Marketaxess Holdings Intrinsic Value – MARKETAXESS HOLDINGS Reports Q2 Earnings of USD 179.8 Million, Down 1.3% Y/Y
August 21, 2023
🌥️Earnings Overview
MARKETAXESS HOLDINGS ($NASDAQ:MKTX) released their FY2023 Q2 earnings results on July 20 2023, revealing a 1.3% drop in total revenue to USD 179.8 million compared to the same quarter in the previous year. Net income for the quarter also decreased by 10.5%, standing at USD 59.9 million.
Analysis – Marketaxess Holdings Intrinsic Value
GoodWhale’s financial analysis of MARKETAXESS HOLDINGS shows that its fair value per share is estimated to be around $373.3. This figure is calculated by our proprietary Valuation Line, which is based on a company’s financial statement and market conditions. Currently, MARKETAXESS HOLDINGS stock is trading at $266.9, which is 28.5% lower than the fair value assessment. This suggests that MARKETAXESS HOLDINGS stock is undervalued and could be a good opportunity for investors to consider. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Marketaxess Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 733.03 | 252.02 | 34.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Marketaxess Holdings. More…
| Operations | Investing | Financing |
| 320.49 | -86.27 | -242.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Marketaxess Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.62k | 454.1 | 30.93 |
Key Ratios Snapshot
Some of the financial key ratios for Marketaxess Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.0% | 0.3% | 45.8% |
| FCF Margin | ROE | ROA |
| 36.6% | 18.4% | 13.0% |
Peers
MarketAxess Holdings Inc is a leading financial markets technology company. It provides an electronic trading platform for fixed income securities, including corporate bonds, government and agency bonds, asset-backed securities, and credit default swaps. The company’s competitors include Tradeweb Markets Inc, Aryaman Capital Markets Ltd, and Matsui Securities Co Ltd.
– Tradeweb Markets Inc ($NASDAQ:TW)
Tradeweb Markets Inc is a financial markets platform company. It has a market cap of 10.91B and a ROE of 6.51%. The company offers electronic trading for a variety of fixed income products, including government bonds, corporate bonds, mortgage-backed securities, and credit default swaps. It also provides post-trade processing and analytics. The company was founded in 1996 and is headquartered in New York, New York.
– Aryaman Capital Markets Ltd ($BSE:538716)
With a market cap of 707.85M as of 2022, Aryaman Capital Markets Ltd is a company that is doing quite well. The company has a Return on Equity of 10.69%. The company deals in providing financial services and is based in India. The company is doing quite well in terms of its market cap and ROE.
– Matsui Securities Co Ltd ($TSE:8628)
Matsui Securities Co., Ltd. is a Japanese securities firm headquartered in Tokyo. It is a member of the Nikkei 225 stock index. The company was founded in 1931 and its current president is Takuya Matsui. The company offers a range of services including retail and institutional brokerage, investment banking, and research. It has offices in Tokyo, Osaka, Nagoya, and Fukuoka.
Summary
MarketAxess Holdings reported their second quarter earnings for FY 2023 with a total revenue of USD 179.8 million, a 1.3% decrease from the same quarter last year. Net income saw a 10.5% decrease year over year, coming in at USD 59.9 million. This could be an indication of potential challenges faced by the company due to the current pandemic situation, and investors should keep a close eye on the company’s performance in upcoming quarters. Additionally, it is important to compare MarketAxess against its peers to better understand the competitive landscape and the potential opportunities for growth in the industry.
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