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Side-by-side financial comparison of Cboe Global Markets (CBOE) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $1.3B, roughly 1.1× Cboe Global Markets). Cboe Global Markets runs the higher net margin — 30.3% vs 3.1%, a 27.2% gap on every dollar of revenue. On growth, Cboe Global Markets posted the faster year-over-year revenue change (6.5% vs 2.6%). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (14.3% CAGR vs 2.7%).
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.
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
CBOE vs SEE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.4B |
| Net Profit | $385.7M | $43.8M |
| Gross Margin | 57.3% | 28.6% |
| Operating Margin | 39.7% | 11.4% |
| Net Margin | 30.3% | 3.1% |
| Revenue YoY | 6.5% | 2.6% |
| Net Profit YoY | 53.9% | 700.0% |
| EPS (diluted) | $3.66 | $0.30 |
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 | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $974.0M | $1.3B |
| Q1 26 | $385.7M | — | ||
| Q4 25 | $313.5M | $43.8M | ||
| Q3 25 | $300.8M | $255.1M | ||
| Q2 25 | $235.1M | $93.1M | ||
| Q1 25 | $250.6M | $113.5M | ||
| Q4 24 | $196.5M | $-7.3M | ||
| Q3 24 | $218.5M | $91.7M | ||
| Q2 24 | $140.4M | $98.3M |
| Q1 26 | 57.3% | — | ||
| Q4 25 | 55.7% | 28.6% | ||
| Q3 25 | 53.0% | 29.8% | ||
| Q2 25 | 50.0% | 30.7% | ||
| Q1 25 | 47.3% | 30.9% | ||
| Q4 24 | 47.4% | 30.0% | ||
| Q3 24 | 50.4% | 30.1% | ||
| Q2 24 | 52.8% | 31.2% |
| Q1 26 | 39.7% | — | ||
| Q4 25 | 33.5% | 11.4% | ||
| Q3 25 | 32.4% | 13.8% | ||
| Q2 25 | 28.9% | 15.0% | ||
| Q1 25 | 29.6% | 14.5% | ||
| Q4 24 | 27.0% | 11.7% | ||
| Q3 24 | 29.1% | 13.9% | ||
| Q2 24 | 21.6% | 15.4% |
| Q1 26 | 30.3% | — | ||
| Q4 25 | 26.0% | 3.1% | ||
| Q3 25 | 26.3% | 19.0% | ||
| Q2 25 | 20.0% | 7.0% | ||
| Q1 25 | 21.0% | 9.0% | ||
| Q4 24 | 17.7% | -0.5% | ||
| Q3 24 | 20.7% | 6.9% | ||
| Q2 24 | 14.4% | 7.4% |
| Q1 26 | $3.66 | — | ||
| Q4 25 | $2.97 | $0.30 | ||
| Q3 25 | $2.85 | $1.73 | ||
| Q2 25 | $2.23 | $0.63 | ||
| Q1 25 | $2.37 | $0.77 | ||
| Q4 24 | $1.85 | $-0.05 | ||
| Q3 24 | $2.07 | $0.63 | ||
| Q2 24 | $1.33 | $0.67 |
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 | $344.0M |
| Total DebtLower is stronger | $1.4B | $3.3B |
| Stockholders' EquityBook value | $5.4B | $1.2B |
| Total Assets | $11.1B | $7.0B |
| Debt / EquityLower = less leverage | 0.27× | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.3B | $344.0M | ||
| Q3 25 | $1.5B | $282.5M | ||
| Q2 25 | $1.5B | $354.4M | ||
| Q1 25 | $1.2B | $335.2M | ||
| Q4 24 | $1.0B | $371.8M | ||
| Q3 24 | $763.2M | $386.0M | ||
| Q2 24 | $698.3M | $388.6M |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $3.3B | ||
| Q3 25 | $1.4B | $4.0B | ||
| Q2 25 | $1.4B | $4.0B | ||
| Q1 25 | $1.4B | $4.2B | ||
| Q4 24 | $1.4B | $4.2B | ||
| Q3 24 | $1.4B | $4.3B | ||
| Q2 24 | $1.4B | $4.4B |
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.1B | $1.2B | ||
| Q3 25 | $4.9B | $1.2B | ||
| Q2 25 | $4.7B | $953.1M | ||
| Q1 25 | $4.5B | $797.9M | ||
| Q4 24 | $4.3B | $624.5M | ||
| Q3 24 | $4.2B | $771.2M | ||
| Q2 24 | $4.0B | $650.1M |
| Q1 26 | $11.1B | — | ||
| Q4 25 | $9.3B | $7.0B | ||
| Q3 25 | $9.1B | $7.1B | ||
| Q2 25 | $9.0B | $7.2B | ||
| Q1 25 | $8.7B | $7.0B | ||
| Q4 24 | $7.8B | $7.0B | ||
| Q3 24 | $8.7B | $7.3B | ||
| Q2 24 | $9.3B | $7.3B |
| Q1 26 | 0.27× | — | ||
| Q4 25 | 0.28× | 2.65× | ||
| Q3 25 | 0.30× | 3.34× | ||
| Q2 25 | 0.31× | 4.18× | ||
| Q1 25 | 0.32× | 5.26× | ||
| Q4 24 | 0.34× | 6.72× | ||
| Q3 24 | 0.34× | 5.62× | ||
| Q2 24 | 0.36× | 6.81× |
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 | — | $293.6M |
| Free Cash FlowOCF − Capex | — | $257.7M |
| FCF MarginFCF / Revenue | — | 18.5% |
| Capex IntensityCapex / Revenue | — | 2.6% |
| Cash ConversionOCF / Net Profit | — | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $352.1M | $293.6M | ||
| Q3 25 | $153.9M | $165.9M | ||
| Q2 25 | $333.7M | $136.6M | ||
| Q1 25 | $912.9M | $31.9M | ||
| Q4 24 | $-710.4M | $244.2M | ||
| Q3 24 | $-578.5M | $170.5M | ||
| Q2 24 | $1.5B | $188.2M |
| Q1 26 | — | — | ||
| Q4 25 | $332.1M | $257.7M | ||
| Q3 25 | $137.9M | $119.6M | ||
| Q2 25 | $313.4M | $93.2M | ||
| Q1 25 | $898.2M | $-12.0M | ||
| Q4 24 | $-734.2M | $185.1M | ||
| Q3 24 | $-590.5M | $115.2M | ||
| Q2 24 | $1.5B | $129.5M |
| Q1 26 | — | — | ||
| Q4 25 | 27.6% | 18.5% | ||
| Q3 25 | 12.1% | 8.9% | ||
| Q2 25 | 26.7% | 7.0% | ||
| Q1 25 | 75.2% | -0.9% | ||
| Q4 24 | -66.3% | 13.6% | ||
| Q3 24 | -55.9% | 8.6% | ||
| Q2 24 | 151.6% | 9.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 2.6% | ||
| Q3 25 | 1.4% | 3.4% | ||
| Q2 25 | 1.7% | 3.3% | ||
| Q1 25 | 1.2% | 3.5% | ||
| Q4 24 | 2.1% | 4.4% | ||
| Q3 24 | 1.1% | 4.1% | ||
| Q2 24 | 1.8% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.12× | 6.70× | ||
| Q3 25 | 0.51× | 0.65× | ||
| Q2 25 | 1.42× | 1.47× | ||
| Q1 25 | 3.64× | 0.28× | ||
| Q4 24 | -3.62× | — | ||
| Q3 24 | -2.65× | 1.86× | ||
| Q2 24 | 10.64× | 1.91× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
