Cboe Global Markets (CBOE) FY2017 results: revenue $2.2 billion, up 217.0% on the year
Cboe Global Markets, Inc. (CBOE) reported revenue of $2.2 billion for fiscal 2017, the year ended 31 December 2017, up 217.0% on the year before. Net income was $402 million, up 115.0%, and diluted earnings per share $3.69. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$2.2 billion
+217.0% on the year
FY2010FY2017
Operating margin
16.7%
42.4% a year earlier
FY2010FY2017
Net income
$402 million
+115.0% on the year
FY2010FY2017
Diluted EPS
$3.69
+62.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,229
703
664
+217.0%
Cost of revenue
1,234
137
102
+802.3%
Gross profit
996
566
562
+75.8%
Gross margin
44.7%
80.6%
84.6%
Operating income
372
298
320
+24.7%
Operating margin
16.7%
42.4%
48.2%
Interest expense
42.6
5.7
0.0
+647.4%
Pre-tax income
334
307
324
+9.1%
Income tax
-66.2
121
119
Effective tax rate
-19.8%
39.4%
36.7%
Net income
402
187
205
+115.0%
Net margin
18.0%
26.6%
30.9%
Diluted EPS
$3.69
$2.27
$2.46
+62.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
374
230
245
+63.1%
Capital expenditure
37.5
44.4
39.3
-15.5%
Free cash flow
337
185
206
+81.9%
Free cash flow margin
15.1%
26.3%
31.0%
Cash from investing
-1,436
-84.4
-79.4
Cash from financing
1,100
-150
-212
Depreciation and amortisation
192
44.4
46.3
+332.9%
Share-based compensation
52.6
14.5
12.2
+262.7%
Buybacks
n/a
60.5
132
Dividends paid
118
78.5
73.4
+50.4%
Dividend per share
$1.04
$0.96
$0.88
+8.3%
Diluted shares, weighted
108m
81m
83m
+32.0%
Shares outstanding at period end
113m
81m
82m
+38.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,111
318
260
+878.3%
Redeemable equity
9.4
12.6
0.0
-25.4%
Debt
1,238
0.0
0.0
Other liabilities
908
146
125
+521.5%
Total liabilities and equity
5,266
477
385
+1,004.8%
Fixed assets
73.9
55.9
60.4
+32.1%
Goodwill
2,707
26.5
7.7
+10,129.0%
Intangible assets
1,903
8.7
2.4
+21,769.0%
Investments
47.3
0.0
n/a
Trading assets
0.5
n/a
n/a
Cash and equivalents
144
97.3
102
+47.5%
Receivables
217
76.7
62.5
+183.3%
Other assets
173
212
150
-18.1%
Total assets
5,266
477
385
+1,004.8%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.