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LSEG delivers steady Q1 growth, reiterates 2025 outlook

Date: 01 May 2025

1 minute read

1 May 2025

If you are covering LSEG’s Q1 trading update, please find comments below from Will Howlett, financials analyst at Quilter Cheviot:

"LSEG's Q1 2025 trading update aligns with expectations, delivering steady growth while navigating macroeconomic uncertainties.

“Markets performance saw a modest beat, driven by TradeWeb’s strength in Fixed Income, OTC Derivatives, and FX. However, slight softness in Data & Analytics and FTSE Russell balanced this out. Importantly, with 70% of revenues recurring and a gearing toward higher volatility, the group maintains strong revenue visibility.

“Despite trading at a discount to market data peers, LSEG continues to exhibit a similar growth trajectory. The company reiterated its guidance for 2025, projecting organic growth of 6.5-7.5%, an improved margin, and robust free cash flow. While LSEG's forward PE of 27.5x is slightly above its five-year average, earnings growth remains competitive, surpassing exchange peers and keeping pace with top market data firms.

“With ongoing buybacks and steady annual subscription value growth, LSEG remains a compelling proposition for investors.”

Tim Skelton-Smith

Tim Skelton-Smith

Head of External Communications
+44 (0)7824 145076

Notes to Editors

Notes to Editors:

About Quilter plc

Quilter plc is a leading wealth management business, helping to create brighter financial futures for every generation.

Quilter plc oversees £157.4 billion in customer investments (as at 30 June 2026).

It has an adviser and customer offering spanning financial advice, investment platforms, multi-asset investment solutions and discretionary fund management.

The business is comprised of two branded segments: Quilter and Quilter Cheviot.

Quilter encompasses the financial advice network and national, Quilter's investment platform and multi-asset solutions and Quilter Invest, the digital savings and investment app.

Quilter Cheviot is a discretionary fund management and financial planning business.

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Senator House, 85 Queen Victoria Street, London, EC4V 4AB, United Kingdom. Registered number: 6404270.  Registered in England.

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