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TMX Group Ltd (TSE:X)
TSX:X
Canadian Market

TMX Group (X) Ratios

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TMX Group Ratios

TSE:X's free cash flow for Q4 2025 was C$0.25. For the 2025 fiscal year, TSE:X's free cash flow was decreased by C$ and operating cash flow was C$0.15. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
1.00 1.00 1.01 1.00 1.01
Quick Ratio
1.00 1.00 1.01 1.00 1.00
Cash Ratio
0.01 0.01 0.01 <0.01 <0.01
Solvency Ratio
0.01 0.01 0.02 <0.01 0.01
Operating Cash Flow Ratio
0.02 0.02 0.02 <0.01 <0.01
Short-Term Operating Cash Flow Coverage
1.42 1.34 2.76 0.87 1.68
Net Current Asset Value
C$ -2.63BC$ -2.63BC$ -2.74BC$ -1.63BC$ -1.51B
Leverage Ratios
Debt-to-Assets Ratio
0.04 0.04 0.05 0.02 0.02
Debt-to-Equity Ratio
0.46 0.46 0.47 0.28 0.28
Debt-to-Capital Ratio
0.31 0.31 0.32 0.22 0.22
Long-Term Debt-to-Capital Ratio
0.25 0.25 0.29 0.10 0.16
Financial Leverage Ratio
10.66 10.66 8.78 15.66 14.04
Debt Service Coverage Ratio
0.93 1.08 1.25 0.96 1.41
Interest Coverage Ratio
0.77 0.59 0.40 0.31 0.67
Debt to Market Cap
0.15 0.14 0.17 0.12 0.13
Interest Debt Per Share
11.38 12.46 13.67 10.43 6.80
Net Debt to EBITDA
1.01 0.74 0.75 0.36 0.47
Profitability Margins
Gross Profit Margin
42.04%42.04%65.67%96.82%67.21%
EBIT Margin
47.44%66.33%156.80%78.22%130.60%
EBITDA Margin
53.63%72.51%168.14%82.10%140.81%
Operating Profit Margin
26.38%26.38%43.99%18.63%46.89%
Pretax Profit Margin
21.96%21.96%45.86%17.85%60.12%
Net Profit Margin
14.23%14.23%32.98%12.28%48.68%
Continuous Operations Profit Margin
16.36%16.36%36.16%13.39%52.18%
Net Income Per EBT
64.77%64.77%71.91%68.81%80.96%
EBT Per EBIT
83.24%83.24%104.25%95.81%128.21%
Return on Assets (ROA)
0.82%0.82%1.20%0.55%0.97%
Return on Equity (ROE)
8.85%8.74%10.52%8.67%13.61%
Return on Capital Employed (ROCE)
10.14%10.14%8.28%9.35%8.76%
Return on Invested Capital (ROIC)
7.07%7.07%6.33%6.34%7.26%
Return on Tangible Assets
0.96%0.96%1.46%0.61%1.08%
Earnings Yield
3.01%2.86%3.92%4.08%7.18%
Efficiency Ratios
Receivables Turnover
8.61 8.61 5.44 14.28 6.64
Payables Turnover
17.21 17.21 6.23 1.17 5.45
Inventory Turnover
0.00 0.00 0.00 0.00 1.40
Fixed Asset Turnover
18.57 18.57 9.87 20.79 7.94
Asset Turnover
0.06 0.06 0.04 0.05 0.02
Working Capital Turnover Ratio
-0.14 29.99 178.06 78.54 4.20
Cash Conversion Cycle
21.20 21.20 8.46 -287.53 248.25
Days of Sales Outstanding
42.40 42.40 67.07 25.55 54.97
Days of Inventory Outstanding
0.00 0.00 0.00 0.00 260.27
Days of Payables Outstanding
21.20 21.20 58.61 313.08 66.99
Operating Cycle
42.40 42.40 67.07 25.55 315.24
Cash Flow Ratios
Operating Cash Flow Per Share
2.61 2.47 2.25 1.89 1.59
Free Cash Flow Per Share
2.18 2.04 1.98 1.65 1.41
CapEx Per Share
0.44 0.44 0.27 0.23 0.19
Free Cash Flow to Operating Cash Flow
0.83 0.82 0.88 0.88 0.88
Dividend Paid and CapEx Coverage Ratio
2.05 1.94 2.21 2.00 1.87
Capital Expenditure Coverage Ratio
6.00 5.67 8.46 8.05 8.56
Operating Cash Flow Coverage Ratio
0.34 0.32 0.29 0.46 0.40
Operating Cash Flow to Sales Ratio
0.25 0.24 0.43 0.18 0.40
Free Cash Flow Yield
4.39%3.90%4.47%5.27%5.19%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
33.22 34.94 25.51 24.51 13.92
Price-to-Sales (P/S) Ratio
4.73 4.97 8.41 3.01 6.78
Price-to-Book (P/B) Ratio
2.90 3.05 2.68 2.12 1.89
Price-to-Free Cash Flow (P/FCF) Ratio
22.80 25.63 22.35 18.98 19.26
Price-to-Operating Cash Flow Ratio
19.00 21.12 19.70 16.62 17.01
Price-to-Earnings Growth (PEG) Ratio
-3.43 -2.43 0.71 -0.71 0.23
Price-to-Fair Value
2.90 3.05 2.68 2.12 1.89
Enterprise Value Multiple
9.82 7.60 5.76 4.02 5.28
Enterprise Value
15.39B 16.10B 14.13B 9.58B 8.29B
EV to EBITDA
9.82 7.60 5.76 4.02 5.28
EV to Sales
5.26 5.51 9.68 3.30 7.43
EV to Free Cash Flow
25.41 28.42 25.71 20.83 21.13
EV to Operating Cash Flow
21.17 23.41 22.67 18.24 18.66
Tangible Book Value Per Share
-8.44 -8.44 -8.99 -4.23 -4.70
Shareholders’ Equity Per Share
17.10 17.11 16.50 14.77 14.30
Tax and Other Ratios
Effective Tax Rate
0.26 0.26 0.21 0.25 0.13
Revenue Per Share
10.50 10.51 5.26 10.42 4.00
Net Income Per Share
1.49 1.49 1.74 1.28 1.95
Tax Burden
0.65 0.65 0.72 0.69 0.81
Interest Burden
0.46 0.33 0.29 0.23 0.46
Research & Development to Revenue
0.00 0.00 0.00 <0.01 0.00
SG&A to Revenue
0.00 0.00 0.00 0.00 0.00
Stock-Based Compensation to Revenue
<0.01 <0.01 <0.01 <0.01 <0.01
Income Quality
1.25 1.07 1.29 1.01 0.66
Currency in CAD