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MarketAxess Holdings vs WisdomTree: MKTX and WT compared
MarketAxess Holdings is the larger company: $210M of revenue in its latest quarter (Q3 2026) against $179M for WisdomTree (Q3 2026). WisdomTree is growing faster (+43% against +0.8% a year earlier). WisdomTree is more profitable, with an operating margin of 41.3% against 35.4%.
Where the money goes: MKTX and WT
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.
WisdomTree (WT) · Q3 2026
WisdomTree, Q3 2026: revenue $179M (+43% year over year), operating margin 41.3%, net earnings $49.2M, operating cash flow $59.7M. The chart follows the revenue to costs, profit and cash.
| MarketAxess Holdings (MKTX) | WisdomTree (WT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $210M | $179M |
| Revenue growth, Y/Y | +0.8% | +43% |
| Operating margin | 35.4% | 41.3% |
| Net earnings | $54.0M | $49.2M |
| Net margin | 25.7% | 27.4% |
| Operating cash flow | $247M | $59.7M |
| Free cash flow | $85.7M | $59.6M |
| 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%)
WisdomTree
- Advisory fees: $152M (85%)
- Other revenues: $18.5M (10%)
- Management fees: $5.4M (3%)
- Performance fees: $3.8M (2%)
Questions
Which is bigger, MarketAxess Holdings or WisdomTree?
MarketAxess Holdings is the larger company: $210M of revenue in its latest quarter (Q3 2026) against $179M for WisdomTree (Q3 2026).
Is MarketAxess Holdings or WisdomTree growing faster?
WisdomTree is growing faster (+43% against +0.8% a year earlier).
Which is more profitable, MarketAxess Holdings or WisdomTree?
WisdomTree is more profitable, with an operating margin of 41.3% against 35.4%.
More: MarketAxess Holdings earnings · how MarketAxess Holdings makes money · WisdomTree earnings · how WisdomTree makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.