CME Group (CME) Financials

$271.61 +0.22 (+0.08%)

Closing price 08/26/2025 04:00 PM Eastern

Extended Trading

$271.62 +0.01 (+0.01%)

As of 05:30 AM Eastern

Annual Income Statements for CME Group

This table shows CME Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	1,127	1,247	1,534	4,063	1,961	4,233	2,105	2,617	2,657	3,186	3,482
Consolidated Net Income / (Loss)	1,127	1,247	1,534	4,063	1,962	4,232	2,106	2,637	2,691	3,226	3,526
Net Income / (Loss) Continuing Operations	1,127	1,247	1,534	4,063	1,964	4,232	2,106	2,637	2,691	3,226	3,526
Total Pre-Tax Income	1,771	1,957	2,288	2,526	2,778	2,690	2,722	3,374	3,490	4,154	4,541
Total Operating Income	1,768	1,989	2,201	2,311	2,608	2,588	2,637	2,645	3,016	3,436	3,932
Total Gross Profit	2,446	2,649	3,052	3,081	3,520	3,969	4,027	3,853	4,266	4,750	5,280
Total Revenue	3,113	3,327	3,595	3,645	4,309	4,868	4,884	4,690	5,019	5,579	6,130
Operating Revenue	3,055	3,269	3,595	3,645	4,309	4,868	4,884	4,690	5,019	5,579	6,130
Total Cost of Revenue	666	678	543	564	789	899	857	837	753	829	850
Operating Cost of Revenue	666	678	543	564	789	899	857	837	753	829	850
Total Operating Expenses	678	661	852	770	912	1,382	1,390	1,208	1,250	1,315	1,348
Selling, General & Admin Expense	258	247	393	314	493	535	482	393	379	421	400
Depreciation Expense	133	129	129	113	119	159	153	148	135	126	115
Amortization Expense	101	99	96	96	130	315	311	238	228	227	222
Other Operating Expenses / (Income)	187	185	233	248	171	374	443	430	509	542	611
Total Other Income / (Expense), net	3.00	-32	87	216	170	102	85	728	474	718	610
Interest Expense	119	117	124	117	158	178	166	167	163	159	161
Interest & Investment Income	121	130	252	661	898	815	373	553	2,500	5,572	4,430
Other Income / (Expense), net	1.80	-45	-41	-328	-570	-535	-122	343	-1,862	-4,695	-3,659
Income Tax Expense	645	710	754	-1,537	814	574	616	737	799	927	1,016
Basic Earnings per Share	$3.37	$3.71	$4.55	$12.00	$5.73	$5.93	$5.88	$7.30	$7.41	$8.87	$9.69
Weighted Average Basic Shares Outstanding	334.41M	336.22M	337.50M	338.71M	342.34M	357.16M	357.76M	358.34M	358.71M	359.02M	359.39M
Diluted Earnings per Share	$3.35	$3.69	$4.53	$11.94	$5.71	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67
Weighted Average Diluted Shares Outstanding	336.06M	337.89M	338.97M	340.23M	343.74M	358.24M	358.52M	358.93M	359.18M	359.50M	359.94M
Weighted Average Basic & Diluted Shares Outstanding	337.34M	338.42M	339.65M	340.39M	342.34M	357.16M	359.01M	359.40M	359.72M	359.99M	360.36M
Cash Dividends to Common per Share	$3.88	$4.90	$5.65	$6.14	$4.55	$5.50	$5.90	$6.85	-	-	$10.40

This table shows CME Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	604	884	778	750	774	855	883	913	830	956	1,025
Consolidated Net Income / (Loss)	638	884	778	750	815	855	883	913	875	956	1,025
Net Income / (Loss) Continuing Operations	638	884	778	750	815	855	883	913	875	956	1,025
Total Pre-Tax Income	827	1,157	1,016	974	1,006	1,113	1,155	1,177	1,097	1,245	1,330
Total Operating Income	668	914	839	820	863	960	1,001	1,024	947	1,108	1,129
Total Gross Profit	1,015	1,237	1,155	1,132	1,226	1,282	1,328	1,366	1,305	1,436	1,470
Total Revenue	1,208	1,442	1,360	1,338	1,439	1,488	1,533	1,584	1,525	1,642	1,692
Operating Revenue	1,208	1,442	1,360	1,338	1,439	1,488	1,533	1,584	1,525	1,642	1,692
Total Cost of Revenue	193	205	206	206	213	206	205	219	221	207	222
Operating Cost of Revenue	193	205	206	206	213	206	205	219	221	207	222
Total Operating Expenses	347	323	316	312	363	322	327	341	357	328	341
Selling, General & Admin Expense	134	99	95	89	138	90	93	93	124	83	91
Depreciation Expense	34	32	32	31	31	30	29	28	28	27	27
Amortization Expense	57	57	57	57	56	55	56	56	55	55	56
Other Operating Expenses / (Income)	122	136	132	135	139	147	150	164	150	162	167
Total Other Income / (Expense), net	159	243	178	154	143	154	154	153	150	137	201
Interest Expense	40	40	40	40	40	40	40	40	41	42	44
Interest & Investment Income	1,216	1,436	1,643	1,349	1,144	1,159	1,131	1,113	1,028	981	1,617
Other Income / (Expense), net	-1,017	-1,153	-1,425	-1,156	-961	-965	-937	-920	-838	-802	-1,372
Income Tax Expense	189	273	239	224	191	258	271	264	222	289	305
Basic Earnings per Share	$1.76	$2.43	$2.14	$2.06	$2.24	$2.35	$2.43	$2.51	$2.40	$2.63	$2.81
Weighted Average Basic Shares Outstanding	358.71M	358.93M	358.94M	359.02M	359.02M	359.26M	359.33M	359.40M	359.39M	359.61M	359.66M
Diluted Earnings per Share	$1.76	$2.43	$2.14	$2.06	$2.23	$2.35	$2.42	$2.50	$2.40	$2.62	$2.81
Weighted Average Diluted Shares Outstanding	359.18M	359.31M	359.43M	359.62M	359.50M	359.83M	359.87M	359.99M	359.94M	360.23M	360.36M
Weighted Average Basic & Diluted Shares Outstanding	359.72M	359.72M	719.50M	719.99M	359.99M	720.13M	720.19M	360.36M	360.36M	360.36M	360.38M
Cash Dividends to Common per Share	-	$1.10	$1.10	$1.10	-	$1.15	$1.15	$1.15	-	$1.25	$1.25

This table details how cash moves in and out of CME Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-1,104	327	165	-54	-529	-2,199	49,787	72,370	-22,816	-44,865	8,684
Net Cash From Operating Activities	1,291	1,533	1,732	-1,751	2,441	2,673	2,716	2,402	3,056	3,454	3,691
Net Cash From Continuing Operating Activities	1,291	1,524	1,732	1,751	2,441	2,673	2,716	2,402	3,056	3,454	3,691
Net Income / (Loss) Continuing Operations	1,127	1,247	1,534	4,063	1,964	2,116	2,106	2,637	2,691	3,226	3,526
Consolidated Net Income / (Loss)	1,127	1,247	1,534	4,063	1,964	2,116	2,106	2,637	2,691	3,226	3,526
Depreciation Expense	133	129	129	113	119	159	153	148	135	126	115
Amortization Expense	101	99	96	96	130	315	311	238	228	227	222
Non-Cash Adjustments To Reconcile Net Income	125	189	43	-2,415	10	104	129	-438	56	-64	83
Changes in Operating Assets and Liabilities, net	-197	-132	-70	-105	226	-21	16	-182	-54	-61	-255
Net Cash From Investing Activities	-199	18	54	180	-1,890	-153	-176	58	-490	21	-83
Net Cash From Continuing Investing Activities	-199	18	54	180	-1,890	-153	-176	58	-490	21	-83
Purchase of Property, Plant & Equipment	-141	-114	-92	-82	-117	-246	-198	-127	-90	-76	-94
Acquisitions	-	-	0.00	0.00	-1,795	0.00	0.00	-53	-410	0.00	0.00
Purchase of Investments	-104	-45	-55	-8.30	-10	-15	-17	-12	-7.50	-6.50	-8.10
Sale and/or Maturity of Investments	38	177	192	2.50	12	108	39	111	17	104	20
Net Cash From Financing Activities	-2,196	-1,224	-1,621	-1,985	-1,080	-4,719	47,247	69,909	-25,382	-48,339	5,077
Net Cash From Continuing Financing Activities	-2,191	-1,224	-1,621	-1,985	-1,080	-4,719	47,247	69,909	-25,382	-48,339	5,077
Repayment of Debt	-748	-671	2.20	40	-437	-624	-2.20	-3.10	-764	-26	-9.20
Payment of Dividends	-1,497	-1,343	-1,787	-1,994	-2,150	-1,696	-2,110	-2,189	-2,634	-3,236	-3,584
Issuance of Debt	0.00	744	0.00	0.00	387	-	-305	0.00	741	0.00	0.00
Other Financing Activities, net	57	47	165	-31	-65	-2,399	49,663	71,136	-22,725	-45,078	8,670
Cash Interest Paid	111	89	85	85	108	146	133	133	133	130	130
Cash Income Taxes Paid	642	717	707	763	577	591	653	755	973	1,109	1,198

This table details how cash moves in and out of CME Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-4,135	-8,313	-14,534	-25,630	3,612	2,806	-8,451	14,321	8.50	20,312	22,040
Net Cash From Operating Activities	982	902	650	857	1,044	893	777	1,003	1,018	1,117	1,059
Net Cash From Continuing Operating Activities	982	902	650	857	1,044	893	777	1,003	1,018	1,117	1,059
Net Income / (Loss) Continuing Operations	638	884	778	750	815	855	883	913	875	956	1,025
Consolidated Net Income / (Loss)	638	884	778	750	815	855	883	913	875	956	1,025
Depreciation Expense	34	32	32	31	31	30	29	28	28	27	27
Amortization Expense	57	57	57	57	56	55	56	56	55	55	56
Non-Cash Adjustments To Reconcile Net Income	2.60	-39	10	37	-73	24	-8.50	30	38	24	15
Changes in Operating Assets and Liabilities, net	250	-31	-227	-19	216	-72	-182	-23	22	54	-65
Net Cash From Investing Activities	-26	-17	78	-20	-20	-23	-5.00	-30	-25	-16	-18
Net Cash From Continuing Investing Activities	-26	-17	78	-20	-20	-23	-5.00	-30	-25	-16	-18
Purchase of Property, Plant & Equipment	-24	-15	-21	-20	-21	-20	-18	-30	-26	-14	-18
Purchase of Investments	-2.70	-2.70	-2.30	-0.40	-1.10	-4.70	-1.90	-1.30	-0.20	-5.40	-0.80
Sale and/or Maturity of Investments	1.40	0.70	101	0.80	1.50	1.70	15	1.60	1.10	3.60	1.20
Net Cash From Financing Activities	-5,091	-9,199	-15,263	-26,467	2,589	1,936	-9,223	13,347	-984	19,211	20,999
Net Cash From Continuing Financing Activities	-5,091	-9,199	-15,263	-26,467	2,589	1,936	-9,223	13,347	-984	19,211	20,999
Repayment of Debt	1.00	-4.10	-13	-	-8.90	-4.30	-0.30	-4.40	-0.20	-754	-0.10
Payment of Dividends	-364	-2,036	-400	-400	-400	-2,328	-419	-419	-419	-2,567	-455
Other Financing Activities, net	-4,729	-7,159	-14,850	-26,067	2,998	4,269	-8,804	13,770	-565	21,791	21,463
Cash Interest Paid	25	41	24	41	24	41	24	41	24	41	24
Cash Income Taxes Paid	169	31	581	272	226	115	535	289	259	13	567

This table presents CME Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	72,242	67,359	69,369	75,791	77,476	75,215	124,660	196,780	174,176	129,706	137,447
Total Current Assets	42,545	37,905	40,032	46,907	41,887	39,568	89,284	161,762	139,078	94,890	103,034
Cash & Equivalents	1,366	1,693	1,869	1,904	1,375	1,551	1,633	2,835	2,720	2,912	2,892
Short-Term Investments	75	73	83	90	73	83	101	115	96	112	113
Accounts Receivable	341	358	364	360	553	492	461	435	483	536	573
Other Current Assets	40,763	35,782	37,715	44,553	39,886	37,441	87,089	158,377	135,779	91,331	99,455
Plant, Property, & Equipment, net	509	492	425	400	449	544	579	505	456	410	386
Total Noncurrent Assets	29,187	28,963	28,913	28,485	35,140	35,104	34,797	34,513	34,642	34,406	34,027
Goodwill	7,569	7,569	7,569	7,569	10,805	10,743	10,799	10,528	10,483	10,495	10,487
Intangible Assets	19,813	19,713	19,617	19,522	22,675	22,293	17,175	20,707	20,445	20,226	19,997
Other Noncurrent Operating Assets	1,806	1,681	1,727	1,394	1,660	2,068	1,957	3,278	3,714	3,686	3,544
Total Liabilities & Shareholders' Equity	72,242	67,359	69,369	75,791	77,476	75,215	124,660	196,780	174,176	129,706	137,447
Total Liabilities	51,318	46,808	49,029	53,379	51,510	49,056	98,308	169,381	147,297	102,968	110,960
Total Current Liabilities	41,531	36,825	38,946	45,673	41,273	38,523	88,198	160,398	137,688	93,417	102,314
Short-Term Debt	-	-	-	0.00	574	-	0.00	749	16	0.00	750
Accounts Payable	37	29	26	31	116	62	69	49	121	91	80
Other Current Liabilities	41,494	36,796	38,919	45,642	40,582	38,461	88,129	159,600	137,550	93,326	101,484
Total Noncurrent Liabilities	9,787	9,983	10,083	7,707	10,238	10,534	10,110	8,983	9,610	9,551	8,646
Long-Term Debt	2,108	2,229	2,231	2,233	3,827	3,743	3,444	2,696	3,422	3,425	2,678
Noncurrent Deferred & Payable Income Tax Liabilities	7,303	7,358	7,291	4,858	5,666	5,635	5,607	5,390	5,361	5,328	5,247
Other Noncurrent Operating Liabilities	376	396	561	616	745	1,155	1,059	897	826	798	721
Total Equity & Noncontrolling Interests	20,924	20,552	20,341	22,412	25,965	26,159	26,352	27,399	26,879	26,738	26,487
Total Preferred & Common Equity	20,924	20,552	20,341	22,412	25,919	26,129	26,320	27,399	26,879	26,738	26,487
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	20,924	20,552	20,341	22,412	25,919	26,129	26,320	27,399	26,879	26,738	26,487
Common Stock	17,600	17,725	17,830	17,900	21,058	21,117	21,189	22,194	22,265	22,338	22,407
Retained Earnings	3,317	2,908	2,525	4,497	4,855	5,009	4,996	5,152	4,747	4,455	4,186
Accumulated Other Comprehensive Income / (Loss)	6.20	-81	-14	14	5.30	3.40	135	54	-133	-56	-106

This table presents CME Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	174,176	166,039	151,297	125,598	129,706	132,054	123,379	137,795	137,447	157,832	179,907
Total Current Assets	139,078	131,032	116,366	90,777	94,890	97,308	88,749	103,143	103,034	123,445	145,450
Cash & Equivalents	2,720	1,565	1,880	2,300	2,912	1,437	1,790	2,322	2,892	1,405	1,981
Short-Term Investments	96	105	107	104	112	121	122	112	113	114	118
Accounts Receivable	483	724	599	558	536	628	600	629	573	770	668
Other Current Assets	135,779	128,638	113,780	87,814	91,331	95,122	86,238	100,079	99,455	121,156	142,684
Plant, Property, & Equipment, net	456	440	430	417	410	396	385	386	386	371	363
Total Noncurrent Assets	34,642	34,567	34,501	34,404	34,406	34,350	34,246	34,266	34,027	34,015	34,094
Goodwill	10,483	10,491	10,491	10,478	10,495	10,490	10,489	10,514	10,487	10,500	10,524
Intangible Assets	20,445	20,393	20,336	20,271	20,226	20,165	20,108	20,068	19,997	19,949	19,904
Other Noncurrent Operating Assets	3,714	3,684	3,674	3,656	3,686	3,695	3,650	3,685	3,544	3,567	3,666
Total Liabilities & Shareholders' Equity	174,176	166,039	151,297	125,598	129,706	132,054	123,379	137,795	137,447	157,832	179,907
Total Liabilities	147,297	138,655	123,479	97,447	102,968	104,900	95,744	109,579	110,960	130,801	152,168
Total Current Liabilities	137,688	129,044	113,886	87,881	93,417	96,101	86,974	100,822	102,314	121,420	142,795
Short-Term Debt	16	16	0.00	0.00	0.00	749	750	750	750	0.00	0.00
Accounts Payable	121	97	51	54	91	111	100	130	80	100	92
Other Current Liabilities	137,550	128,930	113,835	87,827	93,326	95,241	86,125	99,942	101,484	121,320	142,703
Total Noncurrent Liabilities	9,610	9,611	9,593	9,566	9,551	8,798	8,770	8,757	8,646	9,381	9,373
Long-Term Debt	3,422	3,423	3,424	3,425	3,425	2,677	2,677	2,678	2,678	3,419	3,420
Noncurrent Deferred & Payable Income Tax Liabilities	5,361	5,357	5,344	5,333	5,328	5,317	5,309	5,310	5,247	5,240	5,233
Other Noncurrent Operating Liabilities	826	831	826	809	798	804	783	769	721	721	720
Total Equity & Noncontrolling Interests	26,879	27,384	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739
Total Preferred & Common Equity	26,879	27,384	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	26,879	27,384	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739
Common Stock	22,265	22,285	22,311	22,313	22,338	22,349	22,376	22,379	22,407	22,420	22,439
Retained Earnings	4,747	5,230	5,607	5,956	4,455	4,891	5,355	5,848	4,186	4,686	5,255
Accumulated Other Comprehensive Income / (Loss)	-133	-131	-100	-117	-56	-86	-95	-11	-106	-75	45

This table displays calculated financial ratios and metrics derived from CME Group's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.00%	6.89%	8.07%	1.38%	18.24%	12.96%	0.32%	-3.97%	7.03%	11.15%	9.88%
EBITDA Growth	6.84%	8.45%	9.74%	-8.12%	4.35%	10.49%	17.94%	13.22%	-55.05%	-159.80%	167.19%
EBIT Growth	8.14%	9.82%	11.06%	-8.18%	2.78%	0.75%	22.51%	18.80%	-61.39%	-209.16%	121.62%
NOPAT Growth	12.49%	12.65%	16.44%	151.85%	-50.40%	10.43%	0.25%	1.31%	12.46%	14.77%	14.38%
Net Income Growth	15.21%	10.66%	23.02%	164.87%	-51.71%	115.66%	-50.22%	25.19%	2.05%	19.89%	9.29%
EPS Growth	14.73%	10.15%	22.76%	163.58%	-52.18%	3.50%	-0.68%	24.19%	1.51%	19.73%	9.14%
Operating Cash Flow Growth	0.85%	18.67%	13.02%	-201.10%	239.39%	9.51%	1.60%	-11.53%	27.21%	13.02%	6.85%
Free Cash Flow Firm Growth	-54.36%	81.67%	1.62%	-9.96%	-362.53%	160.73%	164.74%	-136.99%	203.33%	11.45%	8.34%
Invested Capital Growth	0.52%	-2.66%	-1.88%	9.85%	27.67%	-2.25%	-17.94%	20.26%	-1.41%	-1.31%	-0.85%
Revenue Q/Q Growth	5.21%	-0.81%	2.83%	-0.35%	8.47%	-1.98%	-0.81%	1.05%	1.22%	4.33%	1.42%
EBITDA Q/Q Growth	7.90%	-0.11%	2.58%	-4.49%	4.82%	0.11%	1.00%	5.67%	-41.12%	21.39%	50.62%
EBIT Q/Q Growth	9.26%	-0.12%	2.78%	-4.66%	3.29%	-1.04%	1.00%	7.44%	-47.77%	16.62%	320.87%
NOPAT Q/Q Growth	9.94%	-0.98%	3.01%	173.29%	-56.11%	2.77%	-1.03%	4.35%	0.89%	7.33%	1.88%
Net Income Q/Q Growth	11.19%	-1.17%	5.63%	171.33%	-56.55%	108.22%	-50.63%	8.22%	0.47%	5.79%	1.73%
EPS Q/Q Growth	10.56%	-1.07%	5.35%	170.75%	-56.94%	4.05%	-2.17%	7.52%	0.96%	5.60%	1.79%
Operating Cash Flow Q/Q Growth	10.30%	-6.77%	6.67%	-197.81%	319.61%	8.50%	-2.14%	0.33%	11.42%	1.85%	-0.71%
Free Cash Flow Firm Q/Q Growth	-18.48%	11.45%	20.59%	-14.64%	-1,358.48%	222.71%	192.67%	-148.32%	270.31%	8.99%	10.94%
Invested Capital Q/Q Growth	-3.97%	-4.95%	-6.24%	5.96%	14.64%	-3.84%	-20.09%	9.11%	-6.67%	-6.97%	-7.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.59%	79.64%	84.89%	84.53%	81.68%	81.54%	82.46%	82.15%	85.00%	85.15%	86.13%
EBITDA Margin	64.37%	65.31%	66.32%	60.11%	53.05%	51.89%	61.01%	71.93%	30.20%	-16.25%	9.94%
Operating Margin	56.82%	59.78%	61.21%	63.40%	60.51%	53.16%	54.01%	56.40%	60.08%	61.58%	64.13%
EBIT Margin	56.87%	58.44%	60.06%	54.39%	47.28%	42.17%	51.50%	63.71%	22.98%	-22.57%	4.44%
Profit (Net Income) Margin	36.21%	37.48%	42.67%	111.49%	45.53%	86.93%	43.13%	56.23%	53.61%	57.83%	57.52%
Tax Burden Percent	63.62%	63.73%	67.06%	160.84%	70.64%	157.33%	77.38%	78.16%	77.10%	77.67%	77.64%
Interest Burden Percent	100.07%	100.65%	105.95%	127.44%	136.33%	131.01%	108.23%	112.91%	302.58%	-329.86%	1,667.79%
Effective Tax Rate	36.38%	36.27%	32.94%	-60.84%	29.31%	21.33%	22.62%	21.84%	22.90%	22.33%	22.36%
Return on Invested Capital (ROIC)	5.22%	5.95%	7.09%	17.18%	7.15%	7.12%	7.93%	8.09%	8.40%	9.77%	11.29%
ROIC Less NNEP Spread (ROIC-NNEP)	5.61%	2.36%	22.80%	150.95%	14.59%	93.88%	-4.59%	-34.71%	73.86%	118.68%	126.21%
Return on Net Nonoperating Assets (RNNOA)	0.13%	0.06%	0.41%	1.83%	0.96%	9.12%	0.09%	1.72%	1.52%	2.27%	1.95%
Return on Equity (ROE)	5.36%	6.01%	7.50%	19.01%	8.11%	16.24%	8.02%	9.81%	9.92%	12.03%	13.25%
Cash Return on Invested Capital (CROIC)	4.71%	8.65%	8.99%	7.79%	-17.16%	9.40%	27.64%	-10.30%	9.82%	11.09%	12.15%
Operating Return on Assets (OROA)	2.80%	2.79%	3.16%	2.73%	2.66%	2.69%	2.52%	1.86%	0.62%	-0.83%	0.20%
Return on Assets (ROA)	1.78%	1.79%	2.24%	5.60%	2.56%	5.54%	2.11%	1.64%	1.45%	2.12%	2.64%
Return on Common Equity (ROCE)	5.35%	6.01%	7.50%	19.01%	8.10%	16.21%	8.01%	9.81%	9.92%	12.03%	13.25%
Return on Equity Simple (ROE_SIMPLE)	5.39%	6.07%	7.54%	18.13%	7.57%	16.20%	8.00%	9.62%	10.01%	12.07%	13.31%
Net Operating Profit after Tax (NOPAT)	1,125	1,267	1,476	3,716	1,843	2,036	2,041	2,068	2,325	2,669	3,052
NOPAT Margin	36.14%	38.09%	41.05%	101.97%	42.78%	41.82%	41.79%	44.09%	46.33%	47.83%	49.79%
Net Nonoperating Expense Percent (NNEP)	-0.39%	3.59%	-15.71%	-133.77%	-7.44%	-86.76%	12.52%	42.80%	-65.46%	-108.91%	-114.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	7.67%	8.85%	10.20%
Cost of Revenue to Revenue	21.41%	20.36%	15.11%	15.47%	18.32%	18.46%	17.54%	17.85%	15.00%	14.85%	13.87%
SG&A Expenses to Revenue	8.28%	7.43%	10.93%	8.61%	11.44%	10.98%	9.87%	8.37%	7.55%	7.54%	6.53%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.78%	19.86%	23.68%	21.13%	21.17%	28.38%	28.46%	25.75%	24.91%	23.56%	21.99%
Earnings before Interest and Taxes (EBIT)	1,770	1,944	2,159	1,982	2,038	2,053	2,515	2,988	1,154	-1,259	272
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,003	2,173	2,384	2,191	2,286	2,526	2,979	3,373	1,516	-907	609
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	1.09	1.48	1.78	2.03	2.33	2.17	2.70	2.05	2.71	3.16
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	6.64	6.71	8.35	10.93	12.23	12.49	11.68	15.76	10.98	12.98	13.65
Price to Earnings (P/E)	18.33	17.91	19.57	9.80	26.89	14.36	27.09	28.25	20.74	22.74	24.04
Dividend Yield	6.32%	7.42%	6.39%	5.25%	2.94%	3.24%	3.71%	3.33%	5.55%	4.80%	4.48%
Earnings Yield	5.45%	5.58%	5.11%	10.20%	3.72%	6.96%	3.69%	3.54%	4.82%	4.40%	4.16%
Enterprise Value to Invested Capital (EV/IC)	0.99	1.09	1.47	1.77	1.93	2.23	2.53	2.67	2.03	2.68	3.13
Enterprise Value to Revenue (EV/Rev)	6.85	6.85	8.43	11.00	12.93	12.93	12.04	15.87	11.11	13.06	13.72
Enterprise Value to EBITDA (EV/EBITDA)	10.65	10.50	12.71	18.29	24.37	24.91	19.73	22.06	36.77	0.00	138.09
Enterprise Value to EBIT (EV/EBIT)	12.05	11.73	14.03	20.22	27.35	30.66	23.37	24.91	48.33	0.00	308.88
Enterprise Value to NOPAT (EV/NOPAT)	18.96	17.99	20.53	10.78	30.23	30.91	28.80	36.00	23.97	27.30	27.56
Enterprise Value to Operating Cash Flow (EV/OCF)	16.52	14.88	17.49	0.00	22.83	23.55	21.64	30.98	18.24	21.09	22.79
Enterprise Value to Free Cash Flow (EV/FCFF)	21.04	12.38	16.19	23.78	0.00	23.42	8.26	0.00	20.50	24.04	25.62
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.10	0.11	0.11	0.10	0.17	0.14	0.13	0.13	0.13	0.13	0.13
Long-Term Debt to Equity	0.10	0.11	0.11	0.10	0.15	0.14	0.13	0.10	0.13	0.13	0.10
Financial Leverage	0.02	0.03	0.02	0.01	0.07	0.10	-0.02	-0.05	0.02	0.02	0.02
Leverage Ratio	3.01	3.37	3.34	3.40	3.17	2.93	3.81	5.98	6.83	5.67	5.02
Compound Leverage Factor	3.01	3.39	3.54	4.33	4.32	3.84	4.12	6.75	20.68	-18.70	83.71
Debt to Total Capital	9.15%	9.79%	9.88%	9.06%	14.49%	12.52%	11.56%	11.17%	11.34%	11.36%	11.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.89%	0.00%	0.00%	2.43%	0.05%	0.00%	2.51%
Long-Term Debt to Total Capital	9.15%	9.79%	9.88%	9.06%	12.60%	12.52%	11.56%	8.74%	11.29%	11.36%	8.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.15%	0.10%	0.11%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.85%	90.21%	90.12%	90.94%	85.35%	87.38%	88.34%	88.83%	88.66%	88.64%	88.54%
Debt to EBITDA	1.05	1.03	0.94	1.02	1.92	1.48	1.16	1.02	2.27	-3.78	5.63
Net Debt to EBITDA	0.33	0.21	0.12	0.11	1.29	0.83	0.57	0.15	0.41	-0.44	0.69
Long-Term Debt to EBITDA	1.05	1.03	0.94	1.02	1.67	1.48	1.16	0.80	2.26	-3.78	4.40
Debt to NOPAT	1.87	1.76	1.51	0.60	2.39	1.84	1.69	1.67	1.48	1.28	1.12
Net Debt to NOPAT	0.59	0.37	0.19	0.06	1.60	1.04	0.84	0.24	0.27	0.15	0.14
Long-Term Debt to NOPAT	1.87	1.76	1.51	0.60	2.08	1.84	1.69	1.30	1.47	1.28	0.88
Altman Z-Score	0.45	0.51	0.59	0.68	0.85	1.01	0.52	0.38	0.32	0.49	0.55
Noncontrolling Interest Sharing Ratio	0.01%	0.00%	0.00%	0.00%	0.10%	0.15%	0.12%	0.06%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.02	1.03	1.03	1.03	1.01	1.03	1.01	1.01	1.01	1.02	1.01
Quick Ratio	0.04	0.06	0.06	0.05	0.05	0.06	0.02	0.02	0.02	0.04	0.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,014	1,842	1,872	1,685	-4,424	2,687	7,113	-2,631	2,719	3,030	3,283
Operating Cash Flow to CapEx	972.44%	1,341.94%	1,886.71%	-2,138.10%	2,091.52%	1,088.27%	1,374.99%	2,733.11%	3,406.91%	4,520.68%	3,926.06%
Free Cash Flow to Firm to Interest Expense	8.49	15.69	15.16	14.40	-28.06	15.09	42.80	-15.76	16.71	19.01	20.40
Operating Cash Flow to Interest Expense	10.82	13.05	14.02	-14.97	15.48	15.02	16.34	14.39	18.78	21.67	22.94
Operating Cash Flow Less CapEx to Interest Expense	9.70	12.08	13.28	-15.67	14.74	13.64	15.15	13.87	18.23	21.19	22.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.05	0.05	0.06	0.06	0.05	0.03	0.03	0.04	0.05
Accounts Receivable Turnover	9.67	9.52	9.96	10.07	9.44	9.32	10.25	10.47	10.94	10.95	11.06
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.09	6.65	7.84	8.84	10.16	9.81	8.70	8.65	10.45	12.90	15.41
Accounts Payable Turnover	18.23	20.66	19.79	19.61	10.72	10.10	13.06	14.17	8.85	7.82	9.97
Days Sales Outstanding (DSO)	37.75	38.35	36.66	36.26	38.66	39.18	35.62	34.86	33.37	33.33	33.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	20.02	17.67	18.44	18.61	34.05	36.13	27.96	25.75	41.24	46.69	36.59
Cash Conversion Cycle (CCC)	17.73	20.67	18.22	17.65	4.61	3.05	7.66	9.11	-7.88	-13.37	-3.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	21,591	21,016	20,620	22,651	28,919	28,268	23,196	27,895	27,501	27,140	26,909
Invested Capital Turnover	0.14	0.16	0.17	0.17	0.17	0.17	0.19	0.18	0.18	0.20	0.23
Increase / (Decrease) in Invested Capital	111	-575	-396	2,031	6,268	-651	-5,072	4,699	-394	-361	-230
Enterprise Value (EV)	21,332	22,802	30,296	40,075	55,724	62,933	58,779	74,425	55,743	72,839	84,109
Market Capitalization	20,665	22,338	30,016	39,836	52,724	60,794	57,037	73,930	55,121	72,438	83,687
Book Value per Share	$62.12	$60.76	$59.94	$65.86	$76.05	$72.91	$73.32	$76.24	$74.72	$74.27	$73.50
Tangible Book Value per Share	($19.17)	($19.90)	($20.17)	($13.75)	($22.19)	($19.27)	($4.61)	($10.67)	($11.26)	($11.06)	($11.09)
Total Capital	23,031	22,781	22,572	24,645	30,366	29,903	29,795	30,844	30,317	30,163	29,915
Total Debt	2,108	2,229	2,231	2,233	4,401	3,743	3,444	3,445	3,438	3,425	3,428
Total Long-Term Debt	2,108	2,229	2,231	2,233	3,827	3,743	3,444	2,696	3,422	3,425	2,678
Net Debt	667	464	279	239	2,954	2,109	1,710	495	622	402	422
Capital Expenditures (CapEx)	133	114	92	82	117	246	198	88	90	76	94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-427	-685	-866	-760	-259	-589	-648	-837	-1,409	-1,550	-1,536
Debt-free Net Working Capital (DFNWC)	1,014	1,080	1,086	1,234	1,188	1,045	1,086	2,113	1,407	1,473	1,469
Net Working Capital (NWC)	1,014	1,080	1,086	1,234	614	1,045	1,086	1,363	1,391	1,473	720
Net Nonoperating Expense (NNE)	-1.91	20	-58	-347	-119	-2,196	-66	-569	-366	-558	-474
Net Nonoperating Obligations (NNO)	667	464	279	239	2,954	2,109	-3,156	495	622	402	422
Total Depreciation and Amortization (D&A)	233	229	225	209	249	473	464	385	363	353	337
Debt-free, Cash-free Net Working Capital to Revenue	-13.71%	-20.59%	-24.09%	-20.85%	-6.01%	-12.11%	-13.27%	-17.85%	-28.08%	-27.79%	-25.06%
Debt-free Net Working Capital to Revenue	32.58%	32.46%	30.20%	33.85%	27.57%	21.47%	22.24%	45.05%	28.03%	26.41%	23.97%
Net Working Capital to Revenue	32.58%	32.46%	30.20%	33.85%	14.25%	21.47%	22.24%	29.07%	27.71%	26.41%	11.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.37	$3.71	$4.55	$12.00	$5.73	$5.93	$5.88	$7.30	$7.41	$8.87	$9.69
Adjusted Weighted Average Basic Shares Outstanding	334.41M	336.22M	337.50M	338.71M	342.34M	357.16M	357.76M	358.34M	358.71M	359.02M	359.39M
Adjusted Diluted Earnings per Share	$3.35	$3.69	$4.53	$11.94	$5.71	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67
Adjusted Weighted Average Diluted Shares Outstanding	336.06M	337.89M	338.97M	340.23M	343.74M	358.24M	358.52M	358.93M	359.18M	359.50M	359.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	337.34M	338.42M	339.65M	340.39M	357.80M	358.41M	359.01M	359.40M	359.72M	359.99M	360.36M
Normalized Net Operating Profit after Tax (NOPAT)	1,125	1,267	1,476	1,617	1,843	2,036	2,041	2,068	2,325	2,669	3,052
Normalized NOPAT Margin	36.14%	38.09%	41.05%	44.38%	42.78%	41.82%	41.79%	44.09%	46.33%	47.83%	49.79%
Pre Tax Income Margin	56.91%	58.82%	63.63%	69.31%	64.46%	55.25%	55.74%	71.94%	69.54%	74.45%	74.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.83	16.56	17.48	16.94	12.92	11.53	15.13	17.90	7.09	-7.90	1.69
NOPAT to Interest Expense	9.42	10.80	11.95	31.76	11.69	11.44	12.28	12.39	14.29	16.74	18.97
EBIT Less CapEx to Interest Expense	13.71	15.59	16.74	16.24	12.18	10.15	13.94	17.38	6.54	-8.38	1.11
NOPAT Less CapEx to Interest Expense	8.31	9.82	11.21	31.06	10.95	10.06	11.09	11.86	13.74	16.26	18.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	132.82%	107.73%	116.50%	49.06%	109.57%	40.08%	100.17%	83.03%	97.86%	100.29%	101.66%
Augmented Payout Ratio	132.82%	107.73%	116.50%	49.06%	109.57%	40.08%	100.17%	83.03%	97.86%	100.29%	101.66%

This table displays calculated financial ratios and metrics derived from CME Group's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.27%	7.05%	9.94%	8.96%	19.17%	3.21%	12.67%	18.43%	5.98%	10.38%	10.41%
EBITDA Growth	-132.28%	-116.63%	-179.90%	-199.76%	95.47%	153.26%	129.73%	176.12%	1,749.57%	384.52%	-207.98%
EBIT Growth	-149.44%	-129.43%	-210.20%	-312.68%	71.92%	97.83%	110.86%	131.07%	211.84%	5,976.92%	-481.63%
NOPAT Growth	4.29%	4.71%	11.95%	10.69%	35.64%	5.60%	19.31%	25.78%	8.07%	15.47%	13.68%
Net Income Growth	2.03%	24.30%	17.37%	10.39%	27.70%	-3.24%	13.58%	21.67%	7.37%	11.81%	16.07%
EPS Growth	4.14%	24.62%	17.58%	10.16%	26.70%	-3.29%	13.08%	21.36%	7.62%	11.49%	16.12%
Operating Cash Flow Growth	46.87%	12.93%	5.31%	30.24%	6.40%	-1.07%	19.45%	17.08%	-2.53%	25.08%	36.25%
Free Cash Flow Firm Growth	121.62%	-199.99%	-90.72%	127.78%	16.68%	129.94%	134.34%	-18.17%	-7.05%	8.54%	10.50%
Invested Capital Growth	-1.41%	14.08%	12.17%	-1.00%	-1.31%	-0.45%	-0.36%	0.13%	-0.85%	-0.31%	-0.31%
Revenue Q/Q Growth	-1.63%	19.36%	-5.65%	-1.65%	7.59%	3.38%	3.00%	3.39%	-3.73%	7.67%	3.03%
EBITDA Q/Q Growth	-204.32%	41.80%	-230.72%	50.32%	95.27%	784.62%	84.64%	27.18%	2.61%	101.09%	-141.15%
EBIT Q/Q Growth	-321.31%	31.49%	-145.38%	42.83%	70.78%	94.69%	1,325.00%	63.58%	5.18%	178.83%	-179.55%
NOPAT Q/Q Growth	-9.68%	35.46%	-8.09%	-1.56%	10.68%	5.45%	3.85%	3.78%	-4.91%	12.68%	2.24%
Net Income Q/Q Growth	-6.14%	38.55%	-12.02%	-3.52%	8.58%	4.98%	3.27%	3.35%	-4.18%	9.33%	7.21%
EPS Q/Q Growth	-5.88%	38.07%	-11.93%	-3.74%	8.25%	5.38%	2.98%	3.31%	-4.00%	9.17%	7.25%
Operating Cash Flow Q/Q Growth	49.21%	-8.06%	-27.93%	31.72%	21.90%	-14.52%	-12.97%	29.10%	1.49%	9.70%	-5.20%
Free Cash Flow Firm Q/Q Growth	127.29%	-419.12%	12.71%	136.55%	14.60%	-18.11%	0.12%	-12.91%	30.18%	-4.38%	1.92%
Invested Capital Q/Q Growth	-6.67%	6.01%	0.35%	-0.28%	-6.97%	6.94%	0.44%	0.20%	-7.87%	7.51%	0.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	84.02%	85.81%	84.88%	84.64%	85.21%	86.16%	86.64%	86.19%	85.52%	87.41%	86.90%
EBITDA Margin	-21.39%	-10.43%	-36.57%	-18.47%	-0.81%	5.38%	9.65%	11.87%	12.65%	23.63%	-9.44%
Operating Margin	55.33%	63.38%	61.65%	61.31%	59.97%	64.49%	65.29%	64.64%	62.09%	67.47%	66.74%
EBIT Margin	-28.90%	-16.59%	-43.13%	-25.07%	-6.81%	-0.35%	4.16%	6.58%	7.19%	18.61%	-14.37%
Profit (Net Income) Margin	52.82%	61.31%	57.17%	56.08%	56.60%	57.48%	57.63%	57.61%	57.34%	58.22%	60.59%
Tax Burden Percent	77.11%	76.39%	76.51%	77.00%	80.97%	76.81%	76.50%	77.56%	79.76%	76.82%	77.06%
Interest Burden Percent	-237.05%	-483.86%	-173.24%	-290.49%	-1,026.53%	-21,411.54%	1,812.40%	1,129.46%	1,000.55%	407.33%	-547.22%
Effective Tax Rate	22.89%	23.61%	23.49%	23.00%	19.03%	23.19%	23.50%	22.44%	20.24%	23.18%	22.94%
Return on Invested Capital (ROIC)	7.73%	9.05%	8.93%	8.61%	9.92%	9.58%	9.92%	10.38%	11.23%	11.24%	11.39%
ROIC Less NNEP Spread (ROIC-NNEP)	29.67%	-81.09%	-47.40%	19.23%	32.50%	16.08%	17.89%	22.15%	40.17%	16.82%	22.31%
Return on Net Nonoperating Assets (RNNOA)	0.61%	0.61%	0.41%	0.76%	0.62%	1.07%	0.95%	0.79%	0.62%	1.17%	1.14%
Return on Equity (ROE)	8.34%	9.66%	9.34%	9.37%	10.54%	10.65%	10.87%	11.17%	11.86%	12.41%	12.53%
Cash Return on Invested Capital (CROIC)	9.82%	-4.54%	-2.70%	9.48%	11.09%	9.76%	10.06%	10.14%	12.15%	11.24%	11.55%
Operating Return on Assets (OROA)	-0.78%	-0.46%	-1.38%	-0.88%	-0.25%	-0.01%	0.18%	0.30%	0.33%	0.81%	-0.61%
Return on Assets (ROA)	1.43%	1.69%	1.83%	1.97%	2.08%	2.17%	2.43%	2.64%	2.63%	2.52%	2.57%
Return on Common Equity (ROCE)	8.34%	9.66%	9.34%	9.37%	10.54%	10.65%	10.87%	11.17%	11.86%	12.41%	12.53%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.46%	10.71%	10.83%	0.00%	11.78%	11.95%	12.28%	0.00%	13.42%	13.59%
Net Operating Profit after Tax (NOPAT)	515	698	642	632	699	737	765	794	755	851	870
NOPAT Margin	42.66%	48.42%	47.17%	47.21%	48.56%	49.54%	49.95%	50.14%	49.52%	51.82%	51.43%
Net Nonoperating Expense Percent (NNEP)	-21.94%	90.15%	56.33%	-10.62%	-22.58%	-6.50%	-7.98%	-11.76%	-28.94%	-5.58%	-10.92%
Return On Investment Capital (ROIC_SIMPLE)	1.70%	-	-	-	2.32%	-	-	-	2.53%	2.80%	2.79%
Cost of Revenue to Revenue	15.98%	14.19%	15.12%	15.36%	14.79%	13.85%	13.36%	13.81%	14.48%	12.59%	13.10%
SG&A Expenses to Revenue	11.05%	6.85%	6.99%	6.63%	9.59%	6.03%	6.07%	5.89%	8.15%	5.04%	5.35%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	28.69%	22.43%	23.22%	23.33%	25.23%	21.66%	21.35%	21.55%	23.43%	19.95%	20.16%
Earnings before Interest and Taxes (EBIT)	-349	-239	-587	-335	-98	-5.20	64	104	110	306	-243
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-258	-150	-497	-247	-12	80	148	188	193	388	-160
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.05	2.39	2.29	2.44	2.71	2.84	2.56	2.82	3.16	3.54	3.58
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	10.98	12.78	12.15	12.86	12.98	13.70	12.21	13.15	13.65	15.21	15.41
Price to Earnings (P/E)	20.74	23.10	21.61	22.81	22.74	24.41	21.70	23.20	24.04	26.69	26.67
Dividend Yield	5.55%	4.73%	4.92%	4.60%	4.80%	4.53%	4.96%	4.44%	4.48%	3.96%	3.85%
Earnings Yield	4.82%	4.33%	4.63%	4.38%	4.40%	4.10%	4.61%	4.31%	4.16%	3.75%	3.75%
Enterprise Value to Invested Capital (EV/IC)	2.03	2.30	2.22	2.39	2.68	2.72	2.48	2.75	3.13	3.37	3.46
Enterprise Value to Revenue (EV/Rev)	11.11	13.13	12.43	13.05	13.06	14.03	12.47	13.31	13.72	15.51	15.62
Enterprise Value to EBITDA (EV/EBITDA)	36.77	145.54	0.00	0.00	0.00	0.00	0.00	198.93	138.09	106.31	165.13
Enterprise Value to EBIT (EV/EBIT)	48.33	658.34	0.00	0.00	0.00	0.00	0.00	1,243.41	308.88	167.21	364.26
Enterprise Value to NOPAT (EV/NOPAT)	23.97	28.49	26.83	28.08	27.30	29.14	25.52	26.85	27.56	30.79	30.77
Enterprise Value to Operating Cash Flow (EV/OCF)	18.24	21.25	20.39	20.59	21.09	22.92	20.25	21.64	22.79	24.91	23.99
Enterprise Value to Free Cash Flow (EV/FCFF)	20.50	0.00	0.00	25.11	24.04	27.79	24.62	27.19	25.62	29.93	29.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.13	0.13	0.12	0.12	0.13	0.13	0.12	0.12	0.13	0.13	0.12
Long-Term Debt to Equity	0.13	0.13	0.12	0.12	0.13	0.10	0.10	0.09	0.10	0.13	0.12
Financial Leverage	0.02	-0.01	-0.01	0.04	0.02	0.07	0.05	0.04	0.02	0.07	0.05
Leverage Ratio	6.83	6.75	5.88	5.39	5.67	5.47	4.95	4.67	5.02	5.35	5.48
Compound Leverage Factor	-16.20	-32.65	-10.18	-15.66	-58.18	-1,170.30	89.77	52.78	50.22	21.79	-29.97
Debt to Total Capital	11.34%	11.16%	10.96%	10.85%	11.36%	11.20%	11.03%	10.83%	11.46%	11.23%	10.98%
Short-Term Debt to Total Capital	0.05%	0.05%	0.00%	0.00%	0.00%	2.45%	2.41%	2.37%	2.51%	0.00%	0.00%
Long-Term Debt to Total Capital	11.29%	11.11%	10.96%	10.85%	11.36%	8.75%	8.62%	8.46%	8.95%	11.23%	10.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	88.66%	88.84%	89.04%	89.15%	88.64%	88.80%	88.97%	89.17%	88.54%	88.77%	89.02%
Debt to EBITDA	2.27	7.45	-5.20	-2.97	-3.78	-5.07	-111.26	8.48	5.63	3.73	5.61
Net Debt to EBITDA	0.41	3.83	-2.18	-0.88	-0.44	-2.76	-49.19	2.46	0.69	2.07	2.17
Long-Term Debt to EBITDA	2.26	7.42	-5.20	-2.97	-3.78	-3.96	-86.92	6.62	4.40	3.73	5.61
Debt to NOPAT	1.48	1.46	1.41	1.38	1.28	1.26	1.21	1.14	1.12	1.08	1.05
Net Debt to NOPAT	0.27	0.75	0.59	0.41	0.15	0.69	0.53	0.33	0.14	0.60	0.40
Long-Term Debt to NOPAT	1.47	1.45	1.41	1.38	1.28	0.99	0.95	0.89	0.88	1.08	1.05
Altman Z-Score	0.29	0.37	0.40	0.55	0.52	0.55	0.57	0.56	0.55	0.54	0.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.01	1.02	1.02	1.03	1.02	1.01	1.02	1.02	1.01	1.02	1.02
Quick Ratio	0.02	0.02	0.02	0.03	0.04	0.02	0.03	0.03	0.04	0.02	0.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	909	-2,900	-2,532	925	1,060	868	869	757	986	943	961
Operating Cash Flow to CapEx	4,022.54%	5,936.84%	3,172.68%	4,305.03%	5,020.67%	4,508.59%	4,268.68%	3,365.77%	3,885.11%	7,863.38%	5,752.72%
Free Cash Flow to Firm to Interest Expense	22.78	-72.69	-62.97	23.36	26.71	21.76	21.68	18.84	24.22	22.60	21.83
Operating Cash Flow to Interest Expense	24.60	22.62	16.18	21.63	26.30	22.37	19.37	24.95	25.01	26.78	24.06
Operating Cash Flow Less CapEx to Interest Expense	23.99	22.24	15.67	21.13	25.78	21.88	18.92	24.21	24.37	26.44	23.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.05	0.05	0.04	0.04
Accounts Receivable Turnover	10.94	7.68	8.86	9.39	10.95	8.32	9.67	10.18	11.06	8.99	10.17
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.45	10.95	11.49	12.11	12.90	13.45	14.23	15.04	15.41	16.38	17.24
Accounts Payable Turnover	8.85	8.68	12.03	10.87	7.82	7.97	11.00	9.17	9.97	8.06	9.03
Days Sales Outstanding (DSO)	33.37	47.55	41.18	38.86	33.33	43.86	37.74	35.87	33.01	40.61	35.89
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	41.24	42.06	30.34	33.58	46.69	45.77	33.19	39.80	36.59	45.29	40.42
Cash Conversion Cycle (CCC)	-7.88	5.49	10.84	5.28	-13.37	-1.92	4.55	-3.93	-3.59	-4.68	-4.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	27,501	29,154	29,255	29,172	27,140	29,022	29,151	29,209	26,909	28,931	29,061
Invested Capital Turnover	0.18	0.19	0.19	0.18	0.20	0.19	0.20	0.21	0.23	0.22	0.22
Increase / (Decrease) in Invested Capital	-394	3,598	3,173	-294	-361	-131	-104	37	-230	-91	-90
Enterprise Value (EV)	55,743	67,151	65,075	69,805	72,839	78,929	72,304	80,448	84,109	97,499	100,644
Market Capitalization	55,121	65,382	63,638	68,784	72,438	77,061	70,789	79,455	83,687	95,599	99,322
Book Value per Share	$74.72	$76.13	$77.33	$78.25	$74.27	$75.58	$76.75	$78.36	$73.50	$75.01	$76.98
Tangible Book Value per Share	($11.26)	($9.73)	($8.36)	($7.22)	($11.06)	($9.74)	($8.22)	($6.57)	($11.09)	($9.48)	($7.46)
Total Capital	30,317	30,824	31,242	31,576	30,163	30,580	31,063	31,644	29,915	30,450	31,159
Total Debt	3,438	3,439	3,424	3,425	3,425	3,426	3,427	3,427	3,428	3,419	3,420
Total Long-Term Debt	3,422	3,423	3,424	3,425	3,425	2,677	2,677	2,678	2,678	3,419	3,420
Net Debt	622	1,769	1,437	1,020	402	1,868	1,515	993	422	1,900	1,322
Capital Expenditures (CapEx)	24	15	21	20	21	20	18	30	26	14	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,409	334	494	492	-1,550	398	613	636	-1,536	506	556
Debt-free Net Working Capital (DFNWC)	1,407	2,004	2,480	2,896	1,473	1,956	2,524	3,071	1,469	2,025	2,655
Net Working Capital (NWC)	1,391	1,988	2,480	2,896	1,473	1,206	1,775	2,321	720	2,025	2,655
Net Nonoperating Expense (NNE)	-123	-186	-136	-119	-116	-118	-118	-118	-119	-105	-155
Net Nonoperating Obligations (NNO)	622	1,769	1,437	1,020	402	1,868	1,515	993	422	1,900	1,322
Total Depreciation and Amortization (D&A)	91	89	89	88	86	85	84	84	83	83	83
Debt-free, Cash-free Net Working Capital to Revenue	-28.08%	6.53%	9.42%	9.20%	-27.79%	7.07%	10.56%	10.53%	-25.06%	8.05%	8.63%
Debt-free Net Working Capital to Revenue	28.03%	39.19%	47.36%	54.16%	26.41%	34.77%	43.54%	50.80%	23.97%	32.23%	41.21%
Net Working Capital to Revenue	27.71%	38.87%	47.36%	54.16%	26.41%	21.44%	30.61%	38.40%	11.74%	32.23%	41.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.76	$2.43	$2.14	$2.06	$2.24	$2.35	$2.43	$2.51	$2.40	$2.63	$2.81
Adjusted Weighted Average Basic Shares Outstanding	358.71M	358.93M	358.94M	359.02M	359.02M	359.26M	359.33M	359.40M	359.39M	359.61M	359.66M
Adjusted Diluted Earnings per Share	$1.76	$2.43	$2.14	$2.06	$2.23	$2.35	$2.42	$2.50	$2.40	$2.62	$2.81
Adjusted Weighted Average Diluted Shares Outstanding	359.18M	359.31M	359.43M	359.62M	359.50M	359.83M	359.87M	359.99M	359.94M	360.23M	360.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	359.72M	359.72M	719.50M	719.99M	359.99M	720.13M	720.19M	360.36M	360.36M	360.36M	360.38M
Normalized Net Operating Profit after Tax (NOPAT)	515	698	642	632	699	737	765	794	755	851	870
Normalized NOPAT Margin	42.66%	48.42%	47.17%	47.21%	48.56%	49.54%	49.95%	50.14%	49.52%	51.82%	51.43%
Pre Tax Income Margin	68.50%	80.25%	74.72%	72.83%	69.90%	74.83%	75.33%	74.28%	71.89%	75.80%	78.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.75	-5.99	-14.59	-8.47	-2.47	-0.13	1.59	2.59	2.69	7.33	-5.53
NOPAT to Interest Expense	12.91	17.49	15.96	15.95	17.61	18.47	19.09	19.76	18.56	20.41	19.78
EBIT Less CapEx to Interest Expense	-9.36	-6.37	-15.10	-8.97	-2.99	-0.63	1.13	1.85	2.05	6.99	-5.94
NOPAT Less CapEx to Interest Expense	12.30	17.11	15.45	15.45	17.08	17.98	18.64	19.02	17.92	20.07	19.36
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	97.86%	109.14%	106.15%	104.90%	100.29%	110.34%	107.38%	102.88%	101.66%	105.42%	102.42%
Augmented Payout Ratio	97.86%	109.14%	106.15%	104.90%	100.29%	110.34%	107.38%	102.88%	101.66%	105.42%	102.42%

Key Financial Trends

Financial Performance and Profitability:

CME Group has shown consistent growth in quarterly net income, with Q2 2025 net income at $1.03 billion, up from $883 million in Q2 2024 and $778 million in Q2 2023, indicating solid earnings growth year-over-year.
Operating revenue increased to $1.69 billion in Q2 2025, compared to $1.53 billion in Q2 2024 and $1.36 billion in Q2 2023, showing strong top-line growth.
Gross profit margins remain high; total gross profit was $1.47 billion for Q2 2025, reflecting efficient cost management despite rising total operating expenses.
Earnings per share (diluted) rose from $2.14 in Q2 2024 to $2.81 in Q2 2025, benefiting from stable share count and increasing net income.

Expense and Income Analysis:

Selling, general, and administrative (SG&A) expenses increased from $93 million in Q2 2024 to $90.6 million in Q2 2025, but other operating expenses grew significantly to $167 million in Q2 2025, pressuring operating income growth.
Interest expense remains relatively stable around $40 million per quarter, while interest and investment income saw a large increase in Q2 2025 ($1.6 billion), significantly enhancing other income.
Other income/(expense), net, fluctuated negatively impacting total other income but was offset by strong interest and investment income, resulting in $201 million total other income in Q2 2025.

Cash Flows and Liquidity:

Net cash from continuing operating activities has increased to approx. $1.06 billion in Q2 2025, up notably from $777 million in Q2 2024 and $650 million in Q2 2023, demonstrating strong cash generation.
Net cash used in investing activities was $18 million in Q2 2025, increased from $5 million inflow in Q2 2024, mainly driven by higher capital expenditures and investments.
Net cash provided by financing activities surged to almost $21 billion in Q2 2025, compared to negative $9.2 billion in Q2 2024, driven by significant other financing activities.
Cash and equivalents rose to approximately $1.98 billion in Q2 2025 from $1.79 billion in Q2 2024, supporting liquidity position.

Balance Sheet and Financial Position:

Total assets grew substantially from $123.4 billion in Q2 2024 to nearly $180 billion in Q2 2025, supported by an increase in current assets, including cash, investments, and accounts receivable.
Total liabilities increased from $95.7 billion in Q2 2024 to $152.2 billion in Q2 2025, largely reflecting changes in current liabilities.
Equity increased moderately from $27.6 billion in Q2 2024 to $27.7 billion in Q2 2025, showing stable shareholder value despite rising liabilities.

Summary:

CME Group has demonstrated consistent revenue and net income growth over the recent quarters, with healthy operating margins and increasing earnings per share. Strong operating cash flow generation enhances financial stability, although investing activities have used more cash recently due to higher capital expenditures. Financing activities notably contributed significant cash inflows in the latest quarter, requiring further review to understand the drivers. The balance sheet reflects a substantial increase in total assets and liabilities, indicating expansion but also increasing leverage. Overall, the financial trends are positive with some areas requiring monitoring, particularly cash flow sources and liability management.

08/27/25 04:33 AMAI Generated. May Contain Errors.

Frequently Asked Questions About CME Group's Financials

When does CME Group's financial year end?

According to the most recent income statement we have on file, CME Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has CME Group's net income changed over the last 10 years?

CME Group's net income appears to be on an upward trend, with a most recent value of $3.53 billion in 2024, rising from $1.13 billion in 2014. The previous period was $3.23 billion in 2023. See where experts think CME Group is headed by visiting CME Group's forecast page.

What is CME Group's operating income?

CME Group's total operating income in 2024 was $3.93 billion, based on the following breakdown:

Total Gross Profit: $5.28 billion
Total Operating Expenses: $1.35 billion

How has CME Group's revenue changed over the last 10 years?

Over the last 10 years, CME Group's total revenue changed from $3.11 billion in 2014 to $6.13 billion in 2024, a change of 97.0%.

How much debt does CME Group have?

CME Group's total liabilities were at $110.96 billion at the end of 2024, a 7.8% increase from 2023, and a 116.2% increase since 2014.

How much cash does CME Group have?

In the past 10 years, CME Group's cash and equivalents has ranged from $1.37 billion in 2014 to $2.91 billion in 2023, and is currently $2.89 billion as of their latest financial filing in 2024.

How has CME Group's book value per share changed over the last 10 years?

Over the last 10 years, CME Group's book value per share changed from 62.12 in 2014 to 73.50 in 2024, a change of 18.3%.

Related Companies

This page (NASDAQ:CME) was last updated on 8/27/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

CME Group (CME) Financials

Key Financial Trends

Frequently Asked Questions About CME Group's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

CME Group (CME) Financials

Annual Income Statements for CME Group

Quarterly Income Statements for CME Group

Annual Cash Flow Statements for CME Group

Quarterly Cash Flow Statements for CME Group

Annual Balance Sheets for CME Group

Quarterly Balance Sheets for CME Group

Annual Metrics And Ratios for CME Group

Quarterly Metrics And Ratios for CME Group

Key Financial Trends

Frequently Asked Questions About CME Group's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools