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Statement
Assets, liabilities and equity aligned across the annual filing history, in USD millions.
Assets
+8.1% YoYReported for FY 2025
Liabilities
+93.9% YoYReported for FY 2025
Equity
-17.5% YoYReported for FY 2025
Equity mix
-18.0 ppEquity share of the capital base
Table view
Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Commentary
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated Jun 2, 2026. The filing-backed figures above are the current source of truth.
MarketAxess Holdings Inc. shows a generally strong and expanding balance sheet over the five-year period, with total assets rising from $1.53 billion in 2021 to $1.93 billion in 2025, despite some volatility in between. Assets increased steadily through 2022 and peaked in 2023 at just over $2.02 billion before easing in 2024 and then rebounding in 2025. This pattern suggests the company has maintained a solid asset base, with fluctuations likely reflecting changes in cash, investments, or operating assets typical of a capital-light financial services platform. Liabilities have moved more unevenly, increasing from $489 million in 2021 to $777 million in 2025, with a particularly notable jump in 2025 after a much lower level in 2024. Stockholders’ equity has remained robust throughout, growing from $1.04 billion in 2021 to a high of $1.39 billion in 2024 before slipping to $1.15 billion in 2025. The 2024 balance sheet stands out for its unusually low liabilities and strong equity position, while 2025 shows a partial reversal. Overall, MarketAxess continues to exhibit a strong equity cushion and conservative financial profile, consistent with a high-margin, market infrastructure business that typically carries limited leverage.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.