Cboe Global Markets (CBOE) Cost of Revenue (2016 - 2026)
Cboe Global Markets (CBOE) reported Cost of Revenue of $646.6 million for Q3 2026, up 20.6% from $536.2 million a year earlier but down 9.1% from the prior quarter.
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Analysis
Cboe Global Markets (CBOE) Cost of Revenue (2016 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Cboe Global Markets' Cost of Revenue came in at $2.43 billion, up 4.3% year-over-year; for FY2025, it came in at $2.29 billion, up 13.0% from FY2024.
- Cost of Revenue has a five-year compound annual growth rate of 1.0% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $2.02 billion in FY2024 (+9.0%), $1.86 billion in FY2023 (-16.3%), $2.22 billion in FY2022 (+9.8%) and $2.02 billion in FY2021 (-7.1%).
- Five-year quarterly Cost of Revenue spans a low of $428.3 million in Q3 2023 and a high of $711.2 million in Q2 2026.
- Year over year, Cost of Revenue gained in six of the last eight quarters, with growth averaging 14.0%.
- The high point for year-over-year Cost of Revenue in five years was Q1 2025 (growth of 38.4%); the low point was Q3 2023 (a decline of 22.3%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $711.2 million (Q2 2026), $543.9 million (Q1 2026) and $532.9 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.59 Bn | 97.93 Bn | - | - |
| 2 | Bank of New York Mellon | 100.46 Bn | 34.08 Bn | - | - |
| 3 | Intercontinental Exchange | 97.18 Bn | 90.07 Bn | - | - |
| 4 | Robinhood Markets | 72.63 Bn | 52.17 Bn | - | - |
| 5 | Nasdaq | 59.89 Bn | 57.32 Bn | 1.48 Bn | 912.00 Mn |
| 6 | State Street | 45.42 Bn | 45.42 Bn | - | - |
| 7 | Cboe Global Markets | 36.91 Bn | 27.39 Bn | 712.20 Mn | 646.60 Mn |
| 8 | Interactive Brokers | 34.30 Bn | 10.61 Bn | - | - |
| 9 | Northern Trust | 31.46 Bn | 31.46 Bn | - | - |
| 10 | Tradeweb Markets | 27.14 Bn | 18.94 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 646.60 Mn |
| Jun 30, 2026 | 711.20 Mn |
| Mar 31, 2026 | 543.90 Mn |
| Dec 31, 2025 | 532.90 Mn |
| Sep 30, 2025 | 536.20 Mn |
| Jun 30, 2025 | 586.20 Mn |
| Mar 31, 2025 | 629.80 Mn |
| Dec 31, 2024 | 583.10 Mn |
| Sep 30, 2024 | 523.70 Mn |
| Jun 30, 2024 | 460.20 Mn |
| Mar 31, 2024 | 455.10 Mn |
| Dec 31, 2023 | 469.70 Mn |
| Sep 30, 2023 | 428.30 Mn |
| Jun 30, 2023 | 440.70 Mn |
| Mar 31, 2023 | 516.80 Mn |
| Dec 31, 2022 | 547.60 Mn |
| Sep 30, 2022 | 551.10 Mn |
| Jun 30, 2022 | 561.70 Mn |
| Mar 31, 2022 | 556.40 Mn |
| Dec 31, 2021 | 475.90 Mn |
API Access
Cboe Global Markets Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CBOE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "CBOE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CBOE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();