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Highlights

  • LSEG reported a 6.8% YoY rise in H1 FY25 income to GBP 4,489 million.
  • LSEG declared an interim dividend of GBX 47.0 and announced up to GBP 1 billion in H2 buybacks.
  • LSEG raised EBITDA margin guidance and reaffirmed FY25 income growth and GBP 2.4 billion free cash flow target.

London Stock Exchange Group PLC (LSE: LSEG), an FTSE 100 company, provides global financial markets infrastructure and data services through five divisions, with its Data & Analytics unit offering solutions across Workflows, Data & Feeds, and Analytics segments.

In the first half of the financial year 2025 (H1FY25), LSEG reported a 6.8% YoY increase in total income (excluding recoveries) to GBP 4,489.0 million, primarily driven by organic growth across all business segments, led by a 10.7% rise in the Markets division and 5.1% growth in Data & Analytics. Adjusted EBITDA rose by 9.0% YoY to GBP 2,223.0 million, supported by operating leverage from increased subscription revenues and a strategic shift to in-house engineering capabilities. Adjusted operating profit increased by 10.4% YoY to GBP 1,726.0 million, compared to GBP 1,563.0 million in H1FY24.

Business Update

LSEG declared an interim dividend of GBX 47.0 per share, up 14.6% YoY, payable on 17 September. The company returned GBP 500 million via buybacks in H1 and plans to repurchase up to GBP 1 billion more in H2FY25.

LSEG completed 250 Workspace enhancements and successfully retired Eikon, improving client integration, retention, and platform simplification.

Company Outlook

LSEG increased its constant currency EBITDA margin guidance by 75–100 basis points following solid operational leverage in H1 FY25. Capital expenditure is expected to remain near 10% of income (excluding recoveries), with continued investment in digital platforms, data capabilities, and Microsoft partnership initiatives.

The company maintained its full-year income growth guidance of 6.5–7.5% and reaffirmed its minimum equity free cash flow target of GBP 2.4 billion.

Top 10 Shareholder

The top 10 shareholders collectively hold approximately 37.04% of the company's total shares, with Qatar Investment Authority and BlackRock Investment Management (UK) Ltd. holding the maximum stake at ~5.97% and ~5.62%, respectively.

Stock Information

The stock has declined by approximately 9.94% over the past month and 19.02% over the past six months. As of 04 August 2025, the stock closed at GBX 9,636, trading above the average of the 52-week low of GBX 9,050 and the 52-week high of GBX 12,185.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 4 August 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.