CME
CME Group Inc.
CME's outlook is improving, though it still trails on the overall score.
GS
The Goldman Sachs Group, Inc.
GS has the edge over CME overall, supported by stronger fundamentals and lower modeled downside.
CME Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CME's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like CME.
GS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
GS's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like GS.
CME PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $289 | -8.3% |
| Forward | 24x | $316 | — |
| Fair | 26x | $314 | -0.4% |
| Current | 26x | $316 | — |
| Expensive | 33x | $405 | +28% |
Historical ranges are pointers, not guarantees.
CME has the edge over GS in the historical PE scenario, which offers more potential upside but is not a forecast.
GS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $528 | -42% |
| Current | 13x | $914 | — |
| Forward | 13x | $914 | — |
| Fair | 14x | $940 | +2.9% |
| Expensive | 17x | $1,214 | +33% |
Historical ranges are pointers, not guarantees.
GS's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
CME Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
CME has the edge over GS on the outlook, with more favorable valuation expectations.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for GS, with profitability improving. However, they disagree widely on these estimates.
CME Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.95 | +6.2% |
| Q3 2026 | $12.19 | +18% |
| Q2 2026 | $11.79 | +14% |
| Q1 2026 | $11.72 | +18% |
| Q4 2025 | $11.16 | +15% |
| Q3 2025 | $10.32 | +8.6% |
| Q2 2025 | $10.33 | +14% |
| Q1 2025 | $9.94 | +13% |
| Q4 2024 | $9.67 | +9.1% |
CME's earnings per share have climbed steadily: $12.19 over the past year, up 18% from the year before, and higher year over year for 21 quarters in a row. Its recent earnings include one-off gains.
GS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $72.35 | +4% |
| Q3 2026 | $69.58 | +41% |
| Q2 2026 | $64.82 | +43% |
| Q1 2026 | $54.75 | +27% |
| Q4 2025 | $51.32 | +27% |
| Q3 2025 | $49.22 | +44% |
| Q2 2025 | $45.37 | +45% |
| Q1 2025 | $43.08 | +68% |
| Q4 2024 | $40.54 | +77% |
GS has the edge over CME on earnings, with stronger typical year-over-year growth.
CME Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +13% |
| Q2 2026 | $1.7B | +0.8% |
| Q1 2026 | $1.9B | +14% |
| Q4 2025 | $1.6B | +8.1% |
| Q3 2025 | $1.5B | -3% |
| Q2 2025 | $1.7B | +10% |
| Q1 2025 | $1.6B | +10% |
| Q4 2024 | $1.5B | +6% |
CME's revenue has grown year over year for four quarters in a row: $1.7B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +2.5 points |
| Q2 2026 | 65% | -1.8 points |
| Q1 2026 | 70% | +2.2 points |
| Q4 2025 | 62% | -0.3 points |
| Q3 2025 | 63% | -1.4 points |
| Q2 2025 | 67% | +1.4 points |
| Q1 2025 | 67% | +3 points |
| Q4 2024 | 62% | +2.1 points |
CME has the edge over GS on profitability, with a higher operating margin.
GS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $18.7B | +23% |
| Q2 2026 | $20.3B | +39% |
| Q1 2026 | $17.2B | +14% |
| Q4 2025 | $13.5B | -3% |
| Q3 2025 | $15.2B | +20% |
| Q2 2025 | $14.6B | +15% |
| Q1 2025 | $15.1B | +6% |
| Q4 2024 | $13.9B | +23% |
GS has the edge over CME on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | +2 points |
| Q2 2026 | 42% | +8.1 points |
| Q1 2026 | 38% | +0.2 points |
| Q4 2025 | 44% | +5.6 points |
| Q3 2025 | 36% | +4.1 points |
| Q2 2025 | 34% | +3.2 points |
| Q1 2025 | 37% | +0.6 points |
| Q4 2024 | 38% | +18 points |
GS's operating margin was 37% last quarter, up 2 points from the same quarter a year ago.
CME Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +13% |
| Q2 2026 | $923.5M | -11% |
| Q1 2026 | $1.2B | +12% |
| Q4 2025 | $1.1B | +11% |
| Q3 2025 | $949.7M | -2.4% |
| Q2 2025 | $1B | +37% |
| Q1 2025 | $1.1B | +26% |
| Q4 2024 | $991.7M | -3.1% |
CME has the edge over GS on cash generation, producing positive trailing cash flow while its opponent burns cash.
GS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +72% |
| Q2 2026 | $5.6B | +7.8% |
| Q1 2026 | -$32.4B | +$5.3B |
| Q4 2025 | -$16.8B | -136% |
| Q3 2025 | $2.1B | +$40.6B |
| Q2 2025 | $5.2B | -6.8% |
| Q1 2025 | -$37.7B | -$9.2B |
| Q4 2024 | $46.2B | +$75.1B |
GS's free cash flow was −$40B over the past year, against $15.8B the year before. Free cash flow isn't a meaningful measure for financial services companies like GS.
CME Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -2.6M shares |
| 1 year | -0.5% | -1.8M shares |
| 3 years | -0.3% | -978K shares |
| 5 years | -0.1% | -347K shares |
| Available history | +0.1% | +402K shares |
CME has 359M diluted shares, about the same as a year ago.
GS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -3.8M shares |
| 1 year | -4.4% | -13.9M shares |
| 3 years | -12% | -42.8M shares |
| 5 years | -15% | -52.8M shares |
| Available history | -20% | -74.4M shares |
GS has the edge over CME on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3B |
| Q2 2026 | $4B |
| Q1 2026 | $5B |
| Q4 2025 | $3B |
| Q3 2025 | $2B |
| Q2 2025 | $3B |
| Q1 2025 | $4.4B |
| Q4 2024 | $2B |
GS spent $15B buying back its own shares over the past year, up 32% from the year before.
CME Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2020 | -0.4x | Net Cash |
| Q2 2020 | -0.4x | Net Cash |
| Q1 2020 | -0.3x | Net Cash |
| Q4 2019 | -0.6x | Net Cash |
CME has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like CME.
GS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.4x | Net Cash |
| Q2 2026 | -6.1x | Net Cash |
| Q1 2026 | -6.7x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -3.5x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.9x | Net Cash |
| Q4 2024 | -4.7x | Net Cash |
GS has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like GS.
CME Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.2 | Neutral |
| Stochastic | 89.3 | Overbought |
CME's weekly RSI is 65 (neutral) and its Stochastic is 89 (overbought).
GS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 16.3 | Oversold |
GS's weekly RSI is 45 (neutral) and its Stochastic is 16 (oversold).
CME PE vs Financial Services Sector
| Metric | CME | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 13x | 99% above |
| PE % | 51 | 63 | 12 pts below |
CME is trading at 26x earnings, a 99% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
GS PE vs Financial Services Sector
| Metric | GS | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.8% above |
| PE % | 46 | 63 | 17 pts below |
GS has the edge over CME on valuation relative to its sector.
CME Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $291.5 | 8.2% above |
| 20 week MA | $275.2 | 15% above |
| 50 week MA | $280.9 | 12% above |
| 100 week MA | $272.5 | 16% above |
| 200 week MA | $238.3 | 32% above |
CME has the edge over GS on trend strength, trading above more of its moving averages.
GS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $895.5 | 2% above |
| 20 week MA | $977.4 | 6.5% below |
| 50 week MA | $945.4 | 3.4% below |
| 100 week MA | $804.5 | 14% above |
| 200 week MA | $602.7 | 52% above |
GS's trend is mixed: it's above three of its five weekly moving averages, and 52% above its 200-week average.
CME Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $202.8 | $178.5 | -12% |
| 2021 | $178.5 | $229.0 | +28% |
| 2022 | $229.0 | $173.3 | -24% |
| 2023 | $173.3 | $210.6 | +22% |
| 2024 | $210.6 | $233.5 | +11% |
| 2025 | $233.5 | $276.7 | +19% |
| 2026 YTD | $276.7 | $315.5 | +14% |
CME has the edge over GS on returns for 2026, with the stronger performance.
GS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $230.7 | $256.2 | +11% |
| 2021 | $256.2 | $385.0 | +50% |
| 2022 | $385.0 | $345.5 | -10% |
| 2023 | $345.5 | $385.8 | +12% |
| 2024 | $385.8 | $576.2 | +49% |
| 2025 | $576.2 | $907.0 | +57% |
| 2026 YTD | $907.0 | $913.6 | +0.7% |
GS has finished higher in five of the last six years, two of them by more than 50%. It's up 0.7% so far in 2026.