FINHUB Insights

CBOE · Q3 FY25 · Jul 1 – Sep 30, 2025

Cboe Global Markets Q3 FY25: where the revenue came from and where it went

Cboe Global Markets Q3 FY25: revenue $1.1B (+8% year over year). Net profit $0.3B. Largest cohort Transaction and Clearing Fees $0.9B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jul 1 – Sep 30, 2025
Reported
Oct 31, 2025 10-Q
Sankey diagram of Cboe Global Markets's income statement for Q3 FY25: revenue of $1.1 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$1.1B +8% year over year
Gross profit$0.6B 53% margin
Operating profit$0.4B 32% margin
Net profit$0.3B 26% margin

The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 1.1 100% +8%
Transaction and Clearing Fees 0.9 82% +27%
Access and Capacity Fees 0.1 9% +10%
Market Data Fees 0.1 9% +14%
Cost of revenue−0.545%
Gross profit0.653% margin+3pp
Operating expenses−0.221%−1pp
Operating profit0.432% margin+3pp
Tax−0.2
Net profit0.326%+6pp
Filing on EDGAR More quarters of CBOE

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

Older quarters