CMC Markets PLC (GB:CMCX)
LSE:CMCX
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CMC Markets
(LSE:CMCX)
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Rating:82Outperform
Price Target:
436.00 p
▲(31.33% Upside)
Action:ReiteratedDate:04/12/26
The score is driven primarily by strong financial performance (high margins, low leverage, and very strong cash flow) and attractive valuation (low P/E with a solid dividend yield). Technicals are supportive due to the uptrend, but the stock looks overextended on RSI/Stoch, which modestly tempers the overall score.
Positive Factors
High profitability and margins
Sustained high gross and operating margins demonstrate durable operational efficiency in CMC's trading platform model. Strong margins provide a structural buffer against revenue slips, support reinvestment in technology and client services, and underpin long-term ability to fund dividends and capital allocation.
Negative Factors
Negative revenue trend
A material year-over-year revenue decline signals weakening top-line momentum that can erode the long-term growth runway. If persistent, falling revenues will test margin sustainability, limit reinvestment capacity, and require strategic initiatives to restore client activity and product uptake.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross and operating margins demonstrate durable operational efficiency in CMC's trading platform model. Strong margins provide a structural buffer against revenue slips, support reinvestment in technology and client services, and underpin long-term ability to fund dividends and capital allocation.
Read all positive factors
CMC Markets (CMCX) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.07B
Dividend Yield4.65%
Average Volume (3M)236.93K
Price to Earnings (P/E)4.5
Beta (1Y)0.63
Revenue Growth-10.92%
EPS Growth-24.05%
CountryUK
Employees1,071
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.13
Shares Outstanding279,815,460
10 Day Avg. Volume239,883
30 Day Avg. Volume236,929
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)1.36
Price to Sales (P/S)1.58
P/FCF Ratio3.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.32
Revenue Forecast (FY)£406.80M
CMC Markets Business Overview & Revenue Model
Company Description
CMC Markets plc, together with its subsidiaries, provides online retail financial services to retail, professional, stockbroking, and institutional clients in the United Kingdom, Ireland, Europe, Australia, New Zealand, Singapore, Canada, and inte...
How the Company Makes Money
CMC Markets primarily generates revenue from client trading activity on leveraged products (notably CFDs and, where available, spread betting). The core economics are driven by trading-related income: (1) Spread/price markup: CMC typically earns t...
CMC Markets Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
81
Very Positive
Cash Flow
85
Very Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 362.09M | 360.10M | 359.75M | 322.17M | 323.85M | 455.52M |
| Gross Profit | 169.37M | 226.42M | 214.31M | 269.81M | 266.77M | 391.99M |
| EBITDA | 105.88M | 100.37M | 92.71M | 77.48M | 113.69M | 236.79M |
| Net Income | 62.87M | 62.19M | 46.89M | 41.44M | 71.48M | 178.11M |
Balance Sheet | ||||||
| Total Assets | 767.46M | 731.98M | 716.86M | 586.42M | 646.81M | 577.63M |
| Cash, Cash Equivalents and Short-Term Investments | 288.23M | 328.22M | 211.19M | 176.79M | 191.07M | 147.03M |
| Total Debt | 35.76M | 14.34M | 16.91M | 11.82M | 14.45M | 16.46M |
| Total Liabilities | 341.92M | 314.01M | 313.37M | 212.41M | 277.93M | 177.12M |
| Stockholders Equity | 425.05M | 417.97M | 403.49M | 374.01M | 368.88M | 400.52M |
Cash Flow | ||||||
| Free Cash Flow | 128.34M | 166.25M | 60.21M | 42.94M | 140.27M | 105.53M |
| Operating Cash Flow | 132.03M | 175.35M | 80.08M | 71.16M | 156.08M | 117.72M |
| Investing Cash Flow | 35.00K | -41.35M | -41.57M | -31.16M | -17.64M | -17.71M |
| Financing Cash Flow | -81.01M | -41.31M | -21.01M | -69.06M | -82.16M | -69.34M |
CMC Markets Technical Analysis
Positive
332.00
Price Trends
338.39
Positive
321.24
Positive
271.60
Positive
Market Momentum
15.11
Negative
73.62
Negative
83.17
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CMCX, the sentiment is Positive. The current price of 332 is below the 20-day moving average (MA) of 357.52, below the 50-day MA of 338.39, and above the 200-day MA of 271.60, indicating a bullish trend. The MACD of 15.11 indicates Negative momentum. The RSI at 73.62 is Negative, neither overbought nor oversold. The STOCH value of 83.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CMCX.
CMC Markets Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | £3.02B | 12.16 | 47.78% | 4.70% | 1.09% | 4.88% | |
82 Outperform | £1.07B | 4.51 | 14.91% | 4.65% | -10.92% | -24.05% | |
73 Outperform | £2.18B | 10.28 | 9.39% | 6.35% | 5.77% | 81.14% | |
72 Outperform | £5.09B | 10.55 | 20.91% | 3.62% | 9.46% | 32.24% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
51 Neutral | £667.43M | -2.93 | -9.28% | ― | -15.79% | -211.91% |
* Financial Sector Average
GB:CMCX
CMC Markets
389.00
167.61
75.71%
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CMC Markets Corporate Events
Other
CMC Markets Executives Acquire Shares Under UK Incentive Plan
Positive
Apr 8, 2026
CMC Markets has disclosed transactions by senior executives involving the acquisition of ordinary shares under the company’s UK Share Incentive Plan. Head of Global Strategic Partnerships David John Fineberg and Chief Operating Officer Jonat...
Business Operations and StrategyExecutive/Board Changes
CMC Markets Adds Senior Finance Lawyer Emma Earp to Board
Positive
Mar 24, 2026
CMC Markets has appointed senior banking and finance lawyer Emma Earp as a Non-Executive Director, effective 1 April 2026, bringing her onto the Audit, Nomination, Remuneration and Risk Committees. With more than 15 years’ experience in comp...
Other
CMC Markets Executives Acquire Shares Under Incentive Plan
Neutral
Mar 6, 2026
CMC Markets has disclosed share transactions by senior executives under its UK Share Incentive Plan, reinforcing equity-based participation among key management. Head of Global Strategic Partnerships David John Fineberg and Chief Operating Officer...
Other
CMC Markets Executives Acquire Shares Under UK Incentive Plan
Neutral
Feb 6, 2026
CMC Markets has reported that Head of Global Strategic Partnerships David John Fineberg and Chief Operating Officer Jonathan Bendall have each acquired 94 ordinary shares in the company at a price of 319.50p per share under the firm’s UK Sha...
Other
CMC Markets Executives Add Shares Through Dividend Plans
Positive
Jan 12, 2026
CMC Markets has reported a series of share acquisitions by senior executives and managers under its share incentive and dividend reinvestment arrangements. On 8 January 2026, Head of Global Strategic Partnerships David Fineberg and Chief Operating...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.