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
Vol1.31M
As of25 Sep 2026

The Verdict

Hold

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/E20.13x
Forward P/E16.95x
EV / EBITDA13.56x
P / S (ttm)5.32x
Profit margin26.7%
Return on equity26.3%
Revenue growth+22.9%
Earnings growth+50.2%
Debt / equity28.09

Layer Breakdown

LayerRawContribution
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.

United States · www.cboe.com

Risk Metrics

Beta vs SPX-0.22
Corr SPX-0.12
Annual vol28.7%
Annual ret+14.9%
Sharpe0.52
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
Analysts14
Strong Buy2
Buy1
Hold10
Sell2
Strong Sell2

Recent rating actions

2026-05-04UBS→ Neutral
2026-05-04TD Cowen→ Hold
2026-05-04Keefe, Bruyette & Woods→ Market Perform
2026-05-04Barclays→ Overweight
2026-04-15Piper Sandler→ Overweight
2026-04-10Morgan Stanley→ Underweight

Material Events

DateEvent8-K
2026-07-31Earnings Release, Exhibitsread
2026-07-28Material Agreement, Material Obligation…read
2026-06-26Material Agreement, Material Obligation…read
2026-05-18Shareholder Voteread
2026-05-01Earnings Release, Restructuring…read
2026-02-06Earnings Release, Exhibitsread
2026-01-26Officer / Director Change, Other Material Event…read
2025-10-31Earnings Release, Exhibitsread
2025-08-01Earnings Release, Exhibitsread
2025-07-17Officer / Director Change, Exhibitsread
2025-06-27Material Agreement, Material Obligation…read
2025-05-28Officer / Director Change, Exhibitsread

Insider Trades

DateInsiderRoleActionSharesValue
2026-08-12Froetscher Janet PDirectorSell937$261.38K
2026-07-01Tomczyk Fredric JDirectorWithheld for tax337$83.48K
2026-05-18Froetscher Janet PDirectorSell1.22K$437.94K
2026-05-14Tomczyk Fredric JDirectorGrant530—
2026-05-14PALMORE RODERICK ADirectorGrant530—
2026-05-14Farrow William M IIIDirectorGrant530—
2026-05-14Fitzpatrick Edward J.DirectorGrant530—
2026-05-14Fong Ivan KDirectorGrant530—
2026-05-14Froetscher Janet PDirectorGrant530—

Flow & Concentration

Insider 180d net-$699.32K
Insider buys / sells0 / 2
Insider biasNeutral
13F holders0
Top-5 share0.0%
HHI0 (—)

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

DateFormDoc
2026-08-143view
2026-08-144view
2026-07-3110-Qview
2026-07-318-Kview
2026-07-288-Kview
2026-07-024view
2026-06-268-Kview
2026-06-013view
2026-05-214view
2026-05-204view
2026-05-184view
2026-05-188-Kview
2026-05-184view
2026-05-184view
2026-05-184view

The Long Run

FY 2011–2025 · 15 years

LineLatestCAGRTrend
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

S&P 500

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$265.19$268.00$253.45$258.031.31M
Sep 24$268.87$270.53$265.76$267.57535.30K
Sep 23$265.25$273.34$265.25$268.87830.20K
Sep 22$269.81$272.29$264.73$266.83977.70K
Sep 21$271.38$275.76$268.65$271.431.03M

Understand the score. Research layers are inputs to a model, and the available data has limits.

Read the methodology →