(CBOE) Cboe Global Markets - Ratings and Ratios
Options, Equities, Futures, Currency, Digital
CBOE EPS (Earnings per Share)
CBOE Revenue
Description: CBOE Cboe Global Markets
Cboe Global Markets, Inc. (NASDAQ: CBOE) operates a diversified suite of exchange services across six core segments: Options, North American Equities, Europe & Asia-Pacific, Futures, Global FX, and Digital. The Options segment handles listed market-index contracts, while the North American Equities arm processes U.S. and Canadian stock trades and supports exchange-traded products (ETPs). The Europe & Asia-Pacific division adds pan-European equities, derivatives, commodities, and international depository receipts, together with ETP listing and clearing. The Futures segment provides futures and related contracts, the Global FX segment offers institutional foreign-exchange and non-deliverable forward services, and the Digital segment runs Cboe Digital (a U.S. spot crypto market), Cboe Clear Digital (a regulated clearinghouse), and monetizes proprietary market data.
Strategic partnerships with index providers-including S&P Dow Jones, FTSE International, MSCI, and Frank Russell-feed the company’s product pipeline and reinforce its role as a data-rich exchange ecosystem. The firm rebranded from CBOE Holdings to Cboe Global Markets in October 2017, reflecting its expanded international footprint since its 1973 founding in Chicago.
Key performance indicators from FY 2024 show total net revenue of approximately $2.1 billion, with the Options segment contributing roughly 55 % of that total and the Digital segment posting a year-over-year revenue growth of +38 % driven by rising crypto-spot trading volumes. Average daily trading volume across all platforms exceeded 1.2 billion contracts, indicating robust market participation despite a modest slowdown in equity-index volatility during the latter half of 2024.
Sector-level drivers that materially affect Cboe’s outlook include (1) equity-index volatility, which directly influences options premium generation; (2) macro-economic interest-rate trends, shaping futures and FX demand; and (3) regulatory developments in digital-asset markets, which can either expand Cboe Digital’s addressable market or impose compliance costs.
For a deeper quantitative dive-including peer-adjusted valuation multiples, risk-adjusted return metrics, and scenario-based sensitivity analysis-ValueRay’s analytics dashboard provides a convenient, data-rich environment to continue your research on CBOE.
CBOE Stock Overview
| Market Cap in USD | 25,062m |
| Sub-Industry | Financial Exchanges & Data |
| IPO / Inception | 2010-06-15 |
CBOE Stock Ratings
| Growth Rating | 89.8% |
| Fundamental | 90.4% |
| Dividend Rating | 64.2% |
| Return 12m vs S&P 500 | -4.55% |
| Analyst Rating | 3.64 of 5 |
CBOE Dividends
| Dividend Yield 12m | 1.12% |
| Yield on Cost 5y | 3.43% |
| Annual Growth 5y | 10.90% |
| Payout Consistency | 97.0% |
| Payout Ratio | 28.1% |
CBOE Growth Ratios
| Growth Correlation 3m | -41.2% |
| Growth Correlation 12m | 89.1% |
| Growth Correlation 5y | 95.7% |
| CAGR 5y | 25.20% |
| CAGR/Max DD 3y (Calmar Ratio) | 1.74 |
| CAGR/Mean DD 3y (Pain Ratio) | 7.08 |
| Sharpe Ratio 12m | 0.74 |
| Alpha | 2.97 |
| Beta | 0.439 |
| Volatility | 22.40% |
| Current Volume | 504k |
| Average Volume 20d | 725k |
| Stop Loss | 226.2 (-3%) |
| Signal | -0.49 |
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income (898.4m TTM) > 0 and > 6% of Revenue (6% = 271.9m TTM) |
| FCFTA 0.20 (>2.0%) and ΔFCFTA 4.15pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 29.93% (prev 19.44%; Δ 10.48pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.00 (>3.0%) and CFO -42.3m <= Net Income 898.4m (YES >=105%, WARN >=100%) |
| Net Debt (312.4m) to EBITDA (1.46b) ratio: 0.21 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.57 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (105.0m) change vs 12m ago -0.85% (target <= -2.0% for YES) |
| Gross Margin 55.51% (prev 49.58%; Δ 5.93pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 49.52% (prev 41.15%; Δ 8.37pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 26.06 (EBITDA TTM 1.46b / Interest Expense TTM 51.4m) >= 6 (WARN >= 3) |
Altman Z'' 3.88
| (A) 0.15 = (Total Current Assets 3.74b - Total Current Liabilities 2.39b) / Total Assets 9.05b |
| (B) 0.35 = Retained Earnings (Balance) 3.17b / Total Assets 9.05b |
| (C) 0.15 = EBIT TTM 1.34b / Avg Total Assets 9.15b |
| (D) 0.73 = Book Value of Equity 3.21b / Total Liabilities 4.38b |
| Total Rating: 3.88 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 90.37
| 1. Piotroski 6.50pt = 1.50 |
| 2. FCF Yield 7.18% = 3.59 |
| 3. FCF Margin 39.94% = 7.50 |
| 4. Debt/Equity 0.34 = 2.44 |
| 5. Debt/Ebitda 0.21 = 2.46 |
| 6. ROIC - WACC (= 8.90)% = 11.13 |
| 7. RoE 20.41% = 1.70 |
| 8. Rev. Trend 71.61% = 5.37 |
| 9. EPS Trend 93.40% = 4.67 |
What is the price of CBOE shares?
Over the past week, the price has changed by -2.07%, over one month by -1.41%, over three months by -0.95% and over the past year by +11.13%.
Is Cboe Global Markets a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CBOE is around 259.15 USD . This means that CBOE is currently undervalued and has a potential upside of +11.08% (Margin of Safety).
Is CBOE a buy, sell or hold?
- Strong Buy: 6
- Buy: 1
- Hold: 4
- Sell: 2
- Strong Sell: 1
What are the forecasts/targets for the CBOE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 246.7 | 5.7% |
| Analysts Target Price | 246.7 | 5.7% |
| ValueRay Target Price | 285.6 | 22.4% |
Last update: 2025-10-20 03:47
CBOE Fundamental Data Overview
P/E Trailing = 28.0914
P/E Forward = 24.8139
P/S = 5.5302
P/B = 5.4141
P/EG = 2.1289
Beta = 0.439
Revenue TTM = 4.53b USD
EBIT TTM = 1.34b USD
EBITDA TTM = 1.46b USD
Long Term Debt = 1.44b USD (from longTermDebt, last quarter)
Short Term Debt = 25.0m USD (from shortTermDebt, last quarter)
Debt = 1.60b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 312.4m USD (from netDebt column, last quarter)
Enterprise Value = 25.20b USD (25.06b + Debt 1.60b - CCE 1.47b)
Interest Coverage Ratio = 26.06 (Ebit TTM 1.34b / Interest Expense TTM 51.4m)
FCF Yield = 7.18% (FCF TTM 1.81b / Enterprise Value 25.20b)
FCF Margin = 39.94% (FCF TTM 1.81b / Revenue TTM 4.53b)
Net Margin = 19.82% (Net Income TTM 898.4m / Revenue TTM 4.53b)
Gross Margin = 55.51% ((Revenue TTM 4.53b - Cost of Revenue TTM 2.02b) / Revenue TTM)
Gross Margin QoQ = 47.50% (prev 94.79%)
Tobins Q-Ratio = 2.78 (Enterprise Value 25.20b / Total Assets 9.05b)
Interest Expense / Debt = 0.81% (Interest Expense 12.9m / Debt 1.60b)
Taxrate = 29.74% (99.5m / 334.6m)
NOPAT = 941.2m (EBIT 1.34b * (1 - 29.74%))
Current Ratio = 1.57 (Total Current Assets 3.74b / Total Current Liabilities 2.39b)
Debt / Equity = 0.34 (Debt 1.60b / totalStockholderEquity, last quarter 4.67b)
Debt / EBITDA = 0.21 (Net Debt 312.4m / EBITDA 1.46b)
Debt / FCF = 0.17 (Net Debt 312.4m / FCF TTM 1.81b)
Total Stockholder Equity = 4.40b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.93% (Net Income 898.4m / Total Assets 9.05b)
RoE = 20.41% (Net Income TTM 898.4m / Total Stockholder Equity 4.40b)
RoCE = 22.93% (EBIT 1.34b / Capital Employed (Equity 4.40b + L.T.Debt 1.44b))
RoIC = 16.11% (NOPAT 941.2m / Invested Capital 5.84b)
WACC = 7.21% (E(25.06b)/V(26.66b) * Re(7.63%) + D(1.60b)/V(26.66b) * Rd(0.81%) * (1-Tc(0.30)))
Discount Rate = 7.63% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.43%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈1.67b ; Y1≈2.06b ; Y5≈3.52b
Fair Price DCF = 572.6 (DCF Value 59.89b / Shares Outstanding 104.6m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 93.40 | EPS CAGR: 13.42% | SUE: 0.40 | # QB: 0
Revenue Correlation: 71.61 | Revenue CAGR: 6.24% | SUE: 0.82 | # QB: 0
Additional Sources for CBOE Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle