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Also traded in: Germany, Mexico, USA

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 0.11
CBOE's Cash-to-Debt is ranked lower than
88% of the 682 Companies
in the Global Financial Exchanges industry.

( Industry Median: 5.11 vs. CBOE: 0.11 )
Ranked among companies with meaningful Cash-to-Debt only.
CBOE' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.1  Med: No Debt Max: No Debt
Current: 0.11
0.1
No Debt
Equity-to-Asset 0.62
CBOE's Equity-to-Asset is ranked higher than
53% of the 631 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.54 vs. CBOE: 0.62 )
Ranked among companies with meaningful Equity-to-Asset only.
CBOE' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.15  Med: 0.66 Max: 0.85
Current: 0.62
0.15
0.85
Debt-to-Equity 0.39
CBOE's Debt-to-Equity is ranked higher than
51% of the 399 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.41 vs. CBOE: 0.39 )
Ranked among companies with meaningful Debt-to-Equity only.
CBOE' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.38  Med: 0.4 Max: 0.54
Current: 0.39
0.38
0.54
Debt-to-EBITDA 1.62
CBOE's Debt-to-EBITDA is ranked higher than
62% of the 383 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.68 vs. CBOE: 1.62 )
Ranked among companies with meaningful Debt-to-EBITDA only.
CBOE' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.62  Med: 2.18 Max: 2.18
Current: 1.62
1.62
2.18
Interest Coverage 13.62
CBOE's Interest Coverage is ranked lower than
63% of the 498 Companies
in the Global Financial Exchanges industry.

( Industry Median: 222.10 vs. CBOE: 13.62 )
Ranked among companies with meaningful Interest Coverage only.
CBOE' s Interest Coverage Range Over the Past 10 Years
Min: 10.71  Med: 5066.66 Max: No Debt
Current: 13.62
10.71
No Debt
Piotroski F-Score: 4
Altman Z-Score: 4.62
Beneish M-Score: -2.11
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 % 21.35
CBOE's Operating Margin % is ranked higher than
60% of the 527 Companies
in the Global Financial Exchanges industry.

( Industry Median: 10.95 vs. CBOE: 21.35 )
Ranked among companies with meaningful Operating Margin % only.
CBOE' s Operating Margin % Range Over the Past 10 Years
Min: 20.47  Med: 46.25 Max: 50.84
Current: 21.35
20.47
50.84
Net Margin % 20.62
CBOE's Net Margin % is ranked higher than
57% of the 667 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.87 vs. CBOE: 20.62 )
Ranked among companies with meaningful Net Margin % only.
CBOE' s Net Margin % Range Over the Past 10 Years
Min: 18.02  Med: 27.55 Max: 30.88
Current: 20.62
18.02
30.88
ROE % 17.44
CBOE's ROE % is ranked higher than
78% of the 671 Companies
in the Global Financial Exchanges industry.

( Industry Median: 6.44 vs. CBOE: 17.44 )
Ranked among companies with meaningful ROE % only.
CBOE' s ROE % Range Over the Past 10 Years
Min: 17.44  Med: 64.68 Max: 80.08
Current: 17.44
17.44
80.08
ROA % 10.37
CBOE's ROA % is ranked higher than
81% of the 687 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.01 vs. CBOE: 10.37 )
Ranked among companies with meaningful ROA % only.
CBOE' s ROA % Range Over the Past 10 Years
Min: 10.37  Med: 44.24 Max: 53.34
Current: 10.37
10.37
53.34
ROC (Joel Greenblatt) % 615.05
CBOE's ROC (Joel Greenblatt) % is ranked higher than
90% of the 525 Companies
in the Global Financial Exchanges industry.

( Industry Median: 26.76 vs. CBOE: 615.05 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
CBOE' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 182.72  Med: 341 Max: 615.05
Current: 615.05
182.72
615.05
3-Year Revenue Growth Rate 42.10
CBOE's 3-Year Revenue Growth Rate is ranked higher than
89% of the 609 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.50 vs. CBOE: 42.10 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
CBOE' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 7.6  Med: 9.7 Max: 42.1
Current: 42.1
7.6
42.1
3-Year EBITDA Growth Rate 8.50
CBOE's 3-Year EBITDA Growth Rate is ranked higher than
55% of the 422 Companies
in the Global Financial Exchanges industry.

( Industry Median: 6.80 vs. CBOE: 8.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
CBOE' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 6.1  Med: 10.6 Max: 21.2
Current: 8.5
6.1
21.2
3-Year EPS without NRI Growth Rate 18.60
CBOE's 3-Year EPS without NRI Growth Rate is ranked higher than
65% of the 500 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.60 vs. CBOE: 18.60 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
CBOE' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 4.5  Med: 13.3 Max: 24.5
Current: 18.6
4.5
24.5
GuruFocus has detected 4 Warning Signs with Cboe Global Markets Inc CBOE.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» CBOE's 30-Y Financials

Financials


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

» Details

Guru Trades

Q4 2017

CBOE Guru Trades in Q4 2017

Pioneer Investments 107,077 sh (New)
Ron Baron 204,890 sh (+0.45%)
Murray Stahl 634,051 sh (+32.39%)
Jim Simons 4,520,000 sh (+2.97%)
Chuck Royce 2,226 sh (unchged)
Joel Greenblatt Sold Out
Columbia Wanger 162,460 sh (-49.42%)
» More
Q1 2018

CBOE Guru Trades in Q1 2018

George Soros 76,257 sh (New)
Joel Greenblatt 2,472 sh (New)
Steven Cohen 106,600 sh (New)
Ron Baron 210,601 sh (+2.79%)
Murray Stahl 679,174 sh (+7.12%)
Chuck Royce 2,226 sh (unchged)
Jim Simons 4,506,500 sh (-0.30%)
Pioneer Investments 96,754 sh (-9.64%)
» More
Q2 2018

CBOE Guru Trades in Q2 2018

Paul Tudor Jones 12,952 sh (New)
Joel Greenblatt 18,912 sh (+665.05%)
Pioneer Investments 198,255 sh (+104.91%)
Jim Simons 5,190,200 sh (+15.17%)
Chuck Royce 2,226 sh (unchged)
Caxton Associates 150,000 sh (unchged)
George Soros 68,111 sh (-10.68%)
Ron Baron 200,000 sh (-5.03%)
Murray Stahl 672,784 sh (-0.94%)
Steven Cohen 62,300 sh (-41.56%)
» More
Q3 2018

CBOE Guru Trades in Q3 2018

PRIMECAP Management 647,600 sh (New)
Murray Stahl 700,754 sh (+4.16%)
Steven Cohen 75,000 sh (+20.39%)
Paul Tudor Jones 24,392 sh (+88.33%)
Ron Baron 200,000 sh (unchged)
Chuck Royce Sold Out
Joel Greenblatt Sold Out
Jim Simons 4,570,700 sh (-11.94%)
Pioneer Investments 38,883 sh (-80.39%)
George Soros 5,768 sh (-91.53%)
» 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%)

Guru Date Action
Impact Price Range
(Average)*
Change from Average Comment Current Shares
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Business Description

Industry: Brokers & Exchanges » Financial Exchanges    NAICS: 523210    SIC: 6231
Compare:TSE:8697, NAS:NDAQ, ASX:ASX, BSP:B3SA3, SGX:S68, XPAR:ENX, MIC:MOEX, TSX:X, XMCE:BME, LSE:LSE, DFM:DFM, XKLS:1818, JSE:JSE, MEX:BOLSAA, NSE:BSE, NSE:MCX, WAR:GPW, ATH:EXAE, PHS:PSE, OTCPK:OTCM » details
Traded in other countries:C67.Germany, CBOE.Mexico, CBOE.USA,
Headquarter Location:USA
Cboe Global Markets Inc is an exchange holding company. It offers trading options on various market indexes, futures, U.S. and European equities, exchange-traded products, and multi-asset volatility products.

Cboe Global Markets Inc 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, the company became a for-profit corporation in 2006 and went public in 2010.

Ratios

vs
industry
vs
history
PE Ratio 21.70
CBOE's PE Ratio is ranked lower than
57% of the 532 Companies
in the Global Financial Exchanges industry.

( Industry Median: 17.59 vs. CBOE: 21.70 )
Ranked among companies with meaningful PE Ratio only.
CBOE' s PE Ratio Range Over the Past 10 Years
Min: 15.59  Med: 24.98 Max: 65.29
Current: 21.7
15.59
65.29
Forward PE Ratio 21.69
CBOE's Forward PE Ratio is ranked lower than
64% of the 89 Companies
in the Global Financial Exchanges industry.

( Industry Median: 17.89 vs. CBOE: 21.69 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 21.70
CBOE's PE Ratio without NRI is ranked lower than
56% of the 530 Companies
in the Global Financial Exchanges industry.

( Industry Median: 18.01 vs. CBOE: 21.70 )
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: 24.98 Max: 65.29
Current: 21.7
15.59
65.29
Price-to-Owner-Earnings 26.44
CBOE's Price-to-Owner-Earnings is ranked higher than
57% of the 250 Companies
in the Global Financial Exchanges industry.

( Industry Median: 16.75 vs. CBOE: 26.44 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
CBOE' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 21.51  Med: 25.96 Max: 238.65
Current: 26.44
21.51
238.65
PB Ratio 3.59
CBOE's PB Ratio is ranked lower than
78% of the 659 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.16 vs. CBOE: 3.59 )
Ranked among companies with meaningful PB Ratio only.
CBOE' s PB Ratio Range Over the Past 10 Years
Min: 3.19  Med: 12.08 Max: 23.52
Current: 3.59
3.19
23.52
PS Ratio 4.29
CBOE's PS Ratio is ranked lower than
54% of the 640 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.42 vs. CBOE: 4.29 )
Ranked among companies with meaningful PS Ratio only.
CBOE' s PS Ratio Range Over the Past 10 Years
Min: 3.89  Med: 6.68 Max: 9.38
Current: 4.29
3.89
9.38
Price-to-Free-Cash-Flow 24.46
CBOE's Price-to-Free-Cash-Flow is ranked lower than
60% of the 168 Companies
in the Global Financial Exchanges industry.

( Industry Median: 16.03 vs. CBOE: 24.46 )
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: 23.63 Max: 94.37
Current: 24.46
12.1
94.37
Price-to-Operating-Cash-Flow 22.55
CBOE's Price-to-Operating-Cash-Flow is ranked lower than
67% of the 198 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.69 vs. CBOE: 22.55 )
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: 20.04 Max: 60.37
Current: 22.55
10.3
60.37
EV-to-EBIT 22.84
CBOE's EV-to-EBIT is ranked lower than
62% of the 411 Companies
in the Global Financial Exchanges industry.

( Industry Median: 14.83 vs. CBOE: 22.84 )
Ranked among companies with meaningful EV-to-EBIT only.
CBOE' s EV-to-EBIT Range Over the Past 10 Years
Min: 8.2  Med: 15.3 Max: 43.7
Current: 22.84
8.2
43.7
EV-to-EBITDA 16.44
CBOE's EV-to-EBITDA is ranked lower than
56% of the 414 Companies
in the Global Financial Exchanges industry.

( Industry Median: 13.58 vs. CBOE: 16.44 )
Ranked among companies with meaningful EV-to-EBITDA only.
CBOE' s EV-to-EBITDA Range Over the Past 10 Years
Min: 7.2  Med: 13.4 Max: 31.4
Current: 16.44
7.2
31.4
EV-to-Revenue 4.68
CBOE's EV-to-Revenue is ranked higher than
50% of the 587 Companies
in the Global Financial Exchanges industry.

( Industry Median: 4.20 vs. CBOE: 4.68 )
Ranked among companies with meaningful EV-to-Revenue only.
CBOE' s EV-to-Revenue Range Over the Past 10 Years
Min: 3.7  Med: 7.1 Max: 10.4
Current: 4.68
3.7
10.4
PEG Ratio 2.55
CBOE's PEG Ratio is ranked lower than
60% of the 146 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.55 vs. CBOE: 2.55 )
Ranked among companies with meaningful PEG Ratio only.
CBOE' s PEG Ratio Range Over the Past 10 Years
Min: 1.08  Med: 2.18 Max: 8.62
Current: 2.55
1.08
8.62
Current Ratio 0.91
CBOE's Current Ratio is ranked lower than
91% of the 505 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.42 vs. CBOE: 0.91 )
Ranked among companies with meaningful Current Ratio only.
CBOE' s Current Ratio Range Over the Past 10 Years
Min: 0.86  Med: 2.83 Max: 7.07
Current: 0.91
0.86
7.07
Quick Ratio 0.91
CBOE's Quick Ratio is ranked lower than
89% of the 505 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.17 vs. CBOE: 0.91 )
Ranked among companies with meaningful Quick Ratio only.
CBOE' s Quick Ratio Range Over the Past 10 Years
Min: 0.86  Med: 2.83 Max: 7.07
Current: 0.91
0.86
7.07
Days Sales Outstanding 30.66
CBOE's Days Sales Outstanding is ranked higher than
60% of the 406 Companies
in the Global Financial Exchanges industry.

( Industry Median: 49.06 vs. CBOE: 30.66 )
Ranked among companies with meaningful Days Sales Outstanding only.
CBOE' s Days Sales Outstanding Range Over the Past 10 Years
Min: 25.82  Med: 32.18 Max: 39.82
Current: 30.66
25.82
39.82
Days Payable 1.54
CBOE's Days Payable is ranked lower than
84% of the 232 Companies
in the Global Financial Exchanges industry.

( Industry Median: 32.02 vs. CBOE: 1.54 )
Ranked among companies with meaningful Days Payable only.
CBOE' s Days Payable Range Over the Past 10 Years
Min: 1.54  Med: 14.84 Max: 353.8
Current: 1.54
1.54
353.8

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.07
CBOE's Dividend Yield % is ranked lower than
82% of the 635 Companies
in the Global Financial Exchanges industry.

( Industry Median: 2.86 vs. CBOE: 1.07 )
Ranked among companies with meaningful Dividend Yield % only.
CBOE' s Dividend Yield % Range Over the Past 10 Years
Min: 0.4  Med: 1.34 Max: 1.91
Current: 1.07
0.4
1.91
Dividend Payout Ratio 0.23
CBOE's Dividend Payout Ratio is ranked higher than
84% of the 367 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.41 vs. CBOE: 0.23 )
Ranked among companies with meaningful Dividend Payout Ratio only.
CBOE' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.19  Med: 0.32 Max: 0.42
Current: 0.23
0.19
0.42
3-Year Dividend Growth Rate 10.10
CBOE's 3-Year Dividend Growth Rate is ranked higher than
57% of the 221 Companies
in the Global Financial Exchanges industry.

( Industry Median: 6.30 vs. CBOE: 10.10 )
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: 13.3 Max: 48.9
Current: 10.1
0
48.9
Forward Dividend Yield % 1.18
CBOE's Forward Dividend Yield % is ranked lower than
78% of the 618 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.03 vs. CBOE: 1.18 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.04
CBOE's 5-Year Yield-on-Cost % is ranked lower than
67% of the 643 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.57 vs. CBOE: 2.04 )
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: 0.76  Med: 2.56 Max: 3.65
Current: 2.04
0.76
3.65
3-Year Average Share Buyback Ratio -10.30
CBOE's 3-Year Average Share Buyback Ratio is ranked lower than
73% of the 337 Companies
in the Global Financial Exchanges industry.

( Industry Median: -2.10 vs. CBOE: -10.30 )
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: -10.3  Med: 1.8 Max: 5.2
Current: -10.3
-10.3
5.2

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 1.83
CBOE's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
68% of the 232 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.24 vs. CBOE: 1.83 )
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: 1.66  Med: 1.95 Max: 2.89
Current: 1.83
1.66
2.89
Price-to-Median-PS-Value 0.65
CBOE's Price-to-Median-PS-Value is ranked higher than
76% of the 596 Companies
in the Global Financial Exchanges industry.

( Industry Median: 0.95 vs. CBOE: 0.65 )
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: 0.64  Med: 1.01 Max: 1.31
Current: 0.65
0.64
1.31
Price-to-Peter-Lynch-Fair-Value 2.30
CBOE's Price-to-Peter-Lynch-Fair-Value is ranked lower than
70% of the 112 Companies
in the Global Financial Exchanges industry.

( Industry Median: 1.08 vs. CBOE: 2.30 )
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: 2.25 Max: 7.7
Current: 2.3
1.13
7.7
Earnings Yield (Greenblatt) % 4.38
CBOE's Earnings Yield (Greenblatt) % is ranked higher than
54% of the 552 Companies
in the Global Financial Exchanges industry.

( Industry Median: 3.94 vs. CBOE: 4.38 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
CBOE' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 2.3  Med: 6.6 Max: 12.2
Current: 4.38
2.3
12.2
Forward Rate of Return (Yacktman) % 13.22
CBOE's Forward Rate of Return (Yacktman) % is ranked higher than
59% of the 194 Companies
in the Global Financial Exchanges industry.

( Industry Median: 9.30 vs. CBOE: 13.22 )
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: 9.3  Med: 14.7 Max: 23.7
Current: 13.22
9.3
23.7

More Statistics

Revenue (TTM) (Mil) $2,641.80
EPS (TTM) $ 4.65
Volatility28.00%
52-Week Range $91.10 - 138.54
Shares Outstanding (Mil)111.82

Analyst Estimate

Dec18 Dec19 Dec20
Revenue (Mil $) 1,198 1,256 1,292
EBIT (Mil $) 581 597 662
EBITDA (Mil $) 769 814 834
EPS ($) 3.36 3.93 4.26
EPS without NRI ($) 3.36 3.93 4.26
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($) 1.16 1.29 1.39

Piotroski F-Score Details

Piotroski F-Score: 44
Positive ROAY
Positive CFROAY
Higher ROA yoyN
CFROA > ROAN
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyY
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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