CBOE EV/EBITDA Analysis

EV/EBITDA measures a company’s total value (including debt) relative to its operating earnings, so a 15.5x level means investors pay $15.50 for each dollar of EBITDA.

That is above the sector median of 13.6x, placing CBOE at the 58th percentile among peers, which indicates a slightly higher valuation than a typical sector company. The current 15.5x is stable versus the last eight quarters, with a year-over-year decline of 1.4% and a quarter-over-quarter increase of 4.2%; the recent values (15.5x, 14.9x, 15.8x, 16.6x, 15.7x) show no clear direction. The combination of a modestly above-median valuation and a flat trend suggests limited near-term re-rating pressure, but also no compelling valuation discount, so the risk/opportunity profile is roughly balanced. This metric supports the overall NEUTRAL verdict, as the level is slightly high while the stability offers no fresh signal for a bullish or bearish stance.

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