Cboe Global Markets (CBOE)
BATSFinancialsFinancial - Data & Stock ExchangesSnapshot 2026-11-05
$353.07+2.28%
Close 2026-11-05 · 1-day change
BATSFinancialsFinancial - Data & Stock ExchangesSnapshot 2026-11-05
QuarterlyIQ Insights · CBOE
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within financials on a research-validated quality screen. As of 2026-11-05.
The screen ranks CBOE against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Financials names rated neutral grew net income 55% of the time over the next year (vs 61% for the rest of the cohort, n=10284).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…
Stated in 8 of 8 supplied quarters. Management reported: “Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net revenue growth target 2 to ‘mid teens’ from ‘low teens’, and lowering adjusted operating expense guidance to $830 to $845 million from $838 to $853 million.”” “• Organic total net revenue growth 2 is expected to be in the 'high teens' range, up from prior guidance of 'mid to high teens' in 2026.” Revenue was $1.359 billion in 2026-Q3.
“Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…”
“Given our strong performance through the first half of the year, we are increasing our 2026 organic total net revenue growth target² to 'mid to high teens' from 'low double-digit to mid teens', and o…”
“Moving forward, we anticipate 2026 total organic net revenue growth 2 will be in the ‘low double-digit to mid-teens’ range, up from our prior guidance of ‘mid single-digit’, and we anticipate 2026 Da…”
“Moving forward, we anticipate 2026 total organic net revenue growth 2 will be in the ‘mid single-digit’ range, and we anticipate 2026 Data Vantage organic net revenue growth 2 will be in the ‘mid to…”
“Moving forward, we are increasing our 2025 organic total net revenue growth 2 guidance range to ‘low double-digit to mid-teens’ from ‘high single-digit.’”
“Moving forward, we are increasing our organic total net revenue growth 2 guidance range to high single digits from mid to high single digits, and we are reaffirming our Data Vantage organic net reven…”
Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…
Stated in 8 of 8 supplied quarters. Management reported: “Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net revenue growth target 2 to ‘mid teens’ from ‘low teens’, and lowering adjusted operating expense guidance to $830 to $845 million from $838 to $853 million.”” “• Organic net revenue growth 2 from Data Vantage is expected to be in the ‘mid teens’ range, up from prior guidance of 'low teens' in 2026.”
Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…
Stated in 8 of 8 supplied quarters. Management reported: “Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net revenue growth target 2 to ‘mid teens’ from ‘low teens’, and lowering adjusted operating expense guidance to $830 to $845 million from $838 to $853 million.”” “• Adjusted operating expenses 2 in 2026 are expected to be in the range of $830 to $845 million, down from prior guidance of $838 to $853 million.”
“Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, we announced a realignment to increase focus and investment in…
Stated in 3 of 8 supplied quarters. Management reported: ““Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, we announced a realignment to increase focus and investment in the core businesses that drive our earnings.” “Our earlier actions to sell, wind down, and optimize certain businesses, combined with today’s strategic realignment, are expected to reduce our workforce by approximately 20 percent.”
Second, building upon our history of innovation, we advanced our Cboe Predicts offering and our clearing capabilities through the quarter, and recently received the SEC approvals needed to list and c…
Stated in 2 of 8 supplied quarters. Management reported: “Whether it’s expanding event contracts, growing Cboe Clear U.S., or advancing around-the-clock access to our markets, we’re executing with speed and discipline to create durable growth and value for our shareholders."” “Second, building upon our history of innovation, we advanced our Cboe Predicts offering and our clearing capabilities through the quarter, and recently received the SEC approvals needed to list and clear our company-KPI event contracts, in anticipation of a November launch.”
Over the trailing year it converted 3.38x of net income into operating cash flow. Historically, Financials names rated robust grew net income 62% of the time over the next year (vs 56% for the rest of the cohort, n=6873).
Not enough signal yet.
Not enough signal to read sensitivity to the broad stock market, the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates (low R² over the window).
13 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Financials names rated neutral grew net income 60% of the time over the next year (vs 58% for the rest of the cohort, n=10134).
Not investment advice. As of 2026-11-05.
“Moving forward, we are increasing our organic total net revenue growth 2 guidance range to mid to high single digits from mid single digits, and we are reaffirming our Data Vantage organic net revenu…”
“Following another record year of revenue generation, we anticipate organic total net revenue growth 2 will be in the mid single digit range in 2025.”
“Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…”
“Given our strong performance through the first half of the year, we are increasing our 2026 organic total net revenue growth target² to 'mid to high teens' from 'low double-digit to mid teens', and o…”
“Moving forward, we anticipate 2026 total organic net revenue growth 2 will be in the ‘low double-digit to mid-teens’ range, up from our prior guidance of ‘mid single-digit’, and we anticipate 2026 Da…”
“Moving forward, we anticipate 2026 total organic net revenue growth 2 will be in the ‘mid single-digit’ range, and we anticipate 2026 Data Vantage organic net revenue growth 2 will be in the ‘mid to…”
“- More - Exhibit 99.1 News Release Page 2 of 16 We are also increasing our Data Vantage organic net revenue growth 2 range to ‘high single-digit to low double-digit’ from ‘mid to high single-digit.’”
“Moving forward, we are increasing our organic total net revenue growth 2 guidance range to high single digits from mid to high single digits, and we are reaffirming our Data Vantage organic net reven…”
“Moving forward, we are increasing our organic total net revenue growth 2 guidance range to mid to high single digits from mid single digits, and we are reaffirming our Data Vantage organic net revenu…”
“We anticipate Data Vantage organic net revenue growth 2 will be in the mid to high single digit range in 2025.”
“Given our strong year-to-date performance, we are increasing our 2026 total organic net revenue growth target 2 to ‘high teens’ from ‘mid to high teens’, increasing our Data Vantage organic net reven…”
“We remain focused on disciplined execution as we build on this momentum."”
“In addition, given disciplined expense management and incorporating the impact from today’s additional actions related to our strategic realignment, we are reducing our full year 2026 adjusted operat…”
“In addition, we are introducing our full year 2026 adjusted operating expense guidance 2 range of $864 million to $879 million.”
“In addition, we are lowering our full year adjusted operating expense guidance 2 range to $827 million to $842 million from $832 to $847 million.”
“In addition, we are lowering our full year adjusted operating expense guidance 2 range to $832 million to $847 million from $837 to $852 million.”
“In addition, we are reaffirming our full year adjusted operating expense guidance 2 range of $837 to $852 million.”
“Our revenue growth expectations are balanced by our disciplined expense focus, with the introduction of our full year adjusted operating expense guidance 2 range of $837 to $852 million.”
““Following a thorough strategic review and the adoption of a more rigorous financial and strategic framework in the second half of 2025, we announced a realignment to increase focus and investment in…”
““Our recent strategic realignment is enabling us to allocate more resources toward growth and value creation in our core businesses, while also better positioning Cboe to capitalize on emerging oppor…”
“After completing a comprehensive review, Cboe is realigning its portfolio of businesses to sharpen its strategic focus on core strengths and emerging growth opportunities.”
“Second, building upon our history of innovation, we advanced our Cboe Predicts offering and our clearing capabilities through the quarter, and recently received the SEC approvals needed to list and c…”
“Whether it’s expanding event contracts, growing Cboe Clear U.S., or advancing around-the-clock access to our markets, we’re executing with speed and discipline to create durable growth and value for…”