Cboe Global Markets (CBOE) Stock Overview
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. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 2/6 |
| Past Performance | 6/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
Rewards
Risk Analysis
CBOE passed our risk checks.
CBOE Community Fair Values
Create NarrativeSee what 36 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Top Community Narratives
US$201.42
FV
80.2% overvalued intrinsic discount3.18%
Revenue growth p.a.
29
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Cboe Global Markets, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$362.97 |
| 52 Week High | US$371.18 |
| 52 Week Low | US$218.14 |
| Beta | 0.37 |
| 1 Month Change | 19.24% |
| 3 Month Change | 26.84% |
| 1 Year Change | 59.04% |
| 3 Year Change | 167.82% |
| 5 Year Change | 228.57% |
| Change since IPO | 1,017.17% |
Recent News & Updates
Recent updates
Narrative Update • May 11
CBOE: Higher Street Expectations And New Contracts Will Shape Future Trading Outlook
Cboe Global Markets’ analyst fair value estimate has moved from about $301.64 to $330.57, as analysts incorporate higher price targets from multiple firms and modest tweaks to the discount rate, revenue growth assumptions, profit margin expectations, and future P/E inputs. Analyst Commentary Recent Street research on Cboe Global Markets has been heavily focused on resetting price targets, with multiple firms revising their views and several issuing more than one update over time.Narrative Update • Apr 24
CBOE: Higher Street Expectations And New Contracts Will Shape A Measured Outlook
Cboe Global Markets' fair value estimate has been revised higher from $287.23 to $301.64 as analysts factor in updated price targets and modest adjustments to growth, profitability, and P/E assumptions. Analyst Commentary Recent Street research has clustered around higher price targets for Cboe Global Markets, with several firms revising their numbers upward in short succession.Narrative Update • Apr 07
CBOE: Volumes Volatility And New Products Will Shape A Measured Forward Outlook
Narrative Update on Cboe Global Markets The updated analyst price target for Cboe Global Markets edges slightly lower to around $287, reflecting modest tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions, even as analysts point to recent target increases from several firms based on volume trends and broader exchange sector updates. Analyst Commentary Recent research on Cboe Global Markets clusters around higher price targets and updated views on trading activity across equities, options, and futures.Narrative Update • Mar 24
CBOE: Trading Volumes Volatility And New Products Will Shape A Balanced Outlook
Analysts have nudged their price targets on Cboe Global Markets higher, with recent upward revisions ranging from $5 to $23 as they factor in updated fair value estimates, modest adjustments to growth and margin assumptions, and a slightly lower discount rate. Analyst Commentary Recent research updates show a mix of optimism and caution around Cboe Global Markets, with several firms recalibrating price targets and fine tuning expectations ahead of upcoming quarters.Seeking Alpha • Mar 16
Cboe Global: Perennial Hedge Stock, Lacking Growth Drivers
Summary Cboe Global delivered strong 2025 results, with 15% revenue growth and 62% free cash flow growth, but faces limited visible growth opportunities. Despite a robust balance sheet and $2.2B cash, CBOE's capital deployment remains cautious, with declining buybacks and only modest dividend increases. Management's guidance for 2026 remains vague, with no clear capital allocation plans or new growth segments and asset sales in Australia and Canada underway. I maintain a Hold rating, as CBOE appears fairly valued with implied returns likely capped at around 10% absent new growth catalysts. Read the full article on Seeking AlphaNarrative Update • Mar 07
CBOE: Trading Activity And Volatility Will Guide A Fairly Balanced Outlook
The analyst price target for Cboe Global Markets has been raised by about $4 to roughly $286 as analysts factor in updated fair value estimates, a slightly lower discount rate, modest adjustments to revenue growth and profit margin assumptions, and a higher future P/E multiple supported by recent Street research price target revisions across major firms. Analyst Commentary Recent Street research shows a cluster of higher price targets for Cboe Global Markets, with several firms revising their models after updating assumptions around revenue, margins, volumes and valuation multiples.Narrative Update • Feb 21
CBOE: Trading Volumes And Volatility Will Shape A Balanced Forward Outlook
The latest analyst update nudges our fair value estimate for Cboe Global Markets higher, lifting it from about $273 to roughly $282, as analysts factor in slightly stronger long term profitability and a modestly higher future P/E assumption into their raised price targets across several recent research notes. Analyst Commentary Recent Street research on Cboe Global Markets has clustered around updated price targets and refreshed views on trading activity, particularly across equities, options, and futures.Narrative Update • Feb 07
CBOE: New Event And Crypto Contracts Will Shape Balanced Forward Outlook
Analysts have nudged their price targets for Cboe Global Markets higher, with recent moves such as TD Cowen and Piper Sandler lifting their views by US$7 and US$5, while UBS raised its target to US$280 and Barclays modestly trimmed to US$295, reflecting updated expectations around volumes, volatility and earnings potential. Analyst Commentary Recent research updates offer a mixed picture, with most price targets moving higher but one trimming its view while still keeping a positive rating.Narrative Update • Jan 22
CBOE: Data Revenues And New Contracts Will Shape Measured Forward Outlook
Analysts lifted their fair value estimate for Cboe Global Markets by about US$3 to roughly US$271, reflecting updated price targets that factor in recent volume trends, P/E assumptions and commentary around record quarterly results and guidance. Analyst Commentary Recent Street research on Cboe Global Markets has centered on record quarterly results, updated guidance, and how these feed into refreshed price targets and ratings across the broker, asset manager, and exchange peer group.Narrative Update • Jan 08
CBOE: Data Revenues And New Contracts Will Support Balanced Forward Outlook
The analyst price target for Cboe Global Markets has been raised by about US$6 per share, as analysts factor in recent target hikes from several firms along with updated assumptions for revenue trends, profit margins and future P/E multiples. Analyst Commentary Recent research paints a mixed but generally constructive picture of Cboe Global Markets, with several firms lifting their price targets while one trims estimates around fee capture.Narrative Update • Dec 15
CBOE: Upcoming Product Launches And Data Revenues Will Support Balanced Outlook
Analysts have nudged their fair value estimate for Cboe Global Markets higher to about $262 from roughly $256, citing stronger than expected double digit growth across all three business lines (particularly in data revenues) and solid quarterly results that offset modest adjustments to fee rate assumptions and longer term valuation multiples. Analyst Commentary Street research remains broadly constructive on Cboe Global Markets, with most recent target price revisions skewing higher and clustering around the mid to high $260s, implying upside to current trading levels.Narrative Update • Dec 01
CBOE: Upcoming Market Offerings And Product Mix Will Support Balanced Outlook
The analyst price target for Cboe Global Markets has been adjusted upward to approximately $290, as analysts highlight record revenue growth and stronger-than-expected Data Vantage performance. These factors are supporting a positive outlook for the company's shares.Narrative Update • Nov 17
CBOE: Revenue Mix And New Market Initiatives Will Drive Steady Performance
Cboe Global Markets' analyst price target has been raised from $250.63 to $256.67. This change reflects analysts' confidence following solid quarterly results, broad-based revenue growth, and a more positive outlook for key business lines.Narrative Update • Nov 03
CBOE: New Fee Dynamics And Earnings Guidance Will Shape Near-Term Outlook
The consensus analyst price target for Cboe Global Markets has increased slightly from $247.47 to $250.63, as analysts weigh recent shifts in fee structures, options revenue capture, and expectations for stable profit margins and improved growth trends. Analyst Commentary Recent analyst updates reflect a mix of optimism and caution regarding Cboe Global Markets' near-term outlook and strategic direction.Narrative Update • Aug 27
Electronic Trading Expansion Will Open New Global Markets
Driven by record Q2 revenue growth and a positive earnings surprise, analysts modestly increased Cboe Global Markets’ consensus price target from $246.93 to $249.57, while maintaining some caution due to sector preferences and macroeconomic factors. Analyst Commentary Record Q2 net revenue results, with top and bottom line both growing 14% year-over-year, signaling strong operational performance.
New Narrative • Mar 10
Leveraging AI And Data Analytics Will Drive Innovation In Global Options Trading
Adoption of options trading and international expansion will drive revenue growth with increased retail and international investor participation.Seeking Alpha • Feb 14
CBOE: Downgrading To Hold Amid Rising Costs And Intensified Competition
Summary I am downgrading Cboe Global Markets, Inc. from a 'buy' to a 'hold' due to lackluster profitability growth and rising expenses outpacing revenue growth. Recent results showed revenue growth but missed estimates, with operating expenses climbing 10%, leading to EBITDA margin contraction and EPS falling short of expectations. Despite strong performance in derivatives and Data Vantage businesses, competition and expense growth pose risks to sustaining high EBITDA margins and profitability. Given the potential for muted growth and valuation risks, I find it difficult to justify a 'buy' rating at this time. Read the full article on Seeking AlphaSeeking Alpha • Jan 21
Cboe Global: Growth Catalysts, But Overpriced Entry
Summary Cboe has a reasonably solid competitive moat with proprietary products like SPX and VIX. The business model includes high-margin derivatives trading, market data services, and cash and spot markets. An expanding global presence has positioned CBOE well for future growth, though reduced market volatility and competitive pressures are ever-present risks. Despite strong performance over the past several years, the share price has been flat for the past year or so. CBOE's current valuation unfortunately suggests limited near-term upside. Read the full article on Seeking AlphaSeeking Alpha • Oct 29
Cboe Global Markets: Rich Valuation, But High Quality Business And Strong Chart
Summary Options volume has been declining, but CBOE's share price remains resilient, supported by strong technicals despite a high valuation and soft EPS growth estimates. CBOE's Q2 results were mixed, with EPS beating estimates but revenue slightly missing; however, robust net revenue and reaffirmed expense guidance boosted shares. Key risks include low market volatility and increased competition, but strong free cash flow and potential operating leverage present upside opportunities. Despite a premium valuation, CBOE's technicals are strong, with support around $200; a breakdown below this level could shift my rating to sell. Read the full article on Seeking AlphaSeeking Alpha • Aug 06
Dividend Printer Cboe - Capitalizing On Market Turmoil
Summary Cboe Global Markets thrives in volatile times, benefiting from increased trading volumes, particularly in SPX options and VIX futures. Their business model capitalizes on market turbulence. The company's focus has shifted from M&A to organic growth, expanding its global reach and digital asset offerings. This strategic shift strengthens their position in key markets. CBOE continues to deliver strong shareholder returns through dividends and buybacks. Despite a slightly high valuation, its growth prospects make it a promising investment. Read the full article on Seeking AlphaShareholder Returns
| CBOE | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | -1.0% | -2.3% | -1.0% |
| 1Y | 59.0% | 6.0% | 23.3% |
Return vs Industry: CBOE exceeded the US Capital Markets industry which returned 7.7% over the past year.
Return vs Market: CBOE exceeded the US Market which returned 24.4% over the past year.
Price Volatility
| CBOE volatility | |
|---|---|
| CBOE Average Weekly Movement | 4.5% |
| Capital Markets Industry Average Movement | 3.6% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: CBOE has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: CBOE's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1973 | 1,661 | Craig Donohue | www.cboe.com |
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.
Cboe Global Markets, Inc. Fundamentals Summary
| CBOE fundamental statistics | |
|---|---|
| Market cap | US$38.09b |
| Earnings (TTM) | US$1.23b |
| Revenue (TTM) | US$4.79b |
30.9x
P/E Ratio7.9x
P/S RatioIs CBOE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CBOE income statement (TTM) | |
|---|---|
| Revenue | US$4.79b |
| Cost of Revenue | US$2.20b |
| Gross Profit | US$2.59b |
| Other Expenses | US$1.36b |
| Earnings | US$1.23b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 11.75 |
| Gross Margin | 54.11% |
| Net Profit Margin | 25.66% |
| Debt/Equity Ratio | 26.9% |
How did CBOE perform over the long term?
See historical performance and comparisonDividends
0.8%
Current Dividend Yield24%
Payout RatioDoes CBOE pay a reliable dividends?
See CBOE dividend history and benchmarks| Cboe Global Markets dividend dates | |
|---|---|
| Ex Dividend Date | May 29 2026 |
| Dividend Pay Date | Jun 15 2026 |
| Days until Ex dividend | 9 days |
| Days until Dividend pay date | 26 days |
Does CBOE pay a reliable dividends?
See CBOE dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/20 08:11 |
| End of Day Share Price | 2026/05/19 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Cboe Global Markets, Inc. is covered by 30 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Kevin Heal | Argus Research Company |
| Benjamin Budish | Barclays |
| Roger Freeman | Barclays |