CBOE GLOBAL MARKETS INC (CBOE) Stock Fundamental Analysis
NYSEARCA:CBOE - US12503M1080 - Common Stock
237.95 USD
-4.81 (-1.98%)
238 USD
+0.05 (+0.02%)
We assign a fundamental rating of 6 out of 10 to CBOE. CBOE was compared to 238 industry peers in the Capital Markets industry. While CBOE belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. CBOE is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
CBOE had positive earnings in the past year.
CBOE had a negative operating cash flow in the past year.
Each year in the past 5 years CBOE has been profitable.
Each year in the past 5 years CBOE had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 9.91%, CBOE belongs to the top of the industry, outperforming 88.24% of the companies in the same industry.
The Return On Equity of CBOE (19.21%) is better than 87.39% of its industry peers.
CBOE's Return On Invested Capital of 14.15% is amongst the best of the industry. CBOE outperforms 90.34% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CBOE is significantly above the industry average of 7.60%.
The last Return On Invested Capital (14.15%) for CBOE is above the 3 year average (12.77%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.91% | ||
| ROE | 19.21% | ||
| ROIC | 14.15% |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.77%
ROIC(5y)11.7%
1.3 Margins
CBOE has a Profit Margin (19.78%) which is in line with its industry peers.
CBOE's Profit Margin has improved in the last couple of years.
CBOE has a Operating Margin (29.05%) which is comparable to the rest of the industry.
CBOE's Operating Margin has improved in the last couple of years.
CBOE's Gross Margin of 48.74% is in line compared to the rest of the industry. CBOE outperforms 55.46% of its industry peers.
In the last couple of years the Gross Margin of CBOE has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.05% | ||
| PM (TTM) | 19.78% | ||
| GM | 48.74% |
OM growth 3Y7.05%
OM growth 5Y4.21%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
2. Health
2.1 Basic Checks
CBOE has less shares outstanding than it did 1 year ago.
The number of shares outstanding for CBOE has been reduced compared to 5 years ago.
Compared to 1 year ago, CBOE has an improved debt to assets ratio.
2.2 Solvency
CBOE has an Altman-Z score of 5.13. This indicates that CBOE is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of CBOE (5.13) is better than 85.71% of its industry peers.
CBOE has a Debt/Equity ratio of 0.31. This is a healthy value indicating a solid balance between debt and equity.
CBOE has a better Debt to Equity ratio (0.31) than 73.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.31 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 5.13 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 1.57 indicates that CBOE should not have too much problems paying its short term obligations.
CBOE has a better Current ratio (1.57) than 66.81% of its industry peers.
CBOE has a Quick Ratio of 1.57. This is a normal value and indicates that CBOE is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.57, CBOE is in the better half of the industry, outperforming 66.81% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.57 | ||
| Quick Ratio | 1.57 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.21% over the past year.
CBOE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.71% yearly.
Looking at the last year, CBOE shows a quite strong growth in Revenue. The Revenue has grown by 18.99% in the last year.
The Revenue has been growing by 10.40% on average over the past years. This is quite good.
EPS 1Y (TTM)10.21%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%14.42%
Revenue 1Y (TTM)18.99%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%14.31%
3.2 Future
The Earnings Per Share is expected to grow by 9.82% on average over the next years. This is quite good.
Based on estimates for the next years, CBOE will show a small growth in Revenue. The Revenue will grow by 5.81% on average per year.
EPS Next Y14.65%
EPS Next 2Y10.19%
EPS Next 3Y8.92%
EPS Next 5Y9.82%
Revenue Next Year10.5%
Revenue Next 2Y7.43%
Revenue Next 3Y6.41%
Revenue Next 5Y5.81%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 25.64 indicates a quite expensive valuation of CBOE.
Based on the Price/Earnings ratio, CBOE is valued a bit more expensive than 64.71% of the companies in the same industry.
When comparing the Price/Earnings ratio of CBOE to the average of the S&P500 Index (27.14), we can say CBOE is valued inline with the index average.
CBOE is valuated rather expensively with a Price/Forward Earnings ratio of 22.73.
CBOE's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. CBOE is more expensive than 62.18% of the companies in the same industry.
CBOE is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.80, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.64 | ||
| Fwd PE | 22.73 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, CBOE is valued a bit cheaper than 78.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 17.47 |
4.3 Compensation for Growth
CBOE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of CBOE may justify a higher PE ratio.
PEG (NY)1.75
PEG (5Y)2.02
EPS Next 2Y10.19%
EPS Next 3Y8.92%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.28%, CBOE has a reasonable but not impressive dividend return.
CBOE's Dividend Yield is slightly below the industry average, which is at 8.00.
With a Dividend Yield of 1.28, CBOE pays less dividend than the S&P500 average, which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
5.2 History
On average, the dividend of CBOE grows each year by 11.94%, which is quite nice.
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)11.94%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
CBOE pays out 29.62% 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.
DP29.62%
EPS Next 2Y10.19%
EPS Next 3Y8.92%
237.95
-4.81 (-1.98%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners90.27%
Inst Owner Change-1.77%
Ins Owners0.18%
Ins Owner Change-0.05%
Market Cap24.89B
Analysts69.6
Price Target253.4 (6.49%)
Short Float %3.03%
Short Ratio3.91
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
Yearly Dividend2.37
Dividend Growth(5Y)11.94%
DP29.62%
Div Incr Years11
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.64%
Min EPS beat(2)-0.39%
Max EPS beat(2)3.67%
EPS beat(4)1
Avg EPS beat(4)0.01%
Min EPS beat(4)-2.44%
Max EPS beat(4)3.67%
EPS beat(8)4
Avg EPS beat(8)1.39%
EPS beat(12)6
Avg EPS beat(12)1.13%
EPS beat(16)8
Avg EPS beat(16)1.23%
Revenue beat(2)0
Avg Revenue beat(2)-0.56%
Min Revenue beat(2)-1.05%
Max Revenue beat(2)-0.08%
Revenue beat(4)0
Avg Revenue beat(4)-1.27%
Min Revenue beat(4)-2.22%
Max Revenue beat(4)-0.08%
Revenue beat(8)0
Avg Revenue beat(8)-1.99%
Revenue beat(12)2
Avg Revenue beat(12)18.01%
Revenue beat(16)6
Avg Revenue beat(16)44.55%
PT rev (1m)5.27%
PT rev (3m)7.45%
EPS NQ rev (1m)2.58%
EPS NQ rev (3m)3.46%
EPS NY rev (1m)4.1%
EPS NY rev (3m)4.1%
Revenue NQ rev (1m)1.35%
Revenue NQ rev (3m)3.55%
Revenue NY rev (1m)1.65%
Revenue NY rev (3m)1.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.64 | ||
| Fwd PE | 22.73 | ||
| P/S | 5.49 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 5.33 | ||
| P/tB | 252.41 | ||
| EV/EBITDA | 17.47 |
EPS(TTM)9.28
EY3.9%
EPS(NY)10.47
Fwd EY4.4%
FCF(TTM)-1.08
FCFYN/A
OCF(TTM)-0.4
OCFYN/A
SpS43.33
BVpS44.6
TBVpS0.94
PEG (NY)1.75
PEG (5Y)2.02
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.91% | ||
| ROE | 19.21% | ||
| ROCE | 19.76% | ||
| ROIC | 14.15% | ||
| ROICexc | 18.14% | ||
| ROICexgc | 149.35% | ||
| OM | 29.05% | ||
| PM (TTM) | 19.78% | ||
| GM | 48.74% | ||
| FCFM | N/A |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.77%
ROIC(5y)11.7%
ROICexc(3y)14.51%
ROICexc(5y)13.03%
ROICexgc(3y)215.33%
ROICexgc(5y)200.97%
ROCE(3y)17.83%
ROCE(5y)16.33%
ROICexcg growth 3Y-2.02%
ROICexcg growth 5Y-10.65%
ROICexc growth 3Y12.17%
ROICexc growth 5Y11.24%
OM growth 3Y7.05%
OM growth 5Y4.21%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
F-Score5
Asset Turnover0.5
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.31 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 1 | ||
| Cap/Depr | 57.05% | ||
| Cap/Sales | 1.56% | ||
| Interest Coverage | 15.61 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.57 | ||
| Quick Ratio | 1.57 | ||
| Altman-Z | 5.13 |
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)36.71%
Cap/Depr(5y)34.1%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.41%
Profit Quality(3y)175.09%
Profit Quality(5y)186.2%
High Growth Momentum
Growth
EPS 1Y (TTM)10.21%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%14.42%
EPS Next Y14.65%
EPS Next 2Y10.19%
EPS Next 3Y8.92%
EPS Next 5Y9.82%
Revenue 1Y (TTM)18.99%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%14.31%
Revenue Next Year10.5%
Revenue Next 2Y7.43%
Revenue Next 3Y6.41%
Revenue Next 5Y5.81%
EBIT growth 1Y15.44%
EBIT growth 3Y12.85%
EBIT growth 5Y15.05%
EBIT Next Year18.08%
EBIT Next 3Y9.17%
EBIT Next 5Y8.01%
FCF growth 1Y-122.82%
FCF growth 3Y23.96%
FCF growth 5Y11.71%
OCF growth 1Y-107.64%
OCF growth 3Y22.63%
OCF growth 5Y11.71%