January 17, 2026 a 07:46 am
CBOE: Dividend Analysis - Cboe Global Markets, Inc.
As a leading financial exchange operator, Cboe Global Markets, Inc. showcases robust dividend sustainability with a commendable dividend history and reasonable payout ratios. Despite a moderate yield, the company's stable financial health and strategic growth indicate potential for steady investor returns. Investors should consider the overall market conditions alongside sector performance for optimal evaluation.
📊 Overview
| Parameter | Value |
|---|---|
| Sector | Financial Services |
| Dividend yield | 1.05% |
| Current dividend per share | 2.37 USD |
| Dividend history | 16 years |
| Last cut or suspension | 2014 |
🗣️ Dividend History
Cboe demonstrates a consistent dividend payment history, reflecting a strong commitment to returning capital to shareholders. This history is crucial as it signals financial stability and management's confidence in sustainable earnings growth.
| Year | Dividend per Share (USD) |
|---|---|
| 2025 | 2.70 |
| 2024 | 2.36 |
| 2023 | 2.10 |
| 2022 | 1.96 |
| 2021 | 1.80 |
📈 Dividend Growth
The dividend growth shown by Cboe over 3 and 5 years underscores a sustainable upward trend, fundamental to long-term value creation. Steady growth rates indicate a positive outlook for future income generation.
| Time | Growth |
|---|---|
| 3 years | 11.27% |
| 5 years | 11.59% |
The average dividend growth is 11.59% over 5 years. This shows moderate but steady dividend growth.
✅ Payout Ratio
The payout ratios indicate how well Cboe is covering its dividend payments with income. A lower payout ratio suggests sustainable dividends and potential for future increases.
| Key figure | Ratio |
|---|---|
| EPS-based | 25.29% |
| Free cash flow-based | 21.65% |
With a 25.29% EPS payout and 21.65% FCF payout, Cboe maintains a conservative approach, ensuring dividend safety and room for strategic capital allocation.
📊 Cashflow & Capital Efficiency
Evaluating cashflow health and capital efficiency is essential for assessing the company's ability to sustain operations and dividends.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Free Cash Flow Yield | 4.69% | 3.96% | 6.06% |
| Earnings Yield | 3.72% | 4.03% | 1.76% |
| CAPEX to Operating Cash Flow | 5.94% | 5.67% | 6.88% |
| Stock-based Compensation to Revenue | 0% | 0% | 0% |
| Free Cash Flow / Operating Cash Flow Ratio | 94.06% | 94.33% | 93.12% |
The stable cash flow ratios reflect Cboe's ability to generate cash efficiently, paving the way for consistent dividend payouts and potential reinvestments.
⚖️ Balance Sheet & Leverage Analysis
Understanding leverage metrics gives insight into the company's long-term financial health and ability to manage debt effectively.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Debt-to-Equity | 0.37 | 0.40 | 0.54 |
| Debt-to-Assets | 0.21 | 0.22 | 0.27 |
| Debt-to-Capital | 0.27 | 0.29 | 0.35 |
| Net Debt to EBITDA | 0.54 | 0.84 | 2.18 |
| Current Ratio | 1.78 | 1.43 | 1.05 |
| Quick Ratio | 1.78 | 1.43 | 1.05 |
| Financial Leverage | 1.82 | 1.88 | 2.02 |
Cboe's leverage ratios remain reasonably controlled, indicating sound management practices and solid balance sheet strength.
🔍 Fundamental Strength & Profitability
These metrics reveal the effectiveness with which Cboe converts revenue into profits and utilizes its capital for earnings growth.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Return on Equity | 17.87% | 19.11% | 6.78% |
| Return on Assets | 9.82% | 10.17% | 3.36% |
| Margins: Net | 18.68% | 20.18% | 5.94% |
| Margins: EBIT | 27.73% | 29.42% | 12.45% |
| Margins: EBITDA | 30.98% | 33.60% | 16.66% |
| Margins: Gross | 50.61% | 50.83% | 43.99% |
| Research & Development to Revenue | 0% | 0% | 0% |
Strong profitability ratios, particularly ROE and EBITDA margins, illustrate Cboe's ability to effectively leverage equity and optimize profitability.
📉 Price Development
📊 Dividend Scoring System
| Criteria | Score | Score Bar |
|---|---|---|
| Dividend yield | 3 | |
| Dividend Stability | 5 | |
| Dividend growth | 4 | |
| Payout ratio | 4 | |
| Financial stability | 5 | |
| Dividend continuity | 5 | |
| Cashflow Coverage | 5 | |
| Balance Sheet Quality | 4 |
Total Score: 35/40
📝 Rating
Cboe Global Markets, Inc. receives a high rating for its dividend sustainability and strong financial health. With its robust payout ratios and consistent dividend growth, the company is well-positioned for continued shareholder returns. Cboe is an attractive choice for investors seeking stable income and potential capital appreciation in the financial services sector.