Intercontinental Exchange, Inc. ICE

Financials SIC 6200 - Security & Commodity Brokers, Dealers, Exchanges & Services NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Securities and Commodity Exchanges derived NYSE

Intercontinental Exchange, Inc. is a leading global provider of technology and data to a broad range of customers including financial institutions, corporations and government entities. Our products, which span major asset classes including futures, equities, fixed income and U.S. residential mortgages, provide our customers with access to mission critical tools that are designed to increase asset class transparency and workflow efficiency. Although we report our results in three reportable business segments, we operate as one business, leveraging the collective expertise, particularly in data services and technology, that exists across our platforms to inform and enhance our operations. Our segments are as follows:

Last close 162.74 2026-10-23
Market cap $91.36B 2026-06-30 share count
52-week range 121.79 - 176.05

Valuation FY2025 figures against the last close

P/S7.2x
P/E28.2x
P/FCF21.3x
EV/EBITDA21.5x
Dividend yield1.2%
Diluted EPS5.77

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Exchanges
  • Fixed Income and Data Services
  • Mortgage Technology
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Exchanges, FY2025: 8.1B (64.2%) 64% Exchanges Fixed Income and Data Services, FY2025: 2.4B (19.1%) 19% Mortgage Technology, FY2025: 2.1B (16.6%) 17% Mortgage Technology FY2024 Exchanges, FY2024: 7.4B (63.3%) 63% Fixed Income and Data Services, FY2024: 2.3B (19.5%) 20% Mortgage Technology, FY2024: 2B (17.2%) 17% FY2023 Exchanges, FY2023: 6.4B (64.2%) 64% Fixed Income and Data Services, FY2023: 2.2B (22.5%) 23% Mortgage Technology, FY2023: 1.3B (13.3%) 13%
Segment FY2025FY2024FY2023
Exchanges $8.12B $7.44B $6.36B
Fixed Income and Data Services $2.42B $2.30B $2.23B
Mortgage Technology $2.10B $2.02B $1.32B

As the company reported it, from the “Segment Reporting - Schedule of Segment Reporting Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $12.64B$11.76B$9.90B$9.64B$9.17B$8.24B$6.55B$6.28B$5.84B$5.97B
SG&A $293.0M$307.0M$266.0M$226.0M$215.0M$185.0M$161.0M$151.0M$155.0M$116.0M
Total operating expenses $5.00B$4.97B$4.29B$3.65B$3.70B$3.00B$2.53B$2.40B$2.26B$2.34B
Operating income $4.93B$4.31B$3.69B$3.64B$3.45B$3.03B$2.67B$2.58B$2.38B$2.17B
Interest expense $803.0M$910.0M$808.0M$616.0M$423.0M$357.0M$285.0M$244.0M$187.0M$178.0M
Pre-tax income $4.35B$3.63B$2.89B$1.81B$5.70B$2.77B$2.48B$2.52B$2.53B$2.04B
Income tax $976.0M$826.0M$456.0M$310.0M$1.63B$658.0M$521.0M$500.0M$28.0M$586.0M
Net income $3.31B$2.75B$2.37B$1.45B$4.06B$2.09B$1.93B$1.99B$2.53B$1.43B
EPS, basic 5.794.804.202.597.223.793.443.464.292.40
EPS, diluted 5.774.784.192.587.183.773.423.434.252.39
Shares, diluted (wtd. avg.) 575.0M576.0M565.0M561.0M565.0M555.0M565.0M579.0M594.0M599.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $837.0M$844.0M$899.0M$150.34B$147.98B$83.62B$65.09B$64.59B$1.57B$1.35B
Short-term investments ————————$16.0M$23.0M
Receivables $1.55B$1.49B$1.37B$1.17B$1.21B$1.23B$988.0M$953.0M$903.0M$777.0M
Total current assets $85.78B$89.09B$84.97B$156.95B$154.30B$87.22B$67.98B$66.69B$53.56B$57.13B
Property, plant and equipment ———————$1.24B$1.25B$1.13B
Goodwill $30.65B$30.59B$30.55B$21.11B$21.12B$21.29B$13.34B$13.09B$12.22B$312.0M
Other intangibles $15.35B$16.31B$17.32B$13.09B$13.74B$14.41B$10.26B$10.46B$10.27B$10.42B
Total assets $136.89B$139.43B$136.08B$194.34B$193.50B$126.20B$94.49B$92.79B$78.26B$82.00B
Accounts payable $1.08B$1.05B$1.00B$866.0M$703.0M$639.0M$505.0M$521.0M$462.0M$388.0M
Short-term debt $1.03B$3.03B$1.95B$4.0M$1.52B$2.41B$2.57B$951.0M$1.83B$2.49B
Total current liabilities $84.12B$89.55B$84.63B$149.17B$153.41B$88.00B$68.82B$66.11B$54.17B$58.62B
Long-term debt $18.61B$17.34B$20.66B$18.12B$12.40B$14.13B$5.25B$6.49B$4.27B$3.87B
Total liabilities $107.90B$111.71B$110.30B$171.58B$170.75B$106.57B$77.13B$75.49B$61.28B$66.21B
Retained earnings $20.28B$18.07B$16.36B$14.94B$14.35B$11.04B$9.63B$8.32B$6.86B$4.79B
Total equity $28.91B$27.65B$25.79B$22.76B$22.75B$19.53B$17.29B$17.23B$16.98B$15.78B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $4.66B$4.61B$3.54B$3.55B$3.12B$2.88B$2.66B$2.53B$2.08B$2.15B
Depreciation and amortisation $198.0M$201.0M$182.0M$174.0M$174.0M$173.0M$145.0M$133.0M$122.0M$142.0M
Stock-based compensation $238.0M$231.0M$257.0M$155.0M$188.0M$139.0M$139.0M$130.0M$135.0M$124.0M
Capital expenditure $373.0M$406.0M$190.0M$225.0M$179.0M$207.0M$153.0M$134.0M$220.0M$250.0M
Investing cash flow -$4.25B-$921.0M-$8.80B$677.0M-$786.0M-$10.36B-$1.74B-$1.75B$92.0M-$860.0M
Financing cash flow -$6.33B$79.0M-$64.34B-$1.84B$62.03B$26.00B-$424.0M-$463.0M-$1.97B-$1.46B
Dividends paid $1.10B$1.04B$955.0M$853.0M$747.0M$669.0M$621.0M$555.0M$476.0M$409.0M
Buybacks $1.29B$0$0$632.0M$250.0M$1.25B$1.46B$1.20B$949.0M$50.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001571949-26-000004.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 6B Net income, FY2016: 1.4B Revenue, FY2017: 5.8B Net income, FY2017: 2.5B Revenue, FY2018: 6.3B Net income, FY2018: 2B Revenue, FY2019: 6.5B Net income, FY2019: 1.9B Revenue, FY2020: 8.2B Net income, FY2020: 2.1B Revenue, FY2021: 9.2B Net income, FY2021: 4.1B Revenue, FY2022: 9.6B Net income, FY2022: 1.4B Revenue, FY2023: 9.9B Net income, FY2023: 2.4B Revenue, FY2024: 11.8B Net income, FY2024: 2.8B Revenue, FY2025: 12.6B Net income, FY2025: 3.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.97B $5.84B $6.28B $6.55B $8.24B $9.17B $9.64B $9.90B $11.76B $12.64B
Gross profit — — — — — — — — — —
Net income $1.43B $2.53B $1.99B $1.93B $2.09B $4.06B $1.45B $2.37B $2.75B $3.31B

Recent filings and events

  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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