**Cboe Global Markets Reports Fiscal Year 2025 Results**
Cboe Global Markets, Inc. (CBOE) has released its 10-K filing, detailing the company's financial performance for the fiscal year 2025. The company reported total revenues of $4.71 billion, a 15% increase compared to $4.09 billion in 2024. Revenues less cost of revenues totaled $2.43 billion, up 17% from $2.07 billion in the previous year. The increase in revenues was primarily driven by higher transaction and clearing fees, resulting from increased volumes traded on the Cboe options, U.S. equities, and European equities exchanges.
Net income allocated to common stockholders reached $1.09 billion, or $10.42 per diluted share, compared to $761.0 million, or $7.21 per diluted share, in 2024. Operating income increased by 34% to $1.47 billion, with an operating margin of 60.4%. The company's adjusted EBITDA was $1.65 billion, representing a 67.7% margin. The increase in operating income was partially offset by a decrease in regulatory fees due to a decrease in the Section 31 fee rate following a rate change in May 2025.
Strategic developments in 2025 included the wind down of its Japanese equities business, the initiation of a sales process for its Cboe Australia and Cboe Canada businesses, and the discontinuation of its U.S. and European Corporate Listings efforts. The company also completed the migration of cash-settled Bitcoin and Ether futures contracts from Cboe Digital Exchange to CFE. Employee headcount as of December 31, 2025, was 1,661, with 1,102 based in the United States.
Looking ahead, Cboe's strategic focus remains on leveraging its core strengths in Index Options, Multi-Listed Options, Futures, U.S. Equities, European Equities, and Global FX, while expanding Data Vantage offerings. The company aims to capitalize on emerging industry trends and maintain a disciplined approach to capital allocation. Subsequent to December 31, 2025, Cboe initiated the wind down of CEDX, its pan-European derivatives platform.
About Cboe Global Markets, Inc.
Cboe Global Markets, Inc. operates a global network of derivatives and securities exchanges, offering trading, clearing, and investment solutions across equities, options, futures, and FX markets. Its core products include proprietary index options, volatility products like VIX, and a broad range of market data services. Serving institutional and retail clients worldwide, Cboe leverages advanced technology and strategic partnerships to provide efficient, liquid markets and innovative financial products.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.