| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 1/6 |
| Past Performance | 3/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
ASX Stock Overview
ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally.
ASX Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | AU$82.42 |
| 52 Week High | AU$95.83 |
| 52 Week Low | AU$71.22 |
| Beta | 0.18 |
| 1 Month Change | 1.50% |
| 3 Month Change | -0.33% |
| 1 Year Change | 9.17% |
| 3 Year Change | -4.62% |
| 5 Year Change | 56.45% |
| Change since IPO | 1,839.29% |
Recent News & Updates
Shareholder Returns
| ASX | AU Capital Markets | AU Market | |
|---|---|---|---|
| 7D | 0.5% | -0.9% | -2.1% |
| 1Y | 9.2% | -8.8% | -10.5% |
Return vs Industry: ASX exceeded the Australian Capital Markets industry which returned -10.5% over the past year.
Return vs Market: ASX exceeded the Australian Market which returned -12% over the past year.
Price Volatility
| ASX volatility | |
|---|---|
| ASX Average Weekly Movement | 2.9% |
| Capital Markets Industry Average Movement | 5.6% |
| Market Average Movement | 10.0% |
| 10% most volatile stocks in AU Market | 16.7% |
| 10% least volatile stocks in AU Market | 4.5% |
Stable Share Price: ASX is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ASX's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1987 | 749 | Dominic Stevens | https://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
| ASX fundamental statistics | |
|---|---|
| Market Cap | AU$15.95b |
| Earnings (TTM) | AU$489.40m |
| Revenue (TTM) | AU$1.04b |
32.6x
P/E Ratio15.4x
P/S RatioIs ASX overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ASX income statement (TTM) | |
|---|---|
| Revenue | AU$1.04b |
| Cost of Revenue | AU$48.10m |
| Gross Profit | AU$989.70m |
| Other Expenses | AU$500.30m |
| Earnings | AU$489.40m |
Last Reported Earnings
Dec 31, 2021
Next Earnings Date
Aug 18, 2022
| Earnings per share (EPS) | 2.53 |
| Gross Margin | 95.37% |
| Net Profit Margin | 47.16% |
| Debt/Equity Ratio | 0% |
How did ASX perform over the long term?
See historical performance and comparisonDividends
2.8%
Current Dividend Yield90%
Payout RatioValuation
Is ASX undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
1/6Valuation Score 1/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for ASX?
Other financial metrics that can be useful for relative valuation.
| What is ASX's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | AU$15.95b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 8.4x |
| Enterprise Value/EBITDA | 11.9x |
| PEG Ratio | 6.9x |
Price to Earnings Ratio vs Peers
How does ASX's PE Ratio compare to its peers?
| ASX PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 33.8x | ||
AFI Australian Foundation Investment | 31.6x | n/a | AU$9.4b |
ARG Argo Investments | 28.5x | n/a | AU$6.7b |
GQG GQG Partners | 61.7x | 21.3% | AU$4.2b |
MQG Macquarie Group | 13.6x | 3.0% | AU$62.1b |
ASX ASX | 32.6x | 4.8% | AU$16.0b |
Price-To-Earnings vs Peers: ASX is good value based on its Price-To-Earnings Ratio (32.6x) compared to the peer average (33.8x).
Price to Earnings Ratio vs Industry
How does ASX's PE Ratio compare vs other companies in the AU Capital Markets Industry?
Price-To-Earnings vs Industry: ASX is expensive based on its Price-To-Earnings Ratio (32.6x) compared to the Australian Capital Markets industry average (13.7x)
Price to Earnings Ratio vs Fair Ratio
What is ASX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 32.6x |
| Fair PE Ratio | 20.2x |
Price-To-Earnings vs Fair Ratio: ASX is expensive based on its Price-To-Earnings Ratio (32.6x) compared to the estimated Fair Price-To-Earnings Ratio (20.2x).
Share Price vs Fair Value
What is the Fair Price of ASX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: ASX (A$82.42) is trading above our estimate of fair value (A$66.73)
Significantly Below Fair Value: ASX is trading above our estimate of fair value.
Price to Earnings Growth Ratio
PEG Ratio: ASX is poor value based on its PEG Ratio (6.9x)
Discover undervalued companies
Future Growth
How is ASX forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
Future Growth Score
1/6Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
4.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ASX's forecast earnings growth (4.8% per year) is above the savings rate (1.8%).
Earnings vs Market: ASX's earnings (4.8% per year) are forecast to grow slower than the Australian market (5.6% per year).
High Growth Earnings: ASX's earnings are forecast to grow, but not significantly.
Revenue vs Market: ASX's revenue (3.9% per year) is forecast to grow slower than the Australian market (5.1% per year).
High Growth Revenue: ASX's revenue (3.9% 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 (14.4%).
Discover growth companies
Past Performance
How has ASX performed over the past 5 years?
Past Performance Score
3/6Past Performance Score 3/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
2.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ASX has high quality earnings.
Growing Profit Margin: ASX's current net profit margins (47.2%) are higher than last year (46.4%).
Past Earnings Growth Analysis
Earnings Trend: ASX's earnings have grown by 2.9% 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 (-0.1%) over the past year, making it difficult to compare to the Capital Markets industry average (42.7%).
Return on Equity
High ROE: ASX's Return on Equity (13%) is considered low.
Discover strong past performing companies
Financial Health
How is ASX's financial position?
Financial Health Score
6/6Financial Health Score 6/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: ASX's short term assets (A$13.8B) exceed its short term liabilities (A$12.6B).
Long Term Liabilities: ASX's short term assets (A$13.8B) exceed its long term liabilities (A$373.3M).
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
Discover healthy companies
Dividend
What is ASX current dividend yield, its reliability and sustainability?
Dividend Score
4/6Dividend Score 4/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
2.76%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ASX's dividend (2.76%) is higher than the bottom 25% of dividend payers in the Australian market (2.75%).
High Dividend: ASX's dividend (2.76%) is low compared to the top 25% of dividend payers in the Australian market (6.87%).
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.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (90%), ASX's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its low cash payout ratio (8.6%), ASX's dividend payments are thoroughly covered by cash flows.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
5.3yrs
Average management tenure
CEO
Dominic Stevens
5.92yrs
Tenure
AU$4,307,583
Compensation
Mr. Dominic John Stevens, BCom (Hons) has been the Chief Executive Officer and Managing Director of ASX Limited and Australian Securities Exchange Limited since August 1, 2016. Mr. Stevens has been an Exec...
CEO Compensation Analysis
Compensation vs Market: Dominic's total compensation ($USD2.92M) is about average for companies of similar size in the Australian market ($USD3.97M).
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 seasoned and experienced (5.3 years average tenure).
Board Members
Experienced Board: ASX's board of directors are considered experienced (7.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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
- Implied Market Cap: AU$15.955b
- Shares outstanding: 193.58m
- 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/07/04 00:00 |
| End of Day Share Price | 2022/07/04 00:00 |
| Earnings | 2021/12/31 |
| Annual Earnings | 2021/06/30 |
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.