Cboe Global Markets

CBOE · Financials · Market cap $31.4B

Q1 FY26 Jan 1 – Mar 31, 2026 reported May 1, 2026

Revenue$1.27B +7% year over year

Gross profit$0.73B

Operating profit$0.51B

Net profit$0.39B 30% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	1.27	100%	+7%
Transaction and Clearing Fees	1.03	81%	+23%
Access and Capacity Fees	0.11	9%	+16%
Market Data Fees	0.09	7%	+18%
Other Revenue	0.03	2%	+24%
Regulatory Fees	0.01	1%	−94%
Cost of revenue	−0.54	43%
Gross profit	0.73	57% margin	+10pp
Operating expenses	−0.22	18%	+0pp
Operating profit	0.51	40% margin	+10pp
Tax	−0.13
Net profit	0.39	30%	+9pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.20	100%	+9%
Transaction and Clearing Fees	0.98	81%	+28%
Access and Capacity Fees	0.11	9%	+11%
Market Data Fees	0.08	7%	+9%
Other Revenue	0.02	2%	+0%
Regulatory Fees	0.02	1%	−90%
Cost of revenue	−0.53	44%
Gross profit	0.67	56% margin	+8pp
Operating expenses	−0.27	22%	+2pp
Operating profit	0.40	34% margin	+7pp
Tax	−0.14
Net profit	0.31	26%	+8pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.14	100%	+8%
Transaction and Clearing Fees	0.92	81%	+27%
Access and Capacity Fees	0.10	9%	+10%
Market Data Fees	0.08	7%	+14%
Other Revenue	0.02	2%	−3%
Regulatory Fees	0.01	1%	−92%
Cost of revenue	−0.54	47%
Gross profit	0.61	53% margin	+3pp
Operating expenses	−0.24	21%	−1pp
Operating profit	0.37	32% margin	+3pp
Tax	−0.13
Net profit	0.30	26%	+6pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.17	100%	+20%
Transaction and Clearing Fees	0.87	74%	+24%
Access and Capacity Fees	0.10	9%	+12%
Regulatory Fees	0.10	8%	+13%
Market Data Fees	0.08	7%	+12%
Other Revenue	0.03	2%	−3%
Cost of revenue	−0.59	50%
Gross profit	0.59	50% margin	−3pp
Operating expenses	−0.25	21%	−10pp
Operating profit	0.34	29% margin	+7pp
Tax	−0.10
Net profit	0.24	20%	+6pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	May 1, 2026	$1.3B	+7%	40%	$0.39B	30%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 20, 2026	$1.2B	+9%	34%	$0.31B	26%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 31, 2025	$1.1B	+8%	32%	$0.30B	26%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 1, 2025	$1.2B	+20%	29%	$0.24B	20%