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CBOE vs. NDAQ: Cboe Global Markets vs. Nasdaq Stock Comparison

How do Cboe Global Markets (CBOE) and Nasdaq (NDAQ) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Cboe Global Markets (CBOE) and Nasdaq (NDAQ) are both classified in the Financial Exchanges & Data sub-industry within the broader Capital Markets industry, placing them in the closest GICS peer bucket.

Company profile comparison for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
Profile ItemCBOENDAQ
NameCboe Global Markets Inc.Nasdaq, Inc. Common Stock
Country/RegionUnited StatesUnited States
GICS SectorFinancialsFinancials
GICS Industry GroupFinancial ServicesFinancial Services
GICS IndustryCapital MarketsCapital Markets
GICS Sub-IndustryFinancial Exchanges & DataFinancial Exchanges & Data
Market Capitalization36.86 billion USD59.88 billion USD
CurrencyUSDUSD
ExchangeCboeNasdaq
Listing DateJune 15, 2010July 1, 2002
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CBOE
NDAQ
GSPC
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Cboe Global Markets (CBOE) and Nasdaq (NDAQ). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Cboe Global Markets (CBOE) and Nasdaq (NDAQ). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Total Return (1Y)38.97%26.55%
Total Return (3Y, Annualized)27.34%30.18%
Total Return (5Y, Annualized)23.42%10.68%

Risk Profile

Drawdown History

CBOE
NDAQ
GSPC
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Cboe Global Markets (CBOE) and Nasdaq (NDAQ). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Volatility (1Y, Annualized)36.53%28.74%
Beta (5Y)0.350.94
Max Drawdown (5Y)-36.73%-32.57%
Avg. Volume (3M)1.14M3.13M

Risk-Adjusted Performance

Risk-Return Positioning

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CBOE and NDAQ are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Sharpe Ratio (1Y)0.950.77
Sortino Ratio (1Y)1.371.09

Profitability

ROE (TTM)

Cboe Global Markets (CBOE) at 27.39% sits in the top ROE quartile, while Nasdaq (NDAQ) at 17.33% is closer to the peer norm — stronger capital efficiency for CBOE.

CBOE

Financial Services industry group

27.39%

Max
44.78%
CBOE
27.39%
Q3
21.85%
Median
12.91%
Q1
4.48%
Min
-18.71%

NDAQ

Financial Services industry group

17.33%

Max
44.78%
Q3
21.85%
NDAQ
17.33%
Median
12.91%
Q1
4.48%
Min
-18.71%
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Nasdaq (NDAQ) at 36.06% retains a top-quartile share of revenue as profit, ahead of Cboe Global Markets (CBOE) at 28.05%, which keeps about the industry-typical share.

CBOE

Financial Services industry group

28.05%

Max
62.84%
Q3
28.05%
CBOE
28.05%
Median
15.36%
Q1
4.82%
Min
-28.52%

NDAQ

Financial Services industry group

36.06%

Max
62.84%
NDAQ
36.06%
Q3
28.05%
Median
15.36%
Q1
4.82%
Min
-28.52%
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Both Cboe Global Markets (CBOE) at 35.29% and Nasdaq (NDAQ) at 50.57% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

CBOE

Financial Services industry group

35.29%

Max
107.33%
Q3
55.90%
CBOE
35.29%
Median
30.09%
Q1
14.60%
Min
-44.34%

NDAQ

Financial Services industry group

50.57%

Max
107.33%
Q3
55.90%
NDAQ
50.57%
Median
30.09%
Q1
14.60%
Min
-44.34%
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
ROE (TTM)27.39%17.33%
ROA (TTM)11.84%6.10%
Net Margin (TTM)28.05%36.06%
Operating Margin (TTM)35.29%50.57%
Gross Margin (TTM)----

Growth

Revenue Growth

Both Cboe Global Markets (CBOE) at 15.13% and Nasdaq (NDAQ) at 11.65% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their Revenue Growth across different time periods.

EPS Growth

Nasdaq (NDAQ) at 60.10% sits in the top EPS growth quartile, while Cboe Global Markets (CBOE) at 44.52% is closer to the peer norm — faster per-share earnings growth for NDAQ.

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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Revenue Growth (YoY)15.13%11.65%
Revenue Growth (3Y CAGR)6.00%9.89%
EPS Growth (YoY)44.52%60.10%
EPS Growth (3Y CAGR)68.19%10.99%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Cboe Global Markets (CBOE) in Financial Services and Nasdaq (NDAQ) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Cboe Global Markets (CBOE) in Financial Services and Nasdaq (NDAQ) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Both Cboe Global Markets (CBOE) at 0.86% and Nasdaq (NDAQ) at 1.09% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CBOE

Financial Services industry group

0.86%

Max
9.77%
Q3
3.92%
Median
1.09%
CBOE
0.86%
Q1
0.00%
Min
0.00%

NDAQ

Financial Services industry group

1.09%

Max
9.77%
Q3
3.92%
Median
1.09%
NDAQ
1.09%
Q1
0.00%
Min
0.00%
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Cboe Global Markets (CBOE) at 21.49% and Nasdaq (NDAQ) at 31.69% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

CBOE

Financial Services industry group

21.49%

Max
241.07%
Q3
97.36%
Median
25.77%
CBOE
21.49%
Q1
0.00%
Min
0.00%

NDAQ

Financial Services industry group

31.69%

Max
241.07%
Q3
97.36%
NDAQ
31.69%
Median
25.77%
Q1
0.00%
Min
0.00%
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
Dividend Yield (TTM)0.86%1.09%
Dividend Payout Ratio (TTM)21.49%31.69%

Valuation

P/E Ratio (TTM)

Both Cboe Global Markets (CBOE) at 25.14 and Nasdaq (NDAQ) at 29.27 sit in the richer earnings-multiple quartile for P/E ratio, so investors are paying more for TTM earnings than they pay for typical peers.

CBOE

Financial Services industry group

25.14

Max
45.85
CBOE
25.14
Q3
24.64
Median
15.37
Q1
9.68
Min
0.16

NDAQ

Financial Services industry group

29.27

Max
45.85
NDAQ
29.27
Q3
24.64
Median
15.37
Q1
9.68
Min
0.16
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

Both look expensive on sales: Cboe Global Markets (CBOE) at 6.98 sits in the upper P/S ratio quartile, and Nasdaq (NDAQ) at 10.36 prices even higher, above its industry range.

CBOE

Financial Services industry group

6.98

Max
9.23
CBOE
6.98
Q3
4.57
Median
2.72
Q1
1.28
Min
-0.55

NDAQ

Financial Services industry group

10.36

NDAQ
10.36
Max
9.23
Q3
4.57
Median
2.72
Q1
1.28
Min
-0.55
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their P/S ratio against the Financial Services industry group benchmark.

P/B Ratio (MRQ)

Both Cboe Global Markets (CBOE) at 6.22 and Nasdaq (NDAQ) at 4.99 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CBOE

Financial Services industry group

6.22

Max
7.79
CBOE
6.22
Q3
3.63
Median
1.57
Q1
0.81
Min
-0.39

NDAQ

Financial Services industry group

4.99

Max
7.79
NDAQ
4.99
Q3
3.63
Median
1.57
Q1
0.81
Min
-0.39
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Cboe Global Markets (CBOE) vs. Nasdaq (NDAQ): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Cboe Global Markets (CBOE) and Nasdaq (NDAQ)
MetricCBOENDAQ
P/E Ratio (TTM)25.1429.27
P/S Ratio (TTM)6.9810.36
P/B Ratio (MRQ)6.224.99
Free Cash Flow Yield (TTM)----