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CBOE

CBOE

Financial Services · Financial Data & Stock Exchanges

$274.01-6.45%
Mkt Cap: $28.68BDY: 0.98%

Performance

CBOE (CBOE) Stock Analysis 2026

Rule-based · Updated daily · Not financial advice

CBOE (CBOE) operates in the Financial Data & Stock Exchanges space within the Financial Services sector. With a market cap of $28.7B, it qualifies as a mid-cap company. Growth is moderate and the business remains profitable, offering a balanced risk/reward profile compared to high-multiple peers.

Bull Case6
  • Forward P/E (18.6×) is lower than trailing P/E (23.4×) — analysts expect earnings to improve
  • Revenue growth of 7% YoY shows solid business momentum
  • Earnings grew 54% YoY — bottom-line is expanding fast
  • Exceptional profit margin of 25.8% — the business retains a large share of each dollar earned
  • ROE of 25.1% shows management efficiently converts equity into profit
  • Low beta of 0.40 — less volatile than the market, suitable for conservative portfolios
Bear Case1
  • High debt-to-equity of 29.49× increases financial risk, especially with elevated interest rates

Verdict

Strong Buy

Multiple fundamental strengths with few red flags. Long-term buyers may find this compelling.

AI Insight

Powered by Claude

AI-generated analysis for informational purposes only. Not financial advice.

Related Articles

Revenue & Results

Dividends

Current DY

0.98%

5Y Avg Annual

$1.8240

Last Payment

$0.7200

Ex-Date

05/29/2026

Annual dividends paid per share

2011
2019
2026
Ex-DatePaymentAmountEst. DY
Latest05/29/2026
06/15/2026$0.72001.05%
02/27/2026
03/16/2026$0.72001.05%
05/30/2025
06/16/2025$0.63000.92%
02/28/2025
03/17/2025$0.63000.92%
11/29/2024
12/16/2024$0.63000.92%
08/30/2024
09/16/2024$0.63000.92%
05/31/2024
06/17/2024$0.55000.80%
02/28/2024
03/16/2024$0.55000.80%

Magic Number

Shares needed to self-fund your next purchase

$274.01

Price

÷

$0.7200

Last div. (semesterly)

=

381

shares

Own 381 CBOE shares ($104,397.81) and each semesterly dividend pays for 1 new share — the snowball runs on its own.

Investment target

$104,397.81

New shares / year

+2 shares

If You Had Invested…

Hypothetical return based on historical prices

$

* Dividend reinvestment calculated at ex-date price. For informational purposes only.

Earnings

Next Earnings

Jul 31, 2026

45

days

EPS (TTM)

$11.72

P/E (TTM)

23.4

Fwd P/E

18.6

Earnings History

SEC EDGAR · official filings

SEC filings

SEC Filings

Official EDGAR documents

All filings

Key Statistics

Valuation

Market Cap$28.68B
P/E Ratio23.38
Forward P/E18.62
P/B Ratio
PEG Ratio2.68
EPS (TTM)$11.72

Trading

Open
Day High
Day Low
52W High$371.18
52W Low$223.54
Volume
Avg Volume (3M)1,093,703
Beta0.40

Dividends

Dividend Yield0.98%
Annual Rate$2.88
Ex-Div Date2026-05-29
Payout Ratio23.83%

Profitability

Profit Margin25.77%
Operating Margin39.72%
ROE25.14%
ROA10.59%
Revenue Growth6.50%
Earnings Growth54.40%

Balance Sheet

Total Revenue$4.79B
Total Debt$1.58B
Debt / Equity29.49
Current Ratio1.39
Free Cash Flow$1.00B

Fair Value Estimates

Current price: $274.01

Graham Number

√(22.5 × EPS × Book Value)

$116.35

-57.5% downside

Benjamin Graham's intrinsic value formula. Assumes a fair stock trades at no more than 22.5× the product of EPS and book value per share.

Bazin Ceiling Price

Avg. Annual DPS (5Y) ÷ 6%

$31.60

-88.5% downside

Décio Bazin's dividend-based ceiling. The max price you should pay so that dividends alone deliver at least 6% annual yield on your cost basis.

These are simplified estimates. Not financial advice.

Buy & Hold Checklist

Quality criteria for long-term holding

9/10

90% score

Pays dividends

15Y hist.

15+ years of dividend history

Dividend consistency (5Y+)

15 yrs

Uninterrupted dividend payments for at least 5 years

ROE above 10%

25.1%

Return on equity — measures how efficiently capital is used

Positive profit margin

25.8%

Net profit margin must be positive — company earns more than it spends

Revenue growth (annual)

+6.5%

Annual revenue must be growing compared to the prior year

Earnings growth (annual)

+54.4%

Annual earnings must be growing compared to the prior year

Debt/Equity below 2×

29.49×

Low financial leverage reduces risk of distress

Current ratio above 1

1.39×

Short-term assets must cover short-term liabilities

Daily liquidity above $5M

$300M/day

High trading volume ensures easy entry and exit

Dividend yield above 0%

0.98%

Stock must distribute income to shareholders

Related Assets

Financial Services

About CBOE

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.

Sector

Financial Services

Industry

Financial Data & Stock Exchanges

Location

Chicago, United States

Employees

1,661