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TMX Group Valuation Multiples
Discover revenue and EBITDA valuation multiples for TMX Group and similar public comparables like Japan Exchange Group, ASX, MCX India, BSE India and more.
TMX Group Overview
About TMX Group
TMX Group Ltd is a company that operates several markets to provide investment opportunities for its clients. The company has four operating segments: Global Solutions, Insights & Analytics, Capital Formation, Derivatives Trading & Clearing, and Equities and Fixed Income Trading & Clearing. The maximum of its revenue is from Global Solutions, Insights & Analytics, which deliver equities data, index data as well as integrated data sets to fuel high value proprietary and third party analytics, which help clients make trading and investment decisions. The company geographically operates in Canada, USA, UK, Germany, and Other Countries, with maximum revenue from Canada.
Founded
2011
HQ
Employees
1.8K
Website
Sectors
Financials (LTM)
EV
$12B
TMX Group Financials
TMX Group reported last 12-month revenue of $1B and EBITDA of $711M.
In the same LTM period, TMX Group generated $711M in EBITDA and $340M in net income.
Revenue (LTM)
TMX Group P&L
In the most recent fiscal year, TMX Group reported revenue of $1B and EBITDA of $2B.
TMX Group expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $1B | XXX | $1B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $817M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 65% | XXX | XXX | XXX |
| EBITDA | $711M | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 55% | XXX | 122% | XXX | XXX | XXX |
| EBIT Margin | 49% | XXX | 48% | XXX | XXX | XXX |
| Net Profit | $340M | XXX | $305M | XXX | XXX | XXX |
| Net Margin | 26% | XXX | 24% | XXX | XXX | XXX |
| Net Debt | — | — | $1B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
TMX Group Stock Performance
TMX Group has current market cap of $11B, and enterprise value of $12B.
Market Cap Evolution
TMX Group's stock price is $38.91.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12B | $11B | -0.5% | XXX | XXX | XXX | $1.10 |
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Start Free TrialTMX Group Valuation Multiples
TMX Group trades at 9.3x EV/Revenue multiple, and 16.9x EV/EBITDA.
EV / Revenue (LTM)
TMX Group Financial Valuation Multiples
As of April 20, 2026, TMX Group has market cap of $11B and EV of $12B.
Equity research analysts estimate TMX Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
TMX Group has a P/E ratio of 31.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $11B | XXX | $11B | XXX | XXX | XXX |
| EV (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV/Revenue | 9.3x | XXX | 9.5x | XXX | XXX | XXX |
| EV/EBITDA | 16.9x | XXX | 7.8x | XXX | XXX | XXX |
| EV/EBIT | 18.9x | XXX | 19.7x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 14.7x | XXX | XXX | XXX |
| P/E | 31.8x | XXX | 35.5x | XXX | XXX | XXX |
| EV/FCF | 31.2x | XXX | 25.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified TMX Group Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
TMX Group Margins & Growth Rates
TMX Group's revenue in the last 12 month grew by 8%.
TMX Group's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.3M for the same period.
TMX Group's rule of 40 is 66% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
TMX Group's rule of X is 81% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
TMX Group Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 9% | XXX | XXX | XXX |
| EBITDA Margin | 55% | XXX | 122% | XXX | XXX | XXX |
| EBITDA Growth | 10% | XXX | (51%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 66% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 81% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | 9% | XXX | XXX | XXX |
| Opex to Revenue | 47% | XXX | 48% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
TMX Group Public Comps
See public comps and valuation multiples for other Stock Exchanges comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| TMX Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Japan Exchange Group | XXX | XXX | XXX | XXX | XXX | XXX |
| ASX | XXX | XXX | XXX | XXX | XXX | XXX |
| MCX India | XXX | XXX | XXX | XXX | XXX | XXX |
| BSE India | XXX | XXX | XXX | XXX | XXX | XXX |
| Tadawul Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
TMX Group M&A Activity
TMX Group acquired XXX companies to date.
Last acquisition by TMX Group was on XXXXXXXX, XXXXX. TMX Group acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by TMX Group
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTMX Group Investment Activity
TMX Group invested in XXX companies to date.
TMX Group made its latest investment on XXXXXXXX, XXXXX. TMX Group invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by TMX Group
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout TMX Group
| When was TMX Group founded? | TMX Group was founded in 2011. |
| Where is TMX Group headquartered? | TMX Group is headquartered in Canada. |
| How many employees does TMX Group have? | As of today, TMX Group has over 1K employees. |
| Who is the CEO of TMX Group? | TMX Group's CEO is John McKenzie. |
| Is TMX Group publicly listed? | Yes, TMX Group is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of TMX Group? | TMX Group trades under X ticker. |
| When did TMX Group go public? | TMX Group went public in 2002. |
| Who are competitors of TMX Group? | TMX Group main competitors are Japan Exchange Group, ASX, MCX India, BSE India. |
| What is the current market cap of TMX Group? | TMX Group's current market cap is $11B. |
| What is the current revenue of TMX Group? | TMX Group's last 12 months revenue is $1B. |
| What is the current revenue growth of TMX Group? | TMX Group revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of TMX Group? | Current revenue multiple of TMX Group is 9.3x. |
| Is TMX Group profitable? | Yes, TMX Group is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of TMX Group? | TMX Group's last 12 months EBITDA is $711M. |
| What is TMX Group's EBITDA margin? | TMX Group's last 12 months EBITDA margin is 55%. |
| What is the current EV/EBITDA multiple of TMX Group? | Current EBITDA multiple of TMX Group is 16.9x. |
| What is the current FCF of TMX Group? | TMX Group's last 12 months FCF is $385M. |
| What is TMX Group's FCF margin? | TMX Group's last 12 months FCF margin is 30%. |
| What is the current EV/FCF multiple of TMX Group? | Current FCF multiple of TMX Group is 31.2x. |
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