CBOE GLOBAL MARKETS INC (CBOE) Stock Fundamental Analysis
USA - NYSEARCA:CBOE - US12503M1080 - Common Stock
233.29 USD
-3.8 (-1.6%)
233.29 USD
0 (0%)
We assign a fundamental rating of 6 out of 10 to CBOE. CBOE was compared to 236 industry peers in the Capital Markets industry. While CBOE has a great profitability rating, there are some minor concerns on its financial health. CBOE is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
CBOE had positive earnings in the past year.
In the past year CBOE has reported a negative 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.
1.2 Ratios
CBOE has a better Return On Assets (9.91%) than 87.71% of its industry peers.
Looking at the Return On Equity, with a value of 19.21%, CBOE belongs to the top of the industry, outperforming 86.86% of the companies in the same industry.
CBOE's Return On Invested Capital of 14.15% is amongst the best of the industry. CBOE outperforms 90.68% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CBOE is significantly above the industry average of 7.56%.
The 3 year average ROIC (12.77%) for CBOE is below the current ROIC(14.15%), indicating increased profibility in the last year.
| 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
The Profit Margin of CBOE (19.78%) is comparable to the rest of the industry.
CBOE's Profit Margin has improved in the last couple of years.
CBOE's Operating Margin of 29.05% is in line compared to the rest of the industry. CBOE outperforms 55.08% of its industry peers.
In the last couple of years the Operating Margin of CBOE has grown nicely.
CBOE has a Gross Margin of 48.74%. This is comparable to the rest of the industry: CBOE outperforms 56.78% 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
Compared to 1 year ago, CBOE has less shares outstanding
Compared to 5 years ago, CBOE has less shares outstanding
CBOE has a better debt/assets ratio than last year.
2.2 Solvency
CBOE has an Altman-Z score of 4.99. This indicates that CBOE is financially healthy and has little risk of bankruptcy at the moment.
CBOE's Altman-Z score of 4.99 is amongst the best of the industry. CBOE outperforms 85.59% of its industry peers.
A Debt/Equity ratio of 0.31 indicates that CBOE is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.31, CBOE is in the better half of the industry, outperforming 72.88% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.31 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 4.99 |
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 66.95% of its industry peers.
A Quick Ratio of 1.57 indicates that CBOE should not have too much problems paying its short term obligations.
CBOE has a Quick ratio of 1.57. This is in the better half of the industry: CBOE outperforms 66.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.57 | ||
| Quick Ratio | 1.57 |
3. Growth
3.1 Past
CBOE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.21%, which is quite good.
Measured over the past years, CBOE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.71% on average per year.
Looking at the last year, CBOE shows a quite strong growth in Revenue. The Revenue has grown by 18.99% in the last year.
CBOE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.40% yearly.
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
CBOE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.02% yearly.
CBOE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.47% yearly.
EPS Next Y15.03%
EPS Next 2Y10.27%
EPS Next 3Y9.15%
EPS Next 5Y9.02%
Revenue Next Year11.11%
Revenue Next 2Y7.69%
Revenue Next 3Y6.71%
Revenue Next 5Y6.47%
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
With a Price/Earnings ratio of 25.14, CBOE can be considered very expensive at the moment.
Based on the Price/Earnings ratio, CBOE is valued a bit more expensive than the industry average as 66.10% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 27.77, CBOE is valued at the same level.
CBOE is valuated rather expensively with a Price/Forward Earnings ratio of 22.26.
Based on the Price/Forward Earnings ratio, CBOE is valued a bit more expensive than 61.44% of the companies in the same industry.
CBOE's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.23.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.14 | ||
| Fwd PE | 22.26 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CBOE indicates a somewhat cheap valuation: CBOE is cheaper than 76.69% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 16.78 |
4.3 Compensation for Growth
CBOE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CBOE has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.67
PEG (5Y)1.98
EPS Next 2Y10.27%
EPS Next 3Y9.15%
5. Dividend
5.1 Amount
CBOE has a Yearly Dividend Yield of 1.22%. Purely for dividend investing, there may be better candidates out there.
CBOE's Dividend Yield is slightly below the industry average, which is at 8.51.
With a Dividend Yield of 1.22, CBOE pays less dividend than the S&P500 average, which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
5.2 History
The dividend of CBOE is nicely growing with an annual growth rate of 11.94%!
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
29.62% of the earnings are spent on dividend by CBOE. This is a low number and sustainable payout ratio.
CBOE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP29.62%
EPS Next 2Y10.27%
EPS Next 3Y9.15%
233.29
-3.8 (-1.6%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners91.05%
Inst Owner Change-0.09%
Ins Owners0.18%
Ins Owner Change0.38%
Market Cap24.40B
Revenue(TTM)4.53B
Net Income(TTM)896.30M
Analysts67.2
Price Target253.4 (8.62%)
Short Float %2.73%
Short Ratio3.13
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
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)0%
PT rev (3m)5.27%
EPS NQ rev (1m)2.31%
EPS NQ rev (3m)6.99%
EPS NY rev (1m)0.33%
EPS NY rev (3m)4.44%
Revenue NQ rev (1m)1.28%
Revenue NQ rev (3m)4.2%
Revenue NY rev (1m)0.17%
Revenue NY rev (3m)2.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.14 | ||
| Fwd PE | 22.26 | ||
| P/S | 5.38 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 5.23 | ||
| P/tB | 247.46 | ||
| EV/EBITDA | 16.78 |
EPS(TTM)9.28
EY3.98%
EPS(NY)10.48
Fwd EY4.49%
FCF(TTM)-1.08
FCFYN/A
OCF(TTM)-0.4
OCFYN/A
SpS43.33
BVpS44.6
TBVpS0.94
PEG (NY)1.67
PEG (5Y)1.98
Graham Number96.51
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%
ROICexgc growth 3Y-2.02%
ROICexgc 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 | 4.99 |
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 Y15.03%
EPS Next 2Y10.27%
EPS Next 3Y9.15%
EPS Next 5Y9.02%
Revenue 1Y (TTM)18.99%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%14.31%
Revenue Next Year11.11%
Revenue Next 2Y7.69%
Revenue Next 3Y6.71%
Revenue Next 5Y6.47%
EBIT growth 1Y15.44%
EBIT growth 3Y12.85%
EBIT growth 5Y15.05%
EBIT Next Year19.33%
EBIT Next 3Y9.76%
EBIT Next 5Y8.41%
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%