NYSE : ICE
Intercontinental Exchange, Inc. — Financial statements
Financials · Financial Data & Stock Exchanges · United States
Last price 163.04 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 91.53B
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Financial statements
Intercontinental Exchange, Inc. (ICE) reported revenue of 10.91B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 10.91B | 9.93B | 9.28B | 7.99B | 7.29B | 7.15B |
| Revenue | 10.91B | 9.93B | 9.28B | 7.99B | 7.29B | 7.15B |
| Gross Profit | 10.91B | 9.93B | 9.28B | 7.99B | 7.29B | 7.15B |
| Selling, General & Admin | 3.54B | 3.39B | 3.32B | 2.81B | 2.53B | 2.59B |
| Operating Expenses | 5.10B | 4.95B | 4.85B | 4.02B | 3.56B | 3.60B |
| Operating Income | 5.81B | 4.98B | 4.42B | 3.97B | 3.73B | 3.55B |
| Interest Expense | -834.00M | -803.00M | -910.00M | -808.00M | -616.00M | -423.00M |
| Interest & Investment Income | 121.00M | 119.00M | 141.00M | 319.00M | 108.00M | 1.00M |
| Earnings From Equity Investments | 63.00M | 79.00M | -120.00M | |||
| Currency Exchange Gain (Loss) | -15.00M | -18.00M | -15.00M | |||
| Other Non Operating Income (Expenses) | 4.00M | -55.00M | 59.00M | -311.00M | -1.32B | 2.67B |
| EBT Excluding Unusual Items | 5.15B | 4.31B | 3.58B | 3.17B | 1.90B | 5.80B |
| Merger & Restructuring Charges | -121.00M | -70.00M | -104.00M | -269.00M | -93.00M | -102.00M |
| Gain (Loss) on Sale of Investments | 446.00M | 91.00M | -1.00M | |||
| Gain (Loss) on Sale of Assets | 6.00M | |||||
| Asset Writedown | -3.00M | -7.00M | ||||
| Legal Settlements | 160.00M | |||||
| Other Unusual Items | 19.00M | 19.00M | -30.00M | |||
| Pretax Income | 5.49B | 4.35B | 3.63B | 2.89B | 1.81B | 5.70B |
| Income Tax Expense | 1.27B | 976.00M | 826.00M | 456.00M | 310.00M | 1.63B |
| Earnings From Continuing Operations | 4.22B | 3.37B | 2.80B | 2.44B | 1.50B | 4.07B |
| Minority Interest in Earnings | -63.00M | -55.00M | -48.00M | -70.00M | -52.00M | -11.00M |
| Net Income | 4.16B | 3.31B | 2.75B | 2.37B | 1.45B | 4.06B |
| Net Income to Common | 4.16B | 3.31B | 2.75B | 2.37B | 1.45B | 4.06B |
| Shares Outstanding (Basic) | 565.25M | 572.00M | 573.00M | 564.00M | 559.00M | 562.00M |
| Shares Outstanding (Diluted) | 567.50M | 575.00M | 576.00M | 565.00M | 561.00M | 565.00M |
| EPS (Basic) | 7.36 | 5.80 | 4.81 | 4.20 | 2.59 | 7.22 |
| EPS (Diluted) | 7.34 | 5.77 | 4.78 | 4.19 | 2.58 | 7.18 |
| Free Cash Flow | 5.28B | 4.29B | 4.20B | 3.35B | 3.33B | 2.94B |
| Free Cash Flow Per Share | 9.30 | 7.46 | 7.30 | 5.93 | 5.93 | 5.21 |
| Dividend Per Share | 2.04 | 1.92 | 1.80 | 1.68 | 1.52 | 1.32 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | 53.23% | 50.19% | 47.69% | 49.70% | 51.17% | 49.69% |
| Profit Margin | 38.14% | 33.38% | 29.68% | 29.64% | 19.83% | 56.79% |
| Free Cash Flow Margin | 48.36% | 43.19% | 45.30% | 41.96% | 45.65% | 41.20% |
| EBITDA | 7.00B | 6.18B | 5.63B | 4.89B | 4.51B | 4.35B |
| EBITDA Margin | 64.17% | 62.19% | 60.73% | 61.27% | 61.92% | 60.83% |
| D&A For EBITDA | 1.19B | 1.19B | 1.21B | 924.00M | 784.00M | 796.00M |
| EBIT | 5.81B | 4.98B | 4.42B | 3.97B | 3.73B | 3.55B |
| EBIT Margin | 53.23% | 50.19% | 47.69% | 49.70% | 51.17% | 49.69% |
| Effective Tax Rate | 23.07% | 22.46% | 22.77% | 15.76% | 17.15% | 28.59% |
| Revenue as Reported | 10.91B | 9.93B | 9.28B | 7.99B | 7.29B | 7.15B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 936.00M | 837.00M | 844.00M | 899.00M | 1.80B | 607.00M |
| Cash & Short-Term Investments | 936.00M | 837.00M | 844.00M | 899.00M | 1.80B | 607.00M |
| Receivables | 1.88B | 1.55B | 1.49B | 1.37B | 1.17B | 1.21B |
| Prepaid Expenses | 756.00M | 786.00M | 713.00M | 703.00M | 458.00M | 1.02B |
| Restricted Cash | 4.23B | 748.00M | 1.14B | 531.00M | 6.15B | 1.03B |
| Other Current Assets | 117.09B | 81.86B | 84.91B | 81.47B | 147.37B | 150.43B |
| Total Current Assets | 124.89B | 85.78B | 89.09B | 84.97B | 156.95B | 154.30B |
| Property, Plant & Equipment | 2.97B | 1.99B | 1.55B | 1.39B | 1.27B | 1.34B |
| Long-Term Investments | 2.99B | 1.61B | 451.00M | |||
| Goodwill | 30.66B | 30.65B | 30.59B | 30.55B | 21.11B | 21.12B |
| Other Intangible Assets | 14.66B | 16.05B | 16.90B | 17.85B | 13.59B | 14.10B |
| Other Long-Term Assets | 857.00M | 805.00M | 828.00M | 1.32B | 1.42B | 2.64B |
| Total Assets | 177.03B | 136.89B | 139.43B | 136.08B | 194.34B | 193.50B |
| Accounts Payable | 1.19B | 1.08B | 1.05B | 1.00B | 866.00M | 703.00M |
| Accrued Expenses | 480.00M | 467.00M | 766.00M | 551.00M | 587.00M | 423.00M |
| Short-Term Debt | 962.00M | 1.03B | 529.00M | 1.95B | 4.00M | 1.02B |
| Current Portion of Long-Term Debt | 2.00B | 2.50B | 499.00M | |||
| Current Portion of Leases | 37.00M | 37.00M | 60.00M | 65.00M | 72.00M | |
| Current Unearned Revenue | 416.00M | 204.00M | 236.00M | 200.00M | 170.00M | 194.00M |
| Other Current Liabilities | 116.26B | 81.30B | 84.44B | 80.86B | 147.48B | 150.50B |
| Total Current Liabilities | 121.30B | 84.12B | 89.55B | 84.63B | 149.17B | 153.41B |
| Long-Term Debt | 20.34B | 18.61B | 17.34B | 20.66B | 18.12B | 12.40B |
| Long-Term Leases | 685.00M | 635.00M | 335.00M | 299.00M | 254.00M | 252.00M |
| Long-Term Unearned Revenue | 81.00M | 88.00M | 97.00M | 107.00M | 84.00M | 90.00M |
| Pension & Post-Retirement Benefits | 178.00M | 174.00M | 170.00M | 193.00M | 160.00M | 200.00M |
| Long-Term Deferred Tax Liabilities | 4.13B | 4.00B | 3.90B | 4.08B | 3.49B | 4.10B |
| Other Long-Term Liabilities | 330.00M | 276.00M | 308.00M | 334.00M | 297.00M | 304.00M |
| Total Liabilities | 147.05B | 107.90B | 111.71B | 110.30B | 171.58B | 170.75B |
| Common Stock | 7.00M | 7.00M | 7.00M | 6.00M | 6.00M | 6.00M |
| Additional Paid-In Capital | 16.95B | 16.64B | 16.29B | 15.95B | 14.31B | 14.07B |
| Retained Earnings | 22.71B | 20.28B | 18.07B | 16.36B | 14.94B | 14.35B |
| Treasury Stock | -9.51B | -7.79B | -6.38B | -6.30B | -6.22B | -5.52B |
| Comprehensive Income & Other | -263.00M | -224.00M | -338.00M | -294.00M | -331.00M | -196.00M |
| Total Common Equity | 29.90B | 28.91B | 27.65B | 25.72B | 22.71B | 22.71B |
| Minority Interest | 78.00M | 76.00M | 73.00M | 69.00M | 55.00M | 39.00M |
| Shareholders' Equity | 29.98B | 28.99B | 27.72B | 25.79B | 22.76B | 22.75B |
| Total Liabilities & Equity | 177.03B | 136.89B | 139.43B | 136.08B | 194.34B | 193.50B |
| Total Debt | 23.99B | 20.32B | 20.74B | 22.97B | 18.44B | 14.24B |
| Net Cash (Debt) | -23.05B | -19.48B | -19.90B | -22.07B | -16.64B | -13.63B |
| Net Cash Per Share | -40.62 | -33.88 | -34.54 | -39.07 | -29.66 | -24.13 |
| Filing Date Shares Outstanding | 558.86M | 567.90M | 574.56M | 572.62M | 558.85M | 561.85M |
| Total Common Shares Outstanding | 558.00M | 567.00M | 574.00M | 573.00M | 559.00M | 561.00M |
| Working Capital | 3.59B | 1.66B | -458.00M | 347.00M | 7.78B | 889.00M |
| Book Value Per Share | 53.58 | 51.00 | 48.17 | 44.88 | 40.62 | 40.48 |
| Tangible Book Value | -15.42B | -17.79B | -19.85B | -22.69B | -12.00B | -12.51B |
| Tangible Book Value Per Share | -27.64 | -31.37 | -34.59 | -39.60 | -21.46 | -22.30 |
| Land | 196.00M | 180.00M | 180.00M | 155.00M | 156.00M | |
| Buildings | 519.00M | 436.00M | 389.00M | 352.00M | 342.00M | |
| Machinery | 1.38B | 1.26B | 1.19B | 1.11B | 1.13B | |
| Leasehold Improvements | 486.00M | 455.00M | 372.00M | 336.00M | 322.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.16B | 3.31B | 2.75B | 2.37B | 1.45B | 4.06B |
| Depreciation & Amortization | 1.19B | 1.19B | 1.21B | 924.00M | 784.00M | 796.00M |
| Other Amortization | 368.00M | 368.00M | 324.00M | 284.00M | 247.00M | 213.00M |
| Loss (Gain) From Sale of Assets | -1.42B | |||||
| Asset Writedown & Restructuring Costs | 3.00M | 7.00M | ||||
| Loss (Gain) From Sale of Investments | -472.00M | -55.00M | 1.00M | 4.00M | -41.00M | -1.26B |
| Loss (Gain) on Equity Investments | -63.00M | -79.00M | 62.00M | 122.00M | 1.34B | 42.00M |
| Stock-Based Compensation | 285.00M | 238.00M | 231.00M | 257.00M | 155.00M | 188.00M |
| Other Operating Activities | 250.00M | 187.00M | -39.00M | -36.00M | -500.00M | 593.00M |
| Change in Accounts Receivable | -344.00M | -62.00M | -149.00M | -71.00M | 20.00M | -5.00M |
| Change in Unearned Revenue | 50.00M | -44.00M | 27.00M | -16.00M | -27.00M | 34.00M |
| Change in Other Net Operating Assets | 332.00M | -398.00M | 185.00M | -301.00M | 130.00M | -116.00M |
| Operating Cash Flow | 5.76B | 4.66B | 4.61B | 3.54B | 3.55B | 3.12B |
| Capital Expenditures | -484.00M | -373.00M | -406.00M | -190.00M | -225.00M | -179.00M |
| Cash Acquisitions | -65.00M | -19.00M | -38.00M | -10.20B | -59.00M | -66.00M |
| Sale (Purchase) of Intangibles | -446.00M | -418.00M | -346.00M | -299.00M | -257.00M | -273.00M |
| Investment in Securities | -1.88B | -1.03B | -29.00M | 179.00M | 670.00M | 1.12B |
| Other Investing Activities | -1.40B | -2.41B | -102.00M | 1.71B | 548.00M | -1.39B |
| Investing Cash Flow | -4.28B | -4.25B | -921.00M | -8.80B | 677.00M | -786.00M |
| Short-Term Debt Issued | 506.00M | 1.95B | ||||
| Long-Term Debt Issued | 1.23B | 739.00M | 2.40B | 7.89B | ||
| Total Debt Issued | 5.45B | 1.74B | 739.00M | 4.35B | 7.89B | |
| Short-Term Debt Repaid | -1.42B | -1.01B | -1.39B | |||
| Long-Term Debt Repaid | -2.50B | -1.60B | -2.29B | -2.71B | -1.25B | |
| Total Debt Repaid | -1.21B | -2.50B | -3.02B | -2.29B | -3.72B | -2.64B |
| Net Debt Issued (Repaid) | 4.24B | -760.00M | -2.29B | 2.07B | 4.17B | -2.64B |
| Repurchase of Common Stock | -2.10B | -1.40B | -81.00M | -78.00M | -705.00M | -320.00M |
| Common Dividends Paid | -1.16B | -1.10B | -1.04B | -955.00M | -853.00M | -747.00M |
| Other Financing Activities | 30.42B | -3.07B | 3.48B | -65.38B | -4.46B | 65.73B |
| Financing Cash Flow | 31.41B | -6.33B | 79.00M | -64.34B | -1.84B | 62.03B |
| Foreign Exchange Rate Adjustments | -13.00M | 32.00M | -14.00M | 7.00M | -23.00M | -6.00M |
| Net Cash Flow | 32.88B | -5.89B | 3.75B | -69.59B | 2.37B | 64.36B |
| Free Cash Flow | 5.28B | 4.29B | 4.20B | 3.35B | 3.33B | 2.94B |
| Free Cash Flow Margin | 48.36% | 43.19% | 45.30% | 41.96% | 45.65% | 41.20% |
| Free Cash Flow Per Share | 9.30 | 7.46 | 7.30 | 5.93 | 5.93 | 5.21 |
| Levered Free Cash Flow | 299.38M | 3.49B | 2.91B | 7.54B | -1.51B | 1.95B |
| Unlevered Free Cash Flow | 820.62M | 3.99B | 3.48B | 8.04B | -1.12B | 2.22B |
| Cash Interest Paid | 776.00M | 764.00M | 870.00M | 727.00M | 550.00M | 406.00M |
| Cash Income Tax Paid | 947.00M | 1.07B | 957.00M | 909.00M | 882.00M | 1.06B |
| Change in Working Capital | 38.00M | -504.00M | 63.00M | -388.00M | 123.00M | -87.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 94.36B | 92.35B | 85.56B | 73.51B | 57.30B | 77.06B |
| Enterprise Value | 117.42B | 111.07B | 106.36B | 96.33B | 74.55B | 91.06B |
| Last Close Price | 168.85 | 160.31 | 145.84 | 124.16 | 97.67 | 128.37 |
| PE Ratio | 23.01 | 27.86 | 31.07 | 31.04 | 39.63 | 18.99 |
| Forward PE | 19.70 | 22.31 | 22.87 | 23.12 | 18.72 | 25.14 |
| PS Ratio | 8.65 | 9.30 | 9.22 | 9.20 | 7.86 | 10.78 |
| PB Ratio | 3.15 | 3.19 | 3.09 | 2.85 | 2.52 | 3.39 |
| P/FCF Ratio | 17.88 | 21.53 | 20.36 | 21.93 | 17.21 | 26.17 |
| P/OCF Ratio | 16.38 | 19.81 | 18.56 | 20.75 | 16.12 | 24.67 |
| PEG Ratio | 1.35 | 2.18 | 2.29 | 2.95 | 2.64 | 2.20 |
| EV/Sales Ratio | 10.76 | 11.18 | 11.46 | 12.06 | 10.22 | 12.74 |
| EV/EBITDA Ratio | 16.77 | 17.98 | 18.88 | 19.68 | 16.51 | 20.95 |
| EV/EBIT Ratio | 20.21 | 22.29 | 24.04 | 24.26 | 19.98 | 25.64 |
| EV/FCF Ratio | 22.25 | 25.90 | 25.31 | 28.74 | 22.39 | 30.93 |
| Debt / Equity Ratio | 0.80 | 0.70 | 0.75 | 0.89 | 0.81 | 0.63 |
| Debt / EBITDA Ratio | 3.38 | 3.24 | 3.61 | 4.61 | 4.01 | 3.21 |
| Debt / FCF Ratio | 4.55 | 4.74 | 4.93 | 6.85 | 5.54 | 4.84 |
| Net Debt / Equity Ratio | 0.77 | 0.67 | 0.72 | 0.86 | 0.73 | 0.60 |
| Net Debt / EBITDA Ratio | 3.29 | 3.15 | 3.53 | 4.51 | 3.69 | 3.14 |
| Net Debt / FCF Ratio | 4.37 | 4.54 | 4.73 | 6.58 | 5.00 | 4.63 |
| Asset Turnover | 0.07 | 0.07 | 0.07 | 0.05 | 0.04 | 0.04 |
| Quick Ratio | 0.02 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 |
| Current Ratio | 1.03 | 1.02 | 0.99 | 1.00 | 1.05 | 1.01 |
| Return on Equity (ROE) | 14.40% | 11.88% | 10.47% | 10.04% | 6.58% | 19.20% |
| Return on Assets (ROA) | 2.28% | 2.25% | 2.01% | 1.50% | 1.20% | 1.39% |
| Return on Invested Capital (ROIC) | 8.75% | 8.04% | 7.16% | 7.66% | 8.16% | 7.01% |
| Return on Capital Employed (ROCE) | 10.40% | 9.40% | 8.90% | 7.70% | 8.30% | 8.90% |
| Earnings Yield | 4.35% | 3.59% | 3.22% | 3.22% | 2.52% | 5.27% |
| FCF Yield | 5.59% | 4.64% | 4.91% | 4.56% | 5.81% | 3.82% |
| Dividend Yield | 1.23% | 1.18% | 1.21% | 1.31% | 1.48% | 0.96% |
| Payout Ratio | 28.35% | 33.33% | 37.73% | 40.33% | 58.99% | 18.41% |
| Buyback Yield / Dilution | 1.48% | 0.17% | -1.95% | -0.71% | 0.71% | -1.80% |
| Total Shareholder Return | 2.71% | 1.35% | -0.74% | 0.60% | 2.19% | -0.84% |