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CMCX: Expanded Partnerships And Dividend Increase Will Support Stronger Outlook

Digital Adoption And DeFi Will Expand Global Trading Markets

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CMCX
AnalystHighTarget
Not Invested
Published 12 Jul 2025

Update shared on 14 Dec 2025

Fair value Increased 5.26%
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AnalystHighTarget's Fair Value
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1Y
8.2%
7D
-1.4%

Analysts have modestly raised their price target on CMC Markets to reflect improved expectations for revenue growth, higher profit margins, and a lower future price to earnings multiple. Their assessed fair value has been lifted from £3.80 to £4.00 per share.

What's in the News

  • CMC Markets Plc declared an increased interim dividend of 5.5 pence per share for the half year ended 30 September 2025, payable on 8 January 2026, with a Dividend Reinvestment Plan option available to shareholders (company announcement)
  • CMC Markets Stockbroking was selected as preferred vendor by Westpac Banking Corporation, extending their long term technology and platform relationship across Westpac Share Trading and St.George Directshares. Integration is expected over approximately 12 months, with a meaningful uplift in Australian CMC Invest revenue and client volumes (company announcement)
  • Paysafe entered a new partnership with CMC Markets, adding Skrill and Neteller as CMC's first digital wallets and alternative payment methods across the EEA, parts of Asia, the Middle East and other markets. There are plans to expand into Latin America and add further Paysafe payment options (company announcement)

Valuation Changes

  • Fair Value: risen modestly from £3.80 to £4.00 per share, reflecting improved growth and profitability assumptions
  • Discount Rate: increased slightly from 8.39% to 8.48%, implying a marginally higher required return
  • Revenue Growth: raised significantly from 4.30% to 10.24%, indicating a much stronger medium term top line outlook
  • Net Profit Margin: upgraded meaningfully from 17.97% to 23.86%, reflecting expectations of better operating leverage
  • Future P/E: reduced substantially from 18.4x to 12.2x, implying a lower valuation multiple applied to future earnings

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Disclaimer

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