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Side-by-side financial comparison of MarketAxess (MKTX) and Westrock Coffee Co (WEST). Click either name above to swap in a different company.
Westrock Coffee Co is the larger business by last-quarter revenue ($339.5M vs $209.4M, roughly 1.6× MarketAxess). MarketAxess runs the higher net margin — 44.0% vs -6.6%, a 50.7% gap on every dollar of revenue. On growth, Westrock Coffee Co posted the faster year-over-year revenue change (48.3% vs 3.5%). MarketAxess produced more free cash flow last quarter ($373.9M vs $27.8M). Over the past eight quarters, Westrock Coffee Co's revenue compounded faster (32.8% 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.
Westrock Coffee Co is a global integrated coffee, tea and functional beverage solutions provider. It sources, roasts, manufactures and distributes coffee products, ready-to-drink beverages and custom formulations for retail, foodservice and commercial clients across North America and other key markets.
MKTX vs WEST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $209.4M | $339.5M |
| Net Profit | $92.2M | $-22.6M |
| Gross Margin | — | 11.5% |
| Operating Margin | 36.3% | -2.6% |
| Net Margin | 44.0% | -6.6% |
| Revenue YoY | 3.5% | 48.3% |
| Net Profit YoY | 41.6% | 8.3% |
| EPS (diluted) | $2.49 | $-0.22 |
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 | $339.5M | ||
| Q3 25 | $208.8M | $354.8M | ||
| Q2 25 | $219.5M | $280.9M | ||
| Q1 25 | $208.6M | $213.8M | ||
| Q4 24 | $202.4M | $229.0M | ||
| Q3 24 | $206.7M | $220.9M | ||
| Q2 24 | $197.7M | $208.4M | ||
| Q1 24 | $210.3M | $192.5M |
| Q4 25 | $92.2M | $-22.6M | ||
| Q3 25 | $68.2M | $-19.1M | ||
| Q2 25 | $71.1M | $-21.6M | ||
| Q1 25 | $15.1M | $-27.2M | ||
| Q4 24 | $65.1M | $-24.6M | ||
| Q3 24 | $71.5M | $-14.3M | ||
| Q2 24 | $64.9M | $-17.8M | ||
| Q1 24 | $72.6M | $-23.7M |
| Q4 25 | — | 11.5% | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 14.7% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 19.9% | ||
| Q1 24 | — | 19.4% |
| Q4 25 | 36.3% | -2.6% | ||
| Q3 25 | 41.0% | -2.4% | ||
| Q2 25 | 41.9% | -5.3% | ||
| Q1 25 | 42.4% | -6.1% | ||
| Q4 24 | 39.5% | -4.3% | ||
| Q3 24 | 42.1% | -5.8% | ||
| Q2 24 | 41.2% | -7.9% | ||
| Q1 24 | 44.0% | -5.3% |
| Q4 25 | 44.0% | -6.6% | ||
| Q3 25 | 32.6% | -5.4% | ||
| Q2 25 | 32.4% | -7.7% | ||
| Q1 25 | 7.2% | -12.7% | ||
| Q4 24 | 32.2% | -10.7% | ||
| Q3 24 | 34.6% | -6.5% | ||
| Q2 24 | 32.9% | -8.5% | ||
| Q1 24 | 34.5% | -12.3% |
| Q4 25 | $2.49 | $-0.22 | ||
| Q3 25 | $1.84 | $-0.20 | ||
| Q2 25 | $1.91 | $-0.23 | ||
| Q1 25 | $0.40 | $-0.29 | ||
| Q4 24 | $1.74 | $-0.26 | ||
| Q3 24 | $1.90 | $-0.16 | ||
| Q2 24 | $1.72 | $-0.20 | ||
| Q1 24 | $1.92 | $-0.27 |
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 | $49.9M |
| Total DebtLower is stronger | — | $444.1M |
| Stockholders' EquityBook value | $1.1B | $-1.9M |
| Total Assets | $1.9B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $519.7M | $49.9M | ||
| Q3 25 | $473.3M | $34.0M | ||
| Q2 25 | $462.8M | $44.0M | ||
| Q1 25 | $486.2M | $33.1M | ||
| Q4 24 | $544.5M | $26.2M | ||
| Q3 24 | $446.3M | $22.4M | ||
| Q2 24 | $434.1M | $24.3M | ||
| Q1 24 | $376.7M | $12.6M |
| Q4 25 | — | $444.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $393.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.1B | $-1.9M | ||
| Q3 25 | $1.4B | $11.4M | ||
| Q2 25 | $1.4B | $18.2M | ||
| Q1 25 | $1.3B | $71.4M | ||
| Q4 24 | $1.4B | $97.5M | ||
| Q3 24 | $1.4B | $110.3M | ||
| Q2 24 | $1.3B | $81.5M | ||
| Q1 24 | $1.3B | $91.7M |
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.9B | $983.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $36.7M |
| Free Cash FlowOCF − Capex | $373.9M | $27.8M |
| FCF MarginFCF / Revenue | 178.6% | 8.2% |
| Capex IntensityCapex / Revenue | 3.9% | 2.6% |
| Cash ConversionOCF / Net Profit | 4.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $592.8M | $-107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $382.1M | $36.7M | ||
| Q3 25 | $90.2M | $-26.6M | ||
| Q2 25 | $103.7M | $-7.0M | ||
| Q1 25 | $29.6M | $-22.1M | ||
| Q4 24 | $385.2M | $2.8M | ||
| Q3 24 | $95.1M | $-332.0K | ||
| Q2 24 | $118.8M | $-23.7M | ||
| Q1 24 | $-4.9M | $8.0M |
| Q4 25 | $373.9M | $27.8M | ||
| Q3 25 | $88.7M | $-44.7M | ||
| Q2 25 | $102.5M | $-27.5M | ||
| Q1 25 | $27.7M | $-63.4M | ||
| Q4 24 | $375.3M | $-15.4M | ||
| Q3 24 | $94.3M | $-36.7M | ||
| Q2 24 | $111.2M | $-59.9M | ||
| Q1 24 | $-6.1M | $-60.9M |
| Q4 25 | 178.6% | 8.2% | ||
| Q3 25 | 42.5% | -12.6% | ||
| Q2 25 | 46.7% | -9.8% | ||
| Q1 25 | 13.3% | -29.7% | ||
| Q4 24 | 185.4% | -6.7% | ||
| Q3 24 | 45.6% | -16.6% | ||
| Q2 24 | 56.2% | -28.7% | ||
| Q1 24 | -2.9% | -31.7% |
| Q4 25 | 3.9% | 2.6% | ||
| Q3 25 | 0.7% | 5.1% | ||
| Q2 25 | 0.5% | 7.3% | ||
| Q1 25 | 0.9% | 19.3% | ||
| Q4 24 | 4.9% | 7.9% | ||
| Q3 24 | 0.4% | 16.5% | ||
| Q2 24 | 3.9% | 17.4% | ||
| Q1 24 | 0.6% | 35.8% |
| Q4 25 | 4.14× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.91× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.83× | — | ||
| Q1 24 | -0.07× | — |
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% |
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
