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Side-by-side financial comparison of Cboe Global Markets (CBOE) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.2B vs $1.1B, roughly 1.0× M/I HOMES, INC.). Cboe Global Markets runs the higher net margin — 26.0% vs 5.6%, a 20.5% gap on every dollar of revenue. On growth, Cboe Global Markets posted the faster year-over-year revenue change (8.7% vs -4.8%). Cboe Global Markets produced more free cash flow last quarter ($332.1M vs $-13.0M). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (12.2% CAGR vs 4.7%).
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.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
CBOE vs MHO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.1B |
| Net Profit | $313.5M | $64.0M |
| Gross Margin | 55.7% | 17.4% |
| Operating Margin | 33.5% | 6.5% |
| Net Margin | 26.0% | 5.6% |
| Revenue YoY | 8.7% | -4.8% |
| Net Profit YoY | 59.5% | -52.1% |
| EPS (diluted) | $2.97 | $2.42 |
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 | $1.1B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $976.1M | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $974.0M | $1.1B | ||
| Q1 24 | $957.2M | $1.0B |
| Q4 25 | $313.5M | $64.0M | ||
| Q3 25 | $300.8M | $106.5M | ||
| Q2 25 | $235.1M | $121.2M | ||
| Q1 25 | $250.6M | $111.2M | ||
| Q4 24 | $196.5M | $133.5M | ||
| Q3 24 | $218.5M | $145.4M | ||
| Q2 24 | $140.4M | $146.7M | ||
| Q1 24 | $209.5M | $138.1M |
| Q4 25 | 55.7% | 17.4% | ||
| Q3 25 | 53.0% | 24.5% | ||
| Q2 25 | 50.0% | 24.7% | ||
| Q1 25 | 47.3% | 25.9% | ||
| Q4 24 | 47.4% | 24.6% | ||
| Q3 24 | 50.4% | 27.1% | ||
| Q2 24 | 52.8% | 27.9% | ||
| Q1 24 | 52.5% | 27.1% |
| Q4 25 | 33.5% | 6.5% | ||
| Q3 25 | 32.4% | 12.0% | ||
| Q2 25 | 28.9% | 13.4% | ||
| Q1 25 | 29.6% | 14.4% | ||
| Q4 24 | 27.0% | 13.6% | ||
| Q3 24 | 29.1% | 15.9% | ||
| Q2 24 | 21.6% | 16.8% | ||
| Q1 24 | 29.5% | 16.6% |
| Q4 25 | 26.0% | 5.6% | ||
| Q3 25 | 26.3% | 9.4% | ||
| Q2 25 | 20.0% | 10.4% | ||
| Q1 25 | 21.0% | 11.4% | ||
| Q4 24 | 17.7% | 11.1% | ||
| Q3 24 | 20.7% | 12.7% | ||
| Q2 24 | 14.4% | 13.2% | ||
| Q1 24 | 21.9% | 13.2% |
| Q4 25 | $2.97 | $2.42 | ||
| Q3 25 | $2.85 | $3.92 | ||
| Q2 25 | $2.23 | $4.42 | ||
| Q1 25 | $2.37 | $3.98 | ||
| Q4 24 | $1.85 | $4.71 | ||
| Q3 24 | $2.07 | $5.10 | ||
| Q2 24 | $1.33 | $5.12 | ||
| Q1 24 | $1.96 | $4.78 |
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 | — |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $5.1B | $3.2B |
| Total Assets | $9.3B | $4.8B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $763.2M | — | ||
| Q2 24 | $698.3M | — | ||
| Q1 24 | $595.1M | — |
| 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 | $3.2B | ||
| Q3 25 | $4.9B | $3.1B | ||
| Q2 25 | $4.7B | $3.1B | ||
| Q1 25 | $4.5B | $3.0B | ||
| Q4 24 | $4.3B | $2.9B | ||
| Q3 24 | $4.2B | $2.8B | ||
| Q2 24 | $4.0B | $2.7B | ||
| Q1 24 | $4.0B | $2.6B |
| Q4 25 | $9.3B | $4.8B | ||
| Q3 25 | $9.1B | $4.8B | ||
| Q2 25 | $9.0B | $4.7B | ||
| Q1 25 | $8.7B | $4.6B | ||
| Q4 24 | $7.8B | $4.5B | ||
| Q3 24 | $8.7B | $4.5B | ||
| Q2 24 | $9.3B | $4.3B | ||
| Q1 24 | $8.2B | $4.2B |
| 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 | $-8.7M |
| Free Cash FlowOCF − Capex | $332.1M | $-13.0M |
| FCF MarginFCF / Revenue | 27.6% | -1.1% |
| Capex IntensityCapex / Revenue | 1.7% | 0.4% |
| Cash ConversionOCF / Net Profit | 1.12× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7B | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $352.1M | $-8.7M | ||
| Q3 25 | $153.9M | $43.4M | ||
| Q2 25 | $333.7M | $37.8M | ||
| Q1 25 | $912.9M | $64.9M | ||
| Q4 24 | $-710.4M | $104.4M | ||
| Q3 24 | $-578.5M | $-67.9M | ||
| Q2 24 | $1.5B | $27.5M | ||
| Q1 24 | $895.6M | $115.8M |
| Q4 25 | $332.1M | $-13.0M | ||
| Q3 25 | $137.9M | $42.0M | ||
| Q2 25 | $313.4M | $35.1M | ||
| Q1 25 | $898.2M | $63.5M | ||
| Q4 24 | $-734.2M | $102.3M | ||
| Q3 24 | $-590.5M | $-68.5M | ||
| Q2 24 | $1.5B | $22.0M | ||
| Q1 24 | $888.3M | $115.5M |
| Q4 25 | 27.6% | -1.1% | ||
| Q3 25 | 12.1% | 3.7% | ||
| Q2 25 | 26.7% | 3.0% | ||
| Q1 25 | 75.2% | 6.5% | ||
| Q4 24 | -66.3% | 8.5% | ||
| Q3 24 | -55.9% | -6.0% | ||
| Q2 24 | 151.6% | 2.0% | ||
| Q1 24 | 92.8% | 11.0% |
| Q4 25 | 1.7% | 0.4% | ||
| Q3 25 | 1.4% | 0.1% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 1.2% | 0.1% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 1.1% | 0.1% | ||
| Q2 24 | 1.8% | 0.5% | ||
| Q1 24 | 0.8% | 0.0% |
| Q4 25 | 1.12× | -0.14× | ||
| Q3 25 | 0.51× | 0.41× | ||
| Q2 25 | 1.42× | 0.31× | ||
| Q1 25 | 3.64× | 0.58× | ||
| Q4 24 | -3.62× | 0.78× | ||
| Q3 24 | -2.65× | -0.47× | ||
| Q2 24 | 10.64× | 0.19× | ||
| Q1 24 | 4.27× | 0.84× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
