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Dec 31, 2021

MarketAxess Q4 2021 Earnings Report

Reported a decrease in revenue and operating income, but demonstrated growth in newer markets.

Key Takeaways

MarketAxess reported a decrease in fourth-quarter revenue by 3.7% to $165.1 million, and a decrease in operating income by 20.8% to $72.6 million, compared to Q4 2020. Diluted EPS also decreased by 28% to $1.37. However, the company saw record Eurobond market share and active total client firms.

Total revenues decreased by 3.7% to $165.1 million.

Operating income decreased by 20.8% to $72.6 million.

Diluted EPS decreased by 28% to $1.37.

Record active total client firms of 1,877 and international client firms of 956.

Total Revenue
$165M
Previous year: $171M
-3.7%
EPS
$1.37
Previous year: $1.91
-28.3%
Total Credit Trading Vol.
$604B
Total Rates Trading Vol.
$1.21T
US High-Grade Volume
$278B
Gross Profit
$124M
Previous year: $135M
-8.2%
Cash and Equivalents
$507M
Previous year: $461M
+10.0%
Free Cash Flow
$143M
Previous year: $226M
-36.7%
Total Assets
$1.5B
Previous year: $1.33B
+12.7%

MarketAxess

MarketAxess

MarketAxess Revenue by Segment

Forward Guidance

MarketAxess provided guidance for 2022, including expense expectations and capital expenditures.

Revenue & Expenses

Visualization of income flow from segment revenue to net income