MarketAxess Holdings Inc

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MKTX : NASDAQ : Financial
$191.68 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 162200.0
05/24/17 - 4:00 PM ET

Financial Analysis


MARKETAXESS HOLDINGS INC's gross profit margin for the first quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry.

During the same period, stockholders' equity ("net worth") has increased by 17.52% from the same quarter last year.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)103.8988.57
EBITDA ($mil)60.349.05
EBIT ($mil)55.6144.37
Net Income ($mil)42.4628.96


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)191.96139.5
Total Assets ($mil)530.71451.84
Total Debt ($mil)0.00.0
Equity ($mil)482.36410.42


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin58.0455.38
EBITDA Margin58.0455.37
Operating Margin53.5250.09
Sales Turnover0.730.7
Return on Assets26.3122.22
Return on Equity28.9524.46
Debt Q1 FY17 Q1 FY16
Current Ratio0.00.0
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)37.5437.57
Div / share0.330.26
EPS1.110.77
Book value / share12.8510.92
Institutional Own % n/a n/a
Avg Daily Volume163939.0232620.0

Valuation


BUY. MARKETAXESS HOLDINGS INC's P/E ratio indicates a significant premium compared to an average of 20.16 for the Capital Markets industry and a significant premium compared to the S&P 500 average of 25.02. For additional comparison, its price-to-book ratio of 14.17 indicates a significant premium versus the S&P 500 average of 3.00 and a significant premium versus the industry average of 3.55. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, MARKETAXESS HOLDINGS INC proves to trade at a premium 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 49.34 Peers 20.16   MKTX 40.64 Peers 17.68

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

MKTX is trading at a significant premium to its peers.

 

Premium. 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 premium 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 35.45 Peers 16.89   MKTX 1.83 Peers 1.05

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 14.17 Peers 3.55   MKTX 38.72 Peers 57.45

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

MKTX is trading at a significant premium 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 17.74 Peers 3.82   MKTX 22.33 Peers 10.47

Premium. 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 premium to its industry.

 

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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