CME Group Inc. (CME)

NASDAQ: CME · USD

$294

+0.53 (+0.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-05-20

Our latest published analysis: CME rated Reduce

CME Group Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$261 / share

Potential value

$341 / share

Upside to FV

-13.6%

from $294

Moat

9/10

Wide

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$109.6B
Revenue (ttm)	7B
Net income (ttm)	4.4B
EPS (ttm)	$12.2
Shares out	357.9M
P/E (trailing)	24.1x
P/E (forward)	23.5x
Dividend	$11.4 (3.86%)
Volume	996,802
Beta	0.27

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 7B
Net income (ttm): 4.4B
EPS (ttm): $12.2
P/E (trailing): 24.1x
P/E (forward): 23.5x
Market cap: $109.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$4.69B	$5.02B	$5.58B	$6.13B	$6.52B	+8.6%
Gross profit	$3.85B	$4.27B	$4.75B	$5.28B	$5.61B	+9.9%
Operating income	$3.54B	$3.65B	$4.31B	$4.70B	$5.50B	+11.7%
Net income	$2.64B	$2.69B	$3.23B	$3.53B	$4.07B	+11.5%
EPS (diluted)	$7.29	$7.40	$8.86	$9.67	$11.16	+11.2%
EBITDA	$3.93B	$4.02B	$4.67B	$5.04B	$5.83B	+10.4%
R&D	—	—	—	—	—	—
SG&A	$151.7M	$137.4M	$144.4M	$132.7M	$150.5M	-0.2%

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ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Zdecydowanie kupuj
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	Zdecydowanie kupuj
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	Zdecydowanie kupuj
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	Trzymaj

Base and Bull scenarios

Bull20%

Price target

$341.31

+12.9% from spot

Prolonged macroeconomic uncertainty, fluctuating interest rates, and geopolitical shifts drive record hedging activity and volume across CME's product suite. The company pushes through pricing increases uninhibited, scaling margins further and driving low-double-digit EPS growth.

Record hedging activity across all product suites.
Uninhibited pricing power drives margin expansion.

Base60%

Price target

$261.16

-13.6% from spot

CME Group benefits from near-monopoly network effects in interest rate, energy, and agricultural derivatives. Its vertically integrated clearinghouse acts as a massive competitive barrier. As a mature compounder, it generates extraordinary margins and massive free cash flow.

Structural deceleration toward nominal GDP growth.
Sustained 67% normalized operating margins.
20-year moat fade execution.

Sensitivity: Ke × terminal growth

The highlighted base cell is anchored to composite fair-value midpoint ($261.16). It is the reference value for this grid, not a separate standalone fair-value claim.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
7.1%	$313	$347	$389	$444	$457
8.1%	$261	$285	$313	$347	$389
9.1%	$224	$241	$261	$285	$313
10.1%	$196	$209	$224	$241	$261
11.1%	$175	$185	$196	$209	$224

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E23.5

P25 n/aP50 n/aP75 n/a

Trailing P/E25.8

P25 n/aP50 n/aP75 n/a

ROE16.1

P25 n/aP50 n/aP75 n/a

ROIC12.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All CME indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001156375
Company name	CME Group Inc.
Country	United States
Country code	US
CUSIP number	12572Q105
Earnings date	2026-10-21
Earnings time	bmo
Employees	3,875
Employees change	115
Employees growth	3.06%
Enterprise value	$106.8B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1898
In index	SP500
Industry	Financial Data & Stock Exchanges
IPO date	2002-12-06
Is primary listing	Yes
Is SPAC	No
ISIN number	US12572Q1058
Last 10-K release date	2026-02-26
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Last stock split date	2012-07-23
Last stock split type	Forward
Market cap	$105.2B
Market cap category	Large-Cap
Next earnings date	2027-02-03
Options	Yes
Price	$294.02
Price currency	USD
Sector	Financials
SIC code	6200
Stock price date	2026-10-28
Symbol	CME
U.S. state	Illinois
Website	https://www.cmegroup.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	24.22x
Average P/E ratio (10Y)	26.06x
Average P/E ratio (3Y)	23.9x
Average P/E ratio (5Y)	24.64x
Earnings yield	4.15%
EV/Earnings	24.27x
EV/EBIT	23.19x
EV/EBITDA	21.63x
EV/FCF	24.66x
EV/Sales	15.36x
FCF / EV yield	4.06%
FCF yield	4.11%
Forward EV/Sales	14.61x
Forward P/E	22.71x
Forward P/S	14.4x
Graham number	142.79189
Graham upside	-51.48%
Industry forward P/E	23.83x
Industry P/E	28.12x
Lynch fair value	$153.30
Lynch upside	-47.91%
P/(FCF - SBC) ratio	24.88x
P/(OCF - SBC) ratio	24.34x
P/B ratio	3.95x
P/E ratio	24.11x
P/FCF ratio	24.31x
P/OCF ratio	23.79x
P/S ratio	15.14x
PEG ratio	3.18x
Price/EBITDA ratio	21.32x
Sector forward P/E	13.61x
Sector P/E	15.65x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	66.24%
EBITDA margin	71.03%
Effective tax rate	23.49%
FCF margin	62.29%
Gross margin	100%
Operating margin	66.24%
Pretax margin	82.97%
Profit margin	63.48%
Profit per employee	$1.1M
Profitable quarters	103
Profitable years	25
Revenue per employee	$1.8M
ROA	1.52%
ROA (5Y)	1.38%
ROCE	12.81%
ROE	16.13%
ROE (5Y)	11.95%
ROIC	12.55%
ROIC (5Y)	9.58%
SBC / revenue	1.43%
Tax / revenue	19.49%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	18.17%
EPS growth (Q)	16.06%
EPS growth (QoQ)	0.35%
EPS growth 10Y	11.01%
EPS growth 3Y	13.32%
EPS growth 5Y	12.46%
EPS growth quarters	4
EPS growth years	5
FCF growth	6.1%
FCF growth (Q)	12.68%
FCF growth (QoQ)	15.87%
FCF growth 3Y	9.38%
FCF growth 5Y	14.27%
Gross profit growth	8.94%
Gross profit growth (Q)	12.96%
Gross profit growth 3Y	9.23%
Gross profit growth 5Y	8.48%
Net income growth	17.32%
Net income growth (Q)	14.2%
Net income growth (QoQ)	-0.17%
Net income growth 3Y	13.49%
Net income growth 5Y	12.57%
Net income growth quarters	10
Net income growth years	5
OCF growth	6.39%
OCF growth (Q)	12.17%
OCF growth (QoQ)	14.66%
OCF growth 10Y	10.67%
OCF growth 3Y	9.29%
OCF growth 5Y	13.08%
Operating income growth	10.7%
Operating income growth (Q)	17.36%
Operating income growth 3Y	12.6%
Operating income growth 5Y	12.43%
Revenue growth	8.94%
Revenue growth (Q)	12.96%
Revenue growth (QoQ)	1.82%
Revenue growth 10Y	7.12%
Revenue growth 3Y	9.23%
Revenue growth 5Y	8.48%
Revenue growth quarters	4
Revenue growth years	4

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-93.7M
Depreciation and amortization	$333.3M
EBIT	$4.6B
EBITDA	$4.9B
EPS	$12.19
FCF per share	$12.11
Financing cash flow	$-18.5M
Free cash flow	$4.3B
Free cash flow minus SBC	$4.2B
Gross profit	$7B
Income taxes	$1.4B
Investing cash flow	$1.5B
Net cash flow	$5.9B
Net income	$4.4B
Operating cash flow minus SBC	$4.3B
Operating income	$4.6B
Revenue	$7B
Stock-based compensation	$99.6M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	0.54
Book value per share	$74.31
Debt / EBITDA	0.77
Debt / equity	0.15
Debt / FCF	0.89
Goodwill	$10.5B
Interest coverage	26.42
Long-term assets	$33B
Long-term liabilities	$9.4B
Net cash (debt)	$-1.5B
Net cash / market cap	-1.45%
Net debt / EBITDA	0.31
Net debt / equity	0.06
Net debt / FCF	0.35
Piotroski F-Score	4
Property, plant and equipment	$698.1M
Shareholders' equity	$26.6B
Tangible book value	$-3.6B
Tangible book value per share	$-9.96
Total assets	$192.1B
Total cash	$2.3B
Total debt	$3.9B
Total liabilities	$165.5B
WACC	5.65%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.04
Current assets	$159.1B
Current liabilities	$156.1B
Current ratio	1.02
Net working capital	$758.2M
Quick ratio	0.02
Working capital	$3B
Working capital turnover	2.23

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.16%
Dividend growth	5.61%
Dividend growth (10Y)	8.07%
Dividend growth (3Y)	8.69%
Dividend growth (5Y)	13.31%
Dividend growth years	0
Dividend payment date	2026-09-25
Dividend payment years	24
Dividend payout frequency	Quarterly
Dividend per share	$11.35
Dividend yield	3.86%
Ex-dividend date	2026-09-09
FCF payout ratio	93.34%
Last dividend	$1.30
Payout ratio	92.66%
Shareholder yield	3.7%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	193.67%
10Y return CAGR	15.75%
10Y total return	331.49%
150-day SMA	$272.81
15Y price change	431.16%
15Y return CAGR	16.6%
15Y total return	900.88%
1D price change	0.18%
1M price change	11.17%
1M total return	11.17%
1W price change	-0.6%
1W total return	-0.6%
1Y price change	8.46%
1Y return CAGR	12.68%
1Y total return	12.67%
20-day SMA	$285.59
200-day SMA	$279.91
20Y price change	190.94%
20Y return CAGR	9.33%
20Y total return	495.56%
3M price change	15.14%
3M total return	15.68%
3Y price change	40.66%
3Y return CAGR	16.92%
3Y total return	59.84%
50-day SMA	$279.10
50-day SMA vs 200-day SMA	50under200
52-week high	$329.16
52-week high date	2026-03-03
52-week low	$218.31
52-week low date	2026-06-29
5Y price change	35.46%
5Y return CAGR	10.82%
5Y total return	67.12%
6M price change	4.29%
6M total return	5.32%
All-time high	$329.16
All-time high date	2026-03-03
All-time low	$7.78
All-time low date	2002-12-06
Average true range (ATR)	$6.61
Average volume	2.1M
Beta (1Y)	0.22
Beta (2Y)	0.15
Beta (5Y)	0.27
Change from 52-week high	-10.68%
Change from 52-week low	34.68%
Change from all-time high	-10.68%
Change from all-time low	3,679.18%
Change from open	0.4%
Day's gap	-0.22%
Dollar volume	$293.1M
High price	$295.17
Low price	$291.46
Monthly RSI	56.56
Open price	$292.84
Position in 52-week range	69%
Premarket change	0.48%
Premarket close	$293.48
Premarket price	$294.88
Premarket volume	524
Previous close	$293.48
Price vs 150-day SMA	7.77%
Price vs 20-day SMA	2.95%
Price vs 200-day SMA	5.04%
Price vs 50-day SMA	5.35%
Relative volume	0.48
RSI	58.41
Sharpe ratio	0.44
Sharpe ratio (3Y)	0.64
Sharpe ratio (5Y)	0.42
Sortino ratio	0.85
Sortino ratio (3Y)	1.17
Sortino ratio (5Y)	0.86
Volume	996.8K
Weekly RSI	56.2
YTD price change	7.67%
YTD total return	11.33%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	353M
Float percentage	98.62%
Shares change (QoQ)	-0.73%
Shares change (YoY)	0.16%
Shares held by insiders	0.29%
Shares held by institutions	91.2%
Shares outstanding	357.9M
Short % of float	1.41%
Short % of shares	1.39%
Short ratio	3 days

Deeper analysis on CME

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this CME report

What is the latest published CME stock rating?

CME Group Inc. is shown with Reduce in the latest published report, analyzed 2026-05-20. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full CME analysis?

The full latest published report, analyzed 2026-05-20, lives at /stocks/CME/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for CME?

The latest published report analyzed 2026-05-20 gives CME a fair value of USD 261 and a potential value of USD 341. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the CME page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-05-20). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceCME · Fair value $261-13.6%

Read full analysis →

Category	Score	Reading
Valuation	3.0
Management	6.9
Balance Sheet	7.0
Profitability	7.5
Revenue Growth	6.0
Risk Assessment	8.5
Competitive Moat	9.0
Earnings Quality	7.5
Capital Efficiency	4.5

CME Group Inc. (CME)

Our latest published analysis: CME rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · CME

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All CME indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on CME

Frequently asked questions

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