Cboe Global Markets Achieves Record Financial Growth in 2025 with Impressive EPS and Revenue Results
On February 6, 2026, Cboe Global Markets, Inc. (Cboe CBOE) announced its impressive financial results for both the fourth quarter and full year of 2025. The key highlights showcase a significant increase in earnings and revenues, marking a period of robust growth for the exchange network.
In the fourth quarter of 2025, Cboe achieved a record diluted earnings per share of $2.97, reflecting a remarkable 60% increase compared to the same quarter in the previous year. For the entire year, the diluted EPS reached $10.42, signifying a 45% year-over-year growth. Additionally, the adjusted diluted EPS for the quarter was recorded at $3.06, representing a 46% rise. This increase in profitability underscores the effectiveness of the company’s strategic initiatives and operational efficiencies.
Cboe's total net revenue for the fourth quarter was reported at $671.1 million, which is a 28% increase from $524.5 million in the same period of 2024. This growth was primarily driven by robust performance in their Derivatives business, where revenue accelerated by 38%, powered by record volumes in index and multi-listed options products. The full-year revenue also saw significant growth, reaching $2.4 billion, a 17% increase compared to the previous year.
Craig Donohue, Cboe's CEO, expressed his satisfaction with the results, emphasizing the successful execution of the company's growth strategy and the strong foundation laid for 2026. He noted that the organizational realignment within Cboe allows for better resource allocation, emphasizing growth and value creation in its core businesses while positioning the company to seize emerging opportunities.
In terms of segment performance, the Options market reported net revenue of $433.1 million, up 34% from $324.3 million a year earlier, fueled by a substantial increase in average daily volume of options traded. The North American Equities segment also saw growth, achieving net revenue of $110.7 million, up 17% from the previous year's fourth quarter. The revenue from Europe and Asia Pacific stood at $69.9 million, a 24% increase.
Despite the impressive revenue growth, Cboe's overall operating expenses rose to $267.3 million, an 18% increase from the previous year's fourth quarter. The rise in expenses is attributed to increased personnel costs, particularly accrued bonuses reflecting the strong company performance.
For 2026, Cboe has set an organic total net revenue growth target of 'mid single-digit' growth and anticipates a similar growth rate for its Data Vantage segment. Moreover, the company provided guidance for adjusted operating expenses to fall between $864 million and $879 million.
The company closed 2025 with cash and cash equivalents totaling $2.2 billion, enabling robust financial stability and the capability to support growth initiatives.
Cboe will continue to keep stakeholders informed about its financial performance and strategic initiatives, establishing a strong commitment to delivering long-term value to shareholders.
In summary, Cboe Global Markets successfully concluded 2025 with record earnings and a solid financial footing, signaling a positive outlook for its strategic positioning in the evolving financial landscape.
In the fourth quarter of 2025, Cboe achieved a record diluted earnings per share of $2.97, reflecting a remarkable 60% increase compared to the same quarter in the previous year. For the entire year, the diluted EPS reached $10.42, signifying a 45% year-over-year growth. Additionally, the adjusted diluted EPS for the quarter was recorded at $3.06, representing a 46% rise. This increase in profitability underscores the effectiveness of the company’s strategic initiatives and operational efficiencies.
Cboe's total net revenue for the fourth quarter was reported at $671.1 million, which is a 28% increase from $524.5 million in the same period of 2024. This growth was primarily driven by robust performance in their Derivatives business, where revenue accelerated by 38%, powered by record volumes in index and multi-listed options products. The full-year revenue also saw significant growth, reaching $2.4 billion, a 17% increase compared to the previous year.
Craig Donohue, Cboe's CEO, expressed his satisfaction with the results, emphasizing the successful execution of the company's growth strategy and the strong foundation laid for 2026. He noted that the organizational realignment within Cboe allows for better resource allocation, emphasizing growth and value creation in its core businesses while positioning the company to seize emerging opportunities.
In terms of segment performance, the Options market reported net revenue of $433.1 million, up 34% from $324.3 million a year earlier, fueled by a substantial increase in average daily volume of options traded. The North American Equities segment also saw growth, achieving net revenue of $110.7 million, up 17% from the previous year's fourth quarter. The revenue from Europe and Asia Pacific stood at $69.9 million, a 24% increase.
Despite the impressive revenue growth, Cboe's overall operating expenses rose to $267.3 million, an 18% increase from the previous year's fourth quarter. The rise in expenses is attributed to increased personnel costs, particularly accrued bonuses reflecting the strong company performance.
For 2026, Cboe has set an organic total net revenue growth target of 'mid single-digit' growth and anticipates a similar growth rate for its Data Vantage segment. Moreover, the company provided guidance for adjusted operating expenses to fall between $864 million and $879 million.
The company closed 2025 with cash and cash equivalents totaling $2.2 billion, enabling robust financial stability and the capability to support growth initiatives.
Cboe will continue to keep stakeholders informed about its financial performance and strategic initiatives, establishing a strong commitment to delivering long-term value to shareholders.
In summary, Cboe Global Markets successfully concluded 2025 with record earnings and a solid financial footing, signaling a positive outlook for its strategic positioning in the evolving financial landscape.
Topics Financial Services & Investing）
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