CBOECboe Global Markets

Financials · Exchanges & Brokers · CBOE

The following description of the business should be read in conjunction with the information included elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2025. 10-K, Item 1

Headquarters: Chicago, IL
Next results: around Feb 5, 2027

Compare with peers → Embed

RevenueFY2016–25 $4.7B+15.1% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $1.1B+43.8% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $1.7B+61.7% Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 31.1%+4.3 pts 42.4% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 20, 2026 against Feb 21, 2025

Area	What changed	Source
Risk factors	14 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	9 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 20, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-21. Quoted as filed.

Emerging technologies, alternative settlement mechanisms, and 24-hour trading may also affect our traditional business models. For example, the adoption of tokenization or other emerging settlement technologies that enable self-clearing may reduce demand for traditional clearing services. New or existing competitors may also develop…
10-K, Item 1A

All 14 new paragraphs →

Accounting checks

latest 10-K

9 of 9 clear 0 worth a look. Checks, not verdicts.

✓
Receivables -12.0% vs revenue +15.1% (-27.1 pts)
✓
Same auditor in both 10-Ks: KPMG LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Table o f Contents. Same as last year: Evaluation of unrecognized tax benefits
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 30, 20268-K Quarterly results 8-K item 2.02
Oct 30, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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