CME GroupCME +2.42%86 ROC (Joel Greenblatt) % is 720.18% as of Mar. 2026, which is 7% above its 10-year median of 672.47. GuruFocus rates CME with a GF Score™ of 86/100 and a GF Value™ of $271.25 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 678 Capital Markets companies, CME Group ranks better than 87.17% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. CME Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 720.18%.
The historical rank and industry rank for CME Group's ROC (Joel Greenblatt) % or its related term are showing as below:
CME'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 514.3 Med: 672.47 Max: 1181.93
Current: 638.19
During the past 13 years, CME Group's highest ROC (Joel Greenblatt) % was 1181.93%. The lowest was 514.30%. And the median was 672.47%.
CME's ROC (Joel Greenblatt) % is ranked better than 87.17% of 678
companies
in the Capital Markets industry
Industry Median: 34.64
vs CME: 638.19
CME Group's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 14.30% per year.
CME Group (NAS:CME) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
The historical data trend for CME Group's ROC (Joel Greenblatt) % 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.
CME vs MCO, ICE, NDAQ: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, CME Group's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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.
CME Group ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, CME Group's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CME Group's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 720.18% mean?
CME Group (CME) has a ROC (Joel Greenblatt) % of 720.18% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on CME Group and its competitors. This is near median its historical median of 672.47. Over the past decade, CME Group's ROC (Joel Greenblatt) % has ranged from 514.30 to 1,181.93. According to the industry distribution chart, CME Group ranks #87 out of 678 companies in the Capital Markets industry, placing it in the top 12.8%.
Is CME Group's ROC (Joel Greenblatt) % too high?
CME Group's current ROC (Joel Greenblatt) % of 720.18% is near median its 10-year median of 672.47. Over the past 10 years, this metric has ranged from a low of 514.30 to a high of 1,181.93. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.64. CME Group's value of 720.18% is 1979% above this industry median. Based on the distribution chart, CME Group ranks #87 out of 678 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, CME Group has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CME Group's ROC (Joel Greenblatt) % compare to MCO and ICE?
According to the Capital Markets industry distribution chart, CME Group ranks #87 out of 678 companies for ROC (Joel Greenblatt) %. This places CME Group in the top 13% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.64. CME Group's value of 720.18% is 1979% above this benchmark. Historically, CME Group's own ROC (Joel Greenblatt) % has ranged from 514.30 to 1,181.93 over the past decade. While the company's 10-year median is 672.47 vs. the industry median of 34.64, CME Group 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 ROC (Joel Greenblatt) % for a Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.64, based on 678 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CME Group's current ROC (Joel Greenblatt) % of 720.18% is 1979% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on CME Group and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CME Group's current ROC (Joel Greenblatt) % is 720.18%, which is near median its own 10-year median of 672.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CME Group stock overvalued right now?
Based on GuruFocus' analysis, CME Group (CME) is currently considered Modestly Undervalued. The stock's GF Value™ is $271.25, compared to a current price of $236.60 — trading 12.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is 720.18%, which is near median its 10-year median of 672.47 and 1979% above the Capital Markets industry median of 34.64. CME Group's overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For CME Group (CME), the current ROC (Joel Greenblatt) % is 720.18% as of Mar. 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 CME Group (CME) Overvalued in 2026?
Based on GuruFocus' analysis, CME Group stock appears to be undervalued.
The current stock price of $236.60 is trading 12.8% below its estimated GF Value™ of $271.25.
GuruFocus considers CME Group to be Modestly Undervalued.
Key valuation signals for CME:
ROC (Joel Greenblatt) %: 720.18% (near median its 10-year median of 672.47)
GF Value™: $271.25 vs. price of $236.60 (12.8% below fair value)
Industry Position: 1979% above the Capital Markets median (#87 of 678)
No single metric tells the full story. See the CME stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The Chicago Mercantile Exchange was founded in 1898 and in 2002 completed its IPO. Since then, CME Group has consolidated parts of the industry by merging with crosstown rival CBOT Holdings in 2007 before acquiring Nymex Holdings in 2008 and NEX in 2018. In addition, the company has a 27% stake in S&P Dow Jones Indexes, making the Chicago Mercantile Exchange the exclusive venue to trade and clear S&P futures contracts. Through CME's acquisition of NEX, it also expanded into cash foreign exchange, fixed-income trading, and collateral optimization.
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