CME Group (CME)
Financials · $96.8B market cap · SEC CIK 0001156375
fundamentals score out of 100
Next reports on Oct 21, 2026, before the open, with analysts expecting $2.97 in earnings per share.
The case for CME
- 34% of revenue drops through to net profit.
- Revenue growing 16.6% year over year.
- Has compounded revenue at 18.7% a year over five years.
- Return on equity of 16%.
- Gross margin of 96% absorbs cost shocks.
- Moves less than the market (beta 0.21).
The case against
- Dividend takes 95% of earnings, leaving little cushion.
- Price/sales of 7.7× is higher than 89% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 39 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 79 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 86 |
| Momentumhow the price has behaved lately | 57 |
| Stabilityhow violently it moves, what it owes and what it pays you | 79 |
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 22.6× |
|---|---|
| Price / book | 3.02× |
| Price / sales | 7.7× |
| Revenue growth (YoY) | +16.6% |
| EPS growth (YoY) | +13.4% |
| Gross margin | 96% |
| Operating margin | 84% |
| Net margin | 34% |
| Return on equity | 16% |
| Debt / equity | 0.13× |
| Current ratio | 1.02 |
| Dividend yield | 2.03% |
| Beta | 0.21 |
| 52-week range | $218.31 – $329.16 |
| Position in that range | 44% of the way up |
| 3-month return | +11.8% |
| 1-year return | +5.4% |
Five years of financials, as filed
Pulled from CME Group's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $6.5B | $6.1B | $5.6B | $5.0B | $4.7B |
| Operating income | $4.2B | $3.9B | $3.4B | $3.0B | $2.6B |
| Net income | $4.1B | $3.5B | $3.2B | $2.7B | $2.6B |
| Operating cash flow | $4.3B | $3.7B | $3.5B | $3.1B | $2.4B |
| Capital expenditure | $83.5M | $94.0M | $76.4M | $89.7M | $127M |
| Total assets | $198B | $137B | $130B | $174B | $197B |
| Total liabilities | $170B | $111B | $103B | $147B | $169B |
| Shareholder equity | $28.7B | $26.5B | $26.7B | $26.9B | $27.4B |
| Cash | $4.4B | $2.9B | $2.9B | $2.7B | $2.8B |
| Free cash flow | $4.2B | $3.6B | $3.4B | $3.0B | $2.3B |
| Operating margin | 64.9% | 64.1% | 61.6% | 60.1% | 56.4% |
| Net margin | 62.5% | 57.5% | 57.8% | 53.6% | 56.2% |
| Diluted shares | 360M | 360M | 360M | 359M | 359M |
Share count is essentially flat over 4 years.
What CME Group says it does
" beginning o n page 10 . Regulatory Environment. Our exchange-traded derivatives exchanges and other businesses are regulated and we serve a customer base that includes regulated institutions and individuals. Developments in the regulatory environment have the potential to significantly impact our business. Compliance with regulations may require us and our customers to dedicate significant financial and operational resources, which could advers ely affect our profitability. The regulatory environment to which we are subject is discussed in "Item 1 - Business" beginning on page 12 . Business Strategy Our strategy focuses on maximizing futures and options growth globally, diversifying our business and revenues and delivering unparalleled customer efficiencies and operational excellence, including through our partnership with Google Cloud. This strategy allows us to continue to develop into a more broadly diversified financial exchange…
Risk factors CME lists in its 10-K
- Summary Compensation Table Total for Terrence A. Duffy
- Compensation Actually Paid to Terrence A. Duffy
- Average Summary Compensation Table Total for Non-PEO NEOs
- Average Compensation Actually Paid to Non-PEO NEOs
- Value of Initial Fixed $100 Investment based on
- Summary Compensation Table Total for Terrence A. Duffy ($)
- Exclusion of Change in Pension Value for Terrence A. Duffy ($)
- Exclusion of Stock Awards for Terrence A. Duffy ($)
- Inclusion of Pension Service Cost for Terrence A. Duffy ($)
- Inclusion of Equity Values for Terrence A. Duffy ($)
- Compensation Actually Paid to Terrence A. Duffy ($)
- Average Summary Compensation Table Total for Non-PEO NEOs ($)
- Average Exclusion of Change in Pension Value for Non-PEO NEOs ($)
- Average Exclusion of Stock Awards for Non-PEO NEOs ($)