Cboe Global Markets, Inc.

LSE:0HQN Stock Report

Market Cap: US$20.5b

Cboe Global Markets Valuation

Is 0HQN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0HQN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0HQN ($197.26) is trading below our estimate of fair value ($200.19)

Significantly Below Fair Value: 0HQN is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0HQN?

Key metric: As 0HQN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0HQN. This is calculated by dividing 0HQN's market cap by their current earnings.
What is 0HQN's PE Ratio?
PE Ratio26.7x
EarningsUS$776.20m
Market CapUS$20.48b

Price to Earnings Ratio vs Peers

How does 0HQN's PE Ratio compare to its peers?

The above table shows the PE ratio for 0HQN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.6x
LSEG London Stock Exchange Group
90.1x22.3%UK£61.3b
IHP IntegraFin Holdings
24.7x9.5%UK£1.3b
III 3i Group
8.3x16.4%UK£34.9b
ICG Intermediate Capital Group
15.4x11.8%UK£6.2b
0HQN Cboe Global Markets
26.7x6.7%US$20.5b

Price-To-Earnings vs Peers: 0HQN is good value based on its Price-To-Earnings Ratio (26.7x) compared to the peer average (34.6x).

Price to Earnings Ratio vs Industry

How does 0HQN's PE Ratio compare vs other companies in the GB Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.3xn/aUS$37.06m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
MAFL Mineral & Financial Investments
2.5xn/aUS$6.25m
APQ APQ Global
0.4xn/aUS$5.84m
No more companies available in this PE range
0HQN 26.7xIndustry Avg. 11.8xNo. of Companies15PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0HQN is expensive based on its Price-To-Earnings Ratio (26.7x) compared to the UK Capital Markets industry average (11.9x).

Price to Earnings Ratio vs Fair Ratio

What is 0HQN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0HQN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.7x
Fair PE Ratio19.9x

Price-To-Earnings vs Fair Ratio: 0HQN is expensive based on its Price-To-Earnings Ratio (26.7x) compared to the estimated Fair Price-To-Earnings Ratio (19.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0HQN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$197.67
US$217.40
+10.0%
7.0%US$263.00US$199.00n/a15
Dec ’25US$215.85
US$215.13
-0.3%
5.4%US$232.00US$190.00n/a15
Nov ’25US$208.26
US$213.33
+2.4%
5.6%US$230.00US$190.00n/a15
Oct ’25US$209.95
US$203.27
-3.2%
6.0%US$230.00US$185.00n/a15
Sep ’25US$204.60
US$201.15
-1.7%
6.3%US$230.00US$185.00n/a13
Aug ’25US$184.92
US$188.00
+1.7%
5.5%US$203.00US$168.00n/a13
Jul ’25US$171.06
US$194.50
+13.7%
6.4%US$215.00US$166.00n/a14
Jun ’25US$174.86
US$194.29
+11.1%
6.7%US$215.00US$163.00n/a14
May ’25US$180.73
US$193.21
+6.9%
6.7%US$211.00US$163.00n/a14
Apr ’25US$182.44
US$191.36
+4.9%
7.0%US$211.00US$165.00n/a14
Mar ’25US$189.13
US$191.07
+1.0%
7.5%US$211.00US$158.00n/a14
Feb ’25US$184.88
US$186.43
+0.8%
7.3%US$204.00US$158.00n/a14
Jan ’25US$177.89
US$178.36
+0.3%
9.6%US$201.00US$138.00n/a14
Dec ’24US$182.24
US$176.93
-2.9%
8.9%US$201.00US$138.00US$215.8514
Nov ’24US$166.46
US$166.43
-0.02%
7.1%US$185.00US$138.00US$208.2614
Oct ’24US$156.80
US$157.85
+0.7%
7.8%US$174.00US$130.00US$209.9513
Sep ’24US$149.06
US$154.58
+3.7%
7.9%US$172.00US$130.00US$204.6012
Aug ’24US$140.07
US$148.42
+6.0%
7.7%US$171.00US$130.00US$184.9212
Jul ’24US$137.35
US$147.75
+7.6%
8.0%US$171.00US$127.00US$171.0612
Jun ’24US$132.16
US$147.64
+11.7%
8.3%US$171.00US$127.00US$174.8611
May ’24US$139.38
US$147.55
+5.9%
8.7%US$175.00US$127.00US$180.7311
Apr ’24US$133.46
US$145.08
+8.7%
8.6%US$175.00US$130.00US$182.4412
Mar ’24US$126.38
US$143.83
+13.8%
9.2%US$175.00US$125.00US$189.1312
Feb ’24US$122.79
US$142.00
+15.6%
8.0%US$168.00US$125.00US$184.8812
Jan ’24US$127.09
US$143.50
+12.9%
8.3%US$168.00US$130.00US$177.8912
Dec ’23US$125.92
US$143.25
+13.8%
8.4%US$168.00US$130.00US$182.2412

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/17 05:33
End of Day Share Price 2024/12/17 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Cboe Global Markets, Inc. is covered by 34 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kevin HealArgus Research Company
Roger FreemanBarclays
Benjamin BudishBarclays