Morningstar

CME Group Inc Class A CME

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Stock XNAS Rating as of
$257.40 +1.34 (0.52%)
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As of Delayed Price Closed

Company Report

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CME Benefits From Volatile Markets Through High Trading Volume and Revenue

Michael Miller

CME Group enjoyed favorable market conditions in 2025, as volatility across multiple asset classes drove higher trading volume, resulting in strong revenue growth. CME has enjoyed accelerated revenue growth since 2022, as heightened interest-rate uncertainty has led to sustained growth in interest-rate futures volume. We expect this tailwind to persist in 2026 before diminishing in 2027, contributing to our expectation for a deceleration in growth next year.

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Price vs Fair Value

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CME is trading at a 177% premium.
Price
$257.40
Fair Value
$393.00
Uncertainty
Low
1-Star Price
$214.36
5-Star Price
$675.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

CME's move into prediction markets could provide a meaningful tailwind to growth if performance is better than expected.

Bears

Unlike its peers, CME is still mostly a transactional business. A drop in market activity could lead to decrease in earnings.

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Trading Information

Previous Close Price
$256.06
Day Range
$255.43–259.45
52-Week Range
$244.56–329.16
Bid/Ask
$255.63 / $259.01
Shares Outstanding
361.32M
Market Cap
$93.00B
Volume/Avg
4M / 3M

Key Statistics

Price/Earnings (Normalized)
21.87
Price/Sales
13.75
Dividend Yield (Trailing)
4.35%
Dividend Yield (Forward)
2.02%
Total Yield
4.64%

Company Profile

Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The Chicago Mercantile Exchange was founded in 1898 and in 2002 completed its IPO. Since then, CME Group has consolidated parts of the industry by merging with crosstown rival CBOT Holdings in 2007 before acquiring Nymex Holdings in 2008 and NEX in 2018. In addition, the company has a 27% stake in S&P Dow Jones Indexes, making the Chicago Mercantile Exchange the exclusive venue to trade and clear S&P futures contracts. Through CME’s acquisition of NEX, it also expanded into cash foreign exchange, fixed-income trading, and collateral optimization.
Sector
Financial Services
Industry
Financial Data & Stock Exchanges
Stock Style Box
Large Value
Total Number of Employees
3,875
Website
https://www.cmegroup.com

Competitors

Valuation

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Metric
CME
DB1
ICE
Price/Earnings (Normalized)
 21.8721.8318.66
Price/Book Value
 3.504.272.72
Price/Sales
 13.755.976.20
Price/Cash Flow
 21.2215.6614.45
Price/Earnings
CME
DB1
ICE

Financial Strength

Metric
CME
DB1
ICE
Quick Ratio
 0.020.740.06
Current Ratio
 1.021.011.01
Interest Coverage
 32.9320.797.33
Quick Ratio
CME
DB1
ICE

Profitability

Metric
CME
DB1
ICE
Return on Assets (Normalized)
 2.30%0.72%2.91%
Return on Equity (Normalized)
 15.36%20.03%15.11%
Return on Invested Capital (Normalized)
 14.10%1.01%9.94%
Return on Assets
CME
DB1
ICE

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