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Side-by-side financial comparison of MarketAxess (MKTX) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $209.4M, roughly 1.8× MarketAxess). MarketAxess runs the higher net margin — 44.0% vs 4.9%, a 39.2% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 3.5%). MarketAxess produced more free cash flow last quarter ($373.9M vs $47.8M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% CAGR vs -0.2%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
MKTX vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $209.4M | $377.3M |
| Net Profit | $92.2M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | 36.3% | 8.5% |
| Net Margin | 44.0% | 4.9% |
| Revenue YoY | 3.5% | 6.7% |
| Net Profit YoY | 41.6% | -42.1% |
| EPS (diluted) | $2.49 | $0.61 |
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.
| Q4 25 | $209.4M | $377.3M | ||
| Q3 25 | $208.8M | $386.3M | ||
| Q2 25 | $219.5M | $376.4M | ||
| Q1 25 | $208.6M | $350.5M | ||
| Q4 24 | $202.4M | $353.5M | ||
| Q3 24 | $206.7M | $365.1M | ||
| Q2 24 | $197.7M | $359.7M | ||
| Q1 24 | $210.3M | $337.1M |
| Q4 25 | $92.2M | $18.4M | ||
| Q3 25 | $68.2M | $51.5M | ||
| Q2 25 | $71.1M | $31.7M | ||
| Q1 25 | $15.1M | $27.4M | ||
| Q4 24 | $65.1M | $31.8M | ||
| Q3 24 | $71.5M | $28.2M | ||
| Q2 24 | $64.9M | $28.2M | ||
| Q1 24 | $72.6M | $6.6M |
| Q4 25 | 36.3% | 8.5% | ||
| Q3 25 | 41.0% | 13.1% | ||
| Q2 25 | 41.9% | 11.3% | ||
| Q1 25 | 42.4% | 9.6% | ||
| Q4 24 | 39.5% | 9.0% | ||
| Q3 24 | 42.1% | 9.1% | ||
| Q2 24 | 41.2% | 12.4% | ||
| Q1 24 | 44.0% | 6.8% |
| Q4 25 | 44.0% | 4.9% | ||
| Q3 25 | 32.6% | 13.3% | ||
| Q2 25 | 32.4% | 8.4% | ||
| Q1 25 | 7.2% | 7.8% | ||
| Q4 24 | 32.2% | 9.0% | ||
| Q3 24 | 34.6% | 7.7% | ||
| Q2 24 | 32.9% | 7.8% | ||
| Q1 24 | 34.5% | 2.0% |
| Q4 25 | $2.49 | $0.61 | ||
| Q3 25 | $1.84 | $1.72 | ||
| Q2 25 | $1.91 | $1.07 | ||
| Q1 25 | $0.40 | $0.92 | ||
| Q4 24 | $1.74 | $1.07 | ||
| Q3 24 | $1.90 | $0.95 | ||
| Q2 24 | $1.72 | $0.96 | ||
| Q1 24 | $1.92 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $1.1B | $1.1B |
| Total Assets | $1.9B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $519.7M | $286.2M | ||
| Q3 25 | $473.3M | $245.5M | ||
| Q2 25 | $462.8M | $251.8M | ||
| Q1 25 | $486.2M | $191.1M | ||
| Q4 24 | $544.5M | $247.5M | ||
| Q3 24 | $446.3M | $200.3M | ||
| Q2 24 | $434.1M | $178.6M | ||
| Q1 24 | $376.7M | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.4B | $1.0B | ||
| Q2 25 | $1.4B | $984.4M | ||
| Q1 25 | $1.3B | $931.7M | ||
| Q4 24 | $1.4B | $891.7M | ||
| Q3 24 | $1.4B | $899.2M | ||
| Q2 24 | $1.3B | $849.1M | ||
| Q1 24 | $1.3B | $820.7M |
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $2.0B | $2.3B | ||
| Q2 25 | $2.0B | $2.3B | ||
| Q1 25 | $1.9B | $2.2B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.9B | $2.0B | ||
| Q1 24 | $1.9B | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $373.9M | $47.8M |
| FCF MarginFCF / Revenue | 178.6% | 12.7% |
| Capex IntensityCapex / Revenue | 3.9% | 7.7% |
| Cash ConversionOCF / Net Profit | 4.14× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $592.8M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $382.1M | $76.9M | ||
| Q3 25 | $90.2M | $23.1M | ||
| Q2 25 | $103.7M | $99.0M | ||
| Q1 25 | $29.6M | $-603.0K | ||
| Q4 24 | $385.2M | $51.1M | ||
| Q3 24 | $95.1M | $66.0M | ||
| Q2 24 | $118.8M | $33.7M | ||
| Q1 24 | $-4.9M | $26.7M |
| Q4 25 | $373.9M | $47.8M | ||
| Q3 25 | $88.7M | $-6.2M | ||
| Q2 25 | $102.5M | $67.4M | ||
| Q1 25 | $27.7M | $-52.7M | ||
| Q4 24 | $375.3M | $-32.4M | ||
| Q3 24 | $94.3M | $9.0M | ||
| Q2 24 | $111.2M | $-16.7M | ||
| Q1 24 | $-6.1M | $-37.9M |
| Q4 25 | 178.6% | 12.7% | ||
| Q3 25 | 42.5% | -1.6% | ||
| Q2 25 | 46.7% | 17.9% | ||
| Q1 25 | 13.3% | -15.0% | ||
| Q4 24 | 185.4% | -9.2% | ||
| Q3 24 | 45.6% | 2.5% | ||
| Q2 24 | 56.2% | -4.6% | ||
| Q1 24 | -2.9% | -11.2% |
| Q4 25 | 3.9% | 7.7% | ||
| Q3 25 | 0.7% | 7.6% | ||
| Q2 25 | 0.5% | 8.4% | ||
| Q1 25 | 0.9% | 14.9% | ||
| Q4 24 | 4.9% | 23.6% | ||
| Q3 24 | 0.4% | 15.6% | ||
| Q2 24 | 3.9% | 14.0% | ||
| Q1 24 | 0.6% | 19.2% |
| Q4 25 | 4.14× | 4.17× | ||
| Q3 25 | 1.32× | 0.45× | ||
| Q2 25 | 1.46× | 3.12× | ||
| Q1 25 | 1.97× | -0.02× | ||
| Q4 24 | 5.91× | 1.61× | ||
| Q3 24 | 1.33× | 2.34× | ||
| Q2 24 | 1.83× | 1.20× | ||
| Q1 24 | -0.07× | 4.04× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
