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CBOE logoCboe Global Markets, Inc.(CBOE)Earnings, Financials & Key Ratios

CBOE•AMEX•Banking & Credit
$344.43
$36.08B mkt cap·33.1× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryFinancial Data & ExchangesSub-IndustryExchanges, Clearing and Trading Venues
AboutCboe Global Markets, Inc., through its subsidiaries, operates as an options exchange worldwide. It operates through five segments: Options, North American Equities, Futures, Europe and Asia Pacific, and Global FX. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and ETP listing services. The Futures segment trades in futures. The Europe and Asia Pacific segment offers pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services. The Global FX segment provides institutional foreign exchange (FX) trading and non-deliverable forward FX transactions services. The company has strategic relationships with S&P Dow Jones Indices, LLC; FTSE International Limited; Frank Russell Company; MSCI Inc.; and DJI Opco, LLC. The company was formerly known as CBOE Holdings, Inc. and changed its name to Cboe Global Markets, Inc. in October 2017. Cboe Global Markets, Inc. was founded in 1973 and is headquartered in Chicago, Illinois.Show more
  • Net Interest Income$49M+304.1%
  • Total Revenue$4.71B+15.1%
  • Net Income$1.1B+43.8%
  • Return on Equity23.36%+26.2%
  • Net Interest Margin0.53%+270.9%
  • Efficiency Ratio16.81%-29.3%
  • ROA12.87%+28.5%
  • Equity / Assets55.22%+0.5%
  • Book Value per Share48.89+20.5%
  • Tangible BV/Share6.57+358.4%
  • Debt/Equity0.33-12.3%
Analysis→Technical→

CBOE Key Insights

Cboe Global Markets, Inc. (CBOE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 20.8%
  • ✓Strong 5Y profit CAGR of 18.6%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓Efficient operations: 16.8% efficiency ratio
  • ✓10 consecutive years of dividend growth
  • ✓Well capitalized: 55.2% equity/assets

✗Weaknesses

  • ✗Weak NIM of 0.5%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CBOE Price & Volume

Cboe Global Markets, Inc. (CBOE) stock price & volume — 10-year historical chart

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CBOE Growth Metrics

Cboe Global Markets, Inc. (CBOE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years22.21%
5 Years6.59%
3 Years6%
TTM-

Profit CAGR

10 Years18.29%
5 Years18.63%
3 Years67.28%
TTM43.81%

EPS CAGR

10 Years15.53%
5 Years19.53%
3 Years67.94%
TTM44.32%

Return on Capital

10 Years21.79%
5 Years16.42%
3 Years19.49%
Last Year22.71%

CBOE Recent Earnings

Cboe Global Markets, Inc. (CBOE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
May 1, 2026
EPS
$3.70
Est $3.34
+10.8%
Revenue
$729M
Est $703M
+3.6%
Q1 2026
Feb 6, 2026
EPS
$3.06
Est $2.94
+4.1%
Revenue
$671M
Est $660M
+1.8%
Q4 2025
Oct 31, 2025
EPS
$2.67
Est $2.53
+5.5%
Revenue
$1.1B
Est $624M
+82.9%
Q3 2025
Aug 1, 2025
EPS
$2.46
Est $2.42
+1.7%
Revenue
$1.2B
Est $574M
+104.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$3.70vs $3.34+10.8%
$729Mvs $703M+3.6%
Q1 2026Feb 6, 2026
$3.06vs $2.94+4.1%
$671Mvs $660M+1.8%
Q4 2025Oct 31, 2025
$2.67vs $2.53+5.5%
$1.1Bvs $624M+82.9%
Q3 2025Aug 1, 2025
$2.46vs $2.42+1.7%
$1.2Bvs $574M+104.3%
Based on last 12 quarters of dataView full earnings history →

CBOE Peer Comparison

Cboe Global Markets, Inc. (CBOE) competitors in Exchanges, Clearing and Trading Venues — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CME logoCMECME Group Inc.Direct Competitor104.61B288.3425.846.37%15.25%0.13
ICE logoICEIntercontinental Exchange, Inc.Direct Competitor86.89B153.4026.597.46%11.57%0.70
NDAQ logoNDAQNasdaq, Inc.Direct Competitor50.71B89.2028.8711.05%15.9%0.81
MKTX logoMKTXMarketAxess Holdings Inc.Direct Competitor5.53B148.8420.458.58%15.79%0.05
MSCI logoMSCIMSCI Inc.Product Competitor42.38B582.1437.419.74%
SPGI logoSPGIS&P Global Inc.Product Competitor125.38B423.5728.897.94%12.92%0.39
TW logoTWTradeweb Markets Inc.Product Competitor23.32B109.4328.9518.92%12.35%0.04
BGC logoBGCBGC Group, IncProduct Competitor3.95B10.8935.1327.62%13.53%1.55

Compare CBOE vs Peers

Cboe Global Markets, Inc. (CBOE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CME

Most directly comparable listed peer for CBOE.

Scale Benchmark

vs MS

Larger-name benchmark to compare CBOE against a more recognizable public peer.

Peer Set

Compare Top 5

vs CME, ICE, NDAQ, MKTX

CBOE Income Statement

Cboe Global Markets, Inc. (CBOE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income-41.3M-38.2M-35.9M-37.6M-47.4M-56.4M-50.4M-24.2M49.4M
NII Growth %-624.56%7.51%6.02%-4.74%-26.06%-18.99%10.64%51.98%304.13%
Net Interest Margin %-0.78%-0.72%-0.7%-0.58%-0.7%-0.81%-0.67%-0.31%0.53%
Interest Income001.9M1.1M600K3.6M12M27.3M49.4M
Interest Expense41.3M38.2M37.8M38.7M48M60M62.4M51.5M0
Loan Loss Provision1.19B1.51B1.32B2.13B1.97B2.16B1.79B1.97B2.41B
Non-Interest Income2.23B2.77B2.49B3.43B3.49B3.95B3.76B4.07B4.66B
Non-Interest Income %100%100%99.92%99.97%99.98%99.91%99.68%99.33%98.95%
Total Revenue
2.23B▲ 0%
2.77B▲ 24.2%
2.5B▼ 9.8%
3.43B▲ 37.3%
3.49B▲ 2.0%
3.96B▲ 13.3%
3.77B▼ 4.7%
4.09B▲ 8.5%
4.71B▲ 15.1%
Revenue Growth %245.54%24.21%-9.85%37.3%1.98%13.27%-4.67%8.51%15.13%
Non-Interest Expense623.7M617.5M599.7M592.1M670.2M1.25B860.1M974M792.6M
Efficiency Ratio27.98%22.3%24.03%17.28%19.18%31.63%22.79%23.79%16.81%
Operating Income
371.9M▲ 0%
599.4M▲ 61.2%
537.2M▼ 10.4%
662.2M▲ 23.3%
805.9M▲ 21.7%
489.6M▼ 39.2%
1.06B▲ 116.1%
1.1B▲ 3.8%
1.51B▲ 37.8%
Operating Margin %16.68%21.65%21.52%19.32%23.06%12.37%28.03%26.83%32.12%
Operating Income Growth %24.71%61.17%-10.38%23.27%21.7%-39.25%116.07%3.83%37.85%
Pretax Income
334.4M▲ 0%
571.2M▲ 70.8%
501.4M▼ 12.2%
660.4M▲ 31.7%
756.1M▲ 14.5%
432.9M▼ 42.7%
1.05B▲ 142.0%
1.08B▲ 3.5%
1.57B▲ 44.5%
Pretax Margin %15%20.63%20.09%19.27%21.64%10.94%27.76%26.47%33.23%
Income Tax-66.2M146M130.6M192.2M227.1M197.9M286.2M318.9M466.6M
Effective Tax Rate %-19.8%25.56%26.05%29.1%30.04%45.71%27.32%29.42%29.78%
Net Income
401.7M▲ 0%
426.5M▲ 6.2%
374.9M▼ 12.1%
468.2M▲ 24.9%
529M▲ 13.0%
235M▼ 55.6%
761.4M▲ 224.0%
764.9M▲ 0.5%
1.1B▲ 43.8%
Net Margin %18.02%15.4%15.02%13.66%15.14%5.94%20.18%18.68%23.33%
Net Income Growth %115.02%6.17%-12.1%24.89%12.99%-55.58%224%0.46%43.81%
Net Income (Continuing)400.6M425.2M370.8M468.2M529M235M761.4M764.9M1.1B
EPS (Diluted)
3.69▲ 0%
3.80▲ 3.0%
3.35▼ 11.8%
4.27▲ 27.5%
4.92▲ 15.2%
2.20▼ 55.3%
7.13▲ 224.1%
7.21▲ 1.1%
10.42▲ 44.5%
EPS Growth %62.56%2.98%-11.84%27.46%15.22%-55.28%224.09%1.12%44.52%
EPS (Basic)3.703.813.374.284.932.217.167.2410.46
Diluted Shares Outstanding107.5M112.2M111.8M109.3M107.2M106.7M106.2M105.5M105.1M

CBOE Balance Sheet

Cboe Global Markets, Inc. (CBOE) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments190.8M310.8M300.3M337.8M379M524.4M600.7M1.03B2.25B
Cash & Due from Banks143.5M275.1M229.3M245.4M341.9M432.7M543.2M920.3M2.22B
Short Term Investments47.3M35.7M71M92.4M37.1M91.7M57.5M110.3M36.1M
Total Investments130M121.9M132.2M135.1M282.9M344.9M402.8M494M68.5M
Investments Growth %78.33%-6.23%8.45%2.19%109.4%21.92%16.79%22.64%-86.13%
Long-Term Investments82.7M86.2M61.2M42.7M245.8M253.2M345.3M383.7M32.4M
Accounts Receivables217.3M287.3M234.7M337.3M326.9M369.8M337.3M444.6M391.4M
Goodwill & Intangibles4.61B4.41B4.27B4.62B4.69B4.79B4.75B4.55B4.45B
Goodwill2.71B2.69B2.68B2.9B3.03B3.12B3.14B3.12B3.15B
Intangible Assets1.9B1.72B1.59B1.73B1.67B1.66B1.6B1.42B1.3B
PP&E (Net)78.8M76.6M100.4M193.6M217.6M222.2M245.8M242.5M244.1M
Other Assets-430.7M-373.9M-327M-288.3M-246.9M-41M171.7M135.9M159.7M
Total Current Assets436.7M683.7M607.6M1.57B1.53B1.56B1.98B2.48B4.42B
Total Non-Current Assets4.83B4.64B4.51B4.95B5.28B5.44B5.51B5.31B4.88B
Total Assets
5.27B▲ 0%
5.32B▲ 1.1%
5.11B▼ 3.9%
6.52B▲ 27.4%
6.81B▲ 4.6%
7B▲ 2.7%
7.49B▲ 7.0%
7.79B▲ 4.0%
9.31B▲ 19.5%
Asset Growth %1004.62%1.05%-3.89%27.43%4.57%2.71%6.98%4.03%19.47%
Return on Assets (ROA)13.99%8.06%7.19%8.05%7.94%3.4%10.51%10.01%12.87%
Accounts Payable43.2M12.8M21M28.5M19.5M27.5M24.7M17.9M686.9M
Total Debt1.24B1.22B914.3M1.34B1.43B1.87B1.61B1.6B1.68B
Net Debt1.09B940.3M685M1.09B1.09B1.44B1.07B679M-531.8M
Long-Term Debt1.24B915.6M867.6M1.14B1.3B1.44B1.44B1.44B1.56B
Short-Term Debt0299.8M068.7M0304.7M000
Other Liabilities95M131.7M162.7M209.4M239.2M266.9M311.3M348.1M0
Total Current Liabilities334M595.9M281.6M1.31B1.17B1.48B1.38B1.4B2.36B
Total Non-Current Liabilities1.82B1.48B1.48B1.85B2.04B2.06B2.12B2.11B1.8B
Total Liabilities2.16B2.08B1.76B3.17B3.21B3.53B3.5B3.51B4.17B
Total Equity
3.11B▲ 0%
3.24B▲ 4.2%
3.36B▲ 3.5%
3.35B▼ 0.2%
3.6B▲ 7.6%
3.47B▼ 3.9%
3.98B▲ 15.0%
4.28B▲ 7.4%
5.14B▲ 20.1%
Equity Growth %878.48%4.19%3.54%-0.2%7.64%-3.87%15%7.39%20.06%
Equity / Assets (Capital Ratio)59.07%60.91%65.62%51.39%52.9%49.51%53.22%54.94%55.22%
Return on Equity (ROE)23.43%13.43%11.37%13.97%15.21%6.65%20.44%18.51%23.36%
Book Value per Share28.9428.8930.0130.6433.6332.4837.5240.5648.89
Tangible BV per Share-13.95-10.43-8.20-11.67-10.16-12.37-7.16-2.546.57
Common Stock1.2M1.2M1.2M1.2M1.1M1.1M1.1M1M1M
Additional Paid-in Capital2.62B2.66B2.69B2.71B1.51B1.46B1.48B1.51B1.57B
Retained Earnings993.3M1.29B1.51B1.81B2.15B2.17B2.53B2.82B3.54B
Accumulated OCI50.7M11.5M37.6M74.6M55.6M-31M-9.4M-48.4M30.1M
Treasury Stock-558.3M-720.1M-887.1M-1.25B-106.8M-131M-10.5M-1.4M-1.5M
Preferred Stock000000000

CBOE Cash Flow Statement

Cboe Global Markets, Inc. (CBOE) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations374.4M534.7M632.8M1.46B596.8M868.6M793M1.02B1.22B
Operating CF Growth %69.09%42.82%18.35%130.53%-59.09%45.54%-8.7%29.21%19.47%
Net Income396.7M422.1M372.7M467M527.3M234.1M757.5M761M1.09B
Depreciation & Amortization192.2M204M176.6M158.5M167.4M166.8M158M133M122.4M
Deferred Taxes000000000
Other Non-Cash Items-160.4M-4.6M31.4M-10.1M15.7M334.3M-15.5M109.5M6.8M
Working Capital Changes-54.1M-86.8M52.1M843.4M-113.6M133.4M-107M21.1M100K
Cash from Investing-1.44B-25.6M-15.9M-430.5M-352.7M-835.1M-55.1M-141.8M450.2M
Purchase of Investments-140M-168M-108.8M-234.6M-311M-119.3M-146.9M-155.8M-177.3M
Sale/Maturity of Investments155.1M178.7M98M202.5M160.2M52.3M135.7M67.9M689.9M
Net Investment Activity15.1M10.7M-10.8M-32.1M-150.8M-67M-11.2M-87.9M512.6M
Acquisitions-1.41B00-351.5M-151.5M-708.3M04M0
Other Investing0030M500K600K01.1M3M8.6M
Cash from Financing1.1B-371.6M-662.9M-201.7M-200.3M81.7M-656.1M-495M-371.6M
Dividends Paid-118.1M-130.3M-150M-170.6M-193.3M-209.4M-223.5M-249.4M-284.3M
Share Repurchases-26.1M-161.8M-167.9M-363.3M-87.5M-110.4M-114.5M-225.7M-96.5M
Stock Issued2M2.1M9.3M200K00000
Net Stock Activity-24.1M-159.7M-158.6M-363.1M-87.5M-110.4M-114.5M-225.7M-96.5M
Debt Issuance (Net)1000K-1000K-1000K1000K1000K1000K-1000K00
Other Financing0-56.6M-4.3M-2.2M-9.5M-37.2M-13.1M-19.9M9.2M
Net Change in Cash
46.2M▲ 0%
131.6M▲ 184.8%
-45.8M▼ 134.8%
16.1M▲ 135.2%
96.5M▲ 499.4%
90.8M▼ 5.9%
115.6M▲ 27.3%
372M▲ 221.8%
36.2M▼ 90.3%
Exchange Rate Effect8.6M-5.9M200K-810.5M52.7M-24.4M33.8M-15.8M-1.27B
Cash at Beginning97.3M143.5M275.1M229.3M245.4M341.9M432.7M548.3M920.3M
Cash at End143.5M275.1M229.3M245.4M341.9M432.7M548.3M920.3M956.5M
Interest Paid27M38.7M029.2M42.1M51M56.7M100.1M0
Income Taxes Paid177.4M213.4M0191.5M209.8M271.1M286.4M362.4M0
Free Cash Flow
336.9M▲ 0%
498.4M▲ 47.9%
597.7M▲ 19.9%
1.41B▲ 136.1%
545.8M▼ 61.3%
808.8M▲ 48.2%
748M▼ 7.5%
963.7M▲ 28.8%
1.15B▲ 19.7%
FCF Growth %90.33%47.94%19.92%136.14%-61.33%48.19%-7.52%28.84%19.65%

CBOE Banking Ratios

Cboe Global Markets, Inc. (CBOE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)64.69%23.43%13.43%11.37%13.97%15.21%6.65%20.44%18.51%23.36%
Return on Assets (ROA)43.37%13.99%8.06%7.19%8.05%7.94%3.4%10.51%10.01%12.87%
Net Interest Margin-1.2%-0.78%-0.72%-0.7%-0.58%-0.7%-0.81%-0.67%-0.31%0.53%
Efficiency Ratio41.57%27.98%22.3%24.03%17.28%19.18%31.63%22.79%23.79%16.81%
Equity / Assets66.69%59.07%60.91%65.62%51.39%52.9%49.51%53.22%54.94%55.22%
Book Value / Share328.9428.8930.0130.6433.6332.4837.5240.5648.89
NII Growth--624.56%7.51%6.02%-4.74%-26.06%-18.99%10.64%51.98%304.13%
Dividend Payout42.02%29.4%30.55%40.01%36.44%36.54%89.11%29.35%32.61%25.85%

CBOE SEC Filings & Documents

Cboe Global Markets, Inc. (CBOE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Feb 6, 2026·SEC

Material company update

Jan 26, 2026·SEC

Material company update

Oct 31, 2025·SEC

10-K Annual Reports

3
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 31, 2025·SEC

FY 2025

Aug 1, 2025·SEC

FY 2025

May 2, 2025·SEC

CBOE Frequently Asked Questions

Cboe Global Markets, Inc. (CBOE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Cboe Global Markets, Inc. (CBOE) grew revenue by 15.1% over the past year. This is strong growth.

Yes, Cboe Global Markets, Inc. (CBOE) is profitable, generating $1.10B in net income for fiscal year 2025 (23.3% net margin).

Dividend & Returns

Yes, Cboe Global Markets, Inc. (CBOE) pays a dividend with a yield of 0.79%. This makes it attractive for income-focused investors.

Cboe Global Markets, Inc. (CBOE) has a return on equity (ROE) of 23.4%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Cboe Global Markets, Inc. (CBOE) has a net interest margin (NIM) of 0.5%. NIM has been under pressure due to interest rate environment.

Cboe Global Markets, Inc. (CBOE) has an efficiency ratio of 16.8%. This is excellent, indicating strong cost control.

Explore More CBOE

Cboe Global Markets, Inc. (CBOE) financial analysis — history, returns, DCA and operating performance tools

Full CBOE Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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