Rankings Financial data & insurance broking CME Group
CME Group
74
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history−4
- Quality of growth−2
- Peers−2
Strengths
- Record volume in Q3+2
- Pricing power and margin+2
- Dividend below FCF+1
How the score is built
From 100 to 74, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 306.24 USD
- Median analyst target
- 328.50 USD
- Upside to median
- +7.3%
- Analysts
- 17
- Target range
- 227.00 – 367.00 USD
- 52-week change
- +15%
- P/E (trailing)
- 25.1
- Forward P/E
- 23.7
- PEG
- 3.32
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 2 findings−3 of −30
- −2Quality of growthRevenue grew only 5.0% (TTM) and 6.3% in 2025, and analysts expect just 6.2% annual revenue growth and 8% EPS growth over the next three years. Growth follows volatility: Q1 2026 was a record (36.2m contracts/day), Q2 fell to 29.8m.
- −1Capital allocationPractically no buybacks (share count +0.3% in a year); almost all free cash flow (96%) is paid out as dividends, so there is no reinvestment or share-count reduction lifting value per share.
Price
Today's multiples against the company's own history and its peers. · 2 findings−6 of −35
- −4Multiples vs own historyP/E 24.5 is mid-range of 20.5–27.4 for 2018–2025, but P/B 3.92 is a record (2.25–3.43 in 2021–2025) and EV/EBITDA 22.3 is above 18.5–21.7 in 2022–2025; forward P/E 23.2 vs 20.6–23.9. The price (294) is above the average price target (293).
- −2PeersICE trades at P/E 22.4, forward P/E 19.1 and EV/EBITDA 16.2 vs CME's 24.5/23.2/22.3; a discount of 20-35%, which CME's higher margin only partly explains.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−5 of −35
- −2Competition in interest rate futuresBGC/Cantor's FMX is attacking CME's dominance in US Treasury and SOFR futures with clearing via LCH and low or zero pricing, and ICE has received approval for Treasury clearing; BofA has assessed that CME may have to cut interest rate futures prices by over 10%.
- −2Interest rate sensitivityPre-tax income (USD 5.59bn) exceeds operating income (USD 4.44bn) by about USD 1.15bn, primarily interest income on client clearing funds and investments; Fed rate cuts hit this line directly.
- −1
Plus
Only documented strengths. · 3 findings+5 of +15
- +2Record volume in Q3Q3 record of 29.4m contracts/day (+16%) and September record of 31.8m (+22%); interest rates +22% and equity indices +16% in September, and international volume +22% in Q3.
- +2Pricing power and marginRecord market data revenue of USD 238m in Q2 (+20%), and the operating margin has risen from 55.5% (2021) to 65.7%; ROIC has risen from 7.1% to 12.2%.
- +1Dividend below FCFThe dividend incl. variable dividend of USD 11.35 per share (3.9%) equals 96% of FCF (USD 4.21bn); the payout is just below free cash flow, and debt is low (debt/EBITDA 0.8).
Caveats
What the score does not capture, or where the data is weak.
The Q3 report is due on 21 Oct 2026 and is not included; the score is based on the Q2 report and the published Q3 volume figures (data as of 16 Oct 2026). The dividend of USD 11.35 (3.9%) includes the annual variable dividend. About USD 1.15bn of pre-tax profit (USD 5.59bn) is non-operating (interest on clearing funds, equity interests and so on). Peer comparison only against ICE. Insider trading and prediction market regulation have not been investigated. That superinvestors have bought the stock gives no points.
Also in Financial data & insurance broking
The highest scores in the same industry.
