Cboe Global Markets Inc. (0HQN) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Cboe Global Markets Inc. $217, price $275, upside -21.3%, quality 77 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Cboe Global Markets Inc.
0HQN · LSEGreat Company, Expensive PriceHigh Quality, but the stock trades above estimated Fair Value.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $74.62 – $368.55 · fair‑value band $129.40 – $398.86 · the $275.39 price screens above the $216.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Cboe Global Markets, Inc., through its subsidiaries, operates as a derivatives and securities exchange network that delivers cutting-edge trading, clearing, and investment solutions in the United States and internationally. It operates through five segments: Options, North American Equities, Europe and Asia Pacific, Futures, and Global FX.
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Cboe Global Markets, Inc., through its subsidiaries, operates as a derivatives and securities exchange network that delivers cutting-edge trading, clearing, and investment solutions in the United States and internationally. It operates through five segments: Options, North American Equities, Europe and Asia Pacific, Futures, and Global FX. The Options segment includes options on market indices, as well as on the stocks of individual corporations and on trading solutions and products in multiple asset classes, including equities, derivatives, and FX, across North America, Europe, and Asia Pacific (ETPs), such as exchange-traded funds (ETFs) and exchange-traded notes (ETNs); and trading in listed options through a single system. The North American Equities segment comprising U.S. equities and ETP transaction services. This segment also includes listing services on Cboe Canada, ETP listings on BZX, the Cboe Global Markets, Inc. common stock listing, and applicable market data. The Europe and Asia Pacific segment provides pan-European derivatives transaction services, ETPs, including exchange traded funds, exchange traded notes, and exchange traded commodities, and international depository receipts; and ETP listings business on regulated markets and clearing activities, as well as the equities services. The Futures segment offers transaction services, which includes trading of VIX futures and other futures products, the licensing of proprietary market data, as well as access and capacity services. The Global FX segment provides institutional foreign exchange (FX) trading and non-deliverable forward FX transactions services. It has strategic relationships with S&P Dow Jones Indices, LLC; Frank Russell Company; and FTSE International Limited. The company was formerly known as CBOE Holdings, Inc. and changed its name to Cboe Global Markets, Inc. in October 2017. Cboe Global Markets, Inc. was founded in 1973 and is headquartered in Chicago, Illinois.
Stock analysis
Cboe Global Markets Inc. (0HQN) currently trades at $275.39, while our model-based Fair Value estimate is $216.85, 21.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $209.57 per share, and 3 of the 11 models we run sit above the $275.39 price.
Bear case: the Asset-Based group reads lowest at $30.68, and 8 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: $129.40 (bear) to $398.86 (bull), the price of $275.39 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 77/100 (high quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cboe Global Markets Inc. reported revenue of $4.7B in FY2025 versus $3.5B in FY2021, a compound +7.8%/yr. Reported net income was $1.1B in FY2025, compounding +19.9%/yr from FY2021.
Key figures
Market cap $28.9B · P/E ratio 0.6 · P/S ratio 0.14 · EPS (TTM) $4.67 · Dividend yield 1.0% · Net margin 23.2% · Return on equity 25.1% · Return on assets (EBIT) 14.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades about 25% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −21%, 0HQN screens cheaper than that median.
Fair Value models
All 11 models by family
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Set up alert →Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 58
Revenue & earnings trend
Growth Forecast
0HQN screens overvalued: fair value 21% below the price. Compare with S&P Global Inc →
Compare Cboe Global Markets Inc. with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Data & Stock Exchanges · 52 stocks
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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| Singapore Exchange Limited S68 | 22.40 SGD | 10.44 SGD | −53% |
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Key figures of Cboe Global Markets Inc.
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