CMECME Group

Financials · Exchanges & Brokers · Nasdaq

CME Group enables clients to trade futures, options, cash and over-the-counter (OTC) products, optimize portfolios and analyze data - empowering market participants worldwide to efficiently manage risk and capture opportunities. 10-K, Item 1

Headquarters: Chicago, IL
CEO: Terrence A. Duffy
Next results: around Feb 3, 2027

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CME and 9 peers, year by year

The 9 Financials companies closest to CME in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
CME CME Group	FY2025	$6.5B	+6.4%	-	64.9%	62.5%	64.3%	14.2%	0.00
BRO Brown & Brown	FY2025	$5.9B	+22.8%	-	-	17.9%	23.4%	8.4%	0.61
IBKR Interactive Brokers	FY2025	$6.2B	+23.4%	-	-	15.9%	-	18.3%	-
IVZ Invesco	FY2025	$6.4B	+5.1%	-	−10.9%	−11.4%	22.6%	−5.9%	0.15
GL Globe Life	FY2025	$6.0B	+3.7%	-	-	19.4%	20.9%	19.4%	0.44
RF Regions Financial Corporation	FY2025	$7.5B	+6.3%	-	0.7%	28.6%	-	11.3%	0.26
TROW T. Rowe Price	FY2025	$7.3B	+3.1%	-	29.9%	28.5%	20.2%	19.2%	-
KEY KeyCorp	FY2025	$7.5B	+6.5%	-	-	24.3%	28.0%	9.0%	0.49
MCO Moody's Corporation	FY2025	$7.7B	+8.9%	-	43.4%	31.9%	33.4%	60.7%	1.73
ARES Ares Management	FY2025	$5.6B	+44.2%	-	-	9.4%	-	12.3%	-

Revenuepeer median $6.4B

Sales growthpeer median +6.5%

Operating marginpeer median 15.3%

CME 64.9%
MCO 43.4%
TROW 29.9%
RF 0.7%
IVZ −10.9%
BRO -
IBKR -
GL -
KEY -
ARES -

Net marginpeer median 19.4%

FCF marginpeer median 23.0%

CME 64.3%
MCO 33.4%
KEY 28.0%
BRO 23.4%
IVZ 22.6%
GL 20.9%
TROW 20.2%
IBKR -
RF -
ARES -

Return on equitypeer median 12.3%

Debt / equitypeer median 0.46

MCO 1.73
BRO 0.61
KEY 0.49
GL 0.44
RF 0.26
IVZ 0.15
CME 0.00
IBKR -
TROW -
ARES -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	$3.6B	$3.6B	$4.3B	$4.9B	$4.9B	$4.7B	$5.0B	$5.6B	$6.1B	$6.5B
BRO Dec	$1.8B	$1.9B	$2.0B	$2.4B	$2.6B	$3.1B	$3.6B	$4.3B	$4.8B	$5.9B
IBKR Dec	$2.6B	$2.2B	-	-	-	$2.7B	$3.1B	$4.3B	$5.2B	$6.2B
IVZ Dec	$4.7B	$5.2B	$5.3B	$6.1B	$6.1B	$6.9B	$6.0B	$5.7B	$6.1B	$6.4B
GL Dec	$3.9B	$4.2B	$4.3B	$4.5B	$4.7B	$5.1B	$5.2B	$5.4B	$5.8B	$6.0B
RF Dec	$5.4B	$5.5B	$5.8B	$5.9B	$6.3B	$6.4B	$7.2B	$7.6B	$7.1B	$7.5B
TROW Dec	$4.3B	$4.9B	$5.4B	$5.6B	$6.2B	$7.7B	$6.5B	$6.5B	$7.1B	$7.3B
KEY Dec	$5.0B	$6.3B	$6.5B	$6.4B	$6.7B	$7.3B	$7.3B	$6.4B	$4.6B	$7.5B
MCO Dec	$3.6B	$4.2B	$4.4B	$4.8B	$5.4B	$6.2B	$5.5B	$5.9B	$7.1B	$7.7B
ARES Dec	$964.8M	$1.5B	$1.2B	$1.8B	$1.8B	$4.2B	$3.1B	$3.6B	$3.9B	$5.6B
Peer median	$3.9B	$4.2B	$4.9B	$5.2B	$5.8B	$6.2B	$5.5B	$5.7B	$5.8B	$6.4B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	+8.1%	+1.4%	+18.2%	+13.0%	+0.3%	−4.0%	+7.0%	+11.1%	+9.9%	+6.4%
BRO Dec	+6.4%	+6.5%	+7.1%	+18.8%	+9.2%	+16.8%	+17.1%	+19.1%	+12.9%	+22.8%
IBKR Dec	−8.4%	+51.9%	-	-	-	+21.8%	−4.0%	+3.4%	+27.0%	+23.4%
IVZ Dec	−7.6%	+9.0%	+3.0%	+15.1%	+0.5%	+12.2%	−12.3%	−5.5%	+6.1%	+5.1%
GL Dec	+4.5%	+5.6%	+3.6%	+5.2%	+4.6%	+7.9%	+2.2%	+4.2%	+6.1%	+3.7%
RF Dec	+0.6%	+3.4%	+18.3%	+11.3%	+6.3%	+23.8%	+12.1%	+5.0%	−6.5%	+6.3%
TROW Dec	+2.0%	+13.3%	+10.7%	+4.6%	+10.5%	+23.6%	−15.4%	−0.4%	+9.8%	+3.1%
KEY Dec	+18.0%	+25.6%	+2.3%	−0.9%	+4.9%	+8.6%	−0.3%	−10.0%	+14.5%	+6.5%
MCO Dec	+3.4%	+16.6%	+5.7%	+8.7%	+11.2%	+15.8%	−12.1%	+8.2%	+19.8%	+8.9%
ARES Dec	+47.2%	+12.5%	−35.2%	+84.2%	−0.1%	+139%	−27.5%	+18.9%	+7.0%	+44.2%
Peer median	+3.4%	+12.5%	+4.6%	+10.0%	+5.6%	+16.8%	−4.0%	+4.2%	+9.8%	+6.5%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	-	-	-	-	-	-	-	-	-	-
BRO Dec	-	-	-	-	-	-	-	-	-	-
IBKR Dec	-	-	-	-	-	-	-	-	-	-
IVZ Dec	-	-	-	-	-	-	-	-	-	-
GL Dec	19.9%	19.4%	20.1%	20.1%	19.0%	23.8%	22.6%	23.1%	-	-
RF Dec	-	-	-	-	-	-	-	-	-	-
TROW Dec	-	-	-	-	-	-	-	-	-	-
KEY Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	-	-	-	-	-	-	-	-	-	-
ARES Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	61.2%	63.4%	60.5%	53.2%	54.0%	56.4%	60.1%	61.6%	64.1%	64.9%
BRO Dec	-	-	-	-	-	-	-	-	-	-
IBKR Dec	-	-	-	-	-	-	-	-	-	-
IVZ Dec	24.3%	24.8%	22.7%	13.2%	15.0%	25.9%	21.8%	−7.6%	13.7%	−10.9%
GL Dec	20.0%	19.8%	20.2%	20.3%	19.1%	24.0%	22.7%	23.2%	-	-
RF Dec	-	-	-	-	-	0.7%	0.8%	2.8%	1.3%	0.7%
TROW Dec	40.5%	43.4%	44.0%	42.5%	44.2%	48.4%	36.6%	30.7%	32.9%	29.9%
KEY Dec	-	-	-	-	-	-	-	-	-	-
MCO Dec	18.1%	43.3%	42.0%	41.4%	44.5%	45.7%	34.4%	36.1%	40.6%	43.4%
ARES Dec	-	-	-	-	-	-	-	-	-	-
Peer median	22.2%	34.1%	32.4%	30.8%	31.7%	25.9%	22.7%	23.2%	23.3%	15.3%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	42.7%	111.5%	45.5%	43.5%	43.1%	56.2%	53.6%	57.8%	57.5%	62.5%
BRO Dec	14.6%	21.2%	17.1%	16.7%	18.4%	19.2%	18.8%	20.5%	20.7%	17.9%
IBKR Dec	6.2%	8.8%	-	-	-	11.3%	12.4%	13.8%	14.6%	15.9%
IVZ Dec	18.0%	21.8%	16.6%	9.2%	8.5%	20.2%	11.3%	−5.8%	8.9%	−11.4%
GL Dec	14.0%	35.0%	16.3%	16.8%	15.4%	20.2%	17.1%	17.8%	18.5%	19.4%
RF Dec	21.5%	23.0%	30.6%	27.0%	17.4%	39.2%	31.1%	27.4%	26.7%	28.6%
TROW Dec	28.4%	30.9%	34.2%	37.9%	38.2%	40.2%	24.0%	27.7%	29.6%	28.5%
KEY Dec	15.7%	20.5%	28.9%	26.8%	20.0%	36.0%	26.4%	15.1%	−3.5%	24.3%
MCO Dec	7.4%	23.8%	29.5%	29.4%	33.1%	35.6%	25.1%	27.2%	29.0%	31.9%
ARES Dec	11.6%	5.1%	4.7%	8.4%	8.6%	9.7%	5.5%	13.1%	11.9%	9.4%
Peer median	14.6%	21.8%	23.0%	21.8%	17.9%	20.2%	18.8%	17.8%	18.5%	19.4%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	$1.6B	$1.7B	$2.3B	$2.4B	$2.5B	$2.3B	$3.0B	$3.4B	$3.6B	$4.2B
BRO Dec	$393.3M	$417.8M	$526.0M	$605.1M	$642.3M	$763.8M	$829.0M	$941.0M	$1.1B	$1.4B
IBKR Dec	-	-	-	-	-	-	-	-	-	-
IVZ Dec	$506.3M	$1.0B	$726.3M	$992.3M	$1.1B	$969.3M	$510.3M	$1.1B	$1.1B	$1.4B
GL Dec	$1.4B	$1.4B	$1.2B	$1.3B	$1.4B	$1.4B	$1.4B	$1.4B	$1.3B	$1.3B
RF Dec	-	-	-	-	-	-	-	-	-	-
TROW Dec	$22.2M	$43.4M	$1.5B	$1.3B	$1.7B	$3.2B	$2.1B	$911.2M	$1.3B	$1.5B
KEY Dec	$1.5B	$1.7B	$2.4B	$2.8B	$1.6B	$1.1B	$4.4B	$2.8B	$599.0M	$2.1B
MCO Dec	$1.1B	$664.0M	$1.4B	$1.6B	$2.0B	$1.9B	$1.2B	$1.9B	$2.5B	$2.6B
ARES Dec	−$637.6M	−$1.9B	−$1.4B	-	-	-	-	-	-	-
Peer median	$506.3M	$664.0M	$1.2B	$1.3B	$1.5B	$1.2B	$1.3B	$1.3B	$1.2B	$1.5B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	45.6%	45.8%	53.9%	49.9%	51.6%	48.5%	59.1%	60.5%	58.7%	64.3%
BRO Dec	22.3%	22.2%	26.1%	25.3%	24.6%	25.0%	23.2%	22.1%	22.7%	23.4%
IBKR Dec	-	-	-	-	-	-	-	-	-	-
IVZ Dec	10.7%	20.3%	13.7%	16.2%	18.1%	14.1%	8.4%	19.9%	18.5%	22.6%
GL Dec	34.9%	33.9%	28.6%	29.2%	30.3%	27.4%	26.7%	26.3%	23.0%	20.9%
RF Dec	-	-	-	-	-	-	-	-	-	-
TROW Dec	0.5%	0.9%	27.0%	23.5%	27.5%	41.9%	32.7%	14.1%	17.8%	20.2%
KEY Dec	30.7%	27.0%	37.3%	44.1%	24.0%	14.9%	60.1%	43.1%	13.0%	28.0%
MCO Dec	31.7%	15.8%	30.8%	33.3%	38.0%	30.0%	21.8%	31.8%	35.6%	33.4%
ARES Dec	−66.1%	−128.1%	−117.8%	-	-	-	-	-	-	-
Peer median	22.3%	20.3%	27.0%	27.2%	26.0%	26.2%	24.9%	24.2%	20.6%	23.0%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	7.5%	18.1%	7.6%	8.1%	8.0%	9.6%	10.0%	12.1%	13.3%	14.2%
BRO Dec	10.9%	15.5%	11.5%	11.9%	12.8%	14.0%	14.6%	15.6%	15.4%	8.4%
IBKR Dec	11.1%	10.0%	-	-	-	12.9%	13.3%	16.7%	17.6%	18.3%
IVZ Dec	11.4%	13.0%	10.3%	4.1%	3.7%	9.0%	4.5%	−2.3%	3.7%	−5.9%
GL Dec	12.0%	23.3%	13.0%	10.4%	8.3%	51.5%	22.6%	21.6%	20.2%	19.4%
RF Dec	7.0%	7.8%	11.7%	9.7%	6.0%	13.8%	14.1%	11.9%	10.6%	11.3%
TROW Dec	24.3%	25.7%	30.0%	30.0%	30.8%	34.2%	17.6%	18.8%	20.3%	19.2%
KEY Dec	5.2%	8.6%	12.0%	10.1%	7.5%	15.1%	14.2%	6.6%	−0.9%	9.0%
MCO Dec	n/m	n/m	n/m	n/m	113.3%	81.2%	54.5%	48.4%	57.7%	60.7%
ARES Dec	38.2%	5.2%	9.7%	19.4%	12.7%	22.4%	10.5%	25.1%	13.1%	12.3%
Peer median	11.2%	11.5%	11.7%	10.4%	10.5%	15.1%	14.2%	16.7%	15.4%	12.3%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	-	0.00	0.02	0.00	0.00	0.03	0.00	0.00	0.03	0.00
BRO Dec	0.45	0.38	0.50	0.46	0.56	0.48	0.86	0.68	0.59	0.61
IBKR Dec	0.01	-	-	-	-	-	-	-	-	-
IVZ Dec	0.28	0.24	0.28	0.15	0.15	0.13	0.10	0.10	0.06	0.15
GL Dec	0.31	0.24	0.31	0.23	0.22	1.09	0.57	0.47	0.52	0.44
RF Dec	0.47	0.53	0.93	0.61	0.20	0.13	0.14	0.13	0.36	0.26
TROW Dec	-	-	-	-	-	-	-	-	-	-
KEY Dec	0.81	0.95	0.88	0.73	0.76	0.69	1.44	1.34	0.67	0.49
MCO Dec	n/m	n/m	12.37	9.12	4.09	2.72	2.93	2.11	2.08	1.73
ARES Dec	-	-	-	-	-	-	-	-	-	-
Peer median	0.38	0.38	0.69	0.54	0.39	0.59	0.71	0.58	0.56	0.46

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CME Dec	$4.53	$11.94	$5.71	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67	$11.16
BRO Dec	$0.91	$1.40	$1.22	$1.40	$1.69	$2.07	$2.37	$3.05	$3.46	$3.16
IBKR Dec	$0.53	$0.60	-	-	-	$0.81	$0.94	$1.42	$1.73	$2.22
IVZ Dec	$2.06	$2.75	$2.14	$1.28	$1.13	$2.99	$1.49	−$0.73	$1.18	−$1.60
GL Dec	$4.49	$12.22	$6.09	$6.83	$6.82	$9.99	$9.04	$10.07	$11.94	$14.07
RF Dec	$0.87	$1.00	$1.54	$1.50	$1.03	$2.49	$2.28	$2.11	$1.93	$2.30
TROW Dec	$4.75	$5.97	$7.27	$8.70	$9.98	$13.12	$6.70	$7.76	$9.15	$9.24
KEY Dec	$0.80	$1.13	$1.71	$1.62	$1.27	$2.63	$1.93	$0.88	−$0.32	$1.52
MCO Dec	$1.36	$5.15	$6.74	$7.42	$9.39	$11.78	$7.44	$8.73	$11.26	$13.67
ARES Dec	-	-	-	-	-	-	-	-	-	-
Peer median	$1.14	$2.08	$2.14	$1.62	$1.69	$2.81	$2.33	$2.58	$2.69	$2.73

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out CME and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on CME in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CME/export.csv") into a cell.