Cboe Global Markets
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
29.7927.6124.4122.40
Price/Sales ratio
12.0811.6311.4911.12
Earnings per Share (EPS)
$8.27$8.92$10.09$11

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
35.4033.5241.8833.2425.6435.6521.6926.3756.7524.8126.4925.64
Price/Sales ratio
10.8810.8312.125.993.955.352.963.993.365.005.213.95
Price/Book Value ratio
26.8526.4724.614.293.373.983.033.873.844.744.903.37
Price/Cash Flow ratio
25.5728.0234.0835.6720.4521.126.9623.3720.4817.569.7121.12
Price/Free Cash Flow ratio
31.6033.3742.2639.6421.9422.367.1925.5622.5518.339.9722.36
Price/Earnings Growth ratio
3.202.96-5.420.528.62-3.080.801.73-1.020.110.26-3.08
Dividend Yield
1.65%1.06%1.00%0.88%1.19%1.12%1.67%1.38%1.56%1.18%1.19%1.19%
Profitability Indicator Ratios
Gross Profit Margin
89.28%72.18%70.37%35.62%35.68%37.57%30.03%33.98%43.99%50.82%46.02%35.68%
Operating Profit Margin
50.84%50.41%46.22%16.68%21.64%21.52%19.32%23.06%24.50%28.03%29.71%21.64%
Pretax Profit Margin
50.17%51.06%47.52%15.00%20.62%20.08%19.26%21.63%10.93%27.76%27.59%20.62%
Net Profit Margin
30.73%32.31%28.95%18.02%15.40%15.01%13.66%15.13%5.93%20.17%19.70%15.40%
Effective Tax Rate
38.74%36.72%39.42%-19.79%25.56%26.04%29.10%30.03%45.71%27.31%28.50%25.56%
Return on Assets
49.41%53.28%39.15%7.62%8.01%7.33%7.18%7.76%3.35%10.16%8.94%8.01%
Return On Equity
75.86%78.96%58.75%12.91%13.15%11.17%13.98%14.67%6.78%19.10%19.19%13.15%
Return on Capital Employed
100.57%102.93%76.11%7.54%12.68%11.11%12.72%14.27%17.56%17.33%18.59%12.68%
Liquidity Ratios
Current Ratio
3.312.752.611.301.142.151.19N/AN/AN/A1.381.14
Quick Ratio
3.332.682.711.301.142.150.570.670.681.431.381.14
Cash ratio
2.051.381.130.420.460.810.180.290.290.390.310.81
Days of Sales Outstanding
53.5655.2873.7238.3947.1534.3135.9234.1434.0932.6239.0539.05
Days of Inventory outstanding
25.5110.5913.97N/AN/AN/A123.62118.0089.40N/AN/AN/A
Operating Cycle
79.0865.8887.6938.3947.1534.31159.54152.14123.5032.6239.0534.31
Days of Payables Outstanding
15.343.6412.4110.982.624.914.333.084.524.852.952.62
Cash Conversion Cycle
63.7462.2375.2827.4044.5329.40155.21149.05118.9727.7636.1029.40
Debt Ratios
Debt Ratio
N/AN/AN/A0.230.220.160.180.190.240.190.160.16
Debt Equity Ratio
N/AN/AN/A0.390.370.250.350.360.500.360.340.25
Long-term Debt to Capitalization
N/AN/AN/A0.280.220.200.250.260.290.260.250.22
Total Debt to Capitalization
N/AN/AN/A0.280.270.200.260.260.330.260.250.20
Interest Coverage Ratio
N/A7.44K51.8811.5216.2616.1720.03N/AN/AN/A22.6916.26
Cash Flow to Debt Ratio
N/AN/AN/A0.300.430.721.210.450.370.741.470.43
Company Equity Multiplier
1.531.481.501.691.641.521.941.892.011.872.071.64
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.420.380.350.160.190.250.420.170.160.280.530.19
Free Cash Flow / Operating Cash Flow Ratio
0.800.830.800.890.930.940.960.910.900.950.970.93
Cash Flow Coverage Ratio
N/AN/AN/A0.300.430.721.210.450.370.741.470.43
Short Term Coverage Ratio
N/AN/AN/AN/A1.78N/A21.23N/A2.13N/AN/AN/A
Dividend Payout Ratio
58.41%35.81%42.01%29.4%30.55%40.01%36.43%36.54%89.10%29.35%30.98%30.55%