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Also traded in: Germany, Mexico

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 : 5/10

vs
industry
vs
history
Cash-to-Debt 0.13
NAS:CBOE's Cash-to-Debt is ranked lower than
95% of the 737 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1845.25 vs. NAS:CBOE: 0.13 )
Ranked among companies with meaningful Cash-to-Debt only.
NAS:CBOE' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.13  Med: No Debt Max: No Debt
Current: 0.13
Equity-to-Asset 0.51
NAS:CBOE's Equity-to-Asset is ranked higher than
50% of the 575 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.51 vs. NAS:CBOE: 0.51 )
Ranked among companies with meaningful Equity-to-Asset only.
NAS:CBOE' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.15  Med: 0.67 Max: 0.85
Current: 0.51
0.15
0.85
Interest Coverage 17.97
NAS:CBOE's Interest Coverage is ranked lower than
58% of the 630 Companies
in the Global Financial Exchanges industry.

( Industry Median: 78.81 vs. NAS:CBOE: 17.97 )
Ranked among companies with meaningful Interest Coverage only.
NAS:CBOE' s Interest Coverage Range Over the Past 10 Years
Min: 17.97  Med: 7440.19 Max: No Debt
Current: 17.97
Piotroski F-Score: 3
Altman Z-Score: 2.84
Beneish M-Score: 0.27
WACC vs ROIC
3.96%
15.92%
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 : 7/10

vs
industry
vs
history
Operating Margin % 28.77
NAS:CBOE's Operating Margin % is ranked higher than
64% of the 720 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.65 vs. NAS:CBOE: 28.77 )
Ranked among companies with meaningful Operating Margin % only.
NAS:CBOE' s Operating Margin % Range Over the Past 10 Years
Min: 28.77  Med: 47.55 Max: 50.84
Current: 28.77
28.77
50.84
Net Margin % 17.84
NAS:CBOE's Net Margin % is ranked higher than
59% of the 720 Companies
in the Global Financial Exchanges industry.

( Industry Median: 10.97 vs. NAS:CBOE: 17.84 )
Ranked among companies with meaningful Net Margin % only.
NAS:CBOE' s Net Margin % Range Over the Past 10 Years
Min: 17.84  Med: 28.27 Max: 32.31
Current: 17.84
17.84
32.31
ROE % 19.54
NAS:CBOE's ROE % is ranked higher than
82% of the 721 Companies
in the Global Financial Exchanges industry.

( Industry Median: 5.65 vs. NAS:CBOE: 19.54 )
Ranked among companies with meaningful ROE % only.
NAS:CBOE' s ROE % Range Over the Past 10 Years
Min: 19.54  Med: 65.32 Max: 80.09
Current: 19.54
19.54
80.09
ROA % 10.75
NAS:CBOE's ROA % is ranked higher than
85% of the 738 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.74 vs. NAS:CBOE: 10.75 )
Ranked among companies with meaningful ROA % only.
NAS:CBOE' s ROA % Range Over the Past 10 Years
Min: 10.75  Med: 45.1 Max: 53.34
Current: 10.75
10.75
53.34
ROC (Joel Greenblatt) % 268.68
NAS:CBOE's ROC (Joel Greenblatt) % is ranked higher than
82% of the 571 Companies
in the Global Financial Exchanges industry.

( Industry Median: 19.82 vs. NAS:CBOE: 268.68 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
NAS:CBOE' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 173.78  Med: 281.58 Max: 372.02
Current: 268.68
173.78
372.02
3-Year Revenue Growth Rate 7.20
NAS:CBOE's 3-Year Revenue Growth Rate is ranked higher than
57% of the 574 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.50 vs. NAS:CBOE: 7.20 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
NAS:CBOE' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 7.2  Med: 8.3 Max: 12.8
Current: 7.2
7.2
12.8
3-Year EBITDA Growth Rate 6.10
NAS:CBOE's 3-Year EBITDA Growth Rate is ranked lower than
52% of the 466 Companies
in the Global Financial Exchanges industry.

( Industry Median: 7.90 vs. NAS:CBOE: 6.10 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NAS:CBOE' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 6.1  Med: 10.9 Max: 21.6
Current: 6.1
6.1
21.6
3-Year EPS without NRI Growth Rate 4.50
NAS:CBOE's 3-Year EPS without NRI Growth Rate is ranked lower than
57% of the 454 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9.00 vs. NAS:CBOE: 4.50 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
NAS:CBOE' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 4.5  Med: 12.35 Max: 24.5
Current: 4.5
4.5
24.5
GuruFocus has detected 7 Warning Signs with CBOE Holdings Inc $NAS:CBOE.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» NAS:CBOE's 30-Y Financials

Financials (Next Earnings Date: 2017-08-09 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

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Business Description

Industry: Brokers & Exchanges » Financial Exchanges    NAICS: 523210    SIC: 6231
Compare:OTCPK:JPXGY, NAS:NDAQ, OTCPK:ASXFY, OTCPK:SPXCY, OTCPK:LDNXF, OTCPK:JSEJF, OTCPK:OTCM, NAS:GLBR, OTCPK:DBOEY, OTCPK:HKXCY, NYSE:ICE, NAS:CME » details
Traded in other countries:C67.Germany, CBOE.Mexico,
Headquarter Location:USA
CBOE Holdings Inc is engaged in trading of listed or exchange-traded, derivatives contracts on four categories, index options, futures on VIX, options on the stocks of individual equity, on the other exchange-traded funds and exchange traded notes.

CBOE Holdings 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, CBOE Holdings became a for-profit corporation in 2006 and went public in 2010.

Ratios

vs
industry
vs
history
PE Ratio 48.52
CBOE's PE Ratio is ranked lower than
83% of the 529 Companies
in the Global Financial Exchanges industry.

( Industry Median: 20.06 vs. CBOE: 48.52 )
Ranked among companies with meaningful PE Ratio only.
CBOE' s PE Ratio Range Over the Past 10 Years
Min: 15.59  Med: 24.68 Max: 49.04
Current: 48.52
15.59
49.04
Forward PE Ratio 26.53
CBOE's Forward PE Ratio is ranked lower than
90% of the 68 Companies
in the Global Financial Exchanges industry.

( Industry Median: 18.48 vs. CBOE: 26.53 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 48.52
CBOE's PE Ratio without NRI is ranked lower than
83% of the 531 Companies
in the Global Financial Exchanges industry.

( Industry Median: 20.07 vs. CBOE: 48.52 )
Ranked among companies with meaningful PE Ratio without NRI only.
CBOE' s PE Ratio without NRI Range Over the Past 10 Years
Min: 15.59  Med: 24.68 Max: 49.04
Current: 48.52
15.59
49.04
Price-to-Owner-Earnings 197.69
CBOE's Price-to-Owner-Earnings is ranked lower than
97% of the 258 Companies
in the Global Financial Exchanges industry.

( Industry Median: 16.51 vs. CBOE: 197.69 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
CBOE' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 21.06  Med: 24.98 Max: 199.89
Current: 197.69
21.06
199.89
PB Ratio 3.61
CBOE's PB Ratio is ranked lower than
81% of the 579 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.29 vs. CBOE: 3.61 )
Ranked among companies with meaningful PB Ratio only.
CBOE' s PB Ratio Range Over the Past 10 Years
Min: 3.21  Med: 13.45 Max: 23.52
Current: 3.61
3.21
23.52
PS Ratio 8.94
CBOE's PS Ratio is ranked lower than
73% of the 697 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.89 vs. CBOE: 8.94 )
Ranked among companies with meaningful PS Ratio only.
CBOE' s PS Ratio Range Over the Past 10 Years
Min: 4.3  Med: 7.57 Max: 9.91
Current: 8.94
4.3
9.91
Price-to-Free-Cash-Flow 96.90
CBOE's Price-to-Free-Cash-Flow is ranked lower than
93% of the 194 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.08 vs. CBOE: 96.90 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
CBOE' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 12.1  Med: 23.35 Max: 97.98
Current: 96.9
12.1
97.98
Price-to-Operating-Cash-Flow 61.86
CBOE's Price-to-Operating-Cash-Flow is ranked lower than
90% of the 224 Companies
in the Global Financial Exchanges industry.

( Industry Median: 12.44 vs. CBOE: 61.86 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
CBOE' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 10.3  Med: 19.47 Max: 62.59
Current: 61.86
10.3
62.59
EV-to-EBIT 43.57
CBOE's EV-to-EBIT is ranked lower than
80% of the 537 Companies
in the Global Financial Exchanges industry.

( Industry Median: 15.63 vs. CBOE: 43.57 )
Ranked among companies with meaningful EV-to-EBIT only.
CBOE' s EV-to-EBIT Range Over the Past 10 Years
Min: 8.2  Med: 14.65 Max: 43.94
Current: 43.57
8.2
43.94
EV-to-EBITDA 35.61
CBOE's EV-to-EBITDA is ranked lower than
77% of the 555 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.31 vs. CBOE: 35.61 )
Ranked among companies with meaningful EV-to-EBITDA only.
CBOE' s EV-to-EBITDA Range Over the Past 10 Years
Min: 7.3  Med: 12.9 Max: 35.92
Current: 35.61
7.3
35.92
PEG Ratio 5.50
CBOE's PEG Ratio is ranked lower than
84% of the 204 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.20 vs. CBOE: 5.50 )
Ranked among companies with meaningful PEG Ratio only.
CBOE' s PEG Ratio Range Over the Past 10 Years
Min: 1.08  Med: 1.95 Max: 5.82
Current: 5.5
1.08
5.82
Current Ratio 1.75
CBOE's Current Ratio is ranked lower than
62% of the 536 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.55 vs. CBOE: 1.75 )
Ranked among companies with meaningful Current Ratio only.
CBOE' s Current Ratio Range Over the Past 10 Years
Min: 0.97  Med: 2.94 Max: 7.07
Current: 1.75
0.97
7.07
Quick Ratio 1.75
CBOE's Quick Ratio is ranked lower than
57% of the 536 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.20 vs. CBOE: 1.75 )
Ranked among companies with meaningful Quick Ratio only.
CBOE' s Quick Ratio Range Over the Past 10 Years
Min: 0.97  Med: 2.94 Max: 7.07
Current: 1.75
0.97
7.07
Days Sales Outstanding 100.09
CBOE's Days Sales Outstanding is ranked lower than
67% of the 313 Companies
in the Global Financial Exchanges industry.

( Industry Median: 51.57 vs. CBOE: 100.09 )
Ranked among companies with meaningful Days Sales Outstanding only.
CBOE' s Days Sales Outstanding Range Over the Past 10 Years
Min: 25.82  Med: 31.83 Max: 100.09
Current: 100.09
25.82
100.09
Days Payable 115.24
CBOE's Days Payable is ranked higher than
74% of the 156 Companies
in the Global Financial Exchanges industry.

( Industry Median: 28.00 vs. CBOE: 115.24 )
Ranked among companies with meaningful Days Payable only.
CBOE' s Days Payable Range Over the Past 10 Years
Min: 0  Med: 0 Max: 115.24
Current: 115.24
0
115.24

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.13
CBOE's Dividend Yield % is ranked lower than
81% of the 560 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.67 vs. CBOE: 1.13 )
Ranked among companies with meaningful Dividend Yield % only.
CBOE' s Dividend Yield % Range Over the Past 10 Years
Min: 0.4  Med: 1.37 Max: 1.91
Current: 1.13
0.4
1.91
Dividend Payout Ratio 0.54
CBOE's Dividend Payout Ratio is ranked higher than
75% of the 327 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.49 vs. CBOE: 0.54 )
Ranked among companies with meaningful Dividend Payout Ratio only.
CBOE' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.19  Med: 0.33 Max: 0.54
Current: 0.54
0.19
0.54
3-Year Dividend Growth Rate 13.30
CBOE's 3-Year Dividend Growth Rate is ranked higher than
62% of the 242 Companies
in the Global Financial Exchanges industry.

( Industry Median: 6.30 vs. CBOE: 13.30 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
CBOE' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 15.5 Max: 48.9
Current: 13.3
0
48.9
Forward Dividend Yield % 1.13
CBOE's Forward Dividend Yield % is ranked lower than
83% of the 533 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.85 vs. CBOE: 1.13 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.47
CBOE's 5-Year Yield-on-Cost % is ranked lower than
57% of the 696 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.23 vs. CBOE: 2.47 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
CBOE' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.88  Med: 3.02 Max: 4.21
Current: 2.47
0.88
4.21
3-Year Average Share Buyback Ratio 2.10
CBOE's 3-Year Average Share Buyback Ratio is ranked higher than
86% of the 381 Companies
in the Global Financial Exchanges industry.

( Industry Median: -0.50 vs. CBOE: 2.10 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
CBOE' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: 1.2  Med: 1.65 Max: 2.1
Current: 2.1
1.2
2.1

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 1.85
CBOE's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
70% of the 250 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.24 vs. CBOE: 1.85 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
CBOE' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 1.69  Med: 1.95 Max: 2.89
Current: 1.85
1.69
2.89
Price-to-Median-PS-Value 1.18
CBOE's Price-to-Median-PS-Value is ranked lower than
62% of the 654 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.04 vs. CBOE: 1.18 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
CBOE' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.57  Med: 0.97 Max: 1.2
Current: 1.18
0.57
1.2
Price-to-Peter-Lynch-Fair-Value 5.76
CBOE's Price-to-Peter-Lynch-Fair-Value is ranked lower than
96% of the 129 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.09 vs. CBOE: 5.76 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
CBOE' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 1.13  Med: 1.93 Max: 5.81
Current: 5.76
1.13
5.81
Earnings Yield (Greenblatt) % 2.29
CBOE's Earnings Yield (Greenblatt) % is ranked lower than
58% of the 736 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.96 vs. CBOE: 2.29 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
CBOE' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 2.29  Med: 6.8 Max: 12.2
Current: 2.29
2.29
12.2
Forward Rate of Return (Yacktman) % 10.83
CBOE's Forward Rate of Return (Yacktman) % is ranked higher than
53% of the 256 Companies
in the Global Financial Exchanges industry.

( Industry Median: 10.08 vs. CBOE: 10.83 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
CBOE' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 10.8  Med: 17.2 Max: 24.9
Current: 10.83
10.8
24.9

More Statistics

Revenue (TTM) (Mil) $850.82
EPS (TTM) $ 1.83
Beta0.30
Short Percentage of Float3.50%
52-Week Range $61.58 - 90.29
Shares Outstanding (Mil)112.04

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 1,033 1,160 1,198
EPS ($) 3.28 3.87 3.72
EPS without NRI ($) 3.28 3.87 3.72
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 1.00 1.10 1.19
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