CMC Markets

CMCX · Main Market · Financial Services · mcap £1,829m · 669.0p

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Financials · balance sheet 31 Mar 26 · last twelve months · today’s market value

Source: results 04 Jun 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £1,872m
Owner’s net cash: £229.7m
Net cash / market cap: 12%
EV ex leases: £1,642m
Revenue: £418.7m
Operating profit: £103.4m
Free cash flow after leases: £32.3m
EV / EBIT: 15.9×
FCF yield: 1.7%
Price / tangible book: 4.45×
ROCE: 21%
Net income (owners): £74.4m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Guidance upgrade 01 Jul 26ahead of previous guidance3 figures since the last report

CMC Markets upgrades FY2027 net operating income guidance to at least £550 million from £460-480 million range.

FY2027 NOI guidance	at least £550m	£460m to £480m
FY2027 EBITDA guidance	£250m
FY2027 operating expenses (excluding variable remuneration)	approximately £280m

As stated by the company, unaudited. Read it →

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 04 Jun 26 · read the results ↗

Source ↗

	2026	2025
Revenue	376,756	317,611
Interest income on own funds	18,835	18,531
Income on client funds	23,076	23,957
Total revenue	418,667	360,099
Introducing partner commissions and betting levies	(25,595)	(19,982)
Interest expense	(492)	-
Net operating income	392,580	340,117
Operating expenses	(288,692)	(250,074)
Impairment of intangible assets	(534)	(482)
Operating profit	103,354	89,561
Share of results of associate	-	(189)
Reversal of impairment of investments in associate and gain on bargain purchase / (Impairment) of investments in associate	811	(2,328)
Finance costs	(2,822)	(2,590)
Profit before taxation	101,343	84,454
Taxation	(27,594)	(22,267)
Profit for the year	73,749	62,187
Profit / (loss) attributable to
Owners of CMC Markets plc	74,355	62,187
Non-controlling interests	(606)	-
Total profit / (loss) attributable to	73,749	62,187
Earnings per share
Basic earnings per share (pence)	27.5p	22.6p
Diluted earnings per share (pence)	27.5p	22.6p

Source ↗

	2026	2025
Non-current assets
Intangible assets	36,628	29,042
Property, plant and equipment	28,406	24,169
Deferred tax assets	12,229	5,328
Investments in associate	-	-
Financial investments	11,067	30,399
Trade and other receivables	2,629	1,823
Total non-current assets	90,959	90,761
Current assets
Trade and other receivables	186,946	145,842
Secured financing	3,672	-
Derivative financial instruments	30,584	24,456
Other assets	18	10
Financial investments	115,716	80,555
Amount due from brokers	287,950	140,010
Cash and cash equivalents	276,517	247,665
Current tax recoverable	14,503	2,679
Total current assets	915,906	641,217
TOTAL ASSETS	1,006,865	731,978
Current liabilities
Trade and other payables	388,869	253,581
Amounts due to brokers	8,719	12,239
Derivative financial instruments	13,854	16,160
Secured borrowings	55,667	7,457
Borrowings	46,777	-
Lease liabilities	4,152	3,109
Current tax payable	3,175	1,832
Provisions	1,008	5,282
Total current liabilities	522,221	299,660
Non-current liabilities
Trade and other payables	4	4
Lease liabilities	17,478	11,233
Deferred tax liabilities	9,602	2,765
Provisions	384	349
Total non-current liabilities	27,468	14,351
TOTAL LIABILITIES	549,689	314,011
EQUITY
Share capital	70,573	70,573
Share premium	46,236	46,236
Capital redemption reserve	2,901	2,901
Own shares held in trust	(24,400)	(17,047)
Other reserves	(54,074)	(62,176)
Retained earnings	415,842	377,480
Capital and reserves attributable to owners of CMC Markets plc	457,078	417,967
Non-controlling interests	98	-
Total equity	457,176	417,967
TOTAL EQUITY AND LIABILITIES	1,006,865	731,978

Source ↗

	2026	2025
Cash flows from operating activities
Cash generated from operations	47,052	158,433
Interest income	18,281	18,400
Income on client funds	23,392	24,581
Interest expense	(476)	-
Finance costs	(2,658)	(2,586)
Tax paid	(36,559)	(23,477)
Net cash generated from operating activities	49,032	175,351
Cash flows from investing activities
Purchase of property, plant and equipment	(3,292)	(3,028)
Investment in intangible assets	(9,760)	(6,073)
Net payments on purchase of financial investments	-	(32,252)
Net cash used in investing activities	(13,052)	(41,353)
Cash flows from financing activities
Principal elements of lease payments	(3,633)	(5,058)
Net proceeds on borrowings	46,613	-
Net (payments) / proceeds on secured borrowings	(7,457)	7,453
Proceeds from exercise of employee share options	2,411	-
Acquisition of own shares	(13,797)	(15,001)
Dividends paid	(37,185)	(28,704)
Net cash used in financing activities	(13,048)	(41,310)
Net increase in cash and cash equivalents	22,932	92,688
Cash and cash equivalents at the beginning of the year	247,665	160,300
Effect of foreign exchange rate changes	5,920	(5,323)
Cash and cash equivalents at the end of the year	276,517	247,665

Source ↗

	30 September 2025	31 March 2025	30 September 2024
Revenue	176,751	152,812	164,799
Interest income on own funds	9,342	8,995	9,536
Income on client funds	10,645	10,057	13,900
Total revenue	196,738	171,864	188,235
Introducing partner commissions and betting levies	(10,557)	(9,099)	(10,883)
Net operating income	186,181	162,765	177,352
Operating expenses	(136,011)	(126,415)	(123,659)
Impairment of intangible assets	(483)	(249)	(233)
Operating profit	49,687	36,101	53,460
Share of results of associate	-	-	(189)
Reversal of impairment of investments in associate and gain on bargain purchase / (Impairment) of investments in associate	811	-	(2,328)
Finance costs	(1,206)	(1,216)	(1,374)
Profit before taxation	49,292	34,885	49,569
Taxation	(13,568)	(7,959)	(14,308)
Profit for the period	35,724	26,926	35,261
Profit / (loss) attributable to
Owners of CMC Markets plc	35,939	26,926	35,261
Non-controlling interests	(215)	-	-
Total profit / (loss) attributable to	35,724	26,926	35,261
Earnings per share
Basic earnings per share (pence)	13.3	9.8	12.8
Diluted earnings per share (pence)	13.3	9.8	12.8

Source ↗

	£ '000	30 September 2025	31 March 2025	30 September 2024
ASSETS
Non-current assets
Intangible assets	8	32,3 32	29,042	29,113
Property, plant and equipment	9	29,1 75	24,169	25,372
Deferred tax assets	7,700	5,328	6,869	–
Financial investments	14	18,204	30,399	22,121
Trade and other receivables	10	3,306	1,823	2,637
Total non-current assets	90,7 17	90,761	86,112	–
Current assets
Trade and other receivables	2	08,857	145,842	179,523
Derivative financial instruments	12	38,848	24,456	28,781
Current tax recoverable	2,517	2,679	2,282	–
Other assets	13	32	10	6,780
Financial investments	6	5,834	80,555	86,877
Amounts due from brokers	138,263	140,010	202,675	–
Cash and cash equivalents	15	222,392	247,665	174,055
Total current assets	6	76,743	641,217	680,973
TOTAL ASSETS	7	67,460	731,978	767,085
LIABILITIES
Current liabilities
Trade and other payables	2	84,400	253,581	297,626
Amounts due to brokers	3,720	12,239	560	–
Derivative financial instruments	12	24,841	16,160	5,629
Obligations under repurchase agreements	17	-	7,457	28,923
Lease liabilities	18	3,926	3,109	3,765
Current tax payable	968	1,832	3,991	–
Provisions	19	1,200	5,282	1,844
Total current liabilities	3	19,055	299,660	342,338
Non-current liabilities
Trade and other payables	16	4	4	-
Lease liabilities	18	15,916	11,233	10,579
Deferred tax liabilities	6,581	2,765	3,178	–
Provisions	19	368	349	8
Total non-current liabilities	22,869	14,351	13,765	–
TOTAL LIABILITIES	3	41,924	314,011	356,103
EQUITY
Share capital	7	0,573	7	0,573
Share premium	4	6,236	4	6,236
Capital redemption reserve	2,901	2,901	2,901	–
Own shares held in trust	(24,364)	(17,047)	(11,149)	–
Other reserves	(59,682)	(62,176)	(56,945)	–
Retained earnings	389,3 83	377,480	359,366	–
Capital and reserves attributable to owners of CMC Markets plc	425,0 47	417,967	410,982	–
Non-controlling interests	4 89	-	-	–
Total equity	425,5 36	417,967	410,982	–
TOTAL EQUITY AND LIABILITIES	7	67,460	731,978	767,085

Source ↗

	30 September 2025	31 March 2025	30 September 2024
Cash flows from operating activities
Cash generated from operations	7,025	106,215	52,218
Interest income	8,839	9,630	8,770
Income on client funds	10,684	10,593	13,988
Finance costs	(1,210)	(1,243)	(1,343)
Tax paid	(12,623)	(11,014)	(12,463)
Net cash generated from operating activities	12,715	114,181	61,170
Cash flows from investing activities
Purchase of property, plant and equipment	(2,376)	(1,312)	(1,716)
Investment in intangible assets	(3,822)	(3,470)	(2,603)
Net receipts on disposal / (payments on purchase) of financial investments	10,854	5,297	(37,549)
Net cash generated from / (used in) investing activities	4,656	515	(41,868)
Cash flows from financing activities
Principal elements of lease payments	(1,697)	(2,348)	(2,710)
Net (payments) / proceeds on repurchase agreements	(7,453)	(21,439)	28,892
Acquisition of own shares	(13,665)	(5,955)	(9,046)
Proceeds from exercise of employee share options	2,411	-	-
Dividends paid	(22,336)	(8,528)	(20,176)
Net cash used in financing activities	(42,740)	(38,270)	(3,040)
Net (decrease) / increase in cash and cash equivalents	(25,369)	76,426	16,262
Cash and cash equivalents at the beginning of the period	247,665	174,055	160,300
Effect of foreign exchange rate changes	96	(2,816)	(2,507)
Cash and cash equivalents at the end of the period	222,392	247,665	174,055

	FY Mar 26	FY Mar 25
Insurance and banking
Net interest income	(0.5)	–
Revenue to operating profit
Revenue	418.7	360.1
EBITDA	117.8	103.4
Operating profit	103.4	89.6
Operating profit to net income
Finance costs	(2.8)	(2.6)
Profit before tax	101.3	84.5
Tax	(27.6)	(22.3)
Net income (owners)	74.4	62.2
Per share
EPS basic	27.5p	22.6p
EPS diluted	27.5p	22.6p
Dividend per share	13.8p	11.4p

	H2 Mar 26	H1 Sep 25	H1 Sep 24
Revenue to operating profit
EBITDA	60.7	57.1	60.3
Operating profit to net income
Profit before tax	52.0	49.3	49.6
Net income (owners)	38.4	35.9	–
Per share
EPS basic	14.2p	13.3p	12.8p
Dividend per share	8.3p	5.5p	3.1p

	FY Mar 26	FY Mar 25
Operating activities
Cash from operations	49.0	175.4
Interest paid	(2.7)	(2.6)
Tax paid	(36.6)	(23.5)
Investing activities
Capex (PP&E)	(3.3)	(3.0)
Capex (intangibles)	(9.8)	(6.1)
Financing activities
Lease principal paid	(3.6)	(5.1)
Dividends paid	(37.2)	(28.7)
Share buybacks	(13.8)	(15.0)
Shares issued	2.4	–

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Operating activities
Cash from operations	36.3	12.7	114.2	61.2
Tax paid	(23.9)	(12.6)	(11.0)	(12.5)
Investing activities
Capex (PP&E)	(0.9)	(2.4)	(1.3)	(1.7)
Capex (intangibles)	(5.9)	(3.8)	(3.5)	(2.6)
Financing activities
Lease principal paid	(1.9)	(1.7)	(2.3)	(2.7)
Dividends paid	(14.8)	(22.3)	(8.5)	(20.2)
Share buybacks	(0.1)	(13.7)	(6.0)	(9.0)
Shares issued	0.0	2.4	–	–

	31 Mar 26	31 Mar 25
Insurance and banking
CET1 ratio	292.0%	272.0%
Non-current assets
Other intangibles	36.6	29.0
Property, plant & equipment	28.4	24.2
Non-current assets	91.0	90.8
Current assets
Trade receivables	186.9	145.8
Cash	276.5	247.7
Current assets	915.9	641.2
Total assets	1,006.9	732.0
Current liabilities
Trade payables	388.9	253.6
Borrowings, current	46.8	–
Lease liabilities, current	4.2	3.1
Current liabilities	522.2	299.7
Non-current liabilities
Lease liabilities, non-current	17.5	11.2
Non-current liabilities	27.5	14.4
Total liabilities	549.7	314.0
Equity
Non-controlling interests	0.1	–
Total equity	457.2	418.0
Net cash and other figures
Undrawn facilities	55.0	55.0

	31 Mar 26	30 Sep 25	31 Mar 25	30 Sep 24
Insurance and banking
CET1 ratio	292.0%	–	272.0%	–
Non-current assets
Goodwill	–	32.3	–	29.1
Other intangibles	36.6	–	29.0	–
Property, plant & equipment	28.4	29.2	24.2	25.4
Non-current assets	91.0	90.7	90.8	86.1
Current assets
Trade receivables	186.9	208.9	145.8	179.5
Cash	276.5	222.4	247.7	174.1
Current assets	915.9	676.7	641.2	681.0
Total assets	1,006.9	767.5	732.0	767.1
Current liabilities
Trade payables	388.9	284.4	253.6	297.6
Borrowings, current	46.8	–	–	–
Lease liabilities, current	4.2	3.9	3.1	3.8
Current liabilities	522.2	319.1	299.7	342.3
Non-current liabilities
Lease liabilities, non-current	17.5	15.9	11.2	10.6
Non-current liabilities	27.5	22.9	14.4	13.8
Total liabilities	549.7	341.9	314.0	356.1
Equity
Non-controlling interests	0.1	0.5	–	–
Total equity	457.2	425.5	418.0	411.0
Net cash and other figures
Undrawn facilities	55.0	55.0	55.0	–

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