Last 47 quarters of trend data · Financial Services · Financial - Data & Stock Exchanges
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Cboe Global Markets, Inc.'s quarterly P/E stands at 21.1x, down 19.6% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 12.5% YoY to 14.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.01 | 21.13 | 21.51 | 26.14 | 23.87 | 26.26 | 24.74 | 31.97 | 23.43 | 22.55 | 20.03 | 21.98 | 20.59 |
| — | -19.6% | -13.1% | -18.2% | +1.9% | +16.5% | +23.5% | +45.5% | +13.8% | +7.1% | -3.8% | — | -26.6% | |
| P/S Ratio | 7.64 | 5.47 | 5.63 | 5.22 | 4.98 | 4.64 | 5.10 | 4.62 | 5.08 | 4.88 | 4.55 | 4.02 | 3.61 |
| — | +18.1% | +10.5% | +12.9% | -2.1% | -5.0% | +12.0% | +14.8% | +40.9% | +46.8% | +44.8% | +31.9% | +15.0% | |
| P/B Ratio | 7.04 | 5.13 | 5.27 | 5.25 | 5.34 | 4.80 | 5.12 | 4.48 | 4.84 | 4.75 | 4.37 | 3.99 | 4.03 |
| — | +6.9% | +2.9% | +17.2% | +10.5% | +1.1% | +17.2% | +12.3% | +20.0% | +23.1% | +15.2% | +8.1% | +17.6% | |
| P/FCF | 31.25 | 18.41 | 46.64 | 14.68 | 24.87 | 14.54 | 31.80 | 15.91 | 30.73 | 15.92 | 36.79 | 16.72 | 29.65 |
| — | +26.7% | +46.7% | -7.7% | -19.1% | -8.7% | -13.6% | -4.8% | +3.6% | +47.4% | +34.2% | +11.7% | +79.2% | |
| EV / EBITDA | 21.69 | 14.03 | 16.09 | 16.82 | 15.84 | 16.04 | 16.49 | 19.62 | 16.05 | 15.04 | 14.35 | 14.01 | 13.57 |
| — | -12.5% | -2.4% | -14.2% | -1.3% | +6.6% | +14.9% | +40.1% | +18.2% | +20.0% | +12.9% | — | +14.6% | |
| EV / EBIT | 23.44 | 15.06 | 14.56 | 17.86 | 16.76 | 18.13 | 17.38 | 21.99 | 16.82 | 16.61 | 15.59 | 15.42 | 14.80 |
| — | -16.9% | -16.2% | -18.8% | -0.3% | +9.1% | +11.5% | +42.6% | +13.6% | +13.5% | +8.2% | — | +5.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Cboe Global Markets, Inc.'s operating margin was 35.6% in Q4 2025, up 3.2 pp QoQ and up 8.7 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 31.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 12.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.9% | 53.1% | 53.0% | 50.0% | 47.3% | 47.4% | 50.4% | 52.8% | 52.5% | 51.5% | 52.9% | 51.5% | 47.7% |
| — | +12.2% | +5.2% | -5.1% | -9.8% | -8.1% | -4.7% | +2.5% | +10.0% | +13.2% | +18.7% | +19.6% | +11.2% | |
| Operating Margin | 32.1% | 35.6% | 32.4% | 28.9% | 29.6% | 27.0% | 29.1% | 21.6% | 29.5% | 30.3% | 29.8% | 27.0% | 25.1% |
| — | +32.1% | +11.4% | +34.0% | +0.4% | -11.2% | -2.4% | -20.0% | +17.6% | +21.7% | +25.2% | +212.0% | +2.0% | |
| Net Margin | 23.3% | 26.0% | 26.3% | 20.0% | 21.0% | 17.7% | 20.7% | 14.4% | 21.9% | 21.9% | 22.9% | 18.5% | 17.5% |
| — | +46.8% | +27.3% | +39.0% | -4.2% | -18.9% | -9.7% | -22.0% | +24.7% | +37.7% | +52.1% | +198.8% | +56.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.4% | 6.3% | 6.3% | 5.2% | 5.7% | 4.6% | 5.3% | 3.5% | 5.2% | 5.5% | 5.6% | 4.7% | 5.0% |
| — | +35.1% | +18.6% | +47.8% | +9.7% | -15.1% | -5.0% | -25.1% | +5.7% | +15.4% | +22.4% | +186.2% | +62.6% | |
| ROA | 12.9% | 3.4% | 3.3% | 2.7% | 3.0% | 2.4% | 2.4% | 1.6% | 2.7% | 2.8% | 2.8% | 2.2% | 2.3% |
| — | +43.3% | +36.5% | +64.5% | +13.7% | -14.5% | -12.8% | -27.4% | +15.1% | +24.7% | +37.7% | +194.4% | +60.0% | |
| ROIC | 17.9% | 4.8% | 4.4% | 4.1% | 4.4% | 3.8% | 4.0% | 2.8% | 3.8% | 4.0% | 3.7% | 3.4% | 3.5% |
| — | +26.3% | +8.0% | +47.2% | +17.9% | -4.1% | +7.7% | -17.3% | +9.2% | +12.9% | +12.3% | +201.5% | -0.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Cboe Global Markets, Inc.'s Debt/EBITDA ratio is 3.7x, down from 4.0x last quarter — at a moderate level that warrants monitoring. The current ratio has improved 5.3% YoY to 1.87x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.33 | 0.33 | 0.33 | 0.34 | 0.36 | 0.37 | 0.38 | 0.39 | 0.40 | 0.40 | 0.44 | 0.48 | 0.53 |
| — | -12.3% | -14.4% | -13.1% | -9.7% | -7.5% | -13.0% | -17.0% | -25.3% | -25.1% | -27.5% | -26.0% | +9.7% | |
| Debt / EBITDA | 1.03 | 3.66 | 3.97 | 4.34 | 4.17 | 4.84 | 4.73 | 6.56 | 5.02 | 4.85 | 5.36 | 6.13 | 6.53 |
| — | -24.3% | -16.0% | -33.9% | -16.9% | -0.3% | -11.7% | +7.2% | -23.1% | -23.5% | -25.3% | — | +5.6% | |
| Current Ratio | 1.87 | 1.87 | 1.72 | 1.57 | 1.60 | 1.78 | 1.39 | 1.23 | 1.33 | 1.43 | 1.23 | 1.19 | 1.07 |
| — | +5.3% | +23.7% | +27.0% | +20.2% | +24.2% | +12.7% | +3.9% | +24.9% | +35.8% | +0.3% | -1.7% | -14.9% | |
| Quick Ratio | 1.87 | 1.87 | 1.72 | 1.57 | 1.60 | 1.78 | 1.39 | 1.23 | 1.33 | 1.43 | 1.23 | 1.19 | 1.07 |
| — | +5.3% | +23.7% | +27.0% | +20.2% | +24.2% | +12.7% | +3.9% | +24.9% | +35.8% | +0.3% | -1.7% | -14.9% | |
| Interest Coverage | — | — | 33.34 | 26.94 | 28.36 | 22.68 | 25.14 | 16.86 | 23.47 | 22.78 | 18.54 | 15.48 | 15.51 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying CBOE stock.
Cboe Global Markets, Inc.'s current P/E is 33.0x. The average P/E over the last 4 quarters is 23.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Cboe Global Markets, Inc.'s current operating margin is 32.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Cboe Global Markets, Inc.'s business trajectory between earnings reports.