CME Group reported a record year in 2025, marking its fourth consecutive year of record revenue, adjusted operating income, adjusted net income, and adjusted earnings per share, driven by strong average daily volume growth across key asset classes. The company achieved its second-highest quarterly revenue in Q4 2025, with a record Q4 volume, and is focused on expanding market efficiencies and access through new initiatives.
Record annual revenue of $6.5 billion, up 6% year-over-year.
positiveRecord annual market data revenue of $803 million, up 13% year-over-year.
positiveFourth quarter 2025 average daily volume (ADV) was the all-time highest fourth quarter with 27.4 million contracts, up 7% from fourth-quarter 2024.
positiveAchieved the second-highest quarterly revenue in history in Q4 2025.
positiveFull-year 2025 diluted earnings per common share were $11.16.
positiveCompany had approximately $4.6 billion in cash and $3.4 billion of debt as of December 31, 2025.
neutralOperating margin for Q4 2025 was 61.85% ($1,019.6M / $1,648.7M), a decrease from 62.09% in Q4 2024 ($947.1M / $1,525.3M).
attentionInterest rates ADV decreased to 13,010k in Q4 2025 from 13,244k in Q4 2024.
attentionMetals ADV decreased to 1,441k in Q4 2025 from 673k in Q4 2024, but the RPC decreased significantly to $1.295 from $1.530.
attentionEquity indexes RPC decreased to $0.611 in Q4 2025 from $0.658 in Q4 2024.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Interest rates | N/A | — | — | — |
Equity indexes | N/A | — | — | — |
Foreign exchange | N/A | — | — | — |
Energy | N/A | — | — | — |
Agricultural commodities | N/A | — | — | — |
Metals | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Last year, CME Group delivered the best year in our history and our fourth consecutive year of record revenue, adjusted operating income, adjusted net income and adjusted earnings per share.
In a risk-always-on environment, client demand for our products and services generated record average daily volume of 28.1 million contracts, including 12% growth in commodities trading and a 5% increase in financials.
In Q4, we achieved the second-highest quarterly revenue in our history as well as the highest Q4 volume on record.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.