Cboe Global Markets, Inc. (CBOE) Revenue History
Annual and quarterly revenue from 2008 to present
CBOE Revenue Over Time (2008–2025)
CBOE Revenue Growth History
15 of 17 years with positive growth- FY2008 revenue growth
- N/A
- FY2009 revenue growth
- +2.2%
- FY2010 revenue growth
- +2.6%
- FY2011 revenue growth
- +16.3%
- FY2012 revenue growth
- +0.8%
- FY2013 revenue growth
- +11.7%
- FY2014 revenue growth
- +7.9%
- FY2015 revenue growth
- +2.8%
- FY2016 revenue growth
- +1.7%
- FY2017 revenue growth
- +245.5%
- FY2018 revenue growth
- +24.2%
- FY2019 revenue growth
- -9.8%
- FY2020 revenue growth
- +37.3%
- FY2021 revenue growth
- +2.0%
- FY2022 revenue growth
- +13.3%
- FY2023 revenue growth
- -4.7%
- FY2024 revenue growth
- +8.5%
- FY2025 revenue growth
- +15.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $1.20B | — |
| Q3 2025 | $1.14B | — |
| Q2 2025 | $1.17B | — |
| Q1 2025 | $1.20B | — |
| Q4 2024 | $1.11B | — |
| Q3 2024 | $1.06B | — |
| Q2 2024 | $974.0M | — |
| Q1 2024 | $957.2M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
CBOE's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
CBOE Revenue Analysis (2008–2025)
Current Revenue & Growth
As of June 23, 2026, Cboe Global Markets, Inc. (CBOE) generated trailing twelve-month (TTM) revenue of $4.71 billion, reflecting solid growth of +8.7% year-over-year. The most recent quarter (Q4 2025) recorded $1.20 billion in revenue, up 5.5% sequentially.
Historical Growth Trajectory
CBOE's 5-year compound annual growth rate (CAGR) stands at +6.6%, indicating steady revenue expansion. The 3-year CAGR of +6.0% is below the 5-year average, signalling a growth deceleration in recent years. Cboe Global Markets, Inc.'s highest annual revenue of $4.71 billion was recorded in 2025, an all-time high.
Revenue by Segment
CBOE's revenue is primarily driven by Transaction And Clearing Fees (76%), Access And Capacity Fees (9%), and Market Data Fees (7%). With over half of revenue concentrated in Transaction And Clearing Fees, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including CME, ICE, and NDAQ. Compare CBOE vs CME →
CBOE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CBOECurrent | $4.7B | +8.7% | +6.6% | 32.1% | |
 CME | $6.5B | - | - | 64.9% | |
 ICE | $12.6B | - | - | 38.7% | |
 NDAQ | $8.2B | - | - | 28.4% | |
 MKTX | $849M | - | - | 41.2% | |
 MSCI | $3.1B | - | - | 54.7% |
CBOE Historical Revenue Data (2008–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.71B | - | $2.31B | 48.9% | $1.51B | 32.1% |
| 2024 | $4.09B | - | $2.07B | 50.6% | $1.10B | 26.8% |
| 2023 | $3.77B | - | $1.92B | 50.8% | $1.06B | 28.0% |
| 2022 | $3.96B | - | $1.74B | 44.0% | $489.6M | 12.4% |
| 2021 | $3.49B | - | $1.48B | 42.2% | $805.9M | 23.1% |
| 2020 | $3.43B | - | $1.25B | 36.6% | $662.2M | 19.3% |
| 2019 | $2.50B | - | $1.14B | 45.5% | $537.2M | 21.5% |
| 2018 | $2.77B | - | $1.22B | 44.0% | $599.4M | 21.6% |
| 2017 | $2.23B | - | $995.6M | 44.7% | $371.9M | 16.7% |
| 2016 | $645.1M | - | $566.4M | 87.8% | $298.2M | 46.2% |
| 2015 | $634.5M | - | $561.7M | 88.5% | $319.9M | 50.4% |
| 2014 | $617.2M | - | $551.1M | 89.3% | $313.8M | 50.8% |
| 2013 | $572.0M | - | $515.5M | 90.1% | $285.8M | 50.0% |
| 2012 | $512.3M | - | $466.2M | 91.0% | $244.1M | 47.6% |
| 2011 | $508.1M | - | $460.3M | 90.6% | $241.6M | 47.6% |
Full Stock Analysis
Deep dive into CBOE consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
18+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
CBOE — Frequently Asked Questions
Quick answers to the most common questions about buying CBOE stock.
Is CBOE's revenue growth accelerating or slowing?
CBOE revenue growth is holding steady at +8.7% year-over-year. TTM revenue is $4.7B. The current growth rate closely tracks the 5-year CAGR of +6.6%, signalling consistent execution.
What is CBOE's revenue history from 2008 to 2026?
Cboe Global Markets, Inc. (CBOE) revenue history spans 2008 to 2026. TTM revenue as of 2026 is $4.7B, growing at +8.7% YoY. The 5-year CAGR is +6.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CBOE's long-term revenue growth rate (CAGR)?
Cboe Global Markets, Inc.'s 5-year revenue CAGR of +6.6% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +8.7% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CBOE.
Why does CBOE's quarterly revenue fluctuate?
CBOE quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Cboe Global Markets, Inc.'s revenue data from 2008 to 2026 shows full historical quarterly detail on this page.
How is CBOE's revenue distributed by segment?
CBOE reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CBOE's revenue compare to industry peers?
Cboe Global Markets, Inc. (CBOE) with TTM revenue of $4.7B and +8.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.