Cboe Global Markets CBOE Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Europe and Asia Pacific | $119.4M+28.2% | $93.7M+16.0% | $92.8M+14.4% | $99M+21.3% | $93.1M+15.4% | |
| Futures | $38.9M+10.2% | $36.1M+6.5% | $32M-19.8% | $32.5M-9.5% | $35.3M+12.4% | |
| Global FX | $30.4M+38.8% | $24.4M+22.6% | $23.1M+11.6% | $24.4M+19.0% | $21.9M+16.5% | |
| North American Equities | $415.7M-9.7% | $392.6M-10.8% | $377.8M-6.4% | $441.8M+25.0% | $460.1M+31.6% | |
| Options | $668.4M+14.3% | $657.2M+23.4% | $616M+20.7% | $575.8M+19.4% | $584.6M+22.5% | |
| Total cost of revenues by Business | ||||||
| Europe and Asia Pacific | $34.5M+19.0% | $23.8M-3.3% | $23.7M-7.1% | $28.6M+4.8% | $29M+9.0% | |
| Futures | $3.1M+24.0% | $2.4M-35.1% | $2.4M+26.3% | $2.4M+118% | $2.5M+178% | |
| Global FX | $1M+66.7% | $700K+40.0% | $600K-14.3% | $800K+14.3% | $600K+50.0% | |
| North American Equities | $304.5M-16.7% | $281.9M-18.4% | $274.3M-10.2% | $343.4M+34.7% | $365.5M+42.2% | |
| Options | $200.8M-13.5% | $224.1M+7.6% | $235.2M+24.2% | $211M+20.2% | $232.2M+36.6% | |
| Net Income by Business | ||||||
| Europe and Asia Pacific | $38M+80.1% | —— | $16.2M+42.1% | $2.7M-73.0% | $21.1M+148% | |
| Futures | $24.6M+16.0% | $7.1M— | $17.4M-40.8% | $17.7M-32.7% | $21.2M-4.1% | |
| Global FX | $17.8M+67.9% | $11.7M+41.0% | $11.5M+25.0% | $12.6M+37.0% | $10.6M+63.1% | |
| North American Equities | $65.9M+50.1% | $18.9M-14.1% | $54M+22.4% | $47.1M+4.7% | $43.9M+17.1% | |
| Options | $359.8M+39.5% | $0— | $274.8M+24.3% | $258.7M+19.4% | $258M+19.1% | |
| Other income, net by Business | ||||||
| Europe and Asia Pacific | -$400K-100% | $600K— | $1.4M+367% | -$100K+50.0% | -$200K0.0% | |
| Futures | $0— | $0— | $0— | $0— | $0— | |
| Global FX | $0-100% | $0-100% | $0— | $0— | $200K+300% | |
| North American Equities | $100K+117% | -$200K-133% | $200K— | -$600K-700% | -$600K— | |
| Options | $200K— | -$200K-200% | $200K+200% | -$1.4M-240% | $0+100% | |
| Revenues less cost of revenues by Business | ||||||
| Europe and Asia Pacific | $84.9M+32.4% | $69.9M+24.4% | $69.1M+24.3% | $70.4M+29.7% | $64.1M+18.5% | |
| Futures | $35.8M+9.1% | $33.7M+11.6% | $29.6M-22.1% | $30.1M-13.5% | $32.8M+7.5% | |
| Global FX | $29.4M+38.0% | $23.7M+22.2% | $22.5M+12.5% | $23.6M+19.2% | $21.3M+15.8% | |
| North American Equities | $111.2M+17.5% | $110.7M+16.6% | $103.5M+5.6% | $98.4M+0.1% | $94.6M+2.2% | |
| Options | $467.6M+32.7% | $433.1M+33.5% | $380.8M+18.7% | $364.8M+18.9% | $352.4M+14.6% | |
| Operating Income (Loss) by Business | ||||||
| Europe and Asia Pacific | $39.7M+80.5% | $10.7M-2.7% | $16.4M+45.1% | $4.8M-47.8% | $22M+116% | |
| Futures | $24.1M+17.0% | $19.4M-8.1% | $16.8M-42.9% | $17.1M-35.0% | $20.6M-6.8% | |
| Global FX | $17.8M+72.8% | $11.7M+42.7% | $11.5M+25.0% | $12.5M+35.9% | $10.3M+56.1% | |
| North American Equities | $66.5M+49.8% | $42.9M+4.1% | $53.5M+21.3% | $47.3M+4.4% | $44.4M+16.8% | |
| Options | $359.6M+39.4% | $321.1M+42.8% | $274.4M+24.1% | $259.9M+20.5% | $257.9M+19.0% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Business | ||||||
| Europe and Asia Pacific | $38M+80.1% | $10M-2.0% | $16.5M+52.8% | $3.7M-54.3% | $21.1M+140% | |
| Futures | $24.6M+16.0% | $20M-5.2% | $17.4M-40.8% | $17.7M-32.7% | $21.2M-4.1% | |
| Global FX | $17.8M+69.5% | $11.7M+39.3% | $11.5M+25.0% | $12.6M+37.0% | $10.5M+61.5% | |
| North American Equities | $67.1M+49.8% | $43.4M+1.6% | $55M+22.8% | $47.9M+4.4% | $44.8M+17.0% | |
| Options | $359.8M+39.4% | $321.4M+42.6% | $274.8M+24.3% | $258.7M+19.4% | $258.1M+19.1% | |
| Intangibles (Net) by Business | ||||||
| Europe and Asia Pacific | $309.8M-6.8% | $318.1M-2.6% | $320.6M-9.3% | $331M-1.8% | $332.3M-2.6% | |
| Global FX | $32.4M-22.1% | $34.6M-21.7% | $36.9M-21.7% | $39.3M— | $41.6M— | |
| North American Equities | $814M-6.4% | $824.6M-6.3% | $851.2M-5.0% | $862.7M— | $869.2M— | |
| Options | $118.4M-5.1% | $119.9M-5.1% | $121.6M-5.1% | $123.2M— | $124.7M— | |
| Other segment operating expenses by Business | ||||||
| Europe and Asia Pacific | $38.5M+12.6% | $51M+35.6% | $44.5M+19.9% | $57.5M+49.4% | $34.2M-5.0% | |
| Futures | $11.1M-4.3% | $13.7M+59.3% | $12.2M+52.5% | $12.5M+58.2% | $11.6M+48.7% | |
| Global FX | $9M+11.1% | $9.2M+13.6% | $8.2M+6.5% | $8.4M+13.5% | $8.1M+5.2% | |
| North American Equities | $33.3M-12.8% | $56M+41.1% | $38.3M-3.8% | $39.6M+2.3% | $38.2M-1.5% | |
| Options | $99.8M+13.9% | $104.2M+12.5% | $98.8M+6.1% | $97.9M+15.6% | $87.6M+4.9% | |
| Loss on investments, net by Business | ||||||
| Europe and Asia Pacific | $0— | $0— | $0— | $0— | $0— | |
| Futures | $0— | $0— | $0— | $0— | $0— | |
| Global FX | $0— | $0— | $0— | $0— | $0— | |
| North American Equities | -$300K-200% | —— | $400K— | $300K— | $300K— | |
| Options | $0— | $0— | $0— | $0— | $0— | |
| Income tax provision by Business | ||||||
| Europe and Asia Pacific | $0— | $17.4M+12.3% | $300K+150% | $1M+153% | $0-100% | |
| Futures | $0— | $12.9M-54.6% | $0— | $0— | $0— | |
| Global FX | $0+100% | $0-100% | $0— | $0— | -$100K— | |
| North American Equities | $1.2M+33.3% | $24.5M+18.4% | $1M+42.9% | $800K-11.1% | $900K+12.5% | |
| Options | $0-100% | $373.6M+24.9% | $0— | $0— | $100K— | |
| Interest Expense, Nonoperating by Business | ||||||
| Europe and Asia Pacific | $2.4M+33.3% | $2.4M+26.3% | $2.4M+26.3% | $2M+5.3% | $1.8M-14.3% | |
| Futures | $0— | $0— | $0— | $0— | $0— | |
| Global FX | $0— | $0— | $0— | $0— | $0— | |
| North American Equities | $0— | $0— | $0— | $0— | $0— | |
| Options | $0— | $0— | $0— | $0— | $0+100% | |
| Interest Income by Business | ||||||
| Europe and Asia Pacific | $1.1M0.0% | $1.1M0.0% | $1.1M0.0% | $1M0.0% | $1.1M+22.2% | |
| Futures | $500K-16.7% | $600K— | $600K— | $600K— | $600K— | |
| Global FX | $0— | $0-100% | $0— | $100K— | $0— | |
| North American Equities | $800K+14.3% | $800K-11.1% | $900K+28.6% | $900K+80.0% | $700K+133% | |
| Options | $0-100% | $500K+25.0% | $200K+100% | $200K— | $200K— | |
| Indefinite-lived intangible assets, gross by Business | ||||||
| Europe and Asia Pacific | $215M+1.8% | $219.4M+6.9% | $218.6M+0.1% | $224.3M+8.6% | $211.1M+2.3% | |
| Global FX | $0— | $0— | $0— | $0— | $0— | |
| North American Equities | $586.7M-2.8% | $586.9M-2.7% | $604.4M-0.1% | $605M— | $603.4M— | |
| Options | $95.5M0.0% | $95.5M0.0% | $95.5M0.0% | $95.5M— | $95.5M— | |
| Finite-lived intangible assets, gross by Business | ||||||
| Europe and Asia Pacific | $202.2M-5.9% | $204.7M-2.2% | $203.8M-9.2% | $207.1M-2.0% | $214.9M+1.7% | |
| Global FX | $140M0.0% | $140M0.0% | $140M0.0% | $140M0.0% | $140M0.0% | |
| North American Equities | $411.3M+0.4% | $412.1M+0.6% | $411.4M-0.4% | $412.4M0.0% | $409.8M-0.7% | |
| Options | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | |
| Changes in foreign currency exchange rates by Business | ||||||
| Europe and Asia Pacific | -$5.6M-174% | $1.2M+107% | —— | $16.1M— | $7.6M+338% | |
| Global FX | $0— | $0— | $0— | $0— | $0— | |
| North American Equities | -$800K-900% | $1.1M+124% | —— | $3.5M— | $100K+103% | |
| Options | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Europe and Asia Pacific | $6.7M-15.2% | $8.2M+7.9% | $8.2M+13.9% | $8.1M+22.7% | $7.9M0.0% | |
| Futures | $600K0.0% | $600K+20.0% | $600K0.0% | $500K-16.7% | $600K0.0% | |
| Global FX | $2.6M-10.3% | $2.8M-9.7% | $2.8M-9.7% | $2.7M-15.6% | $2.9M-29.3% | |
| North American Equities | $11.4M-5.0% | $11.8M-15.7% | $11.7M-17.0% | $11.5M-19.6% | $12M-24.1% | |
| Options | $8.2M+18.8% | $7.8M+13.0% | $7.6M+15.2% | $7M+9.4% | $6.9M-2.8% | |
| Amortization expense by Business | ||||||
| Europe and Asia Pacific | $3.5M-5.4% | $3.5M-10.3% | $3.4M-10.5% | $3.6M-5.3% | $3.7M-19.6% | |
| Global FX | $2.2M-15.4% | $2.3M-20.7% | $2.4M— | $2.3M— | $2.6M-27.8% | |
| North American Equities | $9.5M-8.7% | $9.9M-17.5% | $9.8M— | $9.8M— | $10.4M-24.1% | |
| Options | $1.5M-11.8% | $1.7M0.0% | $1.6M— | $1.5M— | $1.7M-32.0% | |
| Impairment of intangible assets by Business | ||||||
| Europe and Asia Pacific | $0— | —— | $4.6M— | —— | —— | |
| Global FX | $0— | $0— | $0— | —— | —— | |
| North American Equities | $300K— | $17.7M— | $0— | —— | —— | |
| Options | $0— | $0— | $0— | —— | —— | |
| Finite-Lived Intangible Assets, Accumulated Amortization by Business | ||||||
| Europe and Asia Pacific | $208.9M+8.2% | $209.3M+13.5% | $204.8M+6.8% | $205.3M+15.3% | $193M+11.0% | |
| Global FX | $195.7M+4.9% | $193.5M+5.2% | $191.2M+5.6% | $188.8M+5.9% | $186.5M+6.3% | |
| North American Equities | $569.8M+7.3% | $560.8M+7.8% | $551.5M+8.2% | $542.3M+9.1% | $530.8M+9.4% | |
| Options | $118.1M+5.4% | $116.6M+5.7% | $115.1M+6.0% | $113.5M+6.3% | $112M+6.6% | |
| Goodwill by Business | ||||||
| Europe and Asia Pacific | $573.4M+1.0% | $579M+3.4% | $577.8M+0.2% | $583.7M+4.1% | $567.6M+1.4% | |
| Global FX | $267.4M0.0% | $267.4M0.0% | $267.4M+0.1% | $267.4M+0.1% | $267.4M+0.1% | |
| North American Equities | $2B+0.2% | $2B+0.4% | $2B-0.3% | $2B0.0% | $1.99B-0.5% | |
| Options | $306M0.0% | $306M0.0% | $306M+0.1% | $306M+0.1% | $306M+0.1% | |
| Total revenues by Product | ||||||
| Cash and spot markets | $482.2M-3.7% | $431.3M-8.0% | $415M-4.4% | $487.6M+26.2% | $500.9M+31.5% | |
| Data Vantage | $181.3M+18.9% | $162.6M+9.3% | $162.1M+11.3% | $158.3M+11.4% | $152.5M+8.8% | |
| Derivatives markets | $609.3M+12.5% | $610.1M+24.4% | $564.6M+18.6% | $527.6M+18.4% | $541.6M+24.2% | |
| Total cost of revenues by Product | ||||||
| Liquidity payments | $446.1M+13.0% | $443.6M+21.3% | $453.3M+42.7% | $418M+36.2% | $394.8M+16.5% | |
| Regulatory fees cost of revenues | $0-100% | —— | —— | —— | $153.1M+56.5% | |
| Routing and clearing | $20M+2.0% | $20.1M+9.8% | $20M+14.9% | $20.7M+24.7% | $19.6M+22.5% | |
| Royalty fees and other cost of revenues | $77.8M+24.9% | $68.9M+20.9% | $62.9M+6.3% | $62.2M+5.6% | $62.3M+7.0% | |
| Revenues less cost of revenues by Geography | ||||||
| Other | $95.1M+30.1% | —— | —— | —— | $73.1M— | |
| United States | $633.8M+28.8% | $591.6M+28.7% | $527.6M+12.7% | $508.1M+12.9% | $492.1M+12.7% | |
| Long-Lived Assets by Geography | ||||||
| Other | $27.5M— | $29.6M-17.8% | —— | —— | —— | |
| United Kingdom | $26.2M— | $30M+26.1% | —— | —— | —— | |
| United States | $188.8M— | $184.5M+1.0% | —— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Cboe Global Markets break its business down?
- Cboe Global Markets (CBOE) reports total revenues by business across 5 parts — Europe and Asia Pacific, Futures, Global FX, North American Equities and Options. Each is extracted from the segment footnotes and tracked over time.
- Where does Cboe Global Markets's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Cboe Global Markets's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
