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CBOE · Financials

Cboe Global Markets, Inc. (CBOE)

As-reported financials and SEC filings for Cboe Global Markets, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Cboe Global Markets, Inc.

Cboe Global Markets, Inc. operates a global network of securities and derivatives exchanges, providing trading, clearing, and investment solutions across multiple asset classes including equities, derivatives, and foreign exchange. The company serves institutional and retail investors through its subsidiaries, which include major options and equities exchanges in the U.S., Europe, Canada, and Australia, as well as clearinghouses and block-trading platforms. Cboe's business segments cover options, North American equities, Europe and Asia Pacific markets, futures, and global FX trading services.

Snapshot

Revenue
$4.71B
Revenue growth (YoY)
15.1%
Net income
$1.10B
Diluted EPS
$10.42
Gross margin
51.5%
Operating margin
31.1%
Net margin
23.3%
FCF margin
35.7%
ROE
21.4%
net income / fiscal-year-end equity
P/E
24.0×
trailing when available, otherwise FY EPS
Market cap
$32.13B
Long-term debt / equity
0.28×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Cboe Global Markets

  • Revenue grew 15.1% to $4.7B in FY2025, faster than the 8.5% the year before.
  • Operating margin is 31.1% in FY2025, +8.1 pp against 23.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.4B, up 22.9% from Q2 FY2025.
  • Free cash flow was $1.7B in FY2025, 35.7% of revenue.
  • Net income rose 43.8% to $1.1B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Cboe Global Markets’s fundamentals sit among the 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin51.5%
46th percentile of 51
Operating margin31.1%
79th percentile of 146
Net margin23.3%
67th percentile of 377
FCF margin35.7%
79th percentile of 272
Revenue growth (YoY)+15.1%
61st percentile of 420
ROE21.4%
87th percentile of 375
P/E24.0×
81st percentile of 318
Long-term debt / equity0.28×
43rd percentile of 194
Short interest3.78d
46th percentile of 420

Cboe Global Markets’s return on equity of 21.4% ranks in the 87th percentile of the 375 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $261,376. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
5
0 new, 5 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$833.4M
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$249.1M1.0MReduced
AQR Capital ManagementquantQ2 2026$226.5M958.6KAdded
Citadel AdvisorsquantQ2 2026$153.3M631.9KAdded
Two Sigma InvestmentsquantQ2 2026$96.1M396.0KAdded
Millennium ManagementquantQ2 2026$49.2M202.6KAdded
Gotham Asset ManagementQ2 2026$34.0M140.0KReduced
Bridgewater AssociatesQ2 2026$12.5M51.5KAdded
Markel GroupQ2 2026$10.6M43.7KHeld
D. E. ShawquantQ2 2026$2.1M8.6KReduced

No longer held by: Point72 Asset Management (as of Q2 2026), Viking Global Investors (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$261K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-12
filed 2026-08-14
Froetscher Janet PDirectorSell937$278.95$261K
2026-05-18
filed 2026-05-20
Froetscher Janet PDirectorSell1.2K$358.09$438K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.0M
settled 2026-08-14
Change vs prior
-6.0%
vs previous settlement
Days to cover
3.78
at avg daily volume
Avg daily volume
801.3K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.0M-6.0%3.78
2026-07-313.2M-21.2%2.74
2026-07-154.1M-12.4%3.37
2026-06-304.7M+9.8%1.98
2026-06-154.3M+5.5%2.11
2026-05-294.0M-2.2%3.99
2026-05-154.1M-1.1%3.78
2026-04-304.2M+13.9%4.69

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$4.71B$4.09B$3.77B$3.96B$3.49B
Gross profit$2.43B$2.07B$1.92B$1.74B$1.48B
Operating income$1.47B$1.10B$1.06B$489.6M$805.9M
Net income$1.10B$764.9M$761.4M$235.0M$529.0M
Diluted EPS$10.42$7.21$7.13$2.19$4.92

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.75B$1.10B$1.08B$651.1M$596.8M
Capital expenditure$71.0M$60.9M$45.0M$59.8M$51.0M
Free cash flow$1.68B$1.04B$1.03B$591.3M$545.8M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.44B22.9%$353.1M$3.35
Q1 FY2026$1.27B6.5%$385.7M$3.66
Q4 FY2025$1.20B8.7%$313.5M$2.98
Q3 FY2025$1.14B8.1%$300.8M$2.85
Q2 FY2025$1.17B20.5%$235.1M$2.23
Q1 FY2025$1.20B24.8%$250.6M$2.37
Q4 FY2024$1.11B14.3%$196.5M$1.87
Q3 FY2024$1.06B16.2%$218.5M$2.07

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeCBOE
SectorFinancials
SIC industrySecurity & Commodity Brokers, Dealers, Exchanges & Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2015
SEC CIK1374310

Selected SEC filings

10-K2026-02-20
View on EDGAR →
10-K2025-02-21
View on EDGAR →
10-Q2026-07-31
View on EDGAR →
10-Q2026-05-01
View on EDGAR →
10-Q2025-10-31
View on EDGAR →
10-Q2025-08-01
View on EDGAR →
8-K2026-07-31
View on EDGAR →
8-K2026-07-28
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.