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Cboe Global Markets

CBOE Clue Score75
United States Fiscal year ends December CIK 0001374310
$304.16 +3.43% Close, 9 Oct 2026
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Price $304.16 +143.04% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue703.1Operating income298.2Net income186.8EPS, diluted2.27Fiscal year 2017Revenue2,229.1 +217.0%Operating income371.9Net income401.7 +115.0%EPS, diluted3.69 +62.6%Fiscal year 2018Revenue2,768.8 +24.2%Operating income599.4Net income426.5 +6.2%EPS, diluted3.76 +1.9%Fiscal year 2019Revenue2,496.1 −9.8%Operating income537.2Net income374.9 −12.1%EPS, diluted3.34 −11.2%Fiscal year 2020Revenue3,427.1 +37.3%Operating income662.2Net income468.2 +24.9%EPS, diluted4.27 +27.8%Fiscal year 2021Revenue3,494.8 +2.0%Operating income805.9Net income529.0 +13.0%EPS, diluted4.92 +15.2%Fiscal year 2022Revenue3,958.5 +13.3%Operating income489.6Net income235.0 −55.6%EPS, diluted2.19 −55.5%Fiscal year 2023Revenue3,773.5 −4.7%Operating income1,057.9Net income761.4 +224.0%EPS, diluted7.13 +225.6%Fiscal year 2024Revenue4,094.5 +8.5%Operating income1,098.4Net income764.9 +0.5%EPS, diluted7.21 +1.1%Fiscal year 2025Revenue4,714.2 +15.1%Operating income1,467.1Net income1,100.0 +43.8%EPS, diluted10.42 +44.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 703.1 2,229.1 2,768.8 2,496.1 3,427.1 3,494.8 3,958.5 3,773.5 4,094.5 4,714.2
Growth +217.0% +24.2% −9.8% +37.3% +2.0% +13.3% −4.7% +8.5% +15.1%
Operating income 298.2 371.9 599.4 537.2 662.2 805.9 489.6 1,057.9 1,098.4 1,467.1
Net income 186.8 401.7 426.5 374.9 468.2 529.0 235.0 761.4 764.9 1,100.0
Growth +115.0% +6.2% −12.1% +24.9% +13.0% −55.6% +224.0% +0.5% +43.8%
EPS, diluted 2.27 3.69 3.76 3.34 4.27 4.92 2.19 7.13 7.21 10.42
Growth +62.6% +1.9% −11.2% +27.8% +15.2% −55.5% +225.6% +1.1% +44.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin80.6%Operating margin42.4%Net margin26.6%Free cash flow margin26.3%Fiscal year 2017Gross margin44.7%Operating margin16.7%Net margin18.0%Free cash flow margin15.1%Fiscal year 2018Gross margin44.0%Operating margin21.6%Net margin15.4%Free cash flow margin18.0%Fiscal year 2019Gross margin45.5%Operating margin21.5%Net margin15.0%Free cash flow margin23.9%Fiscal year 2020Gross margin36.6%Operating margin19.3%Net margin13.7%Free cash flow margin41.2%Fiscal year 2021Gross margin42.2%Operating margin23.1%Net margin15.1%Free cash flow margin15.6%Fiscal year 2022Gross margin44.0%Operating margin12.4%Net margin5.9%Free cash flow margin14.9%Fiscal year 2023Gross margin50.8%Operating margin28.0%Net margin20.2%Free cash flow margin27.3%Fiscal year 2024Gross margin50.6%Operating margin26.8%Net margin18.7%Free cash flow margin25.4%Fiscal year 2025Gross margin51.5%Operating margin31.1%Net margin23.3%Free cash flow margin35.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 80.6% 44.7% 44.0% 45.5% 36.6% 42.2% 44.0% 50.8% 50.6% 51.5%
Operating margin 42.4% 16.7% 21.6% 21.5% 19.3% 23.1% 12.4% 28.0% 26.8% 31.1%
Net margin 26.6% 18.0% 15.4% 15.0% 13.7% 15.1% 5.9% 20.2% 18.7% 23.3%
Free cash flow margin 26.3% 15.1% 18.0% 23.9% 41.2% 15.6% 14.9% 27.3% 25.4% 35.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow229.6Capital expenditure−44.4Free cash flow185.2Buybacks−60.5Dividends paid−78.5Fiscal year 2017Operating cash flow374.4Capital expenditure−37.5Free cash flow336.9 +81.9%Dividends paid−118.1Fiscal year 2018Operating cash flow534.7Capital expenditure−36.3Free cash flow498.4 +47.9%Buybacks−140.9Dividends paid−130.3Fiscal year 2019Operating cash flow632.8Capital expenditure−35.1Free cash flow597.7 +19.9%Buybacks−156.9Dividends paid−150.0Fiscal year 2020Operating cash flow1,458.8Capital expenditure−47.4Free cash flow1,411.4 +136.1%Buybacks−349.1Dividends paid−170.6Fiscal year 2021Operating cash flow596.8Capital expenditure−51.0Free cash flow545.8 −61.3%Buybacks−81.3Dividends paid−193.3Fiscal year 2022Operating cash flow651.1Capital expenditure−59.8Free cash flow591.3 +8.3%Buybacks−100.9Dividends paid−209.4Fiscal year 2023Operating cash flow1,075.6Capital expenditure−45.0Free cash flow1,030.6 +74.3%Buybacks−83.9Dividends paid−223.5Fiscal year 2024Operating cash flow1,100.6Capital expenditure−60.9Free cash flow1,039.7 +0.9%Buybacks−204.8Dividends paid−249.4Fiscal year 2025Operating cash flow1,752.6Capital expenditure−71.0Free cash flow1,681.6 +61.7%Buybacks−66.7Dividends paid−284.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 229.6 374.4 534.7 632.8 1,458.8 596.8 651.1 1,075.6 1,100.6 1,752.6
Capital expenditure −44.4 −37.5 −36.3 −35.1 −47.4 −51.0 −59.8 −45.0 −60.9 −71.0
Free cash flow 185.2 336.9 498.4 597.7 1,411.4 545.8 591.3 1,030.6 1,039.7 1,681.6
Growth +81.9% +47.9% +19.9% +136.1% −61.3% +8.3% +74.3% +0.9% +61.7%
Buybacks −60.5 n/a −140.9 −156.9 −349.1 −81.3 −100.9 −83.9 −204.8 −66.7
Dividends paid −78.5 −118.1 −130.3 −150.0 −170.6 −193.3 −209.4 −223.5 −249.4 −284.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash97.3Total debt0.0Net cash (debt)97.3Shareholders’ equity317.9Debt to equity0.00Fiscal year 2017Cash143.5Total debt1,237.9Net cash (debt)−1,094.4Shareholders’ equity3,110.6Debt to equity0.40Fiscal year 2018Cash275.1Total debt1,215.4Net cash (debt)−940.3Shareholders’ equity3,241.0Debt to equity0.38Fiscal year 2019Cash229.3Total debt867.6Net cash (debt)−638.3Shareholders’ equity3,355.6Debt to equity0.26Fiscal year 2020Cash245.4Total debt1,203.9Net cash (debt)−958.5Shareholders’ equity3,348.9Debt to equity0.36Fiscal year 2021Cash341.9Total debt1,299.3Net cash (debt)−957.4Shareholders’ equity3,604.8Debt to equity0.36Fiscal year 2022Cash432.7Total debt1,742.0Net cash (debt)−1,309.3Shareholders’ equity3,465.3Debt to equity0.50Fiscal year 2023Cash543.2Total debt1,439.2Net cash (debt)−896.0Shareholders’ equity3,985.0Debt to equity0.36Fiscal year 2024Cash920.3Total debt1,441.0Net cash (debt)−520.7Shareholders’ equity4,279.6Debt to equity0.34Fiscal year 2025Cash2,216.5Total debt1,442.9Net cash (debt)773.6Shareholders’ equity5,138.3Debt to equity0.28
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 97.3 143.5 275.1 229.3 245.4 341.9 432.7 543.2 920.3 2,216.5
Total debt 0.0 1,237.9 1,215.4 867.6 1,203.9 1,299.3 1,742.0 1,439.2 1,441.0 1,442.9
Net cash (debt) 97.3 −1,094.4 −940.3 −638.3 −958.5 −957.4 −1,309.3 −896.0 −520.7 773.6
Shareholders’ equity 317.9 3,110.6 3,241.0 3,355.6 3,348.9 3,604.8 3,465.3 3,985.0 4,279.6 5,138.3
Debt to equity 0.00 0.40 0.38 0.26 0.36 0.36 0.50 0.36 0.34 0.28

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
80.6% 44.7% 44.0% 45.5% 36.6% 42.2% 44.0% 50.8% 50.6% 51.5%
42.4% 16.7% 21.6% 21.5% 19.3% 23.1% 12.4% 28.0% 26.8% 31.1%
43.6% 15.0% 20.6% 20.1% 19.3% 21.6% 10.9% 27.8% 26.5% 33.2%
26.6% 18.0% 15.4% 15.0% 13.7% 15.1% 5.9% 20.2% 18.7% 23.3%
26.3% 15.1% 18.0% 23.9% 41.2% 15.6% 14.9% 27.3% 25.4% 35.7%
Spending
6.3% 1.7% 1.3% 1.4% 1.4% 1.5% 1.5% 1.2% 1.5% 1.5%
39.4% −19.8% 25.6% 26.0% 29.1% 30.0% 45.7% 27.3% 29.4% 29.8%
Returns
58.8% 12.9% 13.2% 11.2% 14.0% 14.7% 6.8% 19.1% 17.9% 21.4%
39.2% 7.6% 8.0% 7.3% 7.2% 7.8% 3.4% 10.2% 9.8% 11.8%
Balance and payout
0.00 0.40 0.38 0.26 0.36 0.36 0.50 0.36 0.34 0.28
30.6% n/a 38.9% 34.4% 48.6% 47.1% 50.5% 46.8% 45.1% 44.8%
42.0% 29.4% 30.6% 40.0% 36.4% 36.5% 89.1% 29.4% 32.6% 25.8%
75.1% 35.1% 54.4% 51.3% 36.8% 50.3% 52.5% 29.8% 43.7% 20.9%