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Cboe Global Markets（CBOE）与Iron Mountain（IRM）财务数据对比。点击上方公司名可切换其他公司
Iron Mountain的季度营收约是Cboe Global Markets的1.5倍（$1.8B vs $1.2B），Cboe Global Markets净利率更高（26.0% vs 5.1%，领先21.0%），Iron Mountain同比增速更快（16.6% vs 8.7%），Cboe Global Markets自由现金流更多（$332.1M vs $-16.2M），过去两年Cboe Global Markets的营收复合增速更高（12.2% vs 11.7%）
Cboe Global Markets是总部位于美国芝加哥的金融交易所运营集团，旗下拥有并运营多类交易所及交易场所，业务覆盖股票、期权、期货、数字资产等多个交易领域，为全球市场参与者提供专业交易服务支持。
Iron Mountain是1951年成立的美国企业信息管理服务提供商，总部位于新罕布什尔州朴茨茅斯。核心业务涵盖档案管理、信息销毁、数据备份与恢复，服务覆盖全球六大洲58个国家，为超过22万客户提供专业解决方案。
CBOE vs IRM — 直观对比
营收规模更大
IRM
是对方的1.5倍
$1.2B
营收增速更快
IRM
高出7.9%
8.7%
净利率更高
CBOE
高出21.0%
5.1%
自由现金流更多
CBOE
多$348.3M
$-16.2M
两年增速更快
CBOE
近两年复合增速
11.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.8B |
| 净利润 | $313.5M | $93.1M |
| 毛利率 | 55.7% | — |
| 营业利润率 | 33.5% | 18.5% |
| 净利率 | 26.0% | 5.1% |
| 营收同比 | 8.7% | 16.6% |
| 净利润同比 | 59.5% | -11.9% |
| 每股收益（稀释后） | $2.97 | $0.31 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CBOEIRM
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.2B | $1.6B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $974.0M | $1.5B | ||
| Q1 24 | $957.2M | $1.5B |
净利润CBOEIRM
| Q4 25 | $313.5M | $93.1M | ||
| Q3 25 | $300.8M | $86.2M | ||
| Q2 25 | $235.1M | $-43.3M | ||
| Q1 25 | $250.6M | $16.2M | ||
| Q4 24 | $196.5M | $105.7M | ||
| Q3 24 | $218.5M | $-33.7M | ||
| Q2 24 | $140.4M | $34.6M | ||
| Q1 24 | $209.5M | $77.0M |
毛利率CBOEIRM
| Q4 25 | 55.7% | — | ||
| Q3 25 | 53.0% | — | ||
| Q2 25 | 50.0% | — | ||
| Q1 25 | 47.3% | — | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 50.4% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 52.5% | — |
营业利润率CBOEIRM
| Q4 25 | 33.5% | 18.5% | ||
| Q3 25 | 32.4% | 17.6% | ||
| Q2 25 | 28.9% | 15.2% | ||
| Q1 25 | 29.6% | 16.0% | ||
| Q4 24 | 27.0% | 17.9% | ||
| Q3 24 | 29.1% | 16.1% | ||
| Q2 24 | 21.6% | 15.0% | ||
| Q1 24 | 29.5% | 16.6% |
净利率CBOEIRM
| Q4 25 | 26.0% | 5.1% | ||
| Q3 25 | 26.3% | 4.9% | ||
| Q2 25 | 20.0% | -2.5% | ||
| Q1 25 | 21.0% | 1.0% | ||
| Q4 24 | 17.7% | 6.7% | ||
| Q3 24 | 20.7% | -2.2% | ||
| Q2 24 | 14.4% | 2.3% | ||
| Q1 24 | 21.9% | 5.2% |
每股收益（稀释后）CBOEIRM
| Q4 25 | $2.97 | $0.31 | ||
| Q3 25 | $2.85 | $0.28 | ||
| Q2 25 | $2.23 | $-0.15 | ||
| Q1 25 | $2.37 | $0.05 | ||
| Q4 24 | $1.85 | $0.35 | ||
| Q3 24 | $2.07 | $-0.11 | ||
| Q2 24 | $1.33 | $0.12 | ||
| Q1 24 | $1.96 | $0.25 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.3B | $158.5M |
| 总债务越低越好 | $1.4B | $16.2B |
| 股东权益账面价值 | $5.1B | $-981.0M |
| 总资产 | $9.3B | $21.1B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资CBOEIRM
| Q4 25 | $2.3B | $158.5M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.0B | $155.7M | ||
| Q3 24 | $763.2M | — | ||
| Q2 24 | $698.3M | — | ||
| Q1 24 | $595.1M | — |
总债务CBOEIRM
| Q4 25 | $1.4B | $16.2B | ||
| Q3 25 | $1.4B | $15.5B | ||
| Q2 25 | $1.4B | $14.8B | ||
| Q1 25 | $1.4B | $14.2B | ||
| Q4 24 | $1.4B | $13.0B | ||
| Q3 24 | $1.4B | $13.2B | ||
| Q2 24 | $1.4B | $12.8B | ||
| Q1 24 | $1.4B | $12.6B |
股东权益CBOEIRM
| Q4 25 | $5.1B | $-981.0M | ||
| Q3 25 | $4.9B | $-882.0M | ||
| Q2 25 | $4.7B | $-767.4M | ||
| Q1 25 | $4.5B | $-698.5M | ||
| Q4 24 | $4.3B | $-503.1M | ||
| Q3 24 | $4.2B | $-259.0M | ||
| Q2 24 | $4.0B | $-132.9M | ||
| Q1 24 | $4.0B | $18.5M |
总资产CBOEIRM
| Q4 25 | $9.3B | $21.1B | ||
| Q3 25 | $9.1B | $20.6B | ||
| Q2 25 | $9.0B | $20.2B | ||
| Q1 25 | $8.7B | $19.4B | ||
| Q4 24 | $7.8B | $18.7B | ||
| Q3 24 | $8.7B | $18.5B | ||
| Q2 24 | $9.3B | $18.0B | ||
| Q1 24 | $8.2B | $17.8B |
负债/权益比CBOEIRM
| 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× | 679.18× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $352.1M | $500.0M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | $-16.2M |
| 自由现金流率自由现金流/营收 | 27.6% | -0.9% |
| 资本支出强度资本支出/营收 | 1.7% | 28.0% |
| 现金转化率经营现金流/净利润 | 1.12× | 5.37× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $-931.6M |
8季度趋势，按日历期对齐
经营现金流CBOEIRM
| Q4 25 | $352.1M | $500.0M | ||
| Q3 25 | $153.9M | $267.6M | ||
| Q2 25 | $333.7M | $375.1M | ||
| Q1 25 | $912.9M | $197.3M | ||
| Q4 24 | $-710.4M | $431.6M | ||
| Q3 24 | $-578.5M | $252.9M | ||
| Q2 24 | $1.5B | $382.2M | ||
| Q1 24 | $895.6M | $130.0M |
自由现金流CBOEIRM
| Q4 25 | $332.1M | $-16.2M | ||
| Q3 25 | $137.9M | $-256.3M | ||
| Q2 25 | $313.4M | $-181.6M | ||
| Q1 25 | $898.2M | $-477.5M | ||
| Q4 24 | $-734.2M | $-186.0M | ||
| Q3 24 | $-590.5M | $-143.2M | ||
| Q2 24 | $1.5B | $-14.6M | ||
| Q1 24 | $888.3M | $-251.1M |
自由现金流率CBOEIRM
| Q4 25 | 27.6% | -0.9% | ||
| Q3 25 | 12.1% | -14.6% | ||
| Q2 25 | 26.7% | -10.6% | ||
| Q1 25 | 75.2% | -30.0% | ||
| Q4 24 | -66.3% | -11.8% | ||
| Q3 24 | -55.9% | -9.2% | ||
| Q2 24 | 151.6% | -1.0% | ||
| Q1 24 | 92.8% | -17.0% |
资本支出强度CBOEIRM
| Q4 25 | 1.7% | 28.0% | ||
| Q3 25 | 1.4% | 29.9% | ||
| Q2 25 | 1.7% | 32.5% | ||
| Q1 25 | 1.2% | 42.4% | ||
| Q4 24 | 2.1% | 39.1% | ||
| Q3 24 | 1.1% | 25.4% | ||
| Q2 24 | 1.8% | 25.9% | ||
| Q1 24 | 0.8% | 25.8% |
现金转化率CBOEIRM
| Q4 25 | 1.12× | 5.37× | ||
| Q3 25 | 0.51× | 3.10× | ||
| Q2 25 | 1.42× | — | ||
| Q1 25 | 3.64× | 12.15× | ||
| Q4 24 | -3.62× | 4.08× | ||
| Q3 24 | -2.65× | — | ||
| Q2 24 | 10.64× | 11.04× | ||
| Q1 24 | 4.27× | 1.69× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
IRM
| Storage Rental | $1.1B | 58% |
| Services | $781.9M | 42% |
