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Cboe Global Markets, Inc. CBOE

CBOE · stock · Security & Commodity Brokers, Dealers, Exchanges & Services · website · IPO 2010-05-27 · LEI

Cboe Global Markets, Inc. statistics & valuation

Market cap$24.2B
P / E22.0×
P / S5.1×
P / B4.7×
P / FCF14.4×
Dividend yield1.17%
Net margin23.3%
Return on equity21.4%
FCF margin35.7%
Net cash$773.6M
Net debt / EBITDA-0.5×
Enterprise value USD$23.5B
EV / EBITDA14.8×
Earnings yield EBIT/EV6.3%
Return on capital21.1%
Graham number -63.5%$107.06

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($107.06); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
26.60% 18.00% 15.40% 15.00% 13.70% 15.10% 20.20% 18.70% 23.30% 2016201720182019202020212022202320242025
Gross margin (%)
80.60% 44.70% 44.00% 45.50% 36.60% 42.20% 44.00% 50.80% 50.60% 51.50% 2016201720182019202020212022202320242025
Operating margin (%)
42.40% 16.70% 21.60% 21.50% 19.30% 23.10% 12.40% 28.00% 26.80% 31.10% 2016201720182019202020212022202320242025
Return on equity (%)
58.80% 12.90% 13.20% 11.20% 14.00% 14.70% 19.10% 17.90% 21.40% 2016201720182019202020212022202320242025
Shares outstanding
81.4M 112.7M 112.2M 111.8M 109.3M 107.2M 106.7M 106.2M 105.5M 105.1M 2016201720182019202020212022202320242025
Net debt ($)
-$97.3M $1.09B $940.3M $638.3M $958.5M $957.4M $1.31B $896.0M $520.7M -$773.6M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
39.20% 7.60% 8.00% 7.30% 7.20% 7.80% 10.20% 9.80% 11.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
26.30% 15.10% 18.00% 23.90% 41.20% 15.60% 14.90% 27.30% 25.40% 35.70% 2016201720182019202020212022202320242025
Debt / equity (×)
0.00× 0.40× 0.38× 0.26× 0.36× 0.36× 0.50× 0.36× 0.34× 0.28× 2016201720182019202020212022202320242025
EPS ($)
$2.27 $3.69 $3.76 $3.34 $4.27 $4.92 $2.19 $7.13 $7.21 $10.42 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Cboe Global Markets, Inc. trades at about 28.1× earnings — near its 10-year norm (10-year range 21.5×–56.1×, median 28.3×).

21.5× 56.1×

Shaded band = 10-year range (21.5×–56.1×); dot = today's 28.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin51.5%50.6%50.8%44.0%42.2%36.6%45.5%44.0%44.7%80.6%
Operating margin31.1%26.8%28.0%12.4%23.1%19.3%21.5%21.6%16.7%42.4%
Net margin23.3%18.7%20.2%—15.1%13.7%15.0%15.4%18.0%26.6%
FCF margin35.7%25.4%27.3%14.9%15.6%41.2%23.9%18.0%15.1%26.3%
Return on assets11.8%9.8%10.2%—7.8%7.2%7.3%8.0%7.6%39.2%
Return on equity21.4%17.9%19.1%—14.7%14.0%11.2%13.2%12.9%58.8%
Debt / equity0.28×0.34×0.36×0.50×0.36×0.36×0.26×0.38×0.40×0.00×
Current ratio1.871.781.431.051.311.192.161.151.302.62

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.