CBOE's diluted EPS climbed from $1.33 in 2024Q2 to $4.08 in 2026Q3 and the efficiency ratio fell from 31.6% to 13.2%, suggesting substantial operating leverage on a fee base that is roughly 99% non-interest income.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue held near $1.2-1.4B per quarter while diluted EPS rose from $1.33 to $4.08 and net income reached $428.2M in 2026Q3, though this margin expansion appears driven by trading activity rather than net interest income, which was only $9.6M.
Cboe’s Q4 2025 net revenue jumped 28% to $671.1 million, while the options business alone generated $433.1 million—an increase of 34% YoY. The lift was driven by a 24% rise in total options average daily volume, with index options ADV up 35% and multi‑listed options ADV up 20%.
Diluted earnings per share surged 60% in Q4 2025 to $2.97, and the full‑year diluted EPS rose 45% to $10.42. These gains reflect the company’s expanding revenue base and efficient cost management.
Cboe’s exclusive trading rights for key index options, including Zero‑Day‑to‑Expiration (0DTE) products, position it as a market leader. The high‑margin options segment is bolstered by index options ADV growth of 35% and multi‑listed options ADV up 20%.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 30, 2026 | $3.63+5.8% vs $3.43 | $712M+0.5% vs $709M |
Q3 2026 Jul 31, 2026 | $3.56+2.3% vs $3.48 | $732M+1.8% vs $719M |
Q2 2026 May 1, 2026 | $3.70+10.8% vs $3.34 | $729M+5.7% vs $690M |
Q1 2026 Feb 6, 2026 | $3.06+4.1% vs $2.94 | $671M+1.8% vs $660M |
Which exchange stock has stronger growth potential between Coinbase and Cboe Global? Let's delve deep and compare earnings outlooks, share performance and valuations to find the winner.
/PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today reported October
Cboe and Citadel Securities filed a lawsuit hours after regulators greenlighted stock perpetual futures for U.S. exchanges, putting billions in potential trading volume in legal limbo and raising questions about whether Hyperliquid's offshore advantage just got bigger.
CHICAGO, Nov. 3, 2026 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today issued the following statement in support of legal action filed by the Capital Markets Alliance (CMA) challenging the CFTC's approval of perpetual derivatives on U.S. stocks and ETFs. The CMA includes Cboe, Citadel Securities and Healthy Markets Association: "Cboe has joined this action alongside some of the largest U.S. market participants and investor advocates because we believe the CFTC's actions threaten to erode the regulatory framework that has protected investors and governed U.S. securities markets for more than nine decades," said Craig Donohue, CEO of Cboe Global Markets.
Benchmark CBOE against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Cboe Global Markets, Inc. (CBOE)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $353.27 | $36.97B | 24.98 | 15.31% | 28.33% | 26.84% | 0.77% | |
| $305.89 | $109.99B | 24.93 | 7.06% | 63.92% | 16.24% | 3.57% | |
| $172.27 | $97.15B | 23.37 | 9.27% | 33.78% | 14.05% | 1.12% | |
| $107.12 | $59.88B | 28.94 | 9.86% | 23.71% | 17.28% | 0.97% | |
| $165.59 | $5.83B | 20.00 | 3.85% | 33.87% | 23.82% | 1.89% | |
| $641.01 | $46.6B | 33.49 | 9.51% | 43.87% | — | 1.12% |
Cboe Global Markets, Inc. (CBOE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Cboe Global Markets, Inc. (CBOE) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 30, 2026·SEC
Jul 31, 2026·SEC
Jul 28, 2026·SEC
Get notified when CBOE posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Cboe Global Markets, Inc. (CBOE) stock FAQ — growth, dividends, profitability & financials explained
Cboe Global Markets, Inc. (CBOE) grew revenue by 14.4% over the trailing twelve months, compared with the twelve months before.
Yes. Cboe Global Markets, Inc. (CBOE) earned $1.48B in net income over the trailing twelve months (a 28.3% net margin).
Yes. Cboe Global Markets, Inc. (CBOE) pays a dividend that yields 0.77% at the current price, a small yield.
Cboe Global Markets, Inc. (CBOE) had a return on equity (ROE) of 26.8% over the trailing twelve months. That is well above the market's typical 10-15%.
Cboe Global Markets, Inc. (CBOE) has a net interest margin (NIM) of -0.0%. NIM has been under pressure due to interest rate environment.
Cboe Global Markets, Inc. (CBOE) has an efficiency ratio of 17.0%. This is excellent, indicating strong cost control.
