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Earnings transcript
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CME
CME Group Inc.
$220.83
2.25
(1.03%)
| Exchange: | NASDAQ |
| Market Cap: | 80.019B |
| Shares Outstanding: | 143.874M |
Delayed data
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., through its various subsidiaries, manages international marketplaces for the exchange of futures and options on futures contracts worldwide. Its extensive array of product offerings includes futures and options linked to a broad spectrum of underlying assets, such as interest rates, equity indices, foreign exchange, agricultural commodities, energy, and metals, alongside fixed-income products. The company additionally furnishes essential clearinghouse services, which entail the verification, settlement, and guarantee of futures, options, and cleared swap agreements traded across its venues. It also offers services for transaction processing and risk mitigation. Furthermore, the organization provides diverse market data services, encompassing both real-time and historical data feeds. Its wide-ranging client base consists of professional traders, financial institutions, both institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. Founded in Chicago, Illinois, in 1898, the enterprise was formerly known as Chicago Mercantile Exchange Holdings Inc. before rebranding as CME Group Inc. in July 2007.
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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 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 8,399,762.761 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 8,912,639.896 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 8,677,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 7,666,864.239 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 8,134,991.670 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 7,919,911.894 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 5,420,742.971 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 5,855,324.461 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 5,655,658.115 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 218,952.403 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 232,321.314 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 226,179.007 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 15.700 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 16.250 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 15.050 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 7 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research 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.
[intrinsic_calculator]
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
1.03
Trading Metrics:
| Open: | 220.3 | Previous Close: | 218.58 | |
| Day Low: | 218.71 | Day High: | 224.92 | |
| Year Low: | 218.31 | Year High: | 329.16 | |
| Price Avg 50: | 272.43 | Price Avg 200: | 280.69 | |
| Volume: | 4.009M | Average Volume: | 3.051M |
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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…
