Quarter
Charts

Cboe Global Markets, Inc.

CBOE

CIK 0001374310 · Quarterly mode · latest period FY2025 (Q4) (ending 2025-12-31) · sourced from SEC EDGAR

At a glance · FY2025 (Q4)

Revenue
$1.20B
↑+8.7% +$96Mvs FY2024 (Q4)
Operating Income
$404M
↑+35.3% +$105Mvs FY2024 (Q4)
Net Income
$314M
↑+59.5% +$117Mvs FY2024 (Q4)
Gross Profit
$671M
↑+28.0% +$147Mvs FY2024 (Q4)

Quality Score

Quality score

6-dimension fundamental snapshot · latest annual filed values · S&P 500 calibration

Strong
65/100
  • Profitability
    59ROIC 16.7% (10% = solid, 20%+ = moat)
  • Liquidity
    69Current Ratio 1.87 (above 1.5 = solid)
  • Leverage
    86D/E 0.28 (under 0.5 = conservative)
  • Efficiency
    27Asset Turnover 0.55x (1.0+ = capital-efficient)
  • Growth
    46Revenue YoY +8.7% (10% = solid, 25%+ = elite)
  • Margin Trend
    100Op Margin 33.5% · trend +4.3pts (4Q avg vs prior 4Q)

Calibrated to S&P 500 medians. Each sub-score is computed from a single CFA-grade ratio (Profitability = ROIC, Liquidity = Current Ratio, Leverage = D/E, Efficiency = Asset Turnover, Growth = Revenue YoY, Margin Trend = 4Q operating-margin avg vs prior 4Q). Overall = simple mean.

DCF intrinsic value

DCF intrinsic value

two-stage Gordon model

Project CBOE's free cash flow forward, discount back at your hurdle rate, divide by diluted shares. Edit the assumptions to see how sensitive the intrinsic value is.

25%

Trailing 3-yr CAGR was 41.7%

10%

10% is a common all-equity benchmark for US large-caps

2.5%

Should be ≤ long-run GDP growth (~2.5% nominal)

5

5-year explicit projection + perpetuity terminal

Intrinsic value per share
$533.67
Total enterprise IV
$56.09B
Diluted shares
0.11B
Terminal PV
$43.55B (78% of total)
Year-5 FCF
$5.13B
YearProjected FCFDiscounted PV
+1$2.10B$1.91B
+2$2.63B$2.17B
+3$3.28B$2.47B
+4$4.11B$2.80B
+5$5.13B$3.19B
Terminal$70.14B$43.55B

DCF outputs are HIGHLY sensitive to growth + WACC assumptions. A 1pp WACC change can shift IV by 20%+. Use this as a sanity-check vs market price, not a target — and always cross-check the underlying FCF source (EDGAR cashflow statement, latest annual). Margin of safety convention: 30-50% discount to IV before buying.

Capital allocation · trailing 4 quarters

how the company spent its cash
Capex (TTM)
$71M
investment in PP&E
Dividends paid (TTM)
$284M
cash returned to holders
Stock buybacks (TTM)
$67M
share count reduction
Stock-based comp (TTM)
$50M
non-cash dilution

Balance sheet · 2025-12-31

latest filed snapshot
Total assets
$9.31B
everything owned
Total liabilities
$4.17B
everything owed
Stockholders' equity
$5.14B
shareholder claim
Net debt
$-774M
Net cash position ($774M)

Recent performance · 66 quarters

Revenue↑+8.7% +$96M
$1.20B
Net Income↑+59.5% +$117M
$314M
Free Cash Flow↑+1495.4% +$356M
$332M
Operating Margin↑+6.6pts
33.5%

Drill down

CBOE Sankey

See Cboe Global Markets, Inc.'s revenue flow into every line item of the income statement and balance sheet — every dollar accounted for, with prior-period comparison.

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CBOE Charts

66 quarters of historical line items — Income, Cash Flow, Balance Sheet, plus margins. Click any chart for the trend dialog.

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CBOE Key Metrics

EPS, BVPS, FCF/Share, ROE, ROA, ROIC, D/E, Current Ratio, Quick Ratio, Asset Turnover — 10 CFA-grade fundamentals derived from EDGAR data.

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