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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. CME Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

CME (CME)

Market Price (9/17/2025): $260.49 | Market Cap: $93.7 Bil
Sector: Financials | Industry: Financial Exchanges & Data

CME (CME)

Market Price (9/17/2025): $260.49
Market Cap: $93.7 Bil
Sector: Financials
Industry: Financial Exchanges & Data

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 2.7%		 Weak multi-year price returns
2Y Excs Rtn is -10%, 3Y Excs Rtn is -14%		 Expensive valuation multiples
P/SPrice/Sales ratio is 15x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 22x
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 65%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 65%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%, CFO LTM is 4.2 Bil, FCF LTM is 4.1 Bil		  
3 Low stock price volatility
Vol 12M is 18%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, Dividend Yield is 2.7%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 65%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 65%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%, CFO LTM is 4.2 Bil, FCF LTM is 4.1 Bil
3 Low stock price volatility
Vol 12M is 18%
4 Weak multi-year price returns
2Y Excs Rtn is -10%, 3Y Excs Rtn is -14%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 15x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 22x

Market Valuation

 9/17/252024202320222021
Share Price CYE$260.49$228.94$198.37$151.06$195.90
Market Cap CYE ($ Bil)93.782.371.354.270.2
Total Debt ($ Bil)3.43.43.43.43.4
Total Cash ($ Bil)2.13.03.02.82.9
Enterprise Value ($ Bil)95.085.774.757.673.6
Valuation Ratios     
P/S TTM14.513.613.612.017.5
P/EBIT TTM18.717.817.516.523.1
P/E TTM24.923.723.422.431.1
Sector Ratios     
P/S TTM (Sector)3.23.12.82.83.4
P/EBIT TTM (Sector)7.16.97.17.17.0
P/E TTM (Sector)12.911.610.19.410.0
 9/17/2520242023
Share Price CYE$260.49$228.94$198.37
Market Cap CYE ($ Bil)93.782.371.3
Total Debt ($ Bil)3.43.43.4
Total Cash ($ Bil)2.13.03.0
Enterprise Value ($ Bil)95.085.774.7
Valuation Ratios   
P/S TTM14.513.613.6
P/EBIT TTM18.717.817.5
P/E TTM24.923.723.4
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)7.16.97.1
P/E TTM (Sector)12.911.610.1

Market Cap Chart

Business Description

CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products. The company also provides clearing house services, including clearing, settling, and guaranteeing futures and options contracts, and cleared swaps products traded through its exchanges; and trade processing and risk mitigation services. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CME Return-6%29%-23%31%15%13%62%
Peers Return19%31%-14%12%10%13%86%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: SCHW, ICE, NDAQ, CBOE, MKTX. See CME Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Interactive Breakdown

CME Interactive Breakdown Analysis

Better Bets than CME (CME)

 CMEBetter Performance than CME
MetricValueIndustry (Financial Exchanges & Data)
Rev Chg LTM11.2%ICE (19.1%), MCO (11.5%), COIN (75.2%), NDAQ (23.6%), CBOE (19.0%)
Rev Chg 3Y Avg10.0%SPGI (15.7%), ICE (10.0%), COIN (18.6%), NDAQ (11.5%), MSCI (11.1%)
Op Mgn LTM65.3%
CFO/Rev LTM65.1%
FCF/Rev LTM63.7%
Total Yield6.8%VIRT (26.4%), VALU (8.9%), MKTW (23.3%)
 CMEBetter Performance than CME
MetricValueAll Other Sectors
Rev Chg LTM11.2%NVDA (71.6%), MSFT (14.9%), GOOGL (13.1%), META (19.4%), AVGO (28.0%)
Rev Chg 3Y Avg10.0%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM65.3%FNV (68.3%), VICI (92.8%), VRSN (67.9%), TPL (75.9%), RPRX (79.8%)
CFO/Rev LTM65.1%SPG (66.6%), O (67.9%), PSA (66.2%), FNV (88.1%), TPL (70.4%)
FCF/Rev LTM63.7%O (67.9%), WPC (76.3%), RPRX (104.4%), GLPI (66.6%), OHI (74.9%)
Total Yield6.8%XOM (9.7%), JNJ (8.2%), BABA (38.9%), UNH (9.4%), KO (7.2%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1CME Earnings Notes  
2Better Bet Than CME Stock: Pay Less Than CME To Get More From GOOGL, BKNG   
3Better Bet Than CME Stock: Pay Less Than CME To Get More From HLNE, FOUR   
4CME Dip Buy Analysis  
5CME YTD Stock Return Of 11% Outperforms MKTX by 19% and Underperforms ICE by -2.3%Return 
6CME Total Shareholder Return (TSR): 15.4% in 2024 and 5.3% 3-yr compounded annual returns (below peer average)  
7CME (CME) Operating Cash Flow ComparisonFinancials 
8CME (CME) Net Income ComparisonFinancials 
9CME (CME) Operating Income ComparisonFinancials 
10CME (CME) Revenue ComparisonFinancials 
11ARTICLES  
12Why Isn’t CME Group Stock Performance Reflecting Its Record Revenues, Improving Margins? August 27th, 2024
13Up 25% Since The Beginning of 2023, Where Is CME Group Stock Headed? April 30th, 2024
14Up 26% YTD, What’s Next For CME Group Stock? December 19th, 2023
15What To Expect From CME Group Stock? August 29th, 2023
16What To Expect From CME Group Stock? May 22nd, 2023
Title
0DASHBOARDS
1Why Isn’t CME Group Stock Performance Reflecting Its Record Revenues, Improving Margins?
2Up 25% Since The Beginning of 2023, Where Is CME Group Stock Headed?
3Up 26% YTD, What’s Next For CME Group Stock?
4What To Expect From CME Group Stock?
5What To Expect From CME Group Stock?
6ARTICLES
7CME Earnings Notes
8Better Bet Than CME Stock: Pay Less Than CME To Get More From GOOGL, BKNG 
9Better Bet Than CME Stock: Pay Less Than CME To Get More From HLNE, FOUR 
10CME Dip Buy Analysis
11CME YTD Stock Return Of 11% Outperforms MKTX by 19% and Underperforms ICE by -2.3%
12CME Total Shareholder Return (TSR): 15.4% in 2024 and 5.3% 3-yr compounded annual returns (below peer average)
13CME (CME) Operating Cash Flow Comparison
14CME (CME) Net Income Comparison
15CME (CME) Operating Income Comparison
16CME (CME) Revenue Comparison

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11963.5%11963.5%
2GIBOGIBO9734.4% 
3CHSNChanson International7565.0%-99.3%
4LNZALanzaTech Global7287.5%-86.0%
5QMMMQMMM3031.7%6775.0%
6OESXOrion Energy Systems1497.9%22.9%
7CURXCuranex Pharmaceuticals1401.6%1401.6%
8ENTOEntero Therapeutics565.6%117.6%
9PTNMPitanium553.2% 
10WLDSWearable Devices449.5%-30.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-92.2%-95.0%
2STFSStar Fashion Culture-92.2%-97.8%
3ELPWElong Power-91.6%-76.7%
4NXTTNext Technology-89.6%-95.1%
5NAKAKindly MD-89.0% 
6BINIBollinger Innovations-88.9%-100.0%
7JEM707 Cayman-88.4%-98.2%
8YAASYouxin Technology-82.5%-98.3%
9NEONNeonode-82.0%-50.2%
10NVNOenVVeno Medical-81.5%-69.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for CME

Financials

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Mkt Price259.8391.03171.4092.54233.74182.94177.17
Mkt Cap93.4165.498.453.124.56.873.3
Rev LTM6,44421,62612,1898,1124,5328377,278
Op Inc LTM4,209-4,5672,1951,3163472,195
FCF LTM4,10717,1803,7702,134-1133522,952
FCF 3Y Avg3,56912,2473,3691,7411,0903012,555
CFO LTM4,19617,8074,5662,358-424053,277
CFO 3Y Avg3,65312,9133,9721,9231,1503572,788

Growth & Margins

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Rev Chg LTM11.2%16.9%19.1%23.6%19.0%7.7%17.9%
Rev Chg 3Y Avg10.0%5.0%10.0%11.5%7.9%6.4%9.0%
Rev Chg Q10.4%24.8%15.3%16.6%20.5%11.0%16.0%
QoQ Delta Rev Chg LTM2.5%5.7%3.6%3.8%4.6%2.7%3.7%
Op Mgn LTM65.3%-37.5%27.1%29.0%41.5%37.5%
Op Mgn 3Y Avg62.8%-38.6%27.7%28.1%42.2%38.6%
QoQ Delta Op Mgn LTM0.4%--0.1%0.4%0.2%0.2%0.2%
CFO/Rev LTM65.1%82.3%37.5%29.1%-0.9%48.3%42.9%
CFO/Rev 3Y Avg62.6%62.9%37.1%27.7%30.1%45.6%41.3%
FCF/Rev LTM63.7%79.4%30.9%26.3%-2.5%42.0%36.5%
FCF/Rev 3Y Avg61.1%59.6%31.5%25.0%28.7%38.3%34.9%

Valuation

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Mkt Cap93.4165.498.453.124.56.873.3
P/S14.57.68.16.55.48.17.9
P/EBIT18.6-21.424.018.518.318.6
P/E24.822.735.335.227.230.528.9
P/CFO22.39.321.522.5-578.516.819.2
Total Yield6.8%4.4%3.9%3.9%4.8%4.9%4.6%
Dividend Yield2.7%0.0%1.1%1.1%1.1%1.7%1.1%
FCF Yield 3Y Avg4.6%9.1%4.2%5.0%6.4%3.6%4.8%
D/E0.00.20.20.20.10.00.1
Net D/E0.0-0.40.20.10.0-0.10.0

Returns

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
1M Rtn-4.7%-5.3%-5.1%-2.0%-5.3%-3.7%-4.9%
3M Rtn-3.2%2.6%-5.0%8.0%4.0%-18.1%-0.3%
6M Rtn-1.6%18.1%-0.3%23.6%7.0%-15.5%3.4%
12M Rtn24.2%44.8%7.1%27.8%11.2%-28.6%17.7%
3Y Rtn55.9%32.7%83.3%58.3%101.6%-25.0%57.1%
1M Excs Rtn-7.1%-7.7%-7.6%-4.4%-7.8%-6.2%-7.4%
3M Excs Rtn-11.9%-6.9%-13.9%-2.4%-5.1%-28.2%-9.4%
6M Excs Rtn-16.9%1.3%-16.7%8.5%-7.5%-32.0%-12.1%
12M Excs Rtn6.8%31.3%-10.2%11.4%-5.3%-46.0%0.8%
3Y Excs Rtn-14.1%-34.5%10.7%-9.3%33.6%-91.3%-11.7%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/25/20254/30/20252/27/202511/8/20248/5/20245/1/20242/28/202411/1/20238/2/20235/3/20232/27/202311/2/2022
Key Financials Quarterly            
Total Revenue1,6921,6421,5251,5841,5321,4881,4391,3381,3601,4421,2081,228
Ebitda1,4581,3691,2211,3011,2791,2391,1321,1021,1461,2869581,010
Operating Income1,1291,1089471,0241,001960863820839914668739
Net Income1,025956875913883855815750778884638680
EPS2.812.632.402.512.432.352.242.062.142.431.761.87
Key Financials TTM            
Total Revenue TTM6,4446,2846,1306,0445,7985,6255,5795,3475,2375,1145,0194,959
Ebitda TTM5,3485,1705,0394,9504,7524,6194,6664,4914,4004,2504,0163,994
Operating Income TTM4,2094,0803,9323,8483,6443,4823,4363,2413,1593,0703,0162,979
Net Income TTM3,7693,6273,5263,4663,3033,1983,2263,0502,9792,8642,6912,678
Growth Rates Quarterly            
Total Revenue Growth10.4%10.4%6.0%18.4%12.7%3.2%19.2%9.0%9.9%7.1%5.3%10.6%
EBITDA Growth14.0%10.5%7.8%18.0%11.6%-3.6%18.2%9.1%15.0%22.3%2.4%-18.1%
Operating Income Growth12.9%15.5%9.7%24.9%19.3%5.0%29.2%11.0%11.9%6.4%5.8%20.4%
Net Income Growth16.1%11.8%7.4%21.7%13.6%-3.2%27.7%10.4%17.4%24.3%2.0%-26.6%
Margins Quarterly            
EBITDA Margin86.2%83.4%80.0%82.1%83.4%83.2%78.6%82.4%84.2%89.2%79.3%82.3%
Operating Income Margin66.7%67.5%62.1%64.6%65.3%64.5%60.0%61.3%61.7%63.4%55.3%60.2%
Net Income Margin60.6%58.2%57.3%57.6%57.6%57.5%56.6%56.1%57.2%61.3%52.8%55.4%
Cash & Debt            
Total Cash2,0991,5193,0062,4341,9121,5583,0242,4041,9871,6702,8162,221
Total Debt3,4203,4193,4283,4273,4273,4263,4253,4253,4243,4393,4383,436
Net Debt / (Cash)1,3221,9004229931,5151,8684021,0201,4371,7696221,215
Cash Flows Quarterly            
FCF from Operations1,0581,1171,0181,0037778931,044857650902982658
Cash Flows TTM            
FCF from Operations TTM4,1963,9143,6903,7173,5713,4443,4543,3913,1923,1593,0562,743
Returns to Shareholders Quarterly            
Dividends4552,5674194184182,3284004004002,036364363
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC14.6%14.0%13.3%13.6%12.9%12.2%12.3%10.9%10.9%11.7%9.1%9.8%
Return on Invested Capital (ROIC) TTM            
ROIC TTM13.7%13.1%13.4%12.8%11.9%11.2%11.8%10.7%10.3%9.9%10.2%9.9%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Interest rates1,5581,3271,1221,0081,278
Equity indexes1,0361,016752804584
Energy703586616699684
Market data and information services664611577545518
Agricultural commodities508445458462452
Other327266348441403
Metals225197199248239
Foreign exchange190188159163159
BrokerTec fixed income152165172  
Electronic Broking Services (EBS) foreign exchange133154164  
Interest rate swap8365636567
Optimization  60  
Cash markets business   447483
Total5,5795,0194,6904,8844,868


Price Behavior

CME Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta-0.44-0.23-0.27-0.05-0.060.15
Up Beta0.05-0.58-0.55-0.12-0.160.05
Down Beta-0.62-1.12-0.800.020.030.23
Up Capture-74%3%-21%3%8%5%
Bmk +ve Days10223571142415
Stock +ve Days9223170143404
Down Capture-25%56%33%-9%-22%27%
Bmk -ve Days11192754106334
Stock -ve Days12193155105346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity4,516,523
Short Interest: % Change Since 8152025-11.1%
Average Daily Volume1,816,485
Days-to-Cover Short Interest2.49
Basic Shares Quantity359,658,000
Short % of Basic Shares1.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/20250.7%-0.0%-0.0%
4/23/2025-1.5%2.6%6.1%
2/12/20253.0%3.7%8.0%
10/23/20240.4%0.4%0.8%
7/24/2024-0.1%-0.1%6.1%
4/24/2024-1.9%-3.3%-2.4%
2/14/20243.7%3.6%6.3%
10/25/2023-0.1%-0.4%1.0%
...
SUMMARY STATS   
# Positive10915
# Negative151610
Median Positive3.2%3.6%5.6%
Median Negative-1.5%-1.4%-3.3%
Max Positive5.9%5.6%9.6%
Max Negative-6.2%-3.8%-18.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025725202510-Q 6/30/2025
3312025430202510-Q 3/31/2025
12312024227202510-K 12/31/2024
93020241108202410-Q 9/30/2024
6302024805202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023228202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023503202310-Q 3/31/2023
12312022227202310-K 12/31/2022
93020221102202210-Q 9/30/2022
6302022803202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Cutinho SunilChief Information Officer8262025Sell272.105,9301,613,5536,368,773Form
1Carey Charles P 6112025Sell265.3615039,8041,393,140Form
2Kaye Daniel G 5232025Sell282.42500141,2101,035,914Form
3Marcus Jonathan LSr MD General Counsel5212025Sell277.50390108,2251,861,470Form
4Lockett Phyllis M 5202025Sell277.881,060294,553863,651Form

Industry Resources

External Quote Links


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