CMC Markets CMCX.L
United KingdomFinancial Services · Capital MarketsLondon Stock Exchange · GBP
7.80 GBP (+17.8%)
3 analysts
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CMC Markets is an online broker offering CFD and spread betting trading services to retail and institutional clients, generating revenue from commissions, spreads, and financing.
Listed on London Stock Exchange · Symbol CMCX.L · LON: CMCX · Currency GBP
Key points
from its scores- ✓Good share-price trend9.8
- ✓Strong growth8.9
- ✓Favourable backdrop8.1
- ✕Demanding valuation2.8
AI analysis
bottom line, main risk, context and newsHold, given strong growth and solid profitability, but the demanding valuation limits upside potential in the short term.
CMC Markets presents solid financial health (ROE 16.85%, ROA 8.48%) and notable growth (revenue +26.40%, earnings +45.00%), with high operating margins (24.40%). However, its valuation is demanding (P/E 23.64, P/B adjusted 2.32), suggesting the market already discounts much of the good prospects. Momentum is very strong (234.23), but the sustainability of this growth will depend on trading market activity.
The main risk is the dependence on retail trading activity, which is highly volatile and sensitive to regulatory changes in the CFD sector, especially in the UK and Europe.
Context and risks
CMC Markets operates as a CFD and spread betting broker, a business model that depends on retail trading activity and financial regulation. Its UK domicile implies FCA supervision, with a strict and evolving regulatory framework for the online trading sector, adding compliance risk and potential product restrictions. High market volatility, although positive for trading volumes, also carries a risk of regulatory scrutiny over retail investor protection.
Is CMC Markets stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 92% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 23.6 | 13.7 | +72% |
| Price / book | 3.9 | 1.9 | +111% |
| Price / sales | 4.6 | 3.5 | +33% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.8 out of 10 (median for Financial Services: 5.2).
Average analyst target: 7.80 GBP, +17.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 7.5 (sector 8.8), Growth 8.9 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 23.6
- Forward P/E
- 10.1
- Price / book
- 3.9
- Price / sales
- 4.6
- PEG
- 0.29
- Market cap
- 1.8B GBP
- Enterprise value
- 1.6B GBP
Profitability
- ROE
- 16.9%
- ROA
- 8.5%
- ROIC (approx.)
- 16.0%
- Gross margin
- 99.2%
- Operating margin
- 24.4%
- Net margin
- 19.1%
Solvency
- Total debt
- 137.9M GBP
- Net debt
- −172.8M GBP
- Cash
- 310.8M GBP
- Debt / equity
- 30.17
- Current ratio
- 1.53
- Quick ratio
- 1.49
Growth
- Revenue growth
- +26.4%
- Earnings growth
- +45.0%
- EPS (TTM)
- 0.28 GBP
- EPS (forward)
- 0.66 GBP
Dividend
- Dividend yield
- 2.1%
- Payout
- 50.2%
Risk and market
- Beta
- 0.54
- Analyst consensus
- none (3)
- Target price
- 7.80 GBP
Recent news
All CMCX.L news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about CMC Markets
Is CMC Markets stock cheap or expensive?
On P/E and Price / book, it trades 92% above the Financial Services median on average. Valuation score: 2.8 out of 10 (median for Financial Services: 5.2). Average analyst target: 7.80 GBP, +17.8% versus the price. This is not investment advice.
What score does CMC Markets get on MeridIAn Screener?
It scores 6.5 out of 10, rank 513 of 2,130 (better than 72% of the companies analysed). Its strongest category is Momentum (9.8) and its weakest, Valuation (2.8). Analysis of 08/10/2026.
What is CMC Markets's P/E ratio?
Its P/E is 23.6: the share price equals 23.6 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 10.1.
How much is CMC Markets worth on the stock market?
Its market capitalisation is 1.8B GBP.
Does CMC Markets pay a dividend?
Yes: its dividend yield is 2.11% and it pays out 50% of its earnings.
How has CMC Markets stock performed over the last year?
It has risen 198.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 0.00 and 7.87 GBP. Past performance does not guarantee future results.
What do analysts think of CMC Markets?
3 analysts cover it; their average recommendation is “none” and their average target is 7.80 GBP (+17.8% versus the price). It is an estimate, not market data.