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Here's What Key Metrics Tell Us About CBOE (CBOE) Q3 Earnings

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For the quarter ended September 2026, CBOE Global (CBOE - Free Report) reported revenue of $712.2 million, up 17.6% over the same period last year. EPS came in at $3.63, compared to $2.67 in the year-ago quarter.

The reported revenue represents a surprise of +0.99% over the Zacks Consensus Estimate of $705.22 million. With the consensus EPS estimate being $3.43, the EPS surprise was +5.83%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how CBOE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Average Daily Volume by Product - Options - Index options: 6.05 million versus the five-analyst average estimate of 6.05 million.
  • Average Revenue Per Contract by Product - Futures: $1.71 versus the five-analyst average estimate of $1.73.
  • Average Revenue Per Contract by Product - Options - Index options: $0.95 compared to the $0.95 average estimate based on five analysts.
  • Average Revenue Per Contract by Product - Options - Multiple - Listed Options: $0.05 versus $0.05 estimated by five analysts on average.
  • Revenues- Access and capacity fees- Total: $120.4 million versus $117.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
  • Revenues- Regulatory fees- Total: $155.5 million versus the four-analyst average estimate of $13.2 million. The reported number represents a year-over-year change of +1217.8%.
  • Revenues- Market data fees- Total: $87.7 million compared to the $91.5 million average estimate based on four analysts. The reported number represents a change of +4.8% year over year.
  • Revenues- Net transaction and clearing fees: $540.5 million versus the four-analyst average estimate of $536.98 million. The reported number represents a year-over-year change of +21%.
  • Revenues- Other revenue- Total: $31.7 million versus the three-analyst average estimate of $24.53 million. The reported number represents a year-over-year change of +41.5%.
  • Revenues- Net transaction and clearing fees- Global FX: $23.7 million versus the two-analyst average estimate of $23.53 million. The reported number represents a year-over-year change of +24.1%.
  • Revenues- Data Vantage: $182.6 million versus the two-analyst average estimate of $181.86 million. The reported number represents a year-over-year change of +12.7%.
  • Revenues- Net transaction and clearing fees- Futures: $20.5 million versus the two-analyst average estimate of $20.48 million. The reported number represents a year-over-year change of -8.5%.

View all Key Company Metrics for CBOE here>>>

Shares of CBOE have returned +13.4% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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