TMX Group Limited (TSX:X)
Canada · Delayed Price · Currency is CAD 63.97
+1.45 (2.32%)
Nov 13, 2026, 4:00 PM EST
TMX Group Cash Flow Statement
Financials in millions CAD. Fiscal year is January - December.
Millions CAD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 588.2 | 415.7 | 481.5 | 356 | 542.7 | 338.5 |
Depreciation & Amortization | 194.6 | 180.7 | 165.6 | 112.5 | 113.8 | 87.1 |
Loss (Gain) on Equity Investments | 0.7 | 1.4 | 1.1 | -0.4 | 1.3 | -24.2 |
Stock-Based Compensation | 6.1 | 2 | 2 | 2 | 2.1 | 2.2 |
Other Operating Activities | 65.7 | 162 | 18.5 | 53 | -157 | 61.9 |
Change in Accounts Receivable | -106.6 | -48.6 | -41.4 | -41.8 | -3.3 | -19.7 |
Change in Accounts Payable | 46.1 | 32.1 | 8.3 | 49.5 | -57.9 | 4.8 |
Change in Unearned Revenue | 8.9 | 3.3 | -3.7 | 2.5 | -7.3 | 7.6 |
Change in Other Net Operating Assets | 4 | 16.2 | -8.5 | -8.4 | 9.7 | -16.8 |
Operating Cash Flow | 807.7 | 764.8 | 623.4 | 524.9 | 444.1 | 441.4 |
Operating Cash Flow Growth | 12.20% | 22.68% | 18.77% | 18.19% | 0.61% | 7.08% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -108 | -121.2 | -73.7 | -65.2 | -51.9 | -51.2 |
Cash Acquisitions | -918.4 | -80.3 | -1,127 | -5.1 | 56.2 | -138.4 |
Investment in Securities | -13.8 | -57.7 | 9.1 | -240.9 | -51.3 | -21.5 |
Other Investing Activities | 103.5 | 12.9 | 20.5 | 21.9 | 5.6 | 7.2 |
Investing Cash Flow | -936.7 | -246.3 | -1,171 | -289.3 | -41.4 | -203.9 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 2 | - | - | 12.1 | - |
Long-Term Debt Issued | - | - | 1,892 | 44.2 | - | 250 |
Total Debt Issued | 782.7 | 2 | 1,892 | 44.2 | 12.1 | 250 |
Short-Term Debt Repaid | - | -15.2 | -88 | -1.6 | - | -162.3 |
Long-Term Debt Repaid | - | -67.8 | -935.2 | -10.6 | -9.7 | -8.4 |
Lease Payments | -11.1 | -9.5 | -14.4 | -10.6 | -9.7 | -8.4 |
Total Debt Repaid | -187.8 | -83 | -1,023 | -12.2 | -9.7 | -170.7 |
Net Debt Issued (Repaid) | 594.9 | -81 | 868.9 | 32 | 2.4 | 79.3 |
Issuance of Common Stock | 10.1 | 8.6 | 24.2 | 16.1 | 26.6 | 15.1 |
Repurchase of Common Stock | -179.7 | - | - | -79.9 | -74.3 | -84.4 |
Common Dividends Paid | -265.7 | -233.6 | -208.1 | -196.9 | -185.1 | -168.9 |
Other Financing Activities | -122.4 | -171.6 | -122.4 | -80.5 | -62.5 | -35.9 |
Financing Cash Flow | 37.2 | -477.6 | 562.6 | -309.2 | -292.9 | -194.8 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 2.5 | -4.9 | 8.5 | -1 | 1.6 | -0.5 |
Net Cash Flow | -89.3 | 36 | 23.9 | -74.6 | 111.4 | 42.2 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 699.7 | 643.6 | 549.7 | 459.7 | 392.2 | 390.2 |
Free Cash Flow Growth | 9.77% | 17.08% | 19.58% | 17.21% | 0.51% | 13.07% |
Free Cash Flow Margin | 36.36% | 37.48% | 37.65% | 38.50% | 35.18% | 39.79% |
Free Cash Flow Per Share | 2.52 | 2.30 | 1.97 | 1.65 | 1.40 | 1.38 |
Levered Free Cash Flow | 583.8 | 530 | 517.3 | 397.15 | 305.74 | 335.99 |
Unlevered Free Cash Flow | 642.3 | 587.19 | 584.36 | 425.59 | 329.49 | 359.49 |
Free Cash Flow After Leases | 688.6 | 634.1 | 535.3 | 449.1 | 382.5 | 381.8 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 92 | 89.9 | 83.9 | 47.2 | 37 | 34.6 |
Cash Income Tax Paid | 213 | 204.6 | 141.2 | 131.4 | 135.8 | 114.6 |
Change in Working Capital | -47.6 | 3 | -45.3 | 1.8 | -58.8 | -24.1 |