CBOECboe Global Markets, Inc.
Security & Commodity Brokers, Dealers, Exchanges & Services
- Revenue
- $4.7B
- 15% YoY
- Operating margin
- 31.1%
- 16% YoY
- EBITDA
- $1.6B
- 29% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -0.8×
- −$1.2B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear159% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear20% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear27% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.5B | $4.0B | $3.8B | $4.1B | $4.7B | 15% |
| Operating income | $806M | $490M | $1.1B | $1.1B | $1.5B | 34% |
| Net income | $529M | — | $761M | $765M | $1.1B | 44% |
| Operating cash flow | $597M | $651M | $1.1B | $1.1B | $1.8B | 59% |
| Capex | $51M | $60M | $45M | $61M | $71M | 17% |
| Stock-based comp | $27M | $31M | $41M | $42M | $50M | 21% |
| Buybacks | $81M | $101M | $84M | $205M | $67M | 67% |
| Dividends | $193M | $209M | $224M | $249M | $284M | 14% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.