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Cboe Global Markets (MEX:CBOE) Piotroski F-Score : 7 (As of Mar. 15, 2025)


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What is Cboe Global Markets Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cboe Global Markets has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Cboe Global Markets's Piotroski F-Score or its related term are showing as below:

MEX:CBOE' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Cboe Global Markets was 7. The lowest was 4. And the median was 6.


Cboe Global Markets Piotroski F-Score Historical Data

The historical data trend for Cboe Global Markets's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cboe Global Markets Piotroski F-Score Chart

Cboe Global Markets Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 6.00 7.00 7.00

Cboe Global Markets Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 8.00 9.00 8.00 7.00

Competitive Comparison of Cboe Global Markets's Piotroski F-Score

For the Financial Data & Stock Exchanges subindustry, Cboe Global Markets's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Cboe Global Markets's Piotroski F-Score Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Cboe Global Markets's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cboe Global Markets's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 3476.915 + 2572.142 + 4302.331 + 4098.145 = MXN14,450 Mil.
Cash Flow from Operations was 14863.606 + 27368.402 + -11390.839 + -14815.889 = MXN16,025 Mil.
Revenue was 15885.935 + 17843.78 + 20787.05 + 23099.773 = MXN77,617 Mil.
Gross Profit was 6419.431 + 7285.905 + 8130.125 + 8605.062 = MXN30,441 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(127094.682 + 135294.33 + 169563.545 + 171532.049 + 162447.133) / 5 = MXN153186.3478 Mil.
Total Assets at the begining of this year (Dec23) was MXN127,095 Mil.
Long-Term Debt & Capital Lease Obligation was MXN32,939 Mil.
Total Current Assets was MXN51,703 Mil.
Total Current Liabilities was MXN29,098 Mil.
Net Income was 3125.535 + 2876.746 + 3626.614 + 3598.541 = MXN13,227 Mil.

Revenue was 17812.305 + 15563.232 + 15830.294 + 16442.954 = MXN65,649 Mil.
Gross Profit was 6507.025 + 6182.09 + 6695.824 + 6555.455 = MXN25,940 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(136450.554 + 142460.587 + 123365.79 + 134691.621 + 127094.682) / 5 = MXN132812.6468 Mil.
Total Assets at the begining of last year (Dec22) was MXN136,451 Mil.
Long-Term Debt & Capital Lease Obligation was MXN26,989 Mil.
Total Current Assets was MXN33,597 Mil.
Total Current Liabilities was MXN23,482 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cboe Global Markets's current Net Income (TTM) was 14,450. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cboe Global Markets's current Cash Flow from Operations (TTM) was 16,025. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec23)
=14449.533/127094.682
=0.11369109

ROA (Last Year)=Net Income/Total Assets (Dec22)
=13227.436/136450.554
=0.09693941

Cboe Global Markets's return on assets of this year was 0.11369109. Cboe Global Markets's return on assets of last year was 0.09693941. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Cboe Global Markets's current Net Income (TTM) was 14,450. Cboe Global Markets's current Cash Flow from Operations (TTM) was 16,025. ==> 16,025 > 14,450 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=32939.493/153186.3478
=0.21502891

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=26989.054/132812.6468
=0.20321148

Cboe Global Markets's gearing of this year was 0.21502891. Cboe Global Markets's gearing of last year was 0.20321148. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=51703.366/29097.873
=1.77687785

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=33597.129/23482.175
=1.4307503

Cboe Global Markets's current ratio of this year was 1.77687785. Cboe Global Markets's current ratio of last year was 1.4307503. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Cboe Global Markets's number of shares in issue this year was 105.2. Cboe Global Markets's number of shares in issue last year was 106.2. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=30440.523/77616.538
=0.3921912

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=25940.394/65648.785
=0.39513898

Cboe Global Markets's gross margin of this year was 0.3921912. Cboe Global Markets's gross margin of last year was 0.39513898. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=77616.538/127094.682
=0.61069855

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=65648.785/136450.554
=0.48111776

Cboe Global Markets's asset turnover of this year was 0.61069855. Cboe Global Markets's asset turnover of last year was 0.48111776. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+1+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cboe Global Markets has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Cboe Global Markets  (MEX:CBOE) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Cboe Global Markets Piotroski F-Score Related Terms

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Cboe Global Markets Business Description

Traded in Other Exchanges
Address
433 West Van Buren Street, Chicago, IL, USA, 60607
Cboe Global Markets Inc is a provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The Company is committed to operating a trusted, inclusive world-wide marketplace, and to providing products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe, and Asia Pacific.