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MarketAxess Holdings Inc
MKTX : NASDAQ : Financial
$121.09 -2.20 | -1.80%
Today's Range: 119.65 - 124.25
Avg. Daily Volume: 244,300
05/03/16 - 3:13 PM ET

Financial Analysis


MARKETAXESS HOLDINGS INC's gross profit margin for the first quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not.

During the same period, stockholders' equity ("net worth") has increased by 19.07% from the same quarter last year.

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Income Statement Q1 FY16 Q1 FY15
Net Sales ($mil)88.5776.77
EBITDA ($mil)49.0543.11
EBIT ($mil)44.3738.5
Net Income ($mil)28.9624.59


Balance Sheet Q1 FY16 Q1 FY15
Cash & Equiv. ($mil)0.0161.05
Total Assets ($mil)451.84378.69
Total Debt ($mil)0.00.0
Equity ($mil)410.42344.67


Profitability Q1 FY16 Q1 FY15
Gross Profit Margin55.3856.16
EBITDA Margin55.3756.15
Operating Margin50.0950.15
Sales Turnover0.70.73
Return on Assets22.2221.63
Return on Equity24.4623.76
Debt Q1 FY16 Q1 FY15
Current Ratio0.00.0
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY16 Q1 FY15
Shares outstanding (mil)37.4137.34
Div / share0.260.2
EPS0.770.65
Book value / share10.979.23
Institutional Own % n/a n/a
Avg Daily Volume246924.0265510.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 8915.73 for the Diversified Financial Services industry and a significant premium compared to the S&P 500 average of 23.99. To use another comparison, its price-to-book ratio of 11.28 indicates a significant premium versus the S&P 500 average of 2.74 and a significant discount versus the industry average of 868.31. 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 46.52 Peers 8915.73   MKTX NA Peers 7234.23

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.

 

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

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MKTX 33.88 Peers 12.79   MKTX 2.55 Peers 0.53

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 11.28 Peers 868.31   MKTX 23.14 Peers 37.64

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.

 

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

However, MKTX is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MKTX 14.70 Peers 1015.91   MKTX 14.11 Peers 8.71

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.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

MKTX has a sales growth rate that significantly exceeds its peers.

 

 

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