TMX GroupTMXXF +2.46%84 PB Ratio is 2.60 as of Jul. 05, 2026, which is 34% above its 10-year median of 1.94. GuruFocus rates TMXXF with a GF Score™ of 84/100 and a GF Value™ of $40.31 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 782 Capital Markets companies, TMX Group ranks worse than 73.02% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-05), TMX Group's share price is $33.37. TMX Group's Book Value per Share for the quarter that ended in Mar. 2026 was $12.85. Hence, TMX Group's PB Ratio of today is 2.60.
Good Sign:
TMX Group Ltd stock PB Ratio (=2.68) is close to 2-year low of 2.44.
The historical rank and industry rank for TMX Group's PB Ratio or its related term are showing as below:
TMXXF'
s PB Ratio Range Over the Past 10 Years
Min: 1.02 Med: 1.94 Max: 3.46
Current: 2.68
During the past 13 years, TMX Group's highest PB Ratio was 3.46. The lowest was 1.02. And the median was 1.94.
TMXXF's PB Ratio is ranked worse than 73.02% of 782
companies
in the Capital Markets industry
Industry Median: 1.34
vs TMXXF: 2.68
During the past 12 months, TMX Group's average Book Value Per Share Growth Rate was 4.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 6.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 6.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of TMX Group was 77.00% per year. The lowest was -19.00% per year. And the median was 5.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
TMX Group PB Ratio Related Terms
TMX Group PB Ratio Historical Data
* Premium members only.
The historical data trend for TMX Group's PB Ratio 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.
For the Financial Data & Stock Exchanges subindustry, TMX Group's PB Ratio, along with its competitors' market caps and PB Ratio 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.
TMX Group PB Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, TMX Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where TMX Group's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
TMX Group's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
TMX Group (TMXXF) has a PB Ratio of 2.60 as of Jul. 05, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TMX Group and its competitors. This is 34% above median its historical median of 1.94. Over the past decade, TMX Group's PB Ratio has ranged from 1.02 to 3.46. According to the industry distribution chart, TMX Group ranks #571 out of 782 companies in the Capital Markets industry, placing it in the top 73%.
Is TMX Group's PB Ratio too high?
TMX Group's current PB Ratio of 2.60 is 34% above median its 10-year median of 1.94. Over the past 10 years, this metric has ranged from a low of 1.02 to a high of 3.46. The Capital Markets industry median PB Ratio is 1.34. TMX Group's value of 2.60 is 94% above this industry median. Based on the distribution chart, TMX Group ranks #571 out of 782 companies in the Capital Markets industry, which is below the industry midpoint. Overall, TMX Group has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TMX Group's PB Ratio compare to SPGI and CME?
According to the Capital Markets industry distribution chart, TMX Group ranks #571 out of 782 companies for PB Ratio. This places TMX Group in the lower half of its industry. The industry median PB Ratio is 1.34. TMX Group's value of 2.60 is 94% above this benchmark. Historically, TMX Group's own PB Ratio has ranged from 1.02 to 3.46 over the past decade. While the company's 10-year median is 1.94 vs. the industry median of 1.34, TMX Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Capital Markets company?
The median PB Ratio among Capital Markets companies is 1.34, based on 782 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TMX Group's current PB Ratio of 2.60 is 94% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TMX Group and its competitors. For the Capital Markets industry, the median PB Ratio is 1.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TMX Group's current PB Ratio is 2.60, which is 34% above median its own 10-year median of 1.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TMX Group stock overvalued right now?
Based on GuruFocus' analysis, TMX Group (TMXXF) is currently considered Modestly Undervalued. The stock's GF Value™ is $40.31, compared to a current price of $33.37 — trading 17.2% below its estimated fair value. The current PB Ratio is 2.60, which is 34% above median its 10-year median of 1.94 and 94% above the Capital Markets industry median of 1.34. TMX Group's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For TMX Group (TMXXF), the current PB Ratio is 2.60 as of Jul. 05, 2026. 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 TMX Group (TMXXF) Overvalued in 2026?
Based on GuruFocus' analysis, TMX Group stock appears to be undervalued.
The current stock price of $33.37 is trading 17.2% below its estimated GF Value™ of $40.31.
GuruFocus considers TMX Group to be Modestly Undervalued.
Key valuation signals for TMXXF:
PB Ratio: 2.60 (34% above median its 10-year median of 1.94)
GF Value™: $40.31 vs. price of $33.37 (17.2% below fair value)
Industry Position: 94% above the Capital Markets median (#571 of 782)
No single metric tells the full story. See the TMXXF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TMX Group Ltd is a company that operates several markets to provide investment opportunities for its clients. The company has four operating segments: Global Solutions, Insights & Analytics, Capital Formation, Derivatives Trading & Clearing, and Equities and Fixed Income Trading & Clearing. The maximum of its revenue is from Global Solutions, Insights & Analytics, which deliver equities data, index data as well as integrated data sets to fuel high value proprietary and third party analytics, which help clients make trading and investment decisions. The company geographically operates in Canada, USA, UK, Germany, and Other Countries, with maximum revenue from Canada.
84GF Score
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