CMC Markets - Public Comps and Valuation Multiples

CMC Markets Overview

About CMC Markets

CMC Markets PLC is a United Kingdom-based company that provides an online platform for trading and investing, with a comprehensive retail, professional, and institutional offering. The Group’s business consists of two segments, Trading and Investing. The majority of its revenue is generated from the Trading segment, whose core business involves online trading, enabling clients to trade a broad array of financial instruments for short-term investment and hedging purposes. Additionally, the trading segment includes the Treasury Management and Capital Markets Division that invests surplus liquidity to enhance yield. The Investing segment supports clients’ longer-term investment goals. The group offers online stockbroking services in Australia, the UK, the USA, and Singapore.

Founded

2004

HQ

Employees

1.1K+

Website

cmcmarkets.com

Sectors

Investment Brokerage
Electronic Trading
Wealth Solutions
WealthTech
FinTech

Financials

LTM Revenue $423M

LTM EBITDA $138M

EV

$361M

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CMC Markets Financials

As of September 2025, CMC Markets reported last 12-month revenue of $423M and EBITDA of $138M.

In the same period, CMC Markets generated $402M in LTM gross profit and $82.9M in net income.

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CMC Markets P&L

In the most recent fiscal year, CMC Markets reported revenue of $480M and EBITDA of $134M.

CMC Markets expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$423M	XXX	$480M	XXX	XXX	XXX
Gross Profit	$402M	XXX	$302M	XXX	XXX	XXX
Gross Margin	95%	XXX	63%	XXX	XXX	XXX
EBITDA	$138M	XXX	$134M	XXX	XXX	XXX
EBITDA Margin	33%	XXX	28%	XXX	XXX	XXX
EBIT	$120M	XXX	$126M	XXX	XXX	XXX
EBIT Margin	28%	XXX	26%	XXX	XXX	XXX
Net Profit	$82.9M	XXX	$82.9M	XXX	XXX	XXX
Net Margin	20%	XXX	17%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for CMC Markets including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $423M. EBITDA for the last twelve months was $138M. In the most recent fiscal year, CMC Markets achieved $480M in revenue and $134M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$423M	Analyst estimates available to subscribers	$480M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$402M	Analyst estimates available to subscribers	$302M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	95.1% gross margin	Analyst estimates available to subscribers	62.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$138M	Analyst estimates available to subscribers	$134M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	32.6% EBITDA margin	Analyst estimates available to subscribers	27.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$120M	Analyst estimates available to subscribers	$126M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	28.3% EBIT margin	Analyst estimates available to subscribers	26.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$82.9M	Analyst estimates available to subscribers	$82.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	19.6% net profit margin	Analyst estimates available to subscribers	17.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for CMC Markets

This financial data table provides comprehensive performance metrics for CMC Markets, a company based in United Kingdom of Great Britain and Northern Ireland. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

CMC Markets generated $423M in revenue over the last twelve months.
The company achieved $138M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $402M.
Net income over the last twelve months reached $82.9M.

Fiscal Year Performance

In the most recent fiscal year, CMC Markets reported $480M in total revenue.
Fiscal year EBITDA was $134M.
The company maintained a gross profit margin of 62.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 27.9%.
Net profit margin reached 17.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for CMC Markets. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

CMC Markets Stock Performance

CMC Markets has current market cap of GBP 584M (or $779M), and EV of GBP 271M (or $361M).

Market Cap Evolution

CMC Markets Stock Data

As of October 17, 2025, CMC Markets's stock price is GBP 2 (or $3).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$361M	$779M	XXX	XXX	XXX	XXX	$0.30

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CMC Markets Valuation Multiples

CMC Markets's trades at 0.8x EV/Revenue multiple, and 2.7x EV/EBITDA.

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CMC Markets Financial Valuation Multiples

As of October 17, 2025, CMC Markets has market cap of $779M and EV of $361M.

Equity research analysts estimate CMC Markets's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

CMC Markets has a P/E ratio of 9.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$779M	XXX	$779M	XXX	XXX	XXX
EV (current)	$361M	XXX	$361M	XXX	XXX	XXX
EV/Revenue	0.9x	XXX	0.8x	XXX	XXX	XXX
EV/EBITDA	2.6x	XXX	2.7x	XXX	XXX	XXX
EV/EBIT	3.0x	XXX	3.0x	XXX	XXX	XXX
EV/Gross Profit	0.9x	XXX	n/a	XXX	XXX	XXX
P/E	9.4x	XXX	10.0x	XXX	XXX	XXX
EV/FCF	1.7x	XXX	1.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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CMC Markets Margins & Growth Rates

CMC Markets's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

CMC Markets's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

CMC Markets's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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CMC Markets Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	33%	XXX	27%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	37%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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