Cboe Global Markets Inc.

Cboe Global Markets Inc.

CBOE

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Market Cap$34.91B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Cboe Global Markets Inc.Cboe Global Markets Inc.28.30.86%23%6.30.3

Earnings Call Q1 2026

May 1, 2026 - AI Summary

Strong Q1 results; broad-based growth - Net revenue +29% YoY to a record $729M; adjusted diluted EPS +48% YoY to a record $3.70. - Growth was broad-based across all major categories and double-digit net revenue growth in 4 of 5 company segments. - Options drove a lot of the upside (see below), while cash/spot and data also remained strong.
Derivatives standouts: SPX volume +36% ADV, shifting within the quarter (0DTE vs non-0DTE) - Derivatives net revenue +32% YoY to another record quarter. - SPX proprietary index options: net transaction/clearing fee growth +35% YoY; average daily volume +34% YoY to 4.9M contracts. - Surprising/important nuance: drivers changed through the quarter due to macro/news shocks: - Jan–Feb: 0DTE powered growth (steady conditions; deeper retail + institutional engagement). - March (Iran war / macro shift): investors rotated toward non-0DTE to manage longer-term risks; non-0DTE jumped >26%, while 0DTE still grew but only ~6% MoM in March. - Additional strength in volatility toolkit: Mini-SPX, Russell 2000 index options, and VIX saw multiple quarterly ADV records.
Cash & spot markets + DataVantage momentum - Cash/spot net revenue +34% YoY, with record results across Europe/APAC, North American equities, and Global FX. - Europe/APAC segment +32% YoY, helped by net transaction/clearing fees +43% (March/quarter set new records in average daily value traded across multiple services). - Global FX net revenue +38% YoY (strongest segment growth in Q1). - Cboe DataVantage net revenue +19% YoY, driven mainly by new subscriptions/units (~85% of growth); some growth aided by one-time data sales tied to newly launched products.

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$329.08

Target Price by Analysts

15.4% upsideCboe Global Markets Target Price DetailsTarget Price
$337.70

Current Fair Value

18.4% upside

Undervalued by 18.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$34.91 Billion
Enterprise Value$34.33 Billion
Dividend Yield$2.88 (0.86%)
Earnings per Share$10.46
Beta0.37
Outstanding Shares104,700,000

Return

Return on Equity22.99%ROE
Return on Assets11.16%
Return on Invested Capital16.37%

Valuation & Multiples

P/E Ratio28.28P/E Ratio
PEG52.45PEG
Price to Sales6.34Price to Sales
Price to Book Ratio5.59Price to Book Ratio
Enterprise Value to Revenue7.16
Enterprise Value to EBIT20.13
Enterprise Value to Net Income27
Total Debt to Enterprise0.05
Debt to Equity0.29Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 1, 2026
EPS Estimate
$3.34
Average shareholder expectation
Revenue Estimate
$689.73 M
Average shareholder expectation

Next Earnings Call

Expected Date
July 31, 2026
EPS Estimate
$3.29
Average shareholder expectation
Revenue Estimate
$695.17 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.5070 0.37%
Total Calls986,100 16.18%
Total Puts499,960 15.33%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %87.44% 0.57%
Total Invested$25.59B 12.28%
Investors Holding1,012 54.00%

ESG Score

No data

About Cboe Global Markets Inc.

CEO: Edward Tilly

Relevant Senate Committees

Joint Committee on Taxation

This committee's role in developing and scoring tax legislation directly influences corporate tax structures, capital investment credits, and the overall tax burden on financial markets and industries, which profoundly affects Cboe and its market participants.

Finance

This committee's control over taxation, trade, and entitlement spending directly impacts corporate valuations, investment decisions, and the overall financial market environment, all of which are critical to Cboe's business.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, a primary regulator for Cboe's futures and digital asset businesses. Its role in defining cryptocurrencies as digital commodities is directly impactful on Cboe's product offerings and regulatory landscape.

Banking, Housing, and Urban Affairs

This committee directly regulates the financial system, including the SEC, which is a primary regulator for Cboe's equities, options, and digital assets exchanges. Its influence on bank capital requirements and cryptocurrency regulation is highly pertinent.

Select Committee on Intelligence

Members receive classified briefings on global threats and geopolitical events, which can create significant market volatility and impact trading activity (e.g., VIX futures), directly affecting Cboe's core business model and offering potential informational asymmetry.