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Cboe Global MarketsMEX:CBOE 86 Operating Margin % is 32.99% as of Jun. 2026, which is 37% above its 10-year median of 24.01. GuruFocus rates MEX:CBOE with a GF Score™ of 86/100 and a GF Value™ of MXN3,994.43 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 668 Capital Markets companies, Cboe Global Markets ranks better than 72.16% on this metric.
Cboe Global Markets (MEX:CBOE) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Cboe Global Markets Operating Margin % Related Terms
Cboe Global Markets Operating Margin % Historical Data
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The historical data trend for Cboe Global Markets's Operating Margin % 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.
MEX:CBOE vs MSCI, COIN, TRU: Operating Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Cboe Global Markets's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Cboe Global Markets's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Cboe Global Markets's Operating Margin % falls into.
Cboe Global Markets Operating Margin % Calculation
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Cboe Global Markets's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Cboe Global Markets (MEX:CBOE) has a Operating Margin % of 32.99% as of Jun. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Cboe Global Markets and its competitors. This is 37% above median its historical median of 24.01. Over the past decade, Cboe Global Markets' Operating Margin % has ranged from 20.47 to 44.35. According to the industry distribution chart, Cboe Global Markets ranks #186 out of 668 companies in the Capital Markets industry, placing it in the top 27.8%.
Is Cboe Global Markets' Operating Margin % too high?
Cboe Global Markets' current Operating Margin % of 32.99% is 37% above median its 10-year median of 24.01. Over the past 10 years, this metric has ranged from a low of 20.47 to a high of 44.35. The Capital Markets industry median Operating Margin % is 8.11. Cboe Global Markets' value of 32.99% is 307% above this industry median. Based on the distribution chart, Cboe Global Markets ranks #186 out of 668 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Cboe Global Markets has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cboe Global Markets' Operating Margin % compare to MSCI and COIN?
According to the Capital Markets industry distribution chart, Cboe Global Markets ranks #186 out of 668 companies for Operating Margin %. This puts Cboe Global Markets in the upper half of its industry. The industry median Operating Margin % is 8.11. Cboe Global Markets' value of 32.99% is 307% above this benchmark. Historically, Cboe Global Markets' own Operating Margin % has ranged from 20.47 to 44.35 over the past decade. While the company's 10-year median is 24.01 vs. the industry median of 8.11, Cboe Global Markets has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Capital Markets company?
The median Operating Margin % among Capital Markets companies is 8.11, based on 668 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cboe Global Markets's current Operating Margin % of 32.99% is 307% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Cboe Global Markets and its competitors. For the Capital Markets industry, the median Operating Margin % is 8.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cboe Global Markets's current Operating Margin % is 32.99%, which is 37% above median its own 10-year median of 24.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cboe Global Markets stock overvalued right now?
Based on GuruFocus' analysis, Cboe Global Markets (MEX:CBOE) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN3,994.43, compared to a current price of MXN4,970.00 — trading 24.4% above its estimated fair value. The current Operating Margin % is 32.99%, which is 37% above median its 10-year median of 24.01 and 307% above the Capital Markets industry median of 8.11. Cboe Global Markets' overall GF Score™ is 86/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Cboe Global Markets (MEX:CBOE), the current Operating Margin % is 32.99% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cboe Global Markets (MEX:CBOE) Overvalued in 2026?
Based on GuruFocus' analysis, Cboe Global Markets stock appears to be overvalued.
The current stock price of MXN4,970.00 is trading 24.4% above its estimated GF Value™ of MXN3,994.43.
GuruFocus considers Cboe Global Markets to be Modestly Overvalued.
Key valuation signals for MEX:CBOE:
Operating Margin %: 32.99% (37% above median its 10-year median of 24.01)
GF Value™: MXN3,994.43 vs. price of MXN4,970.00 (24.4% above fair value)
Industry Position: 307% above the Capital Markets median (#186 of 668)
No single metric tells the full story. See the MEX:CBOE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1973, Cboe controls the largest option exchange in the US, which provides around 60% of the firm's revenue. The company is best known for its proprietary S&P 500 and VIX index options, which it offers through an exclusive contract with S&P Global. The firm moved into US and European equities through the $3.4 billion acquisition of BATS in 2017. Cboe has continued to look to expand internationally, using acquisitions to build a presence in both Canada and Australia.
86GF Score
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