Intercontinental Exchange (ICE) stock
Financials · Financial Exchanges & Data
Intercontinental Exchange (ICE) is a Financial Exchanges & Data company in the Financials sector, headquartered in Atlanta, Georgia. As of October 23, 2026, ICE closed at $162.74, a market capitalization of $91.36 billion, the 133rd largest company in the S&P 500. Over the last twelve months it generated $10.56 billion in revenue (+5% year over year) and $4.64 billion in free cash flow. The stock trades at 23.0x trailing earnings and 18.3x forward earnings.
- 1-year total return: +4.7% (dividends reinvested)
- 5-year return: +5.7% a year
- 52-week range: $121.79 – $176.05
- Gross margin 100.0%, operating margin 52.6%
- Dividend yield: 1.28%, 11 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 23rd largest of 76 Financials stocks in the S&P 500
ICE price chart
1Y price change: +3.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ICE | +4.1% | +1.5% | +4.7% | +16.2% | +5.7% | +13.3% | +16.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2005.
ICE key statistics
- Market cap
- $91.4B
- #133 in S&P 500
- P/E (TTM)
- 23.0x
- Forward P/E
- 18.3x
- EPS (TTM)
- $7.09
- Revenue (TTM)
- $10.6B
- +5%
- Free cash flow
- $4.6B
- Gross margin
- 100.0%
- Operating margin
- 52.6%
- Return on equity
- 14.1%
- Dividend yield
- 1.28%
- 52-week range
- $121.79 – $176.05
- Beta
- 0.94
- Price / sales
- 8.7x
- EV / EBITDA
- 16.5x
- Debt / equity
- 0.69x
- Employees
- 12,725
ICE report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth4.8%D
- Gross margin100.0%A
- Operating margin52.6%A
- FCF margin44.0%A
- Return on equity14.1%C
- Net debt / EBITDA2.9xD
- Forward P/E18.3xB
- PEG ratio2.1xD
- Shareholder yield2.7%C
- Share count change / yr0.7%D
Intercontinental Exchange financials
Revenue went from $6.0B in fiscal 2016 to $12.6B in fiscal 2025, growing 8.7% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.0B | $5.8B | $6.3B | $6.5B | $8.2B | $9.2B | $9.6B | $9.9B | $11.8B | $12.6B |
| Operating income | $2.2B | $2.4B | $2.6B | $2.7B | $3.0B | $3.4B | $3.6B | $3.7B | $4.3B | $4.9B |
| Net income | $1.4B | $2.5B | $2.0B | $1.9B | $2.1B | $4.1B | $1.4B | $2.4B | $2.8B | $3.3B |
| EPS (diluted) | $2.39 | $4.25 | $3.43 | $3.42 | $3.77 | $7.18 | $2.58 | $4.19 | $4.78 | $5.77 |
| Free cash flow | $1.9B | $1.9B | $2.4B | $2.5B | $2.7B | $2.9B | $3.3B | $3.4B | $4.2B | $4.3B |
| Buybacks | $50.0M | $949.0M | $1.2B | $1.5B | $1.2B | $250.0M | $632.0M | $0 | $0 | $1.3B |
| Dividends paid | $409.0M | $476.0M | $555.0M | $621.0M | $669.0M | $747.0M | $853.0M | $955.0M | $1.0B | $1.1B |
| Diluted shares | 599.0M | 594.0M | 579.0M | 565.0M | 555.0M | 565.0M | 561.0M | 565.0M | 576.0M | 575.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ICE?
A reverse DCF asks what growth the current price requires. With an enterprise value of $110.8B and $4.6B of trailing free cash flow, Intercontinental Exchange needs to grow free cash flow about 15.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 9.9% a year over the last five years.
P/E ratio history
Current 28.2x vs. median 27.6x (10th–90th percentile 17.7x–43.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ICE dividend
- Dividend yield
- 1.28%
- Annual dividend
- $2.08
- Years of increases
- 11
- 5-yr dividend growth
- 9.9%
- per year
- Payout ratio
- 28%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ICE analyst price targets
15 analysts' average 12-month target is $187.53 (+15% vs. $162.74). Targets range from $160.00 to $243.00. 81% rate it a buy.
ICE earnings
Next report: October 29, 2026. Intercontinental Exchange has beaten EPS estimates 7 quarters in a row. Last quarter's revenue was $3.6B (+11% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $1.84 | $1.90 | +3.4% |
| Apr 30, 2026 | $2.26 | $2.35 | +3.9% |
| Feb 5, 2026 | $1.67 | $1.71 | +2.2% |
| Oct 30, 2025 | $1.61 | $1.71 | +6.4% |
| Jul 31, 2025 | $1.77 | $1.81 | +2.3% |
| May 1, 2025 | $1.70 | $1.72 | +1.0% |
| Feb 6, 2025 | $1.49 | $1.52 | +2.0% |
| Oct 31, 2024 | $1.55 | $1.55 | -0.1% |
Stocks like ICE
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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ICE news
- Is Intercontinental Exchange (ICE) Priced Right for Its Returns? · Oct 23, 2026
- Intercontinental Exchange (ICE): A High-Quality Compounder with Multiple Growth Drivers · Oct 22, 2026
- IntercontinentalExchange (ICE) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
- ICE Extends ICE Risk Model 2 to Interest Rate Markets · Oct 22, 2026
- ICE (ICE): Can Mortgage Software Earn Adequate Returns Without a Refinancing Boom? · Oct 21, 2026
ICE stock FAQ
What is ICE's market cap?
Intercontinental Exchange's market capitalization is $91.36 billion as of October 23, 2026, ranking 133rd in the S&P 500.
What is ICE's P/E ratio?
ICE trades at a trailing price-to-earnings ratio of 23.0x and a forward P/E of 18.3x. Its median P/E over the period we track is 27.6x.
Does ICE pay a dividend?
Yes. Intercontinental Exchange pays $2.08 per share a year, a 1.28% yield. It has raised its dividend 11 years in a row. Dividends grew 9.9% a year over the last five years.
How much has ICE stock returned?
Including reinvested dividends, ICE returned +4.7% over one year, +5.7% a year over five years, +13.3% a year over ten years through October 23, 2026.
Is ICE stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Intercontinental Exchange must grow free cash flow about 15% a year for the next decade. Its free cash flow grew 10% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the ICE price target?
15 analysts cover ICE with an average 12-month price target of $187.53, +15% from the current price. 81% of them rate it a buy.
When does ICE report earnings?
Intercontinental Exchange is expected to report earnings on October 29, 2026. It has beaten EPS estimates 7 quarters in a row.
How many employees does Intercontinental Exchange have?
Intercontinental Exchange has about 12,725 full-time employees, or $829,705 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology