Spreadsheet Data
Audit the saved peer set and the method inputs behind the blended fair value.
Review the saved peer set across price, scale, operating metrics, and raw valuation multiples.
| Peer | Price | Market Cap | Enterprise Value |
|---|
| Revenue |
|---|
| EBITDA |
|---|
| Net Income |
|---|
| P/E |
|---|
| P/S |
|---|
| EV/EBITDA |
|---|
CM CME CME GROUP INC. FY ended Dec 31, 2025 | $282.17 | $18.80B | $161.05B | $6.52B | $5.69B | $4.07B | 25.28x | 2.88x | 28.31x |
CB CBOE Cboe Global Markets, Inc. FY ended Feb 13, 2026 | $312.68 | $32.65B | $33.10B | $4.71B | $1.68B | $1.10B | 30.01x | 6.93x | 18.68x |
ND NDAQ NASDAQ, INC. FY ended Feb 03, 2026 | $99.56 | $55.65B | $66.16B | $8.26B | $2.92B | $1.79B | 32.22x | 6.74x | 20.22x |
MK MKTX MARKETAXESS HOLDINGS INC FY ended Feb 20, 2026 | $162.77 | $5.73B | $5.81B | $846.27M | $388.59M | $246.63M | 24.51x | 6.77x | 14.65x |
TW TW Tradeweb Markets Inc. FY ended Dec 31, 2025 | $108.91 | — | — | $2.05B | $1.20B | $812.79M | 28.81x | — | — |
SP SPGI S&P Global Inc. FY ended Jan 30, 2026 | $442.69 | $131.04B | $136.79B | $15.34B | $7.39B | $4.47B | 30.20x | 8.54x | 17.58x |
See which peer averages feed the weighted fair value and which methods are excluded.
| Method | Type | Avg. Multiple | Coverage | Implied Equity Value | Fair Value / Share | Status |
|---|---|---|---|---|---|---|
EV / EBITDA EVActive | Enterprise Multiple | 20.06x | 5/6 | $35.73B | $63.65 | Included in the active peer mix. |
Price / Sales PSActive | Equity Multiple | 6.37x | 5/6 | $80.54B | $143.47 | Included in the active peer mix. |
Price / Earnings PEActive | Equity Multiple | 28.51x | 6/6 | $94.50B | $168.32 | Included in the active peer mix. |
Open the saved peer table used to audit the fair value view.
| Peer | Price | Market Cap | Enterprise Value | Revenue | EBITDA | Net Income | P/E | P/S | EV/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
CM CME CME GROUP INC. FY ended Dec 31, 2025 | $282.17 | $18.80B | $161.05B | $6.52B | $5.69B | $4.07B | 25.28x | 2.88x | 28.31x |
CB CBOE Cboe Global Markets, Inc. FY ended Feb 13, 2026 | $312.68 | $32.65B | $33.10B | $4.71B | $1.68B | $1.10B | 30.01x | 6.93x | 18.68x |
ND NDAQ NASDAQ, INC. FY ended Feb 03, 2026 | $99.56 | $55.65B | $66.16B | $8.26B | $2.92B | $1.79B | 32.22x | 6.74x | 20.22x |
MK MKTX MARKETAXESS HOLDINGS INC FY ended Feb 20, 2026 | $162.77 | $5.73B | $5.81B | $846.27M | $388.59M | $246.63M | 24.51x | 6.77x | 14.65x |
TW TW Tradeweb Markets Inc. FY ended Dec 31, 2025 | $108.91 | — | — | $2.05B | $1.20B | $812.79M | 28.81x | — | — |
SP SPGI S&P Global Inc. FY ended Jan 30, 2026 | $442.69 | $131.04B | $136.79B | $15.34B | $7.39B | $4.47B | 30.20x | 8.54x | 17.58x |
Open the peer-average inputs behind the weighted result.
| Method | Type | Avg. Multiple | Coverage | Implied Equity Value | Fair Value / Share | Status |
|---|---|---|---|---|---|---|
EV / EBITDA EVActive | Enterprise Multiple | 20.06x | 5/6 | $35.73B | $63.65 | Included in the active peer mix. |
Price / Sales PSActive | Equity Multiple | 6.37x | 5/6 | $80.54B | $143.47 | Included in the active peer mix. |
Price / Earnings PEActive | Equity Multiple | 28.51x | 6/6 | $94.50B | $168.32 | Included in the active peer mix. |