Cboe Global Markets, Inc. logo

Cboe Global Markets, Inc.

CBOE

CBOEFinancial ServicesFinancial - Data & Stock Exchanges

Previous close

$300.74

+$6.63 · +2.25%

Aug 21, 4:00 PM ET

CBOE company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

68

Undervalued

Momentum

37

Weakening

Sentiment

77

Bullish

Risk resilience

53

Elevated Risk

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Company profile

Company website

Cboe Global Markets, Inc. functions as a global operator of various financial exchanges, primarily renowned for its options trading platforms, all managed through its numerous subsidiaries. The company organizes its expansive business activities into five distinct segments. The Options segment specializes in the trading of listed market indices. Its North American Equities division facilitates transactions for listed stocks in the United States and Canada, also offering services for exchange-traded products (ETPs), encompassing both trading and listing. The Futures segment is dedicated to futures trading. The Europe and Asia Pacific division delivers a broad range of services, including transactions for pan-European listed equities and derivatives, ETPs, exchange-traded commodities, and international depository receipts, along with ETP listing and clearing provisions. Finally, the Global FX segment serves institutional foreign exchange trading and non-deliverable forward FX transactions. Cboe Global Markets has established important strategic partnerships with key players such as S&P Dow Jones Indices, LLC; FTSE International Limited; Frank Russell Company; MSCI Inc.; and DJI Opco, LLC. The company, which originated in Chicago, Illinois, in 1973, previously operated as CBOE Holdings, Inc. until its rebranding in October 2017.

Industry
Financial - Data & Stock Exchanges
Sector
Financial Services
Headquarters
US
CEO
Craig Steven Donohue
Listed since
Jun 15, 2010
Employees
1,661

Market position

Day range

Current $300.74

52-week range

Current $300.74

Open
$295.83
Previous close
$294.11
Volume
1.24M
0.95× average
Average volume
1.3M
Average daily volume
Market cap
31.47B USD
Beta
0.42
Market reference 1
50-day average
$276.41
+8.80% above average
200-day average
$282.85
+6.32% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
25.75B USD
P/E (TTM)
23.37×
P/B (TTM)
5.6×
P/S (TTM)
6.22×
EV / EBITDA
14.79×
Earnings yield
4.19%
Free cash flow yield
4.39%
Dividend yield
0.96%

Profitability & efficiency

Gross margin
52.29%
Operating margin
35.18%
Net margin
26.73%
Return on equity
21.41%
Return on assets
11.82%
Return on invested capital
15.31%

Financial health

Debt / equity
0.28×
Current ratio
1.87×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends55%37%19%1%Gross margin, FY2021: 42.24%Gross margin, FY2022: 44.00%Gross margin, FY2023: 50.83%Gross margin, FY2024: 50.61%Gross margin, FY2025: 48.93%Operating margin, FY2021: 23.06%Operating margin, FY2022: 12.37%Operating margin, FY2023: 28.03%Operating margin, FY2024: 26.83%Operating margin, FY2025: 32.12%Net margin, FY2021: 15.14%Net margin, FY2022: 5.94%Net margin, FY2023: 20.18%Net margin, FY2024: 18.68%Net margin, FY2025: 23.33%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 42.24%. Gross margin FY2022 44.00%. Gross margin FY2023 50.83%. Gross margin FY2024 50.61%. Gross margin FY2025 48.93%. Operating margin FY2021 23.06%. Operating margin FY2022 12.37%. Operating margin FY2023 28.03%. Operating margin FY2024 26.83%. Operating margin FY2025 32.12%. Net margin FY2021 15.14%. Net margin FY2022 5.94%. Net margin FY2023 20.18%. Net margin FY2024 18.68%. Net margin FY2025 23.33%.

Income trends

Revenue

4.71B USD+15.13%

Operating income

1.51B USD+37.85%

Net income

1.1B USD+43.81%
Income trends across reported periods5.16B USD3.37B USD1.58B USD−212.92M USDRevenue, FY2021: 3.49B USDRevenue, FY2022: 3.96B USDRevenue, FY2023: 3.77B USDRevenue, FY2024: 4.09B USDRevenue, FY2025: 4.71B USDOperating income, FY2021: 805.9M USDOperating income, FY2022: 489.6M USDOperating income, FY2023: 1.06B USDOperating income, FY2024: 1.1B USDOperating income, FY2025: 1.51B USDNet income, FY2021: 529M USDNet income, FY2022: 235M USDNet income, FY2023: 761.4M USDNet income, FY2024: 764.9M USDNet income, FY2025: 1.1B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 3.49B USD. Revenue FY2022 3.96B USD. Revenue FY2023 3.77B USD. Revenue FY2024 4.09B USD. Revenue FY2025 4.71B USD. Operating income FY2021 805.9M USD. Operating income FY2022 489.6M USD. Operating income FY2023 1.06B USD. Operating income FY2024 1.1B USD. Operating income FY2025 1.51B USD. Net income FY2021 529M USD. Net income FY2022 235M USD. Net income FY2023 761.4M USD. Net income FY2024 764.9M USD. Net income FY2025 1.1B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue4.71B USD4.09B USD3.77B USD3.96B USD3.49B USD
Cost of goods sold2.41B USD2.02B USD1.86B USD2.22B USD2.02B USD
Gross profit2.31B USD2.07B USD1.92B USD1.74B USD1.48B USD
Selling, general, and administrative91.5M USD603M USD555.4M USD475.7M USD381.9M USD
Operating expenses792.6M USD974M USD860.1M USD1.25B USD670.2M USD
Interest income49.4M USD27.3M USD12M USD3.6M USD600K USD
Interest expense52.3M USD51.5M USD62.4M USD60M USD48M USD
Depreciation and amortization122.4M USD133M USD158M USD166.8M USD167.4M USD
Operating income1.51B USD1.1B USD1.06B USD489.6M USD805.9M USD
Net income1.1B USD764.9M USD761.4M USD235M USD529M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+3.59%
11 comparable reports
Latest EPS result
3.56
Estimate 3.48 · Beat by 2.30%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.853.222.581.95Q1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 2.1, estimate 2.13, surprise -1.41%, Miss. Q2 2025, reported May 2, 2025: actual 2.5, estimate 2.36, surprise +5.93%, Beat. Q3 2025, reported Aug 1, 2025: actual 2.46, estimate 2.42, surprise +1.65%, Beat. Q4 2025, reported Oct 31, 2025: actual 2.67, estimate 2.53, surprise +5.53%, Beat. Q1 2026, reported Feb 6, 2026: actual 3.06, estimate 2.94, surprise +4.08%, Beat. Q2 2026, reported May 1, 2026: actual 3.7, estimate 3.34, surprise +10.78%, Beat. Q3 2026, reported Jul 31, 2026: actual 3.56, estimate 3.48, surprise +2.30%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 3.37, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.25B991.28M734.41M477.54MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 7, 2025: actual 1.11B USD, estimate 530.68M USD, surprise +108.71%, Beat. Q2 2025, reported May 2, 2025: actual 1.2B USD, estimate 560.72M USD, surprise +113.12%, Beat. Q3 2025, reported Aug 1, 2025: actual 1.17B USD, estimate 574.3M USD, surprise +104.33%, Beat. Q4 2025, reported Oct 31, 2025: actual 1.14B USD, estimate 624.25M USD, surprise +82.89%, Beat. Q1 2026, reported Feb 6, 2026: actual 671.1M USD, estimate 659.51M USD, surprise +1.76%, Beat. Q2 2026, reported May 1, 2026: actual 728.9M USD, estimate 689.73M USD, surprise +5.68%, Beat. Q3 2026, reported Jul 31, 2026: actual 731.6M USD, estimate 718.62M USD, surprise +1.81%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 707.97M USD, surprise —, Comparison unavailable.

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