MarketAxess Holdings (MEX:MKTX) Scaled Net Operating Assets: 0.58 (As of Mar. 2026)


MEX:MKTX MarketAxess Holdings Inc MEX:MKTX
69 GF Score
Price MXN2,756.00
GF Value MXN6,136.25
! 4 Warning Signs
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What is MarketAxess Holdings Scaled Net Operating Assets?

MarketAxess Holdings MEX:MKTX 69 Scaled Net Operating Assets is 0.58 as of Mar. 2026. GuruFocus rates MEX:MKTX with a GF Score™ of 69/100 and a GF Value™ of MXN6,136.25. The stock has 4 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

MarketAxess Holdings's operating assets for the quarter that ended in Mar. 2026 was MXN34,699 Mil. MarketAxess Holdings's operating liabilities for the quarter that ended in Mar. 2026 was MXN14,528 Mil. MarketAxess Holdings's Total Assets for the quarter that ended in Dec. 2025 was MXN34,839 Mil. Therefore, MarketAxess Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.58.

MarketAxess Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for MarketAxess Holdings's Scaled Net Operating Assets 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 Scaled Net Operating Assets Chart

MarketAxess Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.47 0.43 0.46 0.50 0.45

MarketAxess Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.47 0.49 0.49 0.45 0.58

MEX:MKTX vs LAZ, PJT, CLSK: Scaled Net Operating Assets Comparison

For the Capital Markets subindustry, MarketAxess Holdings's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, MarketAxess Holdings's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where MarketAxess Holdings's Scaled Net Operating Assets falls into.


MEX:MKTX
69GF Score
MarketAxess Holdings Inc MEX:MKTX
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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MarketAxess Holdings Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

MarketAxess Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(25480.803-8853.205)/37315.352
=0.45

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=34838.977 - 9358.174
=25480.803

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=13983.713 - 5130.508 - 0
=8853.205

MarketAxess Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(34699.134-14528.189)/34838.977
=0.58

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=41502.908 - 6803.774
=34699.134

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=19793.034 - 5264.845 - 0
=14528.189

* 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.

What does a Scaled Net Operating Assets of 0.58 mean?
MarketAxess Holdings (MEX:MKTX) has a Scaled Net Operating Assets of 0.58 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on MarketAxess Holdings and its competitors.
Is MarketAxess Holdings' Scaled Net Operating Assets too high?
MarketAxess Holdings' current Scaled Net Operating Assets is 0.58. Overall, MarketAxess Holdings has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does MarketAxess Holdings' Scaled Net Operating Assets compare to LAZ and PJT?
MarketAxess Holdings' Scaled Net Operating Assets of 0.58 can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Capital Markets company?
A good Scaled Net Operating Assets depends on the Capital Markets industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on MarketAxess Holdings and its competitors. MarketAxess Holdings's current Scaled Net Operating Assets is 0.58. 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 (MEX:MKTX) has a current Scaled Net Operating Assets of 0.58. The stock's GF Value™ is MXN6,136.25, compared to a current price of MXN2,756.00 — trading 55.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.58. MarketAxess Holdings' overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For MarketAxess Holdings (MEX:MKTX), the current Scaled Net Operating Assets is 0.58 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 (MEX:MKTX) Overvalued in 2026?

Based on GuruFocus' analysis, MarketAxess Holdings stock appears to be undervalued. The current stock price of MXN2,756.00 is trading 55.1% below its estimated GF Value™ of MXN6,136.25.

Key valuation signals for MEX:MKTX:

  • Scaled Net Operating Assets: 0.58
  • GF Value™: MXN6,136.25 vs. price of MXN2,756.00 (55.1% below fair value)
  • GF Score™: 69/100 with 4 warning signs

No single metric tells the full story. See the MEX:MKTX 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.
69GF Score

Get the complete analysis for MEX:MKTX

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN2,756.00
Price
MXN6,136.25
GF Value