London Stock Exchange Group - Public Comps and Valuation Multiples

London Stock Exchange Group Overview

About London Stock Exchange Group

London Stock Exchange Group is a fully integrated financial exchange company covering the financial market value chain from primary and secondary markets across multiple asset classes over data, index, and analytics down to clearing and post-trading reporting. With the acquisition of Refinitiv, LSEG generates about two thirds of its revenue from data and analytics including its FTSE Russell and WM/Refinitiv benchmarks as well as data feeds and terminals. The group is also a majority shareholder in Tradeweb, one of the dominant global fixed-income trading venues, as well as LCH, the largest clearinghouse for over-the-counter swaps globally.

Founded

2005

HQ

Employees

27.0K+

Website

lseg.com

Sectors

Stock Exchanges
Financial Data & Information
FinTech

Financials

LTM Revenue $12.1B

LTM EBITDA $5.9B

EV

$68.9B

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London Stock Exchange Group Financials

As of August 2025, London Stock Exchange Group reported last 12-month revenue of $12.1B and EBITDA of $5.9B.

In the same period, London Stock Exchange Group generated $10.5B in LTM gross profit and $2.8B in net income.

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London Stock Exchange Group P&L

In the most recent fiscal year, London Stock Exchange Group reported revenue of $12.0B and EBITDA of $5.5B.

London Stock Exchange Group 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	$12.1B	XXX	$12.0B	XXX	XXX	XXX
Gross Profit	$10.5B	XXX	$10.4B	XXX	XXX	XXX
Gross Margin	87%	XXX	87%	XXX	XXX	XXX
EBITDA	$5.9B	XXX	$5.5B	XXX	XXX	XXX
EBITDA Margin	48%	XXX	46%	XXX	XXX	XXX
EBIT	$4.5B	XXX	$2.2B	XXX	XXX	XXX
EBIT Margin	37%	XXX	18%	XXX	XXX	XXX
Net Profit	$2.8B	XXX	$925M	XXX	XXX	XXX
Net Margin	23%	XXX	8%	XXX	XXX	XXX
Net Debt	XXX	XXX	$9.7B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for London Stock Exchange Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $12.1B. EBITDA for the last twelve months was $5.9B. In the most recent fiscal year, London Stock Exchange Group achieved $12.0B in revenue and $5.5B 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	$12.1B	Analyst estimates available to subscribers	$12.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$10.5B	Analyst estimates available to subscribers	$10.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	86.6% gross margin	Analyst estimates available to subscribers	86.8% 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)	$5.9B	Analyst estimates available to subscribers	$5.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	48.5% EBITDA margin	Analyst estimates available to subscribers	46.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$4.5B	Analyst estimates available to subscribers	$2.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	37.1% EBIT margin	Analyst estimates available to subscribers	18.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$2.8B	Analyst estimates available to subscribers	$925M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	22.8% net profit margin	Analyst estimates available to subscribers	7.7% 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	$9.7B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for London Stock Exchange Group

This financial data table provides comprehensive performance metrics for London Stock Exchange Group, 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

London Stock Exchange Group generated $12.1B in revenue over the last twelve months.
The company achieved $5.9B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $10.5B.
Net income over the last twelve months reached $2.8B.

Fiscal Year Performance

In the most recent fiscal year, London Stock Exchange Group reported $12.0B in total revenue.
Fiscal year EBITDA was $5.5B.
The company maintained a gross profit margin of 86.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was 46.0%.
Net profit margin reached 7.7% in the most recent fiscal year.

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

London Stock Exchange Group Stock Performance

London Stock Exchange Group has current market cap of GBP 44.7B (or $60.4B), and EV of GBP 51.0B (or $68.9B).

Market Cap Evolution

London Stock Exchange Group Stock Data

As of September 18, 2025, London Stock Exchange Group's stock price is GBP 86 (or $116).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$68.9B	$60.4B	XXX	XXX	XXX	XXX	$5.25

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London Stock Exchange Group Valuation Multiples

London Stock Exchange Group's trades at 5.8x EV/Revenue multiple, and 12.5x EV/EBITDA.

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London Stock Exchange Group Financial Valuation Multiples

As of September 18, 2025, London Stock Exchange Group has market cap of $60.4B and EV of $68.9B.

Equity research analysts estimate London Stock Exchange Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

London Stock Exchange Group has a P/E ratio of 21.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$60.4B	XXX	$60.4B	XXX	XXX	XXX
EV (current)	$68.9B	XXX	$68.9B	XXX	XXX	XXX
EV/Revenue	5.7x	XXX	5.8x	XXX	XXX	XXX
EV/EBITDA	11.7x	XXX	12.5x	XXX	XXX	XXX
EV/EBIT	15.3x	XXX	31.8x	XXX	XXX	XXX
EV/Gross Profit	6.6x	XXX	n/a	XXX	XXX	XXX
P/E	21.8x	XXX	65.2x	XXX	XXX	XXX
EV/FCF	20.9x	XXX	21.4x	XXX	XXX	XXX

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

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London Stock Exchange Group Margins & Growth Rates

London Stock Exchange Group's last 12 month revenue growth is 7%

London Stock Exchange Group's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

London Stock Exchange Group's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

London Stock Exchange Group's rule of X is 65% (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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London Stock Exchange Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	7%	XXX	5%	XXX	XXX	XXX
EBITDA Margin	48%	XXX	46%	XXX	XXX	XXX
EBITDA Growth	7%	XXX	11%	XXX	XXX	XXX
Rule of 40	50%	XXX	53%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	65%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	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	69%	XXX	XXX	XXX

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

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