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Cboe Global MarketsLTS:0HQN +1.22%92 Pretax Margin % is 34.29% as of Jun. 2026, which is 62% above its 10-year median of 21.14. GuruFocus rates LTS:0HQN with a GF Score™ of 92/100 and a GF Value™ of $237.99 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 776 Capital Markets companies, Cboe Global Markets ranks better than 65.59% on this metric.
Cboe Global Markets (LTS:0HQN) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Cboe Global Markets Pretax Margin % Related Terms
Cboe Global Markets Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Cboe Global Markets's Pretax 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.
LTS:0HQN vs MSCI, COIN, TRU: Pretax Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Cboe Global Markets's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Cboe Global Markets's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Cboe Global Markets's Pretax Margin % falls into.
* 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 (LTS:0HQN) has a Pretax Margin % of 34.29% as of Jun. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Cboe Global Markets and its competitors. This is 62% above median its historical median of 21.14. Over the past decade, Cboe Global Markets' Pretax Margin % has ranged from 10.94 to 43.61. According to the industry distribution chart, Cboe Global Markets ranks #267 out of 776 companies in the Capital Markets industry, placing it in the top 34.4%.
Is Cboe Global Markets' Pretax Margin % too high?
Cboe Global Markets' current Pretax Margin % of 34.29% is 62% above median its 10-year median of 21.14. Over the past 10 years, this metric has ranged from a low of 10.94 to a high of 43.61. The Capital Markets industry median Pretax Margin % is 21.06. Cboe Global Markets' value of 34.29% is 62.9% above this industry median. Based on the distribution chart, Cboe Global Markets ranks #267 out of 776 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Cboe Global Markets has a GF Score™ of 92/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cboe Global Markets' Pretax Margin % compare to MSCI and COIN?
According to the Capital Markets industry distribution chart, Cboe Global Markets ranks #267 out of 776 companies for Pretax Margin %. This puts Cboe Global Markets in the upper half of its industry. The industry median Pretax Margin % is 21.06. Cboe Global Markets' value of 34.29% is 62.9% above this benchmark. Historically, Cboe Global Markets' own Pretax Margin % has ranged from 10.94 to 43.61 over the past decade. While the company's 10-year median is 21.14 vs. the industry median of 21.06, 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 Pretax Margin % for a Capital Markets company?
The median Pretax Margin % among Capital Markets companies is 21.06, based on 776 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cboe Global Markets's current Pretax Margin % of 34.29% is 62.9% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Cboe Global Markets and its competitors. For the Capital Markets industry, the median Pretax Margin % is 21.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cboe Global Markets's current Pretax Margin % is 34.29%, which is 62% above median its own 10-year median of 21.14. 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 (LTS:0HQN) is currently considered Modestly Overvalued. The stock's GF Value™ is $237.99, compared to a current price of $296.11 — trading 24.4% above its estimated fair value. The current Pretax Margin % is 34.29%, which is 62% above median its 10-year median of 21.14 and 62.9% above the Capital Markets industry median of 21.06. Cboe Global Markets' overall GF Score™ is 92/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Cboe Global Markets (LTS:0HQN), the current Pretax Margin % is 34.29% 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 (LTS:0HQN) Overvalued in 2026?
Based on GuruFocus' analysis, Cboe Global Markets stock appears to be overvalued.
The current stock price of $296.11 is trading 24.4% above its estimated GF Value™ of $237.99.
GuruFocus considers Cboe Global Markets to be Modestly Overvalued.
Key valuation signals for LTS:0HQN:
Pretax Margin %: 34.29% (62% above median its 10-year median of 21.14)
GF Value™: $237.99 vs. price of $296.11 (24.4% above fair value)
Industry Position: 62.9% above the Capital Markets median (#267 of 776)
No single metric tells the full story. See the LTS:0HQN 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.
92GF Score
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