TMX Group Limited

Latest Results (25.09.2025):

TMX Group Limited reported strong revenue growth of 15% in the second quarter of 2025 compared to the same period last year, reaching $421.7 million. While diluted earnings per share saw a decline of 28% due to foreign exchange losses, the company achieved a 21% increase in adjusted diluted earnings per share. The company also announced a 10% dividend increase, reflecting its commitment to shareholder value.

Revenue Growth

TMX Group Limited's revenue surged by 15% to $421.7 million in Q2/25, up from $367.1 million in Q2/24. This growth was driven by a 33% increase in Derivatives Trading and Clearing, a 26% rise in TMX Trayport, and an 18% boost in Equities and Fixed Income Trading.

Earnings Performance

The diluted earnings per share decreased by 28% to $0.26 in Q2/25 compared to $0.36 in Q2/24. This decline was primarily due to a $0.14 loss per share from net foreign exchange losses.

Adjusted Earnings

Adjusted diluted earnings per share rose by 21% to $0.52 in Q2/25, up from $0.43 in the same quarter last year. This improvement highlights the underlying strength of TMX Group's diversified business model.

Dividend Increase

TMX Group Limited announced a 10% increase in its dividend to $0.22 per common share, marking the fifth dividend increase in three years. The dividend will be payable on August 29, 2025.

Strategic Acquisitions and Projects

In Q2/25, TMX VettaFi acquired ETF Stream Limited for $7.0 million, enhancing its digital and analytics capabilities in Europe. Additionally, the company successfully launched its Post Trade Modernization project on April 28, 2025, setting the stage for future operational efficiencies.

Operational Efficiency

Operating expenses increased by 13% to $229.6 million in Q2/25, reflecting higher headcount, payroll costs, and investments in IT and strategic projects. Despite the rise in expenses, TMX Group maintained strong cash flows from operating activities, which grew by 25% to $262.7 million.