CBOE · BATS · STOCK
Cboe Global Markets (CBOE) Stock Analysis
$301.21
52W $227.15 – $371.18
66/100
$31.47B
23.4
0.41
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is CBOE Bullish or Bearish?
Bullish.
Innellis AI committee rates Cboe Global Markets (CBOE) Buy with a composite score of 66/100
, based on 6 analysts with 83% agreement.
Last updated August 23, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +9.20 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -10.80 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The primary driver is low leverage (debt-to-equity 0.28) -- balance sheet can absorb a shock. The main limiting factor is price-to-book of 5.1x prices in significant intangible value. The committee is constructive but not yet at full conviction.
Bull & Bear Case
Bull Case
- ROE of 25.8% shows genuine earnings power backing the valuation — Value
- EPS growing 50.4% YoY — Growth
- 4 consecutive earnings beats -- consistent execution — Growth
- Price structure making higher highs and higher lows — Technical
- MACD histogram positive -- bullish momentum — Technical
- Weekly trend (uptrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- Price-to-book of 5.1x prices in significant intangible value — Value
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- Price structure (LH_LL) contradicts the uptrend -- mixed signals — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of August 23, 2026
Overall Committee Score
66/100
Agreement
83%
Analysts
6
Conviction
High
Sector Rank
Top 20%
of 211 Financial Services peers
Value Analyst
neutral
59
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 25.8% shows genuine earnings power backing the valuation
− Price-to-book of 5.1x prices in significant intangible value
Growth Analyst
bullish
66
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 50.4% YoY
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
bullish
63
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ Price structure making higher highs and higher lows
− Price structure (LH_LL) contradicts the uptrend -- mixed signals
Risk Analyst
bullish
80
/ 100 · Low confidence
Risk profile is manageable -- leverage, volatility, and event exposure all look contained
+ Low leverage (debt-to-equity 0.28) -- balance sheet can absorb a shock
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 3069.37)
Investment Thesis Evolution
Committee score moved marginally from 65.5 to 65.8.
- Conviction changed from moderate to high.
- Committee agreement increased notably from 67% to 83%.
- Analyst(s) changed stance: News Analyst.
Analyst-level changes:
- News Analyst: stance neutral->bullish.
Comparing 2026-08-22 to 2026-08-23 (1 day apart).
Technical Analysis
RSI (14)
62.5
Neutral
MACD Histogram
0.021
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Lh Ll
Support
$272.67
Resistance
$304.86
Bollinger %B
0.76
Inside Bands
Price vs Moving Averages
EMA 9
$292.67
Above
EMA 21
$289.66
Above
EMA 50
$287.71
Above
EMA 200
$279.81
Above
Fundamental Analysis
Valuation
68
Growth
68
Profitability
95
Financial Health
82
Cash Flow
70
Valuation
P/E Ratio
23.4×
P/B Ratio
5.60×
PEG Ratio
0.46
Dividend Yield
0.96%
52W High
$371.18
52W Low
$227.15
Quality & Growth
ROE
2140.8%
ROA
1182.1%
Gross Margin
5229.5%
Operating Margin
3518.3%
Revenue Growth YoY
—
Debt / Equity
0.28
AI Fundamental Assessment
P/E ratio of 23.4 (inexpensive relative to a 15-40x range); Price-to-book of 5.6x; PEG ratio of 0.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 21.4%; Return on assets of 11.8%; Net margin of 26.7%; Gross margin of 52.3%; Current ratio of 1.57 (healthy short-term liquidity); Debt-to-equity of 0.28; Free cash flow per share is positive (0.21); Most recent quarter beat estimates by 0.4%; 4 consecutive earnings beats; EPS growth decelerating (+20.9% -> -3.8% QoQ); Average YoY EPS growth of 44.7%; Analyst estimates rising over recent quarters
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