LSEG Annual Report 2025

LSEG is a leading provider of financial markets infrastructure and data products, delivering capabilities in data, indices and analytics, capital formation, trade execution, clearing and risk management. Our solutions enable customers to access liquidity, manage risk and make informed decisions across global markets.

We drive financial stability by operating businesses that are of systemic importance, fundamental to the financial ecosystem and that serve our customers’ critical needs.

We empower economies by helping our customers to raise capital, support employment, innovate and access global financial networks, across multiple asset classes.

We enable customers to create sustainable growth by providing the tools and data that enable financial markets to manage risk and make informed investment decisions.

In partnership with our customers, LSEG is reshaping how financial services are built, delivered and experienced, and 2025 has been another strong year for the Group.

LSEG has progressed significantly with its transformation in 2025. We have built a Group with a unique portfolio of businesses, all of which have strong, competitive positions. Our solutions support critical functions in the global financial system, with real strategic partnerships grounded in expertise and trust.

Total income (excl. recoveries)

£9.0bn

+7.1% organic ccy growth vs 2024
Adjusted EBITDA

£4.5bn

+11.8% organic ccy growth vs 2024
Adjusted EBITDA margin

50.3%

+210bps of ccy improvement vs 2024
Adjusted EPS

420.6p

+15.7% vs 2024
Total dividend

150.0p

+15.4% vs 2024

CCY numbers are quoted on constant currency basis

The diagram is a visual representation of how LSEG makes more possible with our global, multi-asset class, across the trade lifecycle, open ecosystem, deep partnership with our customers, integrated solutions, best-in-class data machine and distribution and we are trusted to deliver services meeting business-critical needs.

Global, multi-asset class FMI and data provider across the trade lifecycle

We serve ever more of our customers’ needs pre-, at and post-trade, across asset classes and geographies.

Integrated solutions, including AI functionality

We offer seamless integration across different elements of our product set, including AI functionality, to drive greater insights from our data and reduce friction in customer workflows.

AI-enabled data machine and distribution

To enhance our ability to enrich our leading data offering and better monetise it, we are investing in our ‘data turbine’, from content ingestion through to data management and distribution – accelerated by AI and our partnership with a number of the world’s leading technology companies.

Trusted to deliver services meeting business-critical needs

Our long-standing heritage of playing a vital role in global financial markets remains at the core of what we do; our customers trust and rely on us to serve critical needs.

Deep partnership with our customers

Our level of relevance to our customers creates the opportunity for strong partnership. From developing our clearing houses to now building new products powered by AI, we partner with our customers to transform industries.

Open ecosystem

Interoperability is in our DNA. When other exchange groups focused on vertical integration of trading and clearing, we championed open access – and stay true to this philosophy today with our market infrastructure and our data.

Trusted data

We curate trusted, high-quality data to scale AI in financial services through our open, LLM-agnostic partnership approach.

Transformative products

We are reimagining how financial services professionals work, with AI-enabled products that bring speed, simplicity and conviction to our customers’ workflows and decision-making.