- Net operating income up 15% and PBT up 20% with strong financial performance and accelerated strategic delivery.
- Scaling at pace through institutional and B2B partnerships.
- Strong start and positive outlook for FY2027.
London, 4 June 2026 – CMC Markets PLC, a FTSE 250 company and global leader in multi-asset online trading and investing today announces its preliminary results for the year ended 31 March 2026.
The financial information contained in this document is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006.
Financial Performance
Net operating income represents total revenue net of introducing partner commissions and betting levies. Profit before tax margin % is calculated as profit before tax as a percentage of net operating income.
- Net operating income of £392.6 million (FY2025: £340.1 million), up 15% year-on-year and representing the Group’s best performance on record outside of the FY2021 Covid-impacted year.
- Record performance in the Australian stockbroking business, with net operating income of A$140.3 million (FY2025: A$106.3 million) up 32% year-on-year, supported by continued growth in client activity and assets under administration.
- CapX private market investments contributed approximately £2.4 million of net trading income during the year, reflecting unrealised gains on strategic equity holdings.
- EBITDA of £117.8 million (FY2025: £103.4 million), with strong performance across the Group including Treasury Management and Capital Markets which delivered disciplined yield and liquidity optimisation, including approximately £5.5 million of treasury-related trading income.
- Profit before tax of £101.3 million (FY2025: £84.5 million), with a profit before tax margin of 25.8% (FY2025: 24.8%) as stronger net operating income was partially offset by the £5.2 million Australian remediation charge recognised in the first half.
- Final dividend of 8.3 pence per share, bringing the full-year dividend to 13.8 pence per share (FY2025: 11.4 pence), up 21% year-on-year.
FY 2026 Strategic & Operational Highlights
- Australian stockbroking partnerships with Westpac and ASB Bank progressing well and on track for launch within next 12 months. Westpac represents a transformational partnership, with approximately A$39 billion of assets under administration across half a million share-trading accounts.
- Neobank API partnership delivered exceptional growth in new account openings and trading activity, demonstrating scalable distribution through B2B partnerships.
- Multi-asset platform rollout commenced, including 24/5 US equities and 24/7 crypto and bullion, forming the foundation of the Super App.
- Invest UK continued to progress a Tier 1 institutional partnership with a major international bank and signed a partnership agreement with UK retailer Currys, supporting the expansion of the Group’s UK B2B footprint.
- Web3 and digital asset infrastructure advanced, with institutional-grade capabilities for trading, custody, funding and withdrawal of digital assets aligned to the Group’s multi-asset platform and Super App architecture.
- Operating model continues to evolve, with a focus on cost discipline, outsourcing and efficiency programmes to support scalability and operating leverage over the medium-term.
Outlook
- The Group has reached a key inflection point, with institutional and B2B partnerships providing access to large and embedded client bases, enabling growth at scale with strong capital efficiency and attractive margins.
- The next 12 months are expected to be a defining period for the Group, with a number of significant initiatives scheduled to come online, including:
- Launch of the transformational Westpac and ASB Bank partnerships
- Expansion of the neobank API partnership
- Continued rollout of the multi-asset platform and progression towards the Super App
- Entry into European certificates and warrants market
- Ongoing development of tokenisation and digital asset infrastructure
- Strategic investments in major sponsorships, reinforcing brand presence and supporting growth in the retail and D2C segment
Lord Peter Cruddas: CEO Statement
FY2026 was another year of exceptional delivery for CMC, against a second half defined by extreme volatility. We have had tariffs, wars, de-dollarisation narratives, a parabolic move in gold and silver, persistent energy supply and demand tensions, and AI-driven speculative behaviour, especially across commodities.
This kind of volatility is often viewed as a tailwind for traditional direct-to-client, or retail providers, which is broadly true. But CMC today operates a very different and diverse business model. With a majority of our income now derived from institutional and B2B platform partnerships, we are providing critical market infrastructure to our global partner platforms and their underlying clients.
It is vital, especially during extreme volatility, that our partners can rely on us to deliver real-time pricing, liquidity, execution, risk management and stability at scale – often across hundreds of thousands of partner clients. Our partner’s brand and reputation depend on our service.
Volatility does not simply drive activity – it tests the resilience, stability and scalability of our technology and operating model. We are, in effect, operating an exchange-level service to our partners.
During the most extreme volatility in FY2026 we continued to deliver strong performance for our clients and partners. This is not incidental; we have the experience and technology that has been built over the last twenty-five years and in the second half of FY2026 this was tested to the extreme and proved to be a key foundation for the accelerated and diversified growth we are seeing across the business.
It therefore gives me great pride that against this volatile backdrop CMC has delivered a strong financial performance whilst supporting our B2B and institutional partners, and executing against the most ambitious product and infrastructure programme in the Company’s history, with acceleration on all fronts:
- Multi-asset platform rollout commenced, forming the foundation of the Super App
- Web3 and DeFi infrastructure advanced towards operational capability
- Neobank API platform saw unmatched, scalable explosive growth
- Invest UK secured a landmark Tier 1 institutional partnership with a major international bank
- Invest Australia platform build for Westpac partnership progressing well
- Institutional and B2B represents a majority of our income highlighting the diversity of our revenue streams and strength of our B2B offering
- Financial performance remains strong with PBT up 20% and dividend for the full year up 21%
These achievements are not isolated. They are the result of a strategy that has been consistent for many years: Scale through partnerships has always been the strategy – scaling partnerships, scaling technological infrastructure and scaling CMC’s presence within the global financial ecosystem.
We have positioned the business at the intersection of established financial markets and the next generation of digital finance. Our ability to scale at speed across products, partners and platforms – whilst maintaining institutional-grade performance – has allowed us to occupy that position, and it is a powerful place to operate.
See also:
CMC Markets launches grey market pre-IPO trading capabilities | Disruption Banking
CMC Markets launches Spectre trading account for retail clients | Disruption Banking
