(ICE) Intercontinental Exchange - Overview
Stock: Exchanges, Clearing, Data, Analytics, Mortgage
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.13% |
| Yield on Cost 5y | 1.80% |
| Yield CAGR 5y | 9.82% |
| Payout Consistency | 100.0% |
| Payout Ratio | 27.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 27.1% |
| Relative Tail Risk | -4.49% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.01 |
| Alpha | -2.76 |
| Character TTM | |
|---|---|
| Beta | 0.434 |
| Beta Downside | 0.561 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.53% |
| CAGR/Max DD | 0.78 |
Description: ICE Intercontinental Exchange January 27, 2026
Intercontinental Exchange, Inc. (NYSE: ICE) operates a diversified financial-technology platform across three core segments-Exchanges, Fixed Income & Data Services, and Mortgage Technology-serving banks, corporates, and governments in North America, Europe, Asia and the Middle East. Founded in 2000 and headquartered in Atlanta, the firm provides regulated marketplaces for derivatives and securities, pricing and analytics for fixed-income instruments, and end-to-end digital workflows for U.S. residential mortgages.
In FY 2023 ICE generated $9.2 billion in revenue, with the Exchanges segment contributing roughly 55 % ($5.1 bn), Fixed Income & Data Services 30 % ($2.8 bn) and Mortgage Technology 15 % ($1.3 bn). Trading volume on ICE Futures US rose 8 % YoY, reflecting heightened commodity volatility, while the Mortgage Tech platform processed a 12 % increase in loan-origination volume as low mortgage rates spurred housing demand. The firm’s cash flow remains robust, delivering $2.5 bn of operating cash in the most recent year.
Key macro drivers include the Federal Reserve’s interest-rate policy, which directly affects fixed-income pricing and CDS clearing activity, and the health of the U.S. housing market, which underpins growth in the Mortgage Technology segment. As market conditions evolve, tracking ICE’s segment revenue mix and volume trends can help gauge its exposure to these drivers.
For a deeper quantitative assessment, you might explore ICE’s valuation metrics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 3.30b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.30 > 1.0 |
| NWC/Revenue: 13.15% < 20% (prev -3.89%; Δ 17.05% < -1%) |
| CFO/TA 0.03 > 3% & CFO 4.66b > Net Income 3.30b |
| Net Debt (19.37b) to EBITDA (6.66b): 2.91 < 3 |
| Current Ratio: 1.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (571.1m) vs 12m ago -1.02% < -2% |
| Gross Margin: 61.88% > 18% (prev 0.55%; Δ 6133 % > 0.5%) |
| Asset Turnover: 9.15% > 50% (prev 8.44%; Δ 0.71% > 0%) |
| Interest Coverage Ratio: 6.53 > 6 (EBITDA TTM 6.66b / Interest Expense TTM 781.0m) |
Altman Z'' 1.01
| A: 0.01 (Total Current Assets 85.78b - Total Current Liabilities 84.12b) / Total Assets 136.89b |
| B: 0.15 (Retained Earnings 20.28b / Total Assets 136.89b) |
| C: 0.04 (EBIT TTM 5.10b / Avg Total Assets 138.16b) |
| D: 0.19 (Book Value of Equity 20.06b / Total Liabilities 107.90b) |
| Altman-Z'' Score: 1.01 = BB |
Beneish M -3.51
| DSRI: 0.46 (Receivables 1.55b/3.13b, Revenue 12.64b/11.76b) |
| GMI: 0.90 (GM 61.88% / 55.45%) |
| AQI: 1.02 (AQ_t 0.35 / AQ_t-1 0.35) |
| SGI: 1.07 (Revenue 12.64b / 11.76b) |
| TATA: -0.01 (NI 3.30b - CFO 4.66b) / TA 136.89b) |
| Beneish M-Score: -3.51 (Cap -4..+1) = AAA |
What is the price of ICE shares?
Over the past week, the price has changed by -2.41%, over one month by +4.33%, over three months by +13.38% and over the past year by +2.27%.
Is ICE a buy, sell or hold?
- StrongBuy: 7
- Buy: 7
- Hold: 3
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the ICE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 194.1 | 14.8% |
| Analysts Target Price | 194.1 | 14.8% |
| ValueRay Target Price | 188.1 | 11.3% |
ICE Fundamental Data Overview February 08, 2026
P/E Forward = 22.6244
P/S = 9.703
P/B = 3.3185
P/EG = 2.264
Revenue TTM = 12.64b USD
EBIT TTM = 5.10b USD
EBITDA TTM = 6.66b USD
Long Term Debt = 17.37b USD (from longTermDebt, two quarters ago)
Short Term Debt = 1.07b USD (from shortTermDebt, last quarter)
Debt = 20.95b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 19.37b USD (from netDebt column, last quarter)
Enterprise Value = 115.10b USD (96.36b + Debt 20.95b - CCE 2.21b)
Interest Coverage Ratio = 6.53 (Ebit TTM 5.10b / Interest Expense TTM 781.0m)
EV/FCF = 26.84x (Enterprise Value 115.10b / FCF TTM 4.29b)
FCF Yield = 3.73% (FCF TTM 4.29b / Enterprise Value 115.10b)
FCF Margin = 33.94% (FCF TTM 4.29b / Revenue TTM 12.64b)
Net Margin = 26.14% (Net Income TTM 3.30b / Revenue TTM 12.64b)
Gross Margin = 61.88% ((Revenue TTM 12.64b - Cost of Revenue TTM 4.82b) / Revenue TTM)
Gross Margin QoQ = 79.75% (prev 56.83%)
Tobins Q-Ratio = 0.84 (Enterprise Value 115.10b / Total Assets 136.89b)
Interest Expense / Debt = 0.87% (Interest Expense 182.0m / Debt 20.95b)
Taxrate = 20.47% (219.0m / 1.07b)
NOPAT = 4.05b (EBIT 5.10b * (1 - 20.47%))
Current Ratio = 1.02 (Total Current Assets 85.78b / Total Current Liabilities 84.12b)
Debt / Equity = 0.72 (Debt 20.95b / totalStockholderEquity, last quarter 28.91b)
Debt / EBITDA = 2.91 (Net Debt 19.37b / EBITDA 6.66b)
Debt / FCF = 4.52 (Net Debt 19.37b / FCF TTM 4.29b)
Total Stockholder Equity = 28.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.39% (Net Income 3.30b / Total Assets 136.89b)
RoE = 11.60% (Net Income TTM 3.30b / Total Stockholder Equity 28.49b)
RoCE = 11.11% (EBIT 5.10b / Capital Employed (Equity 28.49b + L.T.Debt 17.37b))
RoIC = 8.47% (NOPAT 4.05b / Invested Capital 47.86b)
WACC = 6.30% (E(96.36b)/V(117.31b) * Re(7.52%) + D(20.95b)/V(117.31b) * Rd(0.87%) * (1-Tc(0.20)))
Discount Rate = 7.52% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.88%
[DCF Debug] Terminal Value 85.65% ; FCFF base≈4.15b ; Y1≈4.55b ; Y5≈5.80b
Fair Price DCF = 231.9 (EV 151.05b - Net Debt 19.37b = Equity 131.68b / Shares 567.9m; r=6.30% [WACC]; 5y FCF grow 11.12% → 2.90% )
EPS Correlation: 84.95 | EPS CAGR: 4.88% | SUE: 1.90 | # QB: 3
Revenue Correlation: 91.29 | Revenue CAGR: 6.74% | SUE: 3.66 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.90 | Chg30d=+0.055 | Revisions Net=+1 | Analysts=9
EPS current Year (2026-12-31): EPS=7.61 | Chg30d=+0.095 | Revisions Net=+0 | Growth EPS=+9.4% | Growth Revenue=+5.5%
EPS next Year (2027-12-31): EPS=8.41 | Chg30d=+0.046 | Revisions Net=+1 | Growth EPS=+10.5% | Growth Revenue=+6.5%