CME Group (CME) Financials

$282.58 +1.33 (+0.47%)

Closing price 04:00 PM Eastern

Extended Trading

$284.40 +1.82 (+0.64%)

As of 05:35 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1,247	1,534	4,063	1,961	4,233	2,105	2,617	2,657	3,186	3,482	4,021
Consolidated Net Income / (Loss)	1,247	1,534	4,063	1,962	4,232	2,106	2,637	2,691	3,226	3,526	4,072
Net Income / (Loss) Continuing Operations	1,247	1,534	4,063	1,964	4,232	2,106	2,637	2,691	3,226	3,526	4,072
Total Pre-Tax Income	1,957	2,288	2,526	2,778	2,690	2,722	3,374	3,490	4,154	4,541	5,331
Total Operating Income	1,989	2,201	2,311	2,608	2,588	2,637	2,645	3,016	3,436	3,932	4,230
Total Gross Profit	2,649	3,052	3,081	3,520	3,969	4,027	3,853	4,266	4,750	5,280	5,614
Total Revenue	3,327	3,595	3,645	4,309	4,868	4,884	4,690	5,019	5,579	6,130	6,521
Operating Revenue	3,269	3,595	3,645	4,309	4,868	4,884	4,690	5,019	5,579	6,130	6,521
Total Cost of Revenue	678	543	564	789	899	857	837	753	829	850	907
Operating Cost of Revenue	678	543	564	789	899	857	837	753	829	850	907
Total Operating Expenses	661	852	770	912	1,382	1,390	1,208	1,250	1,315	1,348	1,384
Selling, General & Admin Expense	247	393	314	493	535	482	393	379	421	400	399
Depreciation Expense	129	129	113	119	159	153	148	135	126	115	108
Amortization Expense	99	96	96	130	315	311	238	228	227	222	223
Other Operating Expenses / (Income)	185	233	248	171	374	443	430	509	542	611	654
Total Other Income / (Expense), net	-32	87	216	170	102	85	728	474	718	610	1,101
Interest Expense	117	124	117	158	178	166	167	163	159	161	173
Interest & Investment Income	130	252	661	898	815	373	553	2,500	5,572	4,430	6,108
Other Income / (Expense), net	-45	-41	-328	-570	-535	-122	343	-1,862	-4,695	-3,659	-4,834
Income Tax Expense	710	754	-1,537	814	574	616	737	799	927	1,016	1,258
Basic Earnings per Share	$3.71	$4.55	$12.00	$5.73	$5.93	$5.88	$7.30	$7.41	$8.87	$9.69	$11.18
Weighted Average Basic Shares Outstanding	336.22M	337.50M	338.71M	342.34M	357.16M	357.76M	358.34M	358.71M	359.02M	359.39M	359.65M
Diluted Earnings per Share	$3.69	$4.53	$11.94	$5.71	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67	$11.16
Weighted Average Diluted Shares Outstanding	337.89M	338.97M	340.23M	343.74M	358.24M	358.52M	358.93M	359.18M	359.50M	359.94M	360.31M
Weighted Average Basic & Diluted Shares Outstanding	338.42M	339.65M	340.39M	342.34M	357.16M	359.01M	359.40M	359.72M	359.99M	360.36M	358.63M
Cash Dividends to Common per Share	$4.90	$5.65	$6.14	$4.55	$5.50	$5.90	$6.85	-	$9.65	$10.40	$5.00

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	750	774	855	883	913	830	956	1,025	908	1,132	1,154
Consolidated Net Income / (Loss)	750	815	855	883	913	875	956	1,025	908	1,183	1,154
Net Income / (Loss) Continuing Operations	750	815	855	883	913	875	956	1,025	908	1,183	1,154
Total Pre-Tax Income	974	1,006	1,113	1,155	1,177	1,097	1,245	1,330	1,177	1,578	1,511
Total Operating Income	820	863	960	1,001	1,024	947	1,108	1,129	973	1,020	1,310
Total Gross Profit	1,132	1,226	1,282	1,328	1,366	1,305	1,436	1,470	1,300	1,408	1,657
Total Revenue	1,338	1,439	1,488	1,533	1,584	1,525	1,642	1,692	1,538	1,649	1,880
Operating Revenue	1,338	1,439	1,488	1,533	1,584	1,525	1,642	1,692	1,538	1,649	1,880
Total Cost of Revenue	206	213	206	205	219	221	207	222	238	241	223
Operating Cost of Revenue	206	213	206	205	219	221	207	222	238	241	223
Total Operating Expenses	312	363	322	327	341	357	328	341	327	388	347
Selling, General & Admin Expense	89	138	90	93	93	124	83	91	92	134	81
Depreciation Expense	31	31	30	29	28	28	27	27	26	27	27
Amortization Expense	57	56	55	56	56	55	55	56	56	56	56
Other Operating Expenses / (Income)	135	139	147	150	164	150	162	167	153	172	183
Total Other Income / (Expense), net	154	143	154	154	153	150	137	201	204	559	201
Interest Expense	40	40	40	40	40	41	42	44	44	44	44
Interest & Investment Income	1,349	1,144	1,159	1,131	1,113	1,028	981	1,617	1,645	1,865	1,492
Other Income / (Expense), net	-1,156	-961	-965	-937	-920	-838	-802	-1,372	-1,397	-1,262	-1,247
Income Tax Expense	224	191	258	271	264	222	289	305	269	396	357
Basic Earnings per Share	$2.06	$2.24	$2.35	$2.43	$2.51	$2.40	$2.63	$2.81	$2.49	$3.25	$3.25
Weighted Average Basic Shares Outstanding	359.02M	359.02M	359.26M	359.33M	359.40M	359.39M	359.61M	359.66M	359.69M	359.65M	359.32M
Diluted Earnings per Share	$2.06	$2.23	$2.35	$2.42	$2.50	$2.40	$2.62	$2.81	$2.49	$3.24	$3.18
Weighted Average Diluted Shares Outstanding	359.62M	359.50M	359.83M	359.87M	359.99M	359.94M	360.23M	360.36M	360.42M	360.31M	363.21M
Weighted Average Basic & Diluted Shares Outstanding	719.99M	359.99M	720.13M	720.19M	360.36M	360.36M	360.36M	360.38M	360.60M	358.63M	362.36M
Cash Dividends to Common per Share	$1.10	-	$1.15	$1.15	-	-	$1.25	$1.25	-	-	$7.45

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	327	165	-54	-529	-2,199	49,787	72,370	-22,816	-44,865	8,684	62,285
Net Cash From Operating Activities	1,533	1,732	-1,751	2,441	2,673	2,716	2,402	3,056	3,454	3,691	4,277
Net Cash From Continuing Operating Activities	1,524	1,732	1,751	2,441	2,673	2,716	2,402	3,056	3,454	3,691	4,277
Net Income / (Loss) Continuing Operations	1,247	1,534	4,063	1,964	2,116	2,106	2,637	2,691	3,226	3,526	4,072
Consolidated Net Income / (Loss)	1,247	1,534	4,063	1,964	2,116	2,106	2,637	2,691	3,226	3,526	4,072
Depreciation Expense	129	129	113	119	159	153	148	135	126	115	108
Amortization Expense	99	96	96	130	315	311	238	228	227	222	223
Non-Cash Adjustments To Reconcile Net Income	189	43	-2,415	10	104	129	-438	56	-64	83	-220
Changes in Operating Assets and Liabilities, net	-132	-70	-105	226	-21	16	-182	-54	-61	-255	94
Net Cash From Investing Activities	18	54	180	-1,890	-153	-176	58	-490	21	-83	1,499
Net Cash From Continuing Investing Activities	18	54	180	-1,890	-153	-176	58	-490	21	-83	1,499
Purchase of Property, Plant & Equipment	-114	-92	-82	-117	-246	-198	-127	-90	-76	-94	-84
Purchase of Investments	-45	-55	-8.30	-10	-15	-17	-12	-7.50	-6.50	-8.10	-17
Sale and/or Maturity of Investments	177	192	2.50	12	108	39	111	17	104	20	1,599
Net Cash From Financing Activities	-1,224	-1,621	-1,985	-1,080	-4,719	47,247	69,909	-25,382	-48,339	5,077	56,510
Net Cash From Continuing Financing Activities	-1,224	-1,621	-1,985	-1,080	-4,719	47,247	69,909	-25,382	-48,339	5,077	56,510
Repayment of Debt	-671	2.20	40	-437	-624	-2.20	-3.10	-764	-26	-9.20	-759
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	-266
Payment of Dividends	-1,343	-1,787	-1,994	-2,150	-1,696	-2,110	-2,189	-2,634	-3,236	-3,584	-3,933
Issuance of Debt	744	0.00	0.00	387	-	-305	0.00	741	0.00	0.00	741
Other Financing Activities, net	47	165	-31	-65	-2,399	49,663	71,136	-22,725	-45,078	8,670	60,727
Cash Interest Paid	89	85	85	108	146	133	133	133	130	130	136
Cash Income Taxes Paid	717	707	763	577	591	653	755	973	1,072	1,197	1,164

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-25,630	3,612	2,806	-8,451	14,321	8.50	20,312	22,040	7,349	12,585	3,353
Net Cash From Operating Activities	857	1,044	893	777	1,003	1,018	1,117	1,059	968	1,134	1,260
Net Cash From Continuing Operating Activities	857	1,044	893	777	1,003	1,018	1,117	1,059	968	1,134	1,260
Net Income / (Loss) Continuing Operations	750	815	855	883	913	875	956	1,025	908	1,183	1,154
Consolidated Net Income / (Loss)	750	815	855	883	913	875	956	1,025	908	1,183	1,154
Depreciation Expense	31	31	30	29	28	28	27	27	26	27	27
Amortization Expense	57	56	55	56	56	55	55	56	56	56	56
Non-Cash Adjustments To Reconcile Net Income	37	-73	24	-8.50	30	38	11	15	-1.80	-257	34
Changes in Operating Assets and Liabilities, net	-19	216	-72	-182	-23	22	67	-65	-21	126	-11
Net Cash From Investing Activities	-20	-20	-23	-5.00	-30	-25	-16	-18	-19	1,552	-23
Net Cash From Continuing Investing Activities	-20	-20	-23	-5.00	-30	-25	-16	-18	-19	1,552	-23
Purchase of Property, Plant & Equipment	-20	-21	-20	-18	-30	-26	-14	-18	-18	-33	-22
Purchase of Investments	-0.40	-1.10	-4.70	-1.90	-1.30	-0.20	-5.40	-0.80	-2.10	-8.70	-2.30
Sale and/or Maturity of Investments	0.80	1.50	1.70	15	1.60	1.10	3.60	1.20	1.40	1,593	1.10
Net Cash From Financing Activities	-26,467	2,589	1,936	-9,223	13,347	-984	19,211	20,999	6,400	9,899	2,117
Net Cash From Continuing Financing Activities	-26,467	2,589	1,936	-9,223	13,347	-984	19,211	20,999	6,400	9,899	2,117
Repayment of Debt	-	-8.90	-4.30	-0.30	-4.40	-0.20	-754	-0.10	-4.30	0.10	-4.40
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-258	-539
Payment of Dividends	-400	-400	-2,328	-419	-419	-419	-2,567	-455	-455	-455	-2,698
Issuance of Debt	-	-	0.00	-	-	-	742	-	-1.70	-	0.00
Other Financing Activities, net	-26,067	2,998	4,269	-8,804	13,770	-565	21,791	21,463	6,861	10,612	5,357
Cash Interest Paid	41	24	41	24	41	24	41	24	47	24	46
Cash Income Taxes Paid	272	226	115	535	289	259	13	567	276	309	43

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	67,359	69,369	75,791	77,476	75,215	124,660	196,780	174,176	129,706	137,447	198,424
Total Current Assets	37,905	40,032	46,907	41,887	39,568	89,284	161,762	139,078	94,890	103,034	165,359
Cash & Equivalents	1,693	1,869	1,904	1,375	1,551	1,633	2,835	2,720	2,912	2,892	4,417
Short-Term Investments	73	83	90	73	83	101	115	96	112	113	125
Accounts Receivable	358	364	360	553	492	461	435	483	536	573	639
Other Current Assets	35,782	37,715	44,553	39,886	37,441	87,089	158,377	135,779	91,331	99,455	160,178
Plant, Property, & Equipment, net	492	425	400	449	544	579	505	456	410	386	363
Total Noncurrent Assets	28,963	28,913	28,485	35,140	35,104	34,797	34,513	34,642	34,406	34,027	32,702
Goodwill	7,569	7,569	7,569	10,805	10,743	10,799	10,528	10,483	10,495	10,487	10,515
Intangible Assets	19,713	19,617	19,522	22,675	22,293	17,175	20,707	20,445	20,226	19,997	19,786
Other Noncurrent Operating Assets	1,681	1,727	1,394	1,660	2,068	1,957	3,278	3,714	3,686	3,544	2,402
Total Liabilities & Shareholders' Equity	67,359	69,369	75,791	77,476	75,215	124,660	196,780	174,176	129,706	137,447	198,424
Total Liabilities	46,808	49,029	53,379	51,510	49,056	98,308	169,381	147,297	102,968	110,960	169,696
Total Current Liabilities	36,825	38,946	45,673	41,273	38,523	88,198	160,398	137,688	93,417	102,314	160,297
Accounts Payable	29	26	31	116	62	69	49	121	91	80	72
Other Current Liabilities	36,796	38,919	45,642	40,582	38,461	88,129	159,600	137,550	93,326	101,484	160,225
Total Noncurrent Liabilities	9,983	10,083	7,707	10,238	10,534	10,110	8,983	9,610	9,551	8,646	9,399
Long-Term Debt	2,229	2,231	2,233	3,827	3,743	3,444	2,696	3,422	3,425	2,678	3,422
Noncurrent Deferred & Payable Income Tax Liabilities	7,358	7,291	4,858	5,666	5,635	5,607	5,390	5,361	5,328	5,247	5,242
Other Noncurrent Operating Liabilities	396	561	616	745	1,155	1,059	897	826	798	721	735
Total Equity & Noncontrolling Interests	20,552	20,341	22,412	25,965	26,159	26,352	27,399	26,879	26,738	26,487	28,728
Total Preferred & Common Equity	20,552	20,341	22,412	25,919	26,129	26,320	27,399	26,879	26,738	26,487	28,728
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	20,552	20,341	22,412	25,919	26,129	26,320	27,399	26,879	26,738	26,487	28,728
Common Stock	17,725	17,830	17,900	21,058	21,117	21,189	22,194	22,265	22,338	22,407	22,213
Retained Earnings	2,908	2,525	4,497	4,855	5,009	4,996	5,152	4,747	4,455	4,186	6,433
Accumulated Other Comprehensive Income / (Loss)	-81	-14	14	5.30	3.40	135	54	-133	-56	-106	82

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	151,297	125,598	129,706	132,054	123,379	137,795	137,447	157,832	179,907	187,145	201,994
Total Current Assets	116,366	90,777	94,890	97,308	88,749	103,143	103,034	123,445	145,450	152,801	169,001
Cash & Equivalents	1,880	2,300	2,912	1,437	1,790	2,322	2,892	1,405	1,981	2,447	2,391
Short-Term Investments	107	104	112	121	122	112	113	114	118	123	124
Accounts Receivable	599	558	536	628	600	629	573	770	668	643	936
Other Current Assets	113,780	87,814	91,331	95,122	86,238	100,079	99,455	121,156	142,684	149,588	165,550
Plant, Property, & Equipment, net	430	417	410	396	385	386	386	371	363	355	355
Total Noncurrent Assets	34,501	34,404	34,406	34,350	34,246	34,266	34,027	34,015	34,094	33,989	32,637
Goodwill	10,491	10,478	10,495	10,490	10,489	10,514	10,487	10,500	10,524	10,515	10,506
Intangible Assets	20,336	20,271	20,226	20,165	20,108	20,068	19,997	19,949	19,904	19,843	19,726
Other Noncurrent Operating Assets	3,674	3,656	3,686	3,695	3,650	3,685	3,544	3,567	3,666	3,631	2,405
Total Liabilities & Shareholders' Equity	151,297	125,598	129,706	132,054	123,379	137,795	137,447	157,832	179,907	187,145	201,994
Total Liabilities	123,479	97,447	102,968	104,900	95,744	109,579	110,960	130,801	152,168	158,954	175,375
Total Current Liabilities	113,886	87,881	93,417	96,101	86,974	100,822	102,314	121,420	142,795	149,587	165,998
Accounts Payable	51	54	91	111	100	130	80	100	92	75	75
Other Current Liabilities	113,835	87,827	93,326	95,241	86,125	99,942	101,484	121,320	142,703	149,512	165,922
Total Noncurrent Liabilities	9,593	9,566	9,551	8,798	8,770	8,757	8,646	9,381	9,373	9,367	9,378
Long-Term Debt	3,424	3,425	3,425	2,677	2,677	2,678	2,678	3,419	3,420	3,421	3,423
Noncurrent Deferred & Payable Income Tax Liabilities	5,344	5,333	5,328	5,317	5,309	5,310	5,247	5,240	5,233	5,220	5,221
Other Noncurrent Operating Liabilities	826	809	798	804	783	769	721	721	720	726	733
Total Equity & Noncontrolling Interests	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739	28,190	26,618
Total Preferred & Common Equity	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739	28,190	26,618
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	27,818	28,152	26,738	27,154	27,636	28,216	26,487	27,031	27,739	28,190	26,618
Common Stock	22,311	22,313	22,338	22,349	22,376	22,379	22,407	22,420	22,439	22,441	21,674
Retained Earnings	5,607	5,956	4,455	4,891	5,355	5,848	4,186	4,686	5,255	5,706	4,885
Accumulated Other Comprehensive Income / (Loss)	-100	-117	-56	-86	-95	-11	-106	-75	45	43	59

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.89%	8.07%	1.38%	18.24%	12.96%	0.32%	-3.97%	7.03%	11.15%	9.88%	6.37%
EBITDA Growth	8.45%	9.74%	-8.12%	4.35%	10.49%	17.94%	13.22%	-55.05%	-159.80%	167.19%	-144.89%
EBIT Growth	9.82%	11.06%	-8.18%	2.78%	0.75%	22.51%	18.80%	-61.39%	-209.16%	121.62%	-321.92%
NOPAT Growth	12.65%	16.44%	151.85%	-50.40%	10.43%	0.25%	1.31%	12.46%	14.77%	14.38%	5.86%
Net Income Growth	10.66%	23.02%	164.87%	-51.71%	115.66%	-50.22%	25.19%	2.05%	19.89%	9.29%	15.50%
EPS Growth	10.15%	22.76%	163.58%	-52.18%	3.50%	-0.68%	24.19%	1.51%	19.73%	9.14%	15.41%
Operating Cash Flow Growth	18.67%	13.02%	-201.10%	239.39%	9.51%	1.60%	-11.53%	27.21%	13.02%	6.85%	15.89%
Free Cash Flow Firm Growth	81.67%	1.62%	-9.96%	-362.53%	160.73%	164.74%	-136.99%	203.33%	11.45%	8.34%	-22.87%
Invested Capital Growth	-2.66%	-1.88%	9.85%	27.67%	-2.25%	-17.94%	20.26%	-1.41%	-1.31%	-0.85%	2.60%
Revenue Q/Q Growth	-0.81%	2.83%	-0.35%	8.47%	-1.98%	-0.81%	1.05%	1.22%	4.33%	1.42%	1.93%
EBITDA Q/Q Growth	-0.11%	2.58%	-4.49%	4.82%	0.11%	1.00%	5.67%	-41.12%	21.39%	50.62%	-441.75%
EBIT Q/Q Growth	-0.12%	2.78%	-4.66%	3.29%	-1.04%	1.00%	7.44%	-47.77%	16.62%	320.87%	-139.90%
NOPAT Q/Q Growth	-0.98%	3.01%	173.29%	-56.11%	2.77%	-1.03%	4.35%	0.89%	7.33%	1.88%	0.13%
Net Income Q/Q Growth	-1.17%	5.63%	171.33%	-56.55%	108.22%	-50.63%	8.22%	0.47%	5.79%	1.73%	8.19%
EPS Q/Q Growth	-1.07%	5.35%	170.75%	-56.94%	4.05%	-2.17%	7.52%	0.96%	5.60%	1.79%	8.14%
Operating Cash Flow Q/Q Growth	-6.77%	6.67%	-197.81%	319.61%	8.50%	-2.14%	0.33%	11.42%	1.85%	-0.71%	2.79%
Free Cash Flow Firm Q/Q Growth	11.45%	20.59%	-14.64%	-1,358.48%	222.71%	192.67%	-148.32%	270.31%	8.99%	10.94%	-25.42%
Invested Capital Q/Q Growth	-4.95%	-6.24%	5.96%	14.64%	-3.84%	-20.09%	9.11%	-6.67%	-6.97%	-7.87%	-4.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	79.64%	84.89%	84.53%	81.68%	81.54%	82.46%	82.15%	85.00%	85.15%	86.13%	86.09%
EBITDA Margin	65.31%	66.32%	60.11%	53.05%	51.89%	61.01%	71.93%	30.20%	-16.25%	9.94%	-4.19%
Operating Margin	59.78%	61.21%	63.40%	60.51%	53.16%	54.01%	56.40%	60.08%	61.58%	64.13%	64.86%
EBIT Margin	58.44%	60.06%	54.39%	47.28%	42.17%	51.50%	63.71%	22.98%	-22.57%	4.44%	-9.27%
Profit (Net Income) Margin	37.48%	42.67%	111.49%	45.53%	86.93%	43.13%	56.23%	53.61%	57.83%	57.52%	62.45%
Tax Burden Percent	63.73%	67.06%	160.84%	70.64%	157.33%	77.38%	78.16%	77.10%	77.67%	77.64%	76.39%
Interest Burden Percent	100.65%	105.95%	127.44%	136.33%	131.01%	108.23%	112.91%	302.58%	-329.86%	1,667.79%	-882.10%
Effective Tax Rate	36.27%	32.94%	-60.84%	29.31%	21.33%	22.62%	21.84%	22.90%	22.33%	22.36%	23.61%
Return on Invested Capital (ROIC)	5.95%	7.09%	17.18%	7.15%	7.12%	7.93%	8.09%	8.40%	9.77%	11.29%	11.85%
ROIC Less NNEP Spread (ROIC-NNEP)	2.36%	22.80%	150.95%	14.59%	93.88%	-4.59%	-34.71%	73.86%	118.68%	126.21%	-229.43%
Return on Net Nonoperating Assets (RNNOA)	0.06%	0.41%	1.83%	0.96%	9.12%	0.09%	1.72%	1.52%	2.27%	1.95%	2.90%
Return on Equity (ROE)	6.01%	7.50%	19.01%	8.11%	16.24%	8.02%	9.81%	9.92%	12.03%	13.25%	14.75%
Cash Return on Invested Capital (CROIC)	8.65%	8.99%	7.79%	-17.16%	9.40%	27.64%	-10.30%	9.82%	11.09%	12.15%	9.29%
Operating Return on Assets (OROA)	2.79%	3.16%	2.73%	2.66%	2.69%	2.52%	1.86%	0.62%	-0.83%	0.20%	-0.36%
Return on Assets (ROA)	1.79%	2.24%	5.60%	2.56%	5.54%	2.11%	1.64%	1.45%	2.12%	2.64%	2.42%
Return on Common Equity (ROCE)	6.01%	7.50%	19.01%	8.10%	16.21%	8.01%	9.81%	9.92%	12.03%	13.25%	14.75%
Return on Equity Simple (ROE_SIMPLE)	6.07%	7.54%	18.13%	7.57%	16.20%	8.00%	9.62%	10.01%	12.07%	13.31%	0.00%
Net Operating Profit after Tax (NOPAT)	1,267	1,476	3,716	1,843	2,036	2,041	2,068	2,325	2,669	3,052	3,231
NOPAT Margin	38.09%	41.05%	101.97%	42.78%	41.82%	41.79%	44.09%	46.33%	47.83%	49.79%	49.55%
Net Nonoperating Expense Percent (NNEP)	3.59%	-15.71%	-133.77%	-7.44%	-86.76%	12.52%	42.80%	-65.46%	-108.91%	-114.92%	241.28%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	7.67%	8.85%	10.20%	10.05%
Cost of Revenue to Revenue	20.36%	15.11%	15.47%	18.32%	18.46%	17.54%	17.85%	15.00%	14.85%	13.87%	13.91%
SG&A Expenses to Revenue	7.43%	10.93%	8.61%	11.44%	10.98%	9.87%	8.37%	7.55%	7.54%	6.53%	6.12%
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	19.86%	23.68%	21.13%	21.17%	28.38%	28.46%	25.75%	24.91%	23.56%	21.99%	21.23%
Earnings before Interest and Taxes (EBIT)	1,944	2,159	1,982	2,038	2,053	2,515	2,988	1,154	-1,259	272	-604
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,173	2,384	2,191	2,286	2,526	2,979	3,373	1,516	-907	609	-273
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.09	1.48	1.78	2.03	2.33	2.17	2.70	2.05	2.71	3.16	3.43
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)	6.71	8.35	10.93	12.23	12.49	11.68	15.76	10.98	12.98	13.65	15.10
Price to Earnings (P/E)	17.91	19.57	9.80	26.89	14.36	27.09	28.25	20.74	22.74	24.04	24.49
Dividend Yield	7.42%	6.39%	5.25%	2.94%	3.24%	3.71%	3.33%	5.55%	4.80%	4.48%	3.95%
Earnings Yield	5.58%	5.11%	10.20%	3.72%	6.96%	3.69%	3.54%	4.82%	4.40%	4.16%	4.08%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.47	1.77	1.93	2.23	2.53	2.67	2.03	2.68	3.13	3.53
Enterprise Value to Revenue (EV/Rev)	6.85	8.43	11.00	12.93	12.93	12.04	15.87	11.11	13.06	13.72	14.93
Enterprise Value to EBITDA (EV/EBITDA)	10.50	12.71	18.29	24.37	24.91	19.73	22.06	36.77	0.00	138.09	0.00
Enterprise Value to EBIT (EV/EBIT)	11.73	14.03	20.22	27.35	30.66	23.37	24.91	48.33	0.00	308.88	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.99	20.53	10.78	30.23	30.91	28.80	36.00	23.97	27.30	27.56	30.13
Enterprise Value to Operating Cash Flow (EV/OCF)	14.88	17.49	0.00	22.83	23.55	21.64	30.98	18.24	21.09	22.79	22.76
Enterprise Value to Free Cash Flow (EV/FCFF)	12.38	16.19	23.78	0.00	23.42	8.26	0.00	20.50	24.04	25.62	38.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.11	0.11	0.10	0.17	0.14	0.13	0.13	0.13	0.13	0.13	0.12
Long-Term Debt to Equity	0.11	0.11	0.10	0.15	0.14	0.13	0.10	0.13	0.13	0.10	0.12
Financial Leverage	0.03	0.02	0.01	0.07	0.10	-0.02	-0.05	0.02	0.02	0.02	-0.01
Leverage Ratio	3.37	3.34	3.40	3.17	2.93	3.81	5.98	6.83	5.67	5.02	6.08
Compound Leverage Factor	3.39	3.54	4.33	4.32	3.84	4.12	6.75	20.68	-18.70	83.71	-53.66
Debt to Total Capital	9.79%	9.88%	9.06%	14.49%	12.52%	11.56%	11.17%	11.34%	11.36%	11.46%	10.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	1.89%	0.00%	0.00%	2.43%	0.05%	0.00%	2.51%	0.00%
Long-Term Debt to Total Capital	9.79%	9.88%	9.06%	12.60%	12.52%	11.56%	8.74%	11.29%	11.36%	8.95%	10.64%
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%	0.15%	0.10%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.21%	90.12%	90.94%	85.35%	87.38%	88.34%	88.83%	88.66%	88.64%	88.54%	89.36%
Debt to EBITDA	1.03	0.94	1.02	1.92	1.48	1.16	1.02	2.27	-3.78	5.63	-12.52
Net Debt to EBITDA	0.21	0.12	0.11	1.29	0.83	0.57	0.15	0.41	-0.44	0.69	4.10
Long-Term Debt to EBITDA	1.03	0.94	1.02	1.67	1.48	1.16	0.80	2.26	-3.78	4.40	-12.52
Debt to NOPAT	1.76	1.51	0.60	2.39	1.84	1.69	1.67	1.48	1.28	1.12	1.06
Net Debt to NOPAT	0.37	0.19	0.06	1.60	1.04	0.84	0.24	0.27	0.15	0.14	-0.35
Long-Term Debt to NOPAT	1.76	1.51	0.60	2.08	1.84	1.69	1.30	1.47	1.28	0.88	1.06
Altman Z-Score	0.51	0.59	0.68	0.85	1.01	0.52	0.38	0.32	0.49	0.55	0.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.10%	0.15%	0.12%	0.06%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	1.03	1.03	1.01	1.03	1.01	1.01	1.01	1.02	1.01	1.03
Quick Ratio	0.06	0.06	0.05	0.05	0.06	0.02	0.02	0.02	0.04	0.04	0.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,842	1,872	1,685	-4,424	2,687	7,113	-2,631	2,719	3,030	3,283	2,532
Operating Cash Flow to CapEx	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%	5,122.28%
Free Cash Flow to Firm to Interest Expense	15.69	15.16	14.40	-28.06	15.09	42.80	-15.76	16.71	19.01	20.40	14.60
Operating Cash Flow to Interest Expense	13.05	14.02	-14.97	15.48	15.02	16.34	14.39	18.78	21.67	22.94	24.67
Operating Cash Flow Less CapEx to Interest Expense	12.08	13.28	-15.67	14.74	13.64	15.15	13.87	18.23	21.19	22.35	24.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.05	0.06	0.06	0.05	0.03	0.03	0.04	0.05	0.04
Accounts Receivable Turnover	9.52	9.96	10.07	9.44	9.32	10.25	10.47	10.94	10.95	11.06	10.76
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	6.65	7.84	8.84	10.16	9.81	8.70	8.65	10.45	12.90	15.41	17.41
Accounts Payable Turnover	20.66	19.79	19.61	10.72	10.10	13.06	14.17	8.85	7.82	9.97	11.96
Days Sales Outstanding (DSO)	38.35	36.66	36.26	38.66	39.18	35.62	34.86	33.37	33.33	33.01	33.93
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)	17.67	18.44	18.61	34.05	36.13	27.96	25.75	41.24	46.69	36.59	30.52
Cash Conversion Cycle (CCC)	20.67	18.22	17.65	4.61	3.05	7.66	9.11	-7.88	-13.37	-3.59	3.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	21,016	20,620	22,651	28,919	28,268	23,196	27,895	27,501	27,140	26,909	27,609
Invested Capital Turnover	0.16	0.17	0.17	0.17	0.17	0.19	0.18	0.18	0.20	0.23	0.24
Increase / (Decrease) in Invested Capital	-575	-396	2,031	6,268	-651	-5,072	4,699	-394	-361	-230	699
Enterprise Value (EV)	22,802	30,296	40,075	55,724	62,933	58,779	74,425	55,743	72,839	84,109	97,353
Market Capitalization	22,338	30,016	39,836	52,724	60,794	57,037	73,930	55,121	72,438	83,687	98,473
Book Value per Share	$60.76	$59.94	$65.86	$76.05	$72.91	$73.32	$76.24	$74.72	$74.27	$73.50	$79.67
Tangible Book Value per Share	($19.90)	($20.17)	($13.75)	($22.19)	($19.27)	($4.61)	($10.67)	($11.26)	($11.06)	($11.09)	($4.36)
Total Capital	22,781	22,572	24,645	30,366	29,903	29,795	30,844	30,317	30,163	29,915	32,151
Total Debt	2,229	2,231	2,233	4,401	3,743	3,444	3,445	3,438	3,425	3,428	3,422
Total Long-Term Debt	2,229	2,231	2,233	3,827	3,743	3,444	2,696	3,422	3,425	2,678	3,422
Net Debt	464	279	239	2,954	2,109	1,710	495	622	402	422	-1,120
Capital Expenditures (CapEx)	114	92	82	117	246	198	88	90	76	94	84
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-685	-866	-760	-259	-589	-648	-837	-1,409	-1,550	-1,536	521
Debt-free Net Working Capital (DFNWC)	1,080	1,086	1,234	1,188	1,045	1,086	2,113	1,407	1,473	1,469	5,063
Net Working Capital (NWC)	1,080	1,086	1,234	614	1,045	1,086	1,363	1,391	1,473	720	5,063
Net Nonoperating Expense (NNE)	20	-58	-347	-119	-2,196	-66	-569	-366	-558	-474	-841
Net Nonoperating Obligations (NNO)	464	279	239	2,954	2,109	-3,156	495	622	402	422	-1,120
Total Depreciation and Amortization (D&A)	229	225	209	249	473	464	385	363	353	337	331
Debt-free, Cash-free Net Working Capital to Revenue	-20.59%	-24.09%	-20.85%	-6.01%	-12.11%	-13.27%	-17.85%	-28.08%	-27.79%	-25.06%	7.99%
Debt-free Net Working Capital to Revenue	32.46%	30.20%	33.85%	27.57%	21.47%	22.24%	45.05%	28.03%	26.41%	23.97%	77.64%
Net Working Capital to Revenue	32.46%	30.20%	33.85%	14.25%	21.47%	22.24%	29.07%	27.71%	26.41%	11.74%	77.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.71	$4.55	$12.00	$5.73	$5.93	$5.88	$7.30	$7.41	$8.87	$9.69	$11.18
Adjusted Weighted Average Basic Shares Outstanding	336.22M	337.50M	338.71M	342.34M	357.16M	357.76M	358.34M	358.71M	359.02M	359.39M	359.65M
Adjusted Diluted Earnings per Share	$3.69	$4.53	$11.94	$5.71	$5.91	$5.87	$7.29	$7.40	$8.86	$9.67	$11.16
Adjusted Weighted Average Diluted Shares Outstanding	337.89M	338.97M	340.23M	343.74M	358.24M	358.52M	358.93M	359.18M	359.50M	359.94M	360.31M
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	338.42M	339.65M	340.39M	357.80M	358.41M	359.01M	359.40M	359.72M	359.99M	360.36M	358.63M
Normalized Net Operating Profit after Tax (NOPAT)	1,267	1,476	1,617	1,843	2,036	2,041	2,068	2,325	2,669	3,052	3,231
Normalized NOPAT Margin	38.09%	41.05%	44.38%	42.78%	41.82%	41.79%	44.09%	46.33%	47.83%	49.79%	49.55%
Pre Tax Income Margin	58.82%	63.63%	69.31%	64.46%	55.25%	55.74%	71.94%	69.54%	74.45%	74.08%	81.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	16.56	17.48	16.94	12.92	11.53	15.13	17.90	7.09	-7.90	1.69	-3.49
NOPAT to Interest Expense	10.80	11.95	31.76	11.69	11.44	12.28	12.39	14.29	16.74	18.97	18.63
EBIT Less CapEx to Interest Expense	15.59	16.74	16.24	12.18	10.15	13.94	17.38	6.54	-8.38	1.11	-3.97
NOPAT Less CapEx to Interest Expense	9.82	11.21	31.06	10.95	10.06	11.09	11.86	13.74	16.26	18.39	18.15
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	107.73%	116.50%	49.06%	109.57%	40.08%	100.17%	83.03%	97.86%	100.29%	101.66%	96.58%
Augmented Payout Ratio	107.73%	116.50%	49.06%	109.57%	40.08%	100.17%	83.03%	97.86%	100.29%	101.66%	103.12%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	358,625,469.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	358,625,469.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.96%	19.17%	3.21%	12.67%	18.43%	5.98%	10.38%	10.41%	-2.95%	8.09%	14.48%
EBITDA Growth	-199.76%	95.47%	153.26%	129.73%	176.12%	1,749.57%	384.52%	-207.98%	-281.50%	-183.11%	-62.36%
EBIT Growth	-312.68%	71.92%	97.83%	110.86%	131.07%	211.84%	5,976.92%	-481.63%	-506.91%	-321.53%	-79.45%
NOPAT Growth	10.69%	35.64%	5.60%	19.31%	25.78%	8.07%	15.47%	13.68%	-5.55%	1.16%	17.56%
Net Income Growth	10.39%	27.70%	-3.24%	13.58%	21.67%	7.37%	11.81%	16.07%	-0.53%	35.25%	20.72%
EPS Growth	10.16%	26.70%	-3.29%	13.08%	21.36%	7.62%	11.49%	16.12%	-0.40%	35.00%	21.37%
Operating Cash Flow Growth	30.24%	6.40%	-1.07%	19.45%	17.08%	-2.53%	25.08%	36.25%	-3.48%	11.40%	12.83%
Free Cash Flow Firm Growth	127.78%	16.68%	129.94%	134.34%	-18.17%	-7.05%	8.54%	10.50%	21.23%	-93.42%	155.22%
Invested Capital Growth	-1.00%	-1.31%	-0.45%	-0.36%	0.13%	-0.85%	-0.31%	-0.31%	-0.57%	2.60%	-4.86%
Revenue Q/Q Growth	-1.65%	7.59%	3.38%	3.00%	3.39%	-3.73%	7.67%	3.03%	-9.13%	7.23%	14.04%
EBITDA Q/Q Growth	50.32%	95.27%	784.62%	84.64%	27.18%	2.61%	101.09%	-141.15%	-113.78%	53.02%	191.08%
EBIT Q/Q Growth	42.83%	70.78%	94.69%	1,325.00%	63.58%	5.18%	178.83%	-179.55%	-74.41%	42.74%	125.86%
NOPAT Q/Q Growth	-1.56%	10.68%	5.45%	3.85%	3.78%	-4.91%	12.68%	2.24%	-13.78%	1.84%	30.95%
Net Income Q/Q Growth	-3.52%	8.58%	4.98%	3.27%	3.35%	-4.18%	9.33%	7.21%	-11.42%	30.28%	-2.42%
EPS Q/Q Growth	-3.74%	8.25%	5.38%	2.98%	3.31%	-4.00%	9.17%	7.25%	-11.39%	30.12%	-1.85%
Operating Cash Flow Q/Q Growth	31.72%	21.90%	-14.52%	-12.97%	29.10%	1.49%	9.70%	-5.20%	-8.54%	17.13%	11.11%
Free Cash Flow Firm Q/Q Growth	136.55%	14.60%	-18.11%	0.12%	-12.91%	30.18%	-4.38%	1.92%	-4.44%	-92.94%	3,611.10%
Invested Capital Q/Q Growth	-0.28%	-6.97%	6.94%	0.44%	0.20%	-7.87%	7.51%	0.45%	-0.07%	-4.93%	-0.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	84.64%	85.21%	86.16%	86.64%	86.19%	85.52%	87.41%	86.90%	84.55%	85.38%	88.14%
EBITDA Margin	-18.47%	-0.81%	5.38%	9.65%	11.87%	12.65%	23.63%	-9.44%	-22.20%	-9.73%	7.77%
Operating Margin	61.31%	59.97%	64.49%	65.29%	64.64%	62.09%	67.47%	66.74%	63.25%	61.84%	69.66%
EBIT Margin	-25.07%	-6.81%	-0.35%	4.16%	6.58%	7.19%	18.61%	-14.37%	-27.58%	-14.73%	3.34%
Profit (Net Income) Margin	56.08%	56.60%	57.48%	57.63%	57.61%	57.34%	58.22%	60.59%	59.05%	71.75%	61.40%
Tax Burden Percent	77.00%	80.97%	76.81%	76.50%	77.56%	79.76%	76.82%	77.06%	77.15%	74.94%	76.40%
Interest Burden Percent	-290.49%	-1,026.53%	-21,411.54%	1,812.40%	1,129.46%	1,000.55%	407.33%	-547.22%	-277.59%	-650.08%	2,405.89%
Effective Tax Rate	23.00%	19.03%	23.19%	23.50%	22.44%	20.24%	23.18%	22.94%	22.85%	25.06%	23.60%
Return on Invested Capital (ROIC)	8.61%	9.92%	9.58%	9.92%	10.38%	11.23%	11.24%	11.39%	10.72%	11.09%	12.74%
ROIC Less NNEP Spread (ROIC-NNEP)	19.23%	32.50%	16.08%	17.89%	22.15%	40.17%	16.82%	22.31%	27.82%	-109.05%	23.69%
Return on Net Nonoperating Assets (RNNOA)	0.76%	0.62%	1.07%	0.95%	0.79%	0.62%	1.17%	1.14%	0.91%	1.38%	1.24%
Return on Equity (ROE)	9.37%	10.54%	10.65%	10.87%	11.17%	11.86%	12.41%	12.53%	11.63%	12.46%	13.98%
Cash Return on Invested Capital (CROIC)	9.48%	11.09%	9.76%	10.06%	10.14%	12.15%	11.24%	11.55%	11.66%	9.29%	16.95%
Operating Return on Assets (OROA)	-0.88%	-0.25%	-0.01%	0.18%	0.30%	0.33%	0.81%	-0.61%	-1.09%	-0.57%	0.13%
Return on Assets (ROA)	1.97%	2.08%	2.17%	2.43%	2.64%	2.63%	2.52%	2.57%	2.33%	2.79%	2.31%
Return on Common Equity (ROCE)	9.37%	10.54%	10.65%	10.87%	11.17%	11.86%	12.41%	12.53%	11.63%	12.46%	13.98%
Return on Equity Simple (ROE_SIMPLE)	10.83%	0.00%	11.78%	11.95%	12.28%	0.00%	13.42%	13.59%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	632	699	737	765	794	755	851	870	750	764	1,001
NOPAT Margin	47.21%	48.56%	49.54%	49.95%	50.14%	49.52%	51.82%	51.43%	48.80%	46.35%	53.22%
Net Nonoperating Expense Percent (NNEP)	-10.62%	-22.58%	-6.50%	-7.98%	-11.76%	-28.94%	-5.58%	-10.92%	-17.10%	120.13%	-10.95%
Return On Investment Capital (ROIC_SIMPLE)	-	2.32%	-	-	-	2.53%	2.80%	2.79%	2.37%	2.38%	3.33%
Cost of Revenue to Revenue	15.36%	14.79%	13.85%	13.36%	13.81%	14.48%	12.59%	13.10%	15.45%	14.62%	11.86%
SG&A Expenses to Revenue	6.63%	9.59%	6.03%	6.07%	5.89%	8.15%	5.04%	5.35%	5.97%	8.12%	4.29%
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	23.33%	25.23%	21.66%	21.35%	21.55%	23.43%	19.95%	20.16%	21.29%	23.53%	18.48%
Earnings before Interest and Taxes (EBIT)	-335	-98	-5.20	64	104	110	306	-243	-424	-243	63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-247	-12	80	148	188	193	388	-160	-341	-160	146
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.44	2.71	2.84	2.56	2.82	3.16	3.54	3.58	3.45	3.43	3.98
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)	12.86	12.98	13.70	12.21	13.15	13.65	15.21	15.41	15.22	15.10	15.67
Price to Earnings (P/E)	22.81	22.74	24.41	21.70	23.20	24.04	26.69	26.67	26.18	24.49	25.10
Dividend Yield	4.60%	4.80%	4.53%	4.96%	4.44%	4.48%	3.96%	3.85%	3.96%	3.95%	3.79%
Earnings Yield	4.38%	4.40%	4.10%	4.61%	4.31%	4.16%	3.75%	3.75%	3.82%	4.08%	3.98%
Enterprise Value to Invested Capital (EV/IC)	2.39	2.68	2.72	2.48	2.75	3.13	3.37	3.46	3.38	3.53	3.88
Enterprise Value to Revenue (EV/Rev)	13.05	13.06	14.03	12.47	13.31	13.72	15.51	15.62	15.35	14.93	15.81
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	198.93	138.09	106.31	165.13	1,227.78	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	1,243.41	308.88	167.21	364.26	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	28.08	27.30	29.14	25.52	26.85	27.56	30.79	30.77	30.44	30.13	31.60
Enterprise Value to Operating Cash Flow (EV/OCF)	20.59	21.09	22.92	20.25	21.64	22.79	24.91	23.99	23.60	22.76	24.17
Enterprise Value to Free Cash Flow (EV/FCFF)	25.11	24.04	27.79	24.62	27.19	25.62	29.93	29.94	28.94	38.45	22.32
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.12	0.13	0.13	0.12	0.12	0.13	0.13	0.12	0.12	0.12	0.13
Long-Term Debt to Equity	0.12	0.13	0.10	0.10	0.09	0.10	0.13	0.12	0.12	0.12	0.13
Financial Leverage	0.04	0.02	0.07	0.05	0.04	0.02	0.07	0.05	0.03	-0.01	0.05
Leverage Ratio	5.39	5.67	5.47	4.95	4.67	5.02	5.35	5.48	5.76	6.08	6.71
Compound Leverage Factor	-15.66	-58.18	-1,170.30	89.77	52.78	50.22	21.79	-29.97	-15.99	-39.54	161.36
Debt to Total Capital	10.85%	11.36%	11.20%	11.03%	10.83%	11.46%	11.23%	10.98%	10.82%	10.64%	11.39%
Short-Term Debt to Total Capital	0.00%	0.00%	2.45%	2.41%	2.37%	2.51%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	10.85%	11.36%	8.75%	8.62%	8.46%	8.95%	11.23%	10.98%	10.82%	10.64%	11.39%
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	89.15%	88.64%	88.80%	88.97%	89.17%	88.54%	88.77%	89.02%	89.18%	89.36%	88.61%
Debt to EBITDA	-2.97	-3.78	-5.07	-111.26	8.48	5.63	3.73	5.61	42.77	-12.52	-6.64
Net Debt to EBITDA	-0.88	-0.44	-2.76	-49.19	2.46	0.69	2.07	2.17	10.64	4.10	-1.76
Long-Term Debt to EBITDA	-2.97	-3.78	-3.96	-86.92	6.62	4.40	3.73	5.61	42.77	-12.52	-6.64
Debt to NOPAT	1.38	1.28	1.26	1.21	1.14	1.12	1.08	1.05	1.06	1.06	1.01
Net Debt to NOPAT	0.41	0.15	0.69	0.53	0.33	0.14	0.60	0.40	0.26	-0.35	0.27
Long-Term Debt to NOPAT	1.38	1.28	0.99	0.95	0.89	0.88	1.08	1.05	1.06	1.06	1.01
Altman Z-Score	0.55	0.52	0.55	0.57	0.56	0.55	0.54	0.48	0.46	0.45	0.45
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	1.03	1.02	1.01	1.02	1.02	1.01	1.02	1.02	1.02	1.03	1.02
Quick Ratio	0.03	0.04	0.02	0.03	0.03	0.04	0.02	0.02	0.02	0.03	0.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	925	1,060	868	869	757	986	943	961	918	65	2,405
Operating Cash Flow to CapEx	4,305.03%	5,020.67%	4,508.59%	4,268.68%	3,365.77%	3,885.11%	7,863.38%	5,752.72%	5,261.41%	3,488.92%	5,779.36%
Free Cash Flow to Firm to Interest Expense	23.36	26.71	21.76	21.68	18.84	24.22	22.60	21.83	20.86	1.48	55.17
Operating Cash Flow to Interest Expense	21.63	26.30	22.37	19.37	24.95	25.01	26.78	24.06	22.00	25.95	28.90
Operating Cash Flow Less CapEx to Interest Expense	21.13	25.78	21.88	18.92	24.21	24.37	26.44	23.64	21.58	25.20	28.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.05	0.05	0.04	0.04	0.04	0.04	0.04
Accounts Receivable Turnover	9.39	10.95	8.32	9.67	10.18	11.06	8.99	10.17	10.06	10.76	7.92
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	12.11	12.90	13.45	14.23	15.04	15.41	16.38	17.24	17.26	17.41	18.60
Accounts Payable Turnover	10.87	7.82	7.97	11.00	9.17	9.97	8.06	9.03	8.66	11.96	10.52
Days Sales Outstanding (DSO)	38.86	33.33	43.86	37.74	35.87	33.01	40.61	35.89	36.30	33.93	46.06
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)	33.58	46.69	45.77	33.19	39.80	36.59	45.29	40.42	42.15	30.52	34.71
Cash Conversion Cycle (CCC)	5.28	-13.37	-1.92	4.55	-3.93	-3.59	-4.68	-4.53	-5.86	3.41	11.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,172	27,140	29,022	29,151	29,209	26,909	28,931	29,061	29,042	27,609	27,526
Invested Capital Turnover	0.18	0.20	0.19	0.20	0.21	0.23	0.22	0.22	0.22	0.24	0.24
Increase / (Decrease) in Invested Capital	-294	-361	-131	-104	37	-230	-91	-90	-168	699	-1,405
Enterprise Value (EV)	69,805	72,839	78,929	72,304	80,448	84,109	97,499	100,644	98,222	97,353	106,828
Market Capitalization	68,784	72,438	77,061	70,789	79,455	83,687	95,599	99,322	97,371	98,473	105,920
Book Value per Share	$78.25	$74.27	$75.58	$76.75	$78.36	$73.50	$75.01	$76.98	$78.22	$79.67	$74.22
Tangible Book Value per Share	($7.22)	($11.06)	($9.74)	($8.22)	($6.57)	($11.09)	($9.48)	($7.46)	($6.01)	($4.36)	($10.08)
Total Capital	31,576	30,163	30,580	31,063	31,644	29,915	30,450	31,159	31,612	32,151	30,041
Total Debt	3,425	3,425	3,426	3,427	3,427	3,428	3,419	3,420	3,421	3,422	3,423
Total Long-Term Debt	3,425	3,425	2,677	2,677	2,678	2,678	3,419	3,420	3,421	3,422	3,423
Net Debt	1,020	402	1,868	1,515	993	422	1,900	1,322	851	-1,120	908
Capital Expenditures (CapEx)	20	21	20	18	30	26	14	18	18	33	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	492	-1,550	398	613	636	-1,536	506	556	644	521	488
Debt-free Net Working Capital (DFNWC)	2,896	1,473	1,956	2,524	3,071	1,469	2,025	2,655	3,214	5,063	3,003
Net Working Capital (NWC)	2,896	1,473	1,206	1,775	2,321	720	2,025	2,655	3,214	5,063	3,003
Net Nonoperating Expense (NNE)	-119	-116	-118	-118	-118	-119	-105	-155	-158	-419	-154
Net Nonoperating Obligations (NNO)	1,020	402	1,868	1,515	993	422	1,900	1,322	851	-1,120	908
Total Depreciation and Amortization (D&A)	88	86	85	84	84	83	83	83	83	82	83
Debt-free, Cash-free Net Working Capital to Revenue	9.20%	-27.79%	7.07%	10.56%	10.53%	-25.06%	8.05%	8.63%	10.06%	7.99%	7.22%
Debt-free Net Working Capital to Revenue	54.16%	26.41%	34.77%	43.54%	50.80%	23.97%	32.23%	41.21%	50.23%	77.64%	44.44%
Net Working Capital to Revenue	54.16%	26.41%	21.44%	30.61%	38.40%	11.74%	32.23%	41.21%	50.23%	77.64%	44.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.06	$2.24	$2.35	$2.43	$2.51	$2.40	$2.63	$2.81	$2.49	$3.25	$3.25
Adjusted Weighted Average Basic Shares Outstanding	359.02M	359.02M	359.26M	359.33M	359.40M	359.39M	359.61M	359.66M	359.69M	359.65M	359.32M
Adjusted Diluted Earnings per Share	$2.06	$2.23	$2.35	$2.42	$2.50	$2.40	$2.62	$2.81	$2.49	$3.24	$3.18
Adjusted Weighted Average Diluted Shares Outstanding	359.62M	359.50M	359.83M	359.87M	359.99M	359.94M	360.23M	360.36M	360.42M	360.31M	363.21M
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	719.99M	359.99M	720.13M	720.19M	360.36M	360.36M	360.36M	360.38M	360.60M	358.63M	362.36M
Normalized Net Operating Profit after Tax (NOPAT)	632	699	737	765	794	755	851	870	750	764	1,001
Normalized NOPAT Margin	47.21%	48.56%	49.54%	49.95%	50.14%	49.52%	51.82%	51.43%	48.80%	46.35%	53.22%
Pre Tax Income Margin	72.83%	69.90%	74.83%	75.33%	74.28%	71.89%	75.80%	78.62%	76.55%	95.74%	80.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.47	-2.47	-0.13	1.59	2.59	2.69	7.33	-5.53	-9.64	-5.56	1.44
NOPAT to Interest Expense	15.95	17.61	18.47	19.09	19.76	18.56	20.41	19.78	17.05	17.49	22.95
EBIT Less CapEx to Interest Expense	-8.97	-2.99	-0.63	1.13	1.85	2.05	6.99	-5.94	-10.05	-6.30	0.94
NOPAT Less CapEx to Interest Expense	15.45	17.08	17.98	18.64	19.02	17.92	20.07	19.36	16.63	16.74	22.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	104.90%	100.29%	110.34%	107.38%	102.88%	101.66%	105.42%	102.42%	103.53%	96.58%	95.15%
Augmented Payout Ratio	104.90%	100.29%	110.34%	107.38%	102.88%	101.66%	105.42%	102.42%	103.53%	103.12%	114.00%

Financials Breakdown Chart

Key Financial Trends

CME Group has shown a multi-year trend of rising revenue and earnings, supported by strong cash flow generation and a solid balance sheet. The company’s fourth-quarter 2025 results reflect continued profitability and cash deployment to shareholders, while the balance sheet remains financing-lean with manageable debt. Here are the most important takeaways for retail investors looking at CME’s recent four-year trajectory.

Strong, multi-year revenue growth: Operating revenue rose from about $1.20B in Q4 2022 to roughly $1.65B in Q4 2025, signaling durable demand in CME’s core trading platform.
Significant net income growth: Net income grew from about $0.64B in Q4 2022 to about $1.18B in Q4 2025, supporting higher earnings per share over the period.
Robust operating cash flow: Net cash from continuing operating activities was about $1.13B in Q4 2025 (and remained around $0.96–$1.06B in prior quarters), indicating strong cash generation from operations.
High gross margins indicate pricing power: Total gross profit margin has consistently hovered around the mid-to-upper 80% range (roughly 84–85%), reflecting CME’s favorable margin structure.
shareholder-friendly capital allocation: CME maintains a cash dividend per share of $1.25 and has engaged in stock repurchases, demonstrating ongoing capital return to shareholders (for example, Repurchase of Common Equity in Q4 2025 was $257.9M).
Strong but extended balance sheet with ample liquidity: Cash and equivalents around $2.45B in mid-2025, total assets near $187B, and long-term debt around $3.4B, indicating substantial liquidity and a modest debt load relative to assets.
Significant but variable financing activity: In Q4 2025, Other Financing Activities net totaled about $10.6B and Net Financing Activities about $9.9B, reflecting sizable financing interactions that can affect near-term liquidity and cash balances.
Quarterly revenue volatility due to market volumes: While the four-year trend is upward, quarterly revenue can fluctuate (e.g., Q3 2025 underperformed Q2 2025), suggesting seasonality or volume-driven variability in CME’s top line.
Volatility in other income/expense: CME’s other income/expense, net has shown swings across quarters (e.g., Q4 2022 recorded a notable negative -$837.5M), which can temper pretax income consistency.

05/11/26 05:48 PM ETAI Generated. May Contain Errors.

CME Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CME Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

CME Group's net income appears to be on an upward trend, with a most recent value of $4.07 billion in 2025, rising from $1.25 billion in 2015. The previous period was $3.53 billion in 2024. Find out what analysts predict for CME Group in the coming months.

CME Group's total operating income in 2025 was $4.23 billion, based on the following breakdown:

Total Gross Profit: $5.61 billion
Total Operating Expenses: $1.38 billion

Over the last 10 years, CME Group's total revenue changed from $3.33 billion in 2015 to $6.52 billion in 2025, a change of 96.0%.

CME Group's total liabilities were at $169.70 billion at the end of 2025, a 52.9% increase from 2024, and a 262.5% increase since 2015.

In the past 10 years, CME Group's cash and equivalents has ranged from $1.37 billion in 2018 to $4.42 billion in 2025, and is currently $4.42 billion as of their latest financial filing in 2025.

Over the last 10 years, CME Group's book value per share changed from 60.76 in 2015 to 79.67 in 2025, a change of 31.1%.

Related Companies

Financial statements for NASDAQ:CME last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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

Financials Breakdown Chart

Key Financial Trends

CME Group Financials - Frequently Asked Questions

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

Financials Breakdown Chart

Key Financial Trends

CME Group Financials - Frequently Asked Questions

When does CME Group's fiscal year end?

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

What is CME Group's operating income?

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

How much debt does CME Group have?

How much cash does CME Group have?

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

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools