Cboe Global Markets CBOE Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Europe and Asia Pacific | $404.9M+20.3% | $378.6M+16.8% | $365.7M+15.3% | $354M+16.9% | $336.6M+16.2% | |
| Futures | $139.5M-3.8% | $135.9M-3.7% | $133.7M-5.0% | $141.6M+5.5% | $145M+13.0% | |
| Global FX | $102.3M+23.3% | $93.8M+17.4% | $89.3M+12.8% | $86.9M+12.6% | $83M+10.8% | |
| North American Equities | $1.63B-1.8% | $1.67B+8.1% | $1.72B+19.3% | $1.75B+28.8% | $1.66B+25.3% | |
| Options | $2.52B+19.3% | $2.43B+21.5% | $2.31B+16.8% | $2.2B+13.5% | $2.11B+9.3% | |
| Total cost of revenues by Business | ||||||
| Europe and Asia Pacific | $110.6M+3.9% | $105.1M+1.1% | $105.9M+3.7% | $107.7M+8.4% | $106.4M+12.2% | |
| Futures | $10.3M+12.0% | $9.7M+27.6% | $11M+126% | $10.5M+166% | $9.2M+141% | |
| Global FX | $3.1M+24.0% | $2.7M+17.4% | $2.5M+16.3% | $2.6M+44.4% | $2.5M+72.4% | |
| North American Equities | $1.2B-5.3% | $1.27B+8.8% | $1.33B+24.8% | $1.36B+35.2% | $1.27B+27.4% | |
| Options | $871.1M+8.1% | $902.5M+21.4% | $886.7M+21.9% | $840.9M+15.1% | $805.5M+7.7% | |
| Net Income by Business | ||||||
| Futures | $66.8M— | $63.4M— | —— | —— | —— | |
| Global FX | $53.6M+43.7% | $46.4M+39.8% | $43M+39.2% | $40.7M+46.9% | $37.3M+52.2% | |
| North American Equities | $185.9M+19.9% | $163.9M+10.3% | $167M+9.3% | $157.1M+16.5% | $155M+33.7% | |
| Options | $893.3M— | $791.5M— | —— | —— | —— | |
| Other income, net by Business | ||||||
| Europe and Asia Pacific | $1.5M+1,600% | $1.7M+1,800% | $1.1M+540% | $0+100% | -$100K+84.6% | |
| Futures | $0— | $0— | $0— | $0— | $0— | |
| Global FX | $0-100% | $200K— | $300K+300% | $300K+250% | $300K+220% | |
| North American Equities | -$500K-600% | -$1.2M-271% | -$400K-500% | -$600K-700% | $100K— | |
| Options | -$1.2M-220% | -$1.4M-275% | -$1M-274% | -$1.4M-287% | $1M+464% | |
| Revenues less cost of revenues by Business | ||||||
| Europe and Asia Pacific | $294.3M+27.8% | $273.5M+24.2% | $259.8M+22.8% | $246.3M+21.0% | $230.2M+17.0% | |
| Futures | $129.2M-4.9% | $126.2M-5.5% | $122.7M-8.8% | $131.1M+2.5% | $135.8M+9.2% | |
| Global FX | $99.2M+23.2% | $91.1M+17.4% | $86.8M+13.4% | $84.3M+12.5% | $80.5M+9.5% | |
| North American Equities | $423.8M+9.8% | $407.2M+6.1% | $391.4M+2.9% | $385.9M+3.3% | $385.8M+5.2% | |
| Options | $1.65B+26.2% | $1.53B+21.6% | $1.42B+15.9% | $1.36B+13.7% | $1.3B+10.1% | |
| Operating Income (Loss) by Business | ||||||
| Europe and Asia Pacific | $71.6M+33.8% | $53.9M+29.3% | $54.2M+23.2% | $49.1M+39.1% | $53.5M+69.3% | |
| Futures | $77.4M-20.5% | $73.9M-25.3% | $75.6M-24.6% | $88.2M-7.4% | $97.4M+11.6% | |
| Global FX | $53.5M+45.0% | $46M+38.6% | $42.5M+34.9% | $40.2M+30.5% | $36.9M+38.7% | |
| North American Equities | $210.2M+20.1% | $188.1M+11.6% | $186.4M+17.0% | $177M+17.9% | $175M+37.1% | |
| Options | $1.22B+32.1% | $1.11B+26.7% | $1.02B+14.7% | $963.8M+9.6% | $919.5M+6.0% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Business | ||||||
| Europe and Asia Pacific | $68.2M+35.9% | $51.3M+35.4% | $51.5M+49.2% | $45.8M+49.9% | $50.2M+71.5% | |
| Futures | $79.7M-18.7% | $76.3M-22.9% | $77.4M-22.1% | $89.4M-2.2% | $98M+13.1% | |
| Global FX | $53.6M+43.7% | $46.3M+39.0% | $43M+38.6% | $40.7M+45.6% | $37.3M+49.9% | |
| North American Equities | $213.4M+19.8% | $191.1M+11.3% | $190.4M+19.9% | $180.2M+25.2% | $178.2M+39.4% | |
| Options | $1.21B+31.9% | $1.11B+26.5% | $1.02B+17.3% | $963.3M+12.1% | $921.2M+7.7% | |
| Intangibles (Net) by Business | ||||||
| Europe and Asia Pacific | $1.28B-5.2% | $1.3B-4.2% | $1.31B-5.3% | $1.34B-2.1% | $1.35B-3.1% | |
| Global FX | $143.2M— | $152.4M— | $162M— | $172.2M— | —— | |
| North American Equities | $3.35B— | $3.41B— | $3.46B— | $3.51B— | —— | |
| Options | $483.1M— | $489.4M— | $495.9M— | $502.4M— | —— | |
| Other segment operating expenses by Business | ||||||
| Europe and Asia Pacific | $191.5M+29.9% | $187.2M+25.5% | $173.8M+21.3% | $166.4M+20.7% | $147.4M+12.4% | |
| Futures | $49.5M+37.1% | $50M+54.8% | $44.9M+36.3% | $40.7M+19.0% | $36.1M+1.5% | |
| Global FX | $34.8M+11.2% | $33.9M+9.7% | $32.8M+7.9% | $32.3M+6.6% | $31.3M+2.6% | |
| North American Equities | $167.2M+6.9% | $172.1M+9.6% | $155.8M-3.7% | $157.3M-5.5% | $156.4M-9.2% | |
| Options | $400.7M+11.9% | $388.5M+9.8% | $376.9M+13.1% | $371.2M+18.9% | $358M+19.6% | |
| 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— | |
| Options | $0— | $0— | $0— | $0— | $0— | |
| Income tax provision by Business | ||||||
| Europe and Asia Pacific | $18.7M+43.8% | $18.7M+40.6% | $16.8M+3,460% | $15.9M+783% | $13M+141% | |
| Futures | $12.9M-54.6% | $12.9M-54.6% | $28.4M+240% | $28.4M+70.1% | $28.4M+13.4% | |
| Global FX | $0— | -$100K-200% | $0-100% | $0-100% | $0-100% | |
| North American Equities | $27.5M+18.5% | $27.2M+17.7% | $23.4M+284% | $23.1M+154% | $23.2M+95.0% | |
| Options | $373.6M+24.9% | $373.7M+24.9% | $299.2M+334% | $299.2M+117% | $299.2M+44.7% | |
| Interest Expense, Nonoperating by Business | ||||||
| Europe and Asia Pacific | $9.2M+22.7% | $8.6M+10.3% | $8.1M+3.2% | $7.6M-3.8% | $7.5M-5.7% | |
| Futures | $0— | $0— | $0— | $0— | $0— | |
| Global FX | $0— | $0— | $0— | $0— | $0— | |
| North American Equities | $0— | $0— | $0— | $0— | $0— | |
| Options | $0— | $0+100% | $0+100% | $0+100% | $0+100% | |
| Interest Income by Business | ||||||
| Europe and Asia Pacific | $4.3M0.0% | $4.3M+4.9% | $4.3M+14.7% | $4.3M+26.5% | $4.3M+36.5% | |
| Futures | $2.3M+283% | $2.4M— | $1.8M— | $1.2M— | $600K— | |
| Global FX | $100K0.0% | $100K0.0% | $200K— | $200K— | $100K— | |
| North American Equities | $3.4M+21.4% | $3.3M+37.5% | $3.4M+83.8% | $3.2M+113% | $2.8M+107% | |
| Options | $900K+28.6% | $1.1M+120% | $1M+1,233% | $900K+1,900% | $700K+1,033% | |
| Indefinite-lived intangible assets, gross by Business | ||||||
| Europe and Asia Pacific | $877.3M+4.3% | $873.4M+4.4% | $859.2M+2.2% | $859M+4.4% | $841.3M+2.1% | |
| Global FX | $0— | $0— | $0— | $0— | —— | |
| North American Equities | $2.38B— | $2.4B— | $2.42B— | $2.42B— | —— | |
| Options | $382M— | $382M— | $382M— | $382M— | —— | |
| Finite-lived intangible assets, gross by Business | ||||||
| Europe and Asia Pacific | $817.8M-4.9% | $830.5M-3.0% | $835M-3.3% | $855.6M+1.3% | $859.9M+1.5% | |
| Global FX | $560M0.0% | $560M0.0% | $560M0.0% | $560M0.0% | $560M0.0% | |
| North American Equities | $1.65B+0.2% | $1.65B-0.1% | $1.64B-0.5% | $1.64B-0.4% | $1.64B-0.5% | |
| Options | $214.4M0.0% | $214.4M0.0% | $214.4M0.0% | $214.4M0.0% | $214.4M0.0% | |
| Changes in foreign currency exchange rates by Business | ||||||
| Global FX | $0— | $0— | $0— | —— | —— | |
| Options | $0— | $0— | $0— | —— | —— | |
| D&A by Business | ||||||
| Europe and Asia Pacific | $31.2M+6.5% | $32.4M+10.6% | $31.8M+8.3% | $30.8M+3.2% | $29.3M-5.3% | |
| Futures | $2.3M0.0% | $2.3M0.0% | $2.2M-4.3% | $2.2M0.0% | $2.3M+9.5% | |
| Global FX | $10.9M-11.4% | $11.2M-17.0% | $11.5M-23.3% | $11.8M-28.5% | $12.3M-31.3% | |
| North American Equities | $46.4M-14.7% | $47M-19.2% | $49.2M-20.1% | $51.6M-20.4% | $54.4M-19.8% | |
| Options | $30.6M+14.2% | $29.3M+8.5% | $28.4M+2.8% | $27.4M-4.0% | $26.8M-9.7% | |
| Amortization expense by Business | ||||||
| Europe and Asia Pacific | $14M-7.9% | $14.2M-11.8% | $14.6M-12.6% | $15M-16.7% | $15.2M-24.0% | |
| Global FX | $9.2M— | $9.6M— | $10.2M— | —— | —— | |
| North American Equities | $39M— | $39.9M— | $42M— | —— | —— | |
| Options | $6.3M— | $6.5M— | $6.5M— | —— | —— | |
| Finite-Lived Intangible Assets, Accumulated Amortization by Business | ||||||
| Europe and Asia Pacific | $828.3M+10.9% | $812.4M+11.6% | $787.5M+10.2% | $774.4M+13.5% | $747.1M+12.4% | |
| Global FX | $769.2M+5.4% | $760M+5.7% | $750.4M+6.2% | $740.2M+6.7% | $729.7M+7.5% | |
| North American Equities | $2.22B+8.1% | $2.19B+8.6% | $2.14B+9.2% | $2.1B+10.1% | $2.06B+10.9% | |
| Options | $463.3M+5.8% | $457.2M+6.1% | $450.9M+6.6% | $444.4M+7.3% | $437.7M+8.3% | |
| Goodwill by Business | ||||||
| Europe and Asia Pacific | $2.31B+2.2% | $2.31B+2.3% | $2.29B+1.3% | $2.29B+2.3% | $2.26B+1.3% | |
| Global FX | $1.07B0.0% | $1.07B+0.1% | $1.07B+0.1% | $1.07B+0.1% | $1.07B0.0% | |
| North American Equities | $7.99B+0.1% | $7.98B-0.1% | $7.98B-0.4% | $7.98B-0.3% | $7.98B-0.3% | |
| Options | $1.22B0.0% | $1.22B0.0% | $1.22B+0.1% | $1.22B0.0% | $1.22B0.0% | |
| Total revenues by Product | ||||||
| Cash and spot markets | $1.82B+1.5% | $1.83B+9.9% | $1.87B+19.8% | $1.89B+29.2% | $1.79B+26.1% | |
| Data Vantage | $664.3M+12.8% | $635.5M+10.2% | $621.6M+9.9% | $605.1M+8.7% | $588.9M+7.1% | |
| Derivatives markets | $2.31B+18.3% | $2.24B+21.4% | $2.12B+16.3% | $2.04B+13.9% | $1.95B+10.1% | |
| Total cost of revenues by Product | ||||||
| Liquidity payments | $1.76B+27.1% | $1.71B+28.6% | $1.63B+24.0% | $1.5B+13.1% | $1.39B+2.4% | |
| Routing and clearing | $80.8M+12.4% | $80.4M+17.7% | $78.6M+18.2% | $76M+13.6% | $71.9M+1.1% | |
| Royalty fees and other cost of revenues | $271.8M+14.5% | $256.3M+9.9% | $244.4M+3.4% | $240.7M+5.6% | $237.4M+9.4% | |
| Revenues less cost of revenues by Geography | ||||||
| United States | $2.26B+20.9% | $2.12B+16.8% | $1.99B+10.8% | $1.93B+10.2% | $1.87B+9.6% |
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.
