Is CBOE or CME more undervalued in 2026?

CirclFi compares Cboe Global Markets, Inc. (CBOE) and CME Group Inc. (CME) using 13 institutional-grade valuation models. CBOE has a Quality of Company score of 10.0/10 while CME scores 9.8/10.

Which is a better buy — CBOE or CME?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do CBOE and CME valuations compare?

CBOE at $344.24 and CME at $277.42 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

CBOE vs CME Valuation Comparison 2026 — Intrinsic Value Analysis

CBOE

Financial Data & Stock Exchanges

Cboe Global Markets, Inc.

Quality

10.0

out of 10

Value Trap

SAFE

Price

$344.24

Last close

Models

12/13

Active

CME

Financial Data & Stock Exchanges

CME Group Inc.

Quality

9.8

out of 10

Value Trap

SAFE

Price

$277.42

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	CBOE Fair Value	CBOE Upside	CME Fair Value	CME Upside
Bayesian DCF	Intrinsic	$220.90	-35.8%	$174.72	-37.0%
Earnings Power Value	Intrinsic	$106.96	-68.9%	$77.99	-71.9%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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CBOE vs CME — Which Stock Is More Undervalued?

CBOE scores higher with a 10.0/10 quality rating vs CME's 9.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Cboe Global Markets, Inc. (CBOE) and CME Group Inc. (CME) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

CBOE currently trades at $344.24 with a QOC of 10.0/10, while CME trades at $277.42 with a QOC of 9.8/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).