Inside the research
Cboe Global Markets, Inc.
CBOE Research profile · latest available data
Price overview
$258.03
▼ -9.54 (-3.6%)
| 52w hi | $364.92 |
|---|---|
| 52w lo | $230.87 |
| Vol | 1.31M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.02
| Short | -0.31 |
|---|---|
| Medium | +0.11 |
| Long | +0.49 |
computed 2026-09-27
Key fundamentals
Cboe Global Markets, Inc.
Financial Services · Financial Data & Stock Exchanges
| Market cap | $26.95B |
|---|---|
| Enterprise value | $26.17B |
| Trailing P/E | 20.13x |
| Forward P/E | 16.95x |
| EV / EBITDA | 13.56x |
| P / S (ttm) | 5.32x |
| Profit margin | 26.7% |
| Return on equity | 26.3% |
| Revenue growth | +22.9% |
| Earnings growth | +50.2% |
| Debt / equity | 28.09 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.41 | |
| Sector | +0.02 | |
| Technical | +0.01 | |
| Earnings | +0.00 | |
| Sentiment | -0.35 |
macro × 1.00 · 2026-09-27
Business overview
Cboe Global Markets, Inc., through its subsidiaries, operates as a derivatives and securities exchange network that delivers trading, clearing, and investment solutions in the United States and internationally. It operates through five segments: Options, North American Equities, Europe and Asia Pacific, Futures, and Global FX. The Options segment includes options on market indices, stocks of individual corporations, and exchange-traded products (ETPs), such as exchange-traded funds (ETFs) and exchange-traded notes (ETNs). This segment also offers trading in listed options through a single system. The North American Equities segment comprises U.S. equities and ETP transaction services. This segment also includes listing services on Cboe Canada, ETP listings on BZX, the Cboe Global Markets, Inc. common stock listing, and applicable market data. The Europe and Asia Pacific segment provides pan-European derivatives transaction services; ETPs, including exchange-traded funds, exchange-traded notes, and exchange-traded commodities; international depository receipts; and an ETP listings business on regulated markets and clearing activities, as well as equities services. The Futures segment offers transaction services, including trading in VIX futures and other futures products, the licensing of proprietary market data, and access and capacity services. The Global FX segment provides institutional foreign exchange (FX) trading and non-deliverable forward FX transaction services. The company also provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. It has strategic relationships with S&P Dow Jones Indices, LLC; Frank Russell Company; and FTSE International Limited. The company was formerly known as CBOE Holdings, Inc. and changed its name to Cboe Global Markets, Inc. in October 2017. Cboe Global Markets, Inc. was founded in 1973 and is headquartered in Chicago, Illinois.
Risk Metrics
| Beta vs SPX | -0.22 |
|---|---|
| Corr SPX | -0.12 |
| Annual vol | 28.7% |
| Annual ret | +14.9% |
| Sharpe | 0.52 |
| Max DD | -36.9% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $330.57 |
|---|---|
| High / Low | $395.00 / $273.00 |
| Median | $335.00 |
| Analysts | 14 |
| Strong Buy | 2 | |
|---|---|---|
| Buy | 1 | |
| Hold | 10 | |
| Sell | 2 | |
| Strong Sell | 2 |
Recent rating actions
| 2026-05-04 | UBS | → Neutral |
| 2026-05-04 | TD Cowen | → Hold |
| 2026-05-04 | Keefe, Bruyette & Woods | → Market Perform |
| 2026-05-04 | Barclays | → Overweight |
| 2026-04-15 | Piper Sandler | → Overweight |
| 2026-04-10 | Morgan Stanley | → Underweight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-31 | Earnings Release, Exhibits | read |
| 2026-07-28 | Material Agreement, Material Obligation… | read |
| 2026-06-26 | Material Agreement, Material Obligation… | read |
| 2026-05-18 | Shareholder Vote | read |
| 2026-05-01 | Earnings Release, Restructuring… | read |
| 2026-02-06 | Earnings Release, Exhibits | read |
| 2026-01-26 | Officer / Director Change, Other Material Event… | read |
| 2025-10-31 | Earnings Release, Exhibits | read |
| 2025-08-01 | Earnings Release, Exhibits | read |
| 2025-07-17 | Officer / Director Change, Exhibits | read |
| 2025-06-27 | Material Agreement, Material Obligation… | read |
| 2025-05-28 | Officer / Director Change, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-08-12 | Froetscher Janet P | Director | Sell | 937 | $261.38K |
| 2026-07-01 | Tomczyk Fredric J | Director | Withheld for tax | 337 | $83.48K |
| 2026-05-18 | Froetscher Janet P | Director | Sell | 1.22K | $437.94K |
| 2026-05-14 | Tomczyk Fredric J | Director | Grant | 530 | — |
| 2026-05-14 | PALMORE RODERICK A | Director | Grant | 530 | — |
| 2026-05-14 | Farrow William M III | Director | Grant | 530 | — |
| 2026-05-14 | Fitzpatrick Edward J. | Director | Grant | 530 | — |
| 2026-05-14 | Fong Ivan K | Director | Grant | 530 | — |
| 2026-05-14 | Froetscher Janet P | Director | Grant | 530 | — |
Flow & Concentration
| Insider 180d net | -$699.32K |
|---|---|
| Insider buys / sells | 0 / 2 |
| Insider bias | Neutral |
| 13F holders | 0 |
| Top-5 share | 0.0% |
| HHI | 0 (—) |
Dividends
| Yield (TTM) | 0.28% |
|---|---|
| $ / share (TTM) | $0.72 |
| 5y CAGR | -4.2% |
Annual dividend per share
| 2021 | $1.80 |
|---|---|
| 2022 | $1.96 |
| 2023 | $2.10 |
| 2024 | $2.36 |
| 2025 | $1.26 |
| 2026 | $0.72 |
SEC Filings
The Long Run
FY 2011–2025 · 15 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $703.10M | +30.3% | |
| Gross profit | $2.43B | +42.3% | |
| Operating income | $1.47B | +16.8% | |
| Net income | $1.10B | +24.1% | |
| Cash from ops | $1.75B | +24.0% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $265.19 | $268.00 | $253.45 | $258.03 | 1.31M |
| Sep 24 | $268.87 | $270.53 | $265.76 | $267.57 | 535.30K |
| Sep 23 | $265.25 | $273.34 | $265.25 | $268.87 | 830.20K |
| Sep 22 | $269.81 | $272.29 | $264.73 | $266.83 | 977.70K |
| Sep 21 | $271.38 | $275.76 | $268.65 | $271.43 | 1.03M |
Understand the score. Research layers are inputs to a model, and the available data has limits.
Read the methodology →