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CBOE GLOBAL MARKETS INC (CBOE)

POSITIVE
Financial ServicesFinancial Data & Stock ExchangesUnited States

Price

$294.91

Market Cap

$30.86B

Fundamental

72

Technical

75

Composite

73

AI Analysis

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Overview

Cboe Global Markets, Inc., through its subsidiaries, operates as a derivatives and securities exchange network that delivers cutting-edge trading, clearing, and investment solutions in the United States and internationally. It operates through five segments: Options, North American Equities, Europe and Asia Pacific, Futures, and Global FX. The Options segment includes options on market indices, as well as on the stocks of individual corporations and on trading solutions and products in multiple asset classes, including equities, derivatives, and FX, across North America, Europe, and Asia Pacific (ETPs), such as exchange-traded funds (ETFs) and exchange-traded notes (ETNs); and trading in listed options through a single system. The North American Equities segment comprising U.S. equities and ETP transaction services. This segment also includes listing services on Cboe Canada, ETP listings on BZX, the Cboe Global Markets, Inc. common stock listing, and applicable market data. The Europe and Asia Pacific segment provides pan-European derivatives transaction services, ETPs, including exchange traded funds, exchange traded notes, and exchange traded commodities, and international depository receipts; and ETP listings business on regulated markets and clearing activities, as well as the equities services. The Futures segment offers transaction services, which includes trading of VIX futures and other futures products, the licensing of proprietary market data, as well as access and capacity services. The Global FX segment provides institutional foreign exchange (FX) trading and non-deliverable forward FX transactions services. It has strategic relationships with S&P Dow Jones Indices, LLC; Frank Russell Company; and FTSE International Limited. 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.

Balance Sheet & Liquidity

Revenue

$1.27B

Net Income

$386M

Free Cash Flow

$1.94B

Total Equity

$5.37B

Total Liabilities

$5.70B

Current Ratio

1.39

Interest Coverage

-

Debt/EBITDA

11.27

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Fair Value Estimation

Undervalued

Fair Value

$489.21

Current Price

$294.91

Margin of Safety

+39.7%

Fair Value Range

$317.99 - $660.44

Estimation Methods

Analyst Target:$326.93
DCF:$1026.79
PE-based:$279.85
Graham Growth:$490.71
EPV:$152.24
Analyst Consensus:Hold (9B / 12H / 3S)
Last Earnings Surprise:+10.28%

Valuation Metrics

P/E Ratio

80.36

ROE

7.2%

P/B Ratio

5.74

P/FCF

15.89

Gross Margin

57.3%

ROIC

6.1%

Value Creation (Economic Moat)

ROIC

6.1%

WACC

6.8%

ROIC − WACC

-0.7 pp

ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.

Fundamental Analysis Criteria

Passed (20)

  • EPS shows upward trend
  • EPS CAGR 11.44%
  • Price CAGR 14.85%
  • ROIC 6.1%
  • Gross Margin 57.3%
  • P/FCF 15.89
  • Debt/Equity ratio
  • Operating Margin 39.7%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Return on Tangible Assets
  • ROE 24.6%
  • Revenue Growth 5Y 6.6%
  • Earnings Surprise avg 3.9%
  • PEG Ratio 1.28
  • Earnings Quality (OCF/NI) 5.08
  • Share Dilution -0.1%
  • Net Margin Trend 30.3% vs 23.3%
  • Piotroski F-Score 5/9

Failed (6)

  • P/B Ratio 5.74
  • Debt/EBITDA
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Analyst Consensus 38% Buy

Unavailable (2)

  • Dividend Payout NaN%
  • Interest Coverage

Price Chart

Technical Indicators

RSI (14)

40.34

SMA 50

$318.14

SMA 200

$273.88

MACD

-3.68

Volatility

1.6%

Momentum (12m)

30.3%

RSI 40.3, SMA trend bullish, momentum 30.3%.

Piotroski F-Score

5/9

Mixed signals: some areas need attention

score
criteria

Earnings Quality

5.08

High quality: earnings backed by cash

Share Dilution

-10.0%

Buying back shares. Shareholder friendly

Governance

Executive Team

NameTitleAge
Mr. Craig Steven DonohueCEO, President & Director63
Ms. Jill M. Griebenow CPAExecutive VP & CFO45
Mr. Timothy LipscombExecutive VP & CTO50
Mr. John Patrick Sexton J.D.Executive VP, General Counsel & Corporate Secretary60
Mr. Christopher Andrew IsaacsonAdvisor47
Mr. Fredric J. Tomczyk A.C.A.Director69
Mr. Scott L. JohnstonExecutive VP & COO60
Mr. Allen L. Wilkinson CPASenior VP & Chief Accounting Officer37
Mr. Kenneth William Hill C.F.A.Senior VP, Treasurer and Head of Investor Relations & Business Intelligence-
Ms. Stacie FlemingSenior Vice President of Marketing & Communications-

Audit Risk

6

Board Risk

1

Compensation Risk

3

Shareholder Rights Risk

5

Latest News

Recent headlines for CBOE, sourced from Markets Gazette.

No recent news for CBOE.
Disclaimer

This platform is for educational purposes only. It does not provide financial, investment, or trading advice. All scores, valuations, and signals are based on automated analysis of publicly available data that may be incomplete or inaccurate. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

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