Cboe Global Markets $CBOE Read from its own SEC filings · nothing written, nothing inferred
🫧 Edgar looked up Cboe Global Markets, Inc. ($CBOE). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-09-29. 9 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $4.7B (FY2025), total debt $1.4B. Experience: revenue up 15.1% on the year, up 7.8% a year over 4 years; operating margin 31.1%, up from 26.8%. Soundness: equity 55.2% of assets, return on equity 21.4%, payout 25.8% of profit, dividend per share up 11 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $4.5B and $5.8B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $4.1B to $6.3B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, security & commodity brokers, dealers, exchanges & services): growth 15.1% against 15.3%.
Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.
Speed and cash · fiscal 2025
Both views must agree for a label · a description, not advice.
| Cash flow (op · inv · fin · free) | $1.8B · $450M · −$372M · $1.7B |
| Investment book (cash · short · long) | $2.2B · $36M · — · current ratio 1.87 |
| Revenue swing · equity of assets | 8.6% · 55.2% |
Cboe Global Markets is growing faster than its size class, with steadier revenue. Its own audited SEC figures.
The figures, as filed
| Fiscal year end | 2025-12-31 |
| Revenue | $4.7B |
| Revenue, on the year | 15.1% |
| Revenue, a year over the record | 7.8% |
| Operating margin | 31.1% |
| Operating margin, prior year | 26.8% |
| Net margin | 23.3% |
| Research and development | not filed separately |
| Total debt | $1.4B |
| Equity of assets | 55.2% |
| Return on equity | 21.4% |
| Payout of profit | 25.8% |
| Dividend per share | $2.7 · up 11 years running |
| Earnings per share | $10.46 |
| Book value per share | $48.89 |
| Revenue per share | $44.85 |
| Shares outstanding | 105,100,000 |
| Audited years read | 5 |
Peers: the median of 8 filers with $50M+ revenue in security & commodity brokers, dealers, exchanges & services.
Health HarborCboe Global Markets sails as: Sound ship
Health watch · 12 monthsRestructuring or exit costsDirector or officer change
Sailing speed follows growth: 6.0% a year crosses the harbor in 62 seconds.
🌊 Visit the Bay →- filed restructuring or exit costs in the last 12 months
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
- 8-K · 2026-09-29 · 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits
- 10-Q · 2026-07-31
- 8-K · 2026-07-31 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits
- 8-K · 2026-07-28 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits
- 8-K · 2026-06-26 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits
- 8-K · 2026-05-18 · 5.07 Submission of Matters to a Vote of Security Holders
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company