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Public Comps and Valuation Multiples
for Stock Exchanges

Benchmark revenue and EBITDA valuation multiples for public comps like Intercontinental Exchange, CME Group, Cboe Global Markets, Japan Exchange Group and HKEX.

Stock Exchanges

See analyst estimates and all valuation multiples for Stock Exchanges
Company EV EV/Revenue EV/EBITDA
$120B 12.6x 19.1x
$104B 16.6x 23.5x
$89.8B 7.7x 15.8x
$52.6B 11.0x 19.4x
$28.9B 9.6x 13.1x
$24.7B 11.6x 18.0x
$13.6B 7.9x 11.2x
$12.5B 11.4x 20.8x
$11.4B 11.1x 18.4x
$10.6B 9.5x 14.6x
$9.6B 26.1x 48.5x
$5.0B 13.1x 30.6x
$3.1B 23.4x 36.8x
$2.4B n/a n/a
$2.1B 14.0x 36.0x
$1.8B 28.0x 32.0x
$1.6B 12.3x 17.1x
$1.3B 7.5x 13.4x
$1.2B 1.7x 2.7x
$1.1B 9.0x 20.9x
$1.0B 4.7x 8.2x
$573M 5.2x 13.7x
$463M n/a n/a
$423M n/a n/a
$326M 4.5x 11.2x
$283M 4.5x 9.6x
$277M 2.2x 6.6x
$217M n/a n/a
$194M 6.1x n/a
$79.5M n/a n/a
$55.4M 3.2x n/a
$54.5M n/a n/a
$51.9M n/a n/a
$17.5M n/a n/a
$5.0M n/a n/a
$2.3M n/a n/a
-$76.2B -11.4x -19.5x
-$276B -146.9x -240.4x

Valuation multiples as of last 12 months (LTM). Financial data powered by Morningstar, Inc.

See analyst estimates and M&A multiples for Stock Exchanges

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