CME Group (CME) FY2025 10-K Annual Report
CME Group (CME) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CME Group FY2025 10-K Analysis
Business Overview
- • Global derivatives exchange operator: trading, clearing, and data services across interest rates, equities, FX, commodities, and crypto
- • Two new 2025 platform launches: BrokerTec Chicago (second CLOB for cash U.S. Treasuries co-located with futures) and FX Spot+ (connects OTC spot FX with futures liquidity)
Management Discussion & Analysis
- • Revenue $6,520.6M in 2025, up ~6.4% YoY from $6,130.1M; clearing & transaction fees $5,281.1M (+5.9%), market data $803.1M (+13.1%)
- • Operating margin 64.9% vs 64.1% in 2024; net income $4,072.2M vs $3,525.8M; diluted EPS $11.16 vs $9.67
Risk Factors
- • FMX Futures Exchange and prediction market platforms (via FanDuel JV) directly targeting CME's derivatives and event-contract segments; litigation ongoing across multiple jurisdictions
- • Basel III Endgame and potential GSIB capital surcharge changes could raise bank clearing firm capital requirements, reducing their trading activity in CME markets
CME Group FY2025 Key Financial MetricsXBRL
Revenue
$6.5B
▲ +6.4% YoY
Net Income
$4.1B
▲ +15.5% YoY
Operating Margin
64.9%
▲ +73bp YoY
Net Margin
62.5%
▲ +494bp YoY
ROE
14.2%
▲ +86bp YoY
Total Assets
$198.4B
▲ +44.4% YoY
EPS (Diluted)
$11.16
▲ +15.4% YoY
Operating Cash Flow
$4.3B
▲ +15.9% YoY
Source: XBRL data from CME Group FY2025 10-K filing on SEC EDGAR. All figures in USD.
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