MarketAxess reported disappointing third-quarter results as ongoing pressure on its US corporate bond business was a headwind. Revenue increased 1% year over year to $210 million, while adjusted diluted earnings per share stayed nearly unchanged at $1.86.
If MarketAxess can increase electronic penetration of corporate block trades, its market share will improve more than expected.
MarketAxess’ revenue base is mostly transactional, so weakness in corporate bond trading would likely lead to a decline in revenue.
|
Metric
|
MKTX
|
CME
|
TW
|
|---|---|---|---|
Price/Earnings (Normalized) | 21.33 | 25.82 | 32.34 |
Price/Book Value | 4.55 | 4.11 | 3.90 |
Price/Sales | 6.73 | 15.82 | 11.89 |
Price/Cash Flow | 13.11 | 25.01 | 21.66 |
|
Metric
|
MKTX
|
CME
|
TW
|
|---|---|---|---|
Quick Ratio | 1.57 | 0.02 | 4.34 |
Current Ratio | 1.76 | 1.02 | 4.44 |
Interest Coverage | 59.93 | 32.98 | 597.03 |
|
Metric
|
MKTX
|
CME
|
TW
|
|---|---|---|---|
Return on Assets (Normalized) | 15.69% | — | 10.99% |
Return on Equity (Normalized) | 26.35% | — | 13.95% |
Return on Invested Capital (Normalized) | 22.06% | — | 11.63% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| Morgan Stanley
MS
| LOCK|k>r<WXx | LOCK|lqG | $281B | |||
| The Goldman Sachs Group Inc
GS
| LOCK|$#>^d?# | LOCK|zd% | $255B | |||
| Charles Schwab Corp
SCHW
| LOCK|BLlh<dl | LOCK|FKP | $157B | |||
| Robinhood Markets Inc Class A
HOOD
| LOCK|FyZgCp | LOCK|QT^xJ | $85B | |||
| Interactive Brokers Group Inc Class A
IBKR
| LOCK|?&f$m! | LOCK|^$? | $36B | |||
| Tradeweb Markets Inc
TW
| LOCK|p>^@XT$& | LOCK|&@ | $26B | |||
| LPL Financial Holdings Inc
LPLA
| LOCK|VTs^>$ | LOCK|WS | $25B | |||
| Jefferies Financial Group Inc
JEF
| LOCK|Vj>g@^N | LOCK|Gl$ | $10B | |||
| IREN Ltd
IREN
| LOCK|K&pkw&^ | LOCK|klm | $10B | |||
| Stifel Financial Corp
SF
| LOCK|fYNy&Rv | LOCK|mMF?? | $10B |
United States