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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 : 7/10

vs
industry
vs
history
Cash to Debt No Debt
CBOE's Cash to Debt is ranked higher than
82% of the 358 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.48 vs. CBOE: No Debt )
CBOE' s 10-Year Cash to Debt Range
Min: No Debt   Max: No Debt
Current: No Debt

Equity to Asset 0.68
CBOE's Equity to Asset is ranked higher than
86% of the 400 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.27 vs. CBOE: 0.68 )
CBOE' s 10-Year Equity to Asset Range
Min: 0.15   Max: 0.85
Current: 0.68

0.15
0.85
Interest Coverage No Debt
CBOE's Interest Coverage is ranked higher than
97% of the 325 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.78 vs. CBOE: No Debt )
CBOE' s 10-Year Interest Coverage Range
Min: 186.76   Max: 9999.99
Current: No Debt

186.76
9999.99
F-Score: 5
Z-Score: 28.81
M-Score: -2.88
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 (%) 50.44
CBOE's Operating margin (%) is ranked higher than
91% of the 411 Companies
in the Global Financial Exchanges industry.

( Industry Median: 17.93 vs. CBOE: 50.44 )
CBOE' s 10-Year Operating margin (%) Range
Min: 38.28   Max: 49.96
Current: 50.44

38.28
49.96
Net-margin (%) 30.92
CBOE's Net-margin (%) is ranked higher than
83% of the 411 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.96 vs. CBOE: 30.92 )
CBOE' s 10-Year Net-margin (%) Range
Min: 22.74   Max: 30.77
Current: 30.92

22.74
30.77
ROE (%) 61.03
CBOE's ROE (%) is ranked higher than
99% of the 409 Companies
in the Global Financial Exchanges industry.

( Industry Median: 7.50 vs. CBOE: 61.03 )
CBOE' s 10-Year ROE (%) Range
Min: 37.36   Max: 67.65
Current: 61.03

37.36
67.65
ROA (%) 42.50
CBOE's ROA (%) is ranked higher than
99% of the 412 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.78 vs. CBOE: 42.50 )
CBOE' s 10-Year ROA (%) Range
Min: 19.93   Max: 47.91
Current: 42.5

19.93
47.91
ROC (Joel Greenblatt) (%) 332.79
CBOE's ROC (Joel Greenblatt) (%) is ranked higher than
86% of the 405 Companies
in the Global Financial Exchanges industry.

( Industry Median: 124.44 vs. CBOE: 332.79 )
CBOE' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 175.69   Max: 369.33
Current: 332.79

175.69
369.33
Revenue Growth (%) 12.80
CBOE's Revenue Growth (%) is ranked higher than
87% of the 353 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.00 vs. CBOE: 12.80 )
CBOE' s 10-Year Revenue Growth (%) Range
Min: 7.6   Max: 12.8
Current: 12.8

7.6
12.8
EBITDA Growth (%) 21.30
CBOE's EBITDA Growth (%) is ranked higher than
86% of the 293 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.40 vs. CBOE: 21.30 )
CBOE' s 10-Year EBITDA Growth (%) Range
Min: 9   Max: 21.3
Current: 21.3

9
21.3
EPS Growth (%) 24.50
CBOE's EPS Growth (%) is ranked higher than
87% of the 287 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.80 vs. CBOE: 24.50 )
CBOE' s 10-Year EPS Growth (%) Range
Min: 7   Max: 24.5
Current: 24.5

7
24.5
» CBOE's 10-Y Financials

Financials


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

» Details

Guru Trades

Q3 2013

CBOE Guru Trades in Q3 2013

Steven Cohen 28,015 sh (New)
Paul Tudor Jones 32,000 sh (+148.06%)
Jim Simons 2,478,000 sh (+13.63%)
Joel Greenblatt Sold Out
John Keeley 1,050,636 sh (-9.57%)
RS Investment Management 430,101 sh (-12.95%)
Murray Stahl 2,941,053 sh (-19.9%)
» More
Q4 2013

CBOE Guru Trades in Q4 2013

Pioneer Investments 154,001 sh (New)
Jim Simons 2,730,100 sh (+10.17%)
Paul Tudor Jones Sold Out
Steven Cohen Sold Out
RS Investment Management 428,301 sh (-0.42%)
John Keeley 1,032,761 sh (-1.7%)
Murray Stahl 2,869,318 sh (-2.44%)
» More
Q1 2014

CBOE Guru Trades in Q1 2014

Jim Simons 3,070,900 sh (+12.48%)
Murray Stahl 2,714,546 sh (-5.39%)
Pioneer Investments 138,709 sh (-9.93%)
John Keeley 368,510 sh (-64.32%)
RS Investment Management 9,457 sh (-97.79%)
» More
Q2 2014

CBOE Guru Trades in Q2 2014

Paul Tudor Jones 7,175 sh (New)
Joel Greenblatt 80,021 sh (New)
Jim Simons 3,611,700 sh (+17.61%)
RS Investment Management Sold Out
Pioneer Investments Sold Out
John Keeley 323,330 sh (-12.26%)
Murray Stahl 2,320,500 sh (-14.52%)
» 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%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2014-06-30 New Buy0.05%$47.6 - $56.32 $ 54.557%80021
John Keeley 2014-03-31 Reduce -64.32%0.59%$48.47 - $58.61 $ 54.552%368510
John Keeley 2013-09-30 Reduce -9.57%0.11%$45.02 - $50.84 $ 54.5515%1050636
Joel Greenblatt 2013-09-30 Sold Out 0.01%$45.02 - $50.84 $ 54.5515%0
Joel Greenblatt 2013-06-30 Reduce -82.2%0.04%$36.13 - $46.85 $ 54.5538%4940
Joel Greenblatt 2013-03-31 Reduce -56.86%0.06%$29.46 - $36.94 $ 54.5559%27759
Joel Greenblatt 2012-03-31 New Buy0.19%$25.02 - $29.56 $ 54.55203%77661
John Keeley 2011-09-30 Add 32.01%0.16%$21.67 - $27.28 $ 54.55123%1185516
George Soros 2011-09-30 Sold Out 0.01%$21.67 - $27.28 $ 54.55123%0
John Keeley 2011-06-30 New Buy0.36%$23.4 - $28.17 $ 54.55109%898032
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 26.50
CBOE's P/E(ttm) is ranked higher than
64% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 23.30 vs. CBOE: 26.50 )
CBOE' s 10-Year P/E(ttm) Range
Min: 15.59   Max: 28.76
Current: 26.5

15.59
28.76
P/B 17.74
CBOE's P/B is ranked lower than
57% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.50 vs. CBOE: 17.74 )
CBOE' s 10-Year P/B Range
Min: 4.68   Max: 17.95
Current: 17.74

4.68
17.95
P/S 8.15
CBOE's P/S is ranked higher than
52% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.39 vs. CBOE: 8.15 )
CBOE' s 10-Year P/S Range
Min: 4.31   Max: 8.67
Current: 8.15

4.31
8.67
PFCF 25.45
CBOE's PFCF is ranked higher than
79% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: 25.45 )
CBOE' s 10-Year PFCF Range
Min: 12.08   Max: 37.73
Current: 25.45

12.08
37.73
EV-to-EBIT 15.56
CBOE's EV-to-EBIT is ranked higher than
76% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 20.81 vs. CBOE: 15.56 )
CBOE' s 10-Year EV-to-EBIT Range
Min: 8.2   Max: 16.9
Current: 15.56

8.2
16.9
PEG 1.81
CBOE's PEG is ranked higher than
89% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: 1.81 )
CBOE' s 10-Year PEG Range
Min: 1.08   Max: 1.27
Current: 1.81

1.08
1.27
Current Ratio 3.53
CBOE's Current Ratio is ranked higher than
84% of the 254 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.47 vs. CBOE: 3.53 )
CBOE' s 10-Year Current Ratio Range
Min: 0.97   Max: 7.07
Current: 3.53

0.97
7.07
Quick Ratio 3.53
CBOE's Quick Ratio is ranked higher than
84% of the 254 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.44 vs. CBOE: 3.53 )
CBOE' s 10-Year Quick Ratio Range
Min: 0.97   Max: 7.07
Current: 3.53

0.97
7.07

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.37
CBOE's Dividend Yield is ranked lower than
71% of the 321 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.60 vs. CBOE: 1.37 )
CBOE' s 10-Year Dividend Yield Range
Min: 0.4   Max: 1.91
Current: 1.37

0.4
1.91
Dividend Payout 0.35
CBOE's Dividend Payout is ranked higher than
81% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.95 vs. CBOE: 0.35 )
CBOE' s 10-Year Dividend Payout Range
Min: 0.27   Max: 0.5
Current: 0.35

0.27
0.5
Dividend growth (3y) 48.90
CBOE's Dividend growth (3y) is ranked higher than
94% of the 217 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.50 vs. CBOE: 48.90 )
CBOE' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 48.9
Current: 48.9

0
48.9
Yield on cost (5-Year) 1.40
CBOE's Yield on cost (5-Year) is ranked lower than
73% of the 323 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.71 vs. CBOE: 1.40 )
CBOE' s 10-Year Yield on cost (5-Year) Range
Min: 0.4   Max: 1.91
Current: 1.4

0.4
1.91
Share Buyback Rate 3.00
CBOE's Share Buyback Rate is ranked higher than
94% of the 296 Companies
in the Global Financial Exchanges industry.

( Industry Median: -0.70 vs. CBOE: 3.00 )
CBOE' s 10-Year Share Buyback Rate Range
Min: 3   Max: 1.1
Current: 3

Valuation & Return

vs
industry
vs
history
Price/Net Cash 201.74
CBOE's Price/Net Cash is ranked higher than
90% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: 201.74 )
CBOE' s 10-Year Price/Net Cash Range
Min: 8.56   Max: 181.81
Current: 201.74

8.56
181.81
Price/Net Current Asset Value 52.37
CBOE's Price/Net Current Asset Value is ranked higher than
88% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: 52.37 )
CBOE' s 10-Year Price/Net Current Asset Value Range
Min: 7.24   Max: 152.4
Current: 52.37

7.24
152.4
Price/Tangible Book 22.15
CBOE's Price/Tangible Book is ranked higher than
51% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.17 vs. CBOE: 22.15 )
CBOE' s 10-Year Price/Tangible Book Range
Min: 5.02   Max: 20.43
Current: 22.15

5.02
20.43
Price/Median PS Value 1.52
CBOE's Price/Median PS Value is ranked higher than
61% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.26 vs. CBOE: 1.52 )
CBOE' s 10-Year Price/Median PS Value Range
Min: 0.8   Max: 1.57
Current: 1.52

0.8
1.57
Price/Peter Lynch Fair Value 1.25
CBOE's Price/Peter Lynch Fair Value is ranked higher than
93% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9999.00 vs. CBOE: 1.25 )
CBOE' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1.13   Max: 1.13
Current: 1.25

Price/Graham Number 5.06
CBOE's Price/Graham Number is ranked higher than
60% of the 442 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.72 vs. CBOE: 5.06 )
CBOE' s 10-Year Price/Graham Number Range
Min: 2.12   Max: 4.93
Current: 5.06

2.12
4.93
Earnings Yield (Greenblatt) 6.40
CBOE's Earnings Yield (Greenblatt) is ranked higher than
67% of the 378 Companies
in the Global Financial Exchanges industry.

( Industry Median: 6.30 vs. CBOE: 6.40 )
CBOE' s 10-Year Earnings Yield (Greenblatt) Range
Min: 5.9   Max: 12.2
Current: 6.4

5.9
12.2
Forward Rate of Return (Yacktman) 23.33
CBOE's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 335 Companies
in the Global Financial Exchanges industry.

( Industry Median: 5.40 vs. CBOE: 23.33 )
CBOE' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 23.7   Max: 24.2
Current: 23.33

23.7
24.2

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. The primary business of the Company is the operation of markets for the trading of listed options contracts for three broad product categories: the stocks of individual corporations (equity options), various market indexes (index options) and securitized baskets of equity (exchange-traded funds). In addition to traditional open outcry markets, the Company provides electronic trading through its hybrid trading model that operates on a proprietary technology platform known as CBOEdirect. The Company's direct competitors are NYSE Amex, BOX, ISE, NYSE Arca, NASDAQ OMX PHLX, NOM and BATS. Federal securities laws have established a two-tiered system for the regulation of securities markets and market participants. The first tier consists of the SEC, which has primary responsibility for enforcing federal securities laws. The second tier consists of SROs, which are non-governmental entities that must register with and are regulated by the SEC.
» More Articles for CBOE

Headlines

Articles On GuruFocus.com
CBOE is a Long Term Buy with One Heck of Moat Aug 25 2014 
Murray Stahl Adds Howard Hughes, Leucadia National and CBOE Holdings Aug 22 2011 
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