Cboe Global Markets, Inc. (CBOE) AI Stock Analysis

Cboe Global Markets, Inc. operates options exchanges and global financial market infrastructure across five operating segments: Options, North American Equities, Futures, Europe and Asia Pacific, and Global FX. The Options segment focuses on trading in listed market indices, while North American Equities handles U.S. and Canadian equities along with exchange-traded product transactions and listings. The Futures segment trades futures contracts across commodities and financial instruments. Europe and Asia Pacific provides transaction, clearing, and exchange-traded product services, while Global FX provides foreign exchange and non-deliverable forward services to institutional clients. Cboe maintains strategic partnerships with S&P Dow Jones Indices, FTSE International Limited, and MSCI Inc.

From FY2021 through FY2025, annual revenue increased from $3.49B to $4.71B, reflecting a 5-year revenue CAGR of 6.6% from FY2020 to FY2025. Following a 4.7% revenue contraction in FY2023 to $3.77B, revenue rose 8.5% in FY2024 to $4.09B and 15.1% in FY2025. Net income expanded from $529.0M in FY2021 to $1.10B in FY2025, lifting net margin to 23.3% and diluted earnings per share to $10.69. For the trailing twelve months ended June 30, 2026, revenue totaled $5.06B with an operating margin of 34.6%. In the latest quarter ended June 30, 2026, quarterly revenue grew 22.9% year-over-year, and quarterly earnings grew 50.2% year-over-year.

As of June 30, 2026, Cboe held $2.39B in cash and short-term investments against $1.56B in total debt, yielding net cash of $835.4M. The company reported shareholders' equity of $5.63B, total assets of $10.61B, a current ratio of 1.57, and a debt-to-equity ratio of 0.28. In FY2025, operating cash flow reached $1.22B and free cash flow was $1.15B. Cash deployment in FY2025 included $71.0M in capital expenditures, $96.5M in share buybacks, and $284.3M in dividends paid.

At a closing price of $314.98 on October 16, 2026, Cboe traded at a trailing P/E of 24.6x and a forward P/E of 21.9x, both higher than the median of its S&P 500 Financial Services peers at 14.2x and 12.2x, respectively. Its price-to-sales ratio was 6.5x compared to the peer median of 3.1x, while its EV/EBITDA of 13.2x was below the peer median of 15.7x. Over the past year, Cboe returned 34.8% versus 16.8% for the S&P 500 (SPY), and its 5-year return reached 167.9% compared to 83.0% for the index.

Cboe pays a quarterly dividend with an annual forward payout of $3.44 per share, translating to a dividend yield of 1.09% as of October 16, 2026. The company has paid dividends for 17 consecutive years, supported by a 23.2% payout ratio. Over the past five years, dividend growth annualized at 11.6%, and the most recent ex-dividend date occurred on August 31, 2026.

Wall Street coverage consists of 6 Strong Buy, 1 Buy, 4 Hold, 2 Sell, and 1 Strong Sell ratings. The mean price target is $322.33, representing 2.3% upside from the October 16, 2026 close of $314.98. For the fiscal year ending December 31, 2026, analysts estimate EPS of $14.13, up 32.4%, on revenue of $2.86B. For the next fiscal year, 14 analysts project EPS of $15.18 and revenue of $2.96B. The company beat EPS estimates in all 4 of its last four quarters.

This page is an AI-written research summary of Cboe Global Markets, Inc. (CBOE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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