Marketaxess Holdings (MKTX) Operating Margin (2010 - 2026)
Marketaxess Holdings (MKTX) posted Operating Margin of 43.24% for Q1 2026, up 19.13% sequentially from 36.3% in Q4 2025, and up 87.0% YoY from 23.12% in Q1 2025.
Marketaxess Holdings (MKTX) Operating Margin (2010 - 2026) Analysis & Trends
Marketaxess Holdings has reported Operating Margin for 17 years, with the latest figure at 43.24% in Q1 2026.
- Quarterly Operating Margin rose 87.0% year-over-year to 43.24% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 40.68% (down 62.0% YoY) and the FY2025 annual result came in at 40.39%, down 132.0% from the prior year.
- Operating Margin rose to 43.24% in Q1 2026 per MKTX's latest filing, from 36.3% in the prior quarter.
- Over five years, Operating Margin peaked at 47.35% in Q1 2022 and troughed at 36.3% in Q4 2025.
- A 5-year average of 42.37% and a median of 42.11% in 2024 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2024: Operating Margin plunged 558 bps in 2022, then surged 328 bps in 2024.
- Over 5 years, Operating Margin stood at 43.66% in 2022, then slipped by 11 bps to 39.05% in 2023, then grew by 1 bps to 39.51% in 2024, then fell by 8 bps to 36.3% in 2025, then gained by 19 bps to 43.24% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 43.24%, 36.3%, and 40.98% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 338.83 Bn | 205.30 Bn | - | - |
| 2 | Goldman Sachs | 316.34 Bn | -660.01 Bn | - | - |
| 3 | Schwab Charles | 220.55 Bn | 135.80 Bn | - | - |
| 4 | Futu Holdings | 121.48 Bn | 105.59 Bn | 733.58 Mn | 149.71% |
| 5 | Robinhood Markets | 84.07 Bn | 66.74 Bn | 1.20 Bn | 35.93% |
| 6 | Iren | 68.17 Bn | 65.95 Bn | 104.86 Mn | -161.28% |
| 7 | ATIF Holdings | 45.42 Bn | 45.42 Bn | - | - |
| 8 | Interactive Brokers | 39.54 Bn | -3.28 Bn | - | - |
| 9 | LPL Financial Holdings | 28.27 Bn | 25.57 Bn | - | - |
| 10 | Marketaxess Holdings | 6.70 Bn | 6.28 Bn | - | 43.24% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 43.24% |
| Dec 31, 2025 | 36.30% |
| Sep 30, 2025 | 40.98% |
| Jun 30, 2025 | 41.86% |
| Mar 31, 2025 | 42.37% |
| Dec 31, 2024 | 39.51% |
| Sep 30, 2024 | 42.11% |
| Jun 30, 2024 | 41.15% |
| Mar 31, 2024 | 43.98% |
| Dec 31, 2023 | 39.05% |
| Sep 30, 2023 | 38.84% |
| Jun 30, 2023 | 42.11% |
| Mar 31, 2023 | 46.93% |
| Dec 31, 2022 | 43.66% |
| Sep 30, 2022 | 44.34% |
| Jun 30, 2022 | 46.53% |
| Mar 31, 2022 | 47.35% |
| Dec 31, 2021 | 43.97% |
| Sep 30, 2021 | 45.65% |
| Jun 30, 2021 | 49.44% |