CBOE Cboe Global Markets margins

Relative Growth: Rel. Growth: 95

Relative Strength: Rel. Strength: 87

Relative Valuation: Rel. Valuation: 47

Relative Profitability: Rel. Profitability: 95

Gross margin

53.9%

Operating margin

35%

EBITDA margin

41.4%

Net margin

28%

Using the latest TTM figures, Cboe Global Markets shows a gross margin of 53.9%, an operating margin of 35%, an EBITDA margin of 41.4%, and a net margin of 28%. EBITDA margin had the largest improvement, increasing by 7.4 percentage points, while the other available margins also improved.

CBOE margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Cboe Global Markets recorded average margins of 51.55% gross, 29.94% operating, 35.01% EBITDA, and 21.98% net. The current gross, operating, EBITDA, and net margins are all above their three-year averages.

CBOE margin expansion

Year-over-year margin changes in percentage points

The biggest expansion was in EBITDA margin, which rose by 7.4 percentage points. The other available margins also improved.

Gross margin expansion

4.5pp

Operating margin expansion

5.5pp

EBITDA margin expansion

7.4pp

Net margin expansion

6.7pp

CBOE Gross margin

Cboe Global Markets recorded an average gross margin of 51.55% across the last 3 years. Cboe Global Markets currently reports a gross margin of 53.9%, 2.4 percentage points above its three-year average. Gross margin was highest at 54.1% in Jun 2026 and lowest at 48.7% in Jun 2025.

CBOE Operating margin

Over the last 3 years, Cboe Global Markets had an average operating margin of 29.94%. Against its three-year average, Cboe Global Markets's operating margin is currently 35%, 5.1 percentage points above its three-year average. Looking back over the last 3 years, Cboe Global Markets's operating margin reached 35% at its highest point in Sep 2026 and 26.8% at its lowest in Dec 2024.

CBOE EBITDA margin

The average EBITDA margin for Cboe Global Markets was 35.01% over the last 3 years. As of the latest period, the current EBITDA margin for Cboe Global Markets is 41.4%, 6.4 percentage points above its three-year average. The EBITDA margin for Cboe Global Markets moved between 30.5% in Mar 2025 and 41.4% in Sep 2026.

CBOE Net margin

Reviewing the last 3 years, Cboe Global Markets recorded an average net margin of 21.98%. Cboe Global Markets currently reports a net margin of 28%, 6 percentage points above its three-year average. The highest net margin for Cboe Global Markets was 28% in Sep 2026, while the lowest was 18.6% in Mar 2025.

CBOE margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 53.9%, CBOE stands lower than the Financial Services sector, the industry and its peers average. Looking at the Financial Services sector average of 83.5%, Cboe Global Markets's gross margin is 35% lower.

CBOE margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Cboe Global Markets's gross margin?

The current gross margin for CBOE is 53.9% as of Sep 30, 2026.

What is Cboe Global Markets's operating margin?

The current operating margin for CBOE is 35% as of Sep 30, 2026.

What is Cboe Global Markets's EBITDA margin?

For the period ending Sep 30, 2026, CBOE recorded an EBITDA margin of 41.4%.

What is Cboe Global Markets's net margin?

The current net margin for CBOE is 28% as of Sep 30, 2026.

What are the average margins of CBOE?

Looking back over 3 years, CBOE recorded average margins of 51.6% gross, 29.9% operating, 35.0% EBITDA, and 22.0% net.

What are the highest historical margins of CBOE?

Over the last 5 years, Cboe Global Markets's highest margins were 54.1% gross in Jun 2026, 35% operating in Sep 2026, 41.4% EBITDA in Sep 2026, and 28% net in Sep 2026.

What are the lowest historical margins of CBOE?

Over this 5-year history, Cboe Global Markets's margins fell as low as 42.2% gross in Dec 2021, 11.4% operating in Jun 2022, 15.6% EBITDA in Jun 2022, and 5.8% net in Jun 2022.