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Side-by-side financial comparison of MarketAxess (MKTX) and ROGERS CORP (ROG). Click either name above to swap in a different company.
MarketAxess is the larger business by last-quarter revenue ($209.4M vs $200.5M, roughly 1.0× ROGERS CORP). MarketAxess runs the higher net margin — 44.0% vs 2.2%, a 41.8% gap on every dollar of revenue. On growth, ROGERS CORP posted the faster year-over-year revenue change (5.2% vs 3.5%). MarketAxess produced more free cash flow last quarter ($373.9M vs $1.1M). Over the past eight quarters, MarketAxess's revenue compounded faster (-0.2% CAGR vs -3.3%).
MarketAxess Holdings Inc. is an international financial technology company that operates an electronic trading platform for the institutional credit markets, and also provides market data and post-trade services. It enables institutional investors and broker-dealers to trade credit instruments, including corporate bonds, and other types of fixed income products.
Rogers Corporation is a specialty engineered materials company headquartered in Chandler, Arizona.
MKTX vs ROG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $209.4M | $200.5M |
| Net Profit | $92.2M | $4.5M |
| Gross Margin | — | 32.2% |
| Operating Margin | 36.3% | — |
| Net Margin | 44.0% | 2.2% |
| Revenue YoY | 3.5% | 5.2% |
| Net Profit YoY | 41.6% | 421.4% |
| EPS (diluted) | $2.49 | $0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $200.5M | ||
| Q4 25 | $209.4M | $201.5M | ||
| Q3 25 | $208.8M | $216.0M | ||
| Q2 25 | $219.5M | $202.8M | ||
| Q1 25 | $208.6M | $190.5M | ||
| Q4 24 | $202.4M | $192.2M | ||
| Q3 24 | $206.7M | $210.3M | ||
| Q2 24 | $197.7M | $214.2M |
| Q1 26 | — | $4.5M | ||
| Q4 25 | $92.2M | $4.6M | ||
| Q3 25 | $68.2M | $8.6M | ||
| Q2 25 | $71.1M | $-73.6M | ||
| Q1 25 | $15.1M | $-1.4M | ||
| Q4 24 | $65.1M | $-500.0K | ||
| Q3 24 | $71.5M | $10.7M | ||
| Q2 24 | $64.9M | $8.1M |
| Q1 26 | — | 32.2% | ||
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 33.5% | ||
| Q2 25 | — | 31.6% | ||
| Q1 25 | — | 29.9% | ||
| Q4 24 | — | 32.1% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 34.1% |
| Q1 26 | — | — | ||
| Q4 25 | 36.3% | 3.5% | ||
| Q3 25 | 41.0% | 7.3% | ||
| Q2 25 | 41.9% | -33.3% | ||
| Q1 25 | 42.4% | -0.2% | ||
| Q4 24 | 39.5% | -6.6% | ||
| Q3 24 | 42.1% | 6.9% | ||
| Q2 24 | 41.2% | 5.3% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 44.0% | 2.3% | ||
| Q3 25 | 32.6% | 4.0% | ||
| Q2 25 | 32.4% | -36.3% | ||
| Q1 25 | 7.2% | -0.7% | ||
| Q4 24 | 32.2% | -0.3% | ||
| Q3 24 | 34.6% | 5.1% | ||
| Q2 24 | 32.9% | 3.8% |
| Q1 26 | — | $0.25 | ||
| Q4 25 | $2.49 | $0.20 | ||
| Q3 25 | $1.84 | $0.48 | ||
| Q2 25 | $1.91 | $-4.00 | ||
| Q1 25 | $0.40 | $-0.08 | ||
| Q4 24 | $1.74 | $-0.04 | ||
| Q3 24 | $1.90 | $0.58 | ||
| Q2 24 | $1.72 | $0.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $519.7M | $195.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $1.2B |
| Total Assets | $1.9B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $195.8M | ||
| Q4 25 | $519.7M | $197.0M | ||
| Q3 25 | $473.3M | $167.8M | ||
| Q2 25 | $462.8M | $157.2M | ||
| Q1 25 | $486.2M | $175.6M | ||
| Q4 24 | $544.5M | $159.8M | ||
| Q3 24 | $446.3M | $146.4M | ||
| Q2 24 | $434.1M | $119.9M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.3B | $1.3B |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.9B | $1.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $382.1M | $5.8M |
| Free Cash FlowOCF − Capex | $373.9M | $1.1M |
| FCF MarginFCF / Revenue | 178.6% | 0.5% |
| Capex IntensityCapex / Revenue | 3.9% | 2.3% |
| Cash ConversionOCF / Net Profit | 4.14× | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $592.8M | $70.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.8M | ||
| Q4 25 | $382.1M | $46.9M | ||
| Q3 25 | $90.2M | $28.9M | ||
| Q2 25 | $103.7M | $13.7M | ||
| Q1 25 | $29.6M | $11.7M | ||
| Q4 24 | $385.2M | $33.7M | ||
| Q3 24 | $95.1M | $42.4M | ||
| Q2 24 | $118.8M | $22.9M |
| Q1 26 | — | $1.1M | ||
| Q4 25 | $373.9M | $42.2M | ||
| Q3 25 | $88.7M | $21.2M | ||
| Q2 25 | $102.5M | $5.6M | ||
| Q1 25 | $27.7M | $2.1M | ||
| Q4 24 | $375.3M | $18.3M | ||
| Q3 24 | $94.3M | $25.2M | ||
| Q2 24 | $111.2M | $8.8M |
| Q1 26 | — | 0.5% | ||
| Q4 25 | 178.6% | 20.9% | ||
| Q3 25 | 42.5% | 9.8% | ||
| Q2 25 | 46.7% | 2.8% | ||
| Q1 25 | 13.3% | 1.1% | ||
| Q4 24 | 185.4% | 9.5% | ||
| Q3 24 | 45.6% | 12.0% | ||
| Q2 24 | 56.2% | 4.1% |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 3.9% | 2.3% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 0.5% | 4.0% | ||
| Q1 25 | 0.9% | 5.0% | ||
| Q4 24 | 4.9% | 8.0% | ||
| Q3 24 | 0.4% | 8.2% | ||
| Q2 24 | 3.9% | 6.6% |
| Q1 26 | — | 1.29× | ||
| Q4 25 | 4.14× | 10.20× | ||
| Q3 25 | 1.32× | 3.36× | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.91× | — | ||
| Q3 24 | 1.33× | 3.96× | ||
| Q2 24 | 1.83× | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MKTX
| Commission Revenue | $181.3M | 87% |
| Information Services | $13.5M | 6% |
| Post Trade Services | $11.0M | 5% |
| Technology Services | $3.6M | 2% |
ROG
Segment breakdown not available.
