Cboe Global Markets, Inc.

    • Earnings Score
    • Moat Score
    • Safety Score
    • Market Cap $21.04B
    • PE 27
    • Debt $1.45B
    • Cash $2.80B
    • EV $19.69B
    • FCF $1.57B

    Earnings

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    Sales & Net Margins

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    Earnings$776.20M
    EBIT$1.10B
    ROE18%
    ROA13%
    FCF$1.57B
    Equity$4.21B
    Growth Stability51%
    PE27.11
    PEG2.31
    PB5
    P/FCF13.42
    P/S5.32
    Price/Cash0.13
    Debt/Equity0.34
    Debt/FCF0.92
    Net Margins19%
    Gross Margins52%
    Op. Margins28%
    Earnings CAGR13%
    Sales Growth YoY16%
    Sales Growth QoQ8%
    Sales CAGR22%
    FCF CAGR23%
    Equity CAGR33%
    Earnings Stability0.44
    Earnings Growth YoY5%
    Earnings Growth QoQ56%
    Earnings CAGR 5Y12%
    Sales CAGR 5Y7%
    FCF CAGR 5Y1%
    Equity CAGR 5Y5%
    Earnings CAGR 3Y3%
    Sales CAGR 3Y3%
    FCF CAGR 3Y77%
    Equity CAGR 3Y8%
    Market Cap$21.04B
    Revenue$3.96B
    Dividend Yield1%
    Payout Ratio31%
    Assets$8.71B
    Total Debt$1.45B
    Cash$2.80B
    Shares Outstanding104.68M
    EV19.69B
    Earnings Score48%
    Moat Score95%
    Safety Score73%
    Final Score72%
    Working Capital928.2M
    Current Ratio1.39
    Gross Profit$2.05B
    Shares Growth 3y-1%
    Equity Growth QoQ5%
    Equity Growth YoY11%

    Assets & ROA

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    Stockholders Equity & ROE

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    Cboe Global Markets Inc operates the Chicago Board Options Exchange, still, the largest U.S. options exchange by total volume. This marketplace offers trading in options on stocks, market indexes and exchange-traded funds and notes. The company also runs a fast-growing futures exchange, CFE, and an electronic options market, C2. After operating for most of its history as a not-for-profit, member-owned exchange company, the company became a for-profit corporation in 2006 and went public in 2010.

    SEC Filings

    Direct access to Cboe Global Markets, Inc. (CBOE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

    • 2024
      • 10-Q Sep 30
      • 10-Q Jun 30
      • 10-Q Mar 31
    • 2023
      • 10-K Dec 31
      • 10-Q Sep 30
      • 10-Q Jun 30
      • 10-Q Mar 31
    • 2022
      • 10-K Dec 31
      • 10-Q Sep 30
      • 10-Q Jun 30
      • 10-Q Mar 31

    Sector Comparison

    How does Cboe Global Markets, Inc. compare to its competitors?

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    Peter Lynch's Chart

    This chart shows the current pricing of Cboe Global Markets, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

    CAGR 13%
    Stability 44%
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    Cboe Global Markets, Inc. Discounted Cash Flow

    Fully customizable DCF calculator online for Cboe Global Markets, Inc..

    = $77B
    012345678910TV
    fcf$1.6B$1.9B$2.4B$2.9B$3.6B$4.4B$5.4B$6.6B$8.1B$9.9B$12B$122B
    DCF$1.7B$2B$2.2B$2.4B$2.7B$3B$3.4B$3.8B$4.2B$4.7B$47B
    Value$77B

    Competitiveness and MOAT

    High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

    Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023TTM
    Net Margins31%32%28%18%15%15%14%15%6%20%19%
    ROA-84%64%7%11%11%10%12%7%14%13%
    ROE-79%58%13%13%11%14%15%7%19%18%

    Safety and Stability

    Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

    Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023TTM
    Debt over FCF--03.713.061.460.912.43.481.410.92
    Debt over Equity--00.40.470.260.380.360.590.360.34
    Growth Stability---100%100%100%100%100%51%100%51%

    Growth

    Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

    Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023CAGR 5Y
    Revenue YoY growth-3%4%239%24%-10%37%2%13%-5%7%
    Earnings YoY growth-8%-9%114%6%-12%26%13%-56%224%12%
    Equity YoY growth-4%22%878%4%4%-0%8%-4%15%5%
    FCF YoY growth--3%-10%82%48%20%136%-61%8%74%1%