Marketaxess Holdings (MKTX) Stock Price

Marketaxess Holdings Price

🇺🇸NASDAQ·CLOSED
116.69USD
Market closed
Today +/-
Today %

Marketaxess Holdings (MKTX) Stock | ISIN US57060D1081 | WKN A0B897. The current Marketaxess Holdings stock price is 116.69 USD (2026). Revenue is 931.4 M USD. Net income is 310.52 M USD. The P/E ratio is 13.96. Market capitalization is 4.34 B USD. Marketaxess Holdings operates in the Finance sector.

Marketaxess Holdings stock price

Ex-Dividend
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of Marketaxess Holdings over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Marketaxess Holdings stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Marketaxess Holdings's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Marketaxess Holdings Stock Price History
DateMarketaxess Holdings Price
Access this data via the Eulerpool API

Marketaxess Holdings Revenue, EBIT, Net Income

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  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2006
83.3 M USD
8.6 M USD
5.4 M USD
Jan 1, 2007
93.6 M USD
17.3 M USD
10.3 M USD
Jan 1, 2008
93.1 M USD
12.8 M USD
7.4 M USD
Jan 1, 2009
114.4 M USD
30 M USD
14.6 M USD
Jan 1, 2010
146.2 M USD
50.9 M USD
28.4 M USD
Jan 1, 2011
171.9 M USD
81.5 M USD
47.7 M USD
Jan 1, 2012
190.8 M USD
89.4 M USD
60.1 M USD
Jan 1, 2013
238.7 M USD
107.3 M USD
76 M USD
Jan 1, 2014
262.8 M USD
118.5 M USD
74.8 M USD
Jan 1, 2015
303.1 M USD
147.9 M USD
96 M USD
Jan 1, 2016
369.9 M USD
191.6 M USD
126.2 M USD
Jan 1, 2017
393.4 M USD
199.6 M USD
148.1 M USD
Jan 1, 2018
435.6 M USD
212.6 M USD
172.9 M USD
Jan 1, 2019
511.4 M USD
250.9 M USD
204.9 M USD
Jan 1, 2020
689.1 M USD
374.7 M USD
299.4 M USD

Marketaxess Holdings Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jun 10, 2026, 8:37 PM
 
REVENUE (M USD)
REVENUE GROWTH (%)
GROSS MARGIN (%)
GROSS INCOME (M USD)
NET INCOME (M USD)
NET INCOME GROWTH (%)
DIV. (USD)
DIV. GROWTH (%)
SHARES (M)
DOCUMENTS
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Marketaxess Holdings generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Marketaxess Holdings retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Marketaxess Holdings's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Marketaxess Holdings has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Marketaxess Holdings's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Marketaxess Holdings stock margins

The Marketaxess Holdings margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Marketaxess Holdings. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Marketaxess Holdings.
  • 3 Years

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  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2006
81.03 %
10.32 %
6.48 %
Jan 1, 2007
83.87 %
18.48 %
11 %
Jan 1, 2008
82.28 %
13.75 %
7.95 %
Jan 1, 2009
86.63 %
26.22 %
12.76 %
Jan 1, 2010
87.35 %
34.82 %
19.43 %
Jan 1, 2011
88.54 %
47.41 %
27.75 %
Jan 1, 2012
87.11 %
46.86 %
31.5 %
Jan 1, 2013
85.67 %
44.95 %
31.84 %
Jan 1, 2014
87.79 %
45.09 %
28.46 %
Jan 1, 2015
90.43 %
48.8 %
31.67 %
Jan 1, 2016
90.7 %
51.8 %
34.12 %
Jan 1, 2017
94.92 %
50.74 %
37.65 %
Jan 1, 2018
94.51 %
48.81 %
39.69 %
Jan 1, 2019
94.76 %
49.06 %
40.07 %
Jan 1, 2020
95.05 %
54.38 %
43.45 %

Marketaxess Holdings Stock Revenue, EBIT, Earnings per Share

The Marketaxess Holdings earnings per share therefore indicates how much revenue Marketaxess Holdings has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
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  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2006
2.37 USD
0.25 USD
0.15 USD
Jan 1, 2007
2.71 USD
0.5 USD
0.3 USD
Jan 1, 2008
2.61 USD
0.36 USD
0.21 USD
Jan 1, 2009
3 USD
0.79 USD
0.38 USD
Jan 1, 2010
3.74 USD
1.3 USD
0.73 USD
Jan 1, 2011
4.34 USD
2.06 USD
1.2 USD
Jan 1, 2012
5.05 USD
2.37 USD
1.59 USD
Jan 1, 2013
6.3 USD
2.83 USD
2.01 USD
Jan 1, 2014
6.93 USD
3.13 USD
1.97 USD
Jan 1, 2015
8.06 USD
3.93 USD
2.55 USD
Jan 1, 2016
9.81 USD
5.08 USD
3.35 USD
Jan 1, 2017
10.35 USD
5.25 USD
3.9 USD
Jan 1, 2018
11.49 USD
5.61 USD
4.56 USD
Jan 1, 2019
13.46 USD
6.6 USD
5.39 USD
Jan 1, 2020
18.09 USD
9.83 USD
7.86 USD

Marketaxess Holdings business model & stock analysis

Marketaxess Holdings Inc. is a financial technology company that operates in various areas. It was founded in 2000 in New York and is now listed on the NASDAQ exchange. Marketaxess specializes in facilitating trading of fixed income securities. The company offers platforms that allow market participants to quickly and effectively conduct securities trades over the internet. The business model of Marketaxess is based on making trading of fixed income securities more efficient. By creating virtual trading platforms, traders and issuers from around the world can conduct transactions with each other. The platforms are typically user-friendly and offer participants transparency and high speed in executing trades. The company is divided into various divisions. The core business area is the electronic trading platform for fixed income securities, which Marketaxess offers as a marketplace for over 2,000 fixed income securities. These securities are traded by over 1,500 brokers and dealers located in more than 50 countries worldwide. The platform enables traders to place and monitor their orders in real time. Additionally, Marketaxess also provides data and analytics tools, as well as trading support services. These services help traders make informed decisions and optimize their trading strategies. The data and analytics tools provide users with insights into market developments and help identify trends early on. Another important business area is the facilitation of over-the-counter trading of fixed income securities. Marketaxess acts as an intermediary between buyers and sellers, ensuring that the trading transactions are completed under fair and market-based conditions. This area is particularly important for smaller or medium-sized companies that do not have direct access to financial markets. Marketaxess also operates in Europe, offering the same services as in the United States. In 2020, the company was approved by the European Central Bank to act as an interdealer broker under the ECB's Securities Purchase Program (PEPP). This makes Marketaxess one of the few companies that have been tasked with purchasing bonds under the PEPP program. Overall, Marketaxess provides market participants with a modern and innovative platform for trading fixed income securities. Through continuous technological advancements, the company has become an important player in the financial world and will continue to play a crucial role in the future.

Marketaxess Holdings SWOT Analysis

Strengths

Leading Market Position

Marketaxess Holdings Inc holds a dominant position in the electronic fixed-income trading market, providing a platform for institutional investors to trade efficiently. Its established presence in the industry and large user base give it a competitive edge.

Strong Financial Performance

The company has consistently delivered strong financial results, demonstrating its ability to generate substantial revenue and profits. This financial stability provides Marketaxess with resources to invest in technology innovation and expand its market reach.

Weaknesses

Dependency on Interest Rates

Marketaxess is vulnerable to fluctuations in interest rates, as changes in rates can impact trading volumes and market activity. A significant decline in interest rates could potentially affect the company's revenue and profitability.

Reliance on Institutional Investors

The company heavily relies on institutional investors for its trading volume. Any reduction in institutional trading activity or loss of key clients could have a negative impact on Marketaxess' business performance.

Opportunities

Expansion into International Markets

There is a potential for Marketaxess to expand its electronic trading platform into new geographic markets. By diversifying geographically, the company can tap into additional liquidity pools, attract new customers, and increase its market share.

Growing Demand for Electronic Trading

The increasing trend towards electronic trading in fixed-income markets presents an opportunity for Marketaxess to further penetrate the market. The company can leverage its technological expertise to capture a larger market share and attract more traders to its platform.

Threats

Intense Competition

The electronic fixed-income trading industry is highly competitive, with numerous established players and emerging fintech firms entering the market. Marketaxess must continuously innovate and differentiate itself to stay ahead of competitors.

Regulatory Changes

Changes in financial regulations and compliance requirements can pose a threat to Marketaxess' business operations. Adapting to new regulations and ensuring compliance may result in additional costs and operational challenges.

Marketaxess Holdings Segments

Marketaxess Holdings Revenue by Segment

  • 3 Years

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Commission revenue
Commissions
Information Services
Post-trade Services
Technology Services
Other
Other revenues
Details
Date
Commission revenue
Commissions
Information Services
Post-trade Services
Technology Services
Other
Other revenues
Jan 1, 2018
390.83 M USD
0 USD
752,000 USD
333,000 USD
0 USD
0 USD
1.16 M USD
Jan 1, 2019
463.86 M USD
0 USD
30.73 M USD
15.76 M USD
0 USD
0 USD
1 M USD
Jan 1, 2020
634.45 M USD
0 USD
34.34 M USD
19.46 M USD
0 USD
0 USD
879,000 USD
Jan 1, 2021
621.01 M USD
0 USD
38.18 M USD
38.92 M USD
0 USD
0 USD
846,000 USD
Jan 1, 2022
0 USD
641.18 M USD
39.31 M USD
36.88 M USD
0 USD
926,000 USD
0 USD
Jan 1, 2024
711.71 M USD
0 USD
50.54 M USD
42.49 M USD
12.36 M USD
0 USD
0 USD
Jan 1, 2025
734.62 M USD
0 USD
53.23 M USD
44.49 M USD
13.92 M USD
0 USD
0 USD

Marketaxess Holdings Revenue by Region

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  • 5 Years

  • Max

Americas
United States
United Kingdom
Europe
Other Countries
Asia
Other geographic area
Details
Date
Americas
United States
United Kingdom
Europe
Other Countries
Asia
Other geographic area
Jan 1, 2016
0 USD
314.34 M USD
54.02 M USD
0 USD
0 USD
0 USD
1.56 M USD
Jan 1, 2017
0 USD
336.87 M USD
59.15 M USD
0 USD
0 USD
0 USD
1.45 M USD
Jan 1, 2018
0 USD
367.37 M USD
66.24 M USD
0 USD
0 USD
0 USD
1.95 M USD
Jan 1, 2019
0 USD
424.73 M USD
84.08 M USD
0 USD
0 USD
0 USD
2.55 M USD
Jan 1, 2020
583.16 M USD
0 USD
0 USD
89.75 M USD
0 USD
16.21 M USD
0 USD
Jan 1, 2021
568.92 M USD
0 USD
0 USD
110.07 M USD
0 USD
19.97 M USD
0 USD
Jan 1, 2022
581.94 M USD
0 USD
0 USD
119.11 M USD
0 USD
17.25 M USD
0 USD
Jan 1, 2024
0 USD
568.6 M USD
161.84 M USD
0 USD
86.66 M USD
0 USD
0 USD
Jan 1, 2025
0 USD
568.38 M USD
177.26 M USD
0 USD
100.63 M USD
0 USD
0 USD

Marketaxess Holdings Eulerpool Fair Value

Marketaxess Holdings historical P/E ratio, EBIT multiple, and P/S ratio

Marketaxess Holdings annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Marketaxess Holdings shares outstanding

The number of shares was Marketaxess Holdings in 2025 — This indicates how many shares 37.137 M is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
  • 3 Years

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  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2006
35.1 M base_Shares
Jan 1, 2007
34.5 M base_Shares
Jan 1, 2008
35.7 M base_Shares
Jan 1, 2009
38.1 M base_Shares
Jan 1, 2010
39.1 M base_Shares
Jan 1, 2011
39.6 M base_Shares
Jan 1, 2012
37.8 M base_Shares
Jan 1, 2013
37.9 M base_Shares
Jan 1, 2014
37.9 M base_Shares
Jan 1, 2015
37.6 M base_Shares
Jan 1, 2016
37.7 M base_Shares
Jan 1, 2017
38 M base_Shares
Jan 1, 2018
37.9 M base_Shares
Jan 1, 2019
38 M base_Shares
Jan 1, 2020
38.1 M base_Shares

Marketaxess Holdings Dividend History

18 years of dividend payments · 12 consecutive increases

YearAnnual DividendYoY ChangePayments
20260.78USDYTD
Feb 18, 20260.78USD 2.6%1/1
20253.04USD 2.7%
Feb 19, 20250.76USD 2.7%1/4
May 21, 20250.76USD 0.0%2/4
Aug 20, 20250.76USD 0.0%3/4
Nov 19, 20250.76USD 0.0%4/4
20242.96USD 2.8%
20232.88USD 2.9%
20222.8USD 6.1%
20212.64USD 10.0%
20202.4USD 17.6%
20192.04USD 21.4%
20181.68USD 1.8%
20171.65USD 58.7%

Marketaxess Holdings dividend history and estimates

In 2025, Marketaxess Holdings paid a dividend amounting to 3.04 USD. Dividend means that Marketaxess Holdings distributes a portion of its profits to its owners.
  • Max

Dividend
Dividend (Estimate)
Special dividend
Details
Date
Dividend
Dividend (Estimate)
Special dividend
Invalid Date
0.07 USD
0.21 USD
0 USD
Jan 1, 2010
0.28 USD
0 USD
0 USD
Jan 1, 2011
0.36 USD
0 USD
0 USD
Jan 1, 2012
1.74 USD
0 USD
0 USD
Jan 1, 2013
0.52 USD
0 USD
0 USD
Jan 1, 2014
0.64 USD
0 USD
0 USD
Jan 1, 2015
0.8 USD
0 USD
1.3 USD
Jan 1, 2016
1.04 USD
0 USD
0 USD
Jan 1, 2017
1.65 USD
0 USD
0 USD
Jan 1, 2018
1.68 USD
0 USD
0 USD
Jan 1, 2019
2.04 USD
0 USD
0 USD
Jan 1, 2020
2.4 USD
0 USD
0 USD
Jan 1, 2021
2.64 USD
0 USD
0 USD
Jan 1, 2022
2.8 USD
0 USD
0 USD
Jan 1, 2023
2.88 USD
0 USD
0 USD

Marketaxess Holdings dividend payout ratio

In 2025, Marketaxess Holdings had a payout ratio of 39.59%. The payout ratio indicates the percentage of the company's profits that Marketaxess Holdings distributes as dividends.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2006
37.22 %
Jan 1, 2007
37.22 %
Jan 1, 2008
37.22 %
Jan 1, 2009
18.42 %
Jan 1, 2010
38.89 %
Jan 1, 2011
30 %
Jan 1, 2012
110.13 %
Jan 1, 2013
26 %
Jan 1, 2014
32.49 %
Jan 1, 2015
31.37 %
Jan 1, 2016
31.14 %
Jan 1, 2017
42.42 %
Jan 1, 2018
36.84 %
Jan 1, 2019
37.78 %
Jan 1, 2020
30.57 %
Price targets and forecasts for Marketaxess Holdings are not yet available.

Marketaxess Holdings Earnings Estimates

Marketaxess Holdings Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
5/5/20262.19USD235.93 MUSD2026 Q1
2/6/20261.68USD217.34 MUSD2025 Q4
1/28/20261.72USD217.88 MUSD2025 Q4
4/24/20241.98USD220.27 MUSD2024 Q1
1/23/20241.6USD191.57 MUSD2023 Q4
7/18/20231.96USD202.69 MUSD2023 Q2
4/18/20232USD206.17 MUSD2023 Q1
1/24/20231.59USD179.66 MUSD2022 Q4
10/19/20221.53USD175.11 MUSD2022 Q3
7/20/20221.73USD186.85 MUSD2022 Q2
...

EESG©

Eulerpool ESG Scorecard© for the Marketaxess Holdings stock

66/100
37
Environment
99
Social
63
Governance
E

Environment

20
Scope 1 - Direct Emissions177
Scope 2 - Indirect emissions from purchased energy631
Scope 3 - Indirect emissions within the value chain15,057
Total CO₂ emissions809
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides
Palm Oil
Tobacco
Genetically modified organisms
Climate concept
Sustainable forestry
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees28.4
Percentage of women in management
Percentage of Asian employees33.9
Share of Asian management15.4
Percentage of Hispanic/Latino employees8
Hispano/Latino Management share
Percentage of Black employees4.3
Black Management Share
Percentage of white employees52.2
White Management Share84.6
Adult content
Alcohol
Weapons
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Marketaxess Holdings shareholder structure

% Name
10.36942%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
6.27384%
T. Rowe Price Investment Management, Inc.
T. Rowe Price Investment Management, Inc.
5.49349%
BlackRock Institutional Trust Company, N.A.
BlackRock Institutional Trust Company, N.A.
4.92224%
Van Eck Associates Corporation
Van Eck Associates Corporation
4.66119%
Fidelity Management & Research Company LLC
Fidelity Management & Research Company LLC
4.12348%
State Street Investment Management (US)
State Street Investment Management (US)
4.03109%
GuardCap Asset Management Limited
GuardCap Asset Management Limited
3.60315%
PRIMECAP Management Company
PRIMECAP Management Company
3.07021%
Geode Capital Management, L.L.C.
Geode Capital Management, L.L.C.
2.04052%
AQR Capital Management, LLC
AQR Capital Management, LLC
...

Marketaxess Holdings Executives and Management Board

CC

Mr. Christopher Concannon

(57)

Chief Executive Officer, Director · since 2019

Compensation5.82 M USD
KM

Mr. Kevin Mcpherson

(54)

Chief Revenue Officer

Compensation2.91 M USD
NP

Mr. Naineshkumar Panchal

(53)

Chief Information Officer

Compensation2.59 M USD
CR

Mr. Christophe Roupie

(59)

Head of EMEA and APAC

Compensation1.93 M USD
IB

Ms. Ilene Fiszel Bieler

(56)

Chief Financial Officer

Compensation1.85 M USD

Marketaxess Holdings Supply Chain

Frequently asked questions about Marketaxess Holdings

Marketaxess Holdings Inc is a leading international financial technology company. Marketaxess operates an electronic trading platform for fixed-income securities, providing institutional investors with efficient and transparent access to global markets. The company's business model revolves around offering innovative trading solutions, advanced trading tools, and extensive liquidity options. Marketaxess enables participants to trade bonds, derivatives, and other types of assets electronically, facilitating cost savings, improved pricing, and greater execution efficiency. By leveraging cutting-edge technology and deep market expertise, Marketaxess continues to revolutionize the way fixed-income securities are traded, offering significant advantages to investors worldwide.

All fundamentals and in-depth analysis of Marketaxess Holdings

Our stock analysis for Marketaxess Holdings Revenue stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Marketaxess Holdings Revenue. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.