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Side-by-side financial comparison of BRUNSWICK CORP (BC) and Cboe Global Markets (CBOE). Click either name above to swap in a different company.
BRUNSWICK CORP is the larger business by last-quarter revenue ($1.3B vs $1.2B, roughly 1.1× Cboe Global Markets). Cboe Global Markets runs the higher net margin — 26.0% vs 1.4%, a 24.6% gap on every dollar of revenue. On growth, BRUNSWICK CORP posted the faster year-over-year revenue change (15.5% vs 8.7%). Cboe Global Markets produced more free cash flow last quarter ($332.1M vs $83.6M). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (12.2% CAGR vs -1.1%).
Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American corporation that has been developing, manufacturing and marketing a wide variety of products since 1845. Brunswick has more than 13,000 employees in 24 countries. Brunswick owns a number of brands, including Mercury Marine. In 2024, Brunswick reported sales of US$5.2 billion. Brunswick's global headquarters is in the northern Chicago suburb of Mettawa, Illinois.
Cboe Global Markets, Inc. is an American financial exchange operator headquartered in Chicago. It owns and operates a portfolio of exchanges and trading venues across equities, options, futures, and digital assets.
BC vs CBOE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.2B |
| Net Profit | $18.7M | $313.5M |
| Gross Margin | 23.1% | 55.7% |
| Operating Margin | 3.1% | 33.5% |
| Net Margin | 1.4% | 26.0% |
| Revenue YoY | 15.5% | 8.7% |
| Net Profit YoY | 122.7% | 59.5% |
| EPS (diluted) | $0.32 | $2.97 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.4B | $974.0M | ||
| Q1 24 | $1.4B | $957.2M |
| Q4 25 | $18.7M | $313.5M | ||
| Q3 25 | $-235.5M | $300.8M | ||
| Q2 25 | $59.3M | $235.1M | ||
| Q1 25 | $20.2M | $250.6M | ||
| Q4 24 | $-82.5M | $196.5M | ||
| Q3 24 | $44.6M | $218.5M | ||
| Q2 24 | $100.0M | $140.4M | ||
| Q1 24 | $68.0M | $209.5M |
| Q4 25 | 23.1% | 55.7% | ||
| Q3 25 | 25.8% | 53.0% | ||
| Q2 25 | 25.5% | 50.0% | ||
| Q1 25 | 24.9% | 47.3% | ||
| Q4 24 | 21.9% | 47.4% | ||
| Q3 24 | 26.2% | 50.4% | ||
| Q2 24 | 27.1% | 52.8% | ||
| Q1 24 | 27.4% | 52.5% |
| Q4 25 | 3.1% | 33.5% | ||
| Q3 25 | -17.8% | 32.4% | ||
| Q2 25 | 7.1% | 28.9% | ||
| Q1 25 | 4.6% | 29.6% | ||
| Q4 24 | -4.8% | 27.0% | ||
| Q3 24 | 7.7% | 29.1% | ||
| Q2 24 | 11.0% | 21.6% | ||
| Q1 24 | 8.1% | 29.5% |
| Q4 25 | 1.4% | 26.0% | ||
| Q3 25 | -17.3% | 26.3% | ||
| Q2 25 | 4.1% | 20.0% | ||
| Q1 25 | 1.7% | 21.0% | ||
| Q4 24 | -7.1% | 17.7% | ||
| Q3 24 | 3.5% | 20.7% | ||
| Q2 24 | 6.9% | 14.4% | ||
| Q1 24 | 5.0% | 21.9% |
| Q4 25 | $0.32 | $2.97 | ||
| Q3 25 | $-3.59 | $2.85 | ||
| Q2 25 | $0.89 | $2.23 | ||
| Q1 25 | $0.30 | $2.37 | ||
| Q4 24 | $-1.21 | $1.85 | ||
| Q3 24 | $0.67 | $2.07 | ||
| Q2 24 | $1.48 | $1.33 | ||
| Q1 24 | $0.99 | $1.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $256.8M | $2.3B |
| Total DebtLower is stronger | $2.1B | $1.4B |
| Stockholders' EquityBook value | $1.6B | $5.1B |
| Total Assets | $5.3B | $9.3B |
| Debt / EquityLower = less leverage | 1.30× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $256.8M | $2.3B | ||
| Q3 25 | $297.7M | $1.5B | ||
| Q2 25 | $315.7M | $1.5B | ||
| Q1 25 | $286.7M | $1.2B | ||
| Q4 24 | $269.0M | $1.0B | ||
| Q3 24 | $284.1M | $763.2M | ||
| Q2 24 | $494.5M | $698.3M | ||
| Q1 24 | $548.4M | $595.1M |
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $1.6B | $5.1B | ||
| Q3 25 | $1.6B | $4.9B | ||
| Q2 25 | $1.9B | $4.7B | ||
| Q1 25 | $1.9B | $4.5B | ||
| Q4 24 | $1.9B | $4.3B | ||
| Q3 24 | $2.0B | $4.2B | ||
| Q2 24 | $2.0B | $4.0B | ||
| Q1 24 | $2.0B | $4.0B |
| Q4 25 | $5.3B | $9.3B | ||
| Q3 25 | $5.4B | $9.1B | ||
| Q2 25 | $5.8B | $9.0B | ||
| Q1 25 | $5.9B | $8.7B | ||
| Q4 24 | $5.7B | $7.8B | ||
| Q3 24 | $6.0B | $8.7B | ||
| Q2 24 | $6.4B | $9.3B | ||
| Q1 24 | $6.5B | $8.2B |
| Q4 25 | 1.30× | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | 1.25× | 0.34× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.36× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $132.9M | $352.1M |
| Free Cash FlowOCF − Capex | $83.6M | $332.1M |
| FCF MarginFCF / Revenue | 6.3% | 27.6% |
| Capex IntensityCapex / Revenue | 3.7% | 1.7% |
| Cash ConversionOCF / Net Profit | 7.11× | 1.12× |
| TTM Free Cash FlowTrailing 4 quarters | $396.3M | $1.7B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $132.9M | $352.1M | ||
| Q3 25 | $140.4M | $153.9M | ||
| Q2 25 | $316.2M | $333.7M | ||
| Q1 25 | $-27.4M | $912.9M | ||
| Q4 24 | $306.4M | $-710.4M | ||
| Q3 24 | $67.4M | $-578.5M | ||
| Q2 24 | $211.0M | $1.5B | ||
| Q1 24 | $-153.4M | $895.6M |
| Q4 25 | $83.6M | $332.1M | ||
| Q3 25 | $106.5M | $137.9M | ||
| Q2 25 | $271.3M | $313.4M | ||
| Q1 25 | $-65.1M | $898.2M | ||
| Q4 24 | $276.1M | $-734.2M | ||
| Q3 24 | $31.4M | $-590.5M | ||
| Q2 24 | $163.9M | $1.5B | ||
| Q1 24 | $-207.4M | $888.3M |
| Q4 25 | 6.3% | 27.6% | ||
| Q3 25 | 7.8% | 12.1% | ||
| Q2 25 | 18.7% | 26.7% | ||
| Q1 25 | -5.3% | 75.2% | ||
| Q4 24 | 23.9% | -66.3% | ||
| Q3 24 | 2.5% | -55.9% | ||
| Q2 24 | 11.4% | 151.6% | ||
| Q1 24 | -15.2% | 92.8% |
| Q4 25 | 3.7% | 1.7% | ||
| Q3 25 | 2.5% | 1.4% | ||
| Q2 25 | 3.1% | 1.7% | ||
| Q1 25 | 3.1% | 1.2% | ||
| Q4 24 | 2.6% | 2.1% | ||
| Q3 24 | 2.8% | 1.1% | ||
| Q2 24 | 3.3% | 1.8% | ||
| Q1 24 | 4.0% | 0.8% |
| Q4 25 | 7.11× | 1.12× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | 5.33× | 1.42× | ||
| Q1 25 | -1.36× | 3.64× | ||
| Q4 24 | — | -3.62× | ||
| Q3 24 | 1.51× | -2.65× | ||
| Q2 24 | 2.11× | 10.64× | ||
| Q1 24 | -2.26× | 4.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
