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MKTX
MarketAxessStock · Financials
$116.72+$2.41 (+2.11%)as of market close, Jul 24, 2026
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How MarketAxess makes money

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How does MarketAxess make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

MarketAxess · FY2025 · year ended 2025-12-31
Revenue$846MGross profit$846M · 100%Cost of revenue$0 · 0%Operating income$342M · 40%Operating expenses$504M · 60%SG&A$27M · 3%Other opex$478M · 56%Pre-tax income$367M · 43%Other income$25M · 3%Net income$247M · 29%Income tax$120M · 14%Commission Revenue$735M · 87%Information Services$53M · 6%Post Trade Services$44M · 5%Technology Services$14M · 2%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.