TMX GROUP LTD (X.CA) Fundamental Analysis & Valuation
TSX:X • CA87262K1057
47.6 CAD
+0.55 (+1.17%)
Last: Mar 11, 2026, 07:00 PM
This X.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, X scores 5 out of 10 in our fundamental rating. X was compared to 82 industry peers in the Capital Markets industry. X has an average financial health and profitability rating. X is quite expensive at the moment. It does show a decent growth rate. X also has an excellent dividend rating. This makes X very considerable for dividend investing!
1. X.CA Profitability Analysis
1.1 Basic Checks
- In the past year X was profitable.
- In the past year X had a positive cash flow from operations.
- In the past 5 years X has always been profitable.
- In the past 5 years X always reported a positive cash flow from operatings.
1.2 Ratios
- The Return On Assets of X (0.82%) is comparable to the rest of the industry.
- X has a better Return On Equity (8.74%) than 63.41% of its industry peers.
- X has a better Return On Invested Capital (7.77%) than 75.61% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for X is below the industry average of 10.67%.
- The 3 year average ROIC (7.12%) for X is below the current ROIC(7.77%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.82% | ||
| ROE | 8.74% | ||
| ROIC | 7.77% |
ROA(3y)0.86%
ROA(5y)0.82%
ROE(3y)9.31%
ROE(5y)10.13%
ROIC(3y)7.12%
ROIC(5y)7%
1.3 Margins
- With a decent Profit Margin value of 14.23%, X is doing good in the industry, outperforming 60.98% of the companies in the same industry.
- In the last couple of years the Profit Margin of X has declined.
- X's Operating Margin of 26.38% is fine compared to the rest of the industry. X outperforms 65.85% of its industry peers.
- In the last couple of years the Operating Margin of X has declined.
- With a decent Gross Margin value of 58.76%, X is doing good in the industry, outperforming 74.39% of the companies in the same industry.
- In the last couple of years the Gross Margin of X has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 26.38% | ||
| PM (TTM) | 14.23% | ||
| GM | 58.76% |
OM growth 3Y-2.73%
OM growth 5Y-8.85%
PM growth 3Y-21.23%
PM growth 5Y-12.2%
GM growth 3Y-0.63%
GM growth 5Y-6.97%
2. X.CA Health Analysis
2.1 Basic Checks
- Compared to 1 year ago, X has about the same amount of shares outstanding.
- X has less shares outstanding than it did 5 years ago.
- Compared to 1 year ago, X has an improved debt to assets ratio.
2.2 Solvency
- X has an Altman-Z score of 0.33. This is a bad value and indicates that X is not financially healthy and even has some risk of bankruptcy.
- The Altman-Z score of X (0.33) is comparable to the rest of the industry.
- The Debt to FCF ratio of X is 3.35, which is a good value as it means it would take X, 3.35 years of fcf income to pay off all of its debts.
- The Debt to FCF ratio of X (3.35) is better than 65.85% of its industry peers.
- X has a Debt/Equity ratio of 0.35. This is a healthy value indicating a solid balance between debt and equity.
- Looking at the Debt to Equity ratio, with a value of 0.35, X is in line with its industry, outperforming 48.78% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.35 | ||
| Debt/FCF | 3.35 | ||
| Altman-Z | 0.33 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
- X has a Current Ratio of 1.00. This is a normal value and indicates that X is financially healthy and should not expect problems in meeting its short term obligations.
- Looking at the Current ratio, with a value of 1.00, X is in line with its industry, outperforming 53.66% of the companies in the same industry.
- A Quick Ratio of 1.00 indicates that X should not have too much problems paying its short term obligations.
- X's Quick ratio of 1.00 is in line compared to the rest of the industry. X outperforms 53.66% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1 | ||
| Quick Ratio | 1 |
3. X.CA Growth Analysis
3.1 Past
- X shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.71%, which is quite impressive.
- Measured over the past years, X shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.51% on average per year.
- Looking at the last year, X shows a decrease in Revenue. The Revenue has decreased by -1.69% in the last year.
- Measured over the past years, X shows a very strong growth in Revenue. The Revenue has been growing by 23.29% on average per year.
EPS 1Y (TTM)24.71%
EPS 3Y14.18%
EPS 5Y12.51%
EPS Q2Q%25%
Revenue 1Y (TTM)-1.69%
Revenue growth 3Y16.16%
Revenue growth 5Y23.29%
Sales Q2Q%16.4%
3.2 Future
- The Earnings Per Share is expected to grow by 11.74% on average over the next years. This is quite good.
- Based on estimates for the next years, X will show a quite strong growth in Revenue. The Revenue will grow by 9.08% on average per year.
EPS Next Y10.78%
EPS Next 2Y10.36%
EPS Next 3Y11.74%
EPS Next 5YN/A
Revenue Next Year9.81%
Revenue Next 2Y8.18%
Revenue Next 3Y9.08%
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. X.CA Valuation Analysis
4.1 Price/Earnings Ratio
- X is valuated rather expensively with a Price/Earnings ratio of 22.45.
- Based on the Price/Earnings ratio, X is valued a bit more expensive than 65.85% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 26.15. X is around the same levels.
- With a Price/Forward Earnings ratio of 20.27, X is valued on the expensive side.
- Based on the Price/Forward Earnings ratio, X is valued a bit cheaper than 63.41% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of X to the average of the S&P500 Index (24.27), we can say X is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.45 | ||
| Fwd PE | 20.27 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of X is on the same level as its industry peers.
- Based on the Price/Free Cash Flow ratio, X is valued a bit cheaper than the industry average as 74.39% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 20.58 | ||
| EV/EBITDA | 15.22 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates X does not grow enough to justify the current Price/Earnings ratio.
- X has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.08
PEG (5Y)1.79
EPS Next 2Y10.36%
EPS Next 3Y11.74%
5. X.CA Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 1.74%, X has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 1.69, X pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, X has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.74% |
5.2 History
- The dividend of X is nicely growing with an annual growth rate of 9.02%!
- X has been paying a dividend for at least 10 years, so it has a reliable track record.
- X has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)9.02%
Div Incr Years9
Div Non Decr Years21
5.3 Sustainability
- 56.19% of the earnings are spent on dividend by X. This is a bit on the high side, but may be sustainable.
- X's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP56.19%
EPS Next 2Y10.36%
EPS Next 3Y11.74%
X.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:X (3/11/2026, 7:00:00 PM)
47.6
+0.55 (+1.17%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-05 2026-02-05/amc
Earnings (Next)05-04 2026-05-04
Inst Owners57.06%
Inst Owner ChangeN/A
Ins Owners1.15%
Ins Owner ChangeN/A
Market Cap13.24B
Revenue(TTM)2.92B
Net Income(TTM)415.70M
Analysts80
Price Target62.48 (31.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.74% |
Yearly Dividend0.84
Dividend Growth(5Y)9.02%
DP56.19%
Div Incr Years9
Div Non Decr Years21
Ex-Date02-20 2026-02-20 (0.24)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.76%
Min EPS beat(2)5.49%
Max EPS beat(2)8.02%
EPS beat(4)3
Avg EPS beat(4)3.78%
Min EPS beat(4)-1.64%
Max EPS beat(4)8.02%
EPS beat(8)6
Avg EPS beat(8)3.01%
EPS beat(12)8
Avg EPS beat(12)2%
EPS beat(16)10
Avg EPS beat(16)1.71%
Revenue beat(2)2
Avg Revenue beat(2)1.1%
Min Revenue beat(2)1.05%
Max Revenue beat(2)1.16%
Revenue beat(4)3
Avg Revenue beat(4)0.71%
Min Revenue beat(4)-0.57%
Max Revenue beat(4)1.2%
Revenue beat(8)5
Avg Revenue beat(8)0.43%
Revenue beat(12)7
Avg Revenue beat(12)11.94%
Revenue beat(16)11
Avg Revenue beat(16)25.31%
PT rev (1m)-2.2%
PT rev (3m)-2%
EPS NQ rev (1m)4.21%
EPS NQ rev (3m)5.21%
EPS NY rev (1m)1.24%
EPS NY rev (3m)1.82%
Revenue NQ rev (1m)4.92%
Revenue NQ rev (3m)4.92%
Revenue NY rev (1m)2.48%
Revenue NY rev (3m)2.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.45 | ||
| Fwd PE | 20.27 | ||
| P/S | 4.53 | ||
| P/FCF | 20.58 | ||
| P/OCF | 17.32 | ||
| P/B | 2.78 | ||
| P/tB | N/A | ||
| EV/EBITDA | 15.22 |
EPS(TTM)2.12
EY4.45%
EPS(NY)2.35
Fwd EY4.93%
FCF(TTM)2.31
FCFY4.86%
OCF(TTM)2.75
OCFY5.78%
SpS10.5
BVpS17.1
TBVpS-9.21
PEG (NY)2.08
PEG (5Y)1.79
Graham Number28.56
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.82% | ||
| ROE | 8.74% | ||
| ROCE | 10.14% | ||
| ROIC | 7.77% | ||
| ROICexc | 8.33% | ||
| ROICexgc | N/A | ||
| OM | 26.38% | ||
| PM (TTM) | 14.23% | ||
| GM | 58.76% | ||
| FCFM | 22.02% |
ROA(3y)0.86%
ROA(5y)0.82%
ROE(3y)9.31%
ROE(5y)10.13%
ROIC(3y)7.12%
ROIC(5y)7%
ROICexc(3y)7.62%
ROICexc(5y)7.52%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)9.3%
ROCE(5y)9.16%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y3.77%
ROICexc growth 5Y5.65%
OM growth 3Y-2.73%
OM growth 5Y-8.85%
PM growth 3Y-21.23%
PM growth 5Y-12.2%
GM growth 3Y-0.63%
GM growth 5Y-6.97%
F-Score5
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.35 | ||
| Debt/FCF | 3.35 | ||
| Debt/EBITDA | 1.73 | ||
| Cap/Depr | 67.07% | ||
| Cap/Sales | 4.15% | ||
| Interest Coverage | 8.58 | ||
| Cash Conversion | 80.36% | ||
| Profit Quality | 154.82% | ||
| Current Ratio | 1 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 0.33 |
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)56.51%
Cap/Depr(5y)54.78%
Cap/Sales(3y)2.96%
Cap/Sales(5y)3.32%
Profit Quality(3y)132.71%
Profit Quality(5y)117.13%
High Growth Momentum
Growth
EPS 1Y (TTM)24.71%
EPS 3Y14.18%
EPS 5Y12.51%
EPS Q2Q%25%
EPS Next Y10.78%
EPS Next 2Y10.36%
EPS Next 3Y11.74%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.69%
Revenue growth 3Y16.16%
Revenue growth 5Y23.29%
Sales Q2Q%16.4%
Revenue Next Year9.81%
Revenue Next 2Y8.18%
Revenue Next 3Y9.08%
Revenue Next 5YN/A
EBIT growth 1Y20.04%
EBIT growth 3Y13%
EBIT growth 5Y12.39%
EBIT Next Year24.52%
EBIT Next 3Y15.48%
EBIT Next 5YN/A
FCF growth 1Y17.08%
FCF growth 3Y17.95%
FCF growth 5Y13.28%
OCF growth 1Y22.68%
OCF growth 3Y19.86%
OCF growth 5Y13.16%
TMX GROUP LTD / X.CA FAQ
Can you provide the ChartMill fundamental rating for TMX GROUP LTD?
ChartMill assigns a fundamental rating of 5 / 10 to X.CA.
What is the valuation status for X stock?
ChartMill assigns a valuation rating of 3 / 10 to TMX GROUP LTD (X.CA). This can be considered as Overvalued.
How profitable is TMX GROUP LTD (X.CA) stock?
TMX GROUP LTD (X.CA) has a profitability rating of 6 / 10.
How financially healthy is TMX GROUP LTD?
The financial health rating of TMX GROUP LTD (X.CA) is 5 / 10.
What is the earnings growth outlook for TMX GROUP LTD?
The Earnings per Share (EPS) of TMX GROUP LTD (X.CA) is expected to grow by 10.78% in the next year.