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STOCK COMPARISON

Cboe vs CME: Fair Value & Quality

Both stocks run through our valuation models. Here is how Cboe (CBOE) and CME (CME) compare, as of Oct 30, 2026.

As of Oct 30, 2026, Fair Value Calculator sees Cboe as the less overvalued of the two: Cboe trades at $336 versus a fair value of $248 (−26.2%), while CME trades at $303 versus $201 (−33.8%).
Cboe
CBOE · USD · Financials
−26.2%
upside to fair value
overvalued
Price$336
Fair Value$248
Quality77/100
Fair ValueQualityUptrend
CME
CME · USD · Financials
−33.8%
upside to fair value
overvalued
Price$303
Fair Value$201
Quality62/100
Fair ValueQualityUptrend
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

CboeCME
Valuation
26.2×P/E (TTM)24.7×
22.1×Forward P/E (FY2027)22.9×
25.2×Median P/E at FY-end (10 FY, ex one-offs where documented)24.0×
6.95×P/S (TTM)15.79×
6.85×P/B3.82× · book value is mostly goodwill
17.8×EV/EBITDA22.0×
2.38×PEG5.17×
−26.2%Fair value upside−33.8%
0.9%Dividend yield1.7%
$2.88Dividend per share$5.15
Profitability
34.6%Operating margin65.9%
1.66×EBIT margin trend (5Y)1.20×
26.3%Return on equity16.1%
11.8%Return on assets2.0%
Growth
22.9%Revenue growth (YoY)13.0%
6.0%Avg. growth/yr (3Y)9.1%
6.6%Avg. growth/yr (5Y)6.0%
+19.4%Value creation/yr+14.3%
Balance & size
29.0×Interest coverage (EBIT/interest)32.6×
0.28×Debt / equity0.12×
$35BMarket cap$110B
healthyGrowth qualityhealthy
Cboe, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), earnings ex one-offs: 25.2. CME, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 24.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Cboe leads: 8 to 6 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Cboe CME
ProfitabilityHow much profit the company makes from its sales and capital
64
38
Quality GrowthAre margins and returns getting better?
60
55
CashflowDo the profits arrive as real cash?
82
84
Financial strengthDebt, balance sheet and risk of trouble
86
7
InvestmentDoes it invest with discipline instead of growing at any price?
60
89
Low VolatilityHow calm the share price moves, does not count
76
89
Price momentumPrice momentum of the last 3 to 12 months, does not count
56
51
Near the 52-week highDistance to the 52-week high, does not count
81
72
New sharesBuys back shares or issues new ones?
85
78

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCboePrice $336CMEPrice $303
DCF Models−26.2%below the price$248−33.8%below the price$201
Earnings-Based−13.2%close to the price$291−37.6%below the price$189
Dividend Discount−83.3%below the price$56.09−25.3%below the price$226
Multiples−78.2%below the price$73.10−51.5%below the price$147
Asset-Based−99.3%below the price$2.44n/a
Growth DCF−15.8%below the price$283−39.5%below the price$184
Economic Profit−69.0%below the price$104−66.9%below the price$100
Matching families6 of 7
Minimum−83.3%below the price$56.09−66.9%below the price$100
Maximum−13.2%close to the price$291−25.3%below the price$226
Median−47.6%below the price$176−38.5%below the price$186
Geometric mean−57.3%below the price$143−44.3%below the price$169
Ahead family by family3 of 63 of 6

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 6 of 7), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: Cboe is ahead in 3 of 6 shared families, CME in 3.

Cboe: 10 of 13 models see the stock below the current price.

CME: 11 of 11 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Cboe
Price $336
Fair Value $248
Bear $103Bull $404
CME
Price $303
Fair Value $201
Bear $110Bull $288

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Cboe · Financials

Quality score77 · Top 25%
Fair value upside−26.2% · below median

CME · Financials

Quality score62 · above median
Fair value upside−33.8% · below median

Bottom line

As of Oct 30, 2026, Fair Value Calculator sees Cboe as the less overvalued of the two: Cboe trades at $336 versus a fair value of $248 (−26.2%), while CME trades at $303 versus $201 (−33.8%).

Cboe has the higher quality score (77/100).

Open Cboe live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.