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MarketAxess HoldingsMKTX -0.09%71 EV-to-OCF is 28.40 as of Sep. 10, 2026, which is 28% below its 10-year median of 39.36. GuruFocus rates MKTX with a GF Score™ of 71/100 and a GF Value™ of $248.83 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 806 Capital Markets companies, MarketAxess Holdings ranks worse than 88.96% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, MarketAxess Holdings's Enterprise Value is $5,687.2 Mil.
MarketAxess Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $200.3 Mil. Therefore, MarketAxess Holdings's EV-to-OCF for today is 28.40.
The historical rank and industry rank for MarketAxess Holdings's EV-to-OCF or its related term are showing as below:
MKTX'
s EV-to-OCF Range Over the Past 10 Years
Min: 13.87 Med: 39.36 Max: 99.79
Current: 28.4
During the past 13 years, the highest EV-to-OCF of MarketAxess Holdings was 99.79. The lowest was 13.87. And the median was 39.36.
MKTX's EV-to-OCF is ranked worse than 88.96% of 806
companies
in the Capital Markets industry
Industry Median: -0.26
vs MKTX: 28.40
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
MarketAxess Holdings's PE Ratio (TTM) for today is calculated as:
MarketAxess Holdings's share price for today is $163.09.
MarketAxess Holdings's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $8.480.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
MarketAxess Holdings EV-to-OCF Related Terms
MarketAxess Holdings EV-to-OCF Historical Data
* Premium members only.
The historical data trend for MarketAxess Holdings's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Capital Markets subindustry, MarketAxess Holdings's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
MarketAxess Holdings EV-to-OCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, MarketAxess Holdings's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where MarketAxess Holdings's EV-to-OCF falls into.
MarketAxess Holdings's current Enterprise Value is $5,687.2 Mil.
MarketAxess Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $200.3 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MarketAxess Holdings (MKTX) has a EV-to-OCF of 28.40 as of Sep. 10, 2026. This is 28% below median its historical median of 39.36. Over the past decade, MarketAxess Holdings' EV-to-OCF has ranged from 13.87 to 99.79. According to the industry distribution chart, MarketAxess Holdings ranks #717 out of 806 companies in the Capital Markets industry, placing it in the top 89%.
Is MarketAxess Holdings' EV-to-OCF too high?
MarketAxess Holdings' current EV-to-OCF of 28.40 is 28% below median its 10-year median of 39.36. Over the past 10 years, this metric has ranged from a low of 13.87 to a high of 99.79. Based on the distribution chart, MarketAxess Holdings ranks #717 out of 806 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, MarketAxess Holdings has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does MarketAxess Holdings' EV-to-OCF compare to BGC and VIRT?
According to the Capital Markets industry distribution chart, MarketAxess Holdings ranks #717 out of 806 companies for EV-to-OCF. This places MarketAxess Holdings in the lower half of its industry. Historically, MarketAxess Holdings' own EV-to-OCF has ranged from 13.87 to 99.79 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Capital Markets company?
A good EV-to-OCF depends on the Capital Markets industry context. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. MarketAxess Holdings's current EV-to-OCF is 28.40, which is 28% below median its own 10-year median of 39.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MarketAxess Holdings stock overvalued right now?
Based on GuruFocus' analysis, MarketAxess Holdings (MKTX) is currently considered Possible Value Trap. The stock's GF Value™ is $248.83, compared to a current price of $163.09 — trading 34.5% below its estimated fair value. The current EV-to-OCF is 28.40, which is 28% below median its 10-year median of 39.36. MarketAxess Holdings' overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For MarketAxess Holdings (MKTX), the current EV-to-OCF is 28.40 as of Sep. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MarketAxess Holdings (MKTX) Overvalued in 2026?
Based on GuruFocus' analysis, MarketAxess Holdings stock appears to be undervalued.
The current stock price of $163.09 is trading 34.5% below its estimated GF Value™ of $248.83.
GuruFocus considers MarketAxess Holdings to be Possible Value Trap.
Key valuation signals for MKTX:
EV-to-OCF: 28.40 (28% below median its 10-year median of 39.36)
GF Value™: $248.83 vs. price of $163.09 (34.5% below fair value)
No single metric tells the full story. See the MKTX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 2000, MarketAxess is a leading electronic fixed-income trading platform that connects broker/dealers and institutional investors. The company is primarily focused on credit based fixed income securities with its main trading products being US investment-grade and high-yield bonds, Eurobonds, and Emerging Market corporate debt. Recently the company has expanded more aggressively into Treasuries and municipal bonds with the acquisitions of LiquidityEdge and MuniBrokers in 2019 and 2021, respectively. The company also provides pre- and post-trade services with its acquisition of Regulatory Reporting Hub from Deutsche Börse Group in 2020 adding to its product offerings.
71GF Score
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