CBOE GLOBAL MARKETS INC (CBOE) Fundamental Analysis & Valuation

NYSEARCA:CBOE • US12503M1080

Current stock price

326.96 USD
+26.87 (+8.95%)
At close:
328.862 USD
+1.9 (+0.58%)
After Hours:

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

8

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.
  • CBOE had positive earnings in each of the past 5 years.
  • Each year in the past 5 years CBOE had a positive operating cash flow.
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

  • Looking at the Return On Assets, with a value of 11.77%, CBOE belongs to the top of the industry, outperforming 87.03% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 21.31%, CBOE belongs to the top of the industry, outperforming 84.10% of the companies in the same industry.
  • CBOE's Return On Invested Capital of 15.35% is amongst the best of the industry. CBOE outperforms 87.87% 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 7.31%.
  • The 3 year average ROIC (13.55%) for CBOE is below the current ROIC(15.35%), indicating increased profibility in the last year.
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

  • CBOE has a Profit Margin of 23.22%. This is comparable to the rest of the industry: CBOE outperforms 59.83% of its industry peers.
  • CBOE's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 32.12%, CBOE is in the better half of the industry, outperforming 61.09% of the companies in the same industry.
  • In the last couple of years the Operating Margin of CBOE has grown nicely.
  • CBOE's Gross Margin of 51.53% is in line compared to the rest of the industry. CBOE outperforms 57.74% of its industry peers.
  • 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

  • Compared to 1 year ago, CBOE has about the same amount of shares outstanding.
  • 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

  • An Altman-Z score of 6.37 indicates that CBOE is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 6.37, CBOE belongs to the top of the industry, outperforming 89.54% of the companies in the same industry.
  • 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.
  • With an excellent Debt to FCF ratio value of 0.86, CBOE belongs to the best of the industry, outperforming 88.28% of the companies in the same industry.
  • CBOE has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
  • CBOE has a Debt to Equity ratio of 0.28. This is in the better half of the industry: CBOE outperforms 74.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 0.86
Altman-Z 6.37
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.
  • Looking at the Current ratio, with a value of 1.87, CBOE is in the better half of the industry, outperforming 72.80% 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 73.22% 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.
  • CBOE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.13%.
  • 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

  • CBOE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.16% yearly.
  • Based on estimates for the next years, CBOE will show a small growth in Revenue. The Revenue will grow by 5.41% on average per year.
EPS Next Y13.99%
EPS Next 2Y10.9%
EPS Next 3Y9.02%
EPS Next 5Y10.16%
Revenue Next Year9.85%
Revenue Next 2Y6.65%
Revenue Next 3Y6.15%
Revenue Next 5Y5.41%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past 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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2

4. CBOE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 30.59, which means the current valuation is very expensive for CBOE.
  • 72.38% of the companies in the same industry are cheaper than CBOE, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of CBOE to the average of the S&P500 Index (26.64), we can say CBOE is valued inline with the index average.
  • CBOE is valuated quite expensively with a Price/Forward Earnings ratio of 26.83.
  • Based on the Price/Forward Earnings ratio, CBOE is valued a bit more expensive than the industry average as 66.11% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of CBOE to the average of the S&P500 Index (21.36), we can say CBOE is valued slightly more expensively.
Industry RankSector Rank
PE 30.59
Fwd PE 26.83
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

  • CBOE's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CBOE is cheaper than 68.62% of the companies in the same industry.
  • CBOE's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 20.36
EV/EBITDA 18.69
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 an expensive valuation of the company.
  • The excellent profitability rating of CBOE may justify a higher PE ratio.
PEG (NY)2.19
PEG (5Y)2.02
EPS Next 2Y10.9%
EPS Next 3Y9.02%

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5

5. CBOE Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.96%, CBOE is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 6.46, CBOE is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.80, CBOE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.96%

5.2 History

  • The dividend of CBOE is nicely growing with an annual growth rate of 11.65%!
  • CBOE has been paying a dividend for at least 10 years, so it has 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 Years12
Div Non Decr Years12
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.
  • CBOE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP25.97%
EPS Next 2Y10.9%
EPS Next 3Y9.02%
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 (5/1/2026, 8:13:47 PM)

After market: 328.862 +1.9 (+0.58%)

326.96

+26.87 (+8.95%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Industry Strength14.91
Industry Growth55.9
Earnings (Last)05-01
Earnings (Next)07-30
Inst Owners89.35%
Inst Owner Change0.13%
Ins Owners0.15%
Ins Owner Change2.56%
Market Cap34.25B
Revenue(TTM)4.71B
Net Income(TTM)1.09B
Analysts67.83
Price Target311.61 (-4.69%)
Short Float %3.5%
Short Ratio4.19
Dividend
Industry RankSector Rank
Dividend Yield 0.96%
Yearly Dividend2.72
Dividend Growth(5Y)11.65%
DP25.97%
Div Incr Years12
Div Non Decr Years12
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)4.37%
PT rev (3m)9.57%
EPS NQ rev (1m)8.58%
EPS NQ rev (3m)17.57%
EPS NY rev (1m)1.59%
EPS NY rev (3m)6.9%
Revenue NQ rev (1m)5.12%
Revenue NQ rev (3m)9.39%
Revenue NY rev (1m)2.38%
Revenue NY rev (3m)6.4%
Valuation
Industry RankSector Rank
PE 30.59
Fwd PE 26.83
P/S 7.26
P/FCF 20.36
P/OCF 19.54
P/B 6.66
P/tB 53.22
EV/EBITDA 18.69
EPS(TTM)10.69
EY3.27%
EPS(NY)12.19
Fwd EY3.73%
FCF(TTM)16.06
FCFY4.91%
OCF(TTM)16.73
OCFY5.12%
SpS45.01
BVpS49.06
TBVpS6.14
PEG (NY)2.19
PEG (5Y)2.02
Graham Number108.626 (-66.78%)
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 6.37
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 Y13.99%
EPS Next 2Y10.9%
EPS Next 3Y9.02%
EPS Next 5Y10.16%
Revenue 1Y (TTM)15.13%
Revenue growth 3Y6%
Revenue growth 5Y6.59%
Sales Q2Q%27.95%
Revenue Next Year9.85%
Revenue Next 2Y6.65%
Revenue Next 3Y6.15%
Revenue Next 5Y5.41%
EBIT growth 1Y28.24%
EBIT growth 3Y15.98%
EBIT growth 5Y16.44%
EBIT Next Year15.1%
EBIT Next 3Y8.17%
EBIT Next 5Y6.87%
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.


Can you provide the valuation status for CBOE GLOBAL MARKETS INC?

ChartMill assigns a valuation rating of 2 / 10 to CBOE GLOBAL MARKETS INC (CBOE). This can be considered as Overvalued.


What is the profitability of CBOE stock?

CBOE GLOBAL MARKETS INC (CBOE) has a profitability rating of 8 / 10.


How financially healthy is CBOE GLOBAL MARKETS INC?

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


What is the expected EPS growth for CBOE GLOBAL MARKETS INC (CBOE) stock?

The Earnings per Share (EPS) of CBOE GLOBAL MARKETS INC (CBOE) is expected to grow by 13.99% in the next year.