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CBOE US​
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Cboe Global Markets, Inc.(CBOE US)

$335.53+21.286.77%Ext:$327.77-7.762.31%(Market Closed · 00:00:02 UTC)
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ProfileEntity Structure

Documents

SEC Filings

Financials & Metrics

FinancialsChartingShort InterestEmployees

Cboe Global Markets, Inc. — Company Profile

Cboe Global Markets, Inc. functions as a global operator of various financial exchanges, primarily renowned for its options trading platforms, all managed through its numerous subsidiaries. The company organizes its expansive business activities into five distinct segments. The Options segment specializes in the trading of listed market indices. Its North American Equities division facilitates transactions for listed stocks in the United States and Canada, also offering services for exchange-traded products (ETPs), encompassing both trading and listing. The Futures segment is dedicated to futures trading. The Europe and Asia Pacific division delivers a broad range of services, including transactions for pan-European listed equities and derivatives, ETPs, exchange-traded commodities, and international depository receipts, along with ETP listing and clearing provisions. Finally, the Global FX segment serves institutional foreign exchange trading and non-deliverable forward FX transactions. Cboe Global Markets has established important strategic partnerships with key players such as S&P Dow Jones Indices, LLC; FTSE International Limited; Frank Russell Company; MSCI Inc.; and DJI Opco, LLC. The company, which originated in Chicago, Illinois, in 1973, previously operated as CBOE Holdings, Inc. until its rebranding in October 2017.

Exchange
UF
CEO
Craig Steven Donohue
Headquarters
Chicago, IL, US
IPO Date
Jun 15, 2010
Employees
1,661
Website
www.cboe.com

Key Metrics

Price
$270.73
Market Cap
$28.33B
Revenue (TTM)
$1.27B
Net Income (TTM)
$385.70M
EPS (TTM)
3.67
P/E (TTM)
22.94
P/B (TTM)
5.27
Dividend Yield
86.34%
ROE (TTM)
7.18%
ROA (TTM)
3.48%
Operating Margin
39.72%
Beta
-0.18

Dividends

Last Dividend
$0.72
Last Yield
0.86%

Summary

Cboe Global Markets, Inc. functions as a global operator of various financial exchanges, primarily renowned for its options trading platforms, all managed through its numerous subsidiaries. The company organizes its expansive business activities into five distinct segments. The Options segment specializes in the trading of listed market indices. Its North American Equities division facilitates transactions for listed stocks in the United States and Canada, also offering services for exchange-traded products (ETPs), encompassing both trading and listing. The Futures segment is dedicated to futures trading. The Europe and Asia Pacific division delivers a broad range of services, including transactions for pan-European listed equities and derivatives, ETPs, exchange-traded commodities, and international depository receipts, along with ETP listing and clearing provisions. Finally, the Global FX segment serves institutional foreign exchange trading and non-deliverable forward FX transactions. Cboe Global Markets has established important strategic partnerships with key players such as S&P Dow Jones Indices, LLC; FTSE International Limited; Frank Russell Company; MSCI Inc.; and DJI Opco, LLC. The company, which originated in Chicago, Illinois, in 1973, previously operated as CBOE Holdings, Inc. until its rebranding in October 2017.

Website
www.cboe.com
Location
Chicago, IL, US
Phone312 786 5600
Employees1,661
CEOCraig Steven Donohue
IPO DateJun 15, 2010

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Latest Documents

SEC Filings(1.5K)

Expand
  • 10-QQ3ended 30 Sept 202630 Oct
  • 8-KResults of Operations and Financial Condition30 Oct
  • 4Tomczyk Fredric J14 Oct
  • 8-KEntry into a Material Definitive Agreement29 Sep
  • 4Fischer Heidi21 Aug
  • 4Duinstra Boudewijn21 Aug
  • 4Froetscher Janet P14 Aug
  • 3Duinstra Boudewijn14 Aug
  • 144Froetscher Janet P12 Aug
  • 10-QQ2ended 30 Jun 202631 Jul
  • 8-KResults of Operations and Financial Condition31 Jul
  • 8-KEntry into a Material Definitive Agreement28 Jul
  • 4Tomczyk Fredric J2 Jul
  • 8-KEntry into a Material Definitive Agreement26 Jun
  • 3Fischer Heidi1 Jun
  • 4Wilkinson Allen21 May
  • 4Froetscher Janet P20 May
  • 8-KSubmission of Matters to a Vote of Security Holders18 May
  • 4Tomczyk Fredric J18 May
  • 4PALMORE RODERICK A18 May

News

  • CBOE Global Markets: Attractive Valuation With Significant Growth Runway (Rating Upgrade)31 Oct
  • Cboe Global Markets, Inc. (CBOE) Q3 2026 Earnings Call Transcript30 Oct
  • CBOE Q3 Earnings Beat Estimates on Strong Options Volumes30 Oct
  • Here's What Key Metrics Tell Us About CBOE (CBOE) Q3 Earnings30 Oct
  • CBOE Global (CBOE) Q3 Earnings and Revenues Top Estimates30 Oct
  • Cboe Global Markets Reports Results for Third Quarter 202630 Oct
  • Parnassus Mid Cap Fund Q3 2026 Portfolio Review28 Oct
  • Can Cboe Global Keep its Surprise Streak Alive in Q3 Earnings?27 Oct
  • CBOE Global (CBOE) Earnings Expected to Grow: Should You Buy?23 Oct
  • Cboe Global Markets Announces Increase in Share Repurchase Authorization; Declares Fourth-Quarter 2026 Dividend22 Oct
  • Cboe Launches Extended Trading Sessions for Select Single Stock and ETF Options19 Oct
  • Cboe To Hire Catherine Grover as Executive Vice President and Chief Human Resources Officer16 Oct
  • 5 Securities & Exchanges Stocks to Watch Amid Industry Headwinds15 Oct
  • Summary Of Dividend Announcements: Q3 202615 Oct
  • Will CBOE (CBOE) Beat Estimates Again in Its Next Earnings Report?13 Oct
  • Will CBOE Maintain Strong Earnings Growth Beyond Market Volatility?13 Oct
  • PGIM to Transfer Listing of PGIM Active High Yield Bond ETF to Cboe BZX Exchange13 Oct
  • Cboe Global Markets Reports Trading Volume for September 20265 Oct
  • Cboe Global Secures 25-Year SPX Rights: Can Volume Boost Growth?5 Oct
  • Cboe Global Market's New KPI Contracts Could Open a New Growth Avenue1 Oct

Mentions in Filings

  • … e: Capital IQ (7/20/2026) Notes: 1. Organic growth reflected for ARX, traditional brokers and high growth brokers; total revenue growth for specialty insurers and tech marketplaces 2. Tech Marketplace peers include <strong>Cboe Global Markets</strong>, CME, Nasdaq, Tradeweb, and Verisk Analytics 3. Specialty Insurers peers include W. R. Berkley, Bowhead, Kinsale, Palomar, RLI, and Skyward Backup: \\Msad\root\NA\NY\LIB\IBD\D2Projects\AMER\New York\T\Project Tampa …
    Accelerant HoldingsCboe Global Markets, Inc.·EX-99.(C)(V) - SC 13E3 - EXHIBIT (C)(V)·Q4 26·30 Oct
  • … k prices as of June 17, 2026 and July 31, 2026, respectively. 2. Traditional Brokers peers include Arthur J. Gallagher, Aon, Willis Towers Watson, Marsh McLennan, and Brown & Brown 3. Tech Marketplace peers include <strong>Cboe Global Markets</strong>, CME, Nasdaq, Tradeweb, and Verisk Analytics Benchmarking Valuation Across Peers 31 P / E (’26E / ’27E) AV / EBITDA (’26E / ’27E) 7.2x / 5.7x on plan basis 12.3x / 12.4x on plan basis Other High Growth Brokers Media …
    Accelerant HoldingsCboe Global Markets, Inc.·EX-99.(C)(VII) - SC 13E3 - EXHIBIT (C)(VII)·Q4 26·30 Oct
  • … k prices as of June 17, 2026 and July 31, 2026, respectively. 2. Traditional Brokers peers include Arthur J. Gallagher, Aon, Willis Towers Watson, Marsh McLennan, and Brown & Brown 3. Tech Marketplace peers include <strong>Cboe Global Markets</strong>, CME, Nasdaq, Tradeweb, and Verisk Analytics 4. Represents operating revenue for ARX; organic growth reflected for ARX, traditional brokers and high growth brokers; total revenue growth for specialty insurers and te …
    Accelerant HoldingsCboe Global Markets, Inc.·EX-99.(C)(IX) - SC 13E3 - EXHIBIT (C)(IX)·Q4 26·30 Oct
  • … l revenue growth for specialty insurers and tech marketplaces 2. Traditional Brokers peers include Arthur J. Gallagher, Aon, Willis Towers Watson, Marsh McLennan, and Brown & Brown 3. Tech Marketplace peers include <strong>Cboe Global Markets</strong>, CME, Nasdaq, Tradeweb, and Verisk Analytics 4. LTM based on most recently available financials as of 7/31/2026 Other High Growth Brokers Median: 12% Median: 14% Median: 24% Tech / Marketplaces (3) 965 262 Consensus …
    Accelerant HoldingsCboe Global Markets, Inc.·EX-99.(C)(VI) - SC 13E3 - EXHIBIT (C)(VI)·Q4 26·30 Oct
  • … ard Specialty Insurance and Bowhead Specialty Holdings), Traditional Brokers (consisting of Arthur J. Gallagher, Aon, Willis Towers Watson, Marsh McLennan, and Brown & Brown), and Tech / Marketplaces (consisting of <strong>Cboe Global Markets</strong>, CME, Nasdaq, Tradeweb and Verisk Analytics). For the purposes of this public trading comparables analysis, Morgan Stanley calculated and analyzed, among other things, the following financial metrics of each of the …
    Accelerant HoldingsCboe Global Markets, Inc.·PREM14A - Preliminary proxy statement (merger)·Q4 26·30 Oct
  • … venue growth rate of at least 7% in at least one of the last two fiscal years for existing Index constituents, each as determined by BVP; (ii) have its primary listing on a Nasdaq, New York Stock Exchange, Inc., or <strong>Cboe Global Markets</strong> Inc. exchange; (iii) have a minimum market capitalization of $500 million; and (iv) have a minimum three-month average daily trading volume of $5 million. The Index also excludes companies based on environmental, s …
    WisdomTree TrustCboe Global Markets, Inc.·497K - WISDOMTREE CLOUD COMPUTING FUND·Q3 27·30 Oct

Key Stats

Trading

Px/Chg 1D$270.73 / -0.20%
Prev Close$298.38
% of 52Wk H79.03%
Avg Volume1.17M
Beta-0.18
Mkt Cap28.33B
FD Mkt Cap30.70B

Float

Shrs Out/Float104.65M / 104.37M
Short Float0.04%
Days to Cover1.98
Stock Repurchased$40.90M

Current Valuation

EV27.76B
EV/EBITDA14.56
EV/Sales5.79
P/B5.27
P/S5.91
FCF Yield0.22%
ROE7.18%
ROA3.48%
Current Ratio4.13

Dividend

Cash$0.72
Yield86.34%
Yield (TTM)86.34%

Estimates

P/E22.94
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24May '25Mar '26Oct '26
PRICE-BASED RATIOS
Price / Earnings56.8762.0024.1930.4094.2873.46
Price / Sales12.213.684.885.6824.5522.26
Price / Book Value5.064.204.625.435.755.27
Price / Free Cash Flow120.1118.0224.6324.1282.61451.16
ENTERPRISE VALUE METRICS
Enterprise Value23,241.716,009.119,489.523,928.229,025.027,756.6
Enterprise Value / Sales12.194.045.165.8424.1121.81
Enterprise Value / EBITDA33.3424.2715.3718.8758.4849.72
Enterprise Value / EBIT37.2032.4817.5621.0862.4252.49

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue7.8%3,494.83,958.53,773.54,094.54,714.2
Gross Income11.8%1,476.11,741.71,918.02,072.42,306.7
EBITDA15.7%971.5659.71,268.01,268.31,741.3
EBIT19.1%804.1492.91,110.01,135.31,618.9
Net Income20.1%529.0235.0761.4764.91,100.0
EPS (Diluted)20.6%4.922.207.137.2110.42
BALANCE SHEET
Cash & ST Inv56.1%379.0524.4600.71,030.62,252.6
Total Assets8.1%6,814.56,998.97,487.57,789.19,305.3
Total Liabilities6.7%3,209.73,533.63,502.53,509.54,167.0
Total Shareholder Equity9.3%3,604.83,465.33,985.04,279.65,138.3
CASH FLOW
Net Operating Cash Flow19.7%596.8868.6793.01,024.61,224.1
Cap Ex8.6%-51.0-59.8-45.0-60.9-71.0
Free Cash Flow20.6%545.8808.8748.0963.71,153.1

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)338.73
Basic Shares104.65
Market Cap35,449.4
Diluted Shares104.70
Fully Diluted Shares Outstanding104.70
Fully Diluted Market Cap35,465.0
+Consolidated Debt1,552.3
−In-the-Money Convertible Debt—
+Capital Leases-
+Operating Leases—
−Cash & Equivalents-2,662.6
−Short-term Investments-
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest-
+Pension Liabilities—
Enterprise Value34,339.1

Segment data

Revenue

by Products and services

  • Transaction And Clearing Fees76%
  • Access And Capacity Fees9%
  • Market Data Fees7%
  • Regulatory Fees6%
  • Other Revenue2%

Revenue

by Geography

  • North American Equities82%
  • Europe And Asia Pacific18%

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