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Side-by-side financial comparison of Cboe Global Markets (CBOE) and CIVITAS RESOURCES, INC. (CIVI). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.2B vs $1.2B, roughly 1.0× CIVITAS RESOURCES, INC.). On growth, Cboe Global Markets posted the faster year-over-year revenue change (8.7% vs -8.2%). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (12.2% CAGR vs 1.8%).
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.
Civitas Resources, Inc. is a U.S.-based sustainable energy enterprise focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It primarily operates across the Denver-Julesburg Basin in Colorado, prioritizing low-emission, responsible energy production to meet diverse North American energy demand.
CBOE vs CIVI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $313.5M | — |
| Gross Margin | 55.7% | — |
| Operating Margin | 33.5% | 20.0% |
| Net Margin | 26.0% | — |
| Revenue YoY | 8.7% | -8.2% |
| Net Profit YoY | 59.5% | — |
| EPS (diluted) | $2.97 | $1.99 |
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 | $1.2B | — | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $974.0M | $1.3B | ||
| Q1 24 | $957.2M | $1.3B |
| Q4 25 | $313.5M | — | ||
| Q3 25 | $300.8M | — | ||
| Q2 25 | $235.1M | — | ||
| Q1 25 | $250.6M | — | ||
| Q4 24 | $196.5M | — | ||
| Q3 24 | $218.5M | — | ||
| Q2 24 | $140.4M | — | ||
| Q1 24 | $209.5M | — |
| Q4 25 | 55.7% | — | ||
| Q3 25 | 53.0% | — | ||
| Q2 25 | 50.0% | — | ||
| Q1 25 | 47.3% | — | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 50.4% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 52.5% | — |
| Q4 25 | 33.5% | — | ||
| Q3 25 | 32.4% | 20.0% | ||
| Q2 25 | 28.9% | 15.3% | ||
| Q1 25 | 29.6% | 20.7% | ||
| Q4 24 | 27.0% | 15.4% | ||
| Q3 24 | 29.1% | 30.6% | ||
| Q2 24 | 21.6% | 21.6% | ||
| Q1 24 | 29.5% | 15.9% |
| Q4 25 | 26.0% | — | ||
| Q3 25 | 26.3% | — | ||
| Q2 25 | 20.0% | — | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 14.4% | — | ||
| Q1 24 | 21.9% | — |
| Q4 25 | $2.97 | — | ||
| Q3 25 | $2.85 | $1.99 | ||
| Q2 25 | $2.23 | $1.34 | ||
| Q1 25 | $2.37 | $1.99 | ||
| Q4 24 | $1.85 | $1.56 | ||
| Q3 24 | $2.07 | $3.01 | ||
| Q2 24 | $1.33 | $2.15 | ||
| Q1 24 | $1.96 | $1.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | $56.0M |
| Total DebtLower is stronger | $1.4B | $5.1B |
| Stockholders' EquityBook value | $5.1B | $6.7B |
| Total Assets | $9.3B | $15.1B |
| Debt / EquityLower = less leverage | 0.28× | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | — | ||
| Q3 25 | $1.5B | $56.0M | ||
| Q2 25 | $1.5B | $69.0M | ||
| Q1 25 | $1.2B | $20.0M | ||
| Q4 24 | $1.0B | $76.0M | ||
| Q3 24 | $763.2M | $47.1M | ||
| Q2 24 | $698.3M | $91.9M | ||
| Q1 24 | $595.1M | $52.1M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $5.1B | ||
| Q2 25 | $1.4B | $5.4B | ||
| Q1 25 | $1.4B | $5.1B | ||
| Q4 24 | $1.4B | $4.5B | ||
| Q3 24 | $1.4B | $4.8B | ||
| Q2 24 | $1.4B | $4.9B | ||
| Q1 24 | $1.4B | $4.4B |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.9B | $6.7B | ||
| Q2 25 | $4.7B | $6.8B | ||
| Q1 25 | $4.5B | $6.7B | ||
| Q4 24 | $4.3B | $6.6B | ||
| Q3 24 | $4.2B | $6.7B | ||
| Q2 24 | $4.0B | $6.6B | ||
| Q1 24 | $4.0B | $6.6B |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $9.1B | $15.1B | ||
| Q2 25 | $9.0B | $15.4B | ||
| Q1 25 | $8.7B | $15.3B | ||
| Q4 24 | $7.8B | $14.9B | ||
| Q3 24 | $8.7B | $15.0B | ||
| Q2 24 | $9.3B | $15.0B | ||
| Q1 24 | $8.2B | $15.1B |
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | 0.77× | ||
| Q2 25 | 0.31× | 0.79× | ||
| Q1 25 | 0.32× | 0.76× | ||
| Q4 24 | 0.34× | 0.68× | ||
| Q3 24 | 0.34× | 0.73× | ||
| Q2 24 | 0.36× | 0.74× | ||
| Q1 24 | 0.36× | 0.67× |
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 | $352.1M | $860.0M |
| Free Cash FlowOCF − Capex | $332.1M | — |
| FCF MarginFCF / Revenue | 27.6% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $352.1M | — | ||
| Q3 25 | $153.9M | $860.0M | ||
| Q2 25 | $333.7M | $298.0M | ||
| Q1 25 | $912.9M | $719.0M | ||
| Q4 24 | $-710.4M | $858.2M | ||
| Q3 24 | $-578.5M | $835.0M | ||
| Q2 24 | $1.5B | $359.0M | ||
| Q1 24 | $895.6M | $813.0M |
| Q4 25 | $332.1M | — | ||
| Q3 25 | $137.9M | — | ||
| Q2 25 | $313.4M | — | ||
| Q1 25 | $898.2M | — | ||
| Q4 24 | $-734.2M | — | ||
| Q3 24 | $-590.5M | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $888.3M | — |
| Q4 25 | 27.6% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 75.2% | — | ||
| Q4 24 | -66.3% | — | ||
| Q3 24 | -55.9% | — | ||
| Q2 24 | 151.6% | — | ||
| Q1 24 | 92.8% | — |
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | 1.12× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 1.42× | — | ||
| Q1 25 | 3.64× | — | ||
| Q4 24 | -3.62× | — | ||
| Q3 24 | -2.65× | — | ||
| Q2 24 | 10.64× | — | ||
| Q1 24 | 4.27× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
CIVI
| Crude Oil Natural Gas And Natural Gas Liquids | $1.2B | 99% |
| Oil And Gas Operation And Maintenance | $8.0M | 1% |
| Natural Gas Reserves | $2.0M | 0% |
