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MarketAxess Holdings vs Cohen: MKTX and COHN compared
MarketAxess Holdings is the larger company: $210M of revenue in its latest quarter (Q3 2026) against $69.5M for Cohen (Q2 2026). Cohen is growing faster (+16% against +0.8% a year earlier). MarketAxess Holdings is more profitable, with an operating margin of 35.4% against 17.9%.
Where the money goes: MKTX and COHN
MarketAxess Holdings (MKTX) · Q3 2026
MarketAxess Holdings, Q3 2026: revenue $210M (+0.8% year over year), operating margin 35.4%, net earnings $54.0M, operating cash flow $247M. The chart follows the revenue to costs, profit and cash.
Cohen (COHN) · Q2 2026
Cohen, Q2 2026: revenue $69.5M (+16% year over year), operating margin 17.9%, net earnings $3.6M, operating cash flow $3.9M. The chart follows the revenue to costs, profit and cash.
| MarketAxess Holdings (MKTX) | Cohen (COHN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $210M | $69.5M |
| Revenue growth, Y/Y | +0.8% | +16% |
| Operating margin | 35.4% | 17.9% |
| Net earnings | $54.0M | $3.6M |
| Net margin | 25.7% | 5.1% |
| Operating cash flow | $247M | $3.9M |
| Free cash flow | $85.7M | $3.7M |
| Market value | $5.8B | — |
| P/E | 18.9× | — |
| Analysts’ mean target | $162.22 | — |
Where the revenue comes from
MarketAxess Holdings
- Commission Revenue: $180M (86%)
- Information Services: $15.2M (7%)
- Post Trade Services: $11.4M (5%)
- Technology Services: $3.9M (2%)
Questions
Which is bigger, MarketAxess Holdings or Cohen?
MarketAxess Holdings is the larger company: $210M of revenue in its latest quarter (Q3 2026) against $69.5M for Cohen (Q2 2026).
Is MarketAxess Holdings or Cohen growing faster?
Cohen is growing faster (+16% against +0.8% a year earlier).
Which is more profitable, MarketAxess Holdings or Cohen?
MarketAxess Holdings is more profitable, with an operating margin of 35.4% against 17.9%.
More: MarketAxess Holdings earnings · how MarketAxess Holdings makes money · Cohen earnings · how Cohen makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Aug 3, 2026). Fiscal quarters can end on different dates. Not investment advice.