FRGE vs CBOE

For growth investors, Cboe Global Markets, Inc.

(CBOE) is the stronger pick with 15. 1% revenue growth year-over-year, versus 13. 6% for Forge Global Holdings, Inc. (FRGE). Cboe Global Markets, Inc. (CBOE) offers the better valuation at 33. 1x trailing P/E (27. 5x forward), making it the more compelling value choice. Analysts rate Forge Global Holdings, Inc. (FRGE) a "Hold" — based on 5 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, Cboe Global Markets, Inc.

(CBOE) delivered a total return of +231. 6%, compared to -69. 8% for Forge Global Holdings, Inc. (FRGE). Over 10 years, the gap is even starker: CBOE returned +473. 5% versus FRGE's -70. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Cboe Global Markets, Inc.

(CBOE) is the lower-risk stock at -0. 27β versus Forge Global Holdings, Inc. 's 0. 37β — meaning FRGE is approximately -235% more volatile than CBOE relative to the S&P 500. On balance sheet safety, Forge Global Holdings, Inc. (FRGE) carries a lower debt/equity ratio of 6% versus 33% for Cboe Global Markets, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Cboe Global Markets, Inc.

(CBOE) is pulling ahead at 15. 1% versus 13. 6% for Forge Global Holdings, Inc. (FRGE). On earnings-per-share growth, the picture is similar: Cboe Global Markets, Inc. grew EPS 44. 5% year-over-year, compared to 30. 4% for Forge Global Holdings, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Cboe Global Markets, Inc.

(CBOE) is the more profitable company, earning 23. 3% net margin versus -83. 6% for Forge Global Holdings, Inc. — meaning it keeps 23. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CBOE leads at 32. 1% versus -103. 7% for FRGE. At the gross margin level — before operating expenses — CBOE leads at 48. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

Analyst consensus price targets imply the most upside for FRGE: 0.

0% to $45. 00.

In this comparison, CBOE (0.

8% yield) pays a dividend. FRGE does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Cboe Global Markets, Inc.

(CBOE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 27), 0. 8% yield, +473. 5% 10Y return). Both have compounded well over 10 years (CBOE: +473. 5%, FRGE: -70. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

These companies operate in different sectors (FRGE (Technology) and CBOE (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: FRGE is a small-cap quality compounder stock; CBOE is a mid-cap high-growth stock. CBOE pays a dividend while FRGE does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.