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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash to Debt No Debt
CBOE's Cash to Debt is ranked higher than
87% of the 546 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: No Debt )
Ranked among companies with meaningful Cash to Debt only.
CBOE' s 10-Year Cash to Debt Range
Min: N/A  Med: 10000.00 Max: No Debt
Current: No Debt

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N/A
No Debt
Equity to Asset 0.63
CBOE's Equity to Asset is ranked higher than
68% of the 413 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.42 vs. CBOE: 0.63 )
Ranked among companies with meaningful Equity to Asset only.
CBOE' s 10-Year Equity to Asset Range
Min: 0.15  Med: 0.69 Max: 0.85
Current: 0.63
0.15
0.85
Interest Coverage No Debt
CBOE's Interest Coverage is ranked higher than
72% of the 441 Companies
in the Global Financial Exchanges industry.

( Industry Median: 10000.00 vs. CBOE: No Debt )
Ranked among companies with meaningful Interest Coverage only.
CBOE' s 10-Year Interest Coverage Range
Min: 186.76  Med: 9858.42 Max: 9999.99
Current: No Debt
186.76
9999.99
F-Score: 7
Z-Score: 30.32
M-Score: -2.92
WACC vs ROIC
7.66%
160.16%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 50.25
CBOE's Operating margin (%) is ranked higher than
80% of the 569 Companies
in the Global Financial Exchanges industry.

( Industry Median: 16.30 vs. CBOE: 50.25 )
Ranked among companies with meaningful Operating margin (%) only.
CBOE' s 10-Year Operating margin (%) Range
Min: 38.28  Med: 47.55 Max: 50.84
Current: 50.25
38.28
50.84
Net-margin (%) 30.45
CBOE's Net-margin (%) is ranked higher than
67% of the 576 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.72 vs. CBOE: 30.45 )
Ranked among companies with meaningful Net-margin (%) only.
CBOE' s 10-Year Net-margin (%) Range
Min: 22.74  Med: 27.66 Max: 30.77
Current: 30.45
22.74
30.77
ROE (%) 74.80
CBOE's ROE (%) is ranked higher than
97% of the 587 Companies
in the Global Financial Exchanges industry.

( Industry Median: 7.40 vs. CBOE: 74.80 )
Ranked among companies with meaningful ROE (%) only.
CBOE' s 10-Year ROE (%) Range
Min: 37.36  Med: 65.80 Max: 70.48
Current: 74.8
37.36
70.48
ROA (%) 49.29
CBOE's ROA (%) is ranked higher than
98% of the 598 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.27 vs. CBOE: 49.29 )
Ranked among companies with meaningful ROA (%) only.
CBOE' s 10-Year ROA (%) Range
Min: 19.93  Med: 45.53 Max: 47.91
Current: 49.29
19.93
47.91
ROC (Joel Greenblatt) (%) 323.89
CBOE's ROC (Joel Greenblatt) (%) is ranked higher than
82% of the 449 Companies
in the Global Financial Exchanges industry.

( Industry Median: 26.76 vs. CBOE: 323.89 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
CBOE' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 173.78  Med: 311.74 Max: 376.95
Current: 323.89
173.78
376.95
Revenue Growth (3Y)(%) 8.60
CBOE's Revenue Growth (3Y)(%) is ranked higher than
62% of the 458 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.40 vs. CBOE: 8.60 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
CBOE' s 10-Year Revenue Growth (3Y)(%) Range
Min: 7.6  Med: 8.30 Max: 12.8
Current: 8.6
7.6
12.8
EBITDA Growth (3Y)(%) 10.60
CBOE's EBITDA Growth (3Y)(%) is ranked higher than
62% of the 320 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.70 vs. CBOE: 10.60 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
CBOE' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 9  Med: 10.95 Max: 21.6
Current: 10.6
9
21.6
EPS Growth (3Y)(%) 13.30
CBOE's EPS Growth (3Y)(%) is ranked higher than
62% of the 310 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.60 vs. CBOE: 13.30 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
CBOE' s 10-Year EPS Growth (3Y)(%) Range
Min: 7  Med: 14.15 Max: 24.5
Current: 13.3
7
24.5
» CBOE's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

CBOE Guru Trades in Q3 2014

Jim Simons 3,618,100 sh (+0.18%)
Pioneer Investments 100,964 sh (unchged)
Paul Tudor Jones Sold Out
John Keeley 318,540 sh (-1.48%)
Murray Stahl 2,034,502 sh (-12.32%)
Joel Greenblatt 4,166 sh (-94.79%)
» More
Q4 2014

CBOE Guru Trades in Q4 2014

Jim Simons 3,748,400 sh (+3.60%)
Pioneer Investments Sold Out
Murray Stahl 2,027,768 sh (-0.33%)
John Keeley 310,195 sh (-2.62%)
Joel Greenblatt 3,941 sh (-5.40%)
» More
Q1 2015

CBOE Guru Trades in Q1 2015

Jim Simons 3,847,600 sh (+2.65%)
Joel Greenblatt Sold Out
John Keeley 299,879 sh (-3.33%)
Murray Stahl 1,928,431 sh (-4.90%)
» More
Q2 2015

CBOE Guru Trades in Q2 2015

Joel Greenblatt 80,775 sh (New)
Jim Simons 3,998,400 sh (+3.92%)
John Keeley 289,639 sh (-3.41%)
Murray Stahl 1,861,553 sh (-3.47%)
» More
» Details

Insider Trades

Latest Guru Trades with CBOE

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 28.81
CBOE's P/E(ttm) is ranked lower than
73% of the 444 Companies
in the Global Financial Exchanges industry.

( Industry Median: 17.00 vs. CBOE: 28.81 )
Ranked among companies with meaningful P/E(ttm) only.
CBOE' s 10-Year P/E(ttm) Range
Min: 15.59  Med: 23.11 Max: 30.05
Current: 28.81
15.59
30.05
Forward P/E 26.04
CBOE's Forward P/E is ranked lower than
87% of the 123 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.99 vs. CBOE: 26.04 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 29.10
CBOE's PE(NRI) is ranked lower than
73% of the 443 Companies
in the Global Financial Exchanges industry.

( Industry Median: 17.00 vs. CBOE: 29.10 )
Ranked among companies with meaningful PE(NRI) only.
CBOE' s 10-Year PE(NRI) Range
Min: 15.69  Med: 23.20 Max: 30.09
Current: 29.1
15.69
30.09
P/B 23.06
CBOE's P/B is ranked lower than
99% of the 452 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.20 vs. CBOE: 23.06 )
Ranked among companies with meaningful P/B only.
CBOE' s 10-Year P/B Range
Min: 4.68  Med: 12.17 Max: 23.51
Current: 23.06
4.68
23.51
P/S 8.77
CBOE's P/S is ranked lower than
76% of the 556 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.36 vs. CBOE: 8.77 )
Ranked among companies with meaningful P/S only.
CBOE' s 10-Year P/S Range
Min: 4.31  Med: 5.94 Max: 9.2
Current: 8.77
4.31
9.2
PFCF 25.69
CBOE's PFCF is ranked lower than
77% of the 198 Companies
in the Global Financial Exchanges industry.

( Industry Median: 11.15 vs. CBOE: 25.69 )
Ranked among companies with meaningful PFCF only.
CBOE' s 10-Year PFCF Range
Min: 12.08  Med: 20.36 Max: 37.73
Current: 25.69
12.08
37.73
POCF 21.56
CBOE's POCF is ranked lower than
75% of the 231 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9.99 vs. CBOE: 21.56 )
Ranked among companies with meaningful POCF only.
CBOE' s 10-Year POCF Range
Min: 10.31  Med: 17.59 Max: 27.41
Current: 21.56
10.31
27.41
EV-to-EBIT 16.85
CBOE's EV-to-EBIT is ranked lower than
58% of the 409 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.68 vs. CBOE: 16.85 )
Ranked among companies with meaningful EV-to-EBIT only.
CBOE' s 10-Year EV-to-EBIT Range
Min: 8.2  Med: 12.95 Max: 17.4
Current: 16.85
8.2
17.4
PEG 1.98
CBOE's PEG is ranked lower than
66% of the 96 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.45 vs. CBOE: 1.98 )
Ranked among companies with meaningful PEG only.
CBOE' s 10-Year PEG Range
Min: 1.08  Med: 1.76 Max: 2
Current: 1.98
1.08
2
Shiller P/E 35.90
CBOE's Shiller P/E is ranked lower than
82% of the 209 Companies
in the Global Financial Exchanges industry.

( Industry Median: 20.49 vs. CBOE: 35.90 )
Ranked among companies with meaningful Shiller P/E only.
CBOE' s 10-Year Shiller P/E Range
Min: 32.44  Med: 35.14 Max: 39.58
Current: 35.9
32.44
39.58
Current Ratio 2.69
CBOE's Current Ratio is ranked higher than
62% of the 296 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.78 vs. CBOE: 2.69 )
Ranked among companies with meaningful Current Ratio only.
CBOE' s 10-Year Current Ratio Range
Min: 0.97  Med: 3.21 Max: 7.07
Current: 2.69
0.97
7.07
Quick Ratio 2.69
CBOE's Quick Ratio is ranked higher than
62% of the 296 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.73 vs. CBOE: 2.69 )
Ranked among companies with meaningful Quick Ratio only.
CBOE' s 10-Year Quick Ratio Range
Min: 0.97  Med: 3.21 Max: 7.07
Current: 2.69
0.97
7.07
Days Sales Outstanding 38.35
CBOE's Days Sales Outstanding is ranked higher than
60% of the 444 Companies
in the Global Financial Exchanges industry.

( Industry Median: 59.76 vs. CBOE: 38.35 )
Ranked among companies with meaningful Days Sales Outstanding only.
CBOE' s 10-Year Days Sales Outstanding Range
Min: 25.82  Med: 31.52 Max: 34.53
Current: 38.35
25.82
34.53

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.33
CBOE's Dividend Yield is ranked lower than
80% of the 508 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.18 vs. CBOE: 1.33 )
Ranked among companies with meaningful Dividend Yield only.
CBOE' s 10-Year Dividend Yield Range
Min: 0.4  Med: 1.41 Max: 1.91
Current: 1.33
0.4
1.91
Dividend Payout 0.38
CBOE's Dividend Payout is ranked higher than
54% of the 310 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.42 vs. CBOE: 0.38 )
Ranked among companies with meaningful Dividend Payout only.
CBOE' s 10-Year Dividend Payout Range
Min: 0.27  Med: 0.33 Max: 0.5
Current: 0.38
0.27
0.5
Dividend growth (3y) 21.00
CBOE's Dividend growth (3y) is ranked higher than
77% of the 194 Companies
in the Global Financial Exchanges industry.

( Industry Median: -4.50 vs. CBOE: 21.00 )
Ranked among companies with meaningful Dividend growth (3y) only.
CBOE' s 10-Year Dividend growth (3y) Range
Min: 0  Med: 10.50 Max: 48.9
Current: 21
0
48.9
Yield on cost (5-Year) 1.33
CBOE's Yield on cost (5-Year) is ranked lower than
80% of the 510 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.92 vs. CBOE: 1.33 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
CBOE' s 10-Year Yield on cost (5-Year) Range
Min: 0.4  Med: 1.41 Max: 1.91
Current: 1.33
0.4
1.91
Share Buyback Rate 1.70
CBOE's Share Buyback Rate is ranked higher than
87% of the 327 Companies
in the Global Financial Exchanges industry.

( Industry Median: -1.80 vs. CBOE: 1.70 )
Ranked among companies with meaningful Share Buyback Rate only.
CBOE' s 10-Year Share Buyback Rate Range
Min: 3  Med: 1.45 Max: 1.1
Current: 1.7

Valuation & Return

vs
industry
vs
history
Price/Net Current Asset Value 88.64
CBOE's Price/Net Current Asset Value is ranked lower than
99% of the 182 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.29 vs. CBOE: 88.64 )
Ranked among companies with meaningful Price/Net Current Asset Value only.
CBOE' s 10-Year Price/Net Current Asset Value Range
Min: 6.76  Med: 26.17 Max: 79.47
Current: 88.64
6.76
79.47
Price/Tangible Book 31.13
CBOE's Price/Tangible Book is ranked lower than
99% of the 423 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.24 vs. CBOE: 31.13 )
Ranked among companies with meaningful Price/Tangible Book only.
CBOE' s 10-Year Price/Tangible Book Range
Min: 5.02  Med: 14.05 Max: 27.91
Current: 31.13
5.02
27.91
Price/Projected FCF 2.15
CBOE's Price/Projected FCF is ranked lower than
80% of the 199 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.17 vs. CBOE: 2.15 )
Ranked among companies with meaningful Price/Projected FCF only.
CBOE' s 10-Year Price/Projected FCF Range
Min: 1.93  Med: 2.26 Max: 3.16
Current: 2.15
1.93
3.16
Price/Median PS Value 1.49
CBOE's Price/Median PS Value is ranked lower than
79% of the 458 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.00 vs. CBOE: 1.49 )
Ranked among companies with meaningful Price/Median PS Value only.
CBOE' s 10-Year Price/Median PS Value Range
Min: 0.72  Med: 1.02 Max: 1.48
Current: 1.49
0.72
1.48
Price/Peter Lynch Fair Value 1.99
CBOE's Price/Peter Lynch Fair Value is ranked lower than
77% of the 74 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.82 vs. CBOE: 1.99 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
CBOE' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1.13  Med: 1.74 Max: 1.86
Current: 1.99
1.13
1.86
Price/Graham Number 6.29
CBOE's Price/Graham Number is ranked lower than
98% of the 296 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.96 vs. CBOE: 6.29 )
Ranked among companies with meaningful Price/Graham Number only.
CBOE' s 10-Year Price/Graham Number Range
Min: 2.12  Med: 3.80 Max: 5.86
Current: 6.29
2.12
5.86
Earnings Yield (Greenblatt) (%) 5.97
CBOE's Earnings Yield (Greenblatt) (%) is ranked higher than
59% of the 569 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.30 vs. CBOE: 5.97 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
CBOE' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 5.7  Med: 7.75 Max: 12.2
Current: 5.97
5.7
12.2
Forward Rate of Return (Yacktman) (%) 17.89
CBOE's Forward Rate of Return (Yacktman) (%) is ranked higher than
70% of the 190 Companies
in the Global Financial Exchanges industry.

( Industry Median: 5.47 vs. CBOE: 17.89 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
CBOE' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: 17.9  Med: 18.80 Max: 24.9
Current: 17.89
17.9
24.9

Analyst Estimate

Dec15 Dec16 Dec17
Revenue(Mil) 605 652 707
EPS($) 2.18 2.45 2.79
EPS without NRI($) 2.18 2.45 2.79

Business Description

Industry: Brokers & Exchanges » Financial Exchanges
Compare: » details
Traded in other countries:C67.Germany,
CBOE Holdings Inc was founded in 1973 as a non-stock corporation owned by its members and incorporated in the State of Delaware on August 15, 2006. On June 18, 2010 the Company completed its initial public offering of 13,455,000 shares. The Company is engaged in trading of listed, or exchange-traded, derivatives contracts on four product categories; options on market indexes, futures on the VIX Index and other products, options on stock of individual corporations, options on other exchange-traded products such as exchange-traded funds and exchange traded notes. The Company owns and operates three stand-alone exchanges, but reports the results of its operations in one reporting segment. It offers trading in listed options through a single system which integrates electronic trading and traditional open outcry trading on trading floor in Chicago, known as Hybrid trading model. The Company's all-electronic futures exchange offers trading of futures on the VIX Index and other products. C2, launched in October 2010, is all-electronic exchange that offers trading for listed options, but with a different market model and fee structure than CBOE. All of the Company's exchanges operate on a technology platform known as CBOE Command. The Company's business of offering exchange-traded options and futures contracts is part of the growing derivatives industry. The common types of derivatives are options, futures and swap contracts. Options provides investors a means for hedging, speculation and income generation, while at the same time providing leverage with respect to the underlying asset. Futures are standardized, transferable, exchange-traded contracts that require delivery of a commodity, bond, currency, stock index or other benchmark interests at a specified price and on a specified future date, which are settled in cash on CFE. Futures exchanges may also list for trading options on futures. The Company operates and maintains disaster recovery facilities that replicate the systems available in data center for CBOE and CFE. The Company's competitors in the options industry include ISE, NASDAQ, OMX NOM, NASDAQ OMX PHILX, NYSE Amex and NYSE Area.
» More Articles for CBOE

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