Intercontinental Exchange, Inc. (ICE)
Financials · Financial Exchanges & Data · US stock · S&P 500 component
$161.56
▲ +3.15 (1.99%)
Fair valueFair
$159 −1.7% to fair value
$79fair band $111–$206$238
Day's range
$158.38 – $161.69
52-week range
$121.39 – $174.25
About Intercontinental Exchange, Inc.
Intercontinental Exchange operates regulated exchanges, clearing houses and data services for financial and commodity markets. It owns the New York Stock Exchange and a group of futures exchanges covering energy, agricultural and financial contracts, and it runs clearing houses that process and settle trades. It also provides fixed income pricing and market data, and mortgage technology used by lenders. Customers include traders, banks, listed companies, asset managers and mortgage lenders.
Income arrives as transaction fees on trading and clearing, listing fees, subscriptions to data and software used in the mortgage process. Revenue was $13.4 billion over the last twelve months, with growth of 9.5% a year across the last three years. The operating margin is 40.7%, and net debt is 3.0 times EBITDA. The dividend yield is 1.3%. On the site's X-Ray Score it receives 49 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $121.39 – $174.25Volume 2,876,600Daily, split-adjusted
Vitals
Market cap$91.4B
52-week range$121.39 – $174.25
Volume (last day)2,876,600
P/E (TTM)22.9
EBIT / EV yield4.8%
Free-cash-flow yield5.6%
Dividend yield1.3%
Revenue (TTM)$13.4B
Net income (TTM)$4.0B
Operating margin40.7%
Return on capital8.3%
Debt incl. leases$22.3B
Cash & securities$1.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$159model spread $142 – $177
Fair
−1.7% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $162
Undervalued < $111Fair $111 – $206Overvalued > $206
10-year DCF (market-scaled)
$223
Peer multiples
$97
Earnings power floor (not blended)
$72
Fundamentals-adjusted multiple
$156
Growth the price implies
8.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Valuation
Weak
39/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.8%
Free-cash-flow yield5.6%
Fair value vs price1.0×
Growth
Fair
56/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)9.5%
EPS growth (3y)30.8%
Growth consistency90%
Profitability
Fair
58/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital8.3%
Operating margin40.7%
Financial health
Weak
43/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score9 / 9
Net debt / EBITDA3.0×
Interest cover6.8×
Dividends
Fair
55/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.3%
Dividends vs free cash flow23%
Dividend growth9.0%
Quarterly results: last 6 quarters
+15.3%
Mar '25
+12.6%
Jun '25
-0.9%
Sep '25
+3.7%
Dec '25
+13.5%
Mar '26
+10.7%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.6B, diluted EPS $1.69.
Compare with peers
CBOE Cboe Global Markets, I...64 MCO Moodys Corp62 FDS Factset Research Syste...59 MSCI MSCI Inc.56Other Financial Exchanges & Data companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 6 Average · ● 6 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Average
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 44/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $9.2B | $9.6B | $9.9B | $11.8B | $12.6B |
| Operating income | $3.4B | $3.6B | $3.7B | $4.3B | $4.9B |
| Net income | $4.1B | $1.4B | $2.4B | $2.8B | $3.3B |
| Operating cash flow | $3.1B | $3.6B | $3.5B | $4.6B | $4.7B |
| Operating margin | 37.6% | 37.8% | 37.3% | 36.6% | 39.0% |
| Free cash flow | $2.9B | $3.3B | $3.4B | $4.2B | $4.3B |
| Diluted EPS | $7.18 | $2.58 | $4.19 | $4.78 | $5.77 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 155.9 | Bullish |
| EMA 10 | 156.6 | Bullish |
| SMA 20 | 154.7 | Bullish |
| EMA 20 | 155.7 | Bullish |
| SMA 50 | 156.0 | Bullish |
| EMA 50 | 154.1 | Bullish |
| SMA 100 | 147.8 | Bullish |
| EMA 100 | 152.6 | Bullish |
| SMA 200 | 153.8 | Bullish |
| EMA 200 | 153.5 | Bullish |
Oscillators (daily)
| RSI (14) | 64.11 | Neutral |
| MACD (12, 26) | 0.85 | Bullish |
| Momentum (12) | 6.27 | Bullish |
| Stochastic %K (14) | 99.08 | Bearish |
| Williams %R (14) | -0.92 | Bearish |
| CCI (20) | 193.5 | Bearish |
Pivot points (classic, last session)
S3 156.1 | S2 157.2 | S1 159.4 | Pivot 160.5 | R1 162.7 | R2 163.9 | R3 166.0 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.04 USD
Yield on today's price
1.26%
Frequency
Quarterly
Next ex-dividend date
16 Dec 2026
| Ex-dividend date | Amount per share |
|---|---|
| 16 Dec 2026 (upcoming) | 0.5200 |
| 16 Sep 2026 | 0.5200 |
| 15 Jun 2026 | 0.5200 |
| 17 Mar 2026 | 0.5200 |
| 16 Dec 2025 | 0.4800 |
| 16 Sep 2025 | 0.4800 |
| 13 Jun 2025 | 0.4800 |
| 17 Mar 2025 | 0.4800 |
| 16 Dec 2024 | 0.4500 |
| 16 Sep 2024 | 0.4500 |
| 13 Jun 2024 | 0.4500 |
| 14 Mar 2024 | 0.4500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ICE SEC filings
28 Aug 2026
8-KSEC EDGAR
Current report
21 Aug 2026
8-KSEC EDGAR
Entered a material agreement
20 Aug 2026
8-KSEC EDGAR
Other events
13 Aug 2026
424B5SEC EDGAR
424B5
11 Aug 2026
424B5SEC EDGAR
424B5
30 Jul 2026
10-QSEC EDGAR
Quarterly report
30 Jul 2026
8-KSEC EDGAR
Entered a material agreement; Regulation FD disclosure
30 Jul 2026
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.