Cboe Global Markets, Inc. (CBOE) vs Intercontinental Exchange Inc. (ICE)

Cboe Global Markets, Inc. and Intercontinental Exchange Inc. are both Financial Data & Stock Exchanges companies. Intercontinental Exchange Inc. is the larger, with a market value of $88.9B against $32.2B — 2.8× the size. Intercontinental Exchange Inc. trades at the lower P/E: 22.7× against 24.5×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 11.7% against 8.98%. Intercontinental Exchange Inc. has the higher net margin (38.3% vs 26.6%) and the lower return on invested capital (7.48% vs 23.5%). Both pay a dividend; Intercontinental Exchange Inc. yields more (1.58% vs 0.96%). Across the 21 metrics below, Cboe Global Markets, Inc. leads on 12 and Intercontinental Exchange Inc. on 9.

Valuation

Metric CBOE ICE Financial Data & Stock Exchanges median
P/E 24.50 22.69 23.59
P/S 6.52 8.63 6.89
P/B 5.87 3.08 4.00
Price to free cash flow 17.60 19.63 19.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.08% 4.41% 4.04%
Free cash flow yield 5.68% 5.09% 4.39%

Profitability

Metric CBOE ICE Financial Data & Stock Exchanges median
Gross margin 54.08% 98.59% 70.90%
Operating margin 34.69% 51.78% 28.27%
Net margin 26.62% 38.25% 22.52%
Free cash flow margin 37.04% 43.96% 28.57%
Return on equity 26.19% 13.89% 15.12%
Return on assets 13.71% 2.54% 6.82%
Return on invested capital 23.45% 7.48% 9.96%

Growth

Metric CBOE ICE Financial Data & Stock Exchanges median
Revenue growth (TTM) 11.68% 8.98% 9.16%
EPS growth (last fiscal year) 44.52% 20.71% 15.41%
Revenue growth, 5-year CAGR 6.59% 10.47% 8.62%
Net income growth, 5-year CAGR 18.58% 9.68% 10.27%

Health

Metric CBOE ICE Financial Data & Stock Exchanges median
Debt to equity 0.26 0.63 0.48
Current ratio 1.57 1.01 1.06
Net debt to EBITDA (0.49) 2.53 1.19

Dividend

Metric CBOE ICE Financial Data & Stock Exchanges median
Dividend yield 0.96% 1.58% 1.28%
Payout ratio 0.24 0.36 0.32

Size

Metric CBOE ICE Financial Data & Stock Exchanges median
Market cap 32.17b 88.93b 32.17b

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