CME GROUP INC. (CME)

Security & Commodity Brokers, Dealers, Exchanges & Services

Latest Price

$274.07

TTM P/E

23.30

Normalized P/E

28.96

Div Yield

3.64%

Book Value

73.67

P/B Ratio

3.72

Valuation metrics

EPS: $11.16

Book value / share: $79.73

Formula: √(22.5 × EPS × BVPS)

Graham Number

$141.49

48% downside

Norm. op. income: $3.0B (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$77.59

72% downside

Base FCF: $3.4B (median of recent 5yr)

Growth: 10%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$247.27

10% downside

EPS: $11.16

Target P/E: 29×

Formula: EPS × P/E

P/E Fair Value

$323.64

+18% upside

87.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	30.57M	$6.75B	8.47%	-881.9K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	23.66M	$5.22B	6.56%	+294.6K	2026-06-30
STATE STREET CORP	16.35M	$3.61B	4.53%	+290.9K	2026-06-30
MORGAN STANLEY	9.73M	$2.15B	2.70%	+321.4K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	9.27M	$2.05B	2.57%	+124.4K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	9.17M	$2.02B	2.54%	+138.2K	2026-06-30
Capital World Investors	6.82M	$1.51B	1.89%	-114.2K	2026-06-30
JPMORGAN CHASE & CO	5.77M	$1.26B	1.60%	-5.33M	2026-06-30
Sanders Capital, LLC	5.07M	$1.12B	1.41%	+906.5K	2026-06-30
NORGES BANK	4.82M	$1.06B	1.34%	-757.4K	2026-06-30