MarketAxess Holdings Inc. (M1KT34) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of MarketAxess Holdings Inc. BRL 12.71, price BRL 17.14, upside -25.9%, quality 82 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range R$11.26 – R$46.98 · fair‑value band R$8.82 – R$16.60 · the R$17.14 price screens above the R$12.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S.
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MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S. government bonds, and other fixed-income securities; and executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds through its Open Trading protocols. It also provides automated and algorithmic trading solutions, such as X-Pro, a trading platform to combine trading protocols with its proprietary data and pre-trade analytics; and integrated and actionable data offerings, including CP+ and Axess All, a real-time pricing engine, including Auto-X and portfolio trading. In addition, the company offers various pre-and post-trade services, such as processing, trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. The company was incorporated in 2000 and is headquartered in New York, New York.
Stock analysis
MarketAxess Holdings Inc. (M1KT34) currently trades at R$17.14, while our model-based Fair Value estimate is R$12.71, 25.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of R$17.88 per share, and 3 of the 12 models we run sit above the R$17.14 price.
Bear case: the Asset-Based group reads lowest at R$2.26, and 9 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$8.82 (bear) to R$16.60 (bull), the price of R$17.14 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 82/100 (high quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
MarketAxess Holdings Inc. reported revenue of $848M in FY2025 versus $718M in FY2022, a compound +5.7%/yr. Reported net income was $247M in FY2025, compounding −0.5%/yr from FY2022.
Key figures
Market cap R$21.0B (≈ $4.0B) · P/E ratio 19.5 · P/S ratio 5.67 · EPS (TTM) R$0.8800 · Net margin 29.1% · Return on equity 24.3% · Return on assets (EBIT) 18.5% · Operating margin 43.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −26%, M1KT34 screens richer than that median.
Fair Value models
Bear R$8.82Fair Value R$12.71Bull R$16.60
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$0.6654 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−0.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.5%
Dividend (yield on the price)0.0%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.46% → 41%
Compare MarketAxess Holdings Inc. with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 458 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score82 · Top 25%
Fair Value upside+48.7% · Above median
Profitability
Return on equity (TTM)24.3% · Top 25%
Return on assets10.8% · Top 25%
Net margin (TTM)35.5% · Above median
Operating margin (TTM)43.9% · Above median
Growth and dividend
Revenue growth11.9% · Below median
Dividend yield (TTM)17.9% · Top 25%
Balance sheet
Debt / equity0.19× · Above median
Valuation Multiplesvs Capital Markets median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "MarketAxess Holdings Inc. Fair Value". https://www.fairvalue-calculator.com/stock/M1KT34
Frequently asked questions
Is MarketAxess Holdings Inc. (M1KT34) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$12.71 versus a price of R$17.14, about −26% upside (overvalued).
What is the fair value of M1KT34?
Our model-based fair value for MarketAxess Holdings Inc. is R$12.71 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$17.14.
What is the quality score of M1KT34?
MarketAxess Holdings Inc. has a Quality Score of 82/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for MarketAxess Holdings Inc. (M1KT34)?
Our model-based price target is the fair value of R$12.71 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario R$8.82, optimistic scenario R$16.60. It is a calculation from audited fundamentals, not an analyst target.
What is the MarketAxess Holdings Inc. stock forecast for 2026?
Our models put fair value at R$12.71, about −26% upside versus a price of R$17.14 (overvalued). Cautious scenario R$8.82, optimistic scenario R$16.60. The calculation is refreshed regularly with new filings.
What is the revenue of MarketAxess Holdings Inc. (M1KT34)?
MarketAxess Holdings Inc. reported trailing-twelve-month revenue of about $871M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of MarketAxess Holdings Inc. (M1KT34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MarketAxess Holdings Inc. it is R$12.71 per share (as of Sep 24, 2026), against a price of R$17.14. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is MarketAxess Holdings Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, M1KT34 trades above its calculated fair value: price R$17.14, fair value R$12.71, a gap of about −26% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of M1KT34?
No. The price is what the market pays today (R$17.14); the fair value is what the company's own numbers justify (R$12.71). For MarketAxess Holdings Inc. the two are R$4.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is MarketAxess Holdings Inc. worth?
The market values MarketAxess Holdings Inc. at about R$21.0B (market capitalisation, as of Sep 24, 2026). Per share that is R$17.14; our models calculate a fair value of R$12.71 per share.
What do the bullish and bearish scenarios say about M1KT34?
Our models span a range for MarketAxess Holdings Inc.: cautious scenario R$8.82, base R$12.71, optimistic R$16.60 per share (as of Sep 24, 2026, price R$17.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of M1KT34?
MarketAxess Holdings Inc. trades at a price-to-earnings ratio of 19.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$12.71 is built from several models across several years. Other multiples: PEG 1.0.
What is the PEG ratio of M1KT34?
The PEG ratio of MarketAxess Holdings Inc. is 0.96 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of MarketAxess Holdings Inc. (M1KT34)?
Balance-sheet figures for MarketAxess Holdings Inc. (as of Sep 24, 2026): return on equity 24.3%, debt of 0.19 per unit of equity. They feed the Quality Score of 82/100, which measures business quality independently of the share price.
How far is M1KT34 from its 52-week high?
MarketAxess Holdings Inc. trades at R$17.14, about 15% below its 52-week high of R$20.27 and 52% above the low of R$11.26 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$12.71 is for.
Which stocks are comparable to MarketAxess Holdings Inc.?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is MarketAxess Holdings Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price R$17.14, calculated fair value R$12.71 (−26%), Quality Score 82/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of M1KT34 calculated?
We run MarketAxess Holdings Inc. through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$12.71, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. MarketAxess Holdings Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of MarketAxess Holdings Inc. (M1KT34)?
The closing price on Oct 2, 2026 was R$17.14. Our model-based fair value is R$12.71, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MarketAxess Holdings Inc. right now?
A high-quality business (quality 82/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (R$16.60). The favourable scenario is already priced in. A fairly wide model range (R$8.82 to R$16.60) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of MarketAxess Holdings Inc.
How large is the market capitalisation of MarketAxess Holdings Inc. (M1KT34)?
The market capitalisation of MarketAxess Holdings Inc. is R$21.0B (≈ $4.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of MarketAxess Holdings Inc. (M1KT34)?
The price-to-sales ratio of MarketAxess Holdings Inc. is 5.67 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MarketAxess Holdings Inc. (M1KT34)?
Earnings per share at MarketAxess Holdings Inc. are R$0.8800 (price ÷ EPS = P/E 19.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MarketAxess Holdings Inc. (M1KT34)?
The net margin of MarketAxess Holdings Inc. is 29.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of MarketAxess Holdings Inc. (M1KT34)?
The return on equity (ROE) of MarketAxess Holdings Inc. is 24.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of MarketAxess Holdings Inc. (M1KT34)?
On an EBIT basis the return on assets of MarketAxess Holdings Inc. is 18.5% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of MarketAxess Holdings Inc. (M1KT34)?
The operating margin of MarketAxess Holdings Inc. is 43.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MarketAxess Holdings Inc. (M1KT34)?
Revenue at MarketAxess Holdings Inc. is growing +11.9% versus a year earlier (3y avg +5.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at MarketAxess Holdings Inc. (M1KT34)?
Earnings per share at MarketAxess Holdings Inc. are growing +450% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does MarketAxess Holdings Inc. (M1KT34) generate?
The free cash flow of MarketAxess Holdings Inc. is $324M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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