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Arphra AIPlain-English read on Cboe Global Markets, Inc.’s valuationOverview
Discounted cash flow
Income / accounting-based
Multiples & assets
Scenario
Toolbox
Weighted blend
$218.84
-34.39% vs spot
Sell
Spot price
$333.56
Mkt cap $34.91B
subtle cardAnalyst PT consensus
$296.00
-11.26% vs spot
subtle cardMethods covered
19 / 20
9 in blend
subtle cardFootball field
CBOE · fair-value range by method
Method comparison
CBOE · fair value by valuation framework
| Method | Category | Fair value | Range | vs spot | Weight | Driver | Conf. |
|---|---|---|---|---|---|---|---|
| DCF · FCFF | dcf | $703.08 | $420.98 – $1,502.96 | +110.78% | 6.0% | WACC 5.6%, g₀=9.2%, gₗ=3.5% | high |
| DCF · FCFE | dcf | $569.80 | $360.68 – $1,055.66 | +70.82% | 11.9% | kₑ 6.1%, g₀=9.2%, gₗ=3.5% | high |
| DDM · Gordon | ddm | $108.76 | $78.84 – $175.29 | -67.39% | 11.9% | D₁ 2.77, kₑ 6.1%, gₗ 3.5% | med |
| DDM · H-model | ddm | $138.94 | $89.29 – $249.34 | -58.35% | — | D₀ 2.77, g₀=9.2%, gₗ=3.5%, H 5y | med |
| DDM · multi-stage | ddm | $124.19 | $105.56 – $142.82 | -62.77% | 11.9% | 5y schedule 9.2% → 3.5%, kₑ 6.1% | high |
| Residual income | income | $69.53 | $61.19 – $77.88 | -79.15% | 21.4% | BV 50.05, ROE 21.4% → kₑ | high |
| EVA / MVA | income | $507.48 | $446.59 – $568.38 | +52.14% | 7.1% | IC 4.6B, WACC 5.6% | high |
| Excess returns | income | $93.84 | $82.58 – $105.10 | -71.87% | 14.3% | BV 50.05, ROE 21.4% | high |
| P/E · sector | multiple | $145.88 | $128.37 – $163.39 | -56.27% | 9.5% | EPS 10.42 × peer P/E 14.0 | med |
| P/S · sector | multiple | $137.75 | $117.09 – $158.41 | -58.70% | — | Rev/sh 45.92 × peer P/S 3.00 | med |
| EV / EBITDA | multiple | $164.57 | $144.83 – $184.32 | -50.66% | — | EBITDA × peer 10.0× − ND -0.5B | high |
| EV / EBIT | multiple | $182.15 | $154.83 – $209.47 | -45.39% | — | EBIT × peer 12.0× − ND | med |
| EV / Sales | multiple | $122.27 | $103.93 – $140.61 | -63.35% | — | Sales × peer 2.55× − ND | med |
| PEG-anchored | multiple | $289.26 | $245.87 – $332.64 | -13.28% | — | PEG=1, fwd EPS g 27.8% | med |
| Earnings power | intrinsic | $188.73 | $166.08 – $211.38 | -43.42% | — | NOPAT / WACC, no growth | med |
| Graham revised | intrinsic | $277.10 | $235.54 – $318.67 | -16.93% | — | EPS×(8.5+2g)·4.4/Y | low |
| Lynch P/E=g | intrinsic | $96.15 | $81.73 – $110.58 | -71.17% | — | PE = g (9.2) | low |
| Book NAV | asset | $50.05 | $47.54 – $52.55 | -85.00% | 6.0% | (Assets − Liabilities) / Shares | high |
| Liquidation | asset | $29.33 | $24.93 – $33.73 | -91.21% | — | Cash 100% + non-cash 70% − Liab. | low |
| Reverse DCF | reverse | — | — | — | — | Implied g -6.6% · Pessimistic — market pricing decline | high |
Cost-of-capital build-up
CAPM cost of equity, after-tax cost of debt, WACC. Risk-free as of 2026-05-12.
| Risk-free rate (US 10y Treasury)rf | 4.46% |
| Equity beta (0.37)β | × 0.37 |
| Equity risk premiumERP | 4.46% |
| Cost of equity (CAPM)kₑ | 6.12% |
| Pre-tax cost of debtkd | 5.96% |
| Effective tax ratet | 29.8% |
| After-tax cost of debt | 4.18% |
| Equity weight$5.1B | 75.3% |
| Debt weight$1.7B | 24.7% |
| WACC | 5.64% |
Growth assumptions
Blended forward growth used as DCF default; terminal pegged to long-run nominal GDP.
| Analyst forward revenue growthFMP | -40.65% |
| Analyst forward EPS growthFMP | 27.76% |
| Historical 5y revenue CAGRFY | 7.77% |
| Historical 5y EPS CAGRFY | 20.64% |
| Sustainable g (ROE × retention)Δ | 15.87% |
| Blended near-term growth (g₀) | 9.23% |
| Terminal growth (gₗ) | 3.48% |
Sources
- FMP /analyst-estimates— 8 rows(as of 2023-12-31)
- Treasury rates · 10y— 4.46% rf(as of 2026-05-12)
- market_risk_premium · DB— 4.46% ERP(as of 2026-05-13)
- Sector multiple defaults— Financial Services (live sector PE unavailable)
- FMP /price-target-consensus— mean $296.00
This page is generated by a quantitative valuation engine for research purposes only and does not constitute investment advice. Methodology follows standard CFA / Damodaran frameworks; assumptions are driven by analyst consensus from Financial Modeling Prep and reported financial statements.