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Side-by-side financial comparison of Cboe Global Markets (CBOE) and Zoetis (ZTS). Click either name above to swap in a different company.
Zoetis is the larger business by last-quarter revenue ($2.3B vs $1.3B, roughly 1.8× Cboe Global Markets). Cboe Global Markets runs the higher net margin — 30.3% vs 26.6%, a 3.7% gap on every dollar of revenue. On growth, Cboe Global Markets posted the faster year-over-year revenue change (6.5% vs 2.9%). Over the past eight quarters, Cboe Global Markets's revenue compounded faster (14.3% CAGR vs -2.1%).
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.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
CBOE vs ZTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $2.3B |
| Net Profit | $385.7M | $601.0M |
| Gross Margin | 57.3% | 71.7% |
| Operating Margin | 39.7% | — |
| Net Margin | 30.3% | 26.6% |
| Revenue YoY | 6.5% | 2.9% |
| Net Profit YoY | 53.9% | -0.2% |
| EPS (diluted) | $3.66 | $1.42 |
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.
| Q1 26 | $1.3B | $2.3B | ||
| Q4 25 | $1.2B | $2.4B | ||
| Q3 25 | $1.1B | $2.4B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.2B | $2.2B | ||
| Q4 24 | $1.1B | $2.3B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $974.0M | $2.4B |
| Q1 26 | $385.7M | $601.0M | ||
| Q4 25 | $313.5M | $603.0M | ||
| Q3 25 | $300.8M | $721.0M | ||
| Q2 25 | $235.1M | $718.0M | ||
| Q1 25 | $250.6M | $631.0M | ||
| Q4 24 | $196.5M | $581.0M | ||
| Q3 24 | $218.5M | $682.0M | ||
| Q2 24 | $140.4M | $624.0M |
| Q1 26 | 57.3% | 71.7% | ||
| Q4 25 | 55.7% | 70.2% | ||
| Q3 25 | 53.0% | 71.5% | ||
| Q2 25 | 50.0% | 73.6% | ||
| Q1 25 | 47.3% | 72.0% | ||
| Q4 24 | 47.4% | 69.5% | ||
| Q3 24 | 50.4% | 70.6% | ||
| Q2 24 | 52.8% | 71.7% |
| Q1 26 | 39.7% | — | ||
| Q4 25 | 33.5% | 31.9% | ||
| Q3 25 | 32.4% | 37.0% | ||
| Q2 25 | 28.9% | 36.7% | ||
| Q1 25 | 29.6% | 36.5% | ||
| Q4 24 | 27.0% | 31.6% | ||
| Q3 24 | 29.1% | 36.6% | ||
| Q2 24 | 21.6% | 33.0% |
| Q1 26 | 30.3% | 26.6% | ||
| Q4 25 | 26.0% | 25.3% | ||
| Q3 25 | 26.3% | 30.0% | ||
| Q2 25 | 20.0% | 29.2% | ||
| Q1 25 | 21.0% | 28.4% | ||
| Q4 24 | 17.7% | 25.1% | ||
| Q3 24 | 20.7% | 28.6% | ||
| Q2 24 | 14.4% | 26.4% |
| Q1 26 | $3.66 | $1.42 | ||
| Q4 25 | $2.97 | $1.37 | ||
| Q3 25 | $2.85 | $1.63 | ||
| Q2 25 | $2.23 | $1.61 | ||
| Q1 25 | $2.37 | $1.41 | ||
| Q4 24 | $1.85 | $1.29 | ||
| Q3 24 | $2.07 | $1.50 | ||
| Q2 24 | $1.33 | $1.37 |
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 | — |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $5.4B | — |
| Total Assets | $11.1B | — |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $763.2M | $1.7B | ||
| Q2 24 | $698.3M | $1.6B |
| 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 | $3.3B | ||
| Q3 25 | $4.9B | $5.4B | ||
| Q2 25 | $4.7B | $5.0B | ||
| Q1 25 | $4.5B | $4.7B | ||
| Q4 24 | $4.3B | $4.8B | ||
| Q3 24 | $4.2B | $5.2B | ||
| Q2 24 | $4.0B | $5.0B |
| Q1 26 | $11.1B | — | ||
| Q4 25 | $9.3B | $15.5B | ||
| Q3 25 | $9.1B | $15.2B | ||
| Q2 25 | $9.0B | $14.5B | ||
| Q1 25 | $8.7B | $14.1B | ||
| Q4 24 | $7.8B | $14.2B | ||
| Q3 24 | $8.7B | $14.4B | ||
| Q2 24 | $9.3B | $14.2B |
| 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× | — |
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% |
ZTS
| Companion Animal | $1.5B | 67% |
| Livestock | $720.0M | 32% |
| Contract Manufacturing & Human Health | $23.0M | 1% |
