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Side-by-side financial comparison of Cboe Global Markets (CBOE) and CONSTELLIUM SE (CSTM). Click either name above to swap in a different company.
CONSTELLIUM SE is the larger business by last-quarter revenue ($2.2B vs $1.3B, roughly 1.7× Cboe Global Markets). Cboe Global Markets runs the higher net margin — 30.3% vs 5.1%, a 25.2% gap on every dollar of revenue.
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.
Constellium SE is an American-Swiss, French-based global manufacturer of aluminium rolled products, extruded products, and structural parts based on a large variety of advanced alloys. Constellium's C-TEC research center has been credited for advancing technology in the field of advanced aluminium alloy. Constellium primarily serves the aerospace, automotive, and packaging sectors. Large clients include Mercedes-Benz, Audi, BMW, Fiat Chrysler Automotive, Ford, Airbus, Boeing, and Bombardier.
CBOE vs CSTM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $2.2B |
| Net Profit | $385.7M | $112.0M |
| Gross Margin | 57.3% | — |
| Operating Margin | 39.7% | 7.5% |
| Net Margin | 30.3% | 5.1% |
| Revenue YoY | 6.5% | — |
| Net Profit YoY | 53.9% | — |
| EPS (diluted) | $3.66 | $0.79 |
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.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $974.0M | $1.9B |
| Q1 26 | $385.7M | — | ||
| Q4 25 | $313.5M | $112.0M | ||
| Q3 25 | $300.8M | $88.0M | ||
| Q2 25 | $235.1M | $36.0M | ||
| Q1 25 | $250.6M | $37.0M | ||
| Q4 24 | $196.5M | — | ||
| Q3 24 | $218.5M | — | ||
| Q2 24 | $140.4M | $76.0M |
| Q1 26 | 57.3% | — | ||
| 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 26 | 39.7% | — | ||
| Q4 25 | 33.5% | 7.5% | ||
| Q3 25 | 32.4% | 5.8% | ||
| Q2 25 | 28.9% | 2.7% | ||
| Q1 25 | 29.6% | 3.1% | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 29.1% | — | ||
| Q2 24 | 21.6% | 5.4% |
| Q1 26 | 30.3% | — | ||
| Q4 25 | 26.0% | 5.1% | ||
| Q3 25 | 26.3% | 4.1% | ||
| Q2 25 | 20.0% | 1.7% | ||
| Q1 25 | 21.0% | 1.9% | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 14.4% | 3.9% |
| Q1 26 | $3.66 | — | ||
| Q4 25 | $2.97 | $0.79 | ||
| Q3 25 | $2.85 | $0.62 | ||
| Q2 25 | $2.23 | $0.25 | ||
| Q1 25 | $2.37 | $0.26 | ||
| Q4 24 | $1.85 | — | ||
| Q3 24 | $2.07 | — | ||
| Q2 24 | $1.33 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.1B | $120.0M |
| Total DebtLower is stronger | $1.4B | $1.9B |
| Stockholders' EquityBook value | $5.4B | $952.0M |
| Total Assets | $11.1B | $5.4B |
| Debt / EquityLower = less leverage | 0.27× | 2.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.3B | $120.0M | ||
| Q3 25 | $1.5B | $122.0M | ||
| Q2 25 | $1.5B | $133.0M | ||
| Q1 25 | $1.2B | $118.0M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $763.2M | — | ||
| Q2 24 | $698.3M | — |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.1B | $952.0M | ||
| Q3 25 | $4.9B | $845.0M | ||
| Q2 25 | $4.7B | $780.0M | ||
| Q1 25 | $4.5B | $745.0M | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.0B | $796.0M |
| Q1 26 | $11.1B | — | ||
| Q4 25 | $9.3B | $5.4B | ||
| Q3 25 | $9.1B | $5.4B | ||
| Q2 25 | $9.0B | $5.4B | ||
| Q1 25 | $8.7B | $5.2B | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $8.7B | — | ||
| Q2 24 | $9.3B | — |
| Q1 26 | 0.27× | — | ||
| Q4 25 | 0.28× | 2.00× | ||
| Q3 25 | 0.30× | 2.34× | ||
| Q2 25 | 0.31× | 2.53× | ||
| Q1 25 | 0.32× | 2.56× | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 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 | — | $218.0M |
| Free Cash FlowOCF − Capex | — | $109.0M |
| FCF MarginFCF / Revenue | — | 5.0% |
| Capex IntensityCapex / Revenue | — | 5.0% |
| Cash ConversionOCF / Net Profit | — | 1.95× |
| TTM Free Cash FlowTrailing 4 quarters | — | $159.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $352.1M | $218.0M | ||
| Q3 25 | $153.9M | $99.0M | ||
| Q2 25 | $333.7M | $114.0M | ||
| Q1 25 | $912.9M | $58.0M | ||
| Q4 24 | $-710.4M | — | ||
| Q3 24 | $-578.5M | — | ||
| Q2 24 | $1.5B | $138.0M |
| Q1 26 | — | — | ||
| Q4 25 | $332.1M | $109.0M | ||
| Q3 25 | $137.9M | $24.0M | ||
| Q2 25 | $313.4M | $37.0M | ||
| Q1 25 | $898.2M | $-11.0M | ||
| Q4 24 | $-734.2M | — | ||
| Q3 24 | $-590.5M | — | ||
| Q2 24 | $1.5B | $54.0M |
| Q1 26 | — | — | ||
| Q4 25 | 27.6% | 5.0% | ||
| Q3 25 | 12.1% | 1.1% | ||
| Q2 25 | 26.7% | 1.8% | ||
| Q1 25 | 75.2% | -0.6% | ||
| Q4 24 | -66.3% | — | ||
| Q3 24 | -55.9% | — | ||
| Q2 24 | 151.6% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 5.0% | ||
| Q3 25 | 1.4% | 3.5% | ||
| Q2 25 | 1.7% | 3.7% | ||
| Q1 25 | 1.2% | 3.5% | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.8% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.12× | 1.95× | ||
| Q3 25 | 0.51× | 1.13× | ||
| Q2 25 | 1.42× | 3.17× | ||
| Q1 25 | 3.64× | 1.57× | ||
| Q4 24 | -3.62× | — | ||
| Q3 24 | -2.65× | — | ||
| Q2 24 | 10.64× | 1.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBOE
| Derivatives markets | $609.3M | 48% |
| Cash and spot markets | $482.2M | 38% |
| Data Vantage | $181.3M | 14% |
CSTM
| Packaging Rolled Products | $1.0B | 46% |
| Automotive Rolled Products | $318.0M | 14% |
| Aerospace Rolled Products | $270.0M | 12% |
| Transportation Industry Defense And Other Rolled Products | $232.0M | 11% |
| Automotive Extruded Products | $220.0M | 10% |
| Other Extruded Products | $132.0M | 6% |
| Specialty And Other Thin Rolled Products | $22.0M | 1% |
