Cme Group Inc. (CME)
Financials · Financial Exchanges & Data · US stock · S&P 500 component
$305.98
▲ +10.19 (3.45%)
Fair valueFair
$273 −10.7% to fair value
$137fair band $232–$331$410
Day's range
$300.00 – $307.26
52-week range
$218.31 – $329.16
About Cme Group Inc.
CME Group operates derivatives exchanges and clearing houses where traders hedge and speculate on interest rates, stock indexes, currencies, energy, metals and agricultural products. Its exchanges include the Chicago Mercantile Exchange, the Chicago Board of Trade, NYMEX and COMEX. Banks, asset managers, commercial companies, farmers, energy firms and individual traders use its markets, and the company also provides market data and clearing services.
CME earns fees on every contract traded and cleared, and also from market data subscriptions and other services, so revenue tends to follow trading volumes. Sales for the last twelve months were $6.8 billion, up 9.1% a year across the last three years. The operating margin is 65.1%, and the business earns a profit of 14% on the capital invested in it. Shareholders receive a dividend with a yield of 3.7%. On the site's X-Ray Score it receives 42 out of 100.
Price chart
52-wk range $218.31 – $329.16Volume 2,294,409Daily, split-adjusted
Vitals
Market cap$110.5B
52-week range$218.31 – $329.16
Volume (last day)2,294,409
P/E (TTM)25.8
EBIT / EV yield4.1%
Free-cash-flow yield3.8%
Dividend yield3.7%
Revenue (TTM)$6.8B
Net income (TTM)$4.3B
Operating margin65.1%
Return on capital13.7%
Debt incl. leasesData missing
Cash & securities$2.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$273middle half of models $254 – $306
Fair
−10.7% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $306
Undervalued < $232Fair $232 – $331Overvalued > $331
P/E multiple
$303
P/B multiple
$254
P/S multiple
$257
EV/EBITDA multiple
$294
EV/EBIT multiple
$293
EV/revenue multiple
$273
10-year DCF, EBITDA exit
$309
5-year DCF, EBITDA exit
$317
10-year DCF, revenue exit
$306
5-year DCF, revenue exit
$313
10-year DCF, growth exit
$208
5-year DCF, growth exit
$198
Dividend discount, stable · not used
$682
Dividend discount, multi-stage · not used
$1,446
Earnings power value
$226
Growth the price implies
11.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
15/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.1%
Free-cash-flow yield3.8%
Fair value vs price0.9×
Growth
Weak
48/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)9.1%
EPS growth (3y)14.7%
Growth consistency90%
Profitability
Fair
60/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital13.7%
Operating margin65.1%
Financial health
Weak
39/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Interest coverNo interest cost
Dividends
Fair
54/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.7%
Dividends vs free cash flow97%
Dividend growth14.3%
Quarterly results: last 6 quarters
+10.4%
Mar '25
+10.4%
Jun '25
-3.0%
Sep '25
+8.1%
Dec '25
+14.5%
Mar '26
+0.8%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.7B, diluted EPS $2.88.
Compare with peers
MCO Moodys Corp61 MSCI MSCI Inc.58 CBOE Cboe Global Markets, I...58 FDS Factset Research Syste...58Other Financial Exchanges & Data companies by X-Ray Score.
SWOT analysis: Cme Group Inc.
Strengthsinside the company
- Operating margin of 65.1% is well above the 37.7% median of industry peers, a sign of pricing power or lower costs.
- Earnings per share have compounded at 14.7% a year over three years.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- Altman Z-score of 0.5 is in the zone linked with financial distress in past studies.
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Financials as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare CME with peers and sector
Medians of 8 Financial Exchanges & Data peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): SPGI 48, ICE 52, MCO 61, NDAQ 44, MSCI 58, COIN 38.
| Metric | CME | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 42 | 55 | 50 |
| Valuation | 15 | 29 | 52 |
| Growth | 48 | 64 | 54 |
| Profitability | 60 | 63 | 48 |
| Financial health | 39 | 49 | 51 |
| Dividends | 54 | 54 | 54 |
Sector leaders: highest X-Ray Score in Financials
CME ranks #54 of 71 in Financials and #8 of 9 in Financial Exchanges & Data by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for CME
Each factor is rated by where CME stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 8 Average · 7 Bad of 20
Growth: 0 · 3 · 0
Profitability: 2 · 2 · 0
Financial strength: 1 · 2 · 0
Valuation: 0 · 0 · 5
Cash flow: 1 · 1 · 2
Efficiency: 1 · 0 · 0
| Factor | CME | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.1% | Average beats 52% | +8.3% | – | – |
| Revenue growth, last year | +6.4% | Average beats 42% | +6.9% | +7.0% | ≈ In line |
| EPS growth, 3 years a year | +14.7% | Average beats 57% | +12.7% | – | – |
| Profitability | |||||
| Operating margin | 65.1% | Good beats 91% | 29.1% | 61.6% | ≈ In line |
| Net margin | 63.3% | Good beats 92% | 21.8% | 57.5% | ▲ Better |
| Return on invested capital | 13.7% | Average beats 53% | 13.5% | – | – |
| Return on equity | 16.2% | Average beats 52% | 15.7% | 12.1% | ▲ Better |
| Financial strength | |||||
| Interest cover | 50.0x | Good beats 73% | 50.0x | – | – |
| Current ratio | 1.02 | Average beats 37% | 1.05 | 1.01 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 38% | 7 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 25.8x | Bad beats 18% | 13.8x | 23.7x | ≈ In line |
| Price / book | 4.2x | Bad beats 22% | 2.2x | 3.0x | ▼ Worse |
| Price / sales | 16.3x | Bad beats 8% | 3.1x | 13.6x | ▼ Worse |
| EV / EBITDA | 24.6x | Bad beats 10% | 10.8x | 20.4x | ▼ Worse |
| Free cash flow yield | 3.8% | Bad beats 24% | 5.8% | 4.3% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 62.2% | Good beats 90% | 23.2% | 59.1% | ≈ In line |
| Cash from operations / net income | 1.01 | Bad beats 29% | 1.25 | 1.05 | ≈ In line |
| Free cash flow growth, 3 years a year | +12.2% | Average beats 48% | +12.7% | – | – |
| Accruals (lower is better) | −0.0% | Bad beats 29% | −1.0% | – | – |
| Efficiency | |||||
| Days sales outstanding | 41 days | Good beats 82% | 53 days | 35 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 2 Good · ● 7 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioAverage
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 44/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $4.7B | $5.0B | $5.6B | $6.1B | $6.5B |
| Operating income | $2.6B | $3.0B | $3.4B | $3.9B | $4.2B |
| Net income | $2.6B | $2.7B | $3.2B | $3.5B | $4.1B |
| Operating cash flow | $2.4B | $3.1B | $3.5B | $3.7B | $4.3B |
| Operating margin | 56.4% | 60.1% | 61.6% | 64.1% | 64.9% |
| Free cash flow | $2.3B | $3.0B | $3.4B | $3.6B | $4.2B |
| Diluted EPS | $7.29 | $7.40 | $8.86 | $9.67 | $11.16 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 289.5 | Bullish |
| EMA 10 | 290.8 | Bullish |
| SMA 20 | 278.2 | Bullish |
| EMA 20 | 283.8 | Bullish |
| SMA 50 | 276.1 | Bullish |
| EMA 50 | 275.8 | Bullish |
| SMA 100 | 262.5 | Bullish |
| EMA 100 | 272.1 | Bullish |
| SMA 200 | 275.9 | Bullish |
| EMA 200 | 270.3 | Bullish |
Oscillators (daily)
| RSI (14) | 78.51 | Bearish |
| MACD (12, 26) | 7.45 | Bullish |
| Momentum (12) | 13.25 | Bullish |
| Stochastic %K (14) | 97.27 | Bearish |
| Williams %R (14) | -2.73 | Bearish |
| CCI (20) | 158.0 | Bearish |
Pivot points (classic, last session)
S3 294.3 | S2 297.2 | S1 301.6 | Pivot 304.4 | R1 308.8 | R2 311.7 | R3 316.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
11.30 USD
Yield on today's price
3.69%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.3000 | |
| 1.3000 | |
| 7.4500 | |
| 1.2500 | |
| 1.2500 | |
| 1.2500 | |
| 1.2500 | |
| 5.8000 | |
| 1.1500 | |
| 1.1500 | |
| 1.1500 | |
| 1.1500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold CME
| ETF | Share of the fund |
|---|---|
| DIVO Amplify CWP Enhanced Dividend Income | 3.98% |
| IYF iShares U.S. Financials | 1.47% |
| VFH Vanguard Financials | 1.19% |
| XLF Financial Select Sector SPDR | 1.05% |
| SPLV Invesco S&P 500 Low Volatility | 0.94% |
| USMV iShares MSCI USA Min Vol Factor | 0.84% |
| CGDG Capital Group Dividend Growers | 0.80% |
| FTLS First Trust Long/Short Equity | 0.80% |
The eight funds with the largest weight in CME among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
CME stock splits
CME has split its stock once since 2012. The latest was a 5-for-1 split on 23 Jul 2012.
Full CME stock split history →CME SEC filings
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Current report
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.