- Cboe Global Markets reported third quarter 2026 revenue of US$1,358.8 million and net income of US$428.2 million, with basic earnings per share from continuing operations of US$4.08, alongside a nine month net income of US$1,167 million.
- Alongside these results, Cboe Global Markets extended its exclusive S&P Dow Jones Indices licensing agreement through 2051 and received regulatory approval to launch securities based KPI contracts on 23 companies. This adds new potential revenue streams to an already expanding derivatives and data platform.
- We will look at how Cboe Global Markets' investment narrative is affected by this strong earnings beat and raised revenue guidance.
Scan beyond Cboe Global Markets to compare this earnings story with 33 high quality undervalued stocks, which pairs strong fundamentals with room for the next potential breakout.
Cboe Global Markets Investment Narrative Recap
To own Cboe Global Markets, you need to believe in a business that can keep monetising options, futures, FX and data even as trading habits evolve. The recent third quarter and nine month results show that the engine is currently running at scale, with higher net income and earnings per share supporting that thesis in the short term.
Right now, the key near term catalyst is execution on derivative and data growth while containing the cost of technology and global expansion. The biggest risk remains concentration around key index franchises and the possibility that heavy investments outpace revenue trends. The latest figures do not remove those risks but make them feel less immediate.
The extension of Cboe Global Markets long term licensing agreement with S&P Dow Jones Indices to 2051 is the announcement that really matters alongside these earnings. That agreement underpins flagships like SPX options and VIX futures, which sit at the centre of Cboe's derivatives and data ecosystem.
For catalysts, that multi decade visibility supports continued product development, market data licensing and international expansion linked to S&P benchmarks. On the risk side, it narrows the near term threat that a core index partnership suddenly disrupts earnings, leaving investors to focus more on competitive pressure, execution in Europe and Asia Pacific, and ongoing technology spending discipline.
Cboe Global Markets' current analyst narrative points to revenues of US$3.1b and earnings of US$1.5b by 2029. That profile assumes revenue will decline by 14.8% per year and earnings will rise by about US$0.2b from US$1.3b today.
Uncover why Cboe Global Markets' fair value aligns with its current price.
Exploring Other Perspectives
Four fair value estimates from the Simply Wall St Community span roughly US$211 to US$331 per share for Cboe Global Markets, with the widest gap at the top end of the range. That spread sits alongside fresh earnings strength, a confirmed dividend and new leadership in HR, so you should expect sharply different opinions and explore several viewpoints.
Explore 3 other Cboe Global Markets fair value estimates, including one estimate that suggests it could be worth as much as $331.40.
Decide For Yourself
Don't just follow the ticker; dig into the data and build a conviction that's truly your own.
- A great starting point for your Cboe Global Markets research is our analysis highlighting 3 key rewards that could impact your investment decision.
- See our latest analysis for Cboe Global Markets. The report includes a comprehensive fundamental analysis summarized in a single visual, the Snowflake, making it easy to evaluate Cboe Global Markets' overall financial health at a glance.
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