Canada's TMX Group Q1 revenue rises

TMX

04/05/2026 22:15

Overview

Canada market operator's Q1 revenue rose 16% yr/yr, beating analyst expectations

Adjusted diluted EPS for Q1 increased 33% yr/yr, beating analyst expectations

Company agreed to acquire Cboe Australia and Cboe Canada for US$300 mln, pending approvals

Outlook

TMX Group did not provide specific guidance for the current quarter or full year

Result Drivers

TRANSACTIONAL AND RECURRING REVENUE - Co said strong growth in transactional and recurring revenue businesses drove Q1 results

HIGHER LISTINGS AND TRADING VOLUMES - Revenue growth was led by higher additional listings and TSX Trust revenue, a 12% increase in MX trading volumes, and a 50% increase in equity trading volumes

ACQUISITIONS CONTRIBUTED TO REVENUE - Recent acquisitions, including Bond Indices, ETF Stream, Verity, and nuclear sector indices, added C$10.1 mln to Q1 revenue

Company press release: ID:nNFCgZRzq

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$488.20 mln
C$480.80 mln (6 Analysts)
Q1 Adjusted EPS
Beat
C$0.65
C$0.59 (7 Analysts)
Q1 EPS
C$0.80
Q1 Operating Expenses
C$249.60 mln
Q1 Operating Income
C$238.60 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$62.50, about 12.7% above its May 1 closing price of C$55.48

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)