London Stock Exchange Group (FRA:LS4C) EBIT: €2,659 Mil (TTM As of Dec. 2025)


FRA:LS4C London Stock Exchange Group PLC FRA:LS4C
88 GF Score
Price €98.78
GF Value €128.07
Valuation Modestly Undervalued
! 5 Warning Signs
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What is London Stock Exchange Group EBIT?

London Stock Exchange Group FRA:LS4C +1.13% 88 EBIT is €2,659 Mil as of Dec. 2025. GuruFocus rates FRA:LS4C with a GF Score™ of 88/100 and a GF Value™ of €128.07 (Modestly Undervalued). The stock has 5 warning signs investors should review.

London Stock Exchange Group's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was €1,315 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was €2,659 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. London Stock Exchange Group's annualized ROC % for the quarter that ended in Dec. 2025 was 0.23%. London Stock Exchange Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 357.23%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. London Stock Exchange Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 4.42%.


London Stock Exchange Group  (FRA:LS4C) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

London Stock Exchange Group's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=2505.982 * ( 1 - 23.82% )/( (840094.766 + 800894.232)/ 2 )
=1909.0570876/820494.499
=0.23 %

where

Invested Capital(Q: Jun. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=954606.997 - 113131.148 - ( 4310.296 - max(0, 915553.176 - 916934.259+4310.296))
=840094.766

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=910823.582 - 109866.471 - ( 3305.106 - max(0, 872880.602 - 872943.481+3305.106))
=800894.232

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

London Stock Exchange Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2629.452/( ( (677.601 + max(-8907.6310000002, 0)) + (794.552 + max(-4841.6189999999, 0)) )/ 2 )
=2629.452/( ( 677.601 + 794.552 )/ 2 )
=2629.452/736.0765
=357.23 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2676.289 + 0 + 901054.16) - (113131.148 + 0 + 799506.932)
=-8907.6310000002

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1511.363 + 0 + 862726.348) - (109866.471 + 0 + 759212.859)
=-4841.6189999999

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

London Stock Exchange Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=2659.341/60233.354
=4.42 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


London Stock Exchange Group EBIT Related Terms


London Stock Exchange Group EBIT Historical Data

* Premium members only.

The historical data trend for London Stock Exchange Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

London Stock Exchange Group EBIT Chart

London Stock Exchange Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,285.13 1,631.59 1,716.76 1,928.11 2,621.45

London Stock Exchange Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 821.82 1,054.29 851.17 1,344.62 1,314.73

FRA:LS4C vs SPGI, CME, ICE: EBIT Comparison

For the Financial Data & Stock Exchanges subindustry, London Stock Exchange Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


London Stock Exchange Group EV-to-EBIT vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, London Stock Exchange Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where London Stock Exchange Group's EV-to-EBIT falls into.


FRA:LS4C
88GF Score
London Stock Exchange Group PLC FRA:LS4C
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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London Stock Exchange Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €2,659 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €2,659 Mil mean?
London Stock Exchange Group (FRA:LS4C) has a EBIT of €2,659 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on London Stock Exchange Group.
Is London Stock Exchange Group's EBIT too high?
London Stock Exchange Group's current EBIT is €2,659 Mil. Overall, London Stock Exchange Group has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does London Stock Exchange Group's EBIT compare to SPGI and CME?
London Stock Exchange Group's EBIT of €2,659 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Capital Markets company?
A good EBIT depends on the Capital Markets industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on London Stock Exchange Group. London Stock Exchange Group's current EBIT is €2,659 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is London Stock Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, London Stock Exchange Group (FRA:LS4C) is currently considered Modestly Undervalued. The stock's GF Value™ is €128.07, compared to a current price of €98.78 — trading 22.9% below its estimated fair value. The current EBIT is €2,659 Mil. London Stock Exchange Group's overall GF Score™ is 88/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For London Stock Exchange Group (FRA:LS4C), the current EBIT is €2,659 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is London Stock Exchange Group (FRA:LS4C) Overvalued in 2026?

Based on GuruFocus' analysis, London Stock Exchange Group stock appears to be undervalued. The current stock price of €98.78 is trading 22.9% below its estimated GF Value™ of €128.07. GuruFocus considers London Stock Exchange Group to be Modestly Undervalued.

Key valuation signals for FRA:LS4C:

  • EBIT: €2,659 Mil
  • GF Value™: €128.07 vs. price of €98.78 (22.9% below fair value)
  • GF Score™: 88/100 with 5 warning signs

No single metric tells the full story. See the FRA:LS4C stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


London Stock Exchange Group Business Description

Address 10 Paternoster Square, London, GBR, EC4M 7LS
London Stock Exchange Group is a fully integrated financial exchange company covering the financial market value chain from primary and secondary markets across multiple asset classes over data, index, and analytics down to clearing and post-trading reporting. With the acquisition of Refinitiv, LSEG generates about two-thirds of its revenue from data and analytics including its FTSE Russell and WM/Refinitiv benchmarks as well as data feeds and terminals. The group is also a majority shareholder in Tradeweb, one of the dominant global fixed-income trading venues, as well as LCH, the largest clearinghouse for over-the-counter swaps globally.
88GF Score

Get the complete analysis for FRA:LS4C

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€98.78
Price
€128.07
GF Value