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Cboe Global Markets（CBOE）与怪兽饮料（MNST）财务数据对比。点击上方公司名可切换其他公司
怪兽饮料的季度营收约是Cboe Global Markets的1.8倍（$2.1B vs $1.2B），Cboe Global Markets净利率更高（26.0% vs 21.1%，领先5.0%），怪兽饮料同比增速更快（17.6% vs 8.7%），怪兽饮料自由现金流更多（$351.2M vs $332.1M），过去两年Cboe Global Markets的营收复合增速更高（12.2% vs 5.9%）
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。
怪兽饮料是美国知名饮品企业，旗下拥有魔爪、Relentless、Reign、Burn等多款畅销能量饮料产品。公司1935年创立于美国南加州，前身为Hansen's，最初主营果汁产品，2012年正式更为现名。
CBOE vs MNST — 直观对比
营收规模更大
MNST
是对方的1.8倍
$1.2B
营收增速更快
MNST
高出8.9%
8.7%
净利率更高
CBOE
高出5.0%
21.1%
自由现金流更多
MNST
多$19.1M
$332.1M
两年增速更快
CBOE
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.1B |
| 净利润 | $313.5M | $449.2M |
| 毛利率 | 55.7% | 55.5% |
| 营业利润率 | 33.5% | 25.5% |
| 净利率 | 26.0% | 21.1% |
| 营收同比 | 8.7% | 17.6% |
| 净利润同比 | 59.5% | 65.9% |
| 每股收益（稀释后） | $2.97 | — |
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CBOEMNST
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $1.9B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | $1.9B | ||
| Q2 24 | $974.0M | $1.9B | ||
| Q1 24 | $957.2M | $1.9B |
净利润CBOEMNST
| Q4 25 | $313.5M | $449.2M | ||
| Q3 25 | $300.8M | $524.5M | ||
| Q2 25 | $235.1M | $488.8M | ||
| Q1 25 | $250.6M | $443.0M | ||
| Q4 24 | $196.5M | $270.7M | ||
| Q3 24 | $218.5M | $370.9M | ||
| Q2 24 | $140.4M | $425.4M | ||
| Q1 24 | $209.5M | $442.0M |
毛利率CBOEMNST
| Q4 25 | 55.7% | 55.5% | ||
| Q3 25 | 53.0% | 55.7% | ||
| Q2 25 | 50.0% | 55.7% | ||
| Q1 25 | 47.3% | 56.5% | ||
| Q4 24 | 47.4% | 55.3% | ||
| Q3 24 | 50.4% | 53.2% | ||
| Q2 24 | 52.8% | 53.6% | ||
| Q1 24 | 52.5% | 54.1% |
营业利润率CBOEMNST
| Q4 25 | 33.5% | 25.5% | ||
| Q3 25 | 32.4% | 30.7% | ||
| Q2 25 | 28.9% | 29.9% | ||
| Q1 25 | 29.6% | 30.7% | ||
| Q4 24 | 27.0% | 21.0% | ||
| Q3 24 | 29.1% | 25.5% | ||
| Q2 24 | 21.6% | 27.7% | ||
| Q1 24 | 29.5% | 28.5% |
净利率CBOEMNST
| Q4 25 | 26.0% | 21.1% | ||
| Q3 25 | 26.3% | 23.9% | ||
| Q2 25 | 20.0% | 23.1% | ||
| Q1 25 | 21.0% | 23.9% | ||
| Q4 24 | 17.7% | 14.9% | ||
| Q3 24 | 20.7% | 19.7% | ||
| Q2 24 | 14.4% | 22.4% | ||
| Q1 24 | 21.9% | 23.3% |
每股收益（稀释后）CBOEMNST
| Q4 25 | $2.97 | — | ||
| Q3 25 | $2.85 | — | ||
| Q2 25 | $2.23 | — | ||
| Q1 25 | $2.37 | — | ||
| Q4 24 | $1.85 | — | ||
| Q3 24 | $2.07 | — | ||
| Q2 24 | $1.33 | — | ||
| Q1 24 | $1.96 | — |
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 | $2.8B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $5.1B | $8.3B |
| 总资产 | $9.3B | $10.0B |
| 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CBOEMNST
| Q4 25 | $2.3B | $2.8B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.2B | $1.9B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $763.2M | $1.6B | ||
| Q2 24 | $698.3M | $1.6B | ||
| Q1 24 | $595.1M | $3.6B |
总债务CBOEMNST
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | $199.1M | ||
| Q4 24 | $1.4B | $374.0M | ||
| Q3 24 | $1.4B | $748.8M | ||
| Q2 24 | $1.4B | $748.7M | ||
| Q1 24 | $1.4B | — |
股东权益CBOEMNST
| Q4 25 | $5.1B | $8.3B | ||
| Q3 25 | $4.9B | $7.7B | ||
| Q2 25 | $4.7B | $7.2B | ||
| Q1 25 | $4.5B | $6.5B | ||
| Q4 24 | $4.3B | $6.0B | ||
| Q3 24 | $4.2B | $5.8B | ||
| Q2 24 | $4.0B | $5.9B | ||
| Q1 24 | $4.0B | $8.6B |
总资产CBOEMNST
| Q4 25 | $9.3B | $10.0B | ||
| Q3 25 | $9.1B | $9.6B | ||
| Q2 25 | $9.0B | $8.7B | ||
| Q1 25 | $8.7B | $8.2B | ||
| Q4 24 | $7.8B | $7.7B | ||
| Q3 24 | $8.7B | $8.1B | ||
| Q2 24 | $9.3B | $8.1B | ||
| Q1 24 | $8.2B | $10.1B |
负债/权益比CBOEMNST
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | 0.03× | ||
| Q4 24 | 0.34× | 0.06× | ||
| Q3 24 | 0.34× | 0.13× | ||
| Q2 24 | 0.36× | 0.13× | ||
| Q1 24 | 0.36× | — |
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 | $379.4M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | $351.2M |
| 自由现金流率自由现金流/营收 | 27.6% | 16.5% |
| 资本支出强度资本支出/营收 | 1.7% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.12× | 0.84× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $2.0B |
8季度趋势，按日历期对齐
经营现金流CBOEMNST
| Q4 25 | $352.1M | $379.4M | ||
| Q3 25 | $153.9M | $745.1M | ||
| Q2 25 | $333.7M | $466.0M | ||
| Q1 25 | $912.9M | $507.6M | ||
| Q4 24 | $-710.4M | $461.7M | ||
| Q3 24 | $-578.5M | $618.4M | ||
| Q2 24 | $1.5B | $436.3M | ||
| Q1 24 | $895.6M | $412.1M |
自由现金流CBOEMNST
| Q4 25 | $332.1M | $351.2M | ||
| Q3 25 | $137.9M | $701.5M | ||
| Q2 25 | $313.4M | $434.6M | ||
| Q1 25 | $898.2M | $478.5M | ||
| Q4 24 | $-734.2M | $370.4M | ||
| Q3 24 | $-590.5M | $571.4M | ||
| Q2 24 | $1.5B | $376.5M | ||
| Q1 24 | $888.3M | $346.1M |
自由现金流率CBOEMNST
| Q4 25 | 27.6% | 16.5% | ||
| Q3 25 | 12.1% | 31.9% | ||
| Q2 25 | 26.7% | 20.6% | ||
| Q1 25 | 75.2% | 25.8% | ||
| Q4 24 | -66.3% | 20.4% | ||
| Q3 24 | -55.9% | 30.4% | ||
| Q2 24 | 151.6% | 19.8% | ||
| Q1 24 | 92.8% | 18.2% |
资本支出强度CBOEMNST
| Q4 25 | 1.7% | 1.3% | ||
| Q3 25 | 1.4% | 2.0% | ||
| Q2 25 | 1.7% | 1.5% | ||
| Q1 25 | 1.2% | 1.6% | ||
| Q4 24 | 2.1% | 5.0% | ||
| Q3 24 | 1.1% | 2.5% | ||
| Q2 24 | 1.8% | 3.1% | ||
| Q1 24 | 0.8% | 3.5% |
现金转化率CBOEMNST
| Q4 25 | 1.12× | 0.84× | ||
| Q3 25 | 0.51× | 1.42× | ||
| Q2 25 | 1.42× | 0.95× | ||
| Q1 25 | 3.64× | 1.15× | ||
| Q4 24 | -3.62× | 1.71× | ||
| Q3 24 | -2.65× | 1.67× | ||
| Q2 24 | 10.64× | 1.03× | ||
| Q1 24 | 4.27× | 0.93× |
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% |
MNST
| Monster Energy Drinks Segment | $1.2B | 57% |
| Sales Revenue Product Line | $905.5M | 42% |
| Strategic Brands Segment | $50.3M | 2% |
| Alcohol Brands Segment | $29.0M | 1% |
