London Stock Exchange Group PLC (LSEG) Fair Value & Analysis
Financial Services · GB · Market cap 44.0B GBX · ISIN GB00B0SWJX34
What is London Stock Exchange Group PLC really worth?
A solid business, but trading 156% above our fair value of £34.54.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 13 valuation models · updated today
Share price +2.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (£41.68). The favourable scenario is already priced in.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range £59.78 – £118.06 · fair‑value band £32.95 – £41.68 · the £88.30 price screens above the £34.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
London Stock Exchange Group PLC (LSEG) currently trades at £88.30, while our model-based Fair Value estimate is £34.54, implying the stock looks roughly 155.6% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of £95.25 per share, and 4 of the 13 models we run sit above the £88.30 price. Bear case: the Dividend Discount group reads lowest at £23.74, and 9 of the 13 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, London Stock Exchange Group PLC generated revenue of £9.3B at a net margin of 13.4%. Revenue grew 4.6% year over year. It earns a return on equity of 6.4%. Net debt stands at £7.8B. Fundamentals as of Sep 5, 2026
Our scenario range runs from £32.95 (bear case) to £41.68 (bull case); at £88.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Financial Services peers we cover trades at −55% fair-value upside, at −61%, LSEG screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly £0.5911 per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 13 models by family
Widest divergence: DCF Models (£95.25) versus Dividend Discount (£23.74). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 52
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
London Stock Exchange Group plc provides financial markets infrastructure and data products in the United Kingdom, the United States, Europe, Asia, and internationally. The company operates through four segments: Data & Analytics, FTSE Russell, Risk Intelligence, and Markets.
Full company description
London Stock Exchange Group plc provides financial markets infrastructure and data products in the United Kingdom, the United States, Europe, Asia, and internationally. The company operates through four segments: Data & Analytics, FTSE Russell, Risk Intelligence, and Markets. It offers data, analytics, and AI tools through an open and interoperable architecture; real-time data and news, text, reference, and legal entity information; and cross-asset models and analytics solutions, such as Yield Book fixed income, Lipper fund performance, private credit analytics, and StarMine sentiment analysis. The company also provides index and benchmark solutions; risk intelligence solutions to meet Know Your Customer and Know Your Third Party obligations, perform due diligence, and mitigate identity and payment fraud risks; World-Check Verify, a cloud-native screening API; and World-Check On Demand for continuously updated sanctions, politically exposed persons, adverse media, and enforcement data. In addition, it offers access to various liquidity pools in multiple asset classes comprising equities, fixed income, exchange-traded funds and products, and foreign exchange; capital formation and execution venues consisting of London Stock Exchange, AIM, Turquoise, FXall, FX Matching, and Tradeweb; and clearing and capital optimization solutions for interest rate swap, foreign exchange, and credit default swap OTC derivatives. Further, the company provides securities clearing, capital optimization, and regulatory reporting solutions; software licenses; network connections; hosting services; clearing, settlement, and other post trade services; and events and media services. London Stock Exchange Group plc was founded in 1698 and is based in London, the United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
London Stock Exchange Group PLC reported revenue of £9.3B in FY2025 versus £6.5B in FY2021, a compound +9.3%/yr. Reported net income was £1.2B in FY2025, compounding +28.3%/yr from FY2021.
of which total revenue +22.5 % · buybacks/dilution +0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LSEG screens 156% overvalued. Compare with S&P Global Inc →
Peer Group
Financial Data & Stock Exchanges · 53 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Financial Data & Stock Exchanges median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| S&P Global Inc SPGI | $435.39 | $196.36 | −55% |
| CME Group CME | $285.80 | $145.51 | −49% |
| Moody's Corporation MCO | $514.95 | $192.63 | −63% |
| Intercontinental Exchange, Inc ICE | $162.33 | $75.95 | −53% |
| Hong Kong Exchanges and Clearing Limited 80388 | HK$360.20 | HK$280.07 | −22% |
| Deutsche Börse AG DB1 | €291.20 | €142.42 | −51% |
| Nasdaq, Inc NDAQ | $99.35 | $41.12 | −59% |
| MSCI Inc MSCI | $570.76 | $214.91 | −62% |
| Coinbase Global, Inc COIN | $190.72 | $73.66 | −61% |
| Cboe Global Markets, Inc CBOE | $310.45 | $136.64 | −56% |
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