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Investment Highlights Market Valuation Price Chart Return vs. Risk About CME Interactive Breakdown Better Bets vs. CME Latest Trefis Analyses Trade Ideas 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 (10/28/2025): $270.71 | Market Cap: $97.4 Bil
Sector: Financials | Industry: Financial Exchanges & Data

CME (CME)

Market Price (10/28/2025): $270.71
Market Cap: $97.4 Bil
Sector: Financials
Industry: Financial Exchanges & Data

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, Dividend Yield is 2.6%		 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -4.7%		 Expensive valuation multiples
P/SPrice/Sales ratio is 15x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x
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%		  Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.0%
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 6.5%, Dividend Yield is 2.6%
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 -24%, 3Y Excs Rtn is -4.7%
5 Expensive valuation multiples
P/SPrice/Sales ratio is 15x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x
6 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.0%

Market Valuation & Key Metrics

CMES&P 500
REVENUE GROWTH 
Rev LTM ($ Bil)6.4
Rev Chg Q-3.0%6.4%
Rev Chg LTM5.8%5.3%
Rev Chg 3Y Avg8.9%5.4%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)4.2
CFO LTM ($ Bil)4.2
Net Inc LTM ($ Bil)3.8
Op Mgn LTM65.0%18.7%
CFO/Rev LTM65.0%20.5%
Net Inc Mgn58.8%12.7%
VALUATIONHIGH
P/S15.23.3
P/CFO23.416.1
P/FCF23.820.9
P/E25.924.0
STABILITYGOOD
Debt/Equity0.040.21
Cash/Assets0.010.07

CME Stock

   
   
   
   
   
   
   

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
CME Return-6%29%-23%31%15%18%67%
Peers Return19%31%-14%12%10%10%82%
S&P 500 Return16%27%-19%24%23%17%110%

Monthly Win Rates [3]
CME Win Rate58%42%42%67%50%78% 
Peers Win Rate57%57%45%58%53%58% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
CME Max Drawdown-30%-2%-25%0%-7%-3% 
Peers Max Drawdown-32%-11%-32%-21%-11%-10% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: SCHW, ICE, NDAQ, CBOE, MKTX. See CME Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/27/2025 (YTD)

How Low Can It Go

Unique KeyEventCMES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-32.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven48.0%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven869 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-37.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven60.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven599 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-16.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven20.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven70 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-78.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven354.0%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3288 days1480 days

Compare to SCHW, ICE, NDAQ, CBOE, MKTX


In The Past

CME's stock fell -32.4% during the 2022 Inflation Shock from a high on 3/21/2022. A -32.4% loss requires a 48.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About CME (CME)

Interactive Breakdown

CME Interactive Breakdown Analysis

Better Bets than CME (CME)

 CMEBetter Performance than CME
MetricValueIndustry (Financial Exchanges & Data)
Rev Chg LTM5.8%SPGI (10.7%), COIN (75.2%), ICE (19.1%), MCO (8.8%), NDAQ (16.4%)
Rev Chg 3Y Avg8.9%SPGI (15.7%), COIN (18.6%), ICE (10.0%), MCO (9.8%), NDAQ (10.5%)
Op Mgn LTM65.0%
CFO/Rev LTM65.0%
FCF/Rev LTM63.8%
Total Yield6.5%FDS (6.9%), VIRT (27.6%), VALU (9.1%), MKTW (27.9%)
 CMEBetter Performance than CME
MetricValueAll Other Sectors
Rev Chg LTM5.8%NVDA (71.6%), AAPL (6.0%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg8.9%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM65.0%FNV (68.3%), VICI (92.8%), VRSN (67.6%), TPL (75.9%), RPRX (79.8%)
CFO/Rev LTM65.0%SPG (66.6%), O (67.9%), PSA (66.2%), FNV (88.1%), TPL (70.4%)
FCF/Rev LTM63.8%O (67.9%), RPRX (104.4%), WPC (76.3%), GLPI (66.6%), OHI (74.9%)
Total Yield6.5%XOM (9.6%), JNJ (8.2%), BABA (35.1%), UNH (8.8%), KO (7.1%)
 Best Bets In Financials Sector
 CMEDBRG OTF MTG NMIH ENVA FNF ACGL APAM CINF EEFT
What You Pay           
P/E25.940.713.78.47.410.314.48.610.813.510.2
P/EBIT19.466.49.46.35.57.99.27.66.310.76.2
What You Get           
Rev Chg Q-3.0%-102.4%1,228.5%-0.3%7.2%16.3%16.8%22.4%4.4%27.7%8.9%
Rev Chg LTM5.8%-84.8%89.0%3.3%10.0%21.1%7.4%23.5%10.0%9.6%8.7%
Rev Chg 3Y Avg8.9%125.8%221.9%1.2%10.1%23.5%-0.7%29.8%0.2%18.2%9.1%
FCF/Rev 3Y Avg61.9%101.2%76.2%59.8%58.8%54.7%50.8%38.4%29.0%22.1%15.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1CME Earnings Notes  
2MORN, NDAQ Look Smarter Buy Than CME StockActionable 
3How Low Can CME Stock Really Go?Return 
4Better Bet Than CME Stock: Pay Less Than CME To Get More From HLNE, FOUR   
5CME Dip Buy Analysis  
6CME YTD Stock Return Of 11% Outperforms MKTX by 19% and Underperforms ICE by -2.3%Return 
7CME Total Shareholder Return (TSR): 15.4% in 2024 and 5.3% 3-yr compounded annual returns (below peer average)  
8CME (CME) Operating Cash Flow ComparisonFinancials 
9CME (CME) Net Income ComparisonFinancials 
10CME (CME) Operating Income ComparisonFinancials 
11ARTICLES  
12Why NDAQ Could Outperform CME Stock October 25th, 2025
13Buy Or Sell CME Group Stock Ahead Of Earnings? October 20th, 2025
14With MCO Down 5.8% in a Day, Is It Time to Compare It Against CME? September 19th, 2025
15Why Isn’t CME Group Stock Performance Reflecting Its Record Revenues, Improving Margins? August 27th, 2024
16Up 25% Since The Beginning of 2023, Where Is CME Group Stock Headed? April 30th, 2024
Title
0DASHBOARDS
1Why NDAQ Could Outperform CME Stock
2Buy Or Sell CME Group Stock Ahead Of Earnings?
3With MCO Down 5.8% in a Day, Is It Time to Compare It Against CME?
4Why Isn’t CME Group Stock Performance Reflecting Its Record Revenues, Improving Margins?
5Up 25% Since The Beginning of 2023, Where Is CME Group Stock Headed?
6ARTICLES
7CME Earnings Notes
8MORN, NDAQ Look Smarter Buy Than CME Stock
9How Low Can CME Stock Really Go?
10Better Bet Than CME Stock: Pay Less Than CME To Get More From HLNE, FOUR 
11CME Dip Buy Analysis
12CME YTD Stock Return Of 11% Outperforms MKTX by 19% and Underperforms ICE by -2.3%
13CME Total Shareholder Return (TSR): 15.4% in 2024 and 5.3% 3-yr compounded annual returns (below peer average)
14CME (CME) Operating Cash Flow Comparison
15CME (CME) Net Income Comparison
16CME (CME) Operating Income Comparison

Trade Ideas

Select past ideas related to CME. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-11.9%-11.9%-12.7%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		8.7%8.7%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		4.3%4.3%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.3%-1.3%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		14.3%14.3%0.0%
CME_10312022_Dip_Buyer_ValueBuy10312022CMECMEDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		11.9%29.4%-2.1%
CME_10312020_Dip_Buyer_FCFYield10312020CMECMEDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		37.1%51.0%-0.2%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-11.9%-11.9%-12.7%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		8.7%8.7%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		4.3%4.3%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-1.3%-1.3%-4.9%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		14.3%14.3%0.0%
CME_10312022_Dip_Buyer_ValueBuy10312022CMECMEDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		11.9%29.4%-2.1%
CME_10312020_Dip_Buyer_FCFYield10312020CMECMEDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		37.1%51.0%-0.2%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed2452.9%363.8%
2PRAXPraxis Precision Medicines254.6%141.6%
3NVTSNavitas Semiconductor116.3%289.6%
4VICRVicor84.9%86.3%
5DYNDyne Therapeutics83.8%2.6%
6ORKAOruka Therapeutics82.2%42.9%
7SNDKSanDisk81.7% 
8INBXInhibrx Biosciences80.1%282.1%
9CIFRCipher Mining79.1%342.7%
10BITFBitfarms78.7%204.7%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-45.4%7439.7%
2VGVenture Global-36.9% 
3SOCSable Offshore-34.9%-43.9%
4OGNOrganon-30.9%-51.6%
5ITGRInteger-30.8%-47.0%
6USNAUsana Health Sciences-29.5%-44.0%
7FWRDForward Air-26.0%-38.7%
8NFENew Fortress Energy-25.6%-89.6%
9LENZLENZ Therapeutics-25.6%8.4%
10RCReady Capital-24.7%-49.9%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for CME

Financials

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Mkt Price271.0994.84159.8488.78238.27167.55163.69
Mkt Cap97.5172.391.750.924.96.271.3
Rev LTM6,39721,62612,1898,1684,5328377,283
Op Inc LTM4,157-4,5672,3221,3163472,322
FCF LTM4,08417,1803,7702,098-1133522,934
FCF 3Y Avg3,67412,2473,3691,7281,0903012,548
CFO LTM4,16117,8074,5662,335-424053,248
CFO 3Y Avg3,75612,9133,9721,9201,1503572,838

Growth & Margins

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Rev Chg LTM5.8%16.9%19.1%16.4%19.0%7.7%16.7%
Rev Chg 3Y Avg8.9%5.0%10.0%10.5%7.9%6.4%8.4%
Rev Chg Q-3.0%24.8%15.3%2.9%20.5%11.0%13.2%
QoQ Delta Rev Chg LTM-0.7%5.7%3.6%0.7%4.6%2.7%3.2%
Op Mgn LTM65.0%-37.5%28.4%29.0%41.5%37.5%
Op Mgn 3Y Avg63.1%-38.6%28.1%28.1%42.2%38.6%
QoQ Delta Op Mgn LTM-0.3%--0.1%1.4%0.2%0.2%0.2%
CFO/Rev LTM65.0%82.3%37.5%28.6%-0.9%48.3%42.9%
CFO/Rev 3Y Avg63.3%62.9%37.1%27.2%30.1%45.6%41.3%
FCF/Rev LTM63.8%79.4%30.9%25.7%-2.5%42.0%36.5%
FCF/Rev 3Y Avg61.9%59.6%31.5%24.5%28.7%38.3%34.9%

Valuation

CMESCHWICENDAQCBOEMKTXMedian
NameCME Charles .Intercon.Nasdaq Cboe Glo.MarketAx. 
Mkt Cap97.5172.391.750.924.96.271.3
P/S15.28.07.56.25.57.47.5
P/EBIT19.4-19.921.518.816.819.4
P/E25.923.733.031.327.728.027.8
P/CFO23.49.720.121.8-589.815.417.7
Total Yield6.5%4.2%4.2%4.3%4.7%5.4%4.5%
Dividend Yield2.6%0.0%1.2%1.2%1.1%1.8%1.2%
FCF Yield 3Y Avg4.5%9.1%4.2%4.8%6.4%3.6%4.6%
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 Rtn0.3%-0.6%-4.7%1.5%-2.2%-7.0%-1.4%
3M Rtn-0.6%-2.9%-12.3%-6.4%-1.1%-19.3%-4.6%
6M Rtn2.1%19.0%-1.7%18.9%12.9%-23.1%7.5%
12M Rtn25.2%33.7%-2.2%20.3%13.3%-40.9%16.8%
3Y Rtn78.3%23.9%72.0%48.8%97.5%-29.2%60.4%
1M Excs Rtn-3.2%-4.1%-8.2%-2.0%-5.6%-10.5%-4.9%
3M Excs Rtn-8.7%-10.8%-21.1%-15.0%-8.2%-27.0%-12.9%
6M Excs Rtn-22.2%-5.4%-26.0%-5.4%-11.4%-47.5%-16.8%
12M Excs Rtn6.1%15.4%-20.6%3.0%-5.7%-60.0%-1.3%
3Y Excs Rtn-4.7%-41.5%-3.5%-24.6%20.7%-112.7%-14.6%

Financials

$ Mil | FY: 12/312025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End9/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/2022
Filing Date10/24/20257/25/20254/30/20252/27/202511/8/20248/5/20245/1/20242/28/202411/1/20238/2/20235/3/20232/27/2023
Key Financials Quarterly            
Total Revenue1,5381,6921,6421,5251,5841,5321,4881,4391,3381,3601,4421,208
Ebitda1,3041,4581,3691,2211,3011,2791,2391,1321,1021,1461,286958
Operating Income9731,1291,1089471,0241,001960863820839914668
Net Income9081,025956875913883855815750778884638
EPS2.492.812.632.402.512.432.352.242.062.142.431.76
Key Financials TTM            
Total Revenue TTM6,3976,4446,2846,1306,0445,7985,6255,5795,3475,2375,1145,019
Ebitda TTM5,3515,3485,1705,0394,9504,7524,6194,6664,4914,4004,2504,016
Operating Income TTM4,1574,2094,0803,9323,8483,6443,4823,4363,2413,1593,0703,016
Net Income TTM3,7643,7693,6273,5263,4663,3033,1983,2263,0502,9792,8642,691
Growth Rates Quarterly            
Total Revenue Growth-3.0%10.4%10.4%6.0%18.4%12.7%3.2%19.2%9.0%9.9%7.1%5.3%
EBITDA Growth0.2%14.0%10.5%7.8%18.0%11.6%-3.6%18.2%9.1%15.0%22.3%2.4%
Operating Income Growth-5.0%12.9%15.5%9.7%24.9%19.3%5.0%29.2%11.0%11.9%6.4%5.8%
Net Income Growth-0.5%16.1%11.8%7.4%21.7%13.6%-3.2%27.7%10.4%17.4%24.3%2.0%
Margins Quarterly            
EBITDA Margin84.8%86.2%83.4%80.0%82.1%83.4%83.2%78.6%82.4%84.2%89.2%79.3%
Operating Income Margin63.3%66.7%67.5%62.1%64.6%65.3%64.5%60.0%61.3%61.7%63.4%55.3%
Net Income Margin59.1%60.6%58.2%57.3%57.6%57.6%57.5%56.6%56.1%57.2%61.3%52.8%
Cash & Debt            
Total Cash2,5702,0991,5193,0062,4341,9121,5583,0242,4041,9871,6702,816
Total Debt3,4213,4203,4193,4283,4273,4273,4263,4253,4253,4243,4393,438
Net Debt / (Cash)8511,3221,9004229931,5151,8684021,0201,4371,769622
Cash Flows Quarterly            
FCF from Operations9681,0581,1171,0181,0037778931,044857650902982
Cash Flows TTM            
FCF from Operations TTM4,1614,1963,9143,6903,7173,5713,4443,4543,3913,1923,1593,056
Returns to Shareholders Quarterly            
Dividends4554552,5674194184182,3284004004002,036364
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC12.9%14.6%14.0%13.3%13.6%12.9%12.2%12.3%10.9%10.9%11.7%9.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM13.8%13.7%13.1%13.4%12.8%11.9%11.2%11.8%10.7%10.3%9.9%10.2%

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 060  
Cash markets business   447483
Total5,5795,0194,6904,8844,868


Price Behavior

CME Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-0.29-0.39-0.30-0.03-0.070.12
Up Beta0.30-0.13-0.21-0.10-0.130.06
Down Beta-0.28-0.51-1.190.120.020.16
Up Capture-6%-42%-11%-1%6%5%
Bmk +ve Days13233574144420
Stock +ve Days12213572148410
Down Capture-85%-48%-6%-11%-31%12%
Bmk -ve Days8192952107330
Stock -ve Days9212954103341

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

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity4,493,938
Short Interest: % Change Since 93020258.9%
Average Daily Volume1,920,990
Days-to-Cover Short Interest2.34
Basic Shares Quantity359,686,000
Short % of Basic Shares1.2%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/22/2025-0.3%  
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%
...
SUMMARY STATS   
# Positive10814
# Negative151711
Median Positive3.2%3.2%5.6%
Median Negative-1.5%-1.4%-3.3%
Max Positive5.9%4.8%9.6%
Max Negative-6.2%-3.8%-18.3%

SEC Filings

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Report DateFiling DateFiling
93020251024202510-Q 9/30/2025
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

Insider Activity

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 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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