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Public Comps and Valuation Multiples for Capital Markets Infrastructure

Benchmark revenue and EBITDA valuation multiples for public comps like
Tradeweb Markets, MarketAxess, StoneX Group, Allfunds and Tadawul Group.

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Capital Markets Infrastructure

CompanyMarket CapEnterprise ValueLTM RevenueEV/LTM RevenueEV/LTM EBITDA
$26B$24B$2B11.5x21.2x
$7B$7B$858M7.7x15.4x
$6B$25B$5B5.5x—
$6B$5B$752M7.2x11.5x
$5B$4B$346M12.8x35.2x
$3B$3B$1B1.7x12.3x
$2B$2B———
$1B$5B———
$1B$1B$66M16.5x19.4x
$316M($5B)$237M(19.1x)—
$36M$33M———
$19M$15M———
$11M$13M———
$11M$8M———
$3M$2M———

Financial data powered by FactSet and Morningstar. Valuation multiples as of last 12 months. For more data, start your free trial here.

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