Cboe Global Markets, Inc. (CBOE) vs Morningstar, Inc. (MORN)

Cboe Global Markets, Inc. and Morningstar, Inc. are both Financial Data & Stock Exchanges companies. Cboe Global Markets, Inc. is the larger, with a market value of $36.8B against $9.2B — 4.0× the size. Morningstar, Inc. trades at the lower P/E: 21.5× against 25.0×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 14.3% against 9.43%. Cboe Global Markets, Inc. has the higher net margin (27.9% vs 17.0%) and the higher return on invested capital (25.7% vs 18.5%). Both pay a dividend; Cboe Global Markets, Inc. yields more (0.86% vs 0.81%). Across the 21 metrics below, Cboe Global Markets, Inc. leads on 15 and Morningstar, Inc. on 6.

Valuation

Metric CBOE MORN Financial Data & Stock Exchanges median
P/E 24.98 21.46 24.85
P/S 6.97 3.53 6.75
P/B 6.21 9.01 4.56
Price to free cash flow 14.53 18.76 20.23
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.00% 4.66% 4.00%
Free cash flow yield 6.88% 5.33% 4.59%

Profitability

Metric CBOE MORN Financial Data & Stock Exchanges median
Gross margin 53.88% 63.07% 72.83%
Operating margin 36.37% 24.55% 29.06%
Net margin 27.94% 17.00% 25.36%
Free cash flow margin 47.94% 18.80% 32.14%
Return on equity 27.28% 35.08% 17.00%
Return on assets 14.53% 11.87% 8.22%
Return on invested capital 25.71% 18.45% 10.55%

Growth

Metric CBOE MORN Financial Data & Stock Exchanges median
Revenue growth (TTM) 14.31% 9.43% 10.44%
EPS growth (last fiscal year) 44.52% 3.38% 13.54%
Revenue growth, 5-year CAGR 6.59% 11.97% 9.24%
Net income growth, 5-year CAGR 18.58% 10.85% 10.85%

Health

Metric CBOE MORN Financial Data & Stock Exchanges median
Debt to equity 0.24 1.64 0.67
Current ratio 1.61 1.05 1.04
Net debt to EBITDA (0.49) 0.76 1.20

Dividend

Metric CBOE MORN Financial Data & Stock Exchanges median
Dividend yield 0.86% 0.81% 1.13%
Payout ratio 0.21 0.17 0.29

Size

Metric CBOE MORN Financial Data & Stock Exchanges median
Market cap 36.84b 9.17b 38.07b

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