CBOE Cboe Global Markets

Q3 2025 10-Q

Filed: Oct 31, 2025Period ending Sep 30, 2025

Financials

Security & Commodity Brokers, Dealers, Exchanges & ServicesSEC EDGAR

Cboe Global Markets (CBOE) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 31, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue $1.142B Q3 2025, up 8% YoY from $1.056B; 9-month revenue $3.510B, up 18% YoY from $2.987B
• Operating margin 61.2% Q3 2025 vs 57.8% Q3 2024; 9-month margin 60.5% vs 51.7% YoY

+3 more insights

Risk Factors

• New risk: Substantial executive turnover in 2025, including CEO starting May 7 and EVP of Global Derivatives starting October 1, risking business disruption
• Updated operational risk: Challenges retaining technology personnel amid substantial competition, impacting systems reliability and profitability

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Quarterly Financial Summary
XBRL

Revenue

$1.1B

▲ +8.1% YoY▼ -2.7% QoQ

Net Income

$301M

▲ +38.4% YoY▲ +27.9% QoQ

Gross Margin

53.0%

▲ +264bp YoY▲ +299bp QoQ

Operating Margin

32.4%

▲ +332bp YoY▲ +354bp QoQ

Net Margin

26.3%

▲ +575bp YoY▲ +631bp QoQ

ROE

6.2%

Total Assets

$9.1B

EPS (Diluted)

$2.85

▲ +37.7% YoY▲ +27.8% QoQ

Operating Cash Flow

$154M

▲ +126.6% YoY▼ -53.9% QoQ

Source: XBRL data from Cboe Global Markets Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

Other Cboe Global Markets Quarterly Reports

Q2 2025 10-Q

Q1 2025 10-Q

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