For the year ending 2025-12-31, MKTX had -$24,608K decrease in cash & cash equivalents over the period. $373,935K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Foreign currency transaction gains | - | - | - | 8,783 |
| Net income | 246,912 | - | - | - |
| Depreciation and amortization | 76,699 | 73,824 | 70,557 | 61,446 |
| Amortization of operating lease right-of-use assets | 7,523 | 6,639 | 5,853 | 5,708 |
| Net income | - | 274,181 | 258,055 | 250,224 |
| Stock-based compensation expense | 30,918 | 29,684 | 29,190 | 29,864 |
| Deferred taxes | 22,019 | -3,878 | -5,815 | -6,547 |
| Foreign currency transaction losses | -3,582 | -1,276 | -4,718 | - |
| Other | 1,620 | -7,042 | 3,113 | -555 |
| (increase) in accounts receivable | 2,380 | 3,730 | 7,116 | 15,136 |
| (increase)/decrease in receivables from broker-dealers, clearing organizations and customers | 123,038 | -320,091 | 181,044 | 47,631 |
| Decrease in prepaid expenses and other assets | -819 | -1,009 | 11,898 | 4,249 |
| (increase)/decrease in trading investments-Trading Investments | -206 | 629 | 25,248 | 49,527 |
| (increase)/decrease in trading investments-Mutual Funds Held In Rabbi Trust | 359 | 621 | 1,103 | -1,813 |
| (decrease) in accrued employee compensation | 3,195 | 7,049 | 1,466 | -3,417 |
| Increase/(decrease) in payables to broker-dealers, clearing organizations and customers | 99,172 | -318,229 | 227,920 | 74,668 |
| Increase/(decrease) in income and other tax liabilities | 23,510 | -3,284 | -14,691 | -4,768 |
| Increase in accounts payable, accrued expenses and other liabilities | 4,000 | 3,543 | -7,229 | 11,384 |
| (decrease) in operating lease liabilities | -9,019 | -8,730 | -6,735 | -6,373 |
| Net cash provided by operating activities | 382,139 | 385,237 | 333,767 | 289,231 |
| Acquisition of equity method investment | - | 0 | 0 | 34,400 |
| Proceeds from maturities and sales | 10,570 | 12,440 | 4,452 | 0 |
| Purchases | 12,968 | 42,810 | 28,818 | 0 |
| Acquisition, net of cash acquired | 36,515 | - | - | - |
| Purchases of furniture, equipment and leasehold improvements | 8,204 | 9,942 | 9,326 | 13,142 |
| Acquisitions, net of cash and cash equivalents acquired | - | 0 | 78,476 | 0 |
| Capitalization of software development costs | 49,810 | 46,623 | 43,122 | 38,730 |
| Net cash (used in) investing activities | -96,927 | -86,935 | -155,290 | -86,272 |
| Repayments of short-term borrowings | - | - | 123,995 | 100,000 |
| Cash dividends on common stock | 115,199 | 112,697 | 109,658 | 105,942 |
| Exercise of stock options | 0 | 2,988 | 940 | 672 |
| Withholding tax payments on full value awards vesting and stock option exercises | 17,155 | 16,194 | 25,839 | 23,404 |
| Repurchases of common stock | 420,015 | 75,474 | 0 | 87,540 |
| Payment of contingent consideration | 0 | 0 | 12,500 | 26,164 |
| Proceeds from short-term borrowings | 220,000 | 344,925 | 123,995 | 100,000 |
| Repayments of short-term borrowings | 0 | 344,925 | - | - |
| Net cash (used in) financing activities | -332,369 | -201,377 | -147,057 | -242,378 |
| Effect of exchange rate changes on cash and cash equivalents | 22,549 | -8,138 | 7,588 | -13,484 |
| Net increase/(decrease) for the period | -24,608 | 88,787 | 39,008 | -52,903 |
| Beginning of period | 700,459 | - | - | - |
| End of period | 675,851 | - | - | - |
MARKETAXESS HOLDINGS INC (MKTX)
MARKETAXESS HOLDINGS INC (MKTX)