CBOE Cboe Global Markets
FY2025 10-K
Cboe Global Markets (CBOE) filed its fiscal year 2025 10-K annual report with the SEC on Feb 20, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: global operator of derivatives, equities, FX markets and clearing with proprietary volatility products and market data services
- • New products: launched cash-settled futures/options on Cboe Magnificent 10 Index, S&P 500 Equal Weight Index options, Cboe FTSE Bitcoin Index Futures, continuous Bitcoin and Ether futures
Management Discussion & Analysis
- • No revenue or profitability metrics disclosed in this MD&A excerpt
- • Noted foreign currency net equity investments: British pounds $596.3M, Euros $222.5M, Canadian dollars $214.7M, 10% adverse FX impact up to $59.6M
Risk Factors
- • Regulatory risk: Potential non-renewal or loss of exclusive S&P 500 and VIX Index licenses generating 68% of 2025 revenues less cost of revenues
- • Macroeconomic threat: Global economic, political, and geopolitical conditions impacting trading volumes across U.S., Europe, Canada, and Australia exposure
Financial SummaryXBRL
Revenue
$4.7B
Net Income
$1.1B
Gross Margin
51.5%
Operating Margin
31.1%
Net Margin
23.3%
ROE
21.4%
Total Assets
$9.3B
EPS (Diluted)
$10.42
Operating Cash Flow
$1.8B
Source: XBRL data from Cboe Global Markets FY2025 10-K filing on SEC EDGAR. All figures in USD.
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