Intercontinental Exchange, Inc. ICE SPX

Financial Services · Financial Data & Stock Exchanges · United States

https://www.ice.com

Intercontinental Exchange, Inc., together with its subsidiaries, provides technology and data to financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Canada, Asia Pacific, and the Middle East. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment operates regulated marketplace technology for the listing, trading, and clearing of an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange and equities, and corporate and exchange-traded funds, as well as data and connectivity services related to its exchanges and clearing houses. The Fixed Income and Data Services segment provides fixed income pricing, reference data, indices, analytics, and execution services, as well as global CDS clearing and multi-asset class data delivery technology. The Mortgage Technology segment offers a technology platform that provides customers comprehensive and digital workflow tools to address inefficiencies and mitigate risks that exist in the U.S. residential mortgage market life cycle from application through closing, servicing, and the secondary market. The company was founded in 2000 and is headquartered in Atlanta, Georgia.

Market & Price

Market Cap

$83.61B

Current Price

$147.85

High / Low (52W)

$186.76 / $144.69

Beta

0.96

Valuation

Stock P/E

21.49

Industry PE

12.01

Forward P/E

16.77

PEG Ratio

2.29

Book Value

$52.08

Price to Book

2.84

P/S

8.01

EV/EBITDA

15.67

Dividend Yield

1.41%

Profitability & Returns

ROCE

9.76%

ROE

13.85%

ROA

2.11%

Profit Margin

37.67%

Op Margin

57.31%

EPS (Latest Qtr)

$2.48

EPS (TTM)

$6.88

Balance Sheet & Liquidity

Debt/Equity

0.71

Quick Ratio

0.03

Current Ratio

1.01

Debt

$20.98B

Total Assets

$136.89B

Current Assets

$85.78B

Working Capital

$1.66B

Ownership

Promoter Holding

0.81%

Chg in Prom Hold

FII / Inst Holding

95.76%

Chg in FII Hold

-0.01%

Financial Snapshot

Enterprise Value

$103.82B

Total Revenue (TTM)

$10.44B

EBITDA

$6.62B

Free Cash Flow

$3.74B

Operating Cash Flow

$5.02B

Shares Outstanding

565.51M

Gross Margin

100.00%

Payout Ratio

28.53%

Growth (CAGR)

Revenue 5Y

9.47%

Profit 5Y

31.86%

Revenue (YoY)

20.40%

Earnings (YoY)

79.70%

PROS

Excellent profit margin of 37.7%.
Profit CAGR of 31.9% over 5 years.
Generates positive free cash flow.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ICE Intercontinental Exchange, Inc. SPX	147.85	21.49	$83.61B	1.41%	9.76%	13.85%	9.47%	31.86%
2	JPM JPMorgan Chase & Co. SPX	299.31	14.33	$802.00B	2.00%	-	16.47%	12.50%	14.83%
3	V Visa Inc. SPX	326.36	28.48	$620.65B	0.82%	38.38%	60.35%	10.92%	10.28%
4	MA Mastercard Incorporated SPX	493.98	28.57	$436.47B	0.70%	61.47%	-	13.82%	14.66%
5	MS Morgan Stanley SPX	208.00	18.84	$328.08B	1.92%	-	16.39%	9.52%	15.20%
6	GS The Goldman Sachs Group, Inc. SPX	1,025.56	18.73	$302.55B	1.76%	-	14.55%	7.16%	15.11%
7	WFC Wells Fargo & Company SPX	77.54	11.98	$237.29B	2.32%	-	12.03%	4.02%	15.98%
8	BLK BlackRock, Inc. SPX	1,046.88	26.32	$162.51B	2.19%	4.89%	11.90%	10.65%	2.36%
9	SCHW The Charles Schwab Corporation SPX	87.35	17.37	$151.91B	1.47%	-	19.08%	4.83%	7.21%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	1.50B	1.44B	-	1.58B	1.56B	1.46B	-	1.58B	1.63B	1.66B	-	2.12B	1.97B	1.93B	-	2.43B	2.13B	2.28B	2.46B	2.41B	2.39B	2.47B	2.34B	2.43B	2.80B	2.90B	3.03B	3.23B	3.26B	3.01B	3.14B	3.67B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.45B	1.43B	1.30B	1.36B	1.43B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.34B	-	-	-	1.41B	-	-	-	-	-	-	-	-	-	-	-	-	-	1.78B	1.83B	1.71B	1.78B	2.23B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	526.00M	522.00M	526.00M	525.00M	528.00M
Operating Income	551.00M	474.00M	418.00M	584.00M	551.00M	474.00M	558.00M	582.00M	609.00M	596.00M	592.00M	650.00M	655.00M	602.00M	676.00M	665.00M	680.00M	706.00M	622.00M	882.00M	744.00M	627.00M	780.00M	892.00M	799.00M	878.00M	992.00M	869.00M	913.00M	969.00M	955.00M	845.00M	1.06B	1.07B	1.10B	1.25B	1.31B	1.18B	1.26B	1.71B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.66B	1.73B	1.66B	1.66B	2.48B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	206.00M	201.00M	192.00M	204.00M	203.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.07B	1.13B	1.08B	1.07B	1.90B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	255.00M	267.00M	250.00M	204.00M	465.00M
Net Income	357.00M	344.00M	370.00M	369.00M	357.00M	344.00M	352.00M	503.00M	419.00M	371.00M	1.23B	464.00M	455.00M	458.00M	611.00M	484.00M	472.00M	529.00M	448.00M	650.00M	523.00M	390.00M	526.00M	646.00M	1.25B	633.00M	657.00M	555.00M	-191.00M	655.00M	799.00M	541.00M	767.00M	632.00M	657.00M	797.00M	851.00M	816.00M	851.00M	1.41B
Diluted EPS	112,000,000.00	2.76	660,000.00	0.62	0.60	0.57	0.59	0.84	0.71	0.63	2.09	0.79	0.78	0.79	1.07	0.85	0.84	0.94	0.80	1.17	0.95	0.71	0.93	1.14	2.22	1.12	1.16	0.99	-0.34	1.17	1.42	0.96	1.33	1.10	1.14	1.38	1.48	1.42	1.49	2.48

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	3.34B	5.97B	5.84B	6.28B	6.55B	8.24B	9.17B	9.64B	9.90B	11.76B	12.64B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	4.43B	4.24B	5.24B	5.54B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	5.20B	5.66B	6.52B	7.10B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	1.47B	1.70B	2.11B	2.10B
Operating Income	793.00M	827.00M	790.00M	1.45B	1.75B	2.17B	2.38B	2.58B	2.67B	3.03B	3.45B	3.73B	3.96B	4.41B	5.00B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	3.46B	4.92B	6.08B	6.71B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	616.00M	808.00M	910.00M	803.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	1.81B	2.89B	3.63B	4.35B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	310.00M	456.00M	826.00M	976.00M
Net Income	510.00M	552.00M	254.00M	981.00M	1.27B	1.43B	2.53B	1.99B	1.93B	2.09B	4.06B	1.45B	2.37B	2.75B	3.31B
Diluted EPS	6.90	7.52	3.21	1.71	2.28	2.39	4.25	3.43	3.42	3.77	7.18	2.58	4.19	4.78	5.77

Compounded Sales Growth

5 Years:	9.47%
1 Year:	20.40%

Compounded Profit Growth

5 Years:	31.86%
1 Year:	79.70%

Stock Price Performance

1 Year:	-16.80%
6 Months:	-4.61%
3 Months:	-9.63%
1 Month:	-5.34%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	37.22B	64.42B	68.25B	77.99B	82.00B	78.26B	92.79B	94.49B	126.20B	-	194.34B	136.08B	139.43B	136.89B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	156.95B	84.97B	89.09B	85.78B
Cash & Equivalents	961.00M	823.00M	961.00M	961.00M	1.28B	1.55B	1.35B	1.57B	-	-	-	-	1.80B	899.00M	844.00M	837.00M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	1.17B	1.37B	1.49B	1.55B
Total Liabilities	-	-	33.54B	51.72B	55.70B	63.11B	66.21B	61.28B	75.49B	77.13B	106.57B	-	171.58B	110.30B	111.71B	107.90B
Current Liabilities	-	-	32.25B	44.32B	50.44B	54.74B	58.62B	54.17B	66.11B	68.82B	88.00B	-	149.17B	84.63B	89.55B	84.12B
Long Term Debt	-	-	969.00M	3.92B	2.23B	4.72B	3.87B	4.27B	6.49B	5.25B	14.13B	-	18.12B	20.66B	17.34B	18.61B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	18.38B	22.91B	20.70B	20.28B
Total Equity	-	-	3.64B	12.35B	12.36B	14.81B	15.72B	16.96B	17.20B	17.25B	19.50B	-	22.71B	25.72B	27.65B	28.91B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	634.00M	649.00M	651.18M	653.00M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	713.00M	733.00M	714.00M	1.46B	1.31B	2.15B	2.08B	2.53B	2.66B	2.88B	-	3.55B	3.54B	4.61B	4.66B
Investing Cash Flow	-615.00M	-118.00M	-2.52B	36.00M	-3.00B	-860.00M	92.00M	-1.75B	-1.74B	-10.36B	-	677.00M	-8.80B	-921.00M	-4.25B
Financing Cash Flow	105.00M	172.00M	1.12B	-1.67B	1.98B	-1.46B	-1.97B	-463.00M	-424.00M	26.00B	-	-1.84B	-64.34B	79.00M	-6.33B
Capital Expenditure	-57.00M	-32.00M	-134.00M	-172.00M	-190.00M	-250.00M	-220.00M	-134.00M	-153.00M	-207.00M	-	-482.00M	-489.00M	-752.00M	-791.00M
Free Cash Flow	656.00M	701.00M	580.00M	1.29B	1.12B	1.90B	1.86B	2.40B	2.51B	2.67B	-	3.07B	3.05B	3.86B	3.87B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	2.39B	-69.60B	3.77B	-5.92B
Share Buybacks	175.00M	53.00M	0	645.00M	660.00M	50.00M	949.00M	1.20B	1.46B	1.25B	250.00M	632.00M	0	0	1.29B
Dividends Paid	-	-	75.00M	299.00M	331.00M	409.00M	-	-	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	54.0%	57.1%	55.5%	56.2%
Operating Margin %	-	-	-	-	52.4%	36.4%	40.7%	41.2%	40.8%	36.8%	37.6%	38.7%	40.0%	37.5%	39.5%
Net Margin %	-	-	-	-	38.2%	23.9%	43.2%	31.7%	29.5%	25.3%	44.3%	15.0%	23.9%	23.4%	26.2%
ROE %	-	15.1%	2.1%	7.9%	8.6%	9.1%	14.9%	11.6%	11.2%	10.7%	-	6.4%	9.2%	10.0%	11.5%
ROCE %	-	16.6%	3.9%	8.1%	7.5%	9.3%	9.9%	9.7%	10.4%	7.9%	-	8.3%	7.7%	8.8%	9.5%

Shareholding Pattern

Insiders

0.81%

Institutions

95.76%

Public Float

96.55%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	9.35%	52.90M	$7.82B
2	Vanguard Capital Management LLC	6.53%	36.91M	$5.46B
3	State Street Corporation	4.52%	25.55M	$3.78B
4	Harris Associates L.P.	2.89%	16.34M	$2.42B
5	Morgan Stanley	2.56%	14.49M	$2.14B
6	Geode Capital Management, LLC	2.26%	12.77M	$1.89B
7	Vanguard Portfolio Management LLC	2.09%	11.81M	$1.75B
8	JPMORGAN CHASE & CO	1.90%	10.74M	$1.59B
9	Price (T.Rowe) Associates Inc	1.90%	10.76M	$1.59B
10	Wellington Management Group, LLP	1.80%	10.18M	$1.50B

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