financial statements

The full income statement, balance sheet, and cash-flow statement for Cboe Global Markets Inc. (CBOE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live CBOE chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	4.71B YoY+15.1%	4.09B YoY+8.5%	3.77B YoY-4.7%	3.96B YoY+13.3%	3.49B YoY+2.0%
	2.43B YoY+17.2%	2.07B YoY+8.1%	1.92B YoY+10.1%	1.74B YoY+18.0%	1.48B YoY+17.7%
Cost of revenue	2.29B YoY+13.0%	2.02B YoY+9.0%	1.86B YoY-16.3%	2.22B YoY+9.8%	2.02B YoY-7.1%
	962M YoY-1.2%	974M YoY+13.2%	860M YoY-31.3%	1.25B YoY+86.8%	670M YoY+13.2%
Amortization of intangibles	70.2M YoY-20.9%	88.7M YoY-23.9%	117M YoY-6.2%	124M YoY-1.8%	127M YoY+1.4%
Operating income	1.47B YoY+33.6%	1.10B YoY+3.8%	1.06B YoY+116.1%	490M YoY-39.2%	806M YoY+21.7%
Interest expense	52.3M YoY+1.6%	51.5M YoY-17.5%	62.4M YoY+4.0%	60.0M	—
Interest & investment income	49.4M YoY+81.0%	27.3M YoY+127.5%	12.0M YoY+233.3%	3.60M YoY+500.0%	600K YoY-45.5%
Other non-operating income	9.60M YoY+149.5%	-19.4M YoY-3333.3%	600K YoY+108.0%	-7.50M YoY-120.6%	-3.40M YoY-109.5%
Equity-method income	84.2M YoY+217.7%	26.5M YoY-28.2%	36.9M YoY+778.6%	4.20M YoY+1150.0%	-400K YoY-136.4%
Pre-tax income	1.57B YoY+44.5%	1.08B YoY+3.5%	1.05B YoY+142.0%	433M YoY-42.7%	756M YoY+14.5%
Income tax	467M YoY+46.3%	319M YoY+11.4%	286M YoY+44.6%	198M YoY-12.9%	227M YoY+18.2%
	1.10B YoY+43.8%	765M YoY+0.5%	761M YoY+224.0%	235M YoY-55.6%	529M YoY+13.0%
Net income to common	1.09B YoY+43.9%	761M YoY+0.5%	758M YoY+223.6%	234M YoY-55.6%	527M YoY+12.9%
	$10.42 YoY+44.5%	$7.21 YoY+1.1%	$7.13 YoY+225.6%	$2.19 YoY-55.5%	$4.92 YoY+15.2%
EPS (basic)	$10.46 YoY+44.5%	$7.24 YoY+1.1%	$7.16 YoY+225.5%	$2.20 YoY-55.4%	$4.93 YoY+15.2%
Weighted-avg shares (basic)	105M YoY-0.4%	105M YoY-0.7%	106M YoY-0.5%	106M YoY-0.7%	107M YoY-1.9%
Weighted-avg shares (diluted)	105M YoY-0.4%	106M YoY-0.7%	106M YoY-0.5%	107M YoY-0.5%	107M YoY-1.9%
Dividends per share	$2.70 YoY+14.4%	$2.36 YoY+12.4%	$2.10 YoY+7.1%	$1.96 YoY+8.9%	$1.80 YoY+15.4%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.42B YoY+78.3%	2.48B YoY+25.3%	1.98B YoY+27.2%	1.56B YoY+1.6%	1.53B YoY-2.3%
Cash & equivalents	2.22B YoY+140.8%	920M YoY+69.4%	543M YoY+25.5%	433M YoY+26.6%	342M YoY+39.3%
Short-term investments	36.1M YoY-67.3%	110M YoY+91.8%	57.5M YoY-37.3%	91.7M YoY+147.2%	37.1M YoY-59.8%
Accounts receivable	391M YoY-12.0%	445M YoY+31.8%	337M YoY-8.8%	370M YoY+13.1%	327M YoY-3.1%
Other current assets	91.3M YoY+7.9%	84.6M YoY+26.8%	66.7M YoY+40.1%	47.6M YoY+29.3%	36.8M YoY+38.9%
	9.31B YoY+19.5%	7.79B YoY+4.0%	7.49B YoY+7.0%	7.00B YoY+2.7%	6.81B YoY+4.6%
Property, plant & equipment	133M YoY+12.8%	118M YoY+8.1%	109M YoY+0.9%	108M YoY+2.9%	105M YoY+27.4%
Operating lease right-of-use	111M YoY-10.8%	125M YoY-8.9%	137M YoY+22.3%	112M YoY+1.5%	110M YoY-0.8%
Goodwill	3.15B YoY+0.8%	3.12B YoY-0.5%	3.14B YoY+0.6%	3.12B YoY+3.2%	3.03B YoY+4.5%
Intangible assets	1.30B YoY-5.8%	1.38B YoY-11.8%	1.56B YoY-6.1%	1.66B YoY-0.3%	1.67B YoY-3.5%
Deferred tax assets	0.00	0.00	0.00	0.00	0.00
Other non-current assets	160M YoY-12.6%	183M YoY-11.4%	206M YoY+13.4%	182M YoY+44.6%	126M YoY+64.9%
	2.36B YoY+69.3%	1.40B YoY+0.9%	1.38B YoY-6.3%	1.48B YoY+26.3%	1.17B YoY-11.0%
Accounts payable	16.1M YoY-10.1%	17.9M YoY-27.5%	24.7M YoY-10.2%	27.5M YoY+41.0%	19.5M YoY-31.6%
Accrued liabilities	687M YoY+91.0%	360M YoY-12.8%	413M YoY-1.8%	420M YoY+42.2%	295M YoY+18.2%
Deferred revenue	6.90M YoY+7.8%	6.40M YoY+8.5%	5.90M YoY-49.6%	11.7M YoY-23.0%	15.2M YoY+49.0%
Short-term & current debt	0.00 YoY-100.0%	74.9M YoY+0.0%	74.9M YoY-75.4%	305M YoY+521.8%	49.0M YoY-28.7%
Current lease liability	26.9M YoY+35.2%	19.9M YoY-4.3%	20.8M YoY+13.7%	18.3M YoY+17.3%	15.6M YoY+24.8%
Other current liabilities	6.57M YoY+0.0%	6.57M YoY+0.0%	6.57M YoY+0.0%	6.57M YoY+0.0%	6.57M YoY+0.0%
	4.17B YoY+18.7%	3.51B YoY+0.2%	3.50B YoY-0.9%	3.53B YoY+10.1%	3.21B YoY+1.3%
Long-term debt	1.44B YoY+0.1%	1.44B YoY+0.1%	1.44B YoY+0.1%	1.44B YoY+10.6%	1.30B YoY+14.5%
Non-current lease liability	121M YoY-12.6%	138M YoY-8.2%	151M YoY+16.6%	129M YoY+0.1%	129M YoY-2.2%
Deferred tax liabilities	185M YoY-0.8%	187M YoY-14.2%	218M YoY-2.3%	223M YoY-40.2%	373M YoY-1.3%
Other non-current liabilities	39.8M YoY-7.7%	43.1M YoY-36.1%	67.5M YoY+21.0%	55.8M YoY+61.3%	34.6M YoY+27.2%
Total non-current liabilities	2.33B YoY+0.0%	2.33B YoY+0.0%	2.33B YoY+0.0%	2.33B YoY+0.0%	2.33B YoY+0.0%
	5.14B YoY+20.1%	4.28B YoY+7.4%	3.98B YoY+15.0%	3.47B YoY-3.9%	3.60B YoY+7.6%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.00M YoY+0.0%	1.00M YoY-9.1%	1.10M YoY+0.0%	1.10M YoY+0.0%	1.10M YoY-8.3%
Additional paid-in capital	1.57B YoY+3.5%	1.51B YoY+2.3%	1.48B YoY+1.6%	1.46B YoY-3.6%	1.51B YoY-44.4%
Retained earnings	3.54B YoY+25.8%	2.82B YoY+11.5%	2.53B YoY+16.3%	2.17B YoY+1.2%	2.15B YoY+18.5%
Treasury stock	1.50M YoY+7.1%	1.40M YoY-86.7%	10.5M YoY-92.0%	131M YoY+22.7%	107M YoY-91.5%
Accumulated other comprehensive income	30.1M YoY+162.2%	-48.4M YoY-414.9%	-9.40M YoY+69.7%	-31.0M YoY-155.8%	55.6M YoY-25.9%
Total equity incl. non-controlling	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%	318M YoY+0.0%
Total liabilities & equity	9.31B YoY+19.5%	7.79B YoY+4.0%	7.49B YoY+7.0%	7.00B YoY+2.7%	6.81B YoY+4.6%
Common shares issued	105M YoY-0.0%	105M YoY-0.8%	106M YoY-2.0%	108M YoY-0.5%	108M YoY-14.2%
Common shares outstanding	105M YoY-0.0%	105M YoY-0.8%	106M YoY-0.4%	106M YoY-0.7%	107M YoY-0.6%
Shares outstanding (cover)	105M YoY-0.0%	105M YoY-0.8%	106M YoY-0.5%	106M YoY-0.5%	107M YoY-1.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.75B YoY+59.2%	1.10B YoY+2.3%	1.08B YoY+65.2%	651M YoY+9.1%	597M YoY-59.1%
Depreciation & amortization	122M YoY-8.0%	133M YoY-15.8%	158M YoY-5.3%	167M YoY-0.4%	167M YoY+5.6%
Share-based compensation	50.4M YoY+20.6%	41.8M YoY+1.2%	41.3M YoY+34.5%	30.7M YoY+15.4%	26.6M YoY+22.6%
Deferred income taxes	-8.40M YoY+64.4%	-23.6M YoY-55.3%	-15.2M YoY+90.2%	-156M YoY-723.8%	-18.9M YoY+38.8%
Change in receivables	-79.4M YoY-163.9%	124M YoY+415.5%	-39.4M YoY-179.1%	49.8M YoY+515.0%	-12.0M YoY-113.3%
	450M YoY+417.5%	-142M YoY-157.4%	-55.1M YoY+93.4%	-835M YoY-136.8%	-353M YoY+18.1%
Capital expenditure	71.0M YoY+16.6%	60.9M YoY+35.3%	45.0M YoY-24.7%	59.8M YoY+17.3%	51.0M YoY+7.6%
Acquisitions	—	0.00	0.00 YoY-100.0%	708M YoY+367.5%	152M YoY-56.9%
Sales/maturities of investments	248M YoY+265.4%	67.9M YoY-50.0%	136M YoY+165.0%	51.2M YoY-68.0%	160M YoY-20.9%
Proceeds from sale of PP&E	0.00 YoY-100.0%	700K	0.00	0.00	—
	-372M YoY+24.9%	-495M YoY+24.6%	-656M YoY-903.1%	81.7M YoY+140.8%	-200M YoY+0.7%
Long-term debt issued	—	0.00	0.00 YoY-100.0%	664M YoY+503.3%	110M YoY-77.7%
Long-term debt repaid	0.00	0.00 YoY-100.0%	305M YoY+38.6%	220M YoY+1000.0%	20.0M YoY-87.1%
Common stock repurchased	66.7M YoY-67.4%	205M YoY+144.1%	83.9M YoY-16.8%	101M YoY+24.1%	81.3M YoY-76.7%
Dividends paid	284M YoY+14.0%	249M YoY+11.6%	224M YoY+6.7%	209M YoY+8.3%	193M YoY+13.3%
Net change in cash	2.10B YoY+470.4%	369M YoY-11.6%	417M YoY+471.5%	-112M YoY-423.6%	34.7M YoY-95.8%
Interest paid	91.7M YoY-8.4%	100M YoY+76.5%	56.7M YoY+11.2%	51.0M YoY+21.1%	42.1M YoY+44.2%
Income taxes paid	392M YoY+8.1%	362M YoY+26.5%	286M YoY+5.6%	271M YoY+29.2%	210M YoY+9.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	26.3B YoY+28.4%	20.5B YoY+8.5%	18.8B YoY+41.6%	13.3B YoY-4.3%	13.9B YoY+38.2%
P/E	23.9× YoY-10.7%	26.7× YoY+0.6%	26.6× YoY-51.8%	55.2× YoY+109.9%	26.3× YoY+22.3%
P/S	5.6× YoY+11.5%	5.0× YoY+1.0%	4.9× YoY+42.0%	3.5× YoY-12.5%	4.0× YoY+35.5%
P/B	5.1× YoY+6.9%	4.8× YoY-3.9%	5.0× YoY+23.1%	4.0× YoY+4.7%	3.9× YoY+28.4%
P/FCF	15.6× YoY-20.6%	19.7× YoY+11.3%	17.7× YoY-92.0%	221.8× YoY+770.5%	25.5× YoY+257.4%
Earnings yield	4.2% YoY+12.0%	3.7% YoY-0.6%	3.8% YoY+107.6%	1.8% YoY-52.4%	3.8% YoY-18.3%
FCF yield	6.4% YoY+26.0%	5.1% YoY-10.1%	5.7% YoY+1154.5%	0.5% YoY-88.5%	3.9% YoY-72.0%
Dividend yield	1.1% YoY-10.9%	1.2% YoY+2.7%	1.2% YoY-24.7%	1.6% YoY+13.2%	1.4% YoY-17.6%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: CBOE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CBOE filings on SEC EDGAR → Not investment advice.

CBOE▼ financial statements

About this data

financial statements