CME Group Inc.CME
NasdaqGS•Financial Services•Financial Data & Stock Exchanges
CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, and foreign exchange; and agricultural, energy, and metals commodities, as well as fixed income and foreign currency trading services. The company provides clearing house services, including clearing, settling, and guaranteeing futures and options contracts, and cleared swaps products traded through its exchanges. In addition, the company offers a range of market data services, including real-time and historical data services. It serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. The company was founded in 1898 and is headquartered in Chicago, Illinois.
CME Group Inc. (CME) reported trailing twelve months revenue of $6.76B as of March 2026, a 7.5% increase year-over-year. Quarterly revenue reached $1.88B, reflecting continued top-line momentum.
CME Group Inc. generated $4.24B in TTM net income, with quarterly EBITDA of $1.39B. The operating margin expanded from 67.5% to 69.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (69.7%) and net margin (62.1%) indicates moderate non-operating costs. Net margin has improved from 57.5% a year ago, signaling stronger bottom-line efficiency.
CME trades at a P/E of 25.2x (in line with broad market averages) and a P/S of 15.8x. The price-to-book ratio of 4.0x reflects a moderate premium to book value.
The company generated $1.24B in free cash flow over the trailing twelve months, a 12.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $201.99B in total assets with $3.42B in long-term debt against $26.62B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~65.1%, suggesting durable pricing power and cost discipline.
ROE is positive at ~13.4% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~16.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~65.4% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation