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Cboe Global MarketsCBOE

Financial Exchanges & Data · Chicago, Illinois · In the S&P 500
High qualityPricier than peers
$335.53+6.77%After hours: $335.50 (−0.01%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 44.2% over 1 year
Cboe Global Markets over 1 yearDaily close, $, to 30 Oct 2026
$250$300$350Nov2026MarMayJulSep$335.53$250$300$350NovMarJul$335.53
Source: Nasdaq daily closes
Market value$35.04B
Price to earnings172.0x
Forward P/E23.4x
Dividend yield1.03%
Year to date+33.7%
One year+44.2%
Next earningsNot scheduled
SectorFinancials
52-week range (closes)
$231.51$366.70

Quality and valuation

How Cboe Global Markets compares with other financials stocks. A description, not a recommendation.

Cboe Global Markets and 7 financial exchanges & data peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: stronger than mostValuation: pricier than most

A stronger business than most financials companies, priced above most of them.

Cboe Global Markets trades at 23.4 times the next 12 months of expected earnings, against a median of 13.0x for the 84 financials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +14.3% vs +10.2%
  • Keeps more of each sale (gross margin): 53.9% vs 46.4%
  • More profitable (operating margin): 36.4% vs 22.3%
  • Turns more of its sales into cash: 47.9% vs 20.3%
CBOE trades at 23.4x forward earnings, above the sector medianForward p/e, Financial Exchanges & Data peers
FDS16.8xCBOE23.4xCME24.0xNDAQ24.3xSPGI24.9xMCO28.0xMSCI29.7xCOIN143.2xSector median 13.0xFDS16.8xCBOE23.4xCME24.0xNDAQ24.3xSPGI24.9xMCO28.0xMSCI29.7xCOIN143.2xSector median 13.0x
Source: CNBC quotes; Mostly Markets
At 23.9x earnings, CBOE is cheaper than its average since Nov 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x25x30xAverage 27.4x2025202623.9x20x25x30xAverage 27.4x2025202623.9x
Source: Nasdaq prices; SEC filings

Financials

From Cboe Global Markets's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 19.0% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0.0bn$0.5bn$1.0bnQ4 ’24Q2 ’25Q4 ’25$1.4bnQ3 ’26$0.0bn$0.5bn$1.0bnQ4 ’24Q2 ’25Q4 ’25$1.4bnQ3 ’26
Source: SEC filings
Growth slowed to +19.0% last quarterRevenue growth, year on year, %
0%10%20%Q4 ’24Q2 ’25Q4 ’2519.0%Q3 ’260%10%20%Q4 ’24Q2 ’25Q4 ’2519.0%Q3 ’26
Source: SEC filings
Operating margin was 39.3% last quarterOperating income as a share of revenue, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’2539.3%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’2539.3%Q3 ’26
Source: SEC filings
Free cash flow was $2.5 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$1bnQ4 ’24Q2 ’25Q4 ’25$0.8bnQ3 ’26$0bn$1bnQ4 ’24Q2 ’25Q4 ’25$0.8bnQ3 ’26
Source: SEC filings
Last 12 monthsCBOESector median
Revenue growth+14.3%+10.2%
Gross margin53.9%46.4%
Operating margin36.4%22.3%
Free cash flow margin47.9%20.3%
Price to earnings172.0x14.6x

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CMECME Group$303.14+2.27%+11.0%$109B
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MSCIMSCI$623.38+0.78%+8.7%$44.57B
COINCoinbase$143.54−10.62%−36.5%$37.87B
FDSFactSet$329.57+2.98%+13.6%$11.62B
ICEIntercontinental Exchange––+4.3%–