vs
MarketAxess（MKTX）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
MarketAxess的季度营收约是Ribbon Communications Inc.的1.3倍（$209.4M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 44.0%，领先10.7%），MarketAxess同比增速更快（3.5% vs -10.3%），过去两年MarketAxess的营收复合增速更高（-0.2% vs -8.1%）
MarketAxess Holdings Inc.是一家国际金融科技企业，运营面向机构信贷市场的电子交易平台，同时提供市场数据及交易后服务，支持机构投资者、经纪自营商开展企业债券等各类固定收益类信用工具的交易。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
MKTX vs RBBN — 直观对比
营收规模更大
MKTX
是对方的1.3倍
$162.6M
营收增速更快
MKTX
高出13.8%
-10.3%
净利率更高
RBBN
高出10.7%
44.0%
两年增速更快
MKTX
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $209.4M | $162.6M |
| 净利润 | $92.2M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | 36.3% | 37.6% |
| 净利率 | 44.0% | 54.8% |
| 营收同比 | 3.5% | -10.3% |
| 净利润同比 | 41.6% | — |
| 每股收益（稀释后） | $2.49 | $0.50 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MKTXRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $209.4M | $227.3M | ||
| Q3 25 | $208.8M | $215.4M | ||
| Q2 25 | $219.5M | $220.6M | ||
| Q1 25 | $208.6M | $181.3M | ||
| Q4 24 | $202.4M | $251.4M | ||
| Q3 24 | $206.7M | $210.2M | ||
| Q2 24 | $197.7M | $192.6M |
净利润MKTXRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $92.2M | — | ||
| Q3 25 | $68.2M | $-12.1M | ||
| Q2 25 | $71.1M | $-11.1M | ||
| Q1 25 | $15.1M | $-26.2M | ||
| Q4 24 | $65.1M | — | ||
| Q3 24 | $71.5M | $-13.4M | ||
| Q2 24 | $64.9M | $-16.8M |
毛利率MKTXRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率MKTXRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | 36.3% | 4.1% | ||
| Q3 25 | 41.0% | 1.3% | ||
| Q2 25 | 41.9% | 1.9% | ||
| Q1 25 | 42.4% | -10.8% | ||
| Q4 24 | 39.5% | 13.2% | ||
| Q3 24 | 42.1% | -0.4% | ||
| Q2 24 | 41.2% | -1.0% |
净利率MKTXRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 32.6% | -5.6% | ||
| Q2 25 | 32.4% | -5.0% | ||
| Q1 25 | 7.2% | -14.5% | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 34.6% | -6.4% | ||
| Q2 24 | 32.9% | -8.7% |
每股收益（稀释后）MKTXRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $2.49 | $0.50 | ||
| Q3 25 | $1.84 | $-0.07 | ||
| Q2 25 | $1.91 | $-0.06 | ||
| Q1 25 | $0.40 | $-0.15 | ||
| Q4 24 | $1.74 | $0.05 | ||
| Q3 24 | $1.90 | $-0.08 | ||
| Q2 24 | $1.72 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $519.7M | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $419.1M |
| 总资产 | $1.9B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MKTXRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $519.7M | $96.4M | ||
| Q3 25 | $473.3M | $74.8M | ||
| Q2 25 | $462.8M | $60.5M | ||
| Q1 25 | $486.2M | $71.2M | ||
| Q4 24 | $544.5M | $87.8M | ||
| Q3 24 | $446.3M | $37.2M | ||
| Q2 24 | $434.1M | $64.6M |
总债务MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益MKTXRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $1.1B | $449.0M | ||
| Q3 25 | $1.4B | $360.1M | ||
| Q2 25 | $1.4B | $370.4M | ||
| Q1 25 | $1.3B | $381.8M | ||
| Q4 24 | $1.4B | $404.6M | ||
| Q3 24 | $1.4B | $395.5M | ||
| Q2 24 | $1.3B | $405.0M |
总资产MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B |
负债/权益比MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $382.1M | — |
| 自由现金流经营现金流 - 资本支出 | $373.9M | — |
| 自由现金流率自由现金流/营收 | 178.6% | — |
| 资本支出强度资本支出/营收 | 3.9% | — |
| 现金转化率经营现金流/净利润 | 4.14× | — |
| 过去12个月自由现金流最近4个季度 | $592.8M | — |
8季度趋势，按日历期对齐
经营现金流MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $382.1M | $29.2M | ||
| Q3 25 | $90.2M | $26.5M | ||
| Q2 25 | $103.7M | $-795.0K | ||
| Q1 25 | $29.6M | $-3.5M | ||
| Q4 24 | $385.2M | $61.8M | ||
| Q3 24 | $95.1M | $-14.8M | ||
| Q2 24 | $118.8M | $-9.8M |
自由现金流MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $373.9M | $27.3M | ||
| Q3 25 | $88.7M | $21.0M | ||
| Q2 25 | $102.5M | $-6.5M | ||
| Q1 25 | $27.7M | $-15.7M | ||
| Q4 24 | $375.3M | $53.8M | ||
| Q3 24 | $94.3M | $-23.7M | ||
| Q2 24 | $111.2M | $-12.9M |
自由现金流率MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | 178.6% | 12.0% | ||
| Q3 25 | 42.5% | 9.7% | ||
| Q2 25 | 46.7% | -2.9% | ||
| Q1 25 | 13.3% | -8.7% | ||
| Q4 24 | 185.4% | 21.4% | ||
| Q3 24 | 45.6% | -11.3% | ||
| Q2 24 | 56.2% | -6.7% |
资本支出强度MKTXRBBN
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.9% | ||
| Q3 25 | 0.7% | 2.6% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | 0.9% | 6.7% | ||
| Q4 24 | 4.9% | 3.2% | ||
| Q3 24 | 0.4% | 4.2% | ||
| Q2 24 | 3.9% | 1.6% |
现金转化率MKTXRBBN
| Q1 26 | — | — | ||
| 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× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MKTX
| Commission Revenue | $181.3M | 87% |
| Information Services | $13.5M | 6% |
| Post Trade Services | $11.0M | 5% |
| Technology Services | $3.6M | 2% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
