CBOE GLOBAL MARKETS INC (CBOE) Stock Fundamental Analysis
NYSEARCA:CBOE - NYSE Arca - US12503M1080 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to CBOE. CBOE was compared to 233 industry peers in the Capital Markets industry. CBOE gets an excellent profitability rating and is at the same time showing great financial health properties. While showing a medium growth rate, CBOE is valued expensive at the moment. With these ratings, CBOE could be worth investigating further for quality investing!.
1. Profitability
1.1 Basic Checks
CBOE had positive earnings in the past year.
In the past year CBOE had a positive cash flow from operations.
Each year in the past 5 years CBOE has been profitable.
Each year in the past 5 years CBOE had a positive operating cash flow.
1.2 Ratios
CBOE's Return On Assets of 9.25% is amongst the best of the industry. CBOE outperforms 87.55% of its industry peers.
Looking at the Return On Equity, with a value of 18.02%, CBOE belongs to the top of the industry, outperforming 84.55% of the companies in the same industry.
CBOE has a Return On Invested Capital of 13.65%. This is amongst the best in the industry. CBOE outperforms 87.12% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CBOE is above the industry average of 7.84%.
The last Return On Invested Capital (13.65%) for CBOE is above the 3 year average (12.77%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.25% | ||
| ROE | 18.02% | ||
| ROIC | 13.65% |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.77%
ROIC(5y)11.7%
1.3 Margins
CBOE has a Profit Margin (18.51%) which is comparable to the rest of the industry.
CBOE's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 28.89%, CBOE is in line with its industry, outperforming 51.93% of the companies in the same industry.
CBOE's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 49.29%, CBOE perfoms like the industry average, outperforming 54.51% of the companies in the same industry.
CBOE's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.89% | ||
| PM (TTM) | 18.51% | ||
| GM | 49.29% |
OM growth 3Y7.05%
OM growth 5Y4.21%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
2. Health
2.1 Basic Checks
CBOE has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, CBOE has less shares outstanding
The debt/assets ratio for CBOE has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 5.09 indicates that CBOE is not in any danger for bankruptcy at the moment.
CBOE has a better Altman-Z score (5.09) than 84.98% of its industry peers.
CBOE has a debt to FCF ratio of 1.37. This is a very positive value and a sign of high solvency as it would only need 1.37 years to pay back of all of its debts.
CBOE has a better Debt to FCF ratio (1.37) than 86.27% of its industry peers.
A Debt/Equity ratio of 0.32 indicates that CBOE is not too dependend on debt financing.
CBOE has a better Debt to Equity ratio (0.32) than 74.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.32 | ||
| Debt/FCF | 1.37 | ||
| Altman-Z | 5.09 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
CBOE has a Current Ratio of 1.60. This is a normal value and indicates that CBOE is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.60, CBOE is in the better half of the industry, outperforming 65.24% of the companies in the same industry.
A Quick Ratio of 1.60 indicates that CBOE should not have too much problems paying its short term obligations.
CBOE's Quick ratio of 1.60 is fine compared to the rest of the industry. CBOE outperforms 65.24% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.6 | ||
| Quick Ratio | 1.6 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 11.43% over the past year.
CBOE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.71% yearly.
The Revenue has grown by 15.76% in the past year. This is quite good.
Measured over the past years, CBOE shows a quite strong growth in Revenue. The Revenue has been growing by 10.40% on average per year.
EPS 1Y (TTM)11.43%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%16.28%
Revenue 1Y (TTM)15.76%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%12.57%
3.2 Future
Based on estimates for the next years, CBOE will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.49% on average per year.
The Revenue is expected to grow by 5.02% on average over the next years.
EPS Next Y10.14%
EPS Next 2Y8.1%
EPS Next 3Y8.06%
EPS Next 5Y8.49%
Revenue Next Year8.7%
Revenue Next 2Y6.41%
Revenue Next 3Y5.78%
Revenue Next 5Y5.02%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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 25.86 indicates a quite expensive valuation of CBOE.
Compared to the rest of the industry, the Price/Earnings ratio of CBOE indicates a slightly more expensive valuation: CBOE is more expensive than 65.24% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.21. CBOE is around the same levels.
CBOE is valuated rather expensively with a Price/Forward Earnings ratio of 23.03.
Based on the Price/Forward Earnings ratio, CBOE is valued a bit more expensive than 60.94% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.70, CBOE is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.86 | ||
| Fwd PE | 23.03 |
4.2 Price Multiples
CBOE's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CBOE is cheaper than 75.97% of the companies in the same industry.
CBOE's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.14 | ||
| EV/EBITDA | 17.77 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
CBOE has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.55
PEG (5Y)2.04
EPS Next 2Y8.1%
EPS Next 3Y8.06%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.28%, CBOE has a reasonable but not impressive dividend return.
CBOE's Dividend Yield is slightly below the industry average, which is at 8.00.
Compared to an average S&P500 Dividend Yield of 2.42, CBOE's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
5.2 History
On average, the dividend of CBOE grows each year by 11.94%, which is quite nice.
CBOE has paid a dividend for at least 10 years, which is a reliable track record.
CBOE has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)11.94%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
32.08% of the earnings are spent on dividend by CBOE. This is a low number and sustainable payout ratio.
CBOE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.08%
EPS Next 2Y8.1%
EPS Next 3Y8.06%
232
-1.21 (-0.52%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners90.27%
Inst Owner Change3.5%
Ins Owners0.18%
Ins Owner Change1.16%
Market Cap24.29B
Analysts69.6
Price Target232.63 (0.27%)
Short Float %3.01%
Short Ratio3.73
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
Yearly Dividend2.37
Dividend Growth(5Y)11.94%
DP32.08%
Div Incr Years11
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.61%
Min EPS beat(2)-2.44%
Max EPS beat(2)3.67%
EPS beat(4)2
Avg EPS beat(4)0.16%
Min EPS beat(4)-2.44%
Max EPS beat(4)3.67%
EPS beat(8)4
Avg EPS beat(8)1.23%
EPS beat(12)6
Avg EPS beat(12)0.9%
EPS beat(16)8
Avg EPS beat(16)1.23%
Revenue beat(2)0
Avg Revenue beat(2)-1.63%
Min Revenue beat(2)-2.22%
Max Revenue beat(2)-1.05%
Revenue beat(4)0
Avg Revenue beat(4)-1.77%
Min Revenue beat(4)-2.22%
Max Revenue beat(4)-1.05%
Revenue beat(8)0
Avg Revenue beat(8)-2.28%
Revenue beat(12)3
Avg Revenue beat(12)28.7%
Revenue beat(16)7
Avg Revenue beat(16)52.42%
PT rev (1m)-1.36%
PT rev (3m)6.19%
EPS NQ rev (1m)0%
EPS NQ rev (3m)8.79%
EPS NY rev (1m)0%
EPS NY rev (3m)3.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)6.73%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.86 | ||
| Fwd PE | 23.03 | ||
| P/S | 5.61 | ||
| P/FCF | 23.14 | ||
| P/OCF | 21.73 | ||
| P/B | 5.46 | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.77 |
EPS(TTM)8.97
EY3.87%
EPS(NY)10.07
Fwd EY4.34%
FCF(TTM)10.02
FCFY4.32%
OCF(TTM)10.68
OCFY4.6%
SpS41.37
BVpS42.52
TBVpS-0.93
PEG (NY)2.55
PEG (5Y)2.04
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.25% | ||
| ROE | 18.02% | ||
| ROCE | 19.06% | ||
| ROIC | 13.65% | ||
| ROICexc | 16.54% | ||
| ROICexgc | 102.87% | ||
| OM | 28.89% | ||
| PM (TTM) | 18.51% | ||
| GM | 49.29% | ||
| FCFM | 24.23% |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.77%
ROIC(5y)11.7%
ROICexc(3y)14.51%
ROICexc(5y)13.03%
ROICexgc(3y)215.33%
ROICexgc(5y)200.97%
ROCE(3y)17.83%
ROCE(5y)16.33%
ROICexcg growth 3Y-2.02%
ROICexcg growth 5Y-10.65%
ROICexc growth 3Y12.17%
ROICexc growth 5Y11.24%
OM growth 3Y7.05%
OM growth 5Y4.21%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
F-Score7
Asset Turnover0.5
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.32 | ||
| Debt/FCF | 1.37 | ||
| Debt/EBITDA | 1.05 | ||
| Cap/Depr | 54.21% | ||
| Cap/Sales | 1.58% | ||
| Interest Coverage | 11.44 | ||
| Cash Conversion | 81.14% | ||
| Profit Quality | 130.86% | ||
| Current Ratio | 1.6 | ||
| Quick Ratio | 1.6 | ||
| Altman-Z | 5.09 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)36.71%
Cap/Depr(5y)34.1%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.41%
Profit Quality(3y)175.09%
Profit Quality(5y)186.2%
High Growth Momentum
Growth
EPS 1Y (TTM)11.43%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%16.28%
EPS Next Y10.14%
EPS Next 2Y8.1%
EPS Next 3Y8.06%
EPS Next 5Y8.49%
Revenue 1Y (TTM)15.76%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%12.57%
Revenue Next Year8.7%
Revenue Next 2Y6.41%
Revenue Next 3Y5.78%
Revenue Next 5Y5.02%
EBIT growth 1Y14.42%
EBIT growth 3Y12.85%
EBIT growth 5Y15.05%
EBIT Next Year18.08%
EBIT Next 3Y9.17%
EBIT Next 5Y6.67%
FCF growth 1Y190.99%
FCF growth 3Y23.96%
FCF growth 5Y11.71%
OCF growth 1Y164.84%
OCF growth 3Y22.63%
OCF growth 5Y11.71%