Cboe Global Markets Inc. (CBOE) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$314.25 -1.93% CBOE • Public Delayed / 60s Snapshot

Cboe Global Markets Inc. (CBOE) carries a Roarable Rating of C+ (Hold) with 68/100 RQD Confidence. The underlying business is intact, so current owners don’t need to panic-sell—but mixed big-money flow or rich pricing means new buyers can afford to wait for either a pullback or a B-or-higher upgrade.

ROARABLE C+ • HOLD / WATCH Cap $35.14B
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
RQD QUANT TACHOMETERHOLD / WATCH • C+
025507510068
JEV AI Jury Split (Battleground)
Cash
SEC
Whale
5-PILLAR SNOWFLAKE RADARRw C+ · Rk C+
Cash (19)Whales (10)SEC (13)Macro (14)CEO (12)
Each axis scored 0–20
12M PRICE TARGET CONE+4.5% Base Target
$390 Bull$328 Base$256 Bear
🔴 SUNDAY NIGHT PREP • 7:00 PM ET
WHALE OPTIONS TUG-OF-WAR:54% Call Buyers ($3.4M)
46% PutsMax Pain: $308.00
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How CBOE Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$1.68B (35.7% FCF Margin)
Revenue$4.71BGross Profit $2.43B (51.5%)Cost of Sales $2.29BOp Profit $1.47B (31.1%)OpEx (R&D/SG&A) $962.0MNet Profit$1.10B (23.3%)Tax/Other $367.1M

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $4.71B
FY24
Rev $4.09B
FY25
Rev $4.71B
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$4.71B51.5%31.1%$1.10B$1.68B26.6%
FY 2024$4.09B50.6%26.8%$764.9M$1.04B18.1%
FY 2023$4.71B0%22.4%$761.4M$1.08B7.2%
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  • ✓Live walkthrough of CBOE's RQD Radar, SEC cash-conversion gap & downside levels
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RQD INSIDER CLUB UPGRADE$49/YEAR
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CBOE // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +11.81%▲ RESISTANCE BREAKOUT
2026-10-30O $323.0H $342.9L $320.0C $335.5VOL 2.46M
RES: $282.9SUP: $234.6SMA50: $294.6SMA200: $292.5
$381.3$339.5$297.7$256.0$214.2RES $282.9SUP $234.6$335.52026-04-302026-06-152026-07-312026-09-162026-10-30
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

CBOE Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)
24.6%/yr Implied 5Y Growth

vs. +15.4% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on CBOE today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for CBOE. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for CBOE today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

CBOE Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is Cboe Global Markets Inc. (CBOE)?

In FY 2025 (10-K), CBOE converted $4.7B of revenue into a 51.5% gross margin, 31.1% operating margin, and $1.7B in free cash flow (35.7% FCF margin).