CME
CME GROUP INC.
Financials • CIK: 0001156375
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Market Cap
$97.17B
P/E (TTM)
26.2x
Rev Growth (TTM)
+5.8%
Net Margin (TTM)
58.1%
FCF Yield (TTM)
4.2%
FCF Margin (TTM)
63.8%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$4.1B
Q3 '25
$950M-9%
Q2 '25
$1.0B-6%
FCF Margin
TTM63.8%
Q3 '2561.8%
Sector: 21.9%Top 10%
OCF Margin65.0%
OCF/NI1.12x
CapEx Coverage53.9x
FCF Yield4.2%
FCF Growth (2Y)+16%
Cash Conversion Cycle
-87 days
DSO: 38+DIO: 0−DPO: 125
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldEst.
Est.1.8%
Div Yield1.8%
+Est. Buyback1.4%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)1.8%
FCF Payout Ratio43.1%
Free Cash Flow (TTM)$4.1B
Capital Return / FCF95.4%
Est. Dividends Paid (TTM)$1.8B
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
-3.4%
Stable
+0.1% YoY+0.9%
P25MedianP75
25th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
50.4%
8Q: 49.7%
Asset Turnover
0.04x
8Q: 0.04x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 2.0% ≈ -3.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
17.16x
8Q:16.12x
+320.3%
Invested Cap Turn
-0.07x
8Q:-0.09x
+3.9%
CapEx Intensity
-0.1%
8Q:-0.1%
CapEx/Depreciation
0.71x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $6.4B | $1.5B↓9.1% | $1.7B↑3.0% | $1.6B↑7.7% | $1.5B↓3.7% | $1.6B↑3.4% | $1.5B↑3.0% | $1.5B↑3.4% | $1.4B |
Operating Income | $4.2B | $972.6M↓13.9% | $1.1B↑1.9% | $1.1B↑17.0% | $947.1M↓7.5% | $1.0B↑2.4% | $1.0B↑4.3% | $959.6M↑11.2% | $863.2M |
Net Income | $3.7B | $896.6M↓11.4% | $1.0B↑7.2% | $944.2M↑9.3% | $863.7M↓4.2% | $901.3M↑3.3% | $872.1M↑3.3% | $844.4M↑5.0% | $804.3M |
Operating Cash Flow | $4.2B | $968.1M↓8.5% | $1.1B↓5.2% | $1.1B↑9.7% | $1.0B↑1.5% | $1.0B↑29.1% | $776.9M↓13.0% | $892.7M↓14.5% | $1.0B |
Free Cash Flow | $4.1B | $949.7M↓8.7% | $1.0B↓5.7% | $1.1B↑11.2% | $991.7M↑1.9% | $973.2M↑28.3% | $758.7M↓13.1% | $872.9M↓14.7% | $1.0B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
26.2x
High PEG ratio (3.1x) suggests expensive for growth
Valuation Lenses
Earnings
26.2x
vs – sector
Cash Flow
-30.2x
EV/FCF vs –
Growth-Adj
3.1xPEG
Expensive for growth
Quality-Adj
–P/E per %ROIC
ROIC: -3.4%
Shareholder Returns
Dividend
1.8%
Buyback
–
Total Yield
1.8%
Market Cap$97.17B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
68/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
13.6%
8Q:–
Return on Invested Capital (ROIC)Below Avg
-3.4%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 50.4%
Asset Turnover: 0.04x
Earnings Quality
Cash Conversion
1.12x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin95.7%
Capital Efficiency
Invested Capital Turnover-0.07x
Working Capital
Cash Conversion Cycle-87 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
64/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
5.8%
OpInc Growth YoY
-5.0%
EPS Growth YoY
8.5%
FCF 3Y CAGR
15.5%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
95.7%
Operating
65.0%
Top 25% in sector
Net
58.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+5.7 pts
FCF: 63.8% | Net: 58.1%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $151.62B
Interest Coverage
–
+Net cash position: $151.62B
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis