company background image
ASX

ASXASX:ASX Stock Report

Market Cap

AU$15.9b

7D

0.9%

1Y

-0.3%

Updated

26 Oct, 2021

Data

Company Financials +
ASX fundamental analysis
Snowflake Score
Valuation0/6
Future Growth1/6
Past Performance3/6
Financial Health6/6
Dividends4/6

ASX Overview

ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally.

ASX Competitors

Commonwealth Bank of Australia

ASX:CBA

AU$179.2b

Hong Kong Exchanges and Clearing

SEHK:388

HK$609.6b

CME Group

NasdaqGS:CME

US$78.2b

National Australia Bank

ASX:NAB

AU$94.7b

Price History & Performance

Summary of all time highs, changes and price drops for ASX
Historical stock prices
Current Share PriceAU$82.17
52 Week HighAU$65.60
52 Week LowAU$88.75
Beta0.20
1 Month Change-1.90%
3 Month Change6.11%
1 Year Change-0.28%
3 Year Change38.87%
5 Year Change81.27%
Change since IPO1,833.41%

Recent News & Updates

Sep 22
Here's Why Shareholders May Consider Paying ASX Limited's (ASX:ASX) CEO A Little More

Here's Why Shareholders May Consider Paying ASX Limited's (ASX:ASX) CEO A Little More

Shareholders will probably not be disappointed by the robust results at ASX Limited ( ASX:ASX ) recently and they will...

Aug 21
ASX (ASX:ASX) Is Reducing Its Dividend To AU$1.11

ASX (ASX:ASX) Is Reducing Its Dividend To AU$1.11

ASX Limited's ( ASX:ASX ) dividend is being reduced to AU$1.11 on the 29th of September. The dividend yield will be in...

May 07
Is ASX Limited (ASX:ASX) A Smart Choice For Dividend Investors?

Is ASX Limited (ASX:ASX) A Smart Choice For Dividend Investors?

Is ASX Limited ( ASX:ASX ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...

Shareholder Returns

ASXAU Capital MarketsAU Market
7D0.9%2.3%0.8%
1Y-0.3%29.1%24.4%

Return vs Industry: ASX underperformed the Australian Capital Markets industry which returned 29.1% over the past year.

Return vs Market: ASX underperformed the Australian Market which returned 24.4% over the past year.

Price Volatility

Is ASX's price volatile compared to industry and market?
ASX volatility
ASX Beta0.20
Industry Beta0.99
Market Beta1

Stable Share Price: ASX is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: ASX's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1987748Dominic Stevenshttps://www2.asx.com.au

ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally. The company provides listings, trading, clearing, settlement, technical and information services, and other post-trade services; securities and derivatives exchange, and ancillary services; and central counterparty clearing services. It also operates markets for a range of asset classes, including equities, fixed income, commodities, and energy; provides data and technology services to intermediaries, banks, information vendors, and software developers to enable them to make decisions, offer services to their clients, and connect with one another; and is involved in the registry, depository, and settlement activities, as well as delivery-versus-payment clearing of financial products.

ASX Fundamentals Summary

How do ASX's earnings and revenue compare to its market cap?
ASX fundamental statistics
Market CapAU$15.91b
Earnings (TTM)AU$480.90m
Revenue (TTM)AU$1.02b

33.1x

P/E Ratio

15.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ASX income statement (TTM)
RevenueAU$1.02b
Cost of RevenueAU$45.40m
Gross ProfitAU$971.70m
ExpensesAU$490.80m
EarningsAU$480.90m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Feb 10, 2022

Earnings per share (EPS)2.48
Gross Margin95.54%
Net Profit Margin47.28%
Debt/Equity Ratio0%

How did ASX perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

90%

Payout Ratio

Valuation

Is ASX undervalued compared to its fair value and its price relative to the market?

33.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ASX (A$82.17) is trading above our estimate of fair value (A$57.26)

Significantly Below Fair Value: ASX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ASX is poor value based on its PE Ratio (33.1x) compared to the Australian Capital Markets industry average (16.7x).

PE vs Market: ASX is poor value based on its PE Ratio (33.1x) compared to the Australian market (20x).


Price to Earnings Growth Ratio

PEG Ratio: ASX is poor value based on its PEG Ratio (8.9x)


Price to Book Ratio

PB vs Industry: ASX is overvalued based on its PB Ratio (4.3x) compared to the AU Capital Markets industry average (1.4x).


Future Growth

How is ASX forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

3.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASX's forecast earnings growth (3.7% per year) is above the savings rate (1.9%).

Earnings vs Market: ASX's earnings (3.7% per year) are forecast to grow slower than the Australian market (12.4% per year).

High Growth Earnings: ASX's earnings are forecast to grow, but not significantly.

Revenue vs Market: ASX's revenue (2.2% per year) is forecast to grow slower than the Australian market (5.3% per year).

High Growth Revenue: ASX's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASX's Return on Equity is forecast to be low in 3 years time (13.7%).


Past Performance

How has ASX performed over the past 5 years?

3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ASX has high quality earnings.

Growing Profit Margin: ASX's current net profit margins (47.3%) are higher than last year (45.5%).


Past Earnings Growth Analysis

Earnings Trend: ASX's earnings have grown by 3.4% per year over the past 5 years.

Accelerating Growth: ASX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ASX had negative earnings growth (-3.6%) over the past year, making it difficult to compare to the Capital Markets industry average (12.8%).


Return on Equity

High ROE: ASX's Return on Equity (12.9%) is considered low.


Financial Health

How is ASX's financial position?


Financial Position Analysis

Short Term Liabilities: ASX's short term assets (A$13.8B) exceed its short term liabilities (A$12.5B).

Long Term Liabilities: ASX's short term assets (A$13.8B) exceed its long term liabilities (A$353.5M).


Debt to Equity History and Analysis

Debt Level: ASX is debt free.

Reducing Debt: ASX had no debt 5 years ago.

Debt Coverage: ASX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ASX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is ASX current dividend yield, its reliability and sustainability?

2.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ASX's dividend (2.72%) is higher than the bottom 25% of dividend payers in the Australian market (2.23%).

High Dividend: ASX's dividend (2.72%) is low compared to the top 25% of dividend payers in the Australian market (5.32%).


Stability and Growth of Payments

Stable Dividend: ASX's dividends per share have been stable in the past 10 years.

Growing Dividend: ASX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90%), ASX's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASX's dividends in 3 years are forecast to be covered by earnings (90% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Dominic Stevens

5.17yrs

Tenure

AU$4,307,583

Compensation

Mr. Dominic John Stevens, BCom (Hons) has been the Chief Executive Officer and Managing Director of ASX Limited and Australian Securities Exchange Limited since August 1, 2016. Mr. Stevens has been an Exec...


CEO Compensation Analysis

Compensation vs Market: Dominic's total compensation ($USD3.23M) is about average for companies of similar size in the Australian market ($USD3.64M).

Compensation vs Earnings: Dominic's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ASX's management team is considered experienced (4.6 years average tenure).


Board Members

Experienced Board: ASX's board of directors are considered experienced (6.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ASX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ASX Limited's employee growth, exchange listings and data sources


Key Information

  • Name: ASX Limited
  • Ticker: ASX
  • Exchange: ASX
  • Founded: 1987
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Market Cap: AU$15.908b
  • Shares outstanding: 193.59m
  • Website: https://www2.asx.com.au

Number of Employees


Location

  • ASX Limited
  • Exchange Centre
  • 20 Bridge Street
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 16:13
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.