(ICE) Intercontinental Exchange - Overview

Sector: Financial Services | Industry: Financial Data & Stock Exchanges | Exchange: NYSE (USA) | Market Cap: 87.151m USD | Total Return: -12.9% in 12m

Derivatives Exchanges, Market Data, Mortgage Software, Clearing Services
Total Rating 44
Safety 48
Buy Signal -1.00
Financial Data & Stock Exchanges
Industry Rotation: +1.6
Market Cap: 87.2B
Avg Turnover: 462M
Risk 3d forecast
Volatility20.6%
VaR 5th Pctl3.56%
VaR vs Median5.10%
Reward TTM
Sharpe Ratio-0.74
Rel. Str. IBD22
Rel. Str. Peer Group50
Character TTM
Beta0.250
Beta Downside0.321
Hurst Exponent0.503
Drawdowns 3y
Max DD22.53%
CAGR/Max DD0.62
CAGR/Mean DD2.51
EPS (Earnings per Share) EPS (Earnings per Share) of ICE over the last years for every Quarter: "2021-03": 1.34, "2021-06": 1.16, "2021-09": 1.3, "2021-12": 1.34, "2022-03": 1.43, "2022-06": 1.32, "2022-09": 1.31, "2022-12": 1.25, "2023-03": 1.41, "2023-06": 1.43, "2023-09": 1.46, "2023-12": 1.33, "2024-03": 1.48, "2024-06": 1.52, "2024-09": 1.55, "2024-12": 1.52, "2025-03": 1.72, "2025-06": 1.81, "2025-09": 1.71, "2025-12": 1.71, "2026-03": 2.35,
EPS CAGR: 11.93%
EPS Trend: 97.2%
Last SUE: 4.00
Qual. Beats: 2
Revenue Revenue of ICE over the last years for every Quarter: 2021-03: 2429, 2021-06: 2134, 2021-09: 2277, 2021-12: 2328, 2022-03: 2459, 2022-06: 2413, 2022-09: 2387, 2022-12: 2377, 2023-03: 2472, 2023-06: 2336, 2023-09: 2429, 2023-12: 2666, 2024-03: 2801, 2024-06: 2897, 2024-09: 3033, 2024-12: 3030, 2025-03: 3229, 2025-06: 3262, 2025-09: 3007, 2025-12: 3140, 2026-03: 3666,
Rev. CAGR: 13.35%
Rev. Trend: 98.0%
Last SUE: 0.78
Qual. Beats: 0

Warnings

Choppy Below Avwap Earnings

Tailwinds

Confidence

Description: ICE Intercontinental Exchange

Intercontinental Exchange (ICE) is a global provider of marketplace infrastructure, data services, and technology solutions for financial and commodity markets. The company operates through three primary segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. Its core business facilitates the listing, trading, and clearing of diverse asset classes including energy derivatives, equities, and interest rate products.

The company utilizes a high-margin, transaction-based business model supplemented by recurring data subscription revenue. Within the Financial Exchanges & Data sub-industry, competitive advantages are often driven by network effects, where increased liquidity on a platform attracts more participants, creating high barriers to entry for new competitors. ICE has expanded its total addressable market by digitizing the U.S. residential mortgage workflow, transitioning traditional paper-based processes into integrated software solutions.

For more detailed metrics on this companys performance, consider reviewing the latest data on ValueRay. Founded in 2000 and headquartered in Atlanta, Georgia, the firm maintains a significant presence across major global financial hubs, supporting both regulatory compliance and market transparency for institutional and government clients.

Headlines to Watch Out For
  • High interest rate volatility drives trading volumes in financial and energy derivatives
  • Mortgage technology revenue depends on US residential loan origination and refinancing volumes
  • Expansion of recurring data services revenue stabilizes margins during low volatility periods
  • Regulatory scrutiny of exchange pricing models impacts clearing and execution fee structures
  • Energy market transition increases demand for environmental and carbon credit trading products
Piotroski VR‑10 (Strict) 4.5
Net Income: 3.92b TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.23 > 1.0
NWC/Revenue: 10.52% < 20% (prev -0.62%; Δ 11.15% < -1%)
CFO/TA 0.03 > 3% & CFO 5.02b > Net Income 3.92b
Net Debt (19.49b) to EBITDA (6.63b): 2.94 < 3
Current Ratio: 1.01 > 1.5 & < 3
Outstanding Shares: last quarter (570.0m) vs 12m ago -1.21% < -2%
Gross Margin: 68.98% > 18% (prev 0.55%; Δ 6.84k% > 0.5%)
Asset Turnover: 8.12% > 50% (prev 8.53%; Δ -0.41% > 0%)
Interest Coverage Ratio: 6.53 > 6 (EBITDA TTM 6.63b / Interest Expense TTM 778.0m)
Altman Z'' 0.80
A: 0.01 (Total Current Assets 127.06b - Total Current Liabilities 125.69b) / Total Assets 179.18b
B: 0.12 (Retained Earnings 21.40b / Total Assets 179.18b)
C: 0.03 (EBIT TTM 5.08b / Avg Total Assets 161.02b)
D: 0.14 (Book Value of Equity 21.15b / Total Liabilities 149.62b)
Altman-Z'' Score: 0.80 = B
Beneish M -3.59
DSRI: 0.62 (Receivables 2.38b/3.60b, Revenue 13.07b/12.19b)
GMI: 0.79 (GM 68.98% / 54.79%)
AQI: 0.82 (AQ_t 0.28 / AQ_t-1 0.34)
SGI: 1.07 (Revenue 13.07b / 12.19b)
TATA: -0.01 (NI 3.92b - CFO 5.02b) / TA 179.18b)
Beneish M-Score: -3.59 (Cap -4..+1) = AAA
What is the price of ICE shares? As of May 21, 2026, the stock is trading at USD 151.69 with a total of 2,751,459 shares traded.
Over the past week, the price has changed by -2.01%, over one month by -5.55%, over three months by -1.19% and over the past year by -12.94%.
Is ICE a buy, sell or hold? Intercontinental Exchange has received a consensus analysts rating of 4.11. Therefore, it is recommended to buy ICE.
  • StrongBuy: 7
  • Buy: 7
  • Hold: 3
  • Sell: 1
  • StrongSell: 0
What are the forecasts/targets for the ICE price?
Analysts Target Price 200.7 32.3%
Intercontinental Exchange (ICE) - Fundamental Data Overview as of 21 May 2026
P/E Trailing = 22.4323
P/E Forward = 20.8768
P/S = 8.3518
P/B = 2.9893
P/EG = 2.1589
Revenue TTM = 13.07b USD
EBIT TTM = 5.08b USD
EBITDA TTM = 6.63b USD
Long Term Debt = 18.62b USD (from longTermDebt, last quarter)
Short Term Debt = 1.75b USD (from shortTermDebt, last quarter)
Debt = 20.98b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 19.49b USD (from netDebt column, last quarter)
Enterprise Value = 105.76b USD (87.15b + Debt 20.98b - CCE 2.38b)
Interest Coverage Ratio = 6.53 (Ebit TTM 5.08b / Interest Expense TTM 778.0m)
EV/FCF = 23.20x (Enterprise Value 105.76b / FCF TTM 4.56b)
FCF Yield = 4.31% (FCF TTM 4.56b / Enterprise Value 105.76b)
FCF Margin = 34.86% (FCF TTM 4.56b / Revenue TTM 13.07b)
Net Margin = 29.98% (Net Income TTM 3.92b / Revenue TTM 13.07b)
Gross Margin = 68.98% ((Revenue TTM 13.07b - Cost of Revenue TTM 4.06b) / Revenue TTM)
Gross Margin QoQ = 81.21% (prev 79.75%)
Tobins Q-Ratio = 0.59 (Enterprise Value 105.76b / Total Assets 179.18b)
Interest Expense / Debt = 0.97% (Interest Expense 203.0m / Debt 20.98b)
Taxrate = 24.51% (465.0m / 1.90b)
NOPAT = 3.83b (EBIT 5.08b * (1 - 24.51%))
Current Ratio = 1.01 (Total Current Assets 127.06b / Total Current Liabilities 125.69b)
Debt / Equity = 0.71 (Debt 20.98b / totalStockholderEquity, last quarter 29.56b)
Debt / EBITDA = 2.94 (Net Debt 19.49b / EBITDA 6.63b)
Debt / FCF = 4.28 (Net Debt 19.49b / FCF TTM 4.56b)
Total Stockholder Equity = 28.89b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.43% (Net Income 3.92b / Total Assets 179.18b)
RoE = 13.57% (Net Income TTM 3.92b / Total Stockholder Equity 28.89b)
RoCE = 10.69% (EBIT 5.08b / Capital Employed (Equity 28.89b + L.T.Debt 18.62b))
RoIC = 7.91% (NOPAT 3.83b / Invested Capital 48.43b)
WACC = 5.67% (E(87.15b)/V(108.14b) * Re(6.86%) + D(20.98b)/V(108.14b) * Rd(0.97%) * (1-Tc(0.25)))
Discount Rate = 6.86% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: -21.48 | Cagr: 0.39%
[DCF] Terminal Value 87.26% ; FCFF base≈4.32b ; Y1≈4.77b ; Y5≈6.16b
[DCF] Fair Price = 285.5 (EV 180.97b - Net Debt 19.49b = Equity 161.48b / Shares 565.5m; r=6.0% [WACC]; 5y FCF grow 11.86% → 3.0% )
EPS Correlation: 97.22 | EPS CAGR: 11.93% | SUE: 4.0 | # QB: 2
Revenue Correlation: 98.03 | Revenue CAGR: 13.35% | SUE: 0.78 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.92 | Chg30d=+1.41% | Revisions=+47% | Analysts=12
EPS next Quarter (2026-09-30): EPS=1.91 | Chg30d=+1.07% | Revisions=+33% | Analysts=12
EPS current Year (2026-12-31): EPS=8.14 | Chg30d=+2.44% | Revisions=+62% | GrowthEPS=+17.1% | GrowthRev=+10.5%
EPS next Year (2027-12-31): EPS=8.79 | Chg30d=+1.23% | Revisions=+53% | GrowthEPS=+8.0% | GrowthRev=+5.1%
[Analyst] Revisions Ratio: +62%