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Cboe Global Markets vs Cme: revenue, profit, margins and growth compared

Cboe Global Markets brought in $4.7B of revenue in fiscal 2025, Cme $6.5B in fiscal 2025. Revenue changed by +15.1% at Cboe Global Markets and +6.4% at Cme on the year before, so Cboe Global Markets grew faster. Cboe Global Markets kept 23.3% of its revenue as net profit, Cme 62.5%. Free cash flow was $1.7B at Cboe Global Markets and $4.2B at Cme.

Side by side, latest fiscal year

CBOECME
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.7B$6.5B
Revenue growth+15.1%+6.4%
Net income$1.1B$4.1B
Net margin23.3%62.5%
Free cash flow$1.7B$4.2B
Free cash flow margin35.7%64.3%
Earnings per share (diluted)$10.42$11.16
Cash$2.2B$4.4B
Debt$1.4Bn/a
Price to earnings24.323.6
Market value$28.3B$94.7B
Dividend yield1.07%1.90%
Rank by revenue in sector#109 of 536 · Finance#92 of 536 · Finance

Over the years

Revenue
CBOE FY2018: $2.8BCBOE FY2019: $2.5BCBOE FY2020: $3.4BCBOE FY2021: $3.5BCBOE FY2022: $4BCBOE FY2023: $3.8BCBOE FY2024: $4.1BCBOE FY2025: $4.7BCME FY2018: $4.3BCME FY2019: $4.9BCME FY2020: $4.9BCME FY2021: $4.7BCME FY2022: $5BCME FY2023: $5.6BCME FY2024: $6.1BCME FY2025: $6.5BFY18FY19FY20FY21FY22FY23FY24FY25
CBOE $4.7BCME $6.5B
Net income
CBOE FY2018: $426.5MCBOE FY2019: $374.9MCBOE FY2020: $468.2MCBOE FY2021: $529MCBOE FY2022: $234.1MCBOE FY2023: $761.4MCBOE FY2024: $764.9MCBOE FY2025: $1.1BCME FY2018: $2BCME FY2019: $2.1BCME FY2020: $2.1BCME FY2021: $2.6BCME FY2022: $2.7BCME FY2023: $3.2BCME FY2024: $3.5BCME FY2025: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25
CBOE $1.1BCME $4.1B
Net margin
CBOE FY2018: 15.4%CBOE FY2019: 15.0%CBOE FY2020: 13.7%CBOE FY2021: 15.1%CBOE FY2022: 5.9%CBOE FY2023: 20.2%CBOE FY2024: 18.7%CBOE FY2025: 23.3%CME FY2018: 45.5%CME FY2019: 43.5%CME FY2020: 43.1%CME FY2021: 56.2%CME FY2022: 53.6%CME FY2023: 57.8%CME FY2024: 57.5%CME FY2025: 62.5%FY18FY19FY20FY21FY22FY23FY24FY25
CBOE 23.3%CME 62.5%
Revenue growth
CBOE FY2019: -9.8%CBOE FY2020: +37.3%CBOE FY2021: +2.0%CBOE FY2022: +13.3%CBOE FY2023: -4.7%CBOE FY2024: +8.5%CBOE FY2025: +15.1%CME FY2019: +13.0%CME FY2020: +0.3%CME FY2021: -4.0%CME FY2022: +7.0%CME FY2023: +11.1%CME FY2024: +9.9%CME FY2025: +6.4%FY19FY20FY21FY22FY23FY24FY25
CBOE +15.1%CME +6.4%
Free cash flow
CBOE FY2018: $498.4MCBOE FY2019: $597.7MCBOE FY2020: $1.4BCBOE FY2021: $545.8MCBOE FY2022: $591.3MCBOE FY2023: $1BCBOE FY2024: $1BCBOE FY2025: $1.7BCME FY2018: $2.3BCME FY2019: $2.4BCME FY2020: $2.5BCME FY2021: $2.3BCME FY2022: $3BCME FY2023: $3.4BCME FY2024: $3.6BCME FY2025: $4.2BFY18FY19FY20FY21FY22FY23FY24FY25
CBOE $1.7BCME $4.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Cboe Global Markets and Cme

Which is bigger by revenue, Cboe Global Markets or Cme?

Cme is bigger by revenue: $6.5B in fiscal 2025, against $4.7B for Cboe Global Markets in fiscal 2025.

Which keeps more of its revenue as profit, Cboe Global Markets or Cme?

Cboe Global Markets had a net margin of 23.3% in fiscal 2025; Cme had 62.5% in fiscal 2025.

Which grew revenue faster, Cboe Global Markets or Cme?

In their latest fiscal years revenue changed by +15.1% at Cboe Global Markets and +6.4% at Cme.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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