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Earnings transcript
Read the complete earnings call transcript.
CME
CME Group Inc.
$305.11
8.17
(2.75%)
| Exchange: | NASDAQ |
| Market Cap: | 109.419B |
| Shares Outstanding: | 143.874M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Data & Stock Exchanges | |||||
| CEO: | Terrence A. Duffy | |||||
| Full Time Employees: | 3760 | |||||
| Address: |
| |||||
| Website: | https://www.cmegroup.com |
CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products. The company also provides clearing house services, including clearing, settling, and guaranteeing futures and options contracts, and cleared swaps products traded through its exchanges; and trade processing and risk mitigation services. In addition, the company offers a range of market data services, including real-time and historical data services. It serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 5,578,900 | 6,130,100 | 6,520,600 |
| Gross Profit | 4,750,300 | 5,279,800 | 5,613,600 |
| EBITDA | 4,665,600 | 5,039,100 | 5,720,300 |
| Operating Income | 3,435,700 | 3,931,500 | 4,229,500 |
| Net Income | 3,226,200 | 3,525,800 | 4,044,400 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 129,706,100 | 137,447,000 | 198,424,200 |
| Total Liabilities | 102,968,200 | 110,960,100 | 169,696,000 |
| Total Stockholders Equity | 26,737,900 | 26,486,900 | 28,728,200 |
| Total Debt | 3,883,900 | 3,428,000 | 3,422,300 |
| Cash and Cash Equivalents | 2,912,000 | 2,892,400 | 4,423,400 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,453,800 | 3,690,500 | 4,277,100 |
| Capital Expenditure | -76,400 | -94,000 | 0 |
| Free Cash Flow | 3,377,400 | 3,596,500 | 4,277,100 |
| Net Income | 3,226,200 | 3,525,800 | 4,044,400 |
| Net Change in Cash | -44,864,600 | 8,684,400 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 8,296,765.455 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 9,004,994.065 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 8,656,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 7,572,853.683 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 8,219,287.727 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 7,900,744.192 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 4,958,607.258 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 5,516,111.055 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 5,241,390.164 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 216,267.624 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 234,728.664 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 225,631.611 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 14.550 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 15.310 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 13.770 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: CME Group demonstrates strong revenue and net income figures as per the latest income statements, with consistent growth in operating cash flow and free cash flow. This indicates a solid operational foundation and the ability to generate sustainable cash for reinvestment or shareholder returns.
- Market Leadership in Derivatives: As a leading global derivatives marketplace, CME benefits from a dominant position in its industry (Financial Exchanges & Data) and sector (Financials), reflected in its high market capitalization and average trading volume, positioning it as a trusted platform for risk management and trading.
- High Profitability Metrics: Key metrics such as gross profit margin TTM and net profit margin TTM are indicative of efficient cost management and strong profitability compared to industry averages, supported by a healthy return on equity (ROE) TTM.
- Dividend Yield and Shareholder Returns: CME offers a competitive dividend yield TTM, supported by consistent dividend payments as seen in cash flow statements, making it attractive to income-focused investors.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates CME intrinsic value between $147.02 – $211.38 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about CME valuation
Is CME Group Inc. (CME) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for CME Group Inc. (CME) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is CME a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CME trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is CME’s P/E ratio?
You can see CME’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for CME?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is CME a good long-term investment?
Whether CME fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
CME
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Daily snapshot
2.75
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Daily snapshotTrading Metrics:
| Open: | 300.4 | Previous Close: | 296.94 | |
| Day Low: | 297.82 | Day High: | 305.9 | |
| Year Low: | 248.53 | Year High: | 329.16 | |
| Price Avg 50: | 303.83 | Price Avg 200: | 279.91 | |
| Volume: | 1.588M | Average Volume: | 2.292M |
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Login — it's freeCME full analysis
Welcome to MARKETSNAP’s SWOT analysis for CME Group! If you’re a long-term investor looking to dig into one of the heavyweights in the financial markets, you’re in the right place. Today, we’re breaking down CME Group, a global leader in derivatives and futures exchanges, often referred to by its ticker, CME. Most of you probably know this giant already—it’s the backbone of trading for commodities, interest rates, and more. So, let’s skip the basics and dive straight into what’s been…
