Filing Flows › Cboe Global Markets (CBOE) › Q1 2026
Cboe Global Markets (CBOE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Cboe Global Markets (CBOE) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +7% from a year earlier and +6% from the quarter before. Operating margin was 39.7%, net earnings $386M (30.3% of revenue).
Cboe Global Markets, Q1 2026: revenue $1.3B (+6% year over year), operating margin 39.7%, net earnings $386M, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +6% | +7% |
| Gross profit | $729M | +9% | +29% |
| Operating profit | $506M | +25% | +43% |
| Net earnings | $386M | +23% | +54% |
| Operating cash flow | $2.0B | +457% | +115% |
| Free cash flow | $1.9B | +484% | +116% |
What changed
Revenue was $1.3B in Q1 2026, up 7% year over year and up 6% from the previous quarter. Transaction and clearing fees was the largest line at 81% of revenue. Transaction and clearing fees added $0.19B year over year (up 23%), 249% of the total change. Regulatory fees declined 94%.
Gross margin was 57.3%, up 10.0 points from Q1 2025. Operating profit was $0.51B, a 39.7% margin (up 10.1 points year over year). Of the extra revenue versus Q1 2025, 195% reached operating profit, above the 30% margin then. Operating expenses grew 6% against revenue growth of 7%. Net earnings were $0.39B, up 54% year over year. The effective tax rate was 25.2%.
Operating cash flow was $2.0B (up 115% year over year), 508% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $1.5B. Capital expenditures of $0.02B left free cash flow of $1.9B.
Questions
What was Cboe Global Markets' revenue in the first quarter 2026?
Cboe Global Markets (CBOE) reported revenue of $1.3B for the first quarter 2026 (Q1 2026), +7% from a year earlier and +6% from the quarter before.
Was Cboe Global Markets profitable in the first quarter 2026?
Operating profit was $506M (39.7% of revenue) and net earnings $386M.