CBOE GLOBAL MARKETS INC (CBOE) Fundamental Analysis & Valuation

NYSEARCA:CBOE • US12503M1080

Current stock price

279.94 USD
-2.36 (-0.84%)
Last:

This CBOE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. CBOE Profitability Analysis

1.1 Basic Checks

  • CBOE had positive earnings in the past year.
  • In the past year CBOE had a positive cash flow from operations.
  • Each year in the past 5 years CBOE has been profitable.
  • CBOE had a positive operating cash flow in each of the past 5 years.
CBOE Yearly Net Income VS EBIT VS OCF VS FCFCBOE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

1.2 Ratios

  • CBOE's Return On Assets of 11.77% is amongst the best of the industry. CBOE outperforms 87.08% of its industry peers.
  • With an excellent Return On Equity value of 21.31%, CBOE belongs to the best of the industry, outperforming 84.58% of the companies in the same industry.
  • CBOE has a better Return On Invested Capital (15.35%) than 88.33% of its industry peers.
  • CBOE had an Average Return On Invested Capital over the past 3 years of 13.55%. This is significantly above the industry average of 7.25%.
  • The last Return On Invested Capital (15.35%) for CBOE is above the 3 year average (13.55%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 11.77%
ROE 21.31%
ROIC 15.35%
ROA(3y)10.55%
ROA(5y)8.55%
ROE(3y)19.37%
ROE(5y)15.9%
ROIC(3y)13.55%
ROIC(5y)12.65%
CBOE Yearly ROA, ROE, ROICCBOE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

1.3 Margins

  • With a decent Profit Margin value of 23.22%, CBOE is doing good in the industry, outperforming 60.83% of the companies in the same industry.
  • CBOE's Profit Margin has improved in the last couple of years.
  • CBOE has a better Operating Margin (32.12%) than 62.08% of its industry peers.
  • CBOE's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 51.53%, CBOE perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
  • CBOE's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 32.12%
PM (TTM) 23.22%
GM 51.53%
OM growth 3Y9.42%
OM growth 5Y9.25%
PM growth 3Y57.77%
PM growth 5Y11.25%
GM growth 3Y5.41%
GM growth 5Y7.08%
CBOE Yearly Profit, Operating, Gross MarginsCBOE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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7

2. CBOE Health Analysis

2.1 Basic Checks

  • CBOE has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for CBOE has been reduced compared to 5 years ago.
  • CBOE has a better debt/assets ratio than last year.
CBOE Yearly Shares OutstandingCBOE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
CBOE Yearly Total Debt VS Total AssetsCBOE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • CBOE has an Altman-Z score of 6.10. This indicates that CBOE is financially healthy and has little risk of bankruptcy at the moment.
  • CBOE's Altman-Z score of 6.10 is amongst the best of the industry. CBOE outperforms 88.33% of its industry peers.
  • CBOE has a debt to FCF ratio of 0.86. This is a very positive value and a sign of high solvency as it would only need 0.86 years to pay back of all of its debts.
  • CBOE's Debt to FCF ratio of 0.86 is amongst the best of the industry. CBOE outperforms 88.33% of its industry peers.
  • A Debt/Equity ratio of 0.28 indicates that CBOE is not too dependend on debt financing.
  • CBOE's Debt to Equity ratio of 0.28 is fine compared to the rest of the industry. CBOE outperforms 73.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 0.86
Altman-Z 6.1
ROIC/WACCN/A
WACCN/A
CBOE Yearly LT Debt VS Equity VS FCFCBOE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.3 Liquidity

  • A Current Ratio of 1.87 indicates that CBOE should not have too much problems paying its short term obligations.
  • With a decent Current ratio value of 1.87, CBOE is doing good in the industry, outperforming 73.33% of the companies in the same industry.
  • A Quick Ratio of 1.87 indicates that CBOE should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.87, CBOE is in the better half of the industry, outperforming 73.75% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.87
Quick Ratio 1.87
CBOE Yearly Current Assets VS Current LiabilitesCBOE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

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5

3. CBOE Growth Analysis

3.1 Past

  • CBOE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.01%, which is quite impressive.
  • Measured over the past years, CBOE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.15% on average per year.
  • The Revenue has grown by 15.13% in the past year. This is quite good.
  • Measured over the past years, CBOE shows a small growth in Revenue. The Revenue has been growing by 6.59% on average per year.
EPS 1Y (TTM)24.01%
EPS 3Y15.49%
EPS 5Y15.15%
EPS Q2Q%45.71%
Revenue 1Y (TTM)15.13%
Revenue growth 3Y6%
Revenue growth 5Y6.59%
Sales Q2Q%27.95%

3.2 Future

  • The Earnings Per Share is expected to grow by 9.83% on average over the next years. This is quite good.
  • CBOE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.32% yearly.
EPS Next Y12.21%
EPS Next 2Y9.96%
EPS Next 3Y8.63%
EPS Next 5Y9.83%
Revenue Next Year7.3%
Revenue Next 2Y5.98%
Revenue Next 3Y5.4%
Revenue Next 5Y5.32%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
CBOE Yearly Revenue VS EstimatesCBOE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B
CBOE Yearly EPS VS EstimatesCBOE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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3

4. CBOE Valuation Analysis

4.1 Price/Earnings Ratio

  • CBOE is valuated quite expensively with a Price/Earnings ratio of 26.19.
  • 72.50% of the companies in the same industry are cheaper than CBOE, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 24.75, CBOE is valued at the same level.
  • With a Price/Forward Earnings ratio of 23.34, CBOE is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, CBOE is valued a bit more expensive than the industry average as 63.75% of the companies are valued more cheaply.
  • CBOE is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 26.19
Fwd PE 23.34
CBOE Price Earnings VS Forward Price EarningsCBOE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 74.17% of the companies in the same industry are more expensive than CBOE, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of CBOE indicates a somewhat cheap valuation: CBOE is cheaper than 63.33% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 17.42
EV/EBITDA 17.54
CBOE Per share dataCBOE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CBOE does not grow enough to justify the current Price/Earnings ratio.
  • CBOE has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.15
PEG (5Y)1.73
EPS Next 2Y9.96%
EPS Next 3Y8.63%

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5

5. CBOE Dividend Analysis

5.1 Amount

  • CBOE has a Yearly Dividend Yield of 1.03%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 6.85, CBOE is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.89, CBOE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.03%

5.2 History

  • On average, the dividend of CBOE grows each year by 11.65%, which is quite nice.
  • CBOE has paid a dividend for at least 10 years, which is a reliable track record.
  • CBOE has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)11.65%
Div Incr Years11
Div Non Decr Years11
CBOE Yearly Dividends per shareCBOE Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • CBOE pays out 25.97% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of CBOE is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP25.97%
EPS Next 2Y9.96%
EPS Next 3Y8.63%
CBOE Yearly Income VS Free CF VS DividendCBOE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
CBOE Dividend Payout.CBOE Dividend Payout, showing the Payout Ratio.CBOE Dividend Payout.PayoutRetained Earnings

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CBOE Fundamentals: All Metrics, Ratios and Statistics

CBOE GLOBAL MARKETS INC

NYSEARCA:CBOE (3/31/2026, 3:34:01 PM)

279.94

-2.36 (-0.84%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-06
Earnings (Next)04-30
Inst Owners89.26%
Inst Owner Change0.5%
Ins Owners0.15%
Ins Owner Change3.14%
Market Cap29.30B
Revenue(TTM)4.71B
Net Income(TTM)1.09B
Analysts67.83
Price Target298.44 (6.61%)
Short Float %3.11%
Short Ratio3.54
Dividend
Industry RankSector Rank
Dividend Yield 1.03%
Yearly Dividend2.72
Dividend Growth(5Y)11.65%
DP25.97%
Div Incr Years11
Div Non Decr Years11
Ex-Date02-27
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.85%
Min EPS beat(2)2.12%
Max EPS beat(2)3.58%
EPS beat(4)3
Avg EPS beat(4)2.24%
Min EPS beat(4)-0.39%
Max EPS beat(4)3.67%
EPS beat(8)5
Avg EPS beat(8)1.14%
EPS beat(12)6
Avg EPS beat(12)1.22%
EPS beat(16)9
Avg EPS beat(16)1.08%
Revenue beat(2)1
Avg Revenue beat(2)0.26%
Min Revenue beat(2)-0.28%
Max Revenue beat(2)0.79%
Revenue beat(4)1
Avg Revenue beat(4)-0.15%
Min Revenue beat(4)-1.05%
Max Revenue beat(4)0.79%
Revenue beat(8)1
Avg Revenue beat(8)-1.14%
Revenue beat(12)1
Avg Revenue beat(12)-1.81%
Revenue beat(16)5
Avg Revenue beat(16)29.73%
PT rev (1m)2.21%
PT rev (3m)9.86%
EPS NQ rev (1m)1.75%
EPS NQ rev (3m)9.66%
EPS NY rev (1m)5.23%
EPS NY rev (3m)5.9%
Revenue NQ rev (1m)1.43%
Revenue NQ rev (3m)6.08%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.93%
Valuation
Industry RankSector Rank
PE 26.19
Fwd PE 23.34
P/S 6.22
P/FCF 17.42
P/OCF 16.72
P/B 5.7
P/tB 45.53
EV/EBITDA 17.54
EPS(TTM)10.69
EY3.82%
EPS(NY)11.99
Fwd EY4.28%
FCF(TTM)16.07
FCFY5.74%
OCF(TTM)16.74
OCFY5.98%
SpS45.04
BVpS49.09
TBVpS6.15
PEG (NY)2.15
PEG (5Y)1.73
Graham Number108.66
Profitability
Industry RankSector Rank
ROA 11.77%
ROE 21.31%
ROCE 21.81%
ROIC 15.35%
ROICexc 22.72%
ROICexgc 544.92%
OM 32.12%
PM (TTM) 23.22%
GM 51.53%
FCFM 35.67%
ROA(3y)10.55%
ROA(5y)8.55%
ROE(3y)19.37%
ROE(5y)15.9%
ROIC(3y)13.55%
ROIC(5y)12.65%
ROICexc(3y)17.28%
ROICexc(5y)15.3%
ROICexgc(3y)248.39%
ROICexgc(5y)257.51%
ROCE(3y)19.24%
ROCE(5y)17.97%
ROICexgc growth 3Y7.88%
ROICexgc growth 5Y17.4%
ROICexc growth 3Y18.46%
ROICexc growth 5Y17.3%
OM growth 3Y9.42%
OM growth 5Y9.25%
PM growth 3Y57.77%
PM growth 5Y11.25%
GM growth 3Y5.41%
GM growth 5Y7.08%
F-Score8
Asset Turnover0.51
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 0.86
Debt/EBITDA 0.88
Cap/Depr 58.01%
Cap/Sales 1.51%
Interest Coverage 16.51
Cash Conversion 107.09%
Profit Quality 153.6%
Current Ratio 1.87
Quick Ratio 1.87
Altman-Z 6.1
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)44.09%
Cap/Depr(5y)39.72%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.43%
Profit Quality(3y)142.09%
Profit Quality(5y)156.47%
High Growth Momentum
Growth
EPS 1Y (TTM)24.01%
EPS 3Y15.49%
EPS 5Y15.15%
EPS Q2Q%45.71%
EPS Next Y12.21%
EPS Next 2Y9.96%
EPS Next 3Y8.63%
EPS Next 5Y9.83%
Revenue 1Y (TTM)15.13%
Revenue growth 3Y6%
Revenue growth 5Y6.59%
Sales Q2Q%27.95%
Revenue Next Year7.3%
Revenue Next 2Y5.98%
Revenue Next 3Y5.4%
Revenue Next 5Y5.32%
EBIT growth 1Y28.24%
EBIT growth 3Y15.98%
EBIT growth 5Y16.44%
EBIT Next Year13.23%
EBIT Next 3Y7.87%
EBIT Next 5Y6.74%
FCF growth 1Y61.74%
FCF growth 3Y41.68%
FCF growth 5Y3.57%
OCF growth 1Y59.24%
OCF growth 3Y39.11%
OCF growth 5Y3.74%

CBOE GLOBAL MARKETS INC / CBOE Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for CBOE GLOBAL MARKETS INC?

ChartMill assigns a fundamental rating of 6 / 10 to CBOE.


What is the valuation status for CBOE stock?

ChartMill assigns a valuation rating of 3 / 10 to CBOE GLOBAL MARKETS INC (CBOE). This can be considered as Overvalued.


Can you provide the profitability details for CBOE GLOBAL MARKETS INC?

CBOE GLOBAL MARKETS INC (CBOE) has a profitability rating of 9 / 10.


Can you provide the financial health for CBOE stock?

The financial health rating of CBOE GLOBAL MARKETS INC (CBOE) is 7 / 10.


How sustainable is the dividend of CBOE GLOBAL MARKETS INC (CBOE) stock?

The dividend rating of CBOE GLOBAL MARKETS INC (CBOE) is 5 / 10 and the dividend payout ratio is 25.97%.