Explore 3 Stock Ideas & Industry Insights Download Free Report

888-969-2592
Shopping Cart 0
countryflagCA
Login

Home CompaniesTMX Group Limited

TMX Group Limited

Financial Services Financial Data & Stock Exchanges
PortfolioPortfolio WatchlistWatchlist
Company price
60.97 CAD 0.53 ( 0.88%)
Last update at 2026-11-04T14:30:00Z
VOLUME
3807
Market Cap
14992.50M
P/E
36.41

Momentum Score

…

TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates in four segments: Global Insights; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing. The company delivers equities and index data, as well as integrated data sets for the proprietary and third-party analytics to help clients in making trading and investment decisions; and provides solutions to European and global wholesale energy markets for price discovery, trade execution, post-trade transparency, and straight through processing. It also operates Toronto Stock Exchange, a national stock exchange for the senior equities market; TSX Venture Exchange, a national stock exchange for the public venture equity market; TSX Trust that provides corporate trust, registrar, transfer agency, and foreign exchange services; and Newsfile, a news dissemination and regulatory filing provider. In addition, the company operates Montreal Exchange, a national derivatives exchange; Canadian Derivatives Clearing Corporation, a clearinghouse for options and futures contracts; BOX, a US equity operations market; and various over-the-counter products and fixed income repurchase agreements. Further, it engages in the trading operations of Toronto Stock Exchange, TSX Venture Exchange, and Alpha Exchange; CDS Clearing, an automated facility for the clearing and settlement of equities and fixed income transactions, and custody of securities; and provision of fixed income inter-dealer brokerage services, as well as involved in trading operation of AlphaX U.S., a broker-dealer. The company was formerly known as Maple Group Acquisition Corporation and changed its name to TMX Group Limited in August 2012. TMX Group Limited was incorporated in 2011 and is headquartered in Toronto, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
60.97
Low
60.97
High
52 Week Price Range
43.87
Low
57.21
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

TMX Group Limited operates Canada’s primary exchanges and related post-trade, data and technology services for equities and derivatives. Long-term growth may be supported by listing and trading activity plus recurring data and tech fees and wider use of derivatives and clearing, giving an entrenched, fee-based revenue mix that could appeal to investors.

Principal risks are sensitivity to market volumes and listings, regulatory or policy changes to exchange operations, and competitive pressure from alternative trading venues and international platforms.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
60.44
Dividend Yield
1.55%
Revenue TTM
1717.20M
Revenue Per Share
6.17
Gross Profit TTM
1589.80M
Debt / Equity
0.46
ROE
9.76%
Net Debt
1575.70M
ROCE
25.50%
Diluted EPS TTM
1.48

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 641.80M 669.60M 517.40M 670.30M 479.30M
Minority interest -62.30M -45.40M -32.20M -39.10M -
Net income 415.70M 481.50M 356.00M 542.70M 338.50M
Selling general administrative 765.50M 652.20M 127.60M 468.40M 84.30M
Gross profit 1228.40M 958.80M 2806.20M 751.00M 662.60M
Reconciled depreciation 180.70M 165.60M 112.50M 113.80M 87.10M
Ebit 1938.40M 2289.40M 2267.10M 1456.00M 491.20M
Ebitda 2119.10M 2455.00M 2379.60M 1569.80M 657.90M
Depreciation and amortization 180.70M 165.60M 112.50M 113.80M 166.70M
Operating income 771.00M 642.30M 540.00M 1456.00M 491.20M
Other operating expenses 2151.30M 817.80M 2358.30M 592.10M 489.50M
Interest expense 1296.60M 1619.80M 1749.70M 785.70M 91.50M
Tax provision 163.80M 142.70M 129.20M 88.50M 140.80M
Interest income 116.70M 33.40M 1725.50M 145.80M 55.50M
Net interest income -76.70M -85.50M -24.10M -30.80M -36.10M
Income tax expense 163.80M 142.70M 129.20M 88.50M 140.80M
Total revenue 2922.30M 1460.10M 2898.30M 1116.60M 980.70M
Total operating expenses 457.40M 316.50M 2266.20M 226.50M 171.40M
Cost of revenue 1693.90M 501.30M 92.10M 365.60M 318.10M
Total other income expense net -129.20M 27.30M -22.60M -785.70M -11.90M
Net income from continuing ops 478.00M 526.90M 388.20M 581.80M 338.50M
Net income applicable to common shares 415.70M 481.50M 356.00M 542.70M 338.50M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 50721.20M 40209.90M 64337.40M 55983.10M 63199.40M
Intangible assets 4669.10M 4677.50M 3722.70M 3748.90M 3461.10M
Other current assets 42025.80M 31666.90M 57498.80M 49340.80M 57113.50M
Total liab 45749.10M 35387.80M 60015.70M 51775.70M 59493.30M
Total stockholder equity 4757.80M 4577.40M 4107.60M 3987.20M 3706.10M
Other current liab 42181.70M 31676.40M 57845.10M 49650.40M 57413.50M
Common stock 2805.20M - 2769.10M 2831.10M 2875.80M
Capital stock 2805.20M 2795.70M 2769.10M 2831.10M 2875.80M
Retained earnings 1814.70M 1622.80M 1340.10M 1178.30M 817.10M
Other liab - - - 927.90M 888.90M
Good will 2651.30M 2637.70M 1776.80M 1768.70M 1695.80M
Other assets 99.50M - - 47.10M 47.80M
Cash 593.00M 325.00M 301.10M 375.70M 264.30M
Cash and equivalents 10.60M - - 1.30M 2.60M
Total current liabilities 43120.70M 32456.10M 58564.70M 50012.40M 57519.00M
Current deferred revenue 48.90M - 23.40M 20.50M 26.00M
Net debt 1575.70M 1744.00M 849.70M 734.10M 832.40M
Short term debt 523.10M - 617.20M 274.40M 11.30M
Short long term debt 512.10M 225.50M 606.60M 264.00M 2.00M
Short long term debt total 2168.70M - 1150.80M 1109.80M 1096.70M
Other stockholder equity 11.80M - -1329.00M 10.90M 11.80M
Property plant equipment 157.40M - - 140.40M 148.60M
Total current assets 43122.90M 32648.80M 58388.40M 50262.50M 57800.30M
Long term investments 21.00M 18.70M 262.50M 15.50M 45.80M
Net tangible assets - - - -1530.40M -1450.80M
Short term investments 164.60M 108.40M 118.50M 117.40M 77.30M
Net receivables 339.50M 158.40M 202.90M 167.90M 134.60M
Long term debt 1545.10M 1843.50M 448.50M 747.80M 997.10M
Inventory - - 267.10M 260.70M 210.60M
Accounts payable 98.40M 80.50M 79.00M 67.10M 68.20M
Accumulated other comprehensive income 126.10M - -12.70M -33.10M 1.40M
Non currrent assets other 63.60M 7.80M 32.30M 23.50M 23.10M
Non current assets total 7598.30M 7561.10M 5949.00M 5720.60M 5399.10M
Capital lease obligations 111.50M 104.70M 95.70M 98.00M 97.60M
Long term debt total 1645.60M - - 835.40M 1085.40M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments -56.20M -1170.60M -289.30M -41.40M -21.50M
Change to liabilities - - - -65.20M 12.40M
Total cashflows from investing activities -259.20M -1170.60M -289.30M -41.40M -203.90M
Net borrowings -81.00M 868.90M 32.00M 2.40M 79.30M
Total cash from financing activities -387.70M 562.60M -309.20M -292.90M -194.80M
Change to operating activities - - - 9.70M -16.80M
Net income 641.80M 481.50M 517.40M 670.30M 479.30M
Change in cash 44.60M 23.90M -74.60M 111.40M 42.20M
Begin period cash flow 548.40M 301.10M 375.70M 264.30M 222.10M
End period cash flow 593.00M 325.00M 301.10M 375.70M 264.30M
Total cash from operating activities 687.80M 623.40M 524.90M 444.10M 441.40M
Depreciation 180.70M 165.60M 112.50M 113.80M 87.10M
Other cashflows from investing activities -56.20M 30.60M 20.80M 10.50M 7.20M
Dividends paid 233.60M -208.10M -196.90M 185.10M 168.90M
Change to inventory - - -8.70M - -
Change to account receivables -48.60M -41.40M -41.80M -4.30M -19.70M
Sale purchase of stock 8.60M 24.20M -79.90M -74.30M -84.40M
Other cashflows from financing activities -91.20M -122.40M -64.40M -23.80M 66.90M
Change to netincome - - - -152.60M 39.90M
Capital expenditures 121.20M 73.70M 65.20M 51.90M 51.20M
Change in working capital 15.70M -45.30M 1.80M -59.80M -24.10M
Stock based compensation 2.00M 2.00M 2.00M 2.10M 2.20M
Other non cash items -152.40M 19.60M -108.80M -282.30M -103.10M
Free cash flow 566.60M 549.70M 459.70M 392.20M 390.20M

Peer Comparison*

Sector: Financial Services Industry: Financial Data & Stock Exchanges

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
X
TMX Group Limited		 0.53
0.88%		 60.97 36.41 23.26 8.73 3.17 9.73 7.89
SPGI
S&P Global CDR (CAD Hedged)		 0.48
2.20%		 22.32 1.05 0.78 0.31 0.15 9.35 18.64

Profile*

TMX Group Limited

TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates in four segments: Global Insights; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing. The company delivers equities and index data, as well as integrated data sets for the proprietary and third-party analytics to help clients in making trading and investment decisions; and provides solutions to European and global wholesale energy markets for price discovery, trade execution, post-trade transparency, and straight through processing. It also operates Toronto Stock Exchange, a national stock exchange for the senior equities market; TSX Venture Exchange, a national stock exchange for the public venture equity market; TSX Trust that provides corporate trust, registrar, transfer agency, and foreign exchange services; and Newsfile, a news dissemination and regulatory filing provider. In addition, the company operates Montreal Exchange, a national derivatives exchange; Canadian Derivatives Clearing Corporation, a clearinghouse for options and futures contracts; BOX, a US equity operations market; and various over-the-counter products and fixed income repurchase agreements. Further, it engages in the trading operations of Toronto Stock Exchange, TSX Venture Exchange, and Alpha Exchange; CDS Clearing, an automated facility for the clearing and settlement of equities and fixed income transactions, and custody of securities; and provision of fixed income inter-dealer brokerage services, as well as involved in trading operation of AlphaX U.S., a broker-dealer. The company was formerly known as Maple Group Acquisition Corporation and changed its name to TMX Group Limited in August 2012. TMX Group Limited was incorporated in 2011 and is headquartered in Toronto, Canada.

100 Adelaide Street West, Toronto, ON, Canada, M5H 1S3

888 873 8392

https://www.tmx.com

2185

Name Title Year Born
Mr. John D. McKenzie B.B.A., C.M.A., CPA, M.B.A. CEO & Director 1973
Mr. David Arnold Chief Financial Officer NA
Mr. Jayakumar Rajarathinam Chief Operating Officer NA
Ms. Cheryl Graden Chief Legal and Enterprise Corp. Affairs Officer & Corp. Sec. NA
Mr. Luc Fortin Pres, CEO of the Montréal Exchange (MX) & Global Head of Trading NA
Mr. Paul Malcolmson VP of Enterprise Sustainability & Investor Relations NA
Shane Quinn Head of Communications & Public Affairs NA
Sanjay Kulkarni Chief Marketing Officer & Head of Digital Solutions NA
Ms. Cindy Bush Chief HR Officer NA
Mr. Loui Anastasopoulos CEO of Toronto Stock Exchange & Global Head of Capital Formation NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

Kalkine

3 Mining Stock
Ideas Report

Download a free report with stock ideas and industry insights for general information.

Download Free Report Now → sector image

Top Stocks by Market Cap*

ORE
CAD 2.77
+8.86%
APM
CAD 4.95
+8.08%
NUAG
CAD 7.37
+8.06%
BZ
CAD 4.03
+8.04%
AYA
CAD 34.85
+7.96%
HUT
CAD 73.56
-17.26%
PHX
CAD 11.13
-12.22%
IVN
CAD 7.93
-10.70%
EFN
CAD 20.09
-10.39%
OBE
CAD 13.62
-6.71%

Equity Sectors*

  • Basic Materials

    +3.73%

  • Communication Services

    +1.16%

  • Consumer Cyclical

    +1.12%

  • Consumer Defensive

    +0.14%

  • Energy

    -1.87%

  • Financial Services

    +1.53%

  • Healthcare

    +1.50%

  • Industrials

    +0.03%

  • Real Estate

    +0.71%

  • Technology

    +0.40%

  • Utilities

    +0.35%

Note: Daily price change (%) by sector excluding stocks with +/-90% daily price change. Companies above $500 million market capitalization are considered.

Support

Hi! How can we help you today?

Loading…