MarketAxess Holdings (MIL:1MKTX) ROCE %: 28.21% (As of Mar. 2026)

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MIL:1MKTX MarketAxess Holdings Inc MIL:1MKTX
71 GF Score
Price €150.40
GF Value €235.88
! 5 Warning Signs
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What is MarketAxess Holdings ROCE %?

MarketAxess Holdings MIL:1MKTX 71 ROCE % is 28.21% as of Mar. 2026. GuruFocus rates MIL:1MKTX with a GF Score™ of 71/100 and a GF Value™ of €235.88. The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. MarketAxess Holdings's annualized ROCE % for the quarter that ended in Mar. 2026 was 28.21%.

MarketAxess Holdings  (MIL:1MKTX) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

MarketAxess Holdings ROCE % Related Terms

MarketAxess Holdings ROCE % Historical Data

* Premium members only.

The historical data trend for MarketAxess Holdings's ROCE % 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.

MarketAxess Holdings ROCE % Chart

MarketAxess Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 30.14 29.03 24.89 24.93 22.84

MarketAxess Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 25.47 24.51 21.31 28.21 24.40
MIL:1MKTX
71GF Score
MarketAxess Holdings Inc MIL:1MKTX
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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MarketAxess Holdings ROCE % Calculation

MarketAxess Holdings's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=314.684/( ( (1708.701 - 248.155) + (1652.393 - 356.81) )/ 2 )
=314.684/( (1460.546+1295.583)/ 2 )
=314.684/1378.0645
=22.84 %

MarketAxess Holdings's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=369.436/( ( (1652.393 - 356.81) + (1990.829 - 666.846) )/ 2 )
=369.436/( ( 1295.583 + 1323.983 )/ 2 )
=369.436/1309.783
=28.21 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 28.21% mean?
MarketAxess Holdings (MIL:1MKTX) has a ROCE % of 28.21% as of Mar. 2026.
Is MarketAxess Holdings' ROCE % too high?
MarketAxess Holdings' current ROCE % is 28.21%. The Capital Markets industry median ROCE % is 6.04. MarketAxess Holdings' value of 28.21% is 367.1% above this industry median. Overall, MarketAxess Holdings has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does MarketAxess Holdings' ROCE % compare to MIAX and GLXY?
MarketAxess Holdings' ROCE % of 28.21% can be compared against companies in the Capital Markets industry. The industry median ROCE % is 6.04. MarketAxess Holdings' value of 28.21% is 367.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Capital Markets company?
The median ROCE % among Capital Markets companies is 6.04, based on 689 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MarketAxess Holdings's current ROCE % of 28.21% is 367.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Capital Markets industry, the median ROCE % is 6.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MarketAxess Holdings's current ROCE % is 28.21%. 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?
MarketAxess Holdings (MIL:1MKTX) has a current ROCE % of 28.21%. The stock's GF Value™ is €235.88, compared to a current price of €150.40 — trading 36.2% below its estimated fair value. The current ROCE % is 28.21% and 367.1% above the Capital Markets industry median of 6.04. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For MarketAxess Holdings (MIL:1MKTX), the current ROCE % is 28.21% as of Mar. 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 (MIL:1MKTX) Overvalued in 2026?

Based on GuruFocus' analysis, MarketAxess Holdings stock appears to be undervalued. The current stock price of €150.40 is trading 36.2% below its estimated GF Value™ of €235.88.

Key valuation signals for MIL:1MKTX:

  • ROCE %: 28.21%
  • GF Value™: €235.88 vs. price of €150.40 (36.2% below fair value)
  • GF Score™: 71/100 with 5 warning signs
  • Industry Position: 367.1% above the Capital Markets median

No single metric tells the full story. See the MIL:1MKTX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MarketAxess Holdings Business Description

Address 55 Hudson Yards, New York, NY, USA, 10001
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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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€150.40
Price
€235.88
GF Value