TP ICAP Group (TCAPF) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of TP ICAP Group $7.55, price $4.25, upside +77.7%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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TP ICAP Group
TCAPF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.7899 – $4.57 · fair‑value band $3.31 – $10.31 · the $4.25 price screens below the $7.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
TP ICAP Group PLC provides intermediary services, contextual insights, trade execution, pre-trade and settlement services, and data-led solutions in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Global Broking, Energy & Commodities, Liquidnet, and Parameta Solutions divisions.
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TP ICAP Group PLC provides intermediary services, contextual insights, trade execution, pre-trade and settlement services, and data-led solutions in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Global Broking, Energy & Commodities, Liquidnet, and Parameta Solutions divisions. The Global Broking division operates in rates, foreign exchange (FX) and money markets, equities, and credit products; and offers broking, facilitating price discovery, and liquidity services. The Energy & Commodities division operates in various commodities markets, including oil, gas, power, renewables, ferrous metals, base metals, precious metals, soft commodities, and digital assets. This division also assists in canvassing the market for expressions of interest, intelligence gathering, negotiations, and post-transaction processing; and provides insights on the impact of unpredictable factors, such as weather conditions, geopolitics, and exchange rate movements. The Liquidnet division operates Liquidnet, a cash equities dark/block electronic trading network; and Coex Partners, a trade advisory and agency execution service that covers listed derivatives, FX, government bonds, cleared interest rate swaps, and cash equities. This division serves hedge funds, asset managers, and asset owners. The Parameta Solutions division provides unbiased data products that facilitate trading, enhance transparency, reduce risk, and enhance operational efficiency; and pricing, reference data, and analytical tools . This division also offers real-time price information for the OTC financial and commodity markets delivering independent data for various asset classes, including rates, FX and money markets, volatility, oil, energy, inflation, credit, and equities. TP ICAP Group PLC is based in Saint Helier, Jersey.
Stock analysis
TP ICAP Group (TCAPF) currently trades at $4.25, while our model-based Fair Value estimate is $7.55, implying the stock looks roughly 43.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $7.98 per share, and 8 of the 13 models we run sit above the $4.25 price.
Bear case: the Asset-Based group reads lowest at $2.45, and 5 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: $3.31 (bear) to $10.31 (bull), the price of $4.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
TP ICAP Group reported revenue of £2.4B in FY2025 versus £1.8B in FY2021, a compound +6.9%/yr. Reported net income was £186M in FY2025, compounding +147.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap $4.4B · P/E ratio 13.3 · P/S ratio 1.05 · EPS (TTM) $0.3200 · Dividend yield 4.0% · Net margin 7.9% · Return on equity 9.2% · Return on assets (EBIT) 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 78%, TCAPF screens cheaper than that median.
Fair Value models
All 13 models by family
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Set up alert →Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 68
Revenue & earnings trend
Growth Forecast
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Compare TP ICAP Group with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 462 stocks
Valuation Multiplesvs Capital Markets median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $188.08 | $314.07 | +67% |
| The Goldman Sachs Group GS | $900.36 | $766.86 | −15% |
| The Charles Schwab Corporation SCHW | $97.74 | $118.07 | +21% |
| Interactive Brokers Group IBKR | $89.24 | $23.12 | −74% |
| Robinhood Markets, Inc HOOD | $116.22 | $47.77 | −59% |
| Macquarie Group MQG | A$245.63 | A$80.51 | −67% |
| CITIC Securities Company 600030 | ¥26.29 | ¥18.35 | −30% |
| Guotai Haitong Securities Co 601211 | ¥17.21 | ¥19.35 | +12% |
| East Money Information Co 300059 | ¥18.28 | ¥4.94 | −73% |
| Nomura Holdings NMR | $9.91 | $10.19 | +3% |
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Key figures of TP ICAP Group
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