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CMC Markets
(LSE:CMCX)
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Rating:59Neutral
Price Target:
730.00 p
â–²(0.55% Upside)
Action:Reiterated
Date:10/03/26
The score is primarily supported by strong financial foundations (low leverage and a growing equity base) and still-solid profitability, but is held back by weak technical momentum and notable cash flow volatility. Valuation is moderate, with a modest dividend yield providing limited downside support.
Positive Factors
Balance Sheet Strength
Very low leverage and a steadily expanding equity base provide meaningful financial resilience. This supports continued investment in platforms and services, reduces refinancing pressure, and gives CMC Markets greater flexibility to manage cyclical trading conditions over the next several quarters.
Negative Factors
Volatile Cash Generation
The sharp year-on-year reduction in free cash flow weakens confidence that accounting profits consistently convert into cash. If this volatility persists, it could constrain internally funded growth, shareholder distributions, or the company’s ability to absorb weaker trading conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low leverage and a steadily expanding equity base provide meaningful financial resilience. This supports continued investment in platforms and services, reduces refinancing pressure, and gives CMC Markets greater flexibility to manage cyclical trading conditions over the next several quarters.
Read all positive factors
CMC Markets (CMCX) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.95B
Dividend Yield1.97%
Average Volume (3M)489.95K
Price to Earnings (P/E)25.9
Beta (1Y)0.69
Revenue Growth16.10%
EPS Growth21.35%
CountryUK
Employees1,120
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.27
Shares Outstanding279,815,460
10 Day Avg. Volume480,629
30 Day Avg. Volume489,947
Financial Highlights & Ratios
PEG Ratio0.56
Price to Book (P/B)2.03
Price to Sales (P/S)2.26
P/FCF Ratio25.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£760.00Price Target Upside4.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.65
Revenue Forecast (FY)£524.79M
CMC Markets Business Overview & Revenue Model
Company Description
CMC Markets plc, along with its affiliated entities, delivers online financial trading solutions to a wide range of clients. These include individual investors, professional traders, stockbrokers, and institutions across the United Kingdom, Irelan...
How the Company Makes Money
CMC Markets makes money primarily from client trading activity on its platforms and related service fees. The core revenue stream is dealing/spread and trading revenue generated when clients trade CFDs and FX: CMC typically earns the bid-ask sprea...
CMC Markets Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
84
Very Positive
Cash Flow
62
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 410.95M | 360.10M | 359.75M | 322.17M | 323.85M |
| Gross Profit | 357.44M | 226.42M | 214.31M | 269.81M | 266.77M |
| EBITDA | 125.37M | 100.37M | 80.39M | 77.48M | 113.69M |
| Net Income | 74.36M | 62.19M | 46.89M | 41.44M | 71.48M |
Balance Sheet | |||||
| Total Assets | 1.01B | 731.98M | 716.86M | 586.42M | 646.81M |
| Cash, Cash Equivalents and Short-Term Investments | 392.23M | 328.22M | 211.19M | 176.79M | 191.07M |
| Total Debt | 112.73M | 14.34M | 16.91M | 11.82M | 14.25M |
| Total Liabilities | 550.69M | 314.01M | 313.37M | 212.41M | 277.93M |
| Stockholders Equity | 457.08M | 417.97M | 403.49M | 374.01M | 368.88M |
Cash Flow | |||||
| Free Cash Flow | 35.98M | 166.25M | 60.21M | 42.94M | 140.27M |
| Operating Cash Flow | 49.03M | 175.35M | 80.08M | 71.16M | 156.08M |
| Investing Cash Flow | -13.05M | -41.35M | -41.57M | -31.16M | -17.64M |
| Financing Cash Flow | -13.05M | -41.31M | -21.01M | -69.06M | -82.16M |
CMC Markets Technical Analysis
Positive
726.00
Price Trends
701.64
Negative
665.16
Positive
507.14
Positive
Market Momentum
5.09
Negative
51.67
Neutral
65.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CMCX, the sentiment is Positive. The current price of 726 is above the 20-day moving average (MA) of 684.90, above the 50-day MA of 701.64, and above the 200-day MA of 507.14, indicating a neutral trend. The MACD of 5.09 indicates Negative momentum. The RSI at 51.67 is Neutral, neither overbought nor oversold. The STOCH value of 65.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CMCX.
CMC Markets Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | £2.28B | 12.42 | 9.51% | 5.33% | 3.88% | 11.86% | |
74 Outperform | £2.40B | 11.23 | 48.99% | 5.39% | 3.14% | 4.67% | |
68 Neutral | £3.25B | 8.95 | 19.10% | 4.41% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | £1.95B | 25.89 | 16.86% | 1.97% | 16.10% | 21.35% | |
51 Neutral | £590.91M | -6.97 | -4.07% | 8.88% | -11.82% | 14.34% |
* Financial Sector Average
GB:CMCX
CMC Markets
699.00
491.42
236.74%
GB:CBG
Close Brothers Group
395.20
-40.60
-9.32%
GB:IGG
IG Group Holdings
966.50
-121.11
-11.14%
GB:PLUS
Plus500
3,410.00
338.13
11.01%
GB:TCAP
TP ICap
322.80
72.54
28.98%
CMC Markets Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
CMC Markets Executives Acquire Shares Under UK Incentive Plan
Positive
Oct 6, 2026
CMC Markets has reported share acquisitions by two senior executives under its UK Share Incentive Plan, highlighting ongoing alignment between management and shareholder interests. Head of Global Strategic Partnerships David John Fineberg acquired...
Regulatory Filings and Compliance
CMC Markets CEO Lord Cruddas Increases Stake with Share Purchase
Positive
Oct 6, 2026
CMC Markets’ chief executive officer, Lord Cruddas, has acquired additional ordinary shares in the company, according to a regulatory filing. The transactions, executed on 5 October 2026 on the London Stock Exchange, involved multiple purcha...
Regulatory Filings and Compliance
CMC Markets CEO Boosts Stake with London Share Purchase
Positive
Oct 5, 2026
CMC Markets plc has disclosed that its chief executive officer, Lord Cruddas, acquired 161,000 ordinary shares of 25 pence each in the company at a price of 623.85 pence per share. The transaction, conducted on 2 October 2026 on the London Stock E...
Business Operations and StrategyRegulatory Filings and Compliance
CMC Markets Executive Increases Stake With Share Purchase Disclosure
Positive
Oct 2, 2026
CMC Markets has disclosed a transaction by David John Fineberg, its Head of Global Strategic Partnerships, involving the acquisition of 23,300 ordinary shares in the company on 2 October 2026. The purchase, executed on the London Stock Exchange at...
Other
CMC Markets CEO Lord Cruddas Boosts Stake with Share Purchase
Positive
Oct 2, 2026
CMC Markets plc has disclosed that its chief executive officer, Lord Cruddas, acquired additional ordinary shares in the company on 2 October 2026. The transaction, executed on the London Stock Exchange, involved purchases at prices just above 604...
Regulatory Filings and Compliance
CMC Markets ANZ Head Sells 200,000 Shares in Manager Deal Notification
Neutral
Sep 9, 2026
CMC Markets has disclosed a manager transaction involving Matthew Lewis, Head of ANZ, who disposed of 200,000 ordinary shares in the company. The shares were sold on 7 September 2026 on the London Stock Exchange at a price of 770.00p per share, in...
Business Operations and Strategy
CMC Markets Executives Acquire Shares Under UK Incentive Plan
Positive
Sep 8, 2026
CMC Markets has reported share acquisitions by senior executives under its UK Share Incentive Plan, signalling continued alignment of management interests with shareholders. Head of Global Strategic Partnerships David John Fineberg acquired 38 ord...
Regulatory Filings and Compliance
CMC Markets Discloses Share Sale by Head of ANZ Matthew Lewis
Neutral
Aug 25, 2026
CMC Markets plc has disclosed share transactions by Matthew Lewis, its Head of ANZ, who has sold a total of 200,000 ordinary shares in two separate trades on the London Stock Exchange. The disposals, executed on 21 and 24 August 2026 at prices of ...
Business Operations and StrategyDividends
CMC Markets Executives Boost Holdings Through Dividend Share Plans
Positive
Aug 18, 2026
CMC Markets has disclosed a series of share acquisitions by senior executives under its Share Incentive Plan and dividend reinvestment arrangements, reflecting ongoing participation in the company’s equity-based remuneration schemes. Head of...
Executive/Board ChangesRegulatory Filings and Compliance
CMC Markets COO Reports Share Transactions Under Equity Plan
Neutral
Aug 10, 2026
CMC Markets has disclosed a management transaction involving its chief operating officer, Jonathan Bendall, under regulatory requirements for persons discharging managerial responsibilities. The notification relates to movements in the companyR...
Other
CMC Markets executives acquire shares under UK incentive plan
Neutral
Aug 6, 2026
CMC Markets has disclosed that its Head of Global Strategic Partnerships, David John Fineberg, and Chief Operating Officer, Jonathan Bendall, have each acquired ordinary shares under the company’s UK Share Incentive Plan. The transactions, e...
Regulatory Filings and Compliance
CMC Markets reports intra-family share transfer by senior executive
Neutral
Aug 5, 2026
CMC Markets has disclosed an internal share transfer involving David John Fineberg, the firm’s Head of Global Strategic Partnerships, and his spouse, Victoria Fineberg. The transaction concerns 69,982 ordinary shares of 25 pence each in CMC ...
Business Operations and StrategyExecutive/Board Changes
CMC Markets Grants Conditional Share Award to Chief Operating Officer
Neutral
Aug 5, 2026
CMC Markets plc has granted Chief Operating Officer Jonathan Bendall a conditional award of 100,000 ordinary shares under its Management Equity Plan. The award, priced at nil, was made on 3 August 2026 outside a trading venue and reflects the firm...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.