vs
Side-by-side financial comparison of Cboe Global Markets (CBOE) and LOGITECH INTERNATIONAL S.A. (LOGI). Click either name above to swap in a different company.
LOGITECH INTERNATIONAL S.A. is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.2× Cboe Global Markets). Cboe Global Markets runs the higher net margin — 26.0% vs 17.7%, a 8.4% gap on every dollar of revenue. On growth, Cboe Global Markets posted the faster year-over-year revenue change (8.7% vs 6.1%). LOGITECH INTERNATIONAL S.A. produced more free cash flow last quarter ($465.6M vs $332.1M). Over the past eight quarters, LOGITECH INTERNATIONAL S.A.'s revenue compounded faster (18.5% 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.
Logitech International S.A. is a Swiss multinational manufacturer of computer peripherals and software. Headquartered in Lausanne, Switzerland, the company has offices throughout Europe, Asia, Oceania, and the Americas. It is a component of the Swiss Market Index, and is listed on the Nasdaq.
CBOE vs LOGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.4B |
| Net Profit | $313.5M | $251.0M |
| Gross Margin | 55.7% | 43.2% |
| Operating Margin | 33.5% | 20.1% |
| Net Margin | 26.0% | 17.7% |
| Revenue YoY | 8.7% | 6.1% |
| Net Profit YoY | 59.5% | 25.4% |
| EPS (diluted) | $2.97 | $1.69 |
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 | $1.4B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $974.0M | $1.1B | ||
| Q1 24 | $957.2M | $1.0B |
| Q4 25 | $313.5M | $251.0M | ||
| Q3 25 | $300.8M | $170.7M | ||
| Q2 25 | $235.1M | $146.0M | ||
| Q1 25 | $250.6M | $144.1M | ||
| Q4 24 | $196.5M | $200.1M | ||
| Q3 24 | $218.5M | $145.5M | ||
| Q2 24 | $140.4M | $141.8M | ||
| Q1 24 | $209.5M | $167.6M |
| Q4 25 | 55.7% | 43.2% | ||
| Q3 25 | 53.0% | 43.4% | ||
| Q2 25 | 50.0% | 41.7% | ||
| Q1 25 | 47.3% | 43.1% | ||
| Q4 24 | 47.4% | 42.9% | ||
| Q3 24 | 50.4% | 43.6% | ||
| Q2 24 | 52.8% | 42.8% | ||
| Q1 24 | 52.5% | 43.2% |
| Q4 25 | 33.5% | 20.1% | ||
| Q3 25 | 32.4% | 16.1% | ||
| Q2 25 | 28.9% | 14.1% | ||
| Q1 25 | 29.6% | 10.5% | ||
| Q4 24 | 27.0% | 17.5% | ||
| Q3 24 | 29.1% | 14.4% | ||
| Q2 24 | 21.6% | 14.1% | ||
| Q1 24 | 29.5% | 12.9% |
| Q4 25 | 26.0% | 17.7% | ||
| Q3 25 | 26.3% | 14.4% | ||
| Q2 25 | 20.0% | 12.7% | ||
| Q1 25 | 21.0% | 14.3% | ||
| Q4 24 | 17.7% | 14.9% | ||
| Q3 24 | 20.7% | 13.0% | ||
| Q2 24 | 14.4% | 13.0% | ||
| Q1 24 | 21.9% | 16.6% |
| Q4 25 | $2.97 | $1.69 | ||
| Q3 25 | $2.85 | $1.15 | ||
| Q2 25 | $2.23 | $0.98 | ||
| Q1 25 | $2.37 | $0.94 | ||
| Q4 24 | $1.85 | $1.32 | ||
| Q3 24 | $2.07 | $0.95 | ||
| Q2 24 | $1.33 | $0.92 | ||
| Q1 24 | $1.96 | $1.07 |
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 | $1.8B |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $5.1B | $2.3B |
| Total Assets | $9.3B | $4.1B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $763.2M | $1.4B | ||
| Q2 24 | $698.3M | $1.5B | ||
| Q1 24 | $595.1M | $1.5B |
| 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 24 | $1.4B | — |
| Q4 25 | $5.1B | $2.3B | ||
| Q3 25 | $4.9B | $2.1B | ||
| Q2 25 | $4.7B | $2.2B | ||
| Q1 25 | $4.5B | $2.1B | ||
| Q4 24 | $4.3B | $2.1B | ||
| Q3 24 | $4.2B | $2.1B | ||
| Q2 24 | $4.0B | $2.2B | ||
| Q1 24 | $4.0B | $2.2B |
| Q4 25 | $9.3B | $4.1B | ||
| Q3 25 | $9.1B | $3.7B | ||
| Q2 25 | $9.0B | $3.7B | ||
| Q1 25 | $8.7B | $3.5B | ||
| Q4 24 | $7.8B | $3.7B | ||
| Q3 24 | $8.7B | $3.6B | ||
| Q2 24 | $9.3B | $3.7B | ||
| Q1 24 | $8.2B | $3.6B |
| 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× | — | ||
| 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 | $352.1M | $480.5M |
| Free Cash FlowOCF − Capex | $332.1M | $465.6M |
| FCF MarginFCF / Revenue | 27.6% | 32.8% |
| Capex IntensityCapex / Revenue | 1.7% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.12× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7B | $903.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $352.1M | $480.5M | ||
| Q3 25 | $153.9M | $228.8M | ||
| Q2 25 | $333.7M | $125.0M | ||
| Q1 25 | $912.9M | $129.7M | ||
| Q4 24 | $-710.4M | $370.9M | ||
| Q3 24 | $-578.5M | $166.0M | ||
| Q2 24 | $1.5B | $176.0M | ||
| Q1 24 | $895.6M | $239.1M |
| Q4 25 | $332.1M | $465.6M | ||
| Q3 25 | $137.9M | $212.3M | ||
| Q2 25 | $313.4M | $108.8M | ||
| Q1 25 | $898.2M | $116.9M | ||
| Q4 24 | $-734.2M | $356.6M | ||
| Q3 24 | $-590.5M | $151.5M | ||
| Q2 24 | $1.5B | $161.4M | ||
| Q1 24 | $888.3M | $228.8M |
| Q4 25 | 27.6% | 32.8% | ||
| Q3 25 | 12.1% | 17.9% | ||
| Q2 25 | 26.7% | 9.5% | ||
| Q1 25 | 75.2% | 11.6% | ||
| Q4 24 | -66.3% | 26.6% | ||
| Q3 24 | -55.9% | 13.6% | ||
| Q2 24 | 151.6% | 14.8% | ||
| Q1 24 | 92.8% | 22.6% |
| Q4 25 | 1.7% | 1.0% | ||
| Q3 25 | 1.4% | 1.4% | ||
| Q2 25 | 1.7% | 1.4% | ||
| Q1 25 | 1.2% | 1.3% | ||
| Q4 24 | 2.1% | 1.1% | ||
| Q3 24 | 1.1% | 1.3% | ||
| Q2 24 | 1.8% | 1.3% | ||
| Q1 24 | 0.8% | 1.0% |
| Q4 25 | 1.12× | 1.91× | ||
| Q3 25 | 0.51× | 1.34× | ||
| Q2 25 | 1.42× | 0.86× | ||
| Q1 25 | 3.64× | 0.90× | ||
| Q4 24 | -3.62× | 1.85× | ||
| Q3 24 | -2.65× | 1.14× | ||
| Q2 24 | 10.64× | 1.24× | ||
| Q1 24 | 4.27× | 1.43× |
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% |
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
