Cboe Global Markets, Inc. (CBOE) vs CME Group Inc. (CME)

Cboe Global Markets, Inc. and CME Group Inc. are both Financial Data & Stock Exchanges companies. CME Group Inc. is the larger, with a market value of $96.5B against $27.9B — 3.5× the size. Cboe Global Markets, Inc. trades at the lower P/E: 20.0× against 22.3×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 11.7% against 5.10%. CME Group Inc. has the higher net margin (63.1% vs 26.6%) and the lower return on invested capital (9.96% vs 23.5%). Both pay a dividend; CME Group Inc. yields more (4.58% vs 1.27%). Across the 23 metrics below, Cboe Global Markets, Inc. leads on 16 and CME Group Inc. on 7.

Valuation

Metric CBOE CME Financial Data & Stock Exchanges median
P/E 20.05 22.28 21.77
P/S 5.34 14.10 7.79
P/B 4.80 3.60 3.85
Price to free cash flow 14.40 22.67 18.75
EV/EBITDA 13.56 20.38 15.55
EV/Sales 5.15 14.27 6.94
Earnings yield 4.99% 4.49% 4.49%
Free cash flow yield 6.94% 4.41% 4.68%

Profitability

Metric CBOE CME Financial Data & Stock Exchanges median
Gross margin 54.08% 100.00% 70.90%
Operating margin 34.69% 65.10% 29.55%
Net margin 26.62% 63.11% 23.21%
Free cash flow margin 37.04% 62.20% 29.05%
Return on equity 26.19% 15.76% 15.34%
Return on assets 13.71% 2.28% 6.82%
Return on invested capital 23.45% 9.96% 9.96%

Growth

Metric CBOE CME Financial Data & Stock Exchanges median
Revenue growth (TTM) 11.68% 5.10% 9.16%
EPS growth (last fiscal year) 44.52% 15.41% —
Revenue growth, 5-year CAGR 6.59% 5.95% 7.76%
Net income growth, 5-year CAGR 18.58% 13.82% 9.78%

Health

Metric CBOE CME Financial Data & Stock Exchanges median
Debt to equity 0.26 0.13 0.48
Current ratio 1.57 1.02 1.06
Net debt to EBITDA (0.49) (0.25) 1.08

Dividend

Metric CBOE CME Financial Data & Stock Exchanges median
Dividend yield 1.27% 4.58% 1.16%
Payout ratio 0.33 1.06 0.42

Size

Metric CBOE CME Financial Data & Stock Exchanges median
Market cap 27.94b 96.48b 27.94b

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