Cboe Global Markets (CBOE) Operating Margin (2010 - 2026)
Cboe Global Markets' Operating Margin was 39.32% in Q3 2026, up 6.89 percentage points from 32.43% a year earlier and up 6.33 percentage points from the prior quarter.
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Analysis
Cboe Global Markets (CBOE) Operating Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cboe Global Markets' Operating Margin was 36.37% through Sep 30, 2026, up 6.88 percentage points year-over-year; for FY2025, it came in at 31.12%, up 4.29 percentage points from FY2024.
- Operating Margin shows a five-year change of +11.80 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 26.83% in FY2024 (-1.21 pp), 28.03% in FY2023 (+15.67 pp), 12.37% in FY2022 (-10.69 pp) and 23.06% in FY2021 (+3.74 pp).
- Quarterly Operating Margin has moved between -24.08% (Q2 2022) and 39.72% (Q1 2026) over five years.
- Compared with a year earlier, Operating Margin has increased for seven straight quarters, with an average year-over-year change of +4.38 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q2 2023 (a gain of 51.05 percentage points); the worst was Q2 2022 (a drop of 47.81 percentage points).
- Per Business Quant data, CBOE's Operating Margin in the three quarters before Q3 2026 was 32.99% (Q2 2026), 39.72% (Q1 2026) and 33.54% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.59 Bn | 97.93 Bn | - | 65.70% |
| 2 | Bank of New York Mellon | 100.46 Bn | 34.08 Bn | - | - |
| 3 | Intercontinental Exchange | 97.18 Bn | 90.07 Bn | - | 38.84% |
| 4 | Robinhood Markets | 72.63 Bn | 52.17 Bn | - | - |
| 5 | Nasdaq | 59.89 Bn | 57.32 Bn | 1.48 Bn | 30.59% |
| 6 | State Street | 45.42 Bn | 45.42 Bn | - | - |
| 7 | Cboe Global Markets | 36.91 Bn | 27.39 Bn | 712.20 Mn | 39.32% |
| 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 | - | 43.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 39.32% |
| Jun 30, 2026 | 32.99% |
| Mar 31, 2026 | 39.72% |
| Dec 31, 2025 | 33.54% |
| Sep 30, 2025 | 32.43% |
| Jun 30, 2025 | 28.90% |
| Mar 31, 2025 | 29.62% |
| Dec 31, 2024 | 26.95% |
| Sep 30, 2024 | 29.12% |
| Jun 30, 2024 | 21.57% |
| Mar 31, 2024 | 29.50% |
| Dec 31, 2023 | 30.35% |
| Sep 30, 2023 | 29.84% |
| Jun 30, 2023 | 26.97% |
| Mar 31, 2023 | 25.09% |
| Dec 31, 2022 | 24.93% |
| Sep 30, 2022 | 23.83% |
| Jun 30, 2022 | -24.08% |
| Mar 31, 2022 | 24.60% |
| Dec 31, 2021 | 25.46% |
API Access
Cboe Global Markets Operating Margin 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=operating-margin&ticker=CBOE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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=operating-margin&ticker=CBOE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();