CBOE
Cboe Global Markets
$289.42
▲ 0.1%Updated Aug 7, 11:30 AM ET
CBOE at a glance — five pillars scored 0–100 from real filed financials.
Overall: Favorable · 71/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 9.4% over the last 12 months
Market Cap
$26.06B
P/E
27.08x
Forward P/E (est.)
19.34x
ROE
24.6%
Revenue Growth
10.6%
EPS Growth
53.5%
Profit Margin
25.8%
FCF Yield
3.1%
Debt / Equity
0.28x
ROIC
17.0%
Interest Coverage
—
Current Ratio
1.39x
Dividend Yield
1.0%
Implied Growth (rev. DCF)
2.4%
Rating Score
71/100
Cboe Global Markets (CBOE) is a large-cap company in the Financial Exchanges & Data industry, part of the Financials sector of the S&P 500, with a market value around $26.06B.
In its latest reported year it generated about $4.71B in revenue and $1.10B in net profit.
Our model rates CBOE Favorable (71/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
Some durable-advantage evidence, but not across the board — dig into which ingredient is weak and whether it's cyclical or structural.
51.0% average over the last 3 years
±11.4 pts around 49.1% across 10 years
grew in 7 of the last 9 year-over-year periods
positive in 10 of 10 years
17.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what CBOE's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. CBOE trades near $289.42, around its 50-day average ($306.04) and 200-day average ($275.05). Price tangled in its moving averages means there is no clear trend — the stock is ranging.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 26 it is oversold — selling has been heavy and a bounce is possible.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. CBOE's is $13.00 (~4.5% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month CBOE found buyers near $227.15 (support) and sellers near $306.19 (resistance); its 52-week range is $227.15–$371.18. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 0.7× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
7.8%
Revenue moved from $703.10M in 2016 to $4.71B in 2025, a 23.5% compound annual growth rate. The most recent year grew a steady 10.6% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
51.5%
Operating Margin
31.1%
Net Margin
23.3%
ROE
24.6%
Cboe Global Markets keeps about 25.8% of each sales dollar as net profit, with a 51.5% gross margin and 31.1% operating margin. Return on equity is 24.6% and return on invested capital about 17.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$1.44B
Net Debt
-$691.00M
Net cash position
Net Debt / EBITDA
-0.47x
Debt / Equity
0.28x
Leverage: debt-to-equity is 0.3x, with a current ratio of 1.4x. That is a conservative balance sheet — a cushion in downturns. It carries roughly $1.44B of total debt against $2.13B of cash.
Operating CF
$1.75B
Free Cash Flow
$1.68B
FCF Margin
35.7%
In the latest year Cboe Global Markets produced about $1.75B of operating cash flow and $1.68B of free cash flow after capital spending. That is a free-cash-flow yield of about 3.1% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
The payout is comfortably covered by cash the business actually generates, with a raise habit behind it.
Dividend yield
1.0%
Per share (latest FY)
$2.70
Total paid (latest FY)
$284.30M
History on record
10 years
dividend uses 17% of free cash flow
26% of net income paid out
total dividends increased 9 years in a row
no cuts in the last 10 years on record
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
27.08x
P/S
6.5x
P/B
5.58x
EV / EBITDA
—
CBOE trades at 27.1x trailing earnings (about 19.3x on estimated forward earnings), 6.5x sales, and 5.6x book value. Reverse-engineering today's price implies the market expects roughly 2.4% long-term free-cash-flow growth. That is a premium multiple that needs growth to justify it.
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
DCF fair value / share
$399.45
Current price
$289.42
Starting FCF (latest 10-K)
$1.68B
Growth, years 1–5
10.6%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Where CBOE sits versus its Financials sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 141 Financials companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How CBOE stacks up against its Financials peers — valuation, profitability, and growth versus the sector median.
In the Financials sector (289 S&P 500 companies), CBOE ranks #35 of 289 by our overall rating. It trades at a premium versus the sector on earnings (27.1x P/E vs. 15.8x median) with a higher return on equity (24.6% vs. 13.6%) and slower revenue growth (10.6% vs. 15.9%).
P/E vs sector
27.1x
median 15.8x
ROE vs sector
24.6%
median 13.6%
Growth vs sector
10.6%
median 15.9%
Sector rank
#35
of 289 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Financials companies by sub-industry and size. Sector median is across all 289 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $289.42 today · expected CAGR 2% – 14%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $5.23B | $5.81B | $6.45B | $7.16B | $7.94B |
| Net income | $1.20B | $1.34B | $1.48B | $1.65B | $1.83B |
| EPS | $13.37 | $14.84 | $16.47 | $18.28 | $20.29 |
| Share price (low) | $213.88 | $237.41 | $263.52 | $292.51 | $324.69 |
| Share price (high) | $360.92 | $400.62 | $444.69 | $493.61 | $547.91 |
| CAGR (low–high) | -26% / 25% | -9% / 18% | -3% / 15% | 0% / 14% | 2% / 14% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for CBOE:
- Revenue is growing 10.6% a year, a sign of real demand.
- High net margins (25.8%) point to pricing power or efficiency.
- Strong return on equity (24.6%) shows capital is put to work well.
- A conservative balance sheet (debt/equity 0.3x) lowers risk.
- Our model's overall read is Favorable (71/100).
The case against CBOE:
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the fundamentals screen favourably: Cboe Global Markets is a large-cap financials business still growing nicely, with solid profitability, and a sound balance sheet. It trades at 27.1x earnings, which our model scores Favorable (71/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 25 Wall Street analysts covering CBOE recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Latest SEC Filings
CBOE's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
CBOE — frequently asked questions
Is CBOE a good stock to buy?
We don't give buy or sell advice. Our model rates Cboe Global Markets Favorable (71/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is CBOE's rating on The Stocks School?
Cboe Global Markets currently scores 71/100 (Favorable) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does CBOE's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Cboe Global Markets's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for CBOE calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this CBOE analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell CBOE. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.