How does Cboe Global Markets (CBOE) make money?

Cboe Global Markets (CBOE) generates revenue primarily from Transaction And Clearing Fees, which accounted for 78.6% of total revenue in TTM through Q1 2026. The company reported $4.79B in revenue and converted 25.8% of it into net profit, equivalent to roughly $1.24B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Cboe Global Markets (CBOE)?

Cboe Global Markets (CBOE) reported a gross profit margin of 52.2% in TTM through Q1 2026, equivalent to $2.50B in gross profit on $4.79B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Cboe Global Markets (CBOE)?

Cboe Global Markets (CBOE) reported an operating profit margin of 34.3% in TTM through Q1 2026, equivalent to $1.64B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Cboe Global Markets (CBOE)?

Cboe Global Markets (CBOE) reported a net profit margin of 25.8% in TTM through Q1 2026, equivalent to $1.24B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Cboe Global Markets (CBOE) profitable?

Yes. Cboe Global Markets (CBOE) reported $1.24B in net income for TTM through Q1 2026, with a net profit margin of 25.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Cboe Global Markets (CBOE) spend on capital expenditures?

Cboe Global Markets (CBOE) spent $75.50M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.6% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Cboe Global Markets (CBOE) generate?

Cboe Global Markets (CBOE) generated $975.40M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 20.4%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Cboe Global Markets (CBOE)?

Cboe Global Markets (CBOE) had an effective tax rate of 28.7% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Cboe Global Markets (CBOE)?

Cboe Global Markets (CBOE) reports revenue across 5 reportable product segments, led by Transaction & Clearing at 78.6% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Cboe Global Markets Makes Money: 2026 Visual Revenue Map

Cboe Global Markets (CBOE) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported March 31, 2026).

Cboe Global Markets discloses geographic revenue only in annual filings. to view the full breakdown.

Cboe Global Markets (CBOE) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Cboe Global Markets (CBOE) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Transaction & Clearing	$3.77B	78.6%
Access & Capacity	$423.34M	8.8%
Market Data Fees	$338.78M	7.1%
Regulatory Fees	$168.30M	3.5%
Other Revenue	$96.54M	2%
Total	$4.79B	100%

Transaction & Clearing$3.77B
Access & Capacity$423.34M
Market Data Fees$338.78M
Regulatory Fees$168.30M
Other Revenue$96.54M
Total$4.79B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Cboe Global Markets (CBOE) reports revenue across 5 operating segments; the largest segment was Transaction & Clearing at 78.6%, followed by Access & Capacity (8.8%) and Market Data Fees (7.1%).

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