TMF Group announces full year results for 2025

TMF Group, a provider of global compliance and administrative services, has today announced its full year results for the year ending 31 December 2025.

Continued strong performance

TMF Group performed strongly in 2025 marking six years of revenue and EBITDA growth.

• Revenue growth of 9% to €962 million (2024: €883 million)
• Revenue including full year impact of acquisitions €981 million
• EBITDA growth of 9%, to €300 million (2024: €276 million)
• EBITDA including full year impact of acquisitions €307 million
• Continued strong people engagement (71%) and retention (86%)
• Completed six acquisitions

Revenue growth in 2025 was largely organic [1], driven by a focus on serving existing clients and growing support to them as they consolidated more of their needs with TMF Group. That aligns with TMF Group’s focus on becoming the way for multinational clients to invest and operate safely around the world.

TMF Group completed six acquisitions in 2025, covering all three of its regions. These strengthened the firm’s offering, in particular adding to its fund solutions capability, its management of complex deferred cash and equity compensation plans and its geographic coverage. EBITDA grew in line with revenue as the firm continued to invest in high-quality, digital delivery.

2025 was also a year of significant transformation within TMF Group in moving to its goal of flawless service. That work was led by the creation of a Transformation function and a Value Creation Plan to build a better TMF for colleagues, clients and shareholders. Achievements of note in 2025 include:

• Backbone. The firm used 2025 to strengthen its operational backbone. It ended the year with 90% of its revenue going through a single Finance platform, a new global KYC platform and a universal service catalogue all greatly simplifying how things work within TMF Group and directly improving client experience.
• Service. The firm continued its journey to flawless service with the creation of a new Global Service Delivery function. Client NPS in 2025 improved by 11 to reach 55, a top tier score for professional service firms.
• People. The quality and engagement of the team is the most critical drivers of customer service. In 2025, the firm continued to focus on career management through its TMF Academy and launched TalentHub. In 2025 the majority of open roles were for the first time filled through promotion and regretted attrition (defined by leavers who had received an above minimum pay award) was just 6%.
• Proposition. The firm has a programme to invest in its value proposition for all major services. It widens what TMF Group can do for its clients and strengthens the quality and productivity of how work is done. In 2025, Employer Services was launched including a new payroll platform, Optix, designed with client input around critical-to-quality process steps identified by TMF Labs.
• Relationship. The firm pivoted from a sales and product structure to put client at the top of its structure. That focus on clients, helped by the further improvement in service, led to €147m of new business in recurring annual contracts (ACV) in 2025, an increase of 18% on prior year most of which will land in 2026. 75% of that new business was to existing clients, deepening TMF Group’s partnership with them.
• Governance. In 2025, the firm saw a further improvement in its key risk indicators reflected in a further drop in its insurance premium. The firm created a key risk framework that distinguishes between operational and strategic risks, with specific risks, KPI and owners for each. A new leader was promoted to lead a combined Legal, Risk and Compliance function. That has led to a simpler, risk-adjusted approach to governance so that effort goes where it is needed.

These transformations took a lot of effort for a lot of people, in particular where core platforms and processes were changed. That inevitably had some effect on 2025 performance, but the improvement in NPS and in new business shows that clients were looked after throughout and that the investment will pay off quickly.

Mark Weil, TMF Group’s CEO, said:

2025 was another strong year in terms of performance. But the most important thing was the progress in transforming TMF Group that we made on so many fronts. While there is more to do, what we have done sets us up to be a stronger partner for our clients, with a simpler, better, faster way of doing things for them.

Patrick de Graaf, TMF Group’s CFO, commented:

We finished a solid year, marking 6 years of continuous revenue and EBITDA growth. We enter 2026 in great shape with a tailwind from 2025 new business and revenue retention, strong colleague and client engagement, and further operational leverage opportunities from more revenue landing onto our global delivery platform.

Full report available here.

[1] Organic revenue +5%, EBITDA +4%

Media Contacts

Marina Llibre Martin, Global PR Manager
marina.llibremartin@tmf-group.com