Marketaxess Holdings (MKTX) Operating Expenses (2010 - 2026)

Marketaxess Holdings (MKTX) posted Operating Expenses of $132.5 million for Q1 2026, down 0.7% sequentially from $133.4 million in Q4 2025, and up 10.2% YoY from $120.2 million in Q1 2025.

Marketaxess Holdings (MKTX) Operating Expenses (2010 - 2026) Analysis & Trends

Marketaxess Holdings has reported Operating Expenses for 17 years, with the latest figure at $132.5 million in Q1 2026.

  • Quarterly Operating Expenses rose 10.2% year-over-year to $132.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $516.7 million (up 7.96% YoY) and the FY2025 annual result came in at $504.4 million, up 5.92% from the prior year.
  • Operating Expenses slipped to $132.5 million in Q1 2026 per MKTX's latest filing, from $133.4 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $133.4 million in Q4 2025 and troughed at $95.8 million in Q3 2022.
  • A 5-year average of $114.2 million and a median of $117.8 million in 2024 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2023 and 2024: Operating Expenses increased 19.95% in 2023, then gained 1.84% in 2024.
  • Over 5 years, Operating Expenses stood at $100.2 million in 2022, then advanced by 19.95% to $120.2 million in 2023, then gained by 1.84% to $122.4 million in 2024, then advanced by 8.96% to $133.4 million in 2025, then decreased by 0.7% to $132.5 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $132.5 million, $133.4 million, and $123.2 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 338.83 Bn 205.30 Bn - 13.90 Bn
2 Goldman Sachs 316.34 Bn -660.01 Bn - 11.67 Bn
3 Schwab Charles 220.55 Bn 135.80 Bn - 3.29 Bn
4 Futu Holdings 121.48 Bn 105.59 Bn 733.58 Mn -200.78 Mn
5 Robinhood Markets 84.07 Bn 66.74 Bn 1.20 Bn 734.00 Mn
6 Iren 68.17 Bn 65.95 Bn 104.86 Mn 81.75 Mn
7 ATIF Holdings 45.42 Bn 45.42 Bn - -
8 Interactive Brokers 39.54 Bn -3.28 Bn - 381.00 Mn
9 LPL Financial Holdings 28.27 Bn 25.57 Bn - 4.67 Bn
10 Marketaxess Holdings 6.70 Bn 6.28 Bn - 132.46 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 132.46 Mn
Dec 31, 2025 133.40 Mn
Sep 30, 2025 123.24 Mn
Jun 30, 2025 127.60 Mn
Mar 31, 2025 120.19 Mn
Dec 31, 2024 122.43 Mn
Sep 30, 2024 119.66 Mn
Jun 30, 2024 116.32 Mn
Mar 31, 2024 117.82 Mn
Dec 31, 2023 120.22 Mn
Sep 30, 2023 105.38 Mn
Jun 30, 2023 104.12 Mn
Mar 31, 2023 107.81 Mn
Dec 31, 2022 100.23 Mn
Sep 30, 2022 95.80 Mn
Jun 30, 2022 97.44 Mn
Mar 31, 2022 97.95 Mn
Dec 31, 2021 92.48 Mn
Sep 30, 2021 88.09 Mn
Jun 30, 2021 89.16 Mn