Cboe Global Markets vs Coinbase
Coinbase is the larger business, with $7.18bn of revenue in fiscal 2025 against $4.71bn for Cboe Global Markets (1.5 times as much). Cboe Global Markets grew faster (15.1% against 9.4%). Cboe Global Markets kept more of each dollar of sales as profit: a net margin of 23.3% against 17.6%. Cboe Global Markets carries less debt relative to equity (28.2% against 51.8%).
| Latest fiscal year | Cboe Global MarketsCBOE, 2025 | CoinbaseCOIN, 2025 |
|---|---|---|
| Revenue | $4.71bn | $7.18bn |
| Revenue growth | 15.1% | 9.4% |
| Net income | $1.10bn | $1.26bn |
| Operating margin | 31.1% | 20.0% |
| Net margin | 23.3% | 17.6% |
| Return on equity | 23.4% | 10.1% |
| Free cash flow | $1.68bn | $2.43bn |
| Cash | $2.22bn | $11.29bn |
| Total debt | $1.45bn | $7.66bn |
| Debt to equity | 28.2% | 51.8% |
| Dividend per share | $2.70 | — |
| Dividend yield | 0.9% | — |
| Share buybacks | $66.7m | $790m |
| Employees | — | 4,951 |
| Market value | $35.55bn | $38.44bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 73 (Strong) | 32 (Weak) |
| Insider trades, 12 months | 0 buys, 5 sales | 0 buys, 256 sales |