ALTSTATION.IO

Cboe Global Markets, Inc. (CBOE) Stock Analysis

By Nova Skye | AltStation.io | Updated February 07, 2026

Price

$270.23

Change

-1.83%

Market Cap

$28.28B

Avg Volume

772.7K

Company Overview

Cboe Global Markets, Inc. operates as a major financial exchange, providing a diverse range of trading services across options, equities, futures, foreign exchange, and digital assets. The company serves institutional and retail traders, offering products like market indices options, exchange-traded funds, and futures contracts. Their operations are segmented into areas such as Options, North American Equities, and Global FX, ensuring they cater to various client needs in the financial markets.

Cboe is a market leader in several segments, particularly options trading where it holds the largest market share in the U.S. Its comprehensive product suite and strong relationships with major indices like S&P and MSCI bolster its competitive edge. However, it faces threats from rivals such as Nasdaq and NYSE, which are also vying for market share in various trading segments. The rise of alternative trading systems and decentralized finance could impact their dominance in the long term.

Currently, Cboe is in a growth phase, expanding its digital asset trading capabilities and enhancing its international reach. The recent launch of Cboe Digital, a regulated marketplace for digital assets, represents a significant pivot towards the burgeoning cryptocurrency market. Additionally, their ability to adapt to changing market dynamics and innovate will be crucial as they work to maintain their leadership role in the financial services sector.

Key Financials

Market Cap

$28.28B

Revenue

$4.62B

EBITDA

$1.50B

Gross Margin

49.4%

Profit Margin

21.3%

Revenue Growth

8.1%

Total Cash

$1.50B

Total Debt

$1.59B

Free Cash Flow

$987.80M

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

29.06

Forward P/E

24.12

Beta

0.35

52-Week High

$279.33

52-Week Low

$200.88

EPS

$9.30

50-Day Avg

$259.30

200-Day Avg

$242.30

Price/Book

5.79

Technical Analysis

Cboe Global Markets, Inc. (CBOE) has shown a strong upward trend over the past 52 weeks, with the price rising from around $200 to its current level of $270.23, reflecting a 31.1% increase. Key support is observed at the $220 level, while resistance is evident near the $273.36 peak reached recently. The chart displays a series of higher highs and higher lows, indicating a bullish price pattern, with the presence of a general ascending trendline that supports this behavior. In the last few weeks, the stock has experienced increased volatility but has held above the support level, suggesting a continuation of positive momentum. Currently, at $270.23, the stock is close to the 52-week high, indicating strong demand and implying that if resistance at $273.36 is breached, further upside potential may exist.

Recent News and Developments

Here’s a summary of the latest news and developments for Cboe Global Markets, Inc

(CBOE) stock from the past week, covering January 31 to February 7, 2026:

1. Cboe Global Markets Reports Record Q4 and Full-Year 2025 Earnings, Issues 2026 Guidance

Cboe Global Markets announced record financial results for the fourth quarter and full year of 2025. The company reported a 28% year-over-year increase in Q4 net revenue, reaching $671.1 million, and a 46% rise in adjusted diluted EPS to $3.06, both exceeding analyst estimates. For the full year 2025, Cboe achieved record net revenue of $2.4 billion and adjusted diluted EPS of $10.67, driven by strong derivatives performance, particularly in SPX options. Looking ahead, Cboe provided 2026 guidance, projecting “mid-single-digit” total organic net revenue growth and “mid to high single-digit” growth for Cboe Data Vantage, with adjusted operating expenses estimated between $864 million and $879 million.

2. Cboe Explores Reintroduction of Binary Options Contracts

Cboe Global Markets is reportedly in early discussions with retail brokers and market makers to reintroduce binary options contracts. This strategic move aims to engage retail investors and compete in the rapidly growing prediction market, which saw platforms like Kalshi and Polymarket achieve a record monthly trading volume of $17 billion in January. Cboe had previously launched binary options in 2008 but later withdrew them, now seeking to reposition the product as an entry point for retail investors into the options market under the oversight of either the SEC or CFTC.

Market Sentiment and Analyst Recommendations

Bull Case

Cboe just printed record results with 28% revenue growth in Q4 and 46% EPS growth, crushing analyst expectations. SPX options are the real story here — 287,000 contracts in a single session and Mini-SPX hitting monthly volume records shows retail is rotating into index products, not fighting over individual stocks. January 2026 data confirms this isn’t a one-month fluke: index options up 20.8% year-over-year, FX volumes up 33.6%. The binary options reintroduction targets a market that did $17 billion monthly volume on Kalshi and Polymarket, a massive TAM Cboe can legitimately capture. At 29x forward P/E with mid-single-digit organic growth guidance, you’re paying for quality execution in a duopoly (Cboe and ICE control US equity options), and the company has proven it can deliver. The stock is already near 52-week highs but the momentum is real, not sentiment-driven.

Bear Case

The valuation is the sticking point. 29x P/E for a mid-single-digit growth business is expensive, even for a duopoly operator. Cboe’s guidance projects 4-6% organic revenue growth in 2026 after a blowout 2025 — that’s a significant deceleration and suggests last year was driven by volatility spikes and seasonal strength that won’t repeat. The binary options play is speculative; Cboe killed this product once before and regulatory uncertainty remains. Debt-to-cash ratio of 1.06x is not alarming but leaves limited flexibility if trading volumes normalize. The analyst consensus is genuinely split with a “hold” rating from 13 analysts and targets ranging from $220 to $314, suggesting the market has no conviction on direction. Near all-time highs with limited upside to the $273 target means risk-reward is asymmetric to the downside if volatility or volumes disappoint.

What to Watch

Monitor February and Q1 2026 trading volumes obsessively — if index options and SPX contracts roll over, the bull thesis collapses fast. Cboe reports monthly volume data publicly, so you’ll have real-time signals before earnings. Watch the binary options regulatory path: if the SEC or CFTC approves the product and it gains traction with retail, that’s a meaningful revenue stream; if regulators block it, remove that upside entirely. The 2026 guidance floor is critical: management said “mid-single-digit” growth, so anything below 4% organic revenue growth is a miss and likely triggers a 5-10% correction. Track Cboe Data Vantage specifically — they projected 5-7% growth there, and if data services accelerate faster than derivatives, that shows the business is diversifying beyond trading fees. Finally, watch the $273 resistance level closely; a break above it could trigger a 5-7% rally toward the $314 analyst target, but failure to sustain above $273 confirms the stock is range-bound and a “hold” is the right call.

Analyst Consensus

HOLD

Based on 13 analyst opinions

Low Target

$220.00

Mean Target

$273.00

High Target

$314.00

Earnings and Financial Data

Sector

Financial Services

Industry

Financial Data & Stock Exchanges

Employees

1,685

Earnings & Dividends

Next Earnings

Feb 06, 2026

EPS (Trailing)

$9.30

Dividend Yield

105.0%

Payout Ratio

28.1%

Frequently Asked Questions

Is CBOE a good stock to buy?

Currently, CBOE stock is trading at $270.23 with an analyst recommendation of HOLD and a target price of $273.00. The valuation shows a P/E of 29.06, indicating it may be fully valued. A cautious approach is best right now.

What is CBOE’s price target?

Analysts have set a price target of $273.00 for CBOE. Given the current price of $270.23, there’s limited upside potential, making it critical to monitor market conditions before making a move.

Does CBOE pay a dividend?

Yes, CBOE has a notable dividend yield of 105.0%. This yield indicates that the company is committed to returning capital to shareholders, which can attract income-focused investors.

What is CBOE’s 52-week range?

CBOE’s 52-week trading range is $200.88 to $279.33. This range illustrates its volatility and potential for price fluctuation in both bullish and bearish market conditions.

What sector is CBOE in?

CBOE operates within the Financial Services sector, specifically in the Financial Data & Stock Exchanges industry. Understanding its sector provides insight into broader market trends that may impact its stock performance.

Related Stock Reports

Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated February 07, 2026.