Intercontinental Exchange, Inc.
ICE · Price history
Price at last available close
$155.44
+$2.53 (+1.65%) 1M
2026-10-27
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About Intercontinental Exchange, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 9, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
Intercontinental Exchange operates a global business model centered on providing financial market technology, data, and clearing services. The company generates revenue through transaction-based fees from its exchanges and clearing houses, as well as recurring subscription-based revenue from its data, analytics, and mortgage technology platforms.
Products & services
ICE provides regulated marketplace technology for trading and clearing derivatives and financial securities, alongside comprehensive data, index services, and digital workflow tools for the U.S. residential mortgage market.
Brands & revenue mix
The primary corporate brand encompassing all exchange, data, and mortgage technology operations.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company does not disclose specific customer concentration in its 2025 Annual Report, noting that no single customer accounted for more than 10% of its consolidated revenues.
Suppliers, materials & equipment
- Third-party cloud providers — ICE utilizes various third-party cloud providers to facilitate integration with its own data center infrastructure.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
51
Fair
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
72
Strong
Financial Strength
76
Business Quality / Moat
86
Management
75
Growth Quality
36
Risk / Durability
76
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
63
Fully Valued
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
64/100
Building Historical Record
Model Score 64/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for ICE
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can ICE maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is ICE's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is ICE's debt load manageable relative to cash generation, interest costs and upcoming maturities?
Essential Investment Snapshot
Wall Street Score
51
Opportunity Score
63
Market Cap
$87.26B
P/E Ratio
21.4
EPS
$7.11
52-Week High
$176.05
52-Week Low
$121.79
Beta
0.93
Intrinsic Value
$194.97
Analyst Target
$180.00
Shares Outstanding
571.1M
Total Revenue
$13.42B
Total Debt
$20.53B
Dividend Yield (TTM)
1.31%
Liquidation Value / Share
$51.92
Dividend / Share (TTM)
$2.04
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ICE
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on ICE.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Diversified recurring revenue streams.
- +Resilient exchange and clearing infrastructure.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Financial - Data & Stock Exchanges industry.
- −Regulatory compliance burdens and costs.
- −Cybersecurity and operational resilience threats.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
43
Aug 14, 2026
Change
+7.7
points
Current Score
51
Oct 1, 2026
Category Changes
ICE increased 7.7 points because Valuation improved by 37.7 points, Buffett improved by 3.8 points.
Positive Contributors
- + Valuation improved by 37.7 points
- + Buffett improved by 3.8 points
Projected Score
Projected Score
55
Projected Change
+4.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 4.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
UndervaluedCurrent Price
$155.44
Model Intrinsic Value
$194.97
Difference
−$39.53
-20.3% vs IV
Margin of Safety
20.3%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.42B | $12.64B | $11.76B | $9.90B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $3.57B | $4.82B | $5.24B | $4.24B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $9.86B | $7.82B | $6.52B | $5.66B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $2.99B | $1.70B | $572.0M | $481.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $3.83B | $2.92B | $2.21B | $1.97B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $6.98B | $6.64B | $6.08B | $4.92B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $6.03B | $4.90B | $4.31B | $3.69B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $782.0M | $781.0M | $910.0M | $808.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $5.33B | $4.35B | $3.63B | $2.89B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $1.25B | $991.0M | $826.0M | $456.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $4.03B | $3.30B | $2.75B | $2.37B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $7.11 | $5.80 | $4.80 | $4.20 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 564M | 571M | 573M | 564M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 566M | 571M | 576M | 565M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$3.61B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.69
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+4.4%
Cash Change
+6.4%
Margin Change
+0.4 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 10.7%. EPS increased 14.2%. Cash increased 6.4%. Total debt increased 4.4%. Net income margin improved by 0.4 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
55
Smart Money
55
Number of Gurus
7
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Financial - Data & Stock ExchangesNews
Gear Up for ICE (ICE) Q3 Earnings: Wall Street Estimates for Key Metrics
NYC Mayor Mamdani Says ICE 'Makes Us Less Safe'
Can ICE's Exchange Business Sustain Its Growth Momentum?
ICE brings futures trading to London's $190 billion-a-day physical gold market
Rumor Mill · ICE
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial