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Side-by-side financial comparison of Cboe Global Markets (CBOE) and JBT Marel Corp (JBTM). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.2B vs $1.0B, roughly 1.2× JBT Marel Corp). Cboe Global Markets runs the higher net margin — 26.0% vs 5.3%, a 20.8% gap on every dollar of revenue. On growth, JBT Marel Corp posted the faster year-over-year revenue change (115.6% vs 8.7%). Cboe Global Markets produced more free cash flow last quarter ($332.1M vs $83.5M). Over the past eight quarters, JBT Marel Corp's revenue compounded faster (60.3% CAGR vs 12.2%).
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.
JBT Marel Corporation, formerly known as JBT Corporation, or John Bean Technologies Corporation, is a food processing machinery and automated vehicle company. The company was incorporated in 2008 when FMC Technologies divested its non-energy businesses. The company is based in Chicago, Illinois and traces its history back to a company founded in 1884 by John Bean, an orchardist in Los Gatos, California.
CBOE vs JBTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.0B |
| Net Profit | $313.5M | $53.1M |
| Gross Margin | 55.7% | 34.5% |
| Operating Margin | 33.5% | 7.2% |
| Net Margin | 26.0% | 5.3% |
| Revenue YoY | 8.7% | 115.6% |
| Net Profit YoY | 59.5% | 858.6% |
| EPS (diluted) | $2.97 | $1.04 |
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 | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.2B | $934.8M | ||
| Q1 25 | $1.2B | $854.1M | ||
| Q4 24 | $1.1B | $467.6M | ||
| Q3 24 | $1.1B | $453.8M | ||
| Q2 24 | $974.0M | $402.3M | ||
| Q1 24 | $957.2M | $392.3M |
| Q4 25 | $313.5M | $53.1M | ||
| Q3 25 | $300.8M | $66.0M | ||
| Q2 25 | $235.1M | $3.4M | ||
| Q1 25 | $250.6M | $-173.0M | ||
| Q4 24 | $196.5M | $-7.0M | ||
| Q3 24 | $218.5M | $38.9M | ||
| Q2 24 | $140.4M | $30.7M | ||
| Q1 24 | $209.5M | $22.8M |
| Q4 25 | 55.7% | 34.5% | ||
| Q3 25 | 53.0% | 35.9% | ||
| Q2 25 | 50.0% | 35.8% | ||
| Q1 25 | 47.3% | 34.2% | ||
| Q4 24 | 47.4% | 38.4% | ||
| Q3 24 | 50.4% | 36.1% | ||
| Q2 24 | 52.8% | 35.6% | ||
| Q1 24 | 52.5% | 35.8% |
| Q4 25 | 33.5% | 7.2% | ||
| Q3 25 | 32.4% | 10.2% | ||
| Q2 25 | 28.9% | 5.2% | ||
| Q1 25 | 29.6% | -3.9% | ||
| Q4 24 | 27.0% | 3.4% | ||
| Q3 24 | 29.1% | 10.3% | ||
| Q2 24 | 21.6% | 6.7% | ||
| Q1 24 | 29.5% | 7.4% |
| Q4 25 | 26.0% | 5.3% | ||
| Q3 25 | 26.3% | 6.6% | ||
| Q2 25 | 20.0% | 0.4% | ||
| Q1 25 | 21.0% | -20.3% | ||
| Q4 24 | 17.7% | -1.5% | ||
| Q3 24 | 20.7% | 8.6% | ||
| Q2 24 | 14.4% | 7.6% | ||
| Q1 24 | 21.9% | 5.8% |
| Q4 25 | $2.97 | $1.04 | ||
| Q3 25 | $2.85 | $1.26 | ||
| Q2 25 | $2.23 | $0.07 | ||
| Q1 25 | $2.37 | $-3.35 | ||
| Q4 24 | $1.85 | $-0.22 | ||
| Q3 24 | $2.07 | $1.21 | ||
| Q2 24 | $1.33 | $0.95 | ||
| Q1 24 | $1.96 | $0.71 |
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 | $167.9M |
| Total DebtLower is stronger | $1.4B | $1.5B |
| Stockholders' EquityBook value | $5.1B | $4.5B |
| Total Assets | $9.3B | $8.2B |
| Debt / EquityLower = less leverage | 0.28× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $167.9M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $763.2M | — | ||
| Q2 24 | $698.3M | — | ||
| Q1 24 | $595.1M | — |
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | $648.3M | ||
| Q2 24 | $1.4B | $647.7M | ||
| Q1 24 | $1.4B | $647.0M |
| Q4 25 | $5.1B | $4.5B | ||
| Q3 25 | $4.9B | $4.4B | ||
| Q2 25 | $4.7B | $4.4B | ||
| Q1 25 | $4.5B | $4.1B | ||
| Q4 24 | $4.3B | $1.5B | ||
| Q3 24 | $4.2B | $1.6B | ||
| Q2 24 | $4.0B | $1.5B | ||
| Q1 24 | $4.0B | $1.5B |
| Q4 25 | $9.3B | $8.2B | ||
| Q3 25 | $9.1B | $8.2B | ||
| Q2 25 | $9.0B | $8.3B | ||
| Q1 25 | $8.7B | $8.0B | ||
| Q4 24 | $7.8B | $3.4B | ||
| Q3 24 | $8.7B | $2.8B | ||
| Q2 24 | $9.3B | $2.7B | ||
| Q1 24 | $8.2B | $2.7B |
| Q4 25 | 0.28× | 0.33× | ||
| Q3 25 | 0.30× | 0.34× | ||
| Q2 25 | 0.31× | 0.35× | ||
| Q1 25 | 0.32× | 0.48× | ||
| Q4 24 | 0.34× | 0.81× | ||
| Q3 24 | 0.34× | 0.41× | ||
| Q2 24 | 0.36× | 0.43× | ||
| Q1 24 | 0.36× | 0.43× |
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 | $117.4M |
| Free Cash FlowOCF − Capex | $332.1M | $83.5M |
| FCF MarginFCF / Revenue | 27.6% | 8.3% |
| Capex IntensityCapex / Revenue | 1.7% | 3.4% |
| Cash ConversionOCF / Net Profit | 1.12× | 2.21× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7B | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $352.1M | $117.4M | ||
| Q3 25 | $153.9M | $87.7M | ||
| Q2 25 | $333.7M | $102.2M | ||
| Q1 25 | $912.9M | $34.4M | ||
| Q4 24 | $-710.4M | $128.7M | ||
| Q3 24 | $-578.5M | $71.9M | ||
| Q2 24 | $1.5B | $21.6M | ||
| Q1 24 | $895.6M | $10.4M |
| Q4 25 | $332.1M | $83.5M | ||
| Q3 25 | $137.9M | $56.5M | ||
| Q2 25 | $313.4M | $83.7M | ||
| Q1 25 | $898.2M | $14.4M | ||
| Q4 24 | $-734.2M | $118.7M | ||
| Q3 24 | $-590.5M | $65.0M | ||
| Q2 24 | $1.5B | $11.1M | ||
| Q1 24 | $888.3M | $-100.0K |
| Q4 25 | 27.6% | 8.3% | ||
| Q3 25 | 12.1% | 5.6% | ||
| Q2 25 | 26.7% | 9.0% | ||
| Q1 25 | 75.2% | 1.7% | ||
| Q4 24 | -66.3% | 25.4% | ||
| Q3 24 | -55.9% | 14.3% | ||
| Q2 24 | 151.6% | 2.8% | ||
| Q1 24 | 92.8% | -0.0% |
| Q4 25 | 1.7% | 3.4% | ||
| Q3 25 | 1.4% | 3.1% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 1.2% | 2.3% | ||
| Q4 24 | 2.1% | 2.1% | ||
| Q3 24 | 1.1% | 1.5% | ||
| Q2 24 | 1.8% | 2.6% | ||
| Q1 24 | 0.8% | 2.7% |
| Q4 25 | 1.12× | 2.21× | ||
| Q3 25 | 0.51× | 1.33× | ||
| Q2 25 | 1.42× | 30.06× | ||
| Q1 25 | 3.64× | — | ||
| Q4 24 | -3.62× | — | ||
| Q3 24 | -2.65× | 1.85× | ||
| Q2 24 | 10.64× | 0.70× | ||
| Q1 24 | 4.27× | 0.46× |
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% |
JBTM
Segment breakdown not available.
