CBOE GLOBAL MARKETS INC (CBOE) Stock Fundamental Analysis
NYSEARCA:CBOE - NYSE Arca - US12503M1080 - Common Stock - Currency: USD
Taking everything into account, CBOE scores 6 out of 10 in our fundamental rating. CBOE was compared to 225 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. 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.
CBOE had a positive operating cash flow in the past year.
Each year in the past 5 years CBOE has been profitable.
Of the past 5 years CBOE 4 years had a positive operating cash flow.
1.2 Ratios
CBOE's Return On Assets of 8.91% is amongst the best of the industry. CBOE outperforms 84.47% of its industry peers.
CBOE has a better Return On Equity (18.44%) than 85.39% of its industry peers.
CBOE's Return On Invested Capital of 13.32% is amongst the best of the industry. CBOE outperforms 89.95% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CBOE is significantly above the industry average of 6.84%.
The 3 year average ROIC (12.78%) for CBOE is below the current ROIC(13.32%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.91% | ||
| ROE | 18.44% | ||
| ROIC | 13.32% |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.78%
ROIC(5y)11.7%
1.3 Margins
With a Profit Margin value of 19.62%, CBOE perfoms like the industry average, outperforming 55.71% of the companies in the same industry.
CBOE's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 29.72%, CBOE is in line with its industry, outperforming 51.14% of the companies in the same industry.
In the last couple of years the Operating Margin of CBOE has grown nicely.
CBOE has a better Gross Margin (51.75%) than 60.27% of its industry peers.
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 3Y7.11%
OM growth 5Y4.25%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
2. Health
2.1 Basic Checks
Compared to 1 year ago, CBOE has less shares outstanding
CBOE has less shares outstanding than it did 5 years ago.
The debt/assets ratio for CBOE has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 4.44 indicates that CBOE is not in any danger for bankruptcy at the moment.
CBOE has a better Altman-Z score (4.44) than 84.47% 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.
CBOE's Debt to FCF ratio of 0.92 is amongst the best of the industry. CBOE outperforms 88.58% of its industry peers.
CBOE has a Debt/Equity ratio of 0.34. This is a healthy value indicating a solid balance between debt and equity.
CBOE's Debt to Equity ratio of 0.34 is fine compared to the rest of the industry. CBOE outperforms 75.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.34 | ||
| Debt/FCF | 0.92 | ||
| Altman-Z | 4.44 |
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's Current ratio of 1.39 is in line compared to the rest of the industry. CBOE outperforms 58.90% of its industry peers.
CBOE has a Quick 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 Quick ratio (1.39) which is in line with its industry peers.
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
The Earnings Per Share has grown by an nice 10.51% over the past year.
Measured over the past years, CBOE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.71% on average per year.
The Revenue has grown by 8.51% in the past year. This is quite good.
CBOE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.40% yearly.
EPS 1Y (TTM)10.51%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%1.94%
Revenue 1Y (TTM)8.51%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%5.11%
3.2 Future
CBOE is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.57% yearly.
The Revenue is expected to grow by 4.35% on average over the next years.
EPS Next Y6.67%
EPS Next 2Y7.02%
EPS Next 3Y6.85%
EPS Next 5Y6.57%
Revenue Next Year5.2%
Revenue Next 2Y5.32%
Revenue Next 3Y4.99%
Revenue Next 5Y4.35%
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 decreasing.
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
The Price/Earnings ratio is 24.94, which indicates a rather expensive current 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 62.56% of the companies listed in the same industry.
CBOE's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 29.75.
Based on the Price/Forward Earnings ratio of 23.38, the valuation of CBOE can be described as rather expensive.
62.10% of the companies in the same industry are cheaper than CBOE, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.44. CBOE is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.94 | ||
| Fwd PE | 23.38 |
4.2 Price Multiples
76.26% of the companies in the same industry are more expensive than CBOE, based on the Enterprise Value to EBITDA ratio.
63.01% of the companies in the same industry are more expensive than CBOE, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 14.35 | ||
| EV/EBITDA | 17.24 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of CBOE may justify a higher PE ratio.
PEG (NY)3.74
PEG (5Y)1.96
EPS Next 2Y7.02%
EPS Next 3Y6.85%
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 8.69.
Compared to an average S&P500 Dividend Yield of 2.30, CBOE's dividend is way lower than the S&P500 average.
| 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 paid a dividend for at least 10 years, which is 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.
CBOE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP31.11%
EPS Next 2Y7.02%
EPS Next 3Y6.85%
214.96
+4.16 (+1.97%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners88.54%
Inst Owner Change0.56%
Ins Owners0.18%
Ins Owner Change1.32%
Market Cap22.50B
Analysts69.6
Price Target218.21 (1.51%)
Short Float %2.02%
Short Ratio2.68
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-Date
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)1.8%
PT rev (3m)-0.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.96%
EPS NY rev (1m)0.12%
EPS NY rev (3m)-1.58%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.6%
Revenue NY rev (1m)0.72%
Revenue NY rev (3m)-0.04%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.94 | ||
| Fwd PE | 23.38 | ||
| P/S | 5.69 | ||
| P/FCF | 14.35 | ||
| P/OCF | 13.87 | ||
| P/B | 5.35 | ||
| P/tB | N/A | ||
| EV/EBITDA | 17.24 |
EPS(TTM)8.62
EY4.01%
EPS(NY)9.2
Fwd EY4.28%
FCF(TTM)14.98
FCFY6.97%
OCF(TTM)15.49
OCFY7.21%
SpS37.78
BVpS40.2
TBVpS-3.96
PEG (NY)3.74
PEG (5Y)1.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.91% | ||
| ROE | 18.44% | ||
| ROCE | 18.6% | ||
| ROIC | 13.32% | ||
| ROICexc | 15.26% | ||
| ROICexgc | 93.94% | ||
| OM | 29.72% | ||
| PM (TTM) | 19.62% | ||
| GM | 51.75% | ||
| FCFM | 39.63% |
ROA(3y)7.74%
ROA(5y)7.63%
ROE(3y)14.52%
ROE(5y)14.42%
ROIC(3y)12.78%
ROIC(5y)11.7%
ROICexc(3y)14.52%
ROICexc(5y)13.03%
ROICexgc(3y)213.51%
ROICexgc(5y)199.88%
ROCE(3y)17.84%
ROCE(5y)16.33%
ROICexcg growth 3Y-3.77%
ROICexcg growth 5Y-11.61%
ROICexc growth 3Y12.23%
ROICexc growth 5Y11.28%
OM growth 3Y7.11%
OM growth 5Y4.25%
PM growth 3Y7.2%
PM growth 5Y4.48%
GM growth 3Y6.22%
GM growth 5Y2.13%
F-Score6
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 | 4.44 |
F-Score6
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10.51%
EPS 3Y12.46%
EPS 5Y12.71%
EPS Q2Q%1.94%
EPS Next Y6.67%
EPS Next 2Y7.02%
EPS Next 3Y6.85%
EPS Next 5Y6.57%
Revenue 1Y (TTM)8.51%
Revenue growth 3Y5.42%
Revenue growth 5Y10.4%
Sales Q2Q%5.11%
Revenue Next Year5.2%
Revenue Next 2Y5.32%
Revenue Next 3Y4.99%
Revenue Next 5Y4.35%
EBIT growth 1Y14.77%
EBIT growth 3Y12.92%
EBIT growth 5Y15.09%
EBIT Next Year11.74%
EBIT Next 3Y6.46%
EBIT Next 5Y6.21%
FCF growth 1Y47.11%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y44.69%
OCF growth 3YN/A
OCF growth 5YN/A