Added to YB: 2024-10-17
Pitch date: 2024-10-15
MKTX [neutral]
MarketAxess Holdings Inc.
-35.86%
current return
Author Info
Long-Term Pick shares in-depth stock analysis on high-quality stocks with growth potential. Sign up for the newsletter.
Company Info
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.
Market Cap
$6.7B
Pitch Price
$281.71
Price Target
N/A
Dividend
1.74%
EV/EBITDA
14.70
P/E
27.01
EV/Sales
7.62
Sector
Capital Markets
Category
growth
MarketAxess: Leader In Electronic Fixed-Income Trading But Overpriced
MKTX (pass - overvalued): Leading electronic fixed-income platform, 88% revenue from commissions. Strong in US high-grade bonds (85% e-market share). Moat from network effects, 2100+ clients. High margins, ROIC. $530M cash, no debt. Challenges: rising expenses, interest rates, competition. Overpriced despite below 5-yr averages. Fair value $192.89.
Read full article (10 min)