Intercontinental Exchange Inc. (ICE) Stock Analysis
Financial Services · Financial Data & Stock Exchanges · NYSE
Intercontinental Exchange Inc. (ICE) posted $9.93B in revenue for fiscal 2025 (up 7.0% year over year), at a 33.4% net margin, and has compounded revenue about 3.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Intercontinental Exchange Inc.
Intercontinental Exchange Inc. has grown revenue from $5.97B to $9.93B over the last 10 fiscal years, compounding about 3.8% a year. The most recent year was up 7%, so growth is actually accelerating.
Net margin sits at 33.4%, up 3.7 points year over year. It carries about $19.64B of total debt.
At today's valuation the market is pricing in roughly 7.7% annual free-cash-flow growth — versus the 9.9% it actually delivered over the last five years, broadly in line with what it has delivered.
Synthesised from Intercontinental Exchange Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Intercontinental Exchange Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.97B | $5.84B | $6.28B | $6.55B | $8.24B | $9.17B | $7.29B | $7.99B | $9.28B | $9.93B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $1.43B | $2.53B | $1.99B | $1.93B | $2.09B | $4.06B | $1.45B | $2.37B | $2.75B | $3.31B |
| Net margin | 23.9% | 43.2% | 31.7% | 29.5% | 25.3% | 44.3% | 19.8% | 29.6% | 29.7% | 33.4% |
Source: Intercontinental Exchange Inc. SEC filings (10-K). 15 years of history available in the interactive view.
Intercontinental Exchange Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into ICE stock?
At today's market cap of $85.60B, Intercontinental Exchange Inc. is priced for free-cash-flow growth of about 7.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $4.29B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 9.9%/yr over the last five fiscal years and revenue 3.8%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 15 years of Intercontinental Exchange Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track ICE in your portfolio →
Intercontinental Exchange Inc. financial history by metric
Compare Intercontinental Exchange Inc. with peers
About Intercontinental Exchange Inc.
Intercontinental Exchange, Inc., together with its subsidiaries, provides technology and data to financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Canada, Asia Pacific, and the Middle East. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment operates regulated marketplace technology for the listing, trading, and clearing of an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange and equities, and corporate and exchange-traded funds, as well as data and connectivity services related to its exchanges and clearing houses. The Fixed Income and Data Services segment provides fixed income pricing, reference data, indices, analytics, and execution services, as well as global CDS clearing and multi-asset class data delivery technology. The Mortgage Technology segment offers a technology platform that provides customers comprehensive and digital workflow tools to address inefficiencies and mitigate risks that exist in the U.S. residential mortgage market life cycle from application through closing, servicing, and the secondary market. The company was founded in 2000 and is headquartered in Atlanta, Georgia.
Intercontinental Exchange Inc. — frequently asked questions
What is Intercontinental Exchange Inc.'s revenue?
Intercontinental Exchange Inc. (ICE) reported revenue of $9.93B for fiscal year 2025, up 7.0% from the prior year, according to its SEC filings.
Is Intercontinental Exchange Inc. profitable?
Yes. ICE earned net income of $3.31B in fiscal 2025, a net margin of 33.4%.
What is ICE's P/E ratio?
Intercontinental Exchange Inc. trades at a price-to-earnings ratio of about 21.5 based on the latest data in our nightly-refreshed cache.
How fast is Intercontinental Exchange Inc. growing?
ICE's revenue grew at roughly 3.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Intercontinental Exchange Inc. have?
As of fiscal year 2025, ICE carried roughly $19.64B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Intercontinental Exchange Inc.'s market cap?
Intercontinental Exchange Inc. (ICE) has a market capitalization of about $85.60B, based on the latest data in our nightly-refreshed cache.
When does Intercontinental Exchange Inc.'s fiscal year end?
ICE's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into ICE stock?
At today's market cap of $85.60B, Intercontinental Exchange Inc. is priced for free-cash-flow growth of about 7.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $4.29B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 9.9%/yr over the last five fiscal years and revenue 3.8%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Intercontinental Exchange Inc.'s official SEC filings (10-K and 10-Q), covering 15 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.