CBOE
Evidence as of 2026-09-02Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.3 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The surviving evidence presents a mixed picture (evidence balance: Mixed, +0.3 of a possible +2; confidence high). Reported net income for the three‑month periods was $300,800,000 (period ended 30 September 2025), $385,700,000 (period ended 31 March 2026), and $353,100,000 (period ended 30 June 2026), while operating income rose from $370,300,000 for the three months ended 30 September 2025 to $505,600,000 for the three months ended 31 March 2026 and $476,000,000 for the three months ended 30 June 2026. Reported gross profit increased from $605,500,000 (three months ended 30 September 2025) to $728,900,000 (three months ended 31 March 2026) and $731,600,000 (three months ended 30 June 2026).
Balance‑sheet items in the packet show cash and cash equivalents rising to $2,276,200,000 as of 30 June 2026, long‑term debt essentially unchanged around $1,443,800,000, and stockholders’ equity increasing to $5,625,800,000 as of 30 June 2026. Weighted‑average diluted shares are roughly 104,900,000 for the period ended 30 June 2026, and point‑in‑time common shares outstanding trended down slightly from 104,667,696 on 13 February 2026 to 104,431,019 on 24 July 2026. Free cash flow (TTM) is listed at $4,745,700,000 and EPS (TTM) at $12.09; the dataset does not include market price or market‑cap inputs, so valuation multiples are not available from these filings.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Weighted-average diluted shares were 104,900,000 for the quarter ended 30 September 2025 and 105,000,000 for the quarter ended 31 March 2026, then 104,900,000 for the quarter ended 30 June 2026 (three-month periods shown in the respective filings).
XBRL companyfacts · 0001628280-25-047680Point-in-time common shares outstanding declined from 104,667,696 as of 13 February 2026 to 104,653,784 as of 24 April 2026 and to 104,431,019 as of 24 July 2026.
XBRL companyfacts · 0001628280-26-010013Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, CBOE appears as a holding in the IVV ETF at 0.04% of that fund.
ETF constituents · market dataThe provided evidence set includes only ETF membership data and does not include any insider Form 4 filing events for CBOE.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A headline states Cboe 'Could Be 24% Overvalued' as part of a 'fair value debate'.
News · simplywall.st · 2026-09-01A headline reports Cboe shares fell 3.3% and cites GF Value saying the shares are 'still overvalued'.
News · gurufocus.com · 2026-08-31Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Free cash flow (TTM) is $4,745,700,000.
Valuation inputs · SEC XBRL + stored EOD closeEarnings per share (TTM) is $12.09.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several firm, company-filed fundamentals point to improving profitability and capital strength through mid-2026: rising gross profit (fundamentals-4), higher operating income (fundamentals-3), and elevated net income in the latest quarters (fundamentals-2) are documented in SEC filings and represent strong, high-quality evidence. Liquidity and balance-sheet metrics show cash increased materially (fundamentals-6) while stockholders' equity expanded (fundamentals-8), both also coming from company filings and therefore carrying high evidentiary weight. Share counts are stable to modestly down on a point-in-time basis (fundamentals-0, fundamentals-1) and the company executed repurchases in the March quarter (fundamentals-9), which together support an earnings-per-share base that the valuation inputs report as $12.09 TTM (valuation-1); these sources are primary filings or derived from them and are medium-to-strong evidence. Negative media headlines claiming overvaluation (news-0, news-1) rely on third-party valuation opinion rather than company-reported performance; given the strong underlying filing-based metrics, those headlines are contestable on the basis that they do not change the documented profit, cash, and equity trends. The main data gap is the absence of market price and enterprise multiples in this evidence set (valuation-4, valuation-5), which limits valuation comparisons; that limitation is factual and weakens any price-level conclusions but does not negate the company-reported operational improvements.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.35
26 surviving claims rest on 14 distinct sources; the heaviest analyst carries 38% of them, and 100% of what the desk raised survived the debate.
The evidence base is moderately broad (14 distinct sources) but the surviving claims are somewhat concentrated: a single analyst/actor is responsible for a large share of the items, and every claim the desk raised survived the internal debate. That combination raises fragility: the read leans on a few influential contributors and on filings that haven't yet been challenged externally, so treat the set as informative but weight it cautiously when forming conclusions.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.6 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on CBOE Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.