MARKETAXESS HOLDINGS INC (MKTX) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K/A
Revenues:
Other						1.4	1.6	1.2
Commissions							332.3	266.2
Other						392.0	33.9	35.7
Total revenues [+]	718.3	699.0	689.1	511.4	435.6	393.4	367.7	303.1
Net interest income	5.4	1.2	2.7
Net investment income								0.9
Other income								1.7
Revenue growth [+]	2.8%	1.4%	34.8%	17.4%	10.7%	7.0%	21.3%	15.3%
Other						-7.2%	29.9%	42.4%
Commissions							24.8%	20.4%
Cost of goods sold [+]	196.2	184.2	170.3	142.7	131.0	114.2	107.4	91.9
Labor costs	182.1	170.9	156.9	131.1	109.1	102.3	96.6	83.9
Occupancy costs	14.1	13.3	13.4	11.6	14.2	6.1	4.7	4.7
Gross profit	522.1	514.7	518.8	368.6	304.5	279.2	260.4	211.2
Gross margin	72.7%	73.6%	75.3%	72.1%	69.9%	71.0%	70.8%	69.7%
Selling, general and administrative [+]	391.4	361.7	314.4	260.5	45.0	40.3	35.3	28.9
Sales and marketing					12.1	9.8	8.9	6.1
General and administrative [+]					32.9	30.5	26.3	22.7
General and administrative expenses					11.4	11.1	9.2	9.7
Professional fees					21.5	19.4	17.2	13.0
Other selling, general and administrative
Research and development	53.0	42.5	34.1	26.8	23.9	20.0	17.3	15.9
Other operating expenses	-322.6	-276.4	-239.5	-194.1
EBITDA [+]	400.3	386.9	409.8	275.4	235.7	218.9	207.8	166.4
EBITDA growth	3.5%	-5.6%	48.8%	16.9%	7.7%	5.3%	24.9%	22.5%
EBITDA margin	55.7%	55.4%	59.5%	53.9%	54.1%	55.6%	56.5%	54.9%
Depreciation	45.0	40.0	32.1	26.1	22.7	18.9	17.8	16.2
EBITA	355.2	346.9	377.7	249.4	213.0	200.0	190.0	150.2
EBITA margin	49.5%	49.6%	54.8%	48.8%	48.9%	50.8%	51.7%	49.6%
Amortization of intangibles	16.4	13.4	3.9	0.8	0.4	0.4		2.3
EBIT [+]	338.8	333.5	373.8	248.6	212.6	199.6	190.0	147.9
EBIT growth	1.6%	-10.8%	50.4%	16.9%	6.5%	5.1%	28.5%	24.8%
EBIT margin	47.2%	47.7%	54.2%	48.6%	48.8%	50.7%	51.7%	48.8%
Interest income				8.1	6.1	3.6	2.1
Interest income				8.1	6.1	3.6	2.1
Other income (expense), net	-0.6	0.5	0.5	0.8	-0.6	-1.5	-0.5
Pre-tax income	338.3	333.9	374.4	257.4	218.1	201.8	191.6	147.9
Income taxes	88.1	76.0	75.0	52.5	45.2	53.7	65.4	51.9
Tax rate	26.0%	22.8%	20.0%	20.4%	20.7%	26.6%	34.1%	35.1%
Net income	250.2	257.9	299.4	204.9	172.9	148.1	126.2	96.0
Net margin	34.8%	36.9%	43.4%	40.1%	39.7%	37.6%	34.3%	31.7%

Basic EPS [+]	$6.68	$6.88	$8.01	$5.53	$4.68	$4.02	$3.42	$2.62
Growth	-2.9%	-14.2%	45.0%	18.1%	16.4%	17.3%	30.8%	29.2%
Diluted EPS [+]	$6.65	$6.77	$7.85	$5.40	$4.57	$3.89	$3.34	$2.55
Growth	-1.8%	-13.8%	45.4%	18.2%	17.3%	16.4%	31.0%	29.2%

Dividends per share [+]	$2.80	$2.64	$2.40	$2.04	$1.68	$1.32	$1.04	$0.80
Growth	6.1%	10.0%	17.6%	21.4%	27.3%	26.9%	30.0%	25.0%

Shares outstanding (basic) [+]	37.5	37.5	37.4	37.1	37.0	36.9	36.8	36.7
Growth	-0.1%	0.4%	0.7%	0.3%	0.3%	0.1%	0.4%	-0.6%
Shares outstanding (diluted) [+]	37.6	38.1	38.1	38.0	37.9	38.0	37.7	37.6
Growth	-1.2%	-0.1%	0.5%	0.3%	-0.5%	0.8%	0.3%	-0.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.