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CME Group vs Cboe Global Markets: CME and CBOE compared
CME Group is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.4B for Cboe Global Markets (Q3 2026). Cboe Global Markets is growing faster (+19% against +13% a year earlier). CME Group is more profitable, with an operating margin of 65.7% against 39.3%.
Where the money goes: CME and CBOE
CME Group (CME) · Q3 2026
CME Group, Q3 2026: revenue $1.7B (+13% year over year), operating margin 65.7%, net earnings $1.0B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Cboe Global Markets (CBOE) · Q3 2026
Cboe Global Markets, Q3 2026: revenue $1.4B (+19% year over year), operating margin 39.3%, net earnings $428M, operating cash flow $817M. The chart follows the revenue to costs, profit and cash.
| CME Group (CME) | Cboe Global Markets (CBOE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.7B | $1.4B |
| Revenue growth, Y/Y | +13% | +19% |
| Gross margin | — | 52.4% |
| Operating margin | 65.7% | 39.3% |
| Net earnings | $1.0B | $428M |
| Net margin | 59.7% | 31.5% |
| Operating cash flow | $1.1B | $817M |
| Free cash flow | $1.1B | $793M |
| Market value | $110.1B | $37.1B |
| P/E | 25.2× | 25.2× |
| Analysts’ mean target | $317.06 | $355.60 |
Where the revenue comes from
CME Group
- Clearing and transaction fees: $1.4B (79%)
- Market data and information services: $243M (14%)
- Other: $116M (7%)
Cboe Global Markets
- Options: $733M (54%)
- North American Equities: $462M (34%)
- Europe and Asia Pacific: $103M (8%)
- Futures: $30.9M (2%)
Questions
Which is bigger, CME Group or Cboe Global Markets?
CME Group is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.4B for Cboe Global Markets (Q3 2026).
Is CME Group or Cboe Global Markets growing faster?
Cboe Global Markets is growing faster (+19% against +13% a year earlier).
Which is more profitable, CME Group or Cboe Global Markets?
CME Group is more profitable, with an operating margin of 65.7% against 39.3%.
More: CME Group earnings · how CME Group makes money · Cboe Global Markets earnings · how Cboe Global Markets makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 23, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.