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Side-by-side financial comparison of Cboe Global Markets (CBOE) and F5, Inc. (FFIV). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.3B vs $811.7M, roughly 1.6× F5, Inc.). Cboe Global Markets runs the higher net margin — 30.3% vs 18.2%, a 12.1% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (11.0% vs 6.5%). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (14.3% CAGR vs 8.0%).
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.
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
CBOE vs FFIV — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $811.7M |
| Net Profit | $385.7M | $148.0M |
| Gross Margin | 57.3% | 81.4% |
| Operating Margin | 39.7% | 22.1% |
| Net Margin | 30.3% | 18.2% |
| Revenue YoY | 6.5% | 11.0% |
| Net Profit YoY | 53.9% | 1.5% |
| EPS (diluted) | $3.66 | $2.58 |
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 | $811.7M | ||
| Q4 25 | $1.2B | $822.5M | ||
| Q3 25 | $1.1B | $810.1M | ||
| Q2 25 | $1.2B | $780.4M | ||
| Q1 25 | $1.2B | $731.1M | ||
| Q4 24 | $1.1B | $766.5M | ||
| Q3 24 | $1.1B | $746.7M | ||
| Q2 24 | $974.0M | $695.5M |
| Q1 26 | $385.7M | $148.0M | ||
| Q4 25 | $313.5M | $180.1M | ||
| Q3 25 | $300.8M | $190.5M | ||
| Q2 25 | $235.1M | $189.9M | ||
| Q1 25 | $250.6M | $145.5M | ||
| Q4 24 | $196.5M | $166.4M | ||
| Q3 24 | $218.5M | $165.3M | ||
| Q2 24 | $140.4M | $144.1M |
| Q1 26 | 57.3% | 81.4% | ||
| Q4 25 | 55.7% | 81.5% | ||
| Q3 25 | 53.0% | 82.2% | ||
| Q2 25 | 50.0% | 81.0% | ||
| Q1 25 | 47.3% | 80.7% | ||
| Q4 24 | 47.4% | 81.7% | ||
| Q3 24 | 50.4% | 80.8% | ||
| Q2 24 | 52.8% | 80.4% |
| Q1 26 | 39.7% | 22.1% | ||
| Q4 25 | 33.5% | 26.0% | ||
| Q3 25 | 32.4% | 25.4% | ||
| Q2 25 | 28.9% | 25.2% | ||
| Q1 25 | 29.6% | 21.7% | ||
| Q4 24 | 27.0% | 26.8% | ||
| Q3 24 | 29.1% | 25.6% | ||
| Q2 24 | 21.6% | 23.4% |
| Q1 26 | 30.3% | 18.2% | ||
| Q4 25 | 26.0% | 21.9% | ||
| Q3 25 | 26.3% | 23.5% | ||
| Q2 25 | 20.0% | 24.3% | ||
| Q1 25 | 21.0% | 19.9% | ||
| Q4 24 | 17.7% | 21.7% | ||
| Q3 24 | 20.7% | 22.1% | ||
| Q2 24 | 14.4% | 20.7% |
| Q1 26 | $3.66 | $2.58 | ||
| Q4 25 | $2.97 | $3.10 | ||
| Q3 25 | $2.85 | $3.25 | ||
| Q2 25 | $2.23 | $3.25 | ||
| Q1 25 | $2.37 | $2.48 | ||
| Q4 24 | $1.85 | $2.82 | ||
| Q3 24 | $2.07 | $2.79 | ||
| Q2 24 | $1.33 | $2.44 |
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 | $1.4B |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $5.4B | $3.6B |
| Total Assets | $11.1B | $6.5B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | $1.4B | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $763.2M | $1.1B | ||
| Q2 24 | $698.3M | $935.6M |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | $5.4B | $3.6B | ||
| Q4 25 | $5.1B | $3.5B | ||
| Q3 25 | $4.9B | $3.6B | ||
| Q2 25 | $4.7B | $3.5B | ||
| Q1 25 | $4.5B | $3.3B | ||
| Q4 24 | $4.3B | $3.2B | ||
| Q3 24 | $4.2B | $3.1B | ||
| Q2 24 | $4.0B | $3.0B |
| Q1 26 | $11.1B | $6.5B | ||
| Q4 25 | $9.3B | $6.3B | ||
| Q3 25 | $9.1B | $6.3B | ||
| Q2 25 | $9.0B | $6.1B | ||
| Q1 25 | $8.7B | $5.9B | ||
| Q4 24 | $7.8B | $5.9B | ||
| Q3 24 | $8.7B | $5.6B | ||
| Q2 24 | $9.3B | $5.4B |
| Q1 26 | 0.27× | — | ||
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | — | ||
| 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 | — | $525.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $525.1M | ||
| Q4 25 | $352.1M | $159.2M | ||
| Q3 25 | $153.9M | $208.1M | ||
| Q2 25 | $333.7M | $282.2M | ||
| Q1 25 | $912.9M | $256.6M | ||
| Q4 24 | $-710.4M | $202.8M | ||
| Q3 24 | $-578.5M | $246.5M | ||
| Q2 24 | $1.5B | $159.0M |
| Q1 26 | — | — | ||
| Q4 25 | $332.1M | $149.5M | ||
| Q3 25 | $137.9M | $191.9M | ||
| Q2 25 | $313.4M | $273.7M | ||
| Q1 25 | $898.2M | $246.1M | ||
| Q4 24 | $-734.2M | $194.7M | ||
| Q3 24 | $-590.5M | $240.4M | ||
| Q2 24 | $1.5B | $153.1M |
| Q1 26 | — | — | ||
| Q4 25 | 27.6% | 18.2% | ||
| Q3 25 | 12.1% | 23.7% | ||
| Q2 25 | 26.7% | 35.1% | ||
| Q1 25 | 75.2% | 33.7% | ||
| Q4 24 | -66.3% | 25.4% | ||
| Q3 24 | -55.9% | 32.2% | ||
| Q2 24 | 151.6% | 22.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 1.2% | ||
| Q3 25 | 1.4% | 2.0% | ||
| Q2 25 | 1.7% | 1.1% | ||
| Q1 25 | 1.2% | 1.4% | ||
| Q4 24 | 2.1% | 1.1% | ||
| Q3 24 | 1.1% | 0.8% | ||
| Q2 24 | 1.8% | 0.8% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 1.12× | 0.88× | ||
| Q3 25 | 0.51× | 1.09× | ||
| Q2 25 | 1.42× | 1.49× | ||
| Q1 25 | 3.64× | 1.76× | ||
| Q4 24 | -3.62× | 1.22× | ||
| Q3 24 | -2.65× | 1.49× | ||
| Q2 24 | 10.64× | 1.10× |
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% |
FFIV
Segment breakdown not available.
