(CBOE) Cboe Global Markets - Overview
Exchange: BATS •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US12503M1080
Stock: Options, Futures, ETFs, Equities, FX
Total Rating 72
Risk 84
Buy Signal -0.08
| Risk 5d forecast | |
|---|---|
| Volatility | 21.0% |
| Relative Tail Risk | 1.93% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.56 |
| Alpha | 43.02 |
| Character TTM | |
|---|---|
| Beta | -0.141 |
| Beta Downside | 0.118 |
| Drawdowns 3y | |
|---|---|
| Max DD | 14.48% |
| CAGR/Max DD | 2.45 |
EPS (Earnings per Share)
Revenue
Description: CBOE Cboe Global Markets February 28, 2026
Cboe Global Markets, Inc. (ticker: CBOE) operates a multi-asset exchange network that spans derivatives, equities, futures, and institutional FX. Its business is organized into five segments: Options (including index, equity, ETF/ETN and FX options), North American Equities (U.S. stocks and ETP services), Europe & Asia-Pacific (pan-European derivatives and ETP listings), Futures (notably VIX futures and proprietary data licensing), and Global FX (institutional spot and non-deliverable forward trading). Strategic partnerships with S&P Dow Jones, Frank Russell, and FTSE bolster its index and product offerings.
In its most recent FY 2025 results, CBOE generated $2.12 billion in revenue, a 4.3 % increase year-over-year, driven by a 5 % rise in options volume and a 9 % jump in VIX-related futures trading. The firm’s options segment now accounts for roughly 23 % of U.S. listed options market share, while FX transaction volumes grew 12 % amid heightened emerging-market currency activity. Macro-level, the ongoing Federal Reserve policy tightening and elevated equity volatility have reinforced demand for hedging and volatility products, key revenue levers for CBOE.
For a deeper dive, consider reviewing ValueRay’s analyst commentary on CBOE.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 1.10b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -3.84 > 1.0 |
| NWC/Revenue: 43.68% < 20% (prev 26.47%; Δ 17.21% < -1%) |
| CFO/TA 0.09 > 3% & CFO 844.9m > Net Income 1.10b |
| Net Debt (-531.8m) to EBITDA (1.71b): -0.31 < 3 |
| Current Ratio: 1.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (105.0m) vs 12m ago -0.10% < -2% |
| Gross Margin: 50.86% > 18% (prev 0.51%; Δ 5036 % > 0.5%) |
| Asset Turnover: 55.15% > 50% (prev 52.57%; Δ 2.59% > 0%) |
| Interest Coverage Ratio: 30.26 > 6 (EBITDA TTM 1.71b / Interest Expense TTM 52.3m) |
Altman Z'' 4.84
| A: 0.22 (Total Current Assets 4.42b - Total Current Liabilities 2.36b) / Total Assets 9.31b |
| B: 0.38 (Retained Earnings 3.54b / Total Assets 9.31b) |
| C: 0.19 (EBIT TTM 1.58b / Avg Total Assets 8.55b) |
| D: 0.86 (Book Value of Equity 3.57b / Total Liabilities 4.17b) |
| Altman-Z'' Score: 4.84 = AA |
Beneish M -3.32
| DSRI: 0.66 (Receivables 391.4m/518.4m, Revenue 4.71b/4.09b) |
| GMI: 1.00 (GM 50.86% / 50.61%) |
| AQI: 0.77 (AQ_t 0.50 / AQ_t-1 0.65) |
| SGI: 1.15 (Revenue 4.71b / 4.09b) |
| TATA: 0.03 (NI 1.10b - CFO 844.9m) / TA 9.31b) |
| Beneish M-Score: -3.32 (Cap -4..+1) = AA |
What is the price of CBOE shares?
As of March 03, 2026, the stock is trading at USD 297.49 with a total of 1,138,540 shares traded.
Over the past week, the price has changed by +2.80%, over one month by +13.00%, over three months by +17.25% and over the past year by +39.94%.
Over the past week, the price has changed by +2.80%, over one month by +13.00%, over three months by +17.25% and over the past year by +39.94%.
Is CBOE a buy, sell or hold?
Cboe Global Markets has received a consensus analysts rating of 3.64.
Therefor, it is recommend to hold CBOE.
- StrongBuy: 6
- Buy: 1
- Hold: 4
- Sell: 2
- StrongSell: 1
What are the forecasts/targets for the CBOE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 282.1 | -5.2% |
| Analysts Target Price | 282.1 | -5.2% |
CBOE Fundamental Data Overview February 28, 2026
P/E Trailing = 27.9446
P/E Forward = 24.8139
P/S = 6.4884
P/B = 5.4141
P/EG = 2.1289
Revenue TTM = 4.71b USD
EBIT TTM = 1.58b USD
EBITDA TTM = 1.71b USD
Long Term Debt = 1.44b USD (from longTermDebt, two quarters ago)
Short Term Debt = 25.1m USD (from shortTermDebt, two quarters ago)
Debt = 1.68b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -531.8m USD (from netDebt column, last quarter)
Enterprise Value = 30.02b USD (30.59b + Debt 1.68b - CCE 2.25b)
Interest Coverage Ratio = 30.26 (Ebit TTM 1.58b / Interest Expense TTM 52.3m)
EV/FCF = 37.81x (Enterprise Value 30.02b / FCF TTM 793.9m)
FCF Yield = 2.64% (FCF TTM 793.9m / Enterprise Value 30.02b)
FCF Margin = 16.84% (FCF TTM 793.9m / Revenue TTM 4.71b)
Net Margin = 23.33% (Net Income TTM 1.10b / Revenue TTM 4.71b)
Gross Margin = 50.86% ((Revenue TTM 4.71b - Cost of Revenue TTM 2.32b) / Revenue TTM)
Gross Margin QoQ = 53.14% (prev 53.03%)
Tobins Q-Ratio = 3.23 (Enterprise Value 30.02b / Total Assets 9.31b)
Interest Expense / Debt = 0.79% (Interest Expense 13.3m / Debt 1.68b)
Taxrate = 30.60% (138.2m / 451.7m)
NOPAT = 1.10b (EBIT 1.58b * (1 - 30.60%))
Current Ratio = 1.87 (Total Current Assets 4.42b / Total Current Liabilities 2.36b)
Debt / Equity = 0.33 (Debt 1.68b / totalStockholderEquity, last quarter 5.14b)
Debt / EBITDA = -0.31 (Net Debt -531.8m / EBITDA 1.71b)
Debt / FCF = -0.67 (Net Debt -531.8m / FCF TTM 793.9m)
Total Stockholder Equity = 4.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.87% (Net Income 1.10b / Total Assets 9.31b)
RoE = 22.99% (Net Income TTM 1.10b / Total Stockholder Equity 4.79b)
RoCE = 25.41% (EBIT 1.58b / Capital Employed (Equity 4.79b + L.T.Debt 1.44b))
RoIC = 17.98% (NOPAT 1.10b / Invested Capital 6.11b)
WACC = 5.14% (E(30.59b)/V(32.27b) * Re(5.39%) + D(1.68b)/V(32.27b) * Rd(0.79%) * (1-Tc(0.31)))
Discount Rate = 5.39% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -0.43%
[DCF] Terminal Value 86.83% ; FCFF base≈861.8m ; Y1≈907.5m ; Y5≈1.07b
[DCF] Fair Price = 307.0 (EV 31.59b - Net Debt -531.8m = Equity 32.13b / Shares 104.6m; r=5.90% [WACC]; 5y FCF grow 5.78% → 2.90% )
EPS Correlation: 94.61 | EPS CAGR: 16.43% | SUE: 0.61 | # QB: 0
Revenue Correlation: 76.02 | Revenue CAGR: 5.80% | SUE: 3.24 | # QB: 1
EPS next Quarter (2026-06-30): EPS=2.87 | Chg7d=-0.034 | Chg30d=+0.156 | Revisions Net=+11 | Analysts=11
EPS current Year (2026-12-31): EPS=11.79 | Chg7d=+0.031 | Chg30d=+0.682 | Revisions Net=+12 | Growth EPS=+10.5% | Growth Revenue=+6.6%
EPS next Year (2027-12-31): EPS=12.60 | Chg7d=+0.133 | Chg30d=+0.686 | Revisions Net=+7 | Growth EPS=+6.8% | Growth Revenue=+4.5%
[Analyst] Revisions Ratio: +1.00 (11 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 4.4% (Discount Rate 7.9% - Earnings Yield 3.6%)
[Growth] Growth Spread = +4.2% (Analyst 8.6% - Implied 4.4%)
P/E Forward = 24.8139
P/S = 6.4884
P/B = 5.4141
P/EG = 2.1289
Revenue TTM = 4.71b USD
EBIT TTM = 1.58b USD
EBITDA TTM = 1.71b USD
Long Term Debt = 1.44b USD (from longTermDebt, two quarters ago)
Short Term Debt = 25.1m USD (from shortTermDebt, two quarters ago)
Debt = 1.68b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -531.8m USD (from netDebt column, last quarter)
Enterprise Value = 30.02b USD (30.59b + Debt 1.68b - CCE 2.25b)
Interest Coverage Ratio = 30.26 (Ebit TTM 1.58b / Interest Expense TTM 52.3m)
EV/FCF = 37.81x (Enterprise Value 30.02b / FCF TTM 793.9m)
FCF Yield = 2.64% (FCF TTM 793.9m / Enterprise Value 30.02b)
FCF Margin = 16.84% (FCF TTM 793.9m / Revenue TTM 4.71b)
Net Margin = 23.33% (Net Income TTM 1.10b / Revenue TTM 4.71b)
Gross Margin = 50.86% ((Revenue TTM 4.71b - Cost of Revenue TTM 2.32b) / Revenue TTM)
Gross Margin QoQ = 53.14% (prev 53.03%)
Tobins Q-Ratio = 3.23 (Enterprise Value 30.02b / Total Assets 9.31b)
Interest Expense / Debt = 0.79% (Interest Expense 13.3m / Debt 1.68b)
Taxrate = 30.60% (138.2m / 451.7m)
NOPAT = 1.10b (EBIT 1.58b * (1 - 30.60%))
Current Ratio = 1.87 (Total Current Assets 4.42b / Total Current Liabilities 2.36b)
Debt / Equity = 0.33 (Debt 1.68b / totalStockholderEquity, last quarter 5.14b)
Debt / EBITDA = -0.31 (Net Debt -531.8m / EBITDA 1.71b)
Debt / FCF = -0.67 (Net Debt -531.8m / FCF TTM 793.9m)
Total Stockholder Equity = 4.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.87% (Net Income 1.10b / Total Assets 9.31b)
RoE = 22.99% (Net Income TTM 1.10b / Total Stockholder Equity 4.79b)
RoCE = 25.41% (EBIT 1.58b / Capital Employed (Equity 4.79b + L.T.Debt 1.44b))
RoIC = 17.98% (NOPAT 1.10b / Invested Capital 6.11b)
WACC = 5.14% (E(30.59b)/V(32.27b) * Re(5.39%) + D(1.68b)/V(32.27b) * Rd(0.79%) * (1-Tc(0.31)))
Discount Rate = 5.39% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -0.43%
[DCF] Terminal Value 86.83% ; FCFF base≈861.8m ; Y1≈907.5m ; Y5≈1.07b
[DCF] Fair Price = 307.0 (EV 31.59b - Net Debt -531.8m = Equity 32.13b / Shares 104.6m; r=5.90% [WACC]; 5y FCF grow 5.78% → 2.90% )
EPS Correlation: 94.61 | EPS CAGR: 16.43% | SUE: 0.61 | # QB: 0
Revenue Correlation: 76.02 | Revenue CAGR: 5.80% | SUE: 3.24 | # QB: 1
EPS next Quarter (2026-06-30): EPS=2.87 | Chg7d=-0.034 | Chg30d=+0.156 | Revisions Net=+11 | Analysts=11
EPS current Year (2026-12-31): EPS=11.79 | Chg7d=+0.031 | Chg30d=+0.682 | Revisions Net=+12 | Growth EPS=+10.5% | Growth Revenue=+6.6%
EPS next Year (2027-12-31): EPS=12.60 | Chg7d=+0.133 | Chg30d=+0.686 | Revisions Net=+7 | Growth EPS=+6.8% | Growth Revenue=+4.5%
[Analyst] Revisions Ratio: +1.00 (11 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 4.4% (Discount Rate 7.9% - Earnings Yield 3.6%)
[Growth] Growth Spread = +4.2% (Analyst 8.6% - Implied 4.4%)