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 $59.3B against $36.8B — 1.6× the size. Cboe Global Markets, Inc. trades at the lower P/E: 25.0× against 28.9×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 14.3% against 11.5%. Cboe Global Markets, Inc. has the higher net margin (27.9% vs 22.8%) and the higher return on invested capital (25.7% vs 8.56%). Both pay a dividend; Nasdaq, Inc. yields more (1.08% vs 0.86%). Across the 21 metrics below, Cboe Global Markets, Inc. leads on 15 and Nasdaq, Inc. on 6.

Valuation

Metric CBOE NDAQ Financial Data & Stock Exchanges median
P/E 24.98 28.91 24.85
P/S 6.97 6.53 6.75
P/B 6.21 4.98 4.56
Price to free cash flow 14.53 26.47 20.23
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.00% 3.46% 4.00%
Free cash flow yield 6.88% 3.78% 4.59%

Profitability

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Gross margin 53.88% 63.17% 72.83%
Operating margin 36.37% 29.85% 29.06%
Net margin 27.94% 22.78% 25.36%
Free cash flow margin 47.94% 24.68% 32.14%
Return on equity 27.28% 17.34% 17.00%
Return on assets 14.53% 7.18% 8.22%
Return on invested capital 25.71% 8.56% 10.55%

Growth

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Revenue growth (TTM) 14.31% 11.45% 10.44%
EPS growth (last fiscal year) 44.52% 60.10% 13.54%
Revenue growth, 5-year CAGR 6.59% 7.99% 9.24%
Net income growth, 5-year CAGR 18.58% 13.89% 10.85%

Health

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Debt to equity 0.24 0.71 0.67
Current ratio 1.61 1.00 1.04
Net debt to EBITDA (0.49) 2.61 1.20

Dividend

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Dividend yield 0.86% 1.08% 1.13%
Payout ratio 0.21 0.32 0.29

Size

Metric CBOE NDAQ Financial Data & Stock Exchanges median
Market cap 36.84b 59.29b 38.07b

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