LSEG H1 analyst consensus - 11 July 2024
Basis of consensus
Consensus has been compiled from financial estimates (models) provided by third-party research analysts.
Consensus is based on 15 analyst models updated and published since LSEG's Q1 2024 trading update (issued 25 April 2024) on a consistent basis.
We have also compiled the following consensus growth rates for Q1:
- H1-24 total income (excl recoveries) growth on a constant currency basis (based on 8 estimates received): 6.8%
- H1-24 total income (excl recoveries) growth on an organic, constant currency basis (based on 6 estimates received): 6.3%
| £m | H1-24 | ||
| Revenue | Consensus | Low | High |
| Workflows | 959 | 953 | 975 |
| Data & Feeds | 942 | 915 | 957 |
| Analytics | 112 | 105 | 114 |
| Data & Analytics | 2,014 | 1,995 | 2,028 |
| Subscription | 292 | 142 | 156 |
| Asset based | 151 | 75 | 80 |
| FTSE Russell | 443 | 220 | 232 |
| Risk Intelligence | 266 | 134 | 137 |
| Equities | 121 | 54 | 72 |
| FX | 125 | 61 | 72 |
| Fixed income, derivatives & other | 627 | 276 | 323 |
| Capital Markets | 873 | 839 | 891 |
| OTC Derivatives | 276 | 133 | 144 |
| Securities & Reporting | 123 | 54 | 66 |
| Non-Cash Collateral | 56 | 26 | 29 |
| Post Trade | 455 | 214 | 233 |
| NTI | 135 | 64 | 72 |
| Post Trade income | 590 | 577 | 601 |
| Other | 9 | 7 | 14 |
| Total Income (excl. recoveries) | 4,195 | 4,165 | 4,222 |
| Recoveries | 188 | 185 | 195 |
| Total Income (incl. recoveries) | 4,384 | 4,352 | 4,417 |
| Cost of Sales | (581) | (585) | (576) |
| Gross Profit | 3,803 | 3,771 | 3,833 |
| Adjusted opex | (1,794) | (1,830) | (1,775) |
| Income from equity investments | 2 | - | 8 |
| Share of profit / (loss) after tax of associates | 0 | (1) | - |
| Adjusted EBITDA | 2,011 | 1,977 | 2,033 |
| Adjusted EBITDA margin (%) ex-recoveries | 47.9% | 47.4% | 48.4% |
| Underlying depreciation and amortisation | (482) | (499) | (474) |
| Adjusted operating profit | 1,529 | 1,499 | 1,554 |
| Net finance expense | (88) | (95) | (78) |
| Adjusted profit before tax | 1,440 | 1,414 | 1,467 |
| Tax | (348) | (356) | (328) |
| Tax rate | 24.1% | 24.5% | 23.0% |
| Adjusted profit after tax | 1,093 | 1,068 | 1,115 |
| Non-controlling interest | (159) | (173) | (140) |
| Underlying profit from continuing operations | 933 | 913 | 960 |
| Weighted Average number of shares | 538.9 | 535 | 552 |
| Adjusted basic EPS | 173.1 | 166.5 | 179.2 |
Please note that any opinions, estimates or forecasts regarding London Stock Exchange Group plc performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of the London Stock Exchange Group plc or its management. The number of analysts that are included in the above consensus may differ from the total number of analysts that cover the London Stock Exchange Group plc, due to out of date forecasts (from before the latest set of results) or change at the analysts' company.