CME Group Inc. Reports All-Time Record Revenue, Adjusted Operating Income, Adjusted Net Income and Adjusted Earnings Per Share for Q1 2025
CME Group reported record financial results for Q1 2025, with revenue reaching $1.6 billion, up 10% from Q1 2024. The company achieved record average daily volume (ADV) of 29.8 million contracts, showing growth across all asset classes.
Key financial metrics include operating income of $1.1 billion, net income of $956 million, and diluted earnings per share of $2.62. On an adjusted basis, net income was $1.0 billion with diluted earnings per share of $2.80.
Notable performance highlights include:
- Commodities growth of 19%
- Financials increase of 12%
- ADV outside U.S. reached 8.8 million contracts, up 19% year-over-year
- Clearing and transaction fees revenue of $1.3 billion
- Market data revenue of $195 million
The company maintained strong liquidity with $1.6 billion in cash and paid approximately $2.6 billion in dividends during Q1 2025.
CME Group ha riportato risultati finanziari record per il primo trimestre del 2025, con ricavi che hanno raggiunto 1,6 miliardi di dollari, in aumento del 10% rispetto al primo trimestre del 2024. L'azienda ha registrato un record di volume medio giornaliero (ADV) pari a 29,8 milioni di contratti, con una crescita in tutte le classi di attività.
I principali indicatori finanziari includono un reddito operativo di 1,1 miliardi di dollari, un utile netto di 956 milioni di dollari e un utile diluito per azione di 2,62 dollari. Su base rettificata, l'utile netto è stato di 1,0 miliardi di dollari con un utile diluito per azione di 2,80 dollari.
Tra i risultati più significativi si evidenziano:
- crescita delle materie prime del 19%
- aumento del 12% nei servizi finanziari
- ADV fuori dagli Stati Uniti pari a 8,8 milioni di contratti, in crescita del 19% su base annua
- ricavi da commissioni di clearing e transazioni per 1,3 miliardi di dollari
- ricavi da dati di mercato pari a 195 milioni di dollari
L'azienda ha mantenuto una forte liquidità con 1,6 miliardi di dollari in contanti e ha distribuito circa 2,6 miliardi di dollari in dividendi durante il primo trimestre del 2025.
CME Group reportó resultados financieros récord para el primer trimestre de 2025, con ingresos que alcanzaron los 1.600 millones de dólares, un aumento del 10% respecto al primer trimestre de 2024. La compañía alcanzó un récord de volumen diario promedio (ADV) de 29,8 millones de contratos, mostrando crecimiento en todas las clases de activos.
Las métricas financieras clave incluyen un ingreso operativo de 1.100 millones de dólares, un ingreso neto de 956 millones de dólares y ganancias diluidas por acción de 2,62 dólares. En base ajustada, el ingreso neto fue de 1.000 millones de dólares con ganancias diluidas por acción de 2,80 dólares.
Los aspectos destacados del desempeño incluyen:
- crecimiento del 19% en commodities
- incremento del 12% en servicios financieros
- ADV fuera de EE.UU. alcanzó 8,8 millones de contratos, un 19% más interanual
- ingresos por tarifas de compensación y transacciones de 1.300 millones de dólares
- ingresos por datos de mercado de 195 millones de dólares
La empresa mantuvo una fuerte liquidez con 1.600 millones de dólares en efectivo y pagó aproximadamente 2.600 millones de dólares en dividendos durante el primer trimestre de 2025.
CME 그룹은 2025년 1분기에 기록적인 재무 실적을 보고했으며, 매출은 16억 달러에 달해 2024년 1분기 대비 10% 증가했습니다. 회사는 모든 자산군에서 성장세를 보이며 평균 일일 거래량(ADV) 2,980만 계약으로 기록을 세웠습니다.
주요 재무 지표로는 영업이익 11억 달러, 순이익 9억 5,600만 달러, 희석 주당순이익 2.62달러가 포함됩니다. 조정 기준으로는 순이익이 10억 달러, 희석 주당순이익은 2.80달러였습니다.
주목할 만한 성과는 다음과 같습니다:
- 상품 부문 19% 성장
- 금융 부문 12% 증가
- 미국 외 ADV 880만 계약으로 전년 대비 19% 증가
- 청산 및 거래 수수료 수익 13억 달러
- 시장 데이터 수익 1억 9,500만 달러
회사는 16억 달러의 현금을 보유하며 강력한 유동성을 유지했고, 2025년 1분기에 약 26억 달러의 배당금을 지급했습니다.
CME Group a annoncé des résultats financiers record pour le premier trimestre 2025, avec un chiffre d'affaires atteignant 1,6 milliard de dollars, en hausse de 10 % par rapport au premier trimestre 2024. La société a enregistré un record de volume moyen quotidien (ADV) de 29,8 millions de contrats, montrant une croissance dans toutes les classes d'actifs.
Les principaux indicateurs financiers incluent un revenu opérationnel de 1,1 milliard de dollars, un revenu net de 956 millions de dollars et un bénéfice dilué par action de 2,62 dollars. Sur une base ajustée, le revenu net s'est élevé à 1,0 milliard de dollars avec un bénéfice dilué par action de 2,80 dollars.
Les points forts de la performance comprennent :
- une croissance de 19 % dans les matières premières
- une augmentation de 12 % dans les services financiers
- un ADV hors États-Unis atteignant 8,8 millions de contrats, en hausse de 19 % d'une année sur l'autre
- des revenus de frais de compensation et de transaction de 1,3 milliard de dollars
- des revenus de données de marché de 195 millions de dollars
La société a maintenu une forte liquidité avec 1,6 milliard de dollars en liquidités et a versé environ 2,6 milliards de dollars en dividendes au cours du premier trimestre 2025.
CME Group meldete Rekordergebnisse für das erste Quartal 2025, mit einem Umsatz von 1,6 Milliarden US-Dollar, was einem Anstieg von 10 % gegenüber dem ersten Quartal 2024 entspricht. Das Unternehmen erreichte ein Rekord-durchschnittliches tägliches Handelsvolumen (ADV) von 29,8 Millionen Kontrakten und verzeichnete Wachstum in allen Asset-Klassen.
Wichtige Finanzkennzahlen umfassen einen Betriebsgewinn von 1,1 Milliarden US-Dollar, einen Nettogewinn von 956 Millionen US-Dollar und einen verwässerten Gewinn je Aktie von 2,62 US-Dollar. Bereinigt lag der Nettogewinn bei 1,0 Milliarden US-Dollar mit einem verwässerten Gewinn je Aktie von 2,80 US-Dollar.
Besondere Leistungshighlights sind:
- 19 % Wachstum im Rohstoffbereich
- 12 % Zuwachs im Finanzbereich
- ADV außerhalb der USA erreichte 8,8 Millionen Kontrakte, ein Plus von 19 % im Jahresvergleich
- Umsätze aus Clearing- und Transaktionsgebühren von 1,3 Milliarden US-Dollar
- Marktdatenumsatz von 195 Millionen US-Dollar
Das Unternehmen hielt eine starke Liquidität mit 1,6 Milliarden US-Dollar in bar und zahlte im ersten Quartal 2025 rund 2,6 Milliarden US-Dollar an Dividenden aus.
- Record revenue of $1.6 billion, up 10% YoY
- Record average daily volume of 29.8 million contracts
- 19% growth in commodities trading
- 12% increase in financials trading
- 19% growth in international ADV to 8.8 million contracts
- $2.6 billion paid in dividends during Q1
- Increased technology expenses, up from $59.4M to $65.7M YoY
- Total debt of $3.4 billion
- Cash position decreased from $2.89B to $1.41B compared to December 2024
Insights
CME Group delivers record Q1 results across all metrics, with 10% revenue growth and strong international expansion amid market volatility.
CME Group's Q1 2025 results demonstrate exceptional financial performance with record revenue of
The exchange reported net income of
Underlying performance shows broad-based strength with commodities growing
CME maintains strong capital deployment with
The clearing and transaction fees - CME's primary revenue driver - totaled
These results demonstrate how CME's business model thrives in what management describes as a "risk-always-on environment" where market participants increasingly rely on derivatives for managing uncertainty. The exchange's ability to capture growing volumes across every asset class while maintaining strong pricing power underscores its essential role in global financial markets.
- Record revenue of
$1.6 billion 10% from Q1 2024 - Record average daily volume (ADV) of 29.8 million contracts, with broad-based growth in every asset class
The company reported revenue of
"Amid heightened economic uncertainty, CME Group operated with exceptional resilience as clients turned to our markets in record numbers to hedge business risks across asset classes," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "This increased demand drove our Q1 ADV to a new high of 29.8 million contracts and generated record revenue, adjusted operating income, adjusted net income and adjusted earnings per share for the quarter. Commodities grew
1. A reconciliation of the non-GAAP financial results mentioned to the respective GAAP figures can be found within the Reconciliation of GAAP to non-GAAP Measures chart at the end of the financial statements and earnings presentation materials. |
Clearing and transaction fees revenue for first-quarter 2025 totaled
As of March 31, 2025 the company had
CME Group will hold a Q&A conference call to discuss first-quarter 2025 results at 8:30 a.m. Eastern Time today. A live audio webcast of the Q&A call will be available on the Investor Relations section of CME Group's website at investor.cmegroup.com under Events & Presentations. An archived recording will be available for up to two months after the call.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and
Statements in this press release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the factors that might affect our performance are increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development, implementation and maintenance of the enhanced functionality required by our customers while maintaining reliability and ensuring that such technology is not vulnerable to security risks; our ability to continue introducing innovative and competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and derive revenues that are commensurate with our efforts and expectations, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to manage variable costs relating to CME Group's transition to the Google Cloud and minimize duplicative costs during the transition between maintaining the on-premise environment and the Google Cloud environment; our ability to maintain existing customers at substantially similar trading levels, develop strategic relationships and attract new customers; our ability to expand and globally offer our products and services; changes in regulations, including the impact of any changes in laws or government policies with respect to our products or services or our industry, such as any changes to regulations and policies that require increased financial and operational resources from us or our customers, as well as the impact of tariffs and tax policy changes, restrictions on our ability to offer CME Group products and services in specific geographies or to specific customers or limitations or changes in underlying/physical product flows across geographies; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; decreases in revenue from our market data as a result of decreased demand or changes to regulations in various jurisdictions; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our credit and liquidity risk management practices to adequately protect us from the credit risks of clearing members and other counterparties, and to satisfy the margin and liquidity requirements associated with the BrokerTec matched principal business; the ability of our compliance and risk management programs to effectively monitor and manage our risks, including our ability to prevent errors and misconduct and protect our infrastructure against security breaches and misappropriation of our intellectual property assets; our dependence on third-party providers and exposure to risk through third parties, including risks related to the performance, reliability and security of technology used by our third-party providers and third-party providers that our clients and third-parties rely on; our reliance on third-party distribution partners, including independent software vendors (ISVs), Futures Commission Merchants (FCMs), introducing brokers, broker-dealers around the world, regulatory reporting and data distributors and platform operators, and other partners, for facilitating trading and for market data information, and potential impacts from changes in their business models and priorities; volatility in commodity, equity and fixed income prices, and price volatility of financial benchmarks and instruments such as interest rates, equity indices, fixed income instruments and foreign exchange rates; economic, social, political and market conditions, including the volatility of the capital and credit markets and the impact of economic conditions on the trading activity of our current and potential customers; our ability to accommodate increases in contract volume and market data and order transaction traffic across the entire trade cycle and the ability to implement enhancements without failure or degradation of the performance of our trading and clearing systems and meeting our regulatory reporting obligations; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks, control the costs and achieve the synergies associated with our strategy for acquisitions, investments and alliances, including those associated with the performance of our joint ventures with S&P Dow Jones (S&P Dow Jones Indices LLC) in index services, our primary business and distribution partners' actions and our partnership with Google Cloud, including our ability to manage the successful implementation of our agreements with Google and our data center partners; variances in earnings on cash accounts and collateral that our clearing house holds for its clients; impact of CME Group pricing/fee level and structure and incentive changes; impact of aggregation services and internalization on trade flow and volumes; any negative financial impacts from changes to the terms of intellectual property and index rights; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry, channel partner and customer consolidation and/or concentration; decreases in trading and clearing activity; the imposition of a transaction tax or user fee on futures and options transactions and/or repeal of the 60/40 tax treatment of such transactions; increases in effective tax rates, borrowing costs, or changes in tax policy; our ability to maintain our brand and reputation; and the unfavorable resolution of material legal proceedings. For a detailed discussion and additional information concerning these and other factors that might affect our performance, see our other recent periodic filings, including our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission ("SEC") on February 27, 2025, under the caption "Risk Factors".
CME Group Inc. and Subsidiaries | ||||
Consolidated Balance Sheets | ||||
(in millions) | ||||
March 31, 2025 | December 31, 2024 | |||
ASSETS | ||||
Current Assets: | ||||
Cash and cash equivalents | $ 1,405.3 | $ 2,892.4 | ||
Marketable securities | 113.9 | 113.2 | ||
Accounts receivable, net of allowance | 770.2 | 573.1 | ||
Other current assets (includes | 461.5 | 559.4 | ||
Performance bonds and guaranty fund contributions | 120,694.5 | 98,895.4 | ||
Total current assets | 123,445.4 | 103,033.5 | ||
Property, net of accumulated depreciation and amortization | 371.2 | 386.2 | ||
Intangible assets—trading products | 17,175.3 | 17,175.3 | ||
Intangible assets—other, net | 2,773.2 | 2,821.6 | ||
Goodwill | 10,499.5 | 10,486.9 | ||
Other assets | 3,567.0 | 3,543.5 | ||
Total Assets | $ 157,831.6 | $ 137,447.0 | ||
LIABILITIES AND EQUITY | ||||
Current Liabilities: | ||||
Accounts payable | $ 100.2 | $ 79.9 | ||
Short-term debt | — | 749.8 | ||
Other current liabilities | 625.5 | 2,588.8 | ||
Performance bonds and guaranty fund contributions | 120,694.5 | 98,895.4 | ||
Total current liabilities | 121,420.2 | 102,313.9 | ||
Long-term debt | 3,419.4 | 2,678.2 | ||
Deferred income tax liabilities, net | 5,240.1 | 5,246.8 | ||
Other liabilities | 721.2 | 721.2 | ||
Total Liabilities | 130,800.9 | 110,960.1 | ||
Total CME Group Shareholders' Equity | 27,030.7 | 26,486.9 | ||
Total Liabilities and Equity | $ 157,831.6 | $ 137,447.0 | ||
CME Group Inc. and Subsidiaries | ||||
Consolidated Statements of Income | ||||
(dollars in millions, except per share amounts; shares in thousands) | ||||
Quarter Ended March 31, | ||||
2025 | 2024 | |||
Revenues | ||||
Clearing and transaction fees | $ 1,337.3 | $ 1,208.9 | ||
Market data and information services | 194.5 | 175.4 | ||
Other | 110.5 | 103.6 | ||
Total Revenues | 1,642.3 | 1,487.9 | ||
Expenses | ||||
Compensation and benefits | 206.7 | 206.0 | ||
Technology | 65.7 | 59.4 | ||
Professional fees and outside services | 28.5 | 33.1 | ||
Amortization of purchased intangibles | 55.2 | 55.2 | ||
Depreciation and amortization | 27.3 | 30.1 | ||
Licensing and other fee agreements | 96.6 | 87.9 | ||
Other | 54.3 | 56.6 | ||
Total Expenses | 534.3 | 528.3 | ||
Operating Income | 1,108.0 | 959.6 | ||
Non-Operating Income (Expense) | ||||
Investment income | 892.7 | 1,071.3 | ||
Interest and other borrowing costs | (41.7) | (39.9) | ||
Equity in net earnings of unconsolidated subsidiaries | 88.2 | 87.2 | ||
Other non-operating income (expense) | (802.4) | (964.8) | ||
Total Non-Operating Income (Expense) | 136.8 | 153.8 | ||
Income before Income Taxes | 1,244.8 | 1,113.4 | ||
Income tax provision | 288.6 | 258.2 | ||
Net Income | $ 956.2 | $ 855.2 | ||
Net Income Attributable to Common Shareholders of CME Group | $ 944.2 | $ 844.4 | ||
Earnings per Share Attributable to Common Shareholders of CME Group: | ||||
Basic | $ 2.63 | $ 2.35 | ||
Diluted | 2.62 | 2.35 | ||
Weighted Average Number of Common Shares: | ||||
Basic | 359,613 | 359,258 | ||
Diluted | 360,227 | 359,833 | ||
CME Group Inc. and Subsidiaries | ||||
Reconciliation of GAAP to non-GAAP Measures | ||||
(dollars in millions, except per share amounts; shares in thousands) | ||||
Quarter Ended March 31, | ||||
2025 | 2024 | |||
Net Income | $ 956.2 | $ 855.2 | ||
Restructuring and severance | 1.1 | 2.8 | ||
Amortization of purchased intangibles(1) | 68.2 | 68.7 | ||
Strategic transaction-related costs (credits) | — | 1.9 | ||
Foreign exchange transaction (gains) losses | 2.3 | (1.8) | ||
Unrealized and realized (gains) losses on investments | 6.5 | (2.5) | ||
Unrealized and realized (gains) losses on assets | — | 0.8 | ||
Litigation matters or settlements | 3.3 | — | ||
Income tax effect related to above | (16.1) | (14.0) | ||
Other income tax items | (1.6) | — | ||
Adjusted Net Income | $ 1,019.9 | $ 911.1 | ||
Adjusted Net Income Attributable to Common Shareholders of CME Group | $ 1,007.1 | $ 899.7 | ||
Earnings per Share Attributable to Common Shareholders of CME Group: | ||||
Basic | $ 2.63 | $ 2.35 | ||
Diluted | 2.62 | 2.35 | ||
Adjusted Earnings per Share Attributable to Common Shareholders of CME Group: | ||||
Basic | $ 2.80 | $ 2.50 | ||
Diluted | 2.80 | 2.50 | ||
Weighted Average Number of Common Shares: | ||||
Basic | 359,613 | 359,258 | ||
Diluted | 360,227 | 359,833 | ||
Preferred shares(2) | 4,584 | 4,584 | ||
1. Includes | ||||
2. Preferred shares have similar rights as common shares without voting rights. | ||||
CME Group Inc. and Subsidiaries | ||||||||||
Quarterly Operating Statistics | ||||||||||
1Q 2024 | 2Q 2024 | 3Q 2024 | 4Q 2024 | 1Q 2025 | ||||||
Trading Days | 61 | 63 | 64 | 64 | 61 | |||||
Quarterly Average Daily Volume (ADV)(1) | ||||||||||
CME Group ADV (in thousands) | ||||||||||
Product Line | 1Q 2024 | 2Q 2024 | 3Q 2024 | 4Q 2024 | 1Q 2025 | |||||
Interest rates | 13,839 | 12,894 | 14,881 | 13,244 | 15,029 | |||||
Equity indexes | 6,856 | 6,779 | 7,407 | 6,343 | 7,997 | |||||
Foreign exchange | 984 | 1,075 | 1,089 | 969 | 1,149 | |||||
Energy | 2,412 | 2,447 | 2,571 | 2,519 | 2,903 | |||||
Agricultural commodities | 1,596 | 1,877 | 1,614 | 1,755 | 1,958 | |||||
Metals | 675 | 868 | 728 | 673 | 732 | |||||
Total | 26,360 | 25,941 | 28,289 | 25,503 | 29,768 | |||||
Venue | ||||||||||
CME Globex | 23,985 | 24,143 | 26,199 | 23,684 | 27,732 | |||||
Open outcry | 1,333 | 825 | 1,096 | 848 | 881 | |||||
Privately negotiated | 1,043 | 974 | 994 | 971 | 1,154 | |||||
Total | 26,360 | 25,941 | 28,289 | 25,503 | 29,768 | |||||
Quarterly Average Rate Per Contract (RPC)(1) | ||||||||||
CME Group RPC | ||||||||||
Product Line | 1Q 2024 | 2Q 2024 | 3Q 2024 | 4Q 2024 | 1Q 2025 | |||||
Interest rates | $ 0.486 | $ 0.484 | $ 0.468 | $ 0.485 | $ 0.476 | |||||
Equity indexes | 0.641 | 0.628 | 0.616 | 0.658 | 0.624 | |||||
Foreign exchange | 0.787 | 0.754 | 0.744 | 0.778 | 0.762 | |||||
Energy | 1.334 | 1.297 | 1.246 | 1.237 | 1.222 | |||||
Agricultural commodities | 1.356 | 1.366 | 1.346 | 1.359 | 1.376 | |||||
Metals | 1.556 | 1.511 | 1.540 | 1.530 | 1.588 | |||||
Average RPC | $ 0.695 | $ 0.708 | $ 0.666 | $ 0.701 | $ 0.686 | |||||
1. ADV and RPC includes futures and options on futures only. |
CME-G
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SOURCE CME Group
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