| Stage | NDAQ | % of rev | CME | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.4B | 100.00% | $1.7B | 100.00% | NDAQ ×1.38 |
| Gross profit | $1.1B | 46.05% | $1.5B | 86.51% | CME +40.5pp |
| Operating income | $732M | 30.59% | $1.1B | 65.70% | CME +35.1pp |
| Pre-tax income | $701M | 29.29% | $1.4B | 77.98% | CME +48.7pp |
| Net income | $539M | 22.52% | $1.0B | 59.68% | CME +37.2pp |
| Stage | NDAQ | CME | Gap · A − B |
|---|---|---|---|
| Revenue | $2.4B100.00% | $1.7B100.00% | NDAQ ×1.38 |
| Gross profit | 46.05%$1.1B | 86.51%$1.5B | CME +40.5pp |
| Operating income | 30.59%$732M | 65.70%$1.1B | CME +35.1pp |
| Pre-tax income | 29.29%$701M | 77.98%$1.4B | CME +48.7pp |
| Net income |
| 22.52%$539M |
| 59.68%$1.0B |
| CME +37.2pp |
NDAQ · TFSL 10-KNov 25 '25
“Our common stock is listed and traded on the NASDAQ Global Select Market under the symbol "TFSL".”
CME · TFSL 10-KNov 25 '25
“Each of the Association's swap agreements is registered on the Chicago Mercantile Exchange and involves the exchange of interest payment amounts based on a notional principal balance.”