Cboe Global Markets, Inc. (CBOE) vs Nasdaq, Inc. (NDAQ)

Cboe Global Markets, Inc. and Nasdaq, Inc. are both Financial Data & Stock Exchanges companies. Nasdaq, Inc. is the larger, with a market value of $52.9B against $27.9B — 1.9× the size. Cboe Global Markets, Inc. trades at the lower P/E: 20.0× against 27.0×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 11.7% against 7.42%. Cboe Global Markets, Inc. has the higher net margin (26.6% vs 22.5%) and the higher return on invested capital (23.5% vs 8.18%). Both pay a dividend; Nasdaq, Inc. yields more (1.62% vs 1.27%). Across the 23 metrics below, Cboe Global Markets, Inc. leads on 18 and Nasdaq, Inc. on 5.

Valuation

Metric CBOE NDAQ Financial Data & Stock Exchanges median
P/E 20.05 26.96 21.77
P/S 5.34 6.04 7.79
P/B 4.80 4.40 3.85
Price to free cash flow 14.40 27.05 18.75
EV/EBITDA 13.56 18.73 15.55
EV/Sales 5.15 6.94 6.94
Earnings yield 4.99% 3.71% 4.49%
Free cash flow yield 6.94% 3.70% 4.68%

Profitability

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Gross margin 54.08% 64.27% 70.90%
Operating margin 34.69% 29.60% 29.55%
Net margin 26.62% 22.52% 23.21%
Free cash flow margin 37.04% 22.34% 29.05%
Return on equity 26.19% 16.52% 15.34%
Return on assets 13.71% 6.82% 6.82%
Return on invested capital 23.45% 8.18% 9.96%

Growth

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Revenue growth (TTM) 11.68% 7.42% 9.16%
EPS growth (last fiscal year) 44.52% 60.10% —
Revenue growth, 5-year CAGR 6.59% 7.99% 7.76%
Net income growth, 5-year CAGR 18.58% 13.89% 9.78%

Health

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Debt to equity 0.26 0.71 0.48
Current ratio 1.57 1.01 1.06
Net debt to EBITDA (0.49) 2.61 1.08

Dividend

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Dividend yield 1.27% 1.62% 1.16%
Payout ratio 0.33 0.37 0.42

Size

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Market cap 27.94b 52.94b 27.94b

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