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Intercontinental Exchange, Inc. ICE

NYSE · stock · Security & Commodity Brokers, Dealers, Exchanges & Services · website · IPO 2005-11-16 · LEI

Intercontinental Exchange, Inc. statistics & valuation

Market cap$70.0B
P / E21.1×
P / S5.5×
P / B2.4×
P / FCF16.3×
Dividend yield1.58%
Net margin26.2%
Return on equity11.4%
FCF margin33.9%
Net debt$17.8B
Net debt / EBITDA2.7×
Enterprise value USD$87.8B
EV / EBITDA13.5×
Earnings yield EBIT/EV5.6%
Return on capital9.3%
Graham number -46.6%$80.87

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($80.87); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
23.90% 43.20% 31.70% 29.50% 25.30% 44.30% 15.00% 23.90% 23.40% 26.20% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
36.40% 40.70% 41.20% 40.80% 36.80% 37.60% 37.80% 37.30% 36.60% 39.00% 2016201720182019202020212022202320242025
Return on equity (%)
9.10% 14.90% 11.50% 11.20% 10.70% 17.80% 6.40% 9.20% 9.90% 11.40% 2016201720182019202020212022202320242025
Shares outstanding
599.0M 594.0M 579.0M 565.0M 561.0M 565.0M 561.0M 573.0M 576.0M 575.0M 2016201720182019202020212022202320242025
Net debt ($)
$2.52B $5.57B $6.72B $6.98B $15.95B $13.31B $16.32B $19.76B $16.50B $17.77B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.70% 3.20% 2.10% 2.00% 1.70% 2.10% 0.70% 1.70% 2.00% 2.40% 2016201720182019202020212022202320242025
Free cash flow margin (%)
31.80% 31.90% 38.20% 38.30% 32.40% 32.10% 34.50% 33.80% 35.70% 33.90% 2016201720182019202020212022202320242025
Debt / equity (×)
0.25× 0.36× 0.43× 0.45× 0.85× 0.61× 0.80× 0.80× 0.63× 0.64× 2016201720182019202020212022202320242025
EPS ($)
$2.39 $4.25 $3.43 $3.42 $3.77 $7.18 $2.58 $4.19 $4.78 $5.77 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Intercontinental Exchange, Inc. trades at about 26.2× earnings — below its 10-year norm (10-year range 17.4×–41.7×, median 29.3×).

17.4× 41.7×

Shaded band = 10-year range (17.4×–41.7×); dot = today's 26.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin39.0%36.6%37.3%37.8%37.6%36.8%40.8%41.2%40.7%36.4%
Net margin26.2%23.4%23.9%15.0%44.3%25.3%29.5%31.7%43.2%23.9%
FCF margin33.9%35.7%33.8%34.5%32.1%32.4%38.3%38.2%31.9%31.8%
Return on assets2.4%2.0%1.7%0.7%2.1%1.7%2.0%2.1%3.2%1.7%
Return on equity11.4%9.9%9.2%6.4%17.8%10.7%11.2%11.5%14.9%9.1%
Debt / equity0.64×0.63×0.80×0.80×0.61×0.85×0.45×0.43×0.36×0.25×
Current ratio1.020.991.001.051.010.990.991.010.990.97

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.