CBOE GLOBAL MARKETS INC (CBOE)
US12503M1080 - Common Stock
CBOE gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 220 industry peers in the Capital Markets industry. CBOE gets an excellent profitability rating and is at the same time showing great financial health properties. CBOE is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year CBOE was profitable.
In the past year CBOE had a positive cash flow from operations.
Each year in the past 5 years CBOE has been profitable.
In the past 5 years CBOE always reported a positive cash flow from operatings.
1.2 Ratios
CBOE has a Return On Assets of 8.27%. This is amongst the best in the industry. CBOE outperforms 83.41% of its industry peers.
CBOE has a Return On Equity of 19.04%. This is amongst the best in the industry. CBOE outperforms 84.79% of its industry peers.
Looking at the Return On Invested Capital, with a value of 11.87%, CBOE belongs to the top of the industry, outperforming 86.64% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for CBOE is above the industry average of 6.99%.
The 3 year average ROIC (10.49%) for CBOE is below the current ROIC(11.87%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.27% | ||
| ROE | 19.04% | ||
| ROIC | 11.87% |
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 (20.11%) which is comparable to the rest of the industry.
CBOE's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 29.94%, CBOE perfoms like the industry average, outperforming 51.61% of the companies in the same industry.
In the last couple of years the Operating Margin of CBOE has grown nicely.
With a Gross Margin value of 52.39%, CBOE perfoms like the industry average, outperforming 54.38% 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 | 29.94% | ||
| PM (TTM) | 20.11% | ||
| GM | 52.39% |
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
CBOE has a better debt/assets ratio than last year.
2.2 Solvency
CBOE has an Altman-Z score of 3.66. This indicates that CBOE is financially healthy and has little risk of bankruptcy at the moment.
CBOE's Altman-Z score of 3.66 is amongst the best of the industry. CBOE outperforms 82.49% of its industry peers.
The Debt to FCF ratio of CBOE is 0.50, which is an excellent value as it means it would take CBOE, only 0.50 years of fcf income to pay off all of its debts.
CBOE has a Debt to FCF ratio of 0.50. This is amongst the best in the industry. CBOE outperforms 89.40% of its industry peers.
A Debt/Equity ratio of 0.36 indicates that CBOE is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.36, CBOE is in the better half of the industry, outperforming 75.12% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.36 | ||
| Debt/FCF | 0.5 | ||
| Altman-Z | 3.66 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
CBOE has a Current Ratio of 1.23. This is a normal value and indicates that CBOE is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.23, CBOE perfoms like the industry average, outperforming 56.22% of the companies in the same industry.
A Quick Ratio of 1.23 indicates that CBOE should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.23, CBOE perfoms like the industry average, outperforming 56.22% 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 | 1.23 | ||
| Quick Ratio | 1.23 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 13.79% over the past year.
The Earnings Per Share has been growing by 9.17% on average over the past years. This is quite good.
The Revenue has decreased by -4.67% in the past year.
CBOE shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.39% yearly.
EPS 1Y (TTM)13.79%
EPS 3Y13.89%
EPS 5Y9.17%
EPS Q2Q%7.77%
Revenue 1Y (TTM)-4.67%
Revenue growth 3Y3.26%
Revenue growth 5Y6.39%
Sales Q2Q%10.72%
3.2 Future
The Earnings Per Share is expected to grow by 7.54% on average over the next years.
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 Year7.82%
Revenue Next 2Y6.33%
Revenue Next 3Y5.62%
Revenue Next 5Y4.38%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 22.66 indicates a rather 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 63.13% of the companies listed in the same industry.
CBOE is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.54, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 20.81 indicates a rather expensive valuation of CBOE.
Based on the Price/Forward Earnings ratio, CBOE is valued a bit more expensive than 61.75% of the companies in the same industry.
CBOE is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.99, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.66 | ||
| Fwd PE | 20.81 |
4.2 Price Multiples
74.19% of the companies in the same industry are more expensive than CBOE, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CBOE indicates a somewhat cheap valuation: CBOE is cheaper than 76.96% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.05 | ||
| EV/EBITDA | 16.34 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CBOE has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.7
PEG (5Y)2.47
EPS Next 2Y9.44%
EPS Next 3Y8.19%
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 9.57.
With a Dividend Yield of 1.28, CBOE pays less dividend than the S&P500 average, which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
5.2 History
The dividend of CBOE is nicely growing with an annual growth rate of 12.72%!
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
30.51% of the earnings are spent on dividend by CBOE. This is a low number and sustainable payout ratio.
The dividend of CBOE is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP30.51%
EPS Next 2Y9.44%
EPS Next 3Y8.19%
CBOE GLOBAL MARKETS INC
NYSEARCA:CBOE (12/24/2024, 8:00:39 PM)
After market: 194.2 -0.21 (-0.11%)194.41
+1.31 (+0.68%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners86.45%
Inst Owner Change2.44%
Ins Owners0.19%
Ins Owner Change-1.21%
Market Cap20.35B
Analysts72.5
Price Target219.44 (12.87%)
Short Float %3.04%
Short Ratio3.23
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.28% |
Dividend Growth(5Y)12.72%
DP30.51%
Div Incr Years11
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.68%
Min EPS beat(2)0.22%
Max EPS beat(2)3.14%
EPS beat(4)3
Avg EPS beat(4)2.77%
Min EPS beat(4)-0.68%
Max EPS beat(4)8.41%
EPS beat(8)5
Avg EPS beat(8)1.69%
EPS beat(12)7
Avg EPS beat(12)1.64%
EPS beat(16)9
Avg EPS beat(16)1.56%
Revenue beat(2)0
Avg Revenue beat(2)-2.29%
Min Revenue beat(2)-2.48%
Max Revenue beat(2)-2.1%
Revenue beat(4)0
Avg Revenue beat(4)-2.7%
Min Revenue beat(4)-4.39%
Max Revenue beat(4)-1.84%
Revenue beat(8)2
Avg Revenue beat(8)27.65%
Revenue beat(12)6
Avg Revenue beat(12)59.82%
Revenue beat(16)10
Avg Revenue beat(16)85.38%
PT rev (1m)-1.04%
PT rev (3m)6.68%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.67%
EPS NY rev (1m)0%
EPS NY rev (3m)0.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.02%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.66 | ||
| Fwd PE | 20.81 | ||
| P/S | 5.34 | ||
| P/FCF | 7.05 | ||
| P/OCF | 6.93 | ||
| P/B | 5.06 | ||
| P/tB | N/A | ||
| EV/EBITDA | 16.34 |
EPS(TTM)8.58
EY4.41%
EPS(NY)9.34
Fwd EY4.81%
FCF(TTM)27.58
FCFY14.19%
OCF(TTM)28.06
OCFY14.43%
SpS36.38
BVpS38.42
TBVpS-5.48
PEG (NY)1.7
PEG (5Y)2.47
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.27% | ||
| ROE | 19.04% | ||
| ROCE | 18.7% | ||
| ROIC | 11.87% | ||
| ROICexc | 13.41% | ||
| ROICexgc | 90.19% | ||
| OM | 29.94% | ||
| PM (TTM) | 20.11% | ||
| GM | 52.39% | ||
| FCFM | 75.81% |
ROA(3y)7.07%
ROA(5y)7.13%
ROE(3y)13.46%
ROE(5y)13.09%
ROIC(3y)10.49%
ROIC(5y)9.56%
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 Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.36 | ||
| Debt/FCF | 0.5 | ||
| Debt/EBITDA | 1.12 | ||
| Cap/Depr | 34.2% | ||
| Cap/Sales | 1.31% | ||
| Interest Coverage | 14.13 | ||
| Cash Conversion | 228.4% | ||
| Profit Quality | 377.01% | ||
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.23 | ||
| Altman-Z | 3.66 |
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)-4.67%
Revenue growth 3Y3.26%
Revenue growth 5Y6.39%
Sales Q2Q%10.72%
Revenue Next Year7.82%
Revenue Next 2Y6.33%
Revenue Next 3Y5.62%
Revenue Next 5Y4.38%
EBIT growth 1Y15%
EBIT growth 3Y14.62%
EBIT growth 5Y11.1%
EBIT Next Year12.07%
EBIT Next 3Y8%
EBIT Next 5Y5.89%
FCF growth 1Y543.81%
FCF growth 3Y-9.95%
FCF growth 5Y15.64%
OCF growth 1Y487.01%
OCF growth 3Y-9.66%
OCF growth 5Y15%