MarketAxess Holdings Inc.
Find Ratings ReportsMARKETAXESS HOLDINGS INC's gross profit margin for the fourth quarter of its fiscal year 2023 has decreased when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the subsector average, its revenue growth has not.
During the same period, stockholders' equity ("net worth") has increased by 19.59% from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 203.52 | 181.2 |
EBITDA ($mil) | 102.83 | 96.7 |
EBIT ($mil) | 83.3 | 80.97 |
Net Income ($mil) | 69.63 | 59.23 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 622.28 | 570.62 |
Total Assets ($mil) | 2015.07 | 1607.78 |
Total Debt ($mil) | 79.87 | 82.68 |
Equity ($mil) | 1292.96 | 1081.09 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 50.53 | 53.37 |
EBITDA Margin | 50.52 | 53.36 |
Operating Margin | 40.93 | 44.68 |
Sales Turnover | 0.38 | 0.45 |
Return on Assets | 12.8 | 15.56 |
Return on Equity | 19.96 | 23.15 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.06 | 0.07 |
Interest Expense | 1.64 | 0.05 |
Interest Coverage | 50.92 | 1557.06 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 37.9 | 37.65 |
Div / share | 0.72 | 0.7 |
EPS | 1.84 | 1.58 |
Book value / share | 34.12 | 28.72 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 423030.0 | 428770.0 |
HOLD. This stock's P/E ratio indicates a significant discount compared to an average of 49.70 for the Securities, Commodity Contracts, Financial Investm subsector and a premium compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 6.35 indicates a significant premium versus the S&P 500 average of 4.68 and a significant premium versus the subsector average of 3.54. The price-to-sales ratio is well above both the S&P 500 average and the subsector average, indicating a premium.
Price/Earnings |
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Price/Cash Flow |
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MKTX 31.62 | Peers 49.70 | MKTX 24.60 | Peers 29.90 | |||||||||||||||||||||
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 discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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MKTX 25.82 | Peers 19.20 | MKTX 4.61 | Peers 1.61 | |||||||||||||||||||||
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. |
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Price/Book |
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Earnings Growth |
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MKTX 6.35 | Peers 3.54 | MKTX 3.00 | Peers 71.14 | |||||||||||||||||||||
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. |
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Price/Sales |
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Sales Growth |
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MKTX 10.59 | Peers 5.47 | MKTX 7.13 | Peers 38.40 | |||||||||||||||||||||
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 subsector. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. MKTX significantly trails its peers on the basis of sales growth. |
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