# CMC Markets Plc (CMCX.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Capital Markets. Price 765p, market value 2.1 billionp.

## Valuation
- **P/E (trailing): 28.3×** (5-yr avg 1126.6×, 3-yr avg 1134.7×). CMC Markets Plc trades at 28.3× trailing earnings, well below its own five-year average of 1126.6×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 11.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.54**. A PEG of 0.54 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.7×**. Each dollar of revenue is priced at 2.7×.
- **Price / book: 4.5×**. The shares trade at 4.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 7.7×**. Enterprise value is 7.7× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 12.0%** (5-yr avg 0.1%). Free cash flow equals 12.0% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 3.5%**. The inverse of the P/E: 3.5% of the price is earned each year.

## Profitability
- **Gross margin: 89.9%**. CMC Markets Plc keeps 89.9% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 26.9%**. 26.9% of revenue is left after running the business, an exceptional level.
- **Net margin: 18.1%**. 18.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 16.3%**. 16.3% on shareholders' equity is solid.
- **Return on invested capital: 83.8%**. Return on all capital, debt included, is 83.8%: comfortably above what that capital costs.
- **Return on assets: 13.6%**. Each dollar of assets produces 13.6% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 14.1%** (3-yr 8.5%/yr, 5-yr -2.0%/yr). Revenue grew 14.1% over the last year, against -2.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 21.7%** (3-yr 23.1%/yr, 5-yr -14.4%/yr). Earnings per share rose 21.7%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -5.7%/yr**. Free cash flow has compounded at -5.7% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: 392 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 1.76%** (0p per share, trailing). CMC Markets Plc yields 1.76%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 50%** (27% of free cash flow). 50% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): -8.4%/yr** (1-yr 32.7%). The dividend has not grown over five years.
- **Shareholder yield: 3.0%**. Dividends plus net buybacks return 3.0% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (3 analysts). 3 analysts cover CMC Markets Plc; the consensus is strong_buy, with an average price target of 780p (+2% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 242.7%** (YTD 156.1%, 3-mo 64.7%). The shares are up 242.7% over twelve months including dividends.
- **From 52-week high: -2.8%** (276.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 66**. An RSI of 66 is neutral.
- **Beta (1 yr): 0.59** (volatility 60%). Beta of 0.59 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CMCX.L · Page: https://foliofundamentals.com/stocks/cmcx.l

Not investment advice.