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CBO reported third-quarter net revenue up 18% to $712 million and adjusted diluted EPS up 36% to $3.63, extended its S&P license 25 years through 2051 and expects 2026 organic net revenue growth in the high teens.
Cboe Global Markets, Inc. reported third-quarter revenue of 1,358.8 million, up 19% from 2025, and net income of 428.2 million, up 42%, for the three months ended September 30, 2026.
Cboe Global Markets reported third-quarter 2026 net revenue of $712.2 million, up 18%, and diluted EPS of $4.08, up 43%. It raised organic revenue growth guidance to 'high teens' and lowered operating expense guidance to $830 to $845 million.
Cboe Global Markets entered an agreement with S&P Opco effective September 28, 2026 through December 31, 2051, extending exclusive U.S. S&P 500 options rights and cross-licenses for volatility, BuyWrite and variance indices; updated per-contract fees begin January 1, 2027.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Cboe reported record Q1 2026 results with net revenue up 29% to $728.9M and adjusted diluted EPS up 48% to $3.70, raised full-year organic total net revenue growth guidance to 'low double-digit to mid-teens' (from 'mid single-digit') and Data Vantage organic growth to 'low double-digit' (from 'mid to high single-digit'), and lowered 2026 adjusted operating expense guidance to $838–$853M while announcing additional strategic realignment actions expected to reduce workforce by ~20%.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
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| Adjusted Diluted EPS non-GAAP | $3.63 | third quarter of 2026 | — |
| Adjusted earnings non-GAAP | 1.14B | Nine Months Ended September 30, 2026 | — |
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| Adjusted EBITDA non-GAAP | 1.6B | Nine Months Ended September 30, 2026 | — |
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| Adjusted EBITDA Margin non-GAAP | 73.9% | Nine Months Ended September 30, 2026 | — |
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| Adjusted income before income taxes non-GAAP | 1.59B | Nine Months Ended September 30, 2026 | — |
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| Adjusted income tax rate non-GAAP | 27.9% | Nine Months Ended September 30, 2026 | — |
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| Adjusted Operating EBITDA non-GAAP | 1.59B | Nine Months Ended September 30, 2026 | — |
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| Adjusted Operating EBITDA Margin non-GAAP | 73.2% | Nine Months Ended September 30, 2026 | — |
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| Adjusted operating expenses non-GAAP | 621.6M | Nine Months Ended September 30, 2026 | — |
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| Adjusted operating income non-GAAP | 1.55B | Nine Months Ended September 30, 2026 | — |
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| Adjusted operating margin non-GAAP | 71.4% | Nine Months Ended September 30, 2026 | — |
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| ADNV traded on the Cboe FX platform | $61.1B | third quarter of 2026 | — |
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| ADV | 7% | third quarter of 2026 | — |
| ADV (in thousands) | 187.3K | 3Q 2026 | — |
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| ADV (matched shares, in millions) | 158.8M | 3Q 2026 | — |
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| ADV (touched shares, in millions) | 213.5M | 3Q 2026 | — |
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| average price | $266.17 | third quarter of 2026 | — |
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| Cboe Clear Europe net settlement volume | 4.23M | third quarter of 2026 | — |
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| EBITDA non-GAAP | 1.63B | Nine Months Ended September 30, 2026 | — |
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| EBITDA Margin non-GAAP | 74.9% | Nine Months Ended September 30, 2026 | — |
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| Fee per trade cleared (in Euros) | €0.01 | 3Q 2026 | — |
| Index options | 6.05M | 3Q 2026 | — |
| index options ADV | 24% | third quarter of 2026 | — |
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| multi-listed options ADV | 10% | third quarter of 2026 | — |
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| Net capture (per 10,000 shares, in Canadian dollars) | CAD 4.53 | 3Q 2026 | — |
| Net capture (per matched notional value (bps), in Euros) | €0.28 | 3Q 2026 | — |
| net capture rate per one million dollars traded | $2.91 | third quarter of 2026 | — |
| Net fee per settlement (in Euros) | €1.04 | 3Q 2026 | — |
| Net settlement volume (shares in thousands) | 4.23M | 3Q 2026 | — |
| off-exchange market share | 21.3% | third quarter of 2026 | — |
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| Operating EBITDA non-GAAP | 1.6B | Nine Months Ended September 30, 2026 | — |
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| Operating EBITDA Margin non-GAAP | 73.7% | Nine Months Ended September 30, 2026 | — |
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| shares repurchased | 211K | third quarter of 2026 | — |
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| Total Company Options ADV (in thousands) | 21.35M | 3Q 2026 | — |
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| Total industry ADNV (Euros - in billions) | 54.2B | 3Q 2026 | — |
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| Total industry ADV (in thousands) | 69.96M | 3Q 2026 | — |
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| Total industry ADV (shares in billions) | 16.9B | 3Q 2026 | — |
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| Total Options Market Share: | 30.5% | 3Q 2026 | — |
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| total options RPC | 9% | third quarter of 2026 | — |
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| Total share repurchases | $56.1M | FY2026 Q3 | — |
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| Trades cleared (in thousands) | 397.77M | 3Q 2026 | — |
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| Adjusted cash non-GAAP | $2.35B | As of June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Cash and cash equivalents 2.28B
+70.3M Cash and cash equivalents (included in assets held for sale)
+114.5M Financial investments
-40M Less deferred compensation plan assets
-74.2M Less cash collected for Section 31 Fees
= Adjusted Cash 2.35B
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| Adjusted diluted earnings per common share non-GAAP | $3.56 | Three months ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Diluted earnings per common share $3.35
+$0.21 Per share impact of non-GAAP adjustments noted above
= Adjusted diluted earnings per common share $3.56
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| ADNV (Australian dollars - in billions) | 1.1B | the three months ended June 30, 2026 filing | — |
| Canadian Equities ADV (matched shares, in millions) | 185.8M | 2Q 2026 | — |
| Canadian Equities total market share % | 13.1% | 2Q 2026 | — |
| Cboe European Equities market share | 24.4% | second quarter of 2026 | — |
| Cboe European equities matched ADNV | 13% | the three months ended June 30, 2026 filing | — |
| Cboe's U.S. Equities exchanges market share | 9.4% | second quarter of 2026 | — |
| Constant currency net revenue, Europe and APAC non-GAAP | $83M | second quarter of 2026 | — |
| European Equities market share cleared (11) | 40.2% | the three months ended June 30, 2026 filing | — |
| Fee per trade cleared (10) | $0.01 | the three months ended June 30, 2026 filing | — |
| Futures ADV (in thousands) | 222.7K | 2Q 2026 | — |
| Futures RPC | $1.66 | 2Q 2026 | — |
| Global FX ADNV | 8% | the three months ended June 30, 2026 filing | — |
| Index contract ADV | 6.2M | the three months ended June 30, 2026 filing | — |
| Index options RPC | $0.95 | 2Q 2026 | — |
| Market ADNV (Euros - in billions) | 63.4B | the three months ended June 30, 2026 filing | — |
| Market ADV | 72.8M | the three months ended June 30, 2026 filing | — |
| Market ADV (in billions) | 20.2B | the three months ended June 30, 2026 filing | — |
| Matched ADNV (Euros - in billions) (7) | 15.5B | the three months ended June 30, 2026 filing | — |
| Multi-listed contract ADV | 15.7M | the three months ended June 30, 2026 filing | — |
| Multi-listed options market share | 23.5% | 2Q 2026 | — |
| Multi-listed options RPC (2) | $0.06 | the three months ended June 30, 2026 filing | — |
| Net capture (per 10,000 touched shares, in Canadian dollars) (6) | CAD 4.36 | the three months ended June 30, 2026 filing | — |
| net capture per one hundred touched shares on Cboe U.S. equity exchanges | 50% | the three months ended June 30, 2026 filing | — |
| Net capture rate per one million dollars traded (Cboe FX) | $2.96 | second quarter of 2026 | — |
| Net fee per settlement (13) | $1.04 | the three months ended June 30, 2026 filing | — |
| Net transaction and clearing fees | $561.3M | Three months ended June 30, 2026 | — |
| RPC | $1.66 | the three months ended June 30, 2026 filing | — |
| Section 31 fee rate (average rate per million dollars of covered sales) | $19.95 | the three months ended June 30, 2026 filing | — |
| Share repurchase authorization availability remaining | $536.8M | June 30, 2026 | — |
| Total Options revenue per contract (RPC) (2) | $0.32 | the three months ended June 30, 2026 filing | — |
| Total touched contracts (1) | 21.9M | the three months ended June 30, 2026 filing | — |
| U.S. Equities - Exchange (net capture per one hundred touched shares) (3) | $0.02 | the three months ended June 30, 2026 filing | — |
| U.S. Equities - Off-Exchange (net capture per one hundred touched shares) (4) | $0.06 | the three months ended June 30, 2026 filing | — |
| U.S. Equities - Off-Exchange ADV (touched shares, in millions) | 237.5M | 2Q 2026 | — |
| U.S. ETPs: launches (number of launches) | 288 | the three months ended June 30, 2026 filing | — |
| U.S. ETPs: listings (number of listings) | 1,468 | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CBOE
this stock
Cboe Global Markets, Inc.
|
$39.17B | +49.6% | +217.0% | 26.7 | 2.0% |
|
SPGI
S&P Global Inc.
|
$137.29B | — | +7.1% | 29.7 | 1.5% |
|
CME
Cme Group Inc.
|
$113.81B | +16.4% | +6.4% | 26.1 | 1.5% |
|
ICE
Intercontinental Exchange, Inc.
|
$99.76B | +10.2% | -2.1% | 24.4 | 1.1% |
|
MCO
Moodys Corp
|
$87.61B | -0.5% | +16.6% | 31.0 | 1.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Cboe Global Markets, Inc. reported third-quarter revenue of 1,358.8 million, up 19% from 2025, and net income of 428.2 million, up 42%, for the three months ended September 30, 2026.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CBOE | +6.3% | +19.2% | +5.9% | +11.9% | +49.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +3.7% | +20.4% | +5.4% | +12.1% | +39.0% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
