TMX Group revenue jumps 17% to C$491.1 million in third quarter

Key Facts

TMX Group reported results on October 29, 2026, for the third quarter ended September 30, posting revenue of C$491.1 million. The company said revenue increased C$72.5 million, or 17%, from C$418.6 million in the third quarter of 2025. The group issued the announcement in a statement from Toronto; it operates the Toronto Stock Exchange and provides market-related and financial data services. Chief Executive John McKenzie said the group delivered "another strong quarter," citing 17% growth in total revenue and a 21% increase in adjusted diluted earnings per share compared with the same period a year earlier. The published results do not include analyst estimates that would allow confirmation that revenue exceeded market expectations.

Part of the increase came from data businesses: revenue at TMX Datalinx rose 31% year over year, while TMX VettaFi revenue increased 46%. The company’s results identify these rates among the leading growth drivers, alongside the overall rise in revenue. The difference between the growth rates shows that expansion was not uniform across the data units highlighted in the statement. The available excerpt did not provide base revenue figures for Datalinx or VettaFi, so it does not show how much each unit contributed in dollars to total quarterly revenue. Still, overall revenue increased alongside growth in both businesses, according to the figures reported by the group.

Acquisitions also contributed to the results. TMX said quarterly revenue included C$26.4 million in additional revenue related to acquisition deals. The company named Verity, nuclear-sector indices, TMX Australia Exchange and RAFI Indices among the businesses associated with that contribution. The amount represents part of the quarter’s C$491.1 million in revenue, while the available statement did not break it down by company or business. The disclosure distinguishes acquisition-related revenue from the group’s other sources of growth, but the figures provided do not specify the remaining growth after excluding the impact of the deals. Overall, quarterly revenue rose C$72.5 million year over year.

On earnings, McKenzie said adjusted diluted earnings per share rose 21% from the third quarter of 2025. But net income attributable to TMX shareholders declined, which the company attributed to higher financing costs. The prior-year comparison also included a net foreign-exchange gain of C$18.6 million on intercompany loans denominated in U.S. dollars in the third quarter of 2025, while the third quarter of 2026 recorded a C$12.6 million fair-value loss on foreign-exchange forward contracts. These items show the differing foreign-exchange effects in the two periods, alongside the financing costs the company said weighed on net income. The two measures therefore moved in opposite directions: adjusted earnings per share rose, while net income attributable to shareholders fell.

TMX announced on October 8, 2026, that it would release third-quarter results on the evening of October 29, and also set an analyst call for October 30. The results were released on schedule for the period ended September 30. The subsequent call provides an opportunity to discuss the results with analysts, according to the company’s announced schedule, after publication of the quarterly figures and revenue and earnings disclosures. The published information focuses on revenue growth and contributions from data businesses and acquisitions, as well as the divergence between adjusted earnings per share and net income. The available material did not include details on the share’s movement after the announcement.