3M	$-4.7M
Total Stockholders Equity	$1.4B	$1.3B	$1.1B	$1.0B	$955.1M
Total Liabilities and Stockholders Equity	$1.8B	$2.0B	$1.6B	$1.5B	$1.3B
Total Liabilitiesand Equity	$1.8B	$2.0B	$1.6B	$1.5B	$1.3B
Validation
L+E Components Sum Difference	$0	$0	$0	$0	$0

Income Statement

Revenue, expense, and profitability

24 accounts · 5 years

Revenue $817.1M

Operating income $340.9M

Net income $274.2M

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
IncomeStatement
Revenues Total Revenues	$817.1M	$752.5M	$718.3M	$699.0M	$689.1M
Expenses Total Operating Expenses	$476.2M	$437.5M	$391.4M	$361.7M	$314.4M
Expenses Employee Compensation and Benefits	$235.9M	$206.9M	$182.1M	$170.9M	$156.9M
Expenses Information Systems and Technology	$72.2M	$62.8M	$53.0M	$42.5M	$34.1M
Expenses Professional and Consulting Fees	$27.4M	$31.9M	$33.9M	$41.9M	$32.3M
Expenses Occupancy and Equipment Costs	$14.7M	$14.2M	$14.1M	$13.3M	$13.4M
Expenses Depreciation and Amortization	$73.8M	$70.6M	$61.4M	$53.4M	$36.0M
Expenses Marketing and Advertising	$11.7M	$11.0M	$10.0M	$9.1M	$7.9M
Expenses General and Administrative	$22.7M	$23.0M	$19.2M	$14.5M	$12.7M
Operating Income Operating Income	$340.9M	$315.0M	$326.9M	$337.2M	$374.7M
Non Operating Items Non Operating Income(expense)	$19.7M	$17.7M	$11.4M	$-3.3M	$-369.0K
Non Operating Items Foreign Exchange Gain(loss)	$-1.3M	$-4.7M	$8.8M	$0	—
Non Operating Items Gain(loss)On Investments	$19.0K	$1.7M	$-2.6M	$1.1M	—
Non Operating Items Equity In Earnings of Unconsolidated Subsidiaries	$1.4M	$735.0K	$1.1M	$0	$0
Income Before Tax Income Before Income Taxes	$360.5M	$332.7M	$338.3M	$333.9M	$374.4M
Income Tax Income Tax Expense(benefit)	$86.4M	$74.6M	$88.1M	$76.0M	$75.0M
net Income net Income	$274.2M	$258.1M	$250.2M	$257.9M	$299.4M
Earnings Per Share Earnings Per Share,Basic	$7	$7	$7	$7	$8
Earnings Per Share Earnings Per Share,Diluted	$7	$7	$7	$7	$8
Earnings Per Share Weighted Average Shares,Basic	$37.6M	$37.5M	$37.5M	$37.5M	$37.4M
Earnings Per Share Weighted Average Shares,Diluted	$37.7M	$37.7M	$37.6M	$38.1M	$38.1M
Comprehensive Income Other Comprehensive Income(loss)	$-10.1M	$13.3M	$-24.4M	$-8.7M	$6.2M
Comprehensive Income Comprehensive Income	$263.9M	$271.4M	$225.9M	$249.2M	$305.0M

Cash Flow Statement

Operating, investing, and financing flows

29 accounts · 5 years

Operating cash flow $274.2M

Investing cash flow $9.9M

Financing cash flow $344.9M

Account	2024	2023	2022	2021	2020
Period
Period end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
CashFlow
Operating Activities net Income	$274.2M	$258.1M	$250.2M	$257.9M	$299.4M
Operating Activities Depreciation and Amortization	$73.8M	$70.6M	$61.4M	$53.4M	$36.0M
Operating Activities Stock Based Compensation	$29.7M	$29.2M	$29.9M	$27.3M	$25.6M
Operating Activities Deferred Income Taxes	$-3.9M	$-5.8M	$-6.5M	$3.1M	$10.1M
Operating Activities Change In Accounts Receivable	$3.7M	$7.1M	$15.1M	$-15.6M	$18.0M
Operating Activities Change In Accounts Payable and Accrued Liabilities	$3.5M	$-7.2M	$11.4M	$215.0K	$6.0M
Operating Activities Change In Income Tax Payable	$-3.3M	$-14.7M	$-4.8M	$-5.6M	$16.2M
Operating Activities Change In Broker Receivables/payables	$-320.1M	$181.0M	$47.6M	$156.9M	$182.9M
Operating Activities Change In Other Operating Assets and Liabilities	$-1.0M	$11.9M	$4.2M	$-2.2M	$2.0M
Operating Activities net Cash Provided by Operating Activities	$385.2M	$333.8M	$289.2M	$282.1M	$404.5M
Investing Activities Capital Expenditures	$9.9M	$9.3M	$13.1M	$17.5M	$15.0M
Investing Activities Software Development Costs	$46.6M	$43.1M	$38.7M	$33.1M	$30.6M
Investing Activities Purchases of Investments	$93.4M	$78.6M	$50.1M	$25.0M	$32.9M
Investing Activities Proceeds From Sales and Maturities of Investments	$12.4M	$4.5M	$0	$0	$170.7M
Investing Activities Equity Method Investments	$0	$0	$34.4M	$0	$0
Investing Activities net Cash Used In Investing Activities	$-86.9M	$-155.3M	$-86.3M	$-67.7M	$68.9M
Financing Activities Proceeds From Debt	$344.9M	$124.0M	$100.0M	$70.3M	$578.4M
Financing Activities Dividends Paid	$112.7M	$109.7M	$105.9M	$99.8M	$90.6M
Financing Activities Repurchase of Common Stock	$75.5M	$0	$87.5M	$63.2M	$16.1M
Financing Activities Proceeds From Exercise of Stock Options	$3.0M	$940.0K	$672.0K	$7.1M	$4.0M
Financing Activities Payments For Tax Withholding On Share Based Compensation	$16.2M	$25.8M	$23.4M	$33.9M	$42.4M
Financing Activities net Cash Used In Financing Activities	$-201.4M	$-147.1M	$-242.4M	$-189.8M	$-145.1M
Exchange Rate and Cash Reconciliation Effect of Exchange Rate Changes	$-8.1M	$7.6M	$-13.5M	$-7.1M	$5.6M
Exchange Rate and Cash Reconciliation net Increase(decrease)In Cash	$88.8M	$39.0M	$-52.9M	$17.5M	$333.8M
Exchange Rate and Cash Reconciliation Cash and Cash Equivalents At Beginning of Period	$544.5M	$451.3M	$430.7M	$506.7M	$460.9M
Exchange Rate and Cash Reconciliation Cash and Cash Equivalents At End of Period	$544.5M	$451.3M	$430.7M	$506.7M	$460.9M
Supplemental Disclosures Interest Paid	$1.7M	$1.9M	$652.0K	$830.0K	$1.1M
Supplemental Disclosures Income Taxes Paid	$96.9M	$94.8M	$88.7M	$70.0M	$45.0M

Stock Data

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Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

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