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Earnings transcript
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ICE
Intercontinental Exchange, Inc.
$157.69
-0.88
(-0.55%)
| Exchange: | NYSE |
| Market Cap: | 88.526B |
| Shares Outstanding: | 148.893M |
Delayed data
About The Company
| Sector: | Financial ServicesView sector performance | |||||
| Industry: | Financial – Data & Stock ExchangesView industry performance | |||||
| CEO: | Jeffrey C. Sprecher | |||||
| Full Time Employees: | 12725 | |||||
| Address: |
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| Website: | https://www.ice.com |
Intercontinental Exchange, Inc. (ICE) manages a global network of regulated financial venues, encompassing exchanges, clearing houses, and listing platforms. These operations serve diverse markets, including commodities, financial instruments, fixed income products, and equities, with a geographical footprint spanning key financial centers such as the United States, United Kingdom, European Union, Singapore, Israel, and Canada. The company’s business is segmented into three core areas: Exchanges, Fixed Income and Data Services, and Mortgage Technology. Within its Exchanges segment, ICE oversees a robust network comprising 13 regulated exchanges and 6 clearing houses. These extensive marketplaces enable the listing, trading, and clearing of a wide spectrum of derivatives contracts and financial securities. This includes futures and options across diverse sectors such as energy, agriculture, metals, financials, and equities, in addition to providing critical listing, market data, and connectivity solutions. The Fixed Income and Data Services division provides comprehensive analytics and execution services for fixed income products, manages Credit Default Swap (CDS) clearing, and offers multi-asset class data and network solutions. Furthermore, its Mortgage Technology segment delivers an advanced, proprietary platform designed for residential mortgage origination. This division also provides closing solutions that streamline connections across the mortgage supply chain and facilitate secure information exchange, alongside data analytics and “Data as a Service” offerings for lenders to access vital origination insights. Intercontinental Exchange, Inc. was established in 2000 and maintains its headquarters in Atlanta, Georgia.
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Revenue Segmentation
ICE full analysis
Welcome to MARKETSNAP’s SWOT analysis for Intercontinental Exchange, or ICE as it’s known on the ticker. If you’re a long-term investor looking to dig into a powerhouse in the financial markets, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for Intercontinental Exchange, a company that’s no stranger to most of you. It’s a global leader in market infrastructure, data services, and technology solutions. So, let’s skip the basics and dive straight into what’s…
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 9,903,000 | 11,761,000 | 12,638,000 |
| Gross Profit | 5,659,000 | 6,522,000 | 7,821,000 |
| EBITDA | 4,917,000 | 6,075,000 | 6,643,000 |
| Operating Income | 3,694,000 | 4,309,000 | 4,896,000 |
| Net Income | 2,368,000 | 2,754,000 | 3,304,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 136,084,000 | 139,428,000 | 136,887,000 |
| Total Liabilities | 110,298,000 | 111,708,000 | 107,896,000 |
| Total Stockholders Equity | 25,717,000 | 27,647,000 | 28,991,000 |
| Total Debt | 22,912,000 | 20,703,000 | 20,279,000 |
| Cash and Cash Equivalents | 899,000 | 844,000 | 1,585,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,542,000 | 4,609,000 | 4,662,000 |
| Capital Expenditure | -489,000 | -406,000 | -373,000 |
| Free Cash Flow | 3,053,000 | 4,203,000 | 4,289,000 |
| Net Income | 2,438,000 | 2,802,000 | 3,315,000 |
| Net Change in Cash | -69,593,000 | 3,753,000 | -5,889,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 13,992,082.290 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 14,522,735.868 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 14,272,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 10,084,745.490 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 10,543,799.344 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 10,326,893.244 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 7,124,206.487 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 7,477,571.387 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 7,310,604.044 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 916,697.609 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 951,463.618 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 935,036.544 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 12.800 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 13.090 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 12.470 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 4 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: ICE reported record financial results in Q2 2025, as highlighted in the earnings call transcript, with strong revenue and net income growth. Key metrics such as roeTTM and netProfitMarginTTM indicate efficient capital utilization and profitability compared to industry benchmarks.
- Diversified Business Segments: The earnings call emphasized ICE's strategic positioning across multiple segments, supported by revenue product and geo segment data showing balanced contributions from various categories and regions, reducing dependency on any single market.
- Technological Leadership: The company is leveraging technology and data to enhance offerings, as noted in the Q2 2025 earnings call summary, positioning ICE as a market leader in innovation within the financial services sector.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates ICE intrinsic value between $209.32 – $225.90 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about ICE valuation
Is Intercontinental Exchange, Inc. (ICE) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Intercontinental Exchange, Inc. (ICE) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is ICE a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ICE trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is ICE’s P/E ratio?
You can see ICE’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for ICE?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is ICE a good long-term investment?
Whether ICE fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
ICE
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Daily snapshot
-0.55
Trading Metrics:
| Open: | 158.2 | Previous Close: | 158.57 | |
| Day Low: | 156.83 | Day High: | 159.41 | |
| Year Low: | 121.79 | Year High: | 176.05 | |
| Price Avg 50: | 156.59 | Price Avg 200: | 154.68 | |
| Volume: | 2.768M | Average Volume: | 3.749M |
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