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Side-by-side financial comparison of Cboe Global Markets (CBOE) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
Cboe Global Markets is the larger business by last-quarter revenue ($1.3B vs $909.4M, roughly 1.4× Nextpower Inc.). Cboe Global Markets runs the higher net margin — 30.3% vs 14.4%, a 15.9% gap on every dollar of revenue. On growth, Nextpower Inc. posted the faster year-over-year revenue change (33.9% vs 6.5%). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (14.3% CAGR vs 11.1%).
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.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
CBOE vs NXT — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $909.4M |
| Net Profit | $385.7M | $131.2M |
| Gross Margin | 57.3% | 31.7% |
| Operating Margin | 39.7% | 19.4% |
| Net Margin | 30.3% | 14.4% |
| Revenue YoY | 6.5% | 33.9% |
| Net Profit YoY | 53.9% | 13.8% |
| EPS (diluted) | $3.66 | $0.85 |
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 | $909.4M | ||
| Q3 25 | $1.1B | $905.3M | ||
| Q2 25 | $1.2B | $864.3M | ||
| Q1 25 | $1.2B | $924.3M | ||
| Q4 24 | $1.1B | $679.4M | ||
| Q3 24 | $1.1B | $635.6M | ||
| Q2 24 | $974.0M | $719.9M |
| Q1 26 | $385.7M | — | ||
| Q4 25 | $313.5M | $131.2M | ||
| Q3 25 | $300.8M | $146.9M | ||
| Q2 25 | $235.1M | $157.2M | ||
| Q1 25 | $250.6M | $156.8M | ||
| Q4 24 | $196.5M | $115.3M | ||
| Q3 24 | $218.5M | $115.4M | ||
| Q2 24 | $140.4M | $121.7M |
| Q1 26 | 57.3% | — | ||
| Q4 25 | 55.7% | 31.7% | ||
| Q3 25 | 53.0% | 32.4% | ||
| Q2 25 | 50.0% | 32.6% | ||
| Q1 25 | 47.3% | 33.1% | ||
| Q4 24 | 47.4% | 35.5% | ||
| Q3 24 | 50.4% | 35.4% | ||
| Q2 24 | 52.8% | 33.0% |
| Q1 26 | 39.7% | — | ||
| Q4 25 | 33.5% | 19.4% | ||
| Q3 25 | 32.4% | 20.0% | ||
| Q2 25 | 28.9% | 21.5% | ||
| Q1 25 | 29.6% | 21.1% | ||
| Q4 24 | 27.0% | 22.1% | ||
| Q3 24 | 29.1% | 21.0% | ||
| Q2 24 | 21.6% | 22.2% |
| Q1 26 | 30.3% | — | ||
| Q4 25 | 26.0% | 14.4% | ||
| Q3 25 | 26.3% | 16.2% | ||
| Q2 25 | 20.0% | 18.2% | ||
| Q1 25 | 21.0% | 17.0% | ||
| Q4 24 | 17.7% | 17.0% | ||
| Q3 24 | 20.7% | 18.2% | ||
| Q2 24 | 14.4% | 16.9% |
| Q1 26 | $3.66 | — | ||
| Q4 25 | $2.97 | $0.85 | ||
| Q3 25 | $2.85 | $0.97 | ||
| Q2 25 | $2.23 | $1.04 | ||
| Q1 25 | $2.37 | $1.05 | ||
| Q4 24 | $1.85 | $0.79 | ||
| Q3 24 | $2.07 | $0.79 | ||
| Q2 24 | $1.33 | $0.84 |
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 | $952.6M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $5.4B | $2.2B |
| Total Assets | $11.1B | $3.8B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.3B | $952.6M | ||
| Q3 25 | $1.5B | $845.3M | ||
| Q2 25 | $1.5B | $743.4M | ||
| Q1 25 | $1.2B | $766.1M | ||
| Q4 24 | $1.0B | $693.5M | ||
| Q3 24 | $763.2M | $561.9M | ||
| Q2 24 | $698.3M | $471.9M |
| 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 | — | ||
| Q4 25 | $5.1B | $2.2B | ||
| Q3 25 | $4.9B | $2.0B | ||
| Q2 25 | $4.7B | $1.8B | ||
| Q1 25 | $4.5B | $1.6B | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | $4.2B | $1.3B | ||
| Q2 24 | $4.0B | $1.1B |
| Q1 26 | $11.1B | — | ||
| Q4 25 | $9.3B | $3.8B | ||
| Q3 25 | $9.1B | $3.7B | ||
| Q2 25 | $9.0B | $3.4B | ||
| Q1 25 | $8.7B | $3.2B | ||
| Q4 24 | $7.8B | $3.0B | ||
| Q3 24 | $8.7B | $2.8B | ||
| Q2 24 | $9.3B | $2.6B |
| 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 | — | $123.3M |
| Free Cash FlowOCF − Capex | — | $118.5M |
| FCF MarginFCF / Revenue | — | 13.0% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $352.1M | $123.3M | ||
| Q3 25 | $153.9M | $186.9M | ||
| Q2 25 | $333.7M | $81.3M | ||
| Q1 25 | $912.9M | $237.3M | ||
| Q4 24 | $-710.4M | $143.8M | ||
| Q3 24 | $-578.5M | $153.8M | ||
| Q2 24 | $1.5B | $120.8M |
| Q1 26 | — | — | ||
| Q4 25 | $332.1M | $118.5M | ||
| Q3 25 | $137.9M | $171.4M | ||
| Q2 25 | $313.4M | $70.1M | ||
| Q1 25 | $898.2M | $227.2M | ||
| Q4 24 | $-734.2M | $134.9M | ||
| Q3 24 | $-590.5M | $141.8M | ||
| Q2 24 | $1.5B | $118.0M |
| Q1 26 | — | — | ||
| Q4 25 | 27.6% | 13.0% | ||
| Q3 25 | 12.1% | 18.9% | ||
| Q2 25 | 26.7% | 8.1% | ||
| Q1 25 | 75.2% | 24.6% | ||
| Q4 24 | -66.3% | 19.9% | ||
| Q3 24 | -55.9% | 22.3% | ||
| Q2 24 | 151.6% | 16.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 0.5% | ||
| Q3 25 | 1.4% | 1.7% | ||
| Q2 25 | 1.7% | 1.3% | ||
| Q1 25 | 1.2% | 1.1% | ||
| Q4 24 | 2.1% | 1.3% | ||
| Q3 24 | 1.1% | 1.9% | ||
| Q2 24 | 1.8% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.12× | 0.94× | ||
| Q3 25 | 0.51× | 1.27× | ||
| Q2 25 | 1.42× | 0.52× | ||
| Q1 25 | 3.64× | 1.51× | ||
| Q4 24 | -3.62× | 1.25× | ||
| Q3 24 | -2.65× | 1.33× | ||
| Q2 24 | 10.64× | 0.99× |
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% |
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
