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Cboe Global Markets CBOE United States — Revenues less cost of revenues

Other financials

Income statement

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Revenue$1.4B+22.9%
Gross profit$728.9M+29.0%
Operating income$505.6M+42.9%
Net income$353.1M+50.2%
EPS (diluted)$3.35+50.2%

Balance sheet

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Cash & equivalents$5.6B+110%
Total debt$1.6B-1.2%
Total equity$5.4B+20.7%
Total assets$11.1B+27.7%

Cash flow

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Operating cash flow$2.0B+115%
CapEx$19.2M+30.6%
Free cash flow$1.9B+116%

Valuation

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Market cap$30.2B+16.4%
Enterprise value$26.17B+12.2%
P/E22.3×-6.5×
P/S+0.2×

Profitability

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Gross margin54.1%+4.8pp
Operating margin33.8%+6.8pp
Net margin26.7%+6.9pp
FCF margin56.8%

Returns & leverage

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Return on equity25.1%+6.1pp
Debt / equity0.3×-0.1×
Current ratio1.4×-0.2×

Where this comes from

Reported directly by Cboe Global Markets in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The source filing: Cboe Global Markets’s 10-Q, filed May 1, 2026.

Filed
Apr 30, 2026, 8:00 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0001628280-26-029112
Line itemRevenues less cost of revenues / Three months ended / March 31, 2026Revenues less cost of revenues / Three months ended / March 31, 2025Long-lived assets / As of / March 31, 2026Long-lived assets / As of / December 31, 2025
United States$633.8$492.1$188.8$184.5
United Kingdom**26.230.0
Other95.173.127.529.6
Total$728.9$565.2$242.5$244.1

Item 1. Financial Statements (unaudited)

FAQ

What is Cboe Global Markets's united states — revenues less cost of revenues?
Cboe Global Markets (CBOE) reported united states — revenues less cost of revenues of $633.8M in Q1 2026.
How has Cboe Global Markets's united states — revenues less cost of revenues changed year-over-year?
Cboe Global Markets's united states — revenues less cost of revenues increased by 28.8% year-over-year, from $492.1M to $633.8M.
What is the long-term trend for Cboe Global Markets's united states — revenues less cost of revenues?
Over 4 years (2021 to 2025), Cboe Global Markets's united states — revenues less cost of revenues has grown at a 13.3% compound annual growth rate (CAGR), from $1.29B to $2.12B.
What does united states — revenues less cost of revenues mean?
This metric represents the net revenue generated from operations within the United States after deducting direct costs associated with revenue generation, such as liquidity payments and routing fees. It serves as a primary indicator of the profitability and scale of the company's core trading and market infrastructure business in its domestic market. By focusing on net revenue, it highlights the underlying margin contribution of the U.S. segment before accounting for broader operating expenses.

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