CBOE GLOBAL MARKETS INC (CBOE) Stock Fundamental Analysis
NYSEARCA:CBOE - American Stock Exchange - US12503M1080 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to CBOE. CBOE was compared to 222 industry peers in the Capital Markets industry. CBOE scores excellent points on both the profitability and health parts. This is a solid base for a good stock. CBOE is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year CBOE was profitable.
CBOE had a positive operating cash flow in the past year.
In the past 5 years CBOE has always been profitable.
CBOE had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
CBOE's Return On Assets of 8.91% is amongst the best of the industry. CBOE outperforms 84.79% of its industry peers.
Looking at the Return On Equity, with a value of 18.44%, CBOE belongs to the top of the industry, outperforming 85.25% of the companies in the same industry.
CBOE has a better Return On Invested Capital (11.81%) than 87.56% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CBOE is above the industry average of 6.67%.
The 3 year average ROIC (10.49%) for CBOE is below the current ROIC(11.81%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.91% | ||
| ROE | 18.44% | ||
| ROIC | 11.81% |
ROA(3y)7.07%
ROA(5y)7.13%
ROE(3y)13.46%
ROE(5y)13.09%
ROIC(3y)10.49%
ROIC(5y)9.56%
1.3 Margins
CBOE has a Profit Margin (19.62%) which is in line with its industry peers.
CBOE's Profit Margin has improved in the last couple of years.
CBOE has a Operating Margin (29.72%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of CBOE has grown nicely.
With a Gross Margin value of 51.75%, CBOE perfoms like the industry average, outperforming 53.46% of the companies in the same industry.
In the last couple of years the Gross Margin of CBOE has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.72% | ||
| PM (TTM) | 19.62% | ||
| GM | 51.75% |
OM growth 3Y11%
OM growth 5Y4.43%
PM growth 3Y13.78%
PM growth 5Y5.66%
GM growth 3Y11.57%
GM growth 5Y2.95%
2. Health
2.1 Basic Checks
Compared to 1 year ago, CBOE has less shares outstanding
Compared to 5 years ago, CBOE has less shares outstanding
Compared to 1 year ago, CBOE has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 4.34 indicates that CBOE is not in any danger for bankruptcy at the moment.
CBOE has a Altman-Z score of 4.34. This is amongst the best in the industry. CBOE outperforms 82.95% of its industry peers.
CBOE has a debt to FCF ratio of 0.92. This is a very positive value and a sign of high solvency as it would only need 0.92 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 0.92, CBOE belongs to the best of the industry, outperforming 88.48% of the companies in the same industry.
A Debt/Equity ratio of 0.34 indicates that CBOE is not too dependend on debt financing.
CBOE has a better Debt to Equity ratio (0.34) than 74.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.34 | ||
| Debt/FCF | 0.92 | ||
| Altman-Z | 4.34 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
CBOE has a Current Ratio of 1.39. This is a normal value and indicates that CBOE is financially healthy and should not expect problems in meeting its short term obligations.
CBOE has a Current ratio (1.39) which is in line with its industry peers.
A Quick Ratio of 1.39 indicates that CBOE should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.39, CBOE is in line with its industry, outperforming 59.45% of the companies in the same industry.
CBOE does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.39 | ||
| Quick Ratio | 1.39 |
3. Growth
3.1 Past
CBOE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.79%, which is quite good.
The Earnings Per Share has been growing by 9.17% on average over the past years. This is quite good.
Looking at the last year, CBOE shows a small growth in Revenue. The Revenue has grown by 3.84% in the last year.
Measured over the past years, CBOE shows a small growth in Revenue. The Revenue has been growing by 6.39% on average per year.
EPS 1Y (TTM)13.79%
EPS 3Y13.89%
EPS 5Y9.17%
EPS Q2Q%7.77%
Revenue 1Y (TTM)3.84%
Revenue growth 3Y3.26%
Revenue growth 5Y6.39%
Sales Q2Q%10.72%
3.2 Future
Based on estimates for the next years, CBOE will show a small growth in Earnings Per Share. The EPS will grow by 7.54% on average per year.
CBOE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.38% yearly.
EPS Next Y13.35%
EPS Next 2Y9.44%
EPS Next 3Y8.19%
EPS Next 5Y7.54%
Revenue Next Year7.41%
Revenue Next 2Y5.92%
Revenue Next 3Y5.47%
Revenue Next 5Y4.38%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 23.78 indicates a rather expensive valuation of CBOE.
63.59% of the companies in the same industry are cheaper than CBOE, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 28.28, CBOE is valued at the same level.
The Price/Forward Earnings ratio is 21.84, which indicates a rather expensive current valuation of CBOE.
Compared to the rest of the industry, the Price/Forward Earnings ratio of CBOE indicates a slightly more expensive valuation: CBOE is more expensive than 62.21% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 91.29, CBOE is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.78 | ||
| Fwd PE | 21.84 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CBOE indicates a somewhat cheap valuation: CBOE is cheaper than 74.19% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, CBOE is valued a bit cheaper than 62.21% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.62 | ||
| EV/EBITDA | 16.7 |
4.3 Compensation for Growth
CBOE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of CBOE may justify a higher PE ratio.
PEG (NY)1.78
PEG (5Y)2.59
EPS Next 2Y9.44%
EPS Next 3Y8.19%
5. Dividend
5.1 Amount
CBOE has a Yearly Dividend Yield of 1.28%.
CBOE's Dividend Yield is slightly below the industry average, which is at 9.43.
With a Dividend Yield of 1.28, CBOE pays less dividend than the S&P500 average, which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
5.2 History
On average, the dividend of CBOE grows each year by 12.72%, which is quite nice.
CBOE has been paying a dividend for at least 10 years, so it has a reliable track record.
CBOE has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.72%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
CBOE pays out 31.11% of its income as dividend. This is a sustainable payout ratio.
The dividend of CBOE is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP31.11%
EPS Next 2Y9.44%
EPS Next 3Y8.19%
CBOE GLOBAL MARKETS INC
NYSEARCA:CBOE (1/29/2025, 8:09:16 PM)
After market: 204.02 0 (0%)204.02
+0.39 (+0.19%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners86.45%
Inst Owner Change0.47%
Ins Owners0.19%
Ins Owner Change-0.87%
Market Cap21.36B
Analysts72.5
Price Target221.75 (8.69%)
Short Float %2.29%
Short Ratio2.43
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
Yearly Dividend2.11
Dividend Growth(5Y)12.72%
DP31.11%
Div Incr Years11
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.3%
Min EPS beat(2)-0.82%
Max EPS beat(2)0.22%
EPS beat(4)2
Avg EPS beat(4)0.47%
Min EPS beat(4)-0.82%
Max EPS beat(4)3.14%
EPS beat(8)4
Avg EPS beat(8)1.03%
EPS beat(12)7
Avg EPS beat(12)1.65%
EPS beat(16)8
Avg EPS beat(16)1.36%
Revenue beat(2)0
Avg Revenue beat(2)-1.91%
Min Revenue beat(2)-2.1%
Max Revenue beat(2)-1.73%
Revenue beat(4)0
Avg Revenue beat(4)-2.68%
Min Revenue beat(4)-4.39%
Max Revenue beat(4)-1.73%
Revenue beat(8)1
Avg Revenue beat(8)12.02%
Revenue beat(12)5
Avg Revenue beat(12)49.89%
Revenue beat(16)9
Avg Revenue beat(16)74.51%
PT rev (1m)1.05%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.98%
EPS NY rev (1m)0%
EPS NY rev (3m)0.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.81%
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-0.24%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.78 | ||
| Fwd PE | 21.84 | ||
| P/S | 5.4 | ||
| P/FCF | 13.62 | ||
| P/OCF | 13.17 | ||
| P/B | 5.08 | ||
| P/tB | N/A | ||
| EV/EBITDA | 16.7 |
EPS(TTM)8.58
EY4.21%
EPS(NY)9.34
Fwd EY4.58%
FCF(TTM)14.98
FCFY7.34%
OCF(TTM)15.49
OCFY7.59%
SpS37.78
BVpS40.2
TBVpS-3.96
PEG (NY)1.78
PEG (5Y)2.59
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.91% | ||
| ROE | 18.44% | ||
| ROCE | 18.6% | ||
| ROIC | 11.81% | ||
| ROICexc | 13.52% | ||
| ROICexgc | 83.26% | ||
| OM | 29.72% | ||
| PM (TTM) | 19.62% | ||
| GM | 51.75% | ||
| FCFM | 39.63% |
ROA(3y)7.07%
ROA(5y)7.13%
ROE(3y)13.46%
ROE(5y)13.09%
ROIC(3y)10.49%
ROIC(5y)9.56%
ROICexc(3y)11.51%
ROICexc(5y)10.39%
ROICexgc(3y)192.77%
ROICexgc(5y)192.02%
ROCE(3y)16.53%
ROCE(5y)15.06%
ROICexcg growth 3Y-26.02%
ROICexcg growth 5YN/A
ROICexc growth 3Y10.01%
ROICexc growth 5Y6.31%
OM growth 3Y11%
OM growth 5Y4.43%
PM growth 3Y13.78%
PM growth 5Y5.66%
GM growth 3Y11.57%
GM growth 5Y2.95%
F-Score7
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.34 | ||
| Debt/FCF | 0.92 | ||
| Debt/EBITDA | 1.1 | ||
| Cap/Depr | 39.02% | ||
| Cap/Sales | 1.37% | ||
| Interest Coverage | 13.31 | ||
| Cash Conversion | 123.39% | ||
| Profit Quality | 201.98% | ||
| Current Ratio | 1.39 | ||
| Quick Ratio | 1.39 | ||
| Altman-Z | 4.34 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)31.6%
Cap/Depr(5y)28.92%
Cap/Sales(3y)1.39%
Cap/Sales(5y)1.39%
Profit Quality(3y)164.05%
Profit Quality(5y)190.95%
High Growth Momentum
Growth
EPS 1Y (TTM)13.79%
EPS 3Y13.89%
EPS 5Y9.17%
EPS Q2Q%7.77%
EPS Next Y13.35%
EPS Next 2Y9.44%
EPS Next 3Y8.19%
EPS Next 5Y7.54%
Revenue 1Y (TTM)3.84%
Revenue growth 3Y3.26%
Revenue growth 5Y6.39%
Sales Q2Q%10.72%
Revenue Next Year7.41%
Revenue Next 2Y5.92%
Revenue Next 3Y5.47%
Revenue Next 5Y4.38%
EBIT growth 1Y14.77%
EBIT growth 3Y14.62%
EBIT growth 5Y11.1%
EBIT Next Year12.07%
EBIT Next 3Y8%
EBIT Next 5Y5.89%
FCF growth 1Y2513%
FCF growth 3Y-9.95%
FCF growth 5Y15.64%
OCF growth 1Y1428.75%
OCF growth 3Y-9.66%
OCF growth 5Y15%