Question 1

What is CME Group's P/FCF ratio?

Accepted Answer

CME Group (CME) P/FCF ratio is 19.9× as of July 21, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for CME Group?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For CME Group specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is CME Group's P/FCF ratio high or low?

Accepted Answer

CME Group's P/FCF ratio of 19.9× is below its own 5-year average of 24.8× and above the sector median of 12.0×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is CME Group's historical P/FCF ratio range?

Accepted Answer

In the available daily series, CME Group (CME) P/FCF ratio has ranged from a low of 12.1× in 2002 to a high of 58.3× in 2007. The 5-year average is 24.8× and the 5-year median is 23.4×.

Question 7

What was CME Group's P/FCF ratio in 2025?

Accepted Answer

CME Group (CME) P/FCF ratio at the end of 2025 was 23.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does CME Group's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$98.2B	$4.19B	23.4×	+0.2×	Dec 31, 2025
2024	$83.5B	$3.6B	23.2×	+0.8×	Dec 31, 2024
2023	$75.6B	$3.38B	22.4×	+2.1×	Dec 31, 2023
2022	$60.4B	$2.97B	20.3×	-15.7×	Dec 31, 2022
2021	$81.9B	$2.28B	36.0×	+10.1×	Dec 31, 2021
2020	$65.2B	$2.52B	25.9×	-3.7×	Dec 31, 2020
2019	$71.7B	$2.43B	29.6×	+1.2×	Dec 31, 2019
2018	$66B	$2.32B	28.4×	+0.2×	Dec 31, 2018
2017	$49.5B	$1.76B	28.2×	+4.2×	Dec 31, 2017
2016	$39B	$1.62B	24.0×	+2.2×	Dec 31, 2016
2015	$30.5B	$1.4B	21.8×	-4.0×	Dec 31, 2015
2014	$29.7B	$1.15B	25.8×	+3.2×	Dec 31, 2014
2013	$26.2B	$1.15B	22.7×	+7.0×	Dec 31, 2013
2012	$16.8B	$1.08B	15.6×	+1.9×	Dec 31, 2012
2011	$16.1B	$1.17B	13.7×	-4.2×	Dec 31, 2011
2010	$21.5B	$1.2B	18.0×	-6.1×	Dec 31, 2010
2009	$22.3B	$925M	24.1×	+11.6×	Dec 31, 2009
2008	$12.5B	$997M	12.5×	-37.8×	Dec 31, 2008
2007	$32.8B	$651M	50.3×	+4.1×	Dec 31, 2007
2006	$17.7B	$384M	46.2×	+4.8×	Dec 31, 2006
2005	$12.7B	$306M	41.4×	+11.7×	Dec 31, 2005
2004	$7.77B	$261M	29.7×	+11.2×	Dec 31, 2004
2003	$2.38B	$128M	18.6×	+1.8×	Dec 31, 2003
2002	$1.42B	$84.8M	16.7×	—	Dec 31, 2002


UMB Financial (UMBF)	8.8×
Federal Agricultural Mortgage (AGM)	8.6×
T. Rowe Price (TROW)	8.6×
First Financial (THFF)	8.3×
Old Republic International (ORI)	8.0×
1st Source (SRCE)	8.0×
Auburn National Bancorporation (AUBN)	7.7×
Eagle Financial Services (EFSI)	7.5×
PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
American Financial Group (AFG)	6.8×
Hartford Insurance Group (HIG)	6.5×
Travelers Companies (TRV)	6.3×
Invesco (IVZ)	6.1×
Arch Capital Group (ACGL)	5.9×
Principal Financial Group (PFG)	5.5×
Allstate (ALL)	4.7×
Everest Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
MetLife (MET)	2.8×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for CME Group (CME) 2002-2026

P/FCF Ratio daily chart for CME Group (CME)

Historical P/FCF Ratio for CME Group (CME) from 2002 to 2025

About P/FCF Ratio at CME Group (CME)

CME Group P/FCF Ratio by Year

CME Group P/FCF Ratio 2025: 23.4×

CME Group P/FCF Ratio 2024: 23.2×

CME Group P/FCF Ratio 2023: 22.4×

CME Group P/FCF Ratio 2022: 20.3×

CME Group P/FCF Ratio 2021: 36.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

CME Group (CME) Key Financials