Cboe Global Markets (BATS:CBOE) Posts Earnings Results, Beats Expectations By $0.20 EPS

Posted by Brenda Bartman on Oct 30th, 2026

Cboe Global Markets (BATS:CBOE – Get Free Report) announced its earnings results on Friday. The company reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.20, Zacks reports. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. During the same period in the prior year, the firm earned $2.67 earnings per share. Cboe Global Markets’s quarterly revenue was up 17.6% on a year-over-year basis.

Here are the key takeaways from Cboe Global Markets’ conference call:

Strong third-quarter performance: Net revenue rose 18% year over year to $712 million, adjusted diluted EPS increased 36% to $3.63, and adjusted EBITDA margin expanded to 73.3%. Growth was broad-based, with double-digit revenue gains across major categories.
Derivatives momentum remained robust: Index options volume increased 24%, led by record SPX 0DTE activity, stronger retail participation, international trading growth and rising Mini-SPX volumes. Management sees further upside from extended hours, international distribution and institutional demand.
Long-term strategic foundation strengthened: Cboe extended its exclusive S&P Dow Jones Indices licensing agreement through 2051, with management expecting the 2027 royalty reset to have a de minimis impact on revenue growth. The company also expanded clearing capabilities and plans to launch company KPI event contracts in November.
2026 outlook was raised: Organic total net revenue growth is now expected to be in the high-teens range, up from prior mid-to-high-teens guidance, while DataVantage organic growth was raised to the mid-teens. Adjusted operating expense guidance was reduced to $830 million-$845 million.
Capital returns and balance-sheet flexibility remain substantial: Cboe returned $146 million to shareholders during the quarter and added $550 million to its share-repurchase authorization, bringing total available capacity to approximately $1 billion. Adjusted cash stood at $2.7 billion, with leverage at 0.7 times.

Cboe Global Markets Stock Up 7.7%

Cboe Global Markets stock traded up $24.08 during trading on Friday, reaching $338.33. 1,689,030 shares of the company’s stock were exchanged, compared to its average volume of 1,132,058. The firm has a market cap of $35.88 billion, a price-to-earnings ratio of 174.31 and a beta of 0.61. The company’s 50-day moving average is $293.78 and its two-hundred day moving average is $291.49. Cboe Global Markets has a 52-week low of $227.15 and a 52-week high of $371.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

Cboe Global Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, November 30th. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Cboe Global Markets declared that its board has authorized a stock repurchase plan on Thursday, October 22nd that permits the company to buy back $550 million in shares. This repurchase authorization permits the company to purchase up to 1.6% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its stock is undervalued.

Key Cboe Global Markets News

Here are the key news stories impacting Cboe Global Markets this week:

Positive Sentiment: Cboe reported third-quarter adjusted earnings of $3.63 per share, exceeding the $3.43 analyst consensus and rising from $2.67 a year earlier. Revenue increased 17.6% year over year. CBOE Global Q3 Earnings and Revenues Top Estimates
Positive Sentiment: Record options activity was the primary growth driver. A surge in options volume, including strong zero-days-to-expiration trading, helped produce a reported 23% increase in options revenue. Cboe Global Markets Q3 2026: Record 0DTE Volume Drives a 23% Options Revenue Surge
Positive Sentiment: Management raised its 2026 revenue-growth outlook, signaling confidence that derivatives activity and Data Vantage revenue growth can continue supporting results. The improved guidance was a key catalyst for the stock’s advance. Cboe Lifts Outlook as 3Q Profit, Revenue Rise
Neutral Sentiment: The earnings beat was broad enough to reinforce Cboe’s growth narrative, but investors will likely monitor whether unusually strong trading volumes remain elevated and whether the higher outlook is sustainable.
Negative Sentiment: JPMorgan raised its price target to $332 but retained an “underweight” rating. The target remained below the prevailing share price, suggesting the bank views the stock as fully valued or vulnerable to a pullback. Cboe Global Markets Stock Gets Price Target Increase from JPMorgan

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBOE shares. Loop Capital set a $332.00 price target on Cboe Global Markets in a report on Wednesday. Piper Sandler dropped their target price on Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Zacks Research lowered shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Cboe Global Markets in a research note on Monday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $450.00 price target on shares of Cboe Global Markets in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cboe Global Markets has a consensus rating of “Hold” and a consensus target price of $333.27.

Read Our Latest Analysis on CBOE

Insider Buying and Selling

In other Cboe Global Markets news, Director Janet Froetscher sold 937 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $278.95, for a total value of $261,376.15. Following the transaction, the director owned 12,870 shares of the company’s stock, valued at $3,590,086.50. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Cboe Global Markets Company Profile

(Get Free Report)

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.

Earnings History for Cboe Global Markets (BATS:CBOE)

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