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 $32.2B against $7.9B — 4.1× the size. Morningstar, Inc. trades at the lower P/E: 19.5× against 24.5×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 11.7% against 9.33%. Cboe Global Markets, Inc. has the higher net margin (26.6% vs 16.4%) and the higher return on invested capital (23.5% vs 17.1%). Both pay a dividend; Cboe Global Markets, Inc. yields more (0.96% vs 0.96%). Across the 20 metrics below, Cboe Global Markets, Inc. leads on 12 and Morningstar, Inc. on 8.

Valuation

Metric CBOE MORN Financial Data & Stock Exchanges median
P/E 24.50 19.54 23.59
P/S 6.52 3.05 6.89
P/B 5.87 7.66 4.00
Price to free cash flow 17.60 15.76 19.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.08% 5.12% 4.04%
Free cash flow yield 5.68% 6.35% 4.39%

Profitability

Metric CBOE MORN Financial Data & Stock Exchanges median
Gross margin 54.08% 62.24% 70.90%
Operating margin 34.69% 23.53% 28.27%
Net margin 26.62% 16.43% 22.52%
Free cash flow margin 37.04% 19.38% 28.57%
Return on equity 26.19% 31.96% 15.12%
Return on assets 13.71% 11.13% 6.82%
Return on invested capital 23.45% 17.05% 9.96%

Growth

Metric CBOE MORN Financial Data & Stock Exchanges median
Revenue growth (TTM) 11.68% 9.33% 9.16%
EPS growth (last fiscal year) 44.52% 3.38% 15.41%
Revenue growth, 5-year CAGR 6.59% 11.97% 8.62%
Net income growth, 5-year CAGR 18.58% 10.85% 10.27%

Health

Metric CBOE MORN Financial Data & Stock Exchanges median
Debt to equity 0.26 1.67 0.48
Current ratio 1.57 1.06 1.06
Net debt to EBITDA (0.49) 0.76 1.19

Dividend

Metric CBOE MORN Financial Data & Stock Exchanges median
Dividend yield 0.96% 0.96% 1.28%
Payout ratio 0.24 0.19 0.32

Size

Metric CBOE MORN Financial Data & Stock Exchanges median
Market cap 32.17b 7.85b 32.17b

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