Financial Services · Financial - Data & Stock Exchanges
Price
$123.86
Market Cap
$70.0B
Employees
12,842
Beta
0.92
Avg Volume
3,819,370
CEO
Jeffrey C. Sprecher
Business Description
Intercontinental Exchange, Inc. (ICE) manages a global network of regulated financial venues, encompassing exchanges, clearing houses, and listing platforms. These operations serve diverse markets, including commodities, financial instruments, fixed income products, and equities, with a geographical footprint spanning key financial centers such as the United States, United Kingdom, European Union, Singapore, Israel, and Canada. The company's business is segmented into three core areas: Exchanges, Fixed Income and Data Services, and Mortgage Technology. Within its Exchanges segment, ICE oversees a robust network comprising 13 regulated exchanges and 6 clearing houses. These extensive marketplaces enable the listing, trading, and clearing of a wide spectrum of derivatives contracts and financial securities. This includes futures and options across diverse sectors such as energy, agriculture, metals, financials, and equities, in addition to providing critical listing, market data, and connectivity solutions. The Fixed Income and Data Services division provides comprehensive analytics and execution services for fixed income products, manages Credit Default Swap (CDS) clearing, and offers multi-asset class data and network solutions. Furthermore, its Mortgage Technology segment delivers an advanced, proprietary platform designed for residential mortgage origination. This division also provides closing solutions that streamline connections across the mortgage supply chain and facilitate secure information exchange, alongside data analytics and "Data as a Service" offerings for lenders to access vital origination insights. Intercontinental Exchange, Inc. was established in 2000 and maintains its headquarters in Atlanta, Georgia.
Business History
Price Overview
Last updated: Jun 29, 2026 4:50am (just now)$123.86
-0.63 (-0.51%)
Day Range
$123.75 – $127.86
52-Week Range
$123.74 – $189.35
50-Day MA
$148.44
200-Day MA
$157.93
Volume
5,956,466.00
Analyst Price Targets
Low
$177.00
Consensus
$194.00
High
$211.00
(51 analysts)
Share Structure
Outstanding
565,512,495.00
Float
561,621,769.00
Free Float
99.3%
High free float
— 99.3% of shares trade freely, ~0.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
17.92
Stock Price: $123.86
EPS (Diluted): 5.80
EPS (Diluted): 5.80
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.20
Stock Price: $123.86
Total Equity: $28.92B
Shares: 571,140,940
Total Equity: $28.92B
Shares: 571,140,940
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
13.50
Market Cap: $70.04B
Total Debt: $19.64B
Cash: $837.00M
EBITDA: $6.64B
Total Debt: $19.64B
Cash: $837.00M
EBITDA: $6.64B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$111.9B
Market Cap: $70.04B
Total Debt: $19.64B
Cash: $837.00M
Total Debt: $19.64B
Cash: $837.00M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
61.9%
Gross Profit: $7.82B
Revenue: $12.64B
Revenue: $12.64B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
38.7%
Operating Income: $4.90B
Revenue: $12.64B
Revenue: $12.64B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
26.1%
Net Income: $3.30B
Revenue: $12.64B
Revenue: $12.64B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
13.6%
Net Income: $3.30B
Total Equity: $28.92B
Total Equity: $28.92B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
7.4%
Operating Income: $4.90B
Tax Rate: 22.8%
Equity: $28.92B
Total Debt: $19.64B
Cash: $837.00M
Tax Rate: 22.8%
Equity: $28.92B
Total Debt: $19.64B
Cash: $837.00M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.02
Current Assets: $85.78B
Current Liabilities: $84.12B
Current Liabilities: $84.12B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.68
Short-Term Debt: $1.04B
Long-Term Debt: $18.61B
Total Debt: $19.64B
Total Equity: $28.92B
Long-Term Debt: $18.61B
Total Debt: $19.64B
Total Equity: $28.92B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$22.13
Revenue: $12.64B
Shares: 571,140,940
Shares: 571,140,940
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$50.63
Total Equity: $28.92B
Shares: 571,140,940
Shares: 571,140,940
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.51
Operating CF: $4.66B
CapEx: -$373.00M
Shares: 571,140,940
CapEx: -$373.00M
Shares: 571,140,940
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.2%
Last Dividend: N/A
Stock Price: $123.86
Stock Price: $123.86
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $3.30B
Net Income: $3.30B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ICE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 29, 2026 4:50am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $9.2B | $9.6B | $9.9B | $11.8B | $12.6B |
| Cost of Revenue | $4.2B | $4.4B | $4.2B | $5.2B | $4.8B |
| Gross Profit | $5.0B | $5.2B | $5.7B | $6.5B | $7.8B |
| Operating Expenses | $1.6B | $1.6B | $2.0B | $2.2B | $2.9B |
| Operating Income | $3.4B | $3.6B | $3.7B | $4.3B | $4.9B |
| Net Income | $4.1B | $1.4B | $2.4B | $2.8B | $3.3B |
| EBITDA | $7.1B | $3.5B | $4.9B | $6.1B | $6.6B |
| EPS | $7.22 | $2.59 | $4.20 | $4.80 | $5.80 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 29, 2026 4:50am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $607.0M | $1.8B | $899.0M | $844.0M | $837.0M |
| Total Current Assets | $154.3B | $156.9B | $85.0B | $89.1B | $85.8B |
| Total Assets | $193.5B | $194.3B | $136.1B | $139.4B | $136.9B |
| Current Liabilities | $153.4B | $149.2B | $84.6B | $89.6B | $84.1B |
| Long-Term Debt | $12.4B | $18.1B | $20.7B | $17.3B | $18.6B |
| Total Liabilities | $170.8B | $171.6B | $110.3B | $111.7B | $107.9B |
| Total Equity | $22.7B | $22.7B | $25.7B | $27.6B | $28.9B |
| Retained Earnings | $14.4B | $14.9B | $16.4B | $18.1B | $20.3B |
Cash Flow (Annual)
Last updated: Jun 29, 2026 4:50am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $3.1B | $3.6B | $3.5B | $4.6B | $4.7B |
| Capital Expenditure | -$452.0M | -$482.0M | -$489.0M | -$406.0M | -$373.0M |
| Free Cash Flow | $2.7B | $3.1B | $3.1B | $4.2B | $4.3B |
| Acquisitions (net) | $1.1B | -$59.0M | -$10.2B | -$38.0M | -$19.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$320.0M | -$705.0M | -$78.0M | -$81.0M | -$1.4B |
| Net Change in Cash | $64.4B | $2.4B | -$69.6B | $3.8B | $3.6B |
Analyst Estimates (Annual)
Last updated: Jun 29, 2026 4:50am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$11.6B $11.0B – $11.8B
|
$12.3B $12.2B – $12.3B
|
$12.9B $12.3B – $13.3B
|
$14.1B $13.5B – $14.5B
|
| EBITDA |
$6.2B $5.9B – $6.3B
|
$6.6B $6.5B – $6.6B
|
$6.9B $6.6B – $7.1B
|
$7.6B $7.2B – $7.8B
|
| Net Income |
$5.1B $4.7B – $5.4B
|
$5.4B $5.0B – $5.8B
|
$6.1B $5.8B – $6.3B
|
$7.1B $6.7B – $7.3B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 29, 2026 4:50am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +5.1% | +2.8% | +18.8% | +7.5% |
| Gross Profit Growth | +3.7% | +8.8% | +15.3% | +19.9% |
| Operating Income Growth | +5.5% | +1.5% | +16.6% | +13.6% |
| Net Income Growth | -64.4% | +63.8% | +16.3% | +20.0% |
| EBITDA Growth | -51.5% | +42.3% | +23.6% | +9.3% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-12 | Hague William Jefferson | S-Sale | 1,333.00 | $139.46 | $185,900 |
| 2026-06-09 | Hague William Jefferson | S-Sale | 91.00 | $138.50 | $12,604 |
| 2026-05-26 | Surdykowski Andrew J | M-Exempt | 2,065.00 | $57.31 | $118,345 |
| 2026-05-26 | Surdykowski Andrew J | S-Sale | 1,965.00 | $150.97 | $296,662 |
| 2026-05-26 | Surdykowski Andrew J | S-Sale | 2,608.00 | $152.00 | $396,411 |
| 2026-05-26 | Surdykowski Andrew J | M-Exempt | 2,065.00 | $57.31 | $118,345 |
| 2026-05-22 | Bowen Sharon | S-Sale | 667.00 | $151.28 | $100,904 |
| 2026-05-18 | Farooqui Duriya M | A-Award | 1,538.00 | $0.00 | $0 |
| 2026-05-18 | Hague William Jefferson | A-Award | 1,538.00 | $0.00 | $0 |
| 2026-05-18 | Hague William Jefferson | F-InKind | 50.00 | $0.00 | $0 |
| 2026-05-19 | Gardiner Warren | S-Sale | 2,490.00 | $156.64 | $390,034 |
| 2026-05-18 | Mulhern Mark F | A-Award | 1,538.00 | $0.00 | $0 |
| 2026-05-18 | Pinto Daniel E | A-Award | 1,538.00 | $0.00 | $0 |
| 2026-05-18 | Silver Caroline Louise | A-Award | 1,698.00 | $0.00 | $0 |
| 2026-05-18 | Silver Caroline Louise | F-InKind | 64.00 | $0.00 | $0 |
| 2026-05-18 | Cooper Shantella E. | A-Award | 1,538.00 | $0.00 | $0 |
| 2026-05-18 | Tirinnanzi Martha A | A-Award | 1,698.00 | $0.00 | $0 |
| 2026-05-18 | Hill Jonathan Hopkin | A-Award | 1,698.00 | $0.00 | $0 |
| 2026-05-18 | Hill Jonathan Hopkin | F-InKind | 27.00 | $0.00 | $0 |
| 2026-05-18 | Bowen Sharon | A-Award | 1,538.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 29, 2026 4:50am (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-12-16 | $0.52 | 2026-02-05 | 2026-12-16 | 2026-12-31 |
| 2026-09-16 | $0.52 | 2026-02-05 | 2026-09-16 | 2026-09-30 |
| 2026-06-15 | $0.52 | 2026-02-05 | 2026-06-15 | 2026-06-30 |
| 2026-03-17 | $0.52 | 2026-02-05 | 2026-03-17 | 2026-03-31 |
| 2025-12-16 | $0.48 | 2025-02-06 | 2025-12-16 | 2025-12-31 |
| 2025-09-16 | $0.48 | 2025-02-06 | 2025-09-16 | 2025-09-30 |
| 2025-06-13 | $0.48 | 2025-02-06 | 2025-06-13 | 2025-06-30 |
| 2025-03-17 | $0.48 | 2025-02-06 | 2025-03-17 | 2025-03-31 |
| 2024-12-16 | $0.45 | 2024-02-08 | 2024-12-16 | 2024-12-31 |
| 2024-09-16 | $0.45 | 2024-02-08 | 2024-09-16 | 2024-09-30 |
| 2024-06-13 | $0.45 | 2024-02-08 | 2024-06-13 | 2024-06-28 |
| 2024-03-14 | $0.45 | 2024-02-08 | 2024-03-15 | 2024-03-29 |
| 2023-12-13 | $0.42 | 2023-11-02 | 2023-12-14 | 2023-12-29 |
| 2023-09-14 | $0.42 | 2023-08-03 | 2023-09-15 | 2023-09-29 |
| 2023-06-14 | $0.42 | 2023-05-04 | 2023-06-15 | 2023-06-30 |
| 2023-03-16 | $0.42 | 2023-02-02 | 2023-03-17 | 2023-03-31 |
| 2022-12-14 | $0.38 | 2022-11-03 | 2022-12-15 | 2022-12-30 |
| 2022-09-15 | $0.38 | 2022-08-04 | 2022-09-16 | 2022-09-30 |
| 2022-06-14 | $0.38 | 2022-05-05 | 2022-06-15 | 2022-06-30 |
| 2022-03-16 | $0.38 | 2022-02-03 | 2022-03-17 | 2022-03-31 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ICE — it's generated by the pipeline (
market-narrative step).
No community reviews yet for ICE.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30