FINHUB Insights

CBOE · Q4 FY25 · Oct 1 – Dec 31, 2025

Cboe Global Markets Q4 FY25: where the revenue came from and where it went

Cboe Global Markets Q4 FY25: revenue $1.2B (+9% year over year). Net profit $0.3B. Largest cohort Transaction and Clearing Fees $1B. The whole income statement as a sankey diagram from the SEC filing.

Period
Oct 1 – Dec 31, 2025
Reported
Feb 20, 2026 10-K
Sankey diagram of Cboe Global Markets's income statement for Q4 FY25: revenue of $1.2 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$1.2B +9% year over year
Gross profit$0.7B 56% margin
Operating profit$0.4B 34% margin
Net profit$0.3B 26% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
ItemValueShare of revenueYear over year
Revenue 1.2 100% +9%
Transaction and Clearing Fees 1 83% +28%
Access and Capacity Fees 0.1 8% +11%
Market Data Fees 0.1 8% +9%
Cost of revenue−0.542%
Gross profit0.756% margin+8pp
Operating expenses−0.322%+2pp
Operating profit0.434% margin+7pp
Tax−0.1
Net profit0.326%+8pp
Filing on EDGAR More quarters of CBOE

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

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