Financials · Financial Exchanges & Data · US stock · price as of 22 Oct 2026
Key indicators
Price
$305.98
52-week range
$218.31 – $329.16
Market cap
$110.5B
P/E (trailing)
25.8×
EV / EBITDA
24.6×
Free-cash-flow yield
3.8%
Dividend yield
3.7%
Revenue (last 12 months)
$6.8B
Revenue growth (3y a year)
9.1%
Operating margin
65.1%
Return on invested capital
13.7%
Net debt / EBITDA
–
Fair value
Fair value (average of valid models)$273.17 middle half of models $254 – $306
Versus priceFair−11% to fair value
P/E multiple
$302.97
P/B multiple
$254.06
P/S multiple
$257.29
EV/EBITDA multiple
$293.56
EV/EBIT multiple
$292.71
EV/revenue multiple
$272.89
10-year DCF, EBITDA exit
$309.45
5-year DCF, EBITDA exit
$317.41
10-year DCF, revenue exit
$306.00
5-year DCF, revenue exit
$312.97
10-year DCF, growth exit
$208.08
5-year DCF, growth exit
$197.82
Earnings power value
$225.95
Model uncertainty
Low
X-Ray Score
42/ 100 · Medium confidence · ahead of 24% of sector peers
Valuation15
Growth48
Profitability60
Financial health39
Dividends54
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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%.
StocksXray gives Cme Group Inc. an X-Ray Score of 42 out of 100 (medium confidence), ahead of 24% of the S&P 500 stocks in its sector. Its strongest lens is profitability (60) and its weakest is valuation (15).
Our fair value (the average of the valid models) is $273.17 (range $254.06 to $306.00). At $305.98 the stock trades 12% above that value, so the label is "Fair" with low model uncertainty. Fair value is a range, not a price target.
XStocksXray
Cme Group Inc. (CME)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$188.58
$145.41
$190.96
$220.39
$264.09
$305.98
Market cap
$67.7B
$52.2B
$68.7B
$79.3B
$95.2B
$110.5B
P/E
25.9×
19.7×
21.6×
22.8×
23.7×
25.8×
EV / revenue
14.0×
9.8×
11.8×
12.6×
13.9×
16.0×
EV / EBITDA
23.4×
15.7×
18.4×
19.0×
20.9×
24.6×
Price / free cash flow
29.7×
17.6×
20.3×
22.1×
22.7×
26.2×
Free-cash-flow yield
3.4%
5.7%
4.9%
4.5%
4.4%
3.8%
Price / book
2.5×
1.9×
2.6×
3.0×
3.3×
4.2×
Dividend yield
3.13%
5.85%
5.05%
4.72%
1.89%
3.69%
Fundamentals checklist ● 2 Good · ● 7 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−0.0%Bad
Free-cash-flow yield3.8%Bad
Risk models
Altman Z score0.5×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)14.7%Average
Free-cash-flow growth (3y)12.2%Average
Revenue growth (3y)9.1%Average
Growth consistency90%Average
Balance sheet
Current ratio1.0×Average
Interest coverno interest costGood
Valuation
Fair value vs price0.9×Bad
EBIT / EV yield4.1%Bad
Profitability
Return on invested capital13.7%Average
Operating margin65.1%Good
XStocksXray
Cme Group Inc. (CME)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
4,690
5,019
5,579
6,130
6,521
6,773
Gross profit
–
–
–
–
–
–
Operating income
2,645
3,016
3,436
3,932
4,230
4,409
Net income
2,637
2,691
3,226
3,526
4,072
4,287
Diluted EPS ($)
7.29
7.40
8.86
9.67
11.16
11.87
Free cash flow
2,275
2,966
3,377
3,597
4,194
4,213
Gross margin
–
–
–
–
–
–
Operating margin
56.4%
60.1%
61.6%
64.1%
64.9%
65.1%
Net margin
56.2%
53.6%
57.8%
57.5%
62.5%
63.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
196,780
174,176
129,706
137,447
198,424
194,677
Cash
2,835
2,720
2,912
2,892
4,417
2,144
Total debt
749
16
0
750
0
–
Equity
27,399
26,879
26,738
26,487
28,728
26,520
Dividend per share ($)
5.90
8.50
9.65
10.40
5.00
11.25
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
