Filing Flows › CME Group (CME) › Q4 2025
CME Group (CME) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
CME Group (CME) reported revenue of $1.6B for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +7% from the quarter before. Operating margin was 61.8%, net earnings $1.2B (71.7% of revenue).
CME Group, Q4 2025: revenue $1.6B (+8% year over year), operating margin 61.8%, net earnings $1.2B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +7% | +8% |
| Operating profit | $1.0B | +5% | +8% |
| Net earnings | $1.2B | +30% | +35% |
| Operating cash flow | $1.1B | +17% | +11% |
| Free cash flow | $1.1B | +16% | +11% |
What changed
Revenue was $1.6B in Q4 2025, up 8% year over year and up 7% from the previous quarter. Clearing and Transaction Fees was the largest line at 81% of revenue.
Operating profit was $1.0B, a 61.8% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 59% reached operating profit, below the 62% margin then. Total costs grew 9% against revenue growth of 8%. Net earnings were $1.2B, up 37% year over year. The effective tax rate was 25.1%. Non-operating items added $0.56B, 35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.1B (up 11% year over year), 96% of net earnings. Non-cash charges added back $0.03B of share-based compensation. Working capital and other items used $0.08B. Capital expenditures of $0.03B left free cash flow of $1.1B.
Questions
What was CME Group's revenue in the fourth quarter 2025?
CME Group (CME) reported revenue of $1.6B for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +7% from the quarter before.
Was CME Group profitable in the fourth quarter 2025?
Operating profit was $1.0B (61.8% of revenue) and net earnings $1.2B.
Source: CME Group 10-K on SEC EDGAR.