What is the 13F Pro Quality Score for CBOE?

13F Pro ranks Cboe Global Markets, Inc. (CBOE) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CBOE's current score at https://13fpro.ai/company/CBOE (free sign-up required for the full ranking).

Where does 13F Pro source CBOE data?

All Cboe Global Markets, Inc. fundamentals and ownership data come directly from SEC EDGAR. Cboe Global Markets, Inc. files with the SEC under CIK 1374310. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CBOE in?

Cboe Global Markets, Inc. (CBOE) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives CBOE's revenue?

Per Cboe Global Markets, Inc.'s latest 10-Q filed with the SEC on 2026-07-31, the biggest revenue drivers are: Options ($743.1M, +29% YoY); North American Equities ($520.0M, +18% YoY); Europe and Asia Pacific ($117.8M, +19% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/CBOE.

What are CBOE's largest expenses?

Cboe Global Markets, Inc.'s latest 10-Q reports these as the largest expense items: Total cost of revenues ($711.2M, +21% YoY); Compensation and benefits ($154.7M, +21% YoY); Depreciation and amortization ($28.1M, -6% YoY). Sourced directly from SEC EDGAR filing text for Q2 2026 (quarter ended June 30, 2026).

How often is CBOE research updated on 13F Pro?

CBOE's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Cboe Global Markets, Inc.(CBOE)Stock Analysis

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13F Pro Quality Score

79.2/100

Rank #45 of 2,961 stocksTOP 5%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

74.1/100

Profitability

88.2/100

Balance Sheet

90.2/100

Earnings Quality

69.2/100

Free Cash Flow

89.5/100

Institutional Flow

75.9/100

Revenue Scale

78.0/100

Dilution Risk

55.0/100

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Why CBOE Scores 79/100

exact factor attribution · 2026-09-11

CBOE's composite is driven by profitability and revenue growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+7.6 pts

88th pct

Revenue growth

+6.4 pts

74th pct

Free cash flow

+5.9 pts

90th pct

Scale

+5.6 pts

78th pct

Capital efficiency

+5.4 pts

90th pct

Earnings growth

+2.1 pts

82th pct

Earnings quality

+1.9 pts

69th pct

Institutional flow

+1.7 pts

76th pct

Shareholder dilution

+0.3 pts

55th pct

Latest change (2026-07-31): 81 → 72 · ↓ Free cash flow 95→51; ↓ Revenue growth 71→59

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in CBOE

Events flagged as statistical outliers against CBOE's own multi-year baseline — not fixed dollar thresholds.

Score shock2026-07-31
CBOE quality score dropped 9 points (81→72) on a new filing
View source filing →

CBOE Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Cboe Global Markets, Inc. (CBOE), a Financials sector company. 13F Pro's AI-powered ranking engine scores CBOE at 79.2/100 on a 32-signal composite quality model, placing it at rank #45 of 2,961 stocks — the top 5% of the AI-ranked universe. CBOE scores in the top quartile across balance sheet strength (90.2), free cash flow (89.5), profitability (88.2). Based on the latest XBRL financial filings (Q2 2026), Cboe Global Markets, Inc. reports quarterly revenue of $1.4B, net income of $353.1M, an operating margin of 33.3%. Top institutional holders of CBOE by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. CBOE trades on the CBOE exchange and files with the SEC under CIK 1374310. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CBOE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Cboe Global Markets, Inc. directly from SEC EDGAR. Cboe Global Markets, Inc.'s 13F Pro composite quality score has ranged between 72 and 79 since 2026, currently 79.2 — an improving long-term trajectory across 48 quarterly and live scoring snapshots.

✦

Fun facts about Cboe Global Markets, Inc.

Quirks, history, and lore behind CBOE — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial exchange operator · large-cap · listed on Nasdaq · headquartered in Chicago, Illinois.
2
The Numbers
Annual revenue in the low-to-mid single-digit billions, driven almost entirely by trading volume fees and market-data subscriptions — when volatility spikes, so does the business.
3
The History
Founded in 1973 as the first U.S. marketplace dedicated to listed options trading, it was a pioneer in turning derivatives from an obscure tool into a mainstream financial instrument.
4
The Secret
It owns and operates multiple stock and options exchanges across the U.S. and Europe — including venues in the UK and Netherlands — making it a quietly global powerhouse few consumers have ever heard of.
5
The Lore
It created the VIX — the so-called 'Fear Index' — which measures expected market volatility and is now one of the most-watched numbers on Wall Street every single day.
6
The Giveaway
When traders panic, this Chicago exchange giant's business booms — because it invented the VIX and runs the world's largest options exchange bearing its own three-letter name.

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What's Driving CBOE's Business? Latest 10-Q Breakdown

✓ 50/50 datapoints verified

AI-extracted from Cboe Global Markets, Inc.'s 10-Q filed 2026-07-31 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Total revenue rose 23% to $1,442.8M as index options ADV jumped 32% and the Section 31 fee rate reset higher, lifting operating income 40% to $476.0M.

Biggest Revenue Drivers

Options$743.1M+29% YoY

32% increase in index options ADV and 24% increase in multi-listed options ADV

North American Equities$520.0M+18% YoY

Pricing changes on Cboe U.S. equity exchanges lifted net capture per hundred touched shares 50%

Biggest Revenue Drivers

Total revenue: $1,442.8M+23% YoY

Options$743.1M+29% YoY

32% increase in index options ADV and 24% increase in multi-listed options ADV

North American Equities$520.0M+18% YoY

Pricing changes on Cboe U.S. equity exchanges lifted net capture per hundred touched shares 50%

Europe and Asia Pacific$117.8M+19% YoY

13% increase in Cboe European equities matched ADNV and 21% rise in Cboe Clear Europe net settlement volume

Futures$33.4M+3% YoY

Increase in market data fees; ADV up 1% with RPC down 2%

Global FX$28.5M+17% YoY

8% increase in ADNV and higher net capture per million dollars traded

Largest Expense Items

Total cost of revenues$711.2M+21% YoY

Higher Section 31 regulatory fee rate plus liquidity payments of $453.7M on greater multi-listed options ADV

Compensation and benefits$154.7M+21% YoY

$19.2M increase in severance tied to strategic realignment and $4.0M higher accrued bonuses

Depreciation and amortization$28.1M-6% YoY

Declining amortization on intangibles acquired in the Merger

Technology support services$26.2M-2% YoY

Lower Cboe Clear Europe software and data center costs, offset by AI and cloud services

Margins: Operating margin expanded to 65.1% from 57.7%, as revenues less cost of revenues rose 25% while operating expenses grew only 3%. Adjusted operating EBITDA margin reached 72.2% versus 65.8%.

Watch Items from the Filing

Strategic realignment costs of $23.7M in the quarter, with an estimated $13.0M of remaining compensation and benefits charges expected through end of 2026.
Cboe Australia and Cboe Canada classified held for sale: $261.0M assets, $31.7M liabilities, pending ~$300M sale to TMX expected to begin closing in Q3 2026.
CAT funding model faces renewed 11th Circuit challenge; $30.1M allowance already held against $94.8M of long-term notes receivable tied to CAT.
$649.6M of 3.650% Senior Notes reclassified to current portion, due January 2027; Cboe Clear Europe's €1.20B facility terminates June 25, 2027.
Options market share slipped to 30.0% from 30.2% and multi-listed share to 23.5% from 24.0%, despite 27% growth in market ADV.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$1.4B

Net Income

Q2 2026

$353.1M

Operating Margin

Q2 2026

33.3%

ROIC

Q2 2026

24.7%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+15.1% YoY

$4.71BFY 2025

FY22 $3.96BFY23 $3.77BFY24 $4.09BFY25 $4.71B

Net Income

+43.8% YoY

$1.10BFY 2025

FY22 —FY23 $761.4MFY24 $764.9MFY25 $1.10B

Operating Income

+33.6% YoY

$1.47BFY 2025

FY22 $489.6MFY23 $1.06BFY24 $1.10BFY25 $1.47B

EPS (Diluted)

+44.5% YoY

$10.42FY 2025

FY22 $2.19FY23 $7.13FY24 $7.21FY25 $10.42

Total Assets

+19.5% YoY

$9.31BFY 2025

FY22 $7.00BFY23 $7.49BFY24 $7.79BFY25 $9.31B

Total Debt

+0.1% YoY

$1.44BFY 2025

FY22 $2.05BFY23 $1.44BFY24 $1.44BFY25 $1.44B

Op. Cash Flow

+59.2% YoY

$1.75BFY 2025

FY22 $651.1MFY23 $1.08BFY24 $1.10BFY25 $1.75B

Free Cash Flow

+61.7% YoY

$1.68BFY 2025

FY22 $591.3MFY23 $1.03BFY24 $1.04BFY25 $1.68B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$4.71B +15.1%	$4.09B +8.5%	$3.77B -4.7%	$3.96B +13.3%	$3.49B +2.0%	$3.43B
Net Income	$1.10B +43.8%	$764.9M +0.5%	$761.4M	—	$529.0M +13.0%	$468.2M
Operating Income	$1.47B +33.6%	$1.10B +3.8%	$1.06B +116.1%	$489.6M -39.2%	$805.9M +21.7%	$662.2M
EPS (Diluted)	$10.42 +44.5%	$7.21 +1.1%	$7.13 +225.6%	$2.19 -55.5%	$4.92 +15.2%	$4.27
Total Assets	$9.31B +19.5%	$7.79B +4.0%	$7.49B +7.0%	$7.00B +2.7%	$6.81B +4.6%	$6.52B
Total Debt	$1.44B +0.1%	$1.44B +0.1%	$1.44B -29.7%	$2.05B +57.5%	$1.30B +2.1%	$1.27B
Operating Cash Flow	$1.75B +59.2%	$1.10B +2.3%	$1.08B +65.2%	$651.1M +9.1%	$596.8M -59.1%	$1.46B
Free Cash Flow	$1.68B +61.7%	$1.04B +0.9%	$1.03B +74.3%	$591.3M +8.3%	$545.8M -61.3%	$1.41B

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Available Research

13F Pro tracks comprehensive data for Cboe Global Markets, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CBOE

BlackRock, Inc.
$2.5B10,198,207 sh
VANGUARD CAPITAL MANAGEMENT LLC
$1.7B6,835,070 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.3B5,257,741 sh
STATE STREET CORP
$1.2B5,046,590 sh
ALLIANCEBERNSTEIN L.P.
$1.1B4,067,672 sh
FMR LLC
$1.0B4,307,122 sh
GEODE CAPITAL MANAGEMENT, LLC
$755.2M3,096,888 sh
MORGAN STANLEY
$689.9M2,843,052 sh
Invesco Ltd.
$518.3M2,135,634 sh
DEUTSCHE BANK AG\
$491.5M2,025,238 sh

Fund	Value	Shares
BlackRock, Inc.	$2.5B	10,198,207
VANGUARD CAPITAL MANAGEMENT LLC	$1.7B	6,835,070
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.3B	5,257,741
STATE STREET CORP	$1.2B	5,046,590
ALLIANCEBERNSTEIN L.P.	$1.1B	4,067,672
FMR LLC	$1.0B	4,307,122
GEODE CAPITAL MANAGEMENT, LLC	$755.2M	3,096,888
MORGAN STANLEY	$689.9M	2,843,052
Invesco Ltd.	$518.3M	2,135,634
DEUTSCHE BANK AG\	$491.5M	2,025,238

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Is CBOE a good stock to buy?

13F Pro's AI-powered analysis of Cboe Global Markets, Inc. (CBOE) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on CBOE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CBOE are available on the CBOE stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. CBOE is classified as a large company.

Which hedge funds own CBOE?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CBOE. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Cboe Global Markets, Inc.'s investment landscape.