Canada's TMX Group beats Q4 revenue expectations

TMX

05/02/2026 22:19

Overview

Canada financial services firm's Q4 revenue rose 16%, beating analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company announced a 9% dividend increase

Outlook

TMX Group plans to accelerate growth in 2026

Result Drivers

DERIVATIVES TRADING - Revenue from derivatives trading and clearing rose 27% due to higher rates per contract and increased volumes

EQUITY TRADING VOLUMES - Equity trading volumes increased 38%, boosting equities and fixed income trading revenue by 23%

ACQUISITIONS - Revenue growth included contributions from acquisitions like Bond Indices and ETF Stream

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
C$457.80 mln
C$443.70 mln (5 Analysts)
Q4 Adjusted EPS
Beat
C$0.60
C$0.54 (7 Analysts)
Q4 EPS
C$0.41
Q4 Operating Expenses
C$252.10 mln
Q4 Operating Income
C$205.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the financial & commodity market operators & service providers peer group is "buy"

Wall Street's median 12-month price target for TMX Group Ltd is C$61.00, about 29.8% above its February 4 closing price of C$47.01

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 23 three months ago

Press Release: ID:nNFC85CGhn

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)