Cboe Global Markets, Inc.CBOE

Cboe US•Financial Services•Financial Data & Stock Exchanges

Cboe Global Markets, Inc., through its subsidiaries, operates as an options exchange in the United States and internationally. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. Its North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services. Its Futures segment offers and trades in futures and other related products. The Global FX segment provides institutional foreign exchange (FX) trading and non-deliverable forward FX transactions services. Its Digital segment offers Cboe Digital, an operator of the United States based digital asset spot market and a regulated futures exchange; Cboe Clear Digital, a regulated clearinghouse; licensing of proprietary market data; and access and capacity services. It has strategic relationships with S&P Dow Jones Indices, LLC; Frank Russell Company; FTSE International Limited; and MSCI Inc. The company was formerly known as CBOE Holdings, Inc. and changed its name to Cboe Global Markets, Inc. in October 2017. Cboe Global Markets, Inc. was founded in 1973 and is headquartered in Chicago, Illinois.

Price & Volume

Key Metrics at a Glance (as of December 2025)

Market Cap: $26.79B
TTM Revenue: $4.71B
TTM EBITDA: $1.64B
P/E Ratio: 24.4x
Operating Margin: 35.6%
Free Cash Flow: $559.80M

Financial Analysis

Cboe Global Markets, Inc. (CBOE) reported trailing twelve months (TTM) revenue of $4.71B as of December 2025, which represents a 15.1% increase year-over-year. The company's operating margin has expanded to 35.6% from 27.0% a year ago. In terms of profitability, CBOE generated $1.10B in net income. Valuation-wise, the stock trades at a P/E ratio of 24.4x and a Price-to-Sales (P/S) ratio of 5.7x. The company generated $559.80M in free cash flow over the last twelve months, indicating its ability to reinvest in growth or return capital to shareholders. Data based on the most recent quarterly reports.