CME Group (CME)财务
NASDAQ · Financial Services · Financial - Data & Stock Exchanges · 员工3,875人 · CEO Terrence A. Duffy
- 股价
- $303.14 +2.27%
- 市值
- $1090亿
- 企业价值
- $1100亿
- 最近财报
- Q3 '26 2026-10-23提交
- 下次财报
- 2027-02-03 EPS预期 $3.01
营收(TTM)$69.7亿+9.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)65.7%+0.7 百分点 对比去年同期营业利润 $45.8亿
净利润(TTM)$44亿+17.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$43.3亿+6.1% 对比去年同期资本支出 $9370万
稀释EPS(TTM)$12.19+18.1% 对比去年同期最近4个季度之和
净现金-$11亿-28.7% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1090亿 EV $1100亿
- 营收
- $69.7亿 过去12个月
- 营收增速
- +9% FY2026年一致预期
- 净利润率
- 63.1% 净利润 / 营收,TTM
- P/E
- 24.7× 预期 24.5×(FY2026)
- P/S
- 15.6× 股价 / 营收,TTM
- EV / EBITDA
- 16.5× TTM
- 自由现金流
- $43.3亿 过去12个月
- 净利润
- $44亿 过去12个月
- 营收预期
- $70.9亿 FY2026年一致预期
- 盈利
- 2027-02-03 营收预期 $17.6亿
- 股息
- $11.30 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-21):营收超预期1.3%,EPS 超预期1.0%营收$17.4亿,预期$17.1亿(+1.3%);EPS $3.02,预期$2.99(+1.0%)。
- 营收增长加速:同比13.0%Q3 '26营收$17.4亿,此前四个季度的平均值为5.1%。
- 营业利润率65.7%(TTM),较去年同期+0.7 百分点营收增长9.0%,营业利润增长10.1%。
- 税前利润的20.7%来自营业外收益税前利润$57.7亿,营业利润$45.8亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的1.3%(去年为1.2%)最近4个季度投入$9370万(同比+21.4%)。自由现金流$43.3亿,相当于净利润的98.5%。
- 股东回报$61亿 = 自由现金流的140.8%回购$20.2亿(去年为$4210万),股息$40.9亿,股权激励$7550万(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少0.5%Q3 '26稀释股数3.59亿,一年前为3.6亿。
- 净债务 $11亿现金 + 短期投资 $23.3亿,含租赁债务 $34.3亿;一年前净债务 $8.51亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $17.4亿 | $15.4亿 | +13.0% |
| 毛利率 | 94.0% | 84.5% | +9.5 百分点 |
| 营业利润 | $11.4亿 | $9.73亿 | +17.4% |
| 营业利润率 | 65.7% | 63.3% | +2.4 百分点 |
| 净利润 | $10.4亿 | $9.08亿 | +14.2% |
| 稀释EPS | $2.89 | $2.49 | +16.1% |
| 经营现金流 | $10.9亿 | $9.68亿 | +12.2% |
| 资本支出 | $1580万 | $1840万 | -14.1% |
| 自由现金流 | $10.7亿 | $9.5亿 | +12.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $2400万 | -100.0% |
实际 vs 一致预期
2026-10-21| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $17.4亿 | $17.1亿 | +1.3% |
| EPS(一致预期口径) | $3.02 | $2.99 | +1.0% |
来自2026-10-21发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| clearing and transaction fees | $13.8亿 | +12.2% | 79.3% | $56亿 | +8.0% | |
| MarketData | $2.43亿 | +20.0% | 14.0% | $9.13亿 | +17.6% | |
| OtherRevenue | $1.16亿 | +8.3% | 6.7% | $4.58亿 | +5.3% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $44.3亿
- 资本支出
- -$9370万
- 股票回购
- -$20.2亿
- 股息
- -$40.9亿
- 收购
- $15.8亿
- 债务净发行
- $0
- 股权激励费用
- $7550万
- 自由现金流
- $43.3亿
- 股东回报 / FCF
- 140.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 24.7× | 25.2× | 22.7× – 31.3× |
| EV / EBITDA | 16.5× | 17.2× | 15.2× – 21.0× |
| EV / 营收 | 15.7× | 14.4× | 12.2× – 17.6× |
| 股价 / FCF | 25.0× | 25.1× | 20.3× – 36.0× |
| 股价 / 净资产 | 4.1× | 2.9× | 2.2× – 3.4× |
| FCF收益率 | 4.0% | 4.1% | 2.8% – 4.9% |
| 投入资本回报率 | 9.7% | 7.2% | 5.6% – 8.5% |
| 净资产收益率 | 16.2% | 11.8% | 9.6% – 14.1% |
分析师
一致目标价 $321.63 (+6.1%)
区间 $270.00 – $367.00 · 评级 Hold
强烈买入0
买入15
持有18
卖出4
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $70.9亿 | +8.7% | $12.39 | +11.0% | 24.5× | 9 |
| FY2027 | $74.9亿 | +5.7% | $13.24 | +6.8% | 22.9× | 10 |
| FY2028 | $79.6亿 | +6.3% | $14.27 | +7.8% | 21.2× | 3 |
| FY2029 | $85.5亿 | +7.3% | $15.56 | +9.0% | 19.5× | 1 |
| FY2030 | $88.7亿 | +3.7% | $16.90 | +8.6% | 17.9× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
CME Group Inc.在近期10-Q / 10-K文件中标记的全部256项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $6770万 | $7490万 | -9.6% | $7180万 | $7990万 | -10.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $7.88亿 | $6.43亿 | +22.6% | $6.39亿 | $5.73亿 | +11.5% |
| Accounts Receivable, Allowance for Credit Loss | $1000万2025-12-31 | $900万 | +11.1% | $1000万 | $900万 | +11.1% |
| Accounts Receivable, Allowance for Credit Loss, Current | $910万 | $920万 | -1.1% | $130万2011-12-31 | $160万 | -18.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $10.2亿 | $9.83亿 | +3.7% | $10.1亿 | $10.2亿 | -1.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $5550万 | $4340万 | +27.9% | $8190万 | -$1.06亿 | +177.6% |
| Additional Paid in Capital, Common Stock | $205亿 | $224亿 | -8.8% | $222亿 | $224亿 | -0.9% |
| Amortization of Intangible Assets | $5600万 | $5620万 | -0.4% | $2.23亿 | $2.22亿 | +0.8% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 29.6万 | 0 | – | 7.1万 | 8.9万 | -20.2% |
| Assets | $1920亿 | $1870亿 | +2.6% | $1980亿 | $1370亿 | +44.4% |
| Assets, Current | $1590亿 | $1530亿 | +4.1% | $1650亿 | $1030亿 | +60.5% |
| Assets, Fair Value Disclosure | $1.31亿 | – | – | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $22亿 | $24.5亿 | -10.1% | $44.2亿 | $28.9亿 | +52.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $1570亿 | $1510亿 | +3.9% | $1640亿 | $1020亿 | +61.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$28.8亿 | $73.5亿 | -139.2% | $623亿 | $86.8亿 | +617.2% |
| Common Stock, Dividends, Per Share, Cash Paid | $1.30 | $1.25 | +4.0% | $5.602011-12-31 | $4.60 | +21.7% |
| Common Stock, Dividends, Per Share, Declared | – | – | – | $5.00 | $10.40 | -51.9% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $10.4亿 | $9.06亿 | +14.5% | $42.6亿 | $34.8亿 | +22.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $11.3亿2026-03-31 | $9.87亿 | +14.7% | $33亿2023-12-31 | $25亿 | +31.9% |
| Conversion of Stock, Shares Converted | 458万2026-03-31 | – | – | – | – | – |
| Convertible Preferred Stock, Shares Issued upon Conversion | 458万2026-03-31 | – | – | – | – | – |
| Costs and Expenses | $5.96亿 | $5.65亿 | +5.5% | $22.9亿 | $22亿 | +4.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $9.21亿 | $7.77亿 | +18.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4810万 | $5230万 | -8.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $12.6亿 | $10.8亿 | +16.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2.96亿 | $2.53亿 | +16.9% |
| Debt Securities, Trading, and Equity Securities, FV-NI | $1.16亿2025-12-31 | $1.04亿 | +11.6% | $1.16亿 | $1.04亿 | +11.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2580万 | -$4960万 | +48.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$50万 | $20万 | -350.0% |
| Deferred Income Tax Expense (Benefit) | -$420万 | -$670万 | +37.3% | -$610万 | -$6640万 | +90.8% |
| Deferred Income Tax Liabilities, Net | $52.1亿 | $52.2亿 | -0.2% | $52.4亿 | $52.5亿 | -0.1% |
| Deferred Revenue | $3500万 | $3130万 | +11.8% | $1270万2022-12-31 | $1520万 | -16.4% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2020万 | -$1700万 | +218.8% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $200万2025-12-31 | $300万 | -33.3% | $200万 | $300万 | -33.3% |
| Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $1930万2025-12-31 | $2210万 | -12.7% | $1930万 | $2210万 | -12.7% |
| Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $1010万2025-12-31 | $1220万 | -17.2% | $1010万 | $1220万 | -17.2% |
| Defined Contribution Plan, Cost | – | – | – | $2200万 | $2080万 | +5.8% |
| Depreciation | $2740万 | $2640万 | +3.8% | – | – | – |
| Depreciation, Depletion and Amortization, Nonproduction | – | – | – | $1.08亿 | $1.15亿 | -6.6% |
| Dividends, Cash | $4.66亿 | $4.57亿 | +2.1% | $24.8亿2021-12-31 | $21.2亿 | +17.1% |
| Earnings Per Share, Basic | $2.90 | $2.49 | +16.5% | $11.18 | $9.69 | +15.4% |
| Earnings Per Share, Diluted | $2.89 | $2.49 | +16.1% | $11.16 | $9.67 | +15.4% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $11.2亿 | $9.54亿 | +17.4% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | – | – | – | -$50万 | -$260万 | +80.8% |
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | – | – | – | 0.0% | -0.1% | +100.0% |
| Effective Income Tax Rate Reconciliation, Disposition of Business, Amount | – | – | – | -$7230万 | $0 | – |
| Effective Income Tax Rate Reconciliation, Disposition of Business, Percent | – | – | – | -1.3% | 0.0% | – |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | – | – | – | $740万 | $1370万 | -46.0% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | – | – | – | 0.1% | 0.3% | -66.7% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | $1200万 | -$4900万 | +124.5% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | 0.3% | -1.0% | +130.0% |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | 23.6% | 22.4% | +5.4% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | – | – | – | $2.21亿 | $1.86亿 | +18.7% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | – | – | – | 4.1% | 4.1% | 0.0% |
| EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectAmount | – | – | – | $5950万 | $0 | – |
| EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectPercent | – | – | – | 1.1% | 0.0% | – |
| Equity Securities without Readily Determinable Fair Value, Amount | $0 | – | – | – | – | – |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount | $2890万 | – | – | – | – | – |
| Finance Lease, Interest Expense | $40万 | $50万 | -20.0% | $190万 | $220万 | -13.6% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01