Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
VIRTthis companyVirtu Financial, Inc.	$54.74	6.48×	1.79×	0.78×	7.99×	827.6%	48.0%	33.8%	12.9%	29.6%	5.6%	16.0%	5.67×	5.88×	8.81×	1.69×	12.3%	5	0.65	4	A-
BGCBGC Group, Inc	$10.89	27.06×	4.37×	1.41×	11.7×	-88.7%	89.5%	10.5%	5.2%	15.9%	4.9%	6.3%	1.85×	2.08×	2.52×	89.14×	0.9%	8	2.11	3	B+
MKTXMarketAxess Holdings Inc.	$165.52	27.21×	5.82×	7.86×	14.22×	-7.8%	69.9%	41.2%	29.0%	21.5%	16.3%	5.6%	0.25×	-0.52×	235.35×	1.84×	1.7%	5	5.88	4	A-
MSCIMSCI Inc.	$642.74	36.82×	-16.68×	14.12×	25.93×	-52.8%	82.4%	54.7%	38.4%	-45.3%	35.3%	3.5%	-2.39×	3.01×	8.16×	0.9×	1.3%	6	6.42	2	C
NDAQNasdaq, Inc.	$108.04	31.03×	4.53×	6.75×	20.65×	-49.7%	47.9%	28.4%	21.8%	14.6%	8.3%	3.6%	0.81×	2.92×	26.49×	1.01×	1.1%	9	3.56	3	B
TWTradeweb Markets Inc.	$126.66	28.23×	3.52×	11.17×	14.8×	7.0%	67.3%	41.2%	39.6%	12.5%	9.3%	4.9%	0.04×	-1.27×	435.41×	4.94×	0.4%	9	16.04	4	A-
Peer median	—	28.23×	4.37×	7.86×	14.8×	-49.7%	69.9%	41.2%	29.0%	14.6%	9.3%	4.9%	0.25×	2.08×	26.49×	1.84×	1.1%	8	5.88	3	—