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ICEIntercontinental Exchange, Inc.
$136.45$77.2B
Overview & Verdict
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ICE logoIntercontinental Exchange, Inc.(ICE)Earnings, Financials & Key Ratios

ICE•NYSE
$136.45
23.6× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryFinancial Data & ExchangesSub-IndustryExchanges, Clearing and Trading Venues
AboutIntercontinental Exchange, Inc., together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The company operates marketplaces for listing, trading, and clearing an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange, and equities, as well as corporate and exchange-traded funds; trading venues, including 13 regulated exchanges and 6 clearing houses; and offers futures and options products for energy, agricultural and metals, financial, cash equities and equity, over-the-counter, and other markets, as well as listings and data and connectivity services. It also provides fixed income data and analytic, fixed income execution, CDS clearing, and other multi-asset class data and network services. In addition, the company offers proprietary and comprehensive mortgage origination platform, which serves residential mortgage loans; closing solutions that provides customers connectivity to the mortgage supply chain and facilitates the secure exchange of information; data and analytics services; and Data as a Service for lenders to access data and origination information. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.Show more
  • EBITDA$6.46B+10.4%
  • Net Income$3.3B+20.0%
  • EPS (Diluted)5.77+20.7%
  • Gross Margin61.88%+11.6%
  • EBITDA Margin51.08%+2.8%
  • Operating Margin38.74%+5.7%
  • Net Margin26.14%+11.6%
  • ROE11.65%+13.2%

ICE Price & Volume

Intercontinental Exchange, Inc. (ICE) stock price & volume — 10-year historical chart

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Diversified Revenue Streams Drive Margin Expansion Success

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Expanding
Profitability:Strong
Financial:Healthy
Cash Flow:Robust
Primary Risk:Mortgage market cyclicality

Key Thesis Takeaways

  • Intercontinental Exchange is successfully transitioning toward a recurring revenue model, evidenced by a 2026Q1 revenue of $3.7 billion and a significant gross margin expansion to 81.2%.
  • While the integration of large-scale acquisitions like Black Knight remains a complex operational challenge, the firm's ability to maintain a debt-to-equity ratio of 0.71 suggests disciplined capital management.
  • Investors should monitor the sustainability of these margins against potential volatility in mortgage technology integration costs and the firm's reliance on $30.6 billion in goodwill.

Verdict Logic

Positive: The company's ability to scale revenue to $3.7 billion in 2026Q1 while maintaining a forward P/E of 15.26 suggests that the market may be underestimating the long-term value of its recurring data and mortgage technology segments.

ICE Growth Metrics

Intercontinental Exchange, Inc. (ICE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.44%
5 Years8.92%
3 Years9.46%
TTM-

Profit CAGR

10 Years10%
5 Years9.6%
3 Years31.71%
TTM40.8%

EPS CAGR

10 Years9.73%
5 Years8.88%
3 Years30.77%
TTM42.24%

Return on Capital

10 Years9.23%
5 Years8.61%
3 Years8.56%
Last Year9.54%

ICE Recent Earnings

Intercontinental Exchange, Inc. (ICE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 30, 2026
Metric
Actual
Est
EPS
$2.35+5.4%
$2.23
Rev
$3.0B+3.4%
$2.9B
Q1 2026
Feb 5, 2026
Metric
Actual
Est
EPS
$1.71+1.8%
$1.68
Rev
$2.5B+1.3%
$2.5B
Q4 2025
Oct 30, 2025
Metric
Actual
Est
EPS
$1.71+6.9%
$1.60
Rev
$3.0B+24.6%
$2.4B
Q3 2025
Jul 31, 2025
Metric
Actual
Est
EPS
$1.81+2.3%
$1.77
Rev
$3.3B+28.6%
$2.5B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$2.35vs $2.23+5.4%
$3.0Bvs $2.9B+3.4%
Q1 2026Feb 5, 2026
$1.71vs $1.68+1.8%
$2.5Bvs $2.5B+1.3%
Q4 2025Oct 30, 2025
$1.71vs $1.60+6.9%
$3.0Bvs $2.4B+24.6%
Q3 2025Jul 31, 2025
$1.81vs $1.77+2.3%
$3.3Bvs $2.5B+28.6%
Based on last 12 quarters of dataView full earnings history →

Latest ICE News

Recent stock market news and headlines for Intercontinental Exchange, Inc. (ICE)

Business Wire·1 day ago
ICE Mortgage Monitor: Gen Z Accounts for Record 1 in 5 Purchase Mortgage Locks

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today released its July 2026 ICE Mortgage Monitor report. The analysis found that Gen Z accounted for 1 in 5 purchase rate locks in Q2 2026 — the largest share on record. Meanwhile, buyers across all generations are tapping non-traditional down payment sources to bridge affordability gaps as home price appr.

Business Wire·1 day ago
Intercontinental Exchange Reports June and Second Quarter 2026 Statistics

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today reported June 2026 trading volume and related revenue statistics, which can be viewed on the company's investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet. “For over 25 years, ICE has built and scaled technology that.

Business Wire·6 days ago
ICE and NATIVX to Launch Energy-Normalized Compute Futures Contracts

ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, and NATIVX, the public exchange for compute, today announced plans to launch GPU compute futures contracts based on NATIVX's COIL Index, which tracks the price of tokenized, energy-normalized compute and connectivity. "Driven by the transformative force of AI, compute has quickly become an important asset.

24/7 Wall Street·Jun 29, 2026
Trump Bought Up to $5 Million of Taser Maker Axon, Two Weeks Before ICE's $220 Million Order

A CNBC report by Luke Fountain, aired June 29, 2026, walks through a sequence that government watchdogs have flagged and the White House has rejected.

Business Wire·Jun 29, 2026
ICE to Launch Economic Indicator Futures Contracts

LONDON & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), one of the world's leading providers of financial market technology and data powering global capital markets, today announced the planned launch of its first economic indicator futures contracts tied to global monetary policy decisions and US natural gas storage reports. The cash-settled futures contracts are designed to give market participants exchange-traded and centrally-cleared instruments to express views on s.

Peers Comparison

Key metrics vs top competitors for Intercontinental Exchange, Inc. (ICE)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ICE logoICEIntercontinental Exchange, Inc.Current
$136.45$77.16B23.657.46%26.14%11.65%1.42%
CME logoCMECME Group Inc.
$240.75$87.35B21.576.37%62.77%15.25%—
CBOE logoCBOECboe Global Markets, Inc.
$258.64$27.07B24.8215.13%25.77%24.63%—
NDAQ logoNDAQNasdaq, Inc.
$86.43$49.13B27.9711.05%23.15%15.9%—
MKTX logoMKTXMarketAxess Holdings Inc.
$118.60$4.21B17.813.82%35.34%24.02%—
TW logoTWTradeweb Markets Inc.
$100.26$21.37B26.5218.92%40.25%12.35%—

Compare ICE vs Peers

Intercontinental Exchange, Inc. (ICE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CME

Most directly comparable listed peer for ICE.

Scale Benchmark

vs MS

Larger-name benchmark to compare ICE against a more recognizable public peer.

Peer Set

Compare Top 5

vs CME, CBOE, NDAQ, MKTX

ICE SEC Filings & Documents

Intercontinental Exchange, Inc. (ICE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 19, 2026·SEC

Material company update

Apr 30, 2026·SEC

Material company update

Feb 5, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 5, 2026·SEC

10-Q Quarterly Reports

3
FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 31, 2025·SEC

FY 2025

May 1, 2025·SEC

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ICE Frequently Asked Questions

Intercontinental Exchange, Inc. (ICE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Intercontinental Exchange, Inc.'s revenue?

Intercontinental Exchange, Inc. (ICE) reported $13.07B in revenue for fiscal year 2025.

How fast is Intercontinental Exchange, Inc. growing?

Intercontinental Exchange, Inc. (ICE) grew revenue by 7.5% over the past year. This is steady growth.

Is ICE profitable?

Yes, Intercontinental Exchange, Inc. (ICE) is profitable, generating $3.92B in net income for fiscal year 2025 (26.1% net margin).

Dividend & Returns
Does ICE pay dividends?

Yes, Intercontinental Exchange, Inc. (ICE) pays a dividend with a yield of 1.42%. This makes it attractive for income-focused investors.

What is ICE's return on equity?

Intercontinental Exchange, Inc. (ICE) has a return on equity (ROE) of 11.7%. This is reasonable for most industries.

What is Intercontinental Exchange, Inc.'s free cash flow?

Intercontinental Exchange, Inc. (ICE) generated $4.56B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in ICE back in 2006?

Total return calculator · dividends reinvested · 20+ years of data

See returns →