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MarketAxess Holdings Inc
MKTX : NASDAQ : Financial
$87.72 | %
Today's Range: 87.34 - 88.51
Avg. Daily Volume: 208,900
05/22/15 - 3:59 PM ET

Financial Analysis


MARKETAXESS HOLDINGS INC's gross profit margin for the first quarter of its fiscal year 2015 has increased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 8.29% from the same quarter last year.

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Income Statement Q1 FY15 Q1 FY14
Net Sales ($mil)76.7762.7
EBITDA ($mil)43.1131.13
EBIT ($mil)38.527.01
Net Income ($mil)24.5917.48


Balance Sheet Q1 FY15 Q1 FY14
Cash & Equiv. ($mil)161.05151.36
Total Assets ($mil)378.69346.37
Total Debt ($mil)0.00.0
Equity ($mil)344.67318.26


Profitability Q1 FY15 Q1 FY14
Gross Profit Margin56.1649.65
EBITDA Margin56.1549.64
Operating Margin50.1543.08
Sales Turnover0.730.72
Return on Assets21.6322.56
Return on Equity23.7622.14
Debt Q1 FY15 Q1 FY14
Current Ratio0.00.0
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY15 Q1 FY14
Shares outstanding (mil)37.3437.77
Div / share0.20.16
EPS0.650.46
Book value / share9.238.43
Institutional Own % n/a n/a
Avg Daily Volume208705.0172646.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 10965.26 for the Diversified Financial Services industry and a significant premium compared to the S&P 500 average of 20.83. To use another comparison, its price-to-book ratio of 9.53 indicates a significant premium versus the S&P 500 average of 2.88 and a significant discount versus the industry average of 913.26. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, MARKETAXESS HOLDINGS INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MKTX 40.74 Peers 10965.26   MKTX 29.87 Peers 6905.09

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

MKTX is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

MKTX is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MKTX 30.56 Peers 12.09   MKTX 1.50 Peers 0.21

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

MKTX is trading at a significant premium to its peers.

 

Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

MKTX trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MKTX 9.53 Peers 913.26   MKTX 15.50 Peers 9.12

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

MKTX is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

MKTX is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MKTX 11.91 Peers 1086.86   MKTX 11.36 Peers 10.86

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

MKTX is trading at a significant discount to its industry on this measurement.

 

Average. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

MKTX is keeping pace with its peers on the basis of sales growth.

 

 

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