• MarketAxess Holdings average return on tangible equity for 2023 was 29.51, a 7.69% decline from 2022.
• MarketAxess Holdings average return on tangible equity for 2022 was 31.97, a 17.07% decline from 2021.
• MarketAxess Holdings average return on tangible equity for 2021 was 38.55, a 9.99% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.