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London Stock Exchange Group (LSEG) investor relations material
London Stock Exchange Group Investor Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor Update summary10 Nov, 2025
Strategic transformation and innovation
Achieved significant transformation over five years, integrating and modernizing platforms, and shifting from integration to product-led transformation with a focus on AI and engineering excellence.
Leadership changes brought in industry experts to drive agility, efficiency, and product innovation, with over a third of group leaders joining in the last three years.
Modernized infrastructure, including migration to Azure and unified platforms, enabling scalable, resilient, and customer-centric product delivery.
Strong recurring revenue model, with 75% from subscriptions and robust cash generation supporting M&A and shareholder returns.
Delivered above-guidance growth, exceeded synergy targets, improved margins, and reduced leverage post-Refinitiv acquisition.
Strategic positioning and growth
Positioned for long-term sustainable growth with diversified, high-quality revenues and strong cash generation.
Leading positions in large, growing market segments such as real-time data, benchmarks, KYC/AML screening, and rates trading.
Businesses are increasingly integrated, offering end-to-end solutions and establishing industry standards.
Aligned to structural growth drivers: technology adoption, electronification, regulation, and risk management.
Diversified across asset classes, geographies, and customer communities, with a robust, integrated workflow.
Financial performance and shareholder returns
73% of income is high-quality recurring revenue, with strong product retention and visible revenues.
Transactional revenues are structurally growing, with a 15% YoY increase.
Organic revenue growth has accelerated post-Refinitiv integration, reaching 7.7% in 2024 and 7.3% YTD Q3 2025.
Free cash flow is forecast to reach £2.4bn in 2025, supporting EPS and DPS CAGRs of 15% and 18% over 20 years.
Confident in ability to monetize data through both subscription and usage-based models, with focus on maximizing customer value and revenue.
LSEG's AI strategy: commercial outcomes?
How does PSM address private market challenges?
How does Smart Clearing unlock FX market efficiency?
How will LSEG monetize AI-ready data via usage models?
What is LSEG's enduring edge from Microsoft partnership?
AI's long-term impact on financial industry employment?
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Next London Stock Exchange Group earnings date
Q4 202526 Feb, 2026
Next London Stock Exchange Group earnings date
Q4 202526 Feb, 2026
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London Stock Exchange Group Plc is a global financial markets infrastructure and data provider. Its services include trading platforms, clearing, settlement, and financial information services across multiple asset classes. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.
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