(ICE) Intercontinental Exchange - Overview
Stock: Exchanges, Clearing, Data, Analytics, Mortgage
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.13% |
| Yield on Cost 5y | 1.81% |
| Yield CAGR 5y | 9.82% |
| Payout Consistency | 100.0% |
| Payout Ratio | 28.4% |
| Risk 5d forecast | |
|---|---|
| Volatility | 17.3% |
| Relative Tail Risk | -4.37% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.50 |
| Alpha | 2.15 |
| Character TTM | |
|---|---|
| Beta | 0.434 |
| Beta Downside | 0.568 |
| Drawdowns 3y | |
|---|---|
| Max DD | 22.53% |
| CAGR/Max DD | 0.85 |
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) 6.0
| Net Income: 3.16b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.53 > 1.0 |
| NWC/Revenue: 8.51% < 20% (prev 1.17%; Δ 7.34% < -1%) |
| CFO/TA 0.03 > 3% & CFO 4.89b > Net Income 3.16b |
| Net Debt (18.66b) to EBITDA (6.56b): 2.85 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (574.0m) vs 12m ago -0.52% < -2% |
| Gross Margin: 55.36% > 18% (prev 0.56%; Δ 5480 % > 0.5%) |
| Asset Turnover: 9.07% > 50% (prev 8.43%; Δ 0.65% > 0%) |
| Interest Coverage Ratio: 6.15 > 6 (EBITDA TTM 6.56b / Interest Expense TTM 812.0m) |
Altman Z'' 0.93
| A: 0.01 (Total Current Assets 90.85b - Total Current Liabilities 89.78b) / Total Assets 140.90b |
| B: 0.14 (Retained Earnings 19.70b / Total Assets 140.90b) |
| C: 0.04 (EBIT TTM 5.00b / Avg Total Assets 138.05b) |
| D: 0.17 (Book Value of Equity 19.46b / Total Liabilities 112.19b) |
| Altman-Z'' Score: 0.93 = BB |
Beneish M -2.46
| DSRI: 1.64 (Receivables 2.83b/1.56b, Revenue 12.53b/11.40b) |
| GMI: 1.02 (GM 55.36% / 56.22%) |
| AQI: 0.94 (AQ_t 0.34 / AQ_t-1 0.36) |
| SGI: 1.10 (Revenue 12.53b / 11.40b) |
| TATA: -0.01 (NI 3.16b - CFO 4.89b) / TA 140.90b) |
| Beneish M-Score: -2.46 (Cap -4..+1) = BBB |
What is the price of ICE shares?
Over the past week, the price has changed by +0.43%, over one month by +6.78%, over three months by +16.60% and over the past year by +12.63%.
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 | 191.9 | 9.6% |
| Analysts Target Price | 191.9 | 9.6% |
| ValueRay Target Price | 195.5 | 11.7% |
ICE Fundamental Data Overview January 27, 2026
P/E Forward = 23.2558
P/S = 10.1527
P/B = 3.4423
P/EG = 2.3264
Revenue TTM = 12.53b USD
EBIT TTM = 5.00b USD
EBITDA TTM = 6.56b USD
Long Term Debt = 17.37b USD (from longTermDebt, last quarter)
Short Term Debt = 1.67b USD (from shortTermDebt, last quarter)
Debt = 19.51b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 18.66b USD (from netDebt column, last quarter)
Enterprise Value = 117.65b USD (98.99b + Debt 19.51b - CCE 850.0m)
Interest Coverage Ratio = 6.15 (Ebit TTM 5.00b / Interest Expense TTM 812.0m)
EV/FCF = 26.68x (Enterprise Value 117.65b / FCF TTM 4.41b)
FCF Yield = 3.75% (FCF TTM 4.41b / Enterprise Value 117.65b)
FCF Margin = 35.20% (FCF TTM 4.41b / Revenue TTM 12.53b)
Net Margin = 25.24% (Net Income TTM 3.16b / Revenue TTM 12.53b)
Gross Margin = 55.36% ((Revenue TTM 12.53b - Cost of Revenue TTM 5.59b) / Revenue TTM)
Gross Margin QoQ = 56.83% (prev 56.07%)
Tobins Q-Ratio = 0.83 (Enterprise Value 117.65b / Total Assets 140.90b)
Interest Expense / Debt = 0.98% (Interest Expense 192.0m / Debt 19.51b)
Taxrate = 23.13% (250.0m / 1.08b)
NOPAT = 3.84b (EBIT 5.00b * (1 - 23.13%))
Current Ratio = 1.01 (Total Current Assets 90.85b / Total Current Liabilities 89.78b)
Debt / Equity = 0.68 (Debt 19.51b / totalStockholderEquity, last quarter 28.64b)
Debt / EBITDA = 2.85 (Net Debt 18.66b / EBITDA 6.56b)
Debt / FCF = 4.23 (Net Debt 18.66b / FCF TTM 4.41b)
Total Stockholder Equity = 28.18b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.29% (Net Income 3.16b / Total Assets 140.90b)
RoE = 11.22% (Net Income TTM 3.16b / Total Stockholder Equity 28.18b)
RoCE = 10.97% (EBIT 5.00b / Capital Employed (Equity 28.18b + L.T.Debt 17.37b))
RoIC = 8.02% (NOPAT 3.84b / Invested Capital 47.90b)
WACC = 6.40% (E(98.99b)/V(118.50b) * Re(7.51%) + D(19.51b)/V(118.50b) * Rd(0.98%) * (1-Tc(0.23)))
Discount Rate = 7.51% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.79%
[DCF Debug] Terminal Value 85.33% ; FCFF base≈4.05b ; Y1≈4.47b ; Y5≈5.76b
Fair Price DCF = 222.8 (EV 145.70b - Net Debt 18.66b = Equity 127.04b / Shares 570.2m; r=6.40% [WACC]; 5y FCF grow 11.86% → 2.90% )
EPS Correlation: -18.71 | EPS CAGR: -47.11% | SUE: -4.0 | # QB: 0
Revenue Correlation: 91.27 | Revenue CAGR: 7.06% | SUE: 0.78 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.84 | Chg30d=-0.006 | Revisions Net=+1 | Analysts=11
EPS next Year (2026-12-31): EPS=7.50 | Chg30d=-0.019 | Revisions Net=-1 | Growth EPS=+8.5% | Growth Revenue=+5.9%