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CME Group Inc.

CME Financial Financial Data & Stock Exchanges

CME Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.5 billion, up 6.37% from fiscal 2024.

Revenue
+13.0%
EPS
+16.5%
Free cash flow
+12.7%
Total debt
+0.11%

Quarter to September 2026, against a year earlier

306.81 0.43 −0.14%
Market cap
$110.0B
P/E
25.0×
Fwd P/E
25.4×
Dividend yield
1.25%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

CME Group Inc. (CME) valuation and DCF model

What the price implies · reverse DCF

At $306.81 the price implies 9.7% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 10.6% a year over the last ten years, 13.2% over the last five. The price asks for close to its ten-year rate. Return on equity averaged 11.0% over ten years; the price implies 29.4% for good.

In December 2017 the price assumed 8.7% a year; CME Group Inc. went on to grow the dividend a share 12.4% a year to FY2025.

Price implies
9.7%
Last 5 years, reported
13.2%
Last 10 years, reported
10.6%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
9.7% a year for ten years
$306.81
today’s price
Its base case
10.6% a year for five years, then 6.4%
$286.10
6.7% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record CME Group Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 9.7% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against CME Group Inc.’s own cost of capital: risk-free 4.3% + beta 0.16 × equity premium 4.5% = 5.0% cost of equity; weighted, 5.0%.

Use 5.0%
Base case value per share $286.10 ten years discounted, and what follows
Current price $306.81 market price per share
Below today’s price 6.7% downside at the base case’s assumptions

How we got there$115.89 10 years of dividends+$170.21 terminal value=$286.10 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Financial Data & Stock Exchanges).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 24.97× 23.95× 26.07× 4% below 24.85× 0% above
P/FCF 25.36× 22.93× 26.25× 3% below 20.23× 25% above
P/B 4.14× 3.15× 2.86× 44% above 4.56× 9% below
EV/EBITDA — 21.15× 21.04× — 3.38× —
EV/Sales — 14.32× 14.03× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
14.17×20.29×26.42×32.54×10Y avg 26.07×2017201820192020202120222023202420252026

CME trades at 24.97× P/E, against a 10-year average of 26.07× (range 12.08×–33.91×). That is dearer than 56% of the last 9 year-end readings; re-rating to the average implies $320.24 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.