ASX stock analysis
ASX (AUX) Stock Price & Analysis
AUX Stock Chart & Stats
- Day’s Range
- N/A
- 52-Week Range
- N/A
- Previous Close
- N/A
- Volume
- N/A
- Average Volume (3M)
- N/A
- Market Cap
- CHF 7.39B
- Enterprise Value
- CHF 9.40B
- Total Cash (Recent Filing)
- CHF 10.65B
- Total Debt (Recent Filing)
- CHF 9.65B
- Price to Earnings (P/E)
- 26.8
- Beta
- 0.49
- Next Earnings
- Feb 18, 2027 (Est.)
- EPS Estimate
- 0.79
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 2.99%
Bulls Say, Bears Say
Bulls Say
Critical Market Infrastructure Position
ASX’s role as Australia’s primary exchange and post-trade infrastructure provider supports durable relevance, recurring participant usage and meaningful operating scale. Its position across trading, clearing, settlement and registry functions creates an integrated market role that is difficult to replicate.
Strong Revenue And Margin Profile
Strong revenue growth combined with very high gross and operating margins indicates substantial earnings capacity across market infrastructure activities. This profitability can support technology investment, regulatory requirements and shareholder returns while reinforcing the company’s ability to fund its strategic platform.
Listings And Platform Development Momentum
Healthy listings activity broadens the issuer base and supports recurring listing and market participation revenues over time. Delivery of CHESS Release 1 also demonstrates progress on essential platform modernisation, strengthening the infrastructure needed for future product and service expansion.
Bears Say
Higher Leverage Reduces Flexibility
The step-change in leverage reduces financial flexibility compared with ASX’s earlier balance-sheet position and increases sensitivity to funding and refinancing conditions. Higher debt can constrain capital allocation, particularly while the company is funding technology investment and meeting regulatory capital requirements.
Volatile And Recently Negative Cash Generation
Recent negative operating and free cash flow weakens the reliability of internally generated funding and makes cash returns less predictable. Although earlier periods included strong free cash flow, the wide swings create uncertainty about how consistently ASX can finance investment, dividends and other commitments.
Persistent Expense And Capital Intensity
Elevated operating costs, depreciation and multi-year capital expenditure are likely to weigh on margins and free cash flow while major technology programs continue. The investment is strategically important, but sustained spending and cost inflation raise execution demands and reduce near-term earnings conversion.
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ASX Stock Smart Score
Company Description
ASX
ASX Limited operates as a comprehensive, integrated exchange entity, managing diverse asset classes both within Australia and across global markets. The company facilitates marketplaces for various types of assets, such as shares, bonds, raw materials, and energy products. Its extensive service offerings encompass managing listings, enabling transactions, clearing and settling trades, maintaining registries, delivering technical and informational support, and a spectrum of other post-trade operations. Additionally, it provides exchange services for securities and derivatives, alongside supporting ancillary functions, and critical central counterparty clearing. ASX is further engaged in depository and settlement functions, including the delivery-versus-payment clearing of financial instruments. It also supplies valuable data and technological solutions to a range of stakeholders, including financial intermediaries, banks, data providers, and software developers. These services empower clients to make informed decisions, deliver offerings to their own customers, and foster interconnections within the financial ecosystem. Established in 1987, the firm's headquarters are located in Sydney, Australia.
- Sector
- Financial
- Industry
- Financial - Data & Stock Exchanges
- CEO
- Anthony Attia
- Employees
- 1,453
- Website
- www.asx.com.au
- Address
- 39 Martin Place, Sydney, NSW, 2000, AU
ASX (AUX) Earnings & Revenues
AUX Company Deck
AUX Earnings Call
Earnings Call SentimentNeutral
The call presented a balanced picture: strong top-line performance, cross-business revenue growth, successful delivery of key technology milestones (notably CHESS Release 1), significant listings momentum and early FY'27 market strength. Offsetting these positives are substantial and continuing expense increases (driven by technology modernisation, Accelerate remediation and licence/consultancy costs), statutory profit impacts from significant items, a credit rating downgrade and capital accumulation requirements tied to regulatory commitments. Management has set clear FY'27 guidance (higher expense and capex ranges), reset governance and outlined multi-year transformation priorities, but near-term margin and capital pressures remain material.
View all CH:AUX earnings summaries