A Look At Cboe Global Markets (CBOE) Valuation After Record 4Q25 And Full Year 2025 Results

Cboe Global Markets (CBOE) is on investors’ radar after reporting record Q4 and full year 2025 results, with strong derivatives revenue and options momentum helping push the stock to an all time high.

See our latest analysis for Cboe Global Markets.

The earnings release has capped an eight day winning streak for Cboe Global Markets. The 30 day share price return of 13.08% and year to date share price return of 20.80% point to strong upside momentum, while the 1 year total shareholder return of 40.99% and 5 year total shareholder return of 204.56% show how long term holders have already been rewarded.

If this kind of sustained move has you thinking about what else is out there, it could be a good moment to broaden your search and check out 19 top founder-led companies.

With the shares at an all time high and trading at a premium to analyst targets and estimated intrinsic value, the key question now is simple: is this a fresh entry point, or is the market already pricing in future growth?

Most Popular Narrative: 6.3% Overvalued

With Cboe Global Markets closing at $299.72 against a narrative fair value of about $282.08, the current price sits above that widely followed estimate. This estimate hinges on how trading volumes, margins, and global expansion shape out over time.

Cboe is experiencing broad based growth across derivatives, data, and global spot markets, positioning it to benefit from ongoing increases in electronic trading volume and automation. These trends are likely to drive higher transaction-based revenue and support further top-line growth.

Read the complete narrative.

Want to see what kind of revenue path and profit margins underpin that fair value call, and how much future earnings power is being baked in? The narrative leans on a specific mix of volume assumptions, margin expansion, and a richer future earnings multiple that could surprise you. The details behind those inputs are where the real story sits.

Result: Fair Value of $282.08 (OVERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, this upbeat story still leans heavily on renewing the key S&P index partnership, as well as on global expansion paying off without squeezing margins through higher costs.

Find out about the key risks to this Cboe Global Markets narrative.

Next Steps

With sentiment this positive, it helps to look past the headline and weigh both the concerns and the upside for yourself, starting with 2 key rewards and 1 important warning sign.

Looking for more investment ideas?

If this story has sharpened your focus, do not stop here. Broaden your watchlist now so you are not late to the next opportunity.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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