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IG Group Holdings
(LSE:IGG)
Select Model
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Rating:69Neutral
Price Target:
1,421.00 p
▲(4.79% Upside)
Action:Downgraded
Date:08/01/26
The score is primarily supported by strong profitability and healthy returns with generally moderate leverage, but capped by volatile cash generation (including a sharp recent free-cash-flow decline). Technicals are a notable headwind with the price below key short- and medium-term moving averages, while valuation is moderately supportive thanks to a reasonable P/E and a ~4.21% dividend yield.
Positive Factors
High Profitability
Persistently high gross and net margins indicate a structurally profitable platform business with strong operating leverage. This profitability can support investment in technology, client tools and regulatory infrastructure while providing resilience across normal changes in trading activity.
Negative Factors
Volatile Cash Generation
Material year-to-year swings in operating and free cash flow make the company’s cash conversion less predictable than its income statement suggests. The latest 56% free-cash-flow decline could constrain reinvestment and capital-return flexibility if volatility persists.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Persistently high gross and net margins indicate a structurally profitable platform business with strong operating leverage. This profitability can support investment in technology, client tools and regulatory infrastructure while providing resilience across normal changes in trading activity.
Read all positive factors
IG Group Holdings (IGG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£4.36B
Dividend Yield3.21%
Average Volume (3M)1.24M
Price to Earnings (P/E)12.4
Beta (1Y)0.64
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees2,311
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.54
Shares Outstanding332,335,720
10 Day Avg. Volume1,666,896
30 Day Avg. Volume1,244,864
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)2.37
Price to Sales (P/S)3.91
P/FCF Ratio20.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,762.00Price Target Upside29.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)1.33
Revenue Forecast (FY)£1.32B
IG Group Holdings Business Overview & Revenue Model
Company Description
IG Group Holdings plc operates globally as an online trading platform. The company's primary offerings include over-the-counter (OTC) leveraged derivatives, notably Contracts for Difference (CFDs), which allow investors to profit from asset price ...
How the Company Makes Money
IGG makes money primarily from client trading and financing economics generated on its platforms. Key revenue streams typically include: (1) Dealing/trading revenue from spreads and/or commissions: when clients trade products such as CFDs, spread ...
IG Group Holdings Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 660.70M | 1.16B | 1.10B | 1.00B | 1.04B | 994.10M |
| Gross Profit | 549.40M | 958.29M | 921.20M | 800.40M | 861.50M | 865.20M |
| EBITDA | 286.90M | 729.94M | 585.50M | 501.40M | 527.70M | 549.30M |
| Net Income | 179.20M | 500.74M | 380.40M | 307.70M | 365.00M | 396.10M |
Balance Sheet | ||||||
| Total Assets | 3.22B | 3.28B | 3.06B | 2.94B | 3.00B | 3.13B |
| Cash, Cash Equivalents and Short-Term Investments | 1.03B | 1.13B | 1.07B | 1.09B | 1.03B | 1.48B |
| Total Debt | 597.60M | 597.60M | 567.70M | 321.90M | 318.30M | 319.10M |
| Total Liabilities | 1.32B | 1.37B | 1.22B | 1.05B | 980.60M | 1.10B |
| Stockholders Equity | 1.88B | 1.92B | 1.84B | 1.89B | 2.01B | 2.03B |
Cash Flow | ||||||
| Free Cash Flow | 247.50M | 225.50M | 486.00M | 381.80M | 166.80M | 686.90M |
| Operating Cash Flow | 254.10M | 229.00M | 491.80M | 397.00M | 193.00M | 704.40M |
| Investing Cash Flow | -118.20M | -26.60M | -103.80M | 194.40M | -229.20M | -102.20M |
| Financing Cash Flow | -231.00M | -237.60M | -198.40M | -466.30M | -400.90M | -7.20M |
IG Group Holdings Technical Analysis
Negative
1356.00
Price Trends
1393.18
Negative
1590.39
Negative
1470.15
Negative
Market Momentum
-23.30
Negative
44.32
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IGG, the sentiment is Negative. The current price of 1356 is above the 20-day moving average (MA) of 1332.15, below the 50-day MA of 1393.18, and below the 200-day MA of 1470.15, indicating a bearish trend. The MACD of -23.30 indicates Negative momentum. The RSI at 44.32 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:IGG.
IG Group Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | £2.34B | 13.15 | 9.51% | 5.33% | 3.88% | 11.86% | |
74 Outperform | £2.41B | 11.24 | 48.99% | 5.31% | 3.14% | 4.67% | |
69 Neutral | £4.36B | 12.38 | 19.99% | 3.21% | ― | ― | |
69 Neutral | £1.84B | 24.74 | 16.86% | 2.07% | 16.10% | 21.35% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | £11.41B | 8.10 | 13.45% | 6.17% | -3.55% | 5.64% | |
51 Neutral | £666.11M | -7.35 | -4.07% | 8.88% | -11.82% | 14.58% |
* Financial Sector Average
GB:IGG
IG Group Holdings
1,325.00
287.88
27.76%
GB:CBG
Close Brothers Group
416.40
-83.60
-16.72%
GB:CMCX
CMC Markets
668.00
438.59
191.19%
GB:INVP
Investec
623.50
99.05
18.89%
GB:PLUS
Plus500
3,424.00
373.16
12.23%
GB:TCAP
TP ICap
342.00
82.96
32.03%
IG Group Holdings Corporate Events
DividendsRegulatory Filings and Compliance
IG Group CEO adds shares via dividend reinvestment plan
Neutral
Sep 29, 2026
IG Group Holdings is a FTSE 100 financial technology company focused on retail trading, technology and capital markets. Through brands including IG, tastytrade, Freetrade, Independent Reserve and IG Prime, it serves more than 1.4 million customers...
Regulatory Filings and Compliance
IG Group discloses director share purchase via dividend reinvestment plan
Neutral
Sep 23, 2026
IG Group Holdings disclosed that non-executive director Helen Stevenson acquired ordinary shares in the company via a dividend reinvestment plan. The transaction, involving a small purchase executed on the London Stock Exchange, was reported in li...
Business Operations and StrategyDelistings and Listing ChangesShareholder Meetings
IG Group shareholders back Jersey holding company overhaul and delisting plan
Neutral
Sep 3, 2026
IG Group Holdings shareholders have voted strongly in favour of a corporate reorganisation that will see a new Jersey-incorporated, UK tax-resident holding company, Jenkins Topco plc, inserted as the group’s ultimate parent. The change is be...
Regulatory Filings and Compliance
IG Group updates total voting rights and share capital structure
Neutral
Sep 1, 2026
IG Group Holdings has reported that as of 28 August 2026, its issued share capital comprised 361,557,868 ordinary shares, of which 29,222,153 are held in treasury, leaving 332,335,715 ordinary shares carrying voting rights. The company highlighted...
Business Operations and StrategyRegulatory Filings and Compliance
IG Group updates London registered office address
Neutral
Aug 18, 2026
IG Group Holdings plc is a FTSE 100 financial technology firm serving more than 1.4 million clients in retail trading, investments and cryptocurrency through brands including IG, tastytrade, Freetrade, Independent Reserve and IG Prime. The company...
Other
IG Group director steps up stake with £29,800 share purchase
Positive
Aug 11, 2026
IG Group Holdings disclosed that non-executive director Helen Stevenson purchased 2,197 ordinary shares in the company on 10 August 2026 at a price of £13.58 per share. The transaction, conducted on the London Stock Exchange and valued at app...
Other
IG Group director increases stake with £500,000 share purchase
Positive
Aug 11, 2026
IG Group Holdings has disclosed that non-executive director Andrew Barron purchased 36,416 ordinary shares in the company on 10 August 2026 on the London Stock Exchange. The shares were acquired at an aggregated price of £13.716701 per share,...
Business Operations and StrategyExecutive/Board Changes
IG Group Grants Dividend-Linked LTIP Options to CEO Breon Corcoran
Neutral
Aug 10, 2026
IG Group Holdings has granted a total of 2,255 dividend equivalent units in the form of nominal cost options to Chief Executive Officer Breon Corcoran under its 2023 Long Term Incentive Plan. The options, exercisable at a nominal price of 0.005 pe...
Regulatory Filings and Compliance
IG Group CFO boosts stake with £66,575 share purchase
Positive
Aug 10, 2026
IG Group Holdings, a FTSE 100 financial technology firm listed in London, operates online trading and investment platforms spanning leveraged trading, equities and cryptocurrencies. Through brands such as IG, tastytrade, Freetrade, Independent Res...
Stock BuybackRegulatory Filings and Compliance
IG Group Updates Total Voting Rights and Share Capital Structure
Neutral
Aug 3, 2026
IG Group Holdings has reported that, as of 31 July 2026, its issued share capital comprised 361,557,868 ordinary shares, of which 29,222,153 are held in treasury, leaving 332,335,715 shares carrying voting rights. This updated voting rights total ...
Business Operations and StrategyStock BuybackM&A Transactions
IG Group Scales Back Buyback as It Redirects Capital to Underdog Deal
Neutral
Aug 3, 2026
IG Group Holdings has been repurchasing its own ordinary shares, buying just over 161,000 shares between July 27 and July 30, 2026, at prices around 1,690–1,720 pence and placing them into treasury to manage its capital base. Following these...
Business Operations and StrategyStock BuybackM&A Transactions
IG Group to Buy Underdog in $1.3 Billion Push Into U.S. Prediction Markets
Positive
Jul 30, 2026
IG Group has agreed to acquire Underdog Sports Holdings Inc., a fast‑growing U.S. daily fantasy sports and prediction markets operator, in a deal worth up to about $1.3 billion, including an upfront enterprise value of roughly $1.1 billion p...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
IG Group to buy Underdog in $1.3bn push into U.S. prediction markets
Positive
Jul 30, 2026
IG Group has agreed to acquire Underdog Sports Holdings, a leading U.S. daily fantasy sports and prediction markets operator, in a deal worth up to about $1.3 billion combining cash and new shares, alongside a separate management incentive plan of...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
IG Group Delivers Double-Digit Growth and Moves on Underdog Deal to Lead U.S. Prediction Markets
Positive
Jul 30, 2026
IG Group reported an 18% rise in total revenue to £642.8 million and a 21% jump in adjusted earnings per share in the first half of 2026, driven by faster product rollout, intensified marketing and a rapidly expanding customer base. Net tradi...
Business Operations and StrategyStock Buyback
IG Group Expands Treasury Stock Through Ongoing Share Buyback
Positive
Jul 27, 2026
IG Group Holdings plc has continued its share buyback programme, purchasing 200,098 ordinary shares between 20 July and 24 July 2026 from Morgan Stanley Co. International under instructions issued earlier in the year. The shares, bought at prices...
Business Operations and StrategyRegulatory Filings and Compliance
IG Group Transfers Treasury Shares to Employee Trust for Incentive Plans
Neutral
Jul 22, 2026
IG Group Holdings has transferred 2.1 million ordinary shares from its treasury account to the IG Group Limited Employee Benefit Trust to satisfy awards under its 2023 Long Term Incentive Plan and Sustained Performance Plan. Following the move, th...
Business Operations and StrategyStock Buyback
IG Group Expands Treasury Stock Through Ongoing Share Buybacks
Positive
Jul 20, 2026
IG Group Holdings plc has continued its share buyback programme, purchasing 94,743 ordinary shares between 13 and 17 July 2026 through Morgan Stanley Co. International Plc under instructions initiated on 1 April 2026. The newly acquired shares wi...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
IG Group Issues Circular on Planned Redomiciliation to Jersey
Neutral
Jul 16, 2026
IG Group Holdings has published a circular detailing its proposal to establish a new Jersey-incorporated holding company for the group as part of a planned redomiciliation from the U.K. to Jersey. The document, sent to shareholders and made availa...
Business Operations and StrategyStock Buyback
IG Group Expands Treasury Stock With Ongoing £25m Share Buyback
Positive
Jul 13, 2026
IG Group Holdings has continued its share buyback activity, purchasing 87,192 ordinary shares between 6 and 10 July 2026 at prices ranging from 1,782p to 1,900p per share. The shares, acquired via Morgan Stanley under existing instructions, will b...
Business Operations and StrategyFinancial Disclosures
IG Group Plans New Jersey Holding Company as Revenue and Growth Outlook Strengthen
Positive
Jul 8, 2026
IG Group Holdings has announced plans to establish a new Jersey-incorporated holding company to better reflect its increasingly international revenue base and enhance financial and strategic flexibility. The shares will continue to trade in London...
Business Operations and StrategyStock Buyback
IG Group Buys Back More Shares, Lifts Treasury Holdings
Positive
Jul 6, 2026
IG Group Holdings plc has continued its share buyback programme, purchasing a total of 83,435 ordinary shares between 29 June and 3 July 2026 from Morgan Stanley Co. International Plc under instructions issued on 1 April 2026. The shares, bought ...
Regulatory Filings and Compliance
IG Group Updates Total Voting Rights and Share Capital Structure
Neutral
Jul 1, 2026
IG Group Holdings has reported that as of 30 June 2026 its issued share capital comprised 361,557,868 ordinary shares, with 30,728,259 held in treasury, leaving 330,829,609 shares carrying voting rights. The company highlighted that this total vot...
Business Operations and StrategyStock Buyback
IG Group Expands Treasury Stock with Fresh £21.9m Buybacks
Positive
Jun 29, 2026
IG Group Holdings has continued its share buyback programme, repurchasing 78,628 ordinary shares between 22 June and 26 June 2026 from Morgan Stanley Co. International under instructions issued earlier this year. The company paid volume-weighted ...
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.