vs
MarketAxess（MKTX）与REPLIGEN CORP（RGEN）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REPLIGEN CORP的1.1倍（$209.4M vs $197.9M），MarketAxess净利率更高（44.0% vs 6.7%，领先37.3%），REPLIGEN CORP同比增速更快（13.6% vs 3.5%），MarketAxess自由现金流更多（$373.9M vs $17.6M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs -0.2%）
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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
MKTX vs RGEN — 直观对比
营收规模更大
MKTX
是对方的1.1倍
$197.9M
营收增速更快
RGEN
高出10.2%
3.5%
净利率更高
MKTX
高出37.3%
6.7%
自由现金流更多
MKTX
多$356.4M
$17.6M
两年增速更快
RGEN
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $209.4M | $197.9M |
| 净利润 | $92.2M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | 36.3% | 9.0% |
| 净利率 | 44.0% | 6.7% |
| 营收同比 | 3.5% | 13.6% |
| 净利润同比 | 41.6% | 143.9% |
| 每股收益（稀释后） | $2.49 | $0.24 |
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MKTXRGEN
| Q4 25 | $209.4M | $197.9M | ||
| Q3 25 | $208.8M | $188.8M | ||
| Q2 25 | $219.5M | $182.4M | ||
| Q1 25 | $208.6M | $169.2M | ||
| Q4 24 | $202.4M | $174.1M | ||
| Q3 24 | $206.7M | $154.9M | ||
| Q2 24 | $197.7M | $154.1M | ||
| Q1 24 | $210.3M | $151.3M |
净利润MKTXRGEN
| Q4 25 | $92.2M | $13.3M | ||
| Q3 25 | $68.2M | $14.9M | ||
| Q2 25 | $71.1M | $14.9M | ||
| Q1 25 | $15.1M | $5.8M | ||
| Q4 24 | $65.1M | $-30.3M | ||
| Q3 24 | $71.5M | $-654.0K | ||
| Q2 24 | $64.9M | $3.3M | ||
| Q1 24 | $72.6M | $2.1M |
毛利率MKTXRGEN
| Q4 25 | — | 52.5% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 53.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 49.8% | ||
| Q1 24 | — | 49.5% |
营业利润率MKTXRGEN
| Q4 25 | 36.3% | 9.0% | ||
| Q3 25 | 41.0% | 8.9% | ||
| Q2 25 | 41.9% | 7.6% | ||
| Q1 25 | 42.4% | 3.9% | ||
| Q4 24 | 39.5% | -17.7% | ||
| Q3 24 | 42.1% | -5.1% | ||
| Q2 24 | 41.2% | 1.0% | ||
| Q1 24 | 44.0% | 1.3% |
净利率MKTXRGEN
| Q4 25 | 44.0% | 6.7% | ||
| Q3 25 | 32.6% | 7.9% | ||
| Q2 25 | 32.4% | 8.2% | ||
| Q1 25 | 7.2% | 3.4% | ||
| Q4 24 | 32.2% | -17.4% | ||
| Q3 24 | 34.6% | -0.4% | ||
| Q2 24 | 32.9% | 2.2% | ||
| Q1 24 | 34.5% | 1.4% |
每股收益（稀释后）MKTXRGEN
| Q4 25 | $2.49 | $0.24 | ||
| Q3 25 | $1.84 | $0.26 | ||
| Q2 25 | $1.91 | $0.26 | ||
| Q1 25 | $0.40 | $0.10 | ||
| Q4 24 | $1.74 | $-0.55 | ||
| Q3 24 | $1.90 | $-0.01 | ||
| Q2 24 | $1.72 | $0.06 | ||
| Q1 24 | $1.92 | $0.04 |
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 | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $1.1B | $2.1B |
| 总资产 | $1.9B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资MKTXRGEN
| Q4 25 | $519.7M | $767.6M | ||
| Q3 25 | $473.3M | $748.7M | ||
| Q2 25 | $462.8M | $708.9M | ||
| Q1 25 | $486.2M | $697.2M | ||
| Q4 24 | $544.5M | $757.4M | ||
| Q3 24 | $446.3M | $784.0M | ||
| Q2 24 | $434.1M | $809.1M | ||
| Q1 24 | $376.7M | $780.6M |
总债务MKTXRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MKTXRGEN
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.3B | $2.0B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.4B | $2.0B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | $1.3B | $2.0B |
总资产MKTXRGEN
| Q4 25 | $1.9B | $2.9B | ||
| Q3 25 | $2.0B | $2.9B | ||
| Q2 25 | $2.0B | $2.9B | ||
| Q1 25 | $1.9B | $2.9B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.9B | $2.9B | ||
| Q1 24 | $1.9B | $2.8B |
负债/权益比MKTXRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $373.9M | $17.6M |
| 自由现金流率自由现金流/营收 | 178.6% | 8.9% |
| 资本支出强度资本支出/营收 | 3.9% | 4.1% |
| 现金转化率经营现金流/净利润 | 4.14× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $592.8M | $93.9M |
8季度趋势，按日历期对齐
经营现金流MKTXRGEN
| Q4 25 | $382.1M | $25.7M | ||
| Q3 25 | $90.2M | $48.1M | ||
| Q2 25 | $103.7M | $28.6M | ||
| Q1 25 | $29.6M | $15.0M | ||
| Q4 24 | $385.2M | $39.2M | ||
| Q3 24 | $95.1M | $49.3M | ||
| Q2 24 | $118.8M | $42.2M | ||
| Q1 24 | $-4.9M | $44.7M |
自由现金流MKTXRGEN
| Q4 25 | $373.9M | $17.6M | ||
| Q3 25 | $88.7M | $43.4M | ||
| Q2 25 | $102.5M | $21.5M | ||
| Q1 25 | $27.7M | $11.4M | ||
| Q4 24 | $375.3M | $33.6M | ||
| Q3 24 | $94.3M | $42.3M | ||
| Q2 24 | $111.2M | $37.4M | ||
| Q1 24 | $-6.1M | $36.4M |
自由现金流率MKTXRGEN
| Q4 25 | 178.6% | 8.9% | ||
| Q3 25 | 42.5% | 23.0% | ||
| Q2 25 | 46.7% | 11.8% | ||
| Q1 25 | 13.3% | 6.8% | ||
| Q4 24 | 185.4% | 19.3% | ||
| Q3 24 | 45.6% | 27.3% | ||
| Q2 24 | 56.2% | 24.3% | ||
| Q1 24 | -2.9% | 24.0% |
资本支出强度MKTXRGEN
| Q4 25 | 3.9% | 4.1% | ||
| Q3 25 | 0.7% | 2.5% | ||
| Q2 25 | 0.5% | 3.9% | ||
| Q1 25 | 0.9% | 2.1% | ||
| Q4 24 | 4.9% | 3.2% | ||
| Q3 24 | 0.4% | 4.5% | ||
| Q2 24 | 3.9% | 3.1% | ||
| Q1 24 | 0.6% | 5.5% |
现金转化率MKTXRGEN
| Q4 25 | 4.14× | 1.93× | ||
| Q3 25 | 1.32× | 3.23× | ||
| Q2 25 | 1.46× | 1.92× | ||
| Q1 25 | 1.97× | 2.57× | ||
| Q4 24 | 5.91× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.83× | 12.70× | ||
| Q1 24 | -0.07× | 21.35× |
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% |
RGEN
暂无分部数据
