TMX Group Ltd (TSE:X)
TSX:X
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X Stock Chart & Stats
C$53.60
-C$0.25(-0.57%)
At close: 4:00 PM EST
C$53.60
-C$0.25(-0.57%)
Day’s Range― - ―
52-Week RangeC$44.10 - C$57.98
Previous CloseN/A
Volume82.58K
Average Volume (3M)708.39K
Market Cap
C$14.27B
Enterprise ValueC$32.23B
Total Cash (Recent Filing)C$5.02B
Total Debt (Recent Filing)C$21.52B
Price to Earnings (P/E)26.9
Beta0.38
Next Earnings
Aug 05, 2026EPS Estimate
0.58Next Dividend Ex-DateN/A
Dividend Yield1.61%
Share Statistics
EPS (TTM)1.92
Shares Outstanding275,708,830
10 Day Avg. Volume648,819
30 Day Avg. Volume708,392
Financial Highlights & Ratios
PEG Ratio-2.43
Price to Book (P/B)3.05
Price to Sales (P/S)4.97
P/FCF Ratio25.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$65.29Price Target Upside21.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)2.42
Revenue Forecast (FY)C$1.91B
Bulls Say, Bears Say
Bulls Say
Strong Profitability And ROE ImprovementTMX’s trailing‑12‑month income statement shows durable margin strength and an improved return on equity, indicating efficient capital use and the ability to convert revenue into profits. Strong operating profitability supports long‑term cash generation and resilience across market cycles.
Diversified Fee‑based Business ModelA mix of listings, transaction, clearing, market data and technology revenues creates multiple recurring fee streams tied to client activity. This structural diversification reduces single‑point revenue risk and supports predictable cash flows over multi‑month horizons despite cyclical volume swings.
Manageable Balance Sheet LeverageDebt at roughly mid‑0.4x D/E provides financial flexibility for investments and operating needs typical of an exchange/data business. Manageable leverage supports capital allocation and dividend capacity, helping sustain long‑term operations without immediate refinancing pressure.
Bears Say
Revenue VolatilityTMX’s top‑line has shown material year‑to‑year swings, reducing predictability of transaction and listing income. For a primarily fee‑based business, volatile revenues complicate budgeting, capital allocation and forecasting of recurring revenue streams over the medium term.
Operating Cash Flow Weak Versus EarningsA gap between reported earnings and operating cash flow signals timing or working‑capital effects that may inflate profit metrics. Persistently lower cash conversion undermines free cash availability for debt service, buybacks or reinvestment, increasing medium‑term financial risk.
Material Step‑up In Debt TTMA recent material rise in debt levels heightens exposure to interest and refinancing risk, particularly given revenue volatility and weaker cash conversion. Higher leverage reduces buffer for earnings shocks and constrains strategic flexibility over the next several quarters.
TMX Group News
X FAQ
What was TMX Group Ltd’s price range in the past 12 months?
TMX Group Ltd lowest stock price was C$44.10 and its highest was C$57.98 in the past 12 months.
What is TMX Group Ltd’s market cap?
TMX Group Ltd’s market cap is C$14.27B.
When is TMX Group Ltd’s upcoming earnings report date?
TMX Group Ltd’s upcoming earnings report date is Aug 05, 2026 which is in 49 days.
How were TMX Group Ltd’s earnings last quarter?
TMX Group Ltd released its earnings results on May 04, 2026. The company reported C$0.65 earnings per share for the quarter, beating the consensus estimate of C$0.589 by C$0.061.
Is TMX Group Ltd overvalued?
According to Wall Street analysts TMX Group Ltd’s price is currently Undervalued.
Does TMX Group Ltd pay dividends?
TMX Group Ltd pays a Quarterly dividend of C$0.24 which represents an annual dividend yield of 1.61%. See more information on TMX Group Ltd dividends here
What is TMX Group Ltd’s EPS estimate?
TMX Group Ltd’s EPS estimate is 0.58.
How many shares outstanding does TMX Group Ltd have?
TMX Group Ltd has 275,708,830 shares outstanding.
What happened to TMX Group Ltd’s price movement after its last earnings report?
TMX Group Ltd reported an EPS of C$0.65 in its last earnings report, beating expectations of C$0.589. Following the earnings report the stock price went down -0.447%.
Which hedge fund is a major shareholder of TMX Group Ltd?
Currently, no hedge funds are holding shares in TSE:X
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
TMX Group Stock Smart Score
Outperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Moderate Buy
Average Price Target:
C$65.29 (21.80% Upside)
C$65.29 (21.80% Upside)
Blogger Sentiment
Bullish
TSE:X Sentiment 100%
Sector Average ―
Sector Average ―
Insider Transactions
Bought Shares
Worth C$2.0M over
the Last 3 Months
the Last 3 Months
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
26.05%
12-Months-Change
Fundamentals
Return on Equity
16.24%
Trailing 12-Months
Asset Growth
7.69%
Trailing 12-Months
Company Description
TMX Group Ltd
TMX Group Limited is a major global player operating a network of exchanges, markets, and clearinghouses primarily dedicated to capital markets, both within Canada and internationally. The company organizes its business into four distinct segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading and Clearing; and Equities and Fixed Income Trading & Clearing. The Global Solutions, Insights & Analytics segment offers comprehensive equity and index data, alongside integrated datasets, to support proprietary and third-party analytics that aid clients in their trading and investment decisions. This division also furnishes solutions for European and global wholesale energy markets, facilitating price discovery, trade execution, post-trade transparency, and streamlined processing. Within the Capital Formation segment, TMX Group manages the Toronto Stock Exchange, Canada's premier stock exchange for established public companies, and the TSX Venture Exchange, which caters to the public venture equity market. This segment additionally includes TSX Trust, providing a suite of services such as corporate trust administration, registrar duties, transfer agency, and foreign exchange. The Derivatives Trading and Clearing segment oversees the Montreal Exchange, a national platform for derivatives, and the Canadian Derivatives Clearing Corporation, which functions as a clearinghouse for options and futures contracts. This segment also handles various over-the-counter (OTC) products and fixed income repurchase agreements. Lastly, the Equities and Fixed Income Trading & Clearing segment is responsible for the trading operations across the Toronto Stock Exchange, TSX Venture Exchange, and TSX Alpha Exchange. It also manages the clearing and settlement processes for both equity and fixed income transactions, provides securities custody, and offers inter-dealer brokerage services for fixed income. Established in 2011, the company was initially known as Maple Group Acquisition Corporation before adopting the name TMX Group Limited in August 2012. Its corporate headquarters are located in Toronto, Canada.
X Earnings Call
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial picture: broad-based revenue growth across segments, record quarterly and full-year performance, significant AUM and product expansion at VettaFi, Trayport recurring revenue growth, strong capital formation and a healthy balance sheet with a dividend increase. Notable negatives include a large noncash FX-driven hit to reported EPS, elevated operating expenses driven by regulatory passthroughs, acquisition and litigation costs, some weakness in fixed income trading revenue and modest market-share erosion. Management emphasized that adjusted performance and underlying organic trends remain robust and that many expense items were one-time or acquisition-related.View all TSE:X earnings summariesX Stock 12 Month Forecast
Average Price Target
C$65.29
▲(21.80% Upside)
Technical Analysis
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Options Prices
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