Intercontinental Exchange (ICE): analysis in plain words
Is Intercontinental Exchange cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Intercontinental Exchange (ICE) is listed on the NYSE and we classify it in financial services and payments. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Intercontinental Exchange according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Intercontinental Exchange (ICE) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $174.92 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 23.8x | Price over earnings per share |
| Revenue growth | +14.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 38.1% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.3x | Years of operating profit to repay debt |
| Dividend yield | 1.22% | Annual dividend over price |
| Market cap | $97.8 billion | What the stock market values it at |
The Intercontinental Exchange figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ICE figure that is not available shows as N/A: we do not estimate it.
How Intercontinental Exchange makes money
Intercontinental Exchange owns the New York Stock Exchange and energy futures markets including Brent crude. Its segments are Exchanges, the largest, Fixed Income and Data Services, which sells bond data and indexes, and Mortgage Technology, a mortgage software business expanded through its purchase of Black Knight.
Over the last 12 months, Intercontinental Exchange brought in revenue of $10.9 billion. For every 100 it sells, Intercontinental Exchange keeps 100.0 after the direct cost of what it sells (gross margin) and 52.8 after all operating costs (operating margin).
Intercontinental Exchange against its sector
To know whether a Intercontinental Exchange figure is high or low you have to put it next to similar companies. This table compares Intercontinental Exchange with the median of the 21 financial services and payments companies Fintols covers, with data as of November 4, 2026.
| Figure | Intercontinental Exchange | financial services and payments median |
|---|---|---|
| P/E | 23.8x | 27.9x (21) |
| Revenue growth | +14.7% | +12.4% (24) |
| Net margin | 38.1% | 25.8% (24) |
| Dividend yield | 1.22% | 0.81% (24) |
| Net debt / EBITDA | 3.3x | 0.6x (13) |
In short, against the typical financial services and payments company, Intercontinental Exchange grows faster, earns a wider margin and pays a higher dividend yield. By size, Intercontinental Exchange ranks number 10 of 22 financial services and payments companies quoted in USD on Fintols.
The bull case for Intercontinental Exchange
These are the strengths in the Intercontinental Exchange figures as of November 4, 2026:
- Its net margin over the last 12 months is 38.1% (sector median: 25.8%): Intercontinental Exchange turns a large share of its sales into profit.
- Intercontinental Exchange is selling more than a year ago: +14.7% in its latest quarter (the typical financial services and payments company grew +12.4%).
- Analysts expect Intercontinental Exchange earnings to rise: its P/E on the next 12 months of estimated earnings is 19.6x, below the current 23.8x.
The main risk for Intercontinental Exchange
Debt is heavy: Intercontinental Exchange carries net debt equal to 3.3x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of financial services and payments, Intercontinental Exchange is exposed to a drop in the payment, investment or trading volumes it earns fees on, plus regulation.
Frequently asked questions about Intercontinental Exchange
Is it a good time to buy Intercontinental Exchange stock?
Fintols does not tell you whether to buy or sell Intercontinental Exchange, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Intercontinental Exchange stock trades at $174.92, 1% below its 52-week high ($176.05) and 44% above its low ($121.79). Its P/E is 23.8x against a financial services and payments median of 27.9x, and 19.6x on the earnings analysts expect over the next 12 months. With Intercontinental Exchange, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Intercontinental Exchange pay a dividend?
Yes. As of November 4, 2026, Intercontinental Exchange pays $2.08 per share a year, which at today's price is a yield of 1.22%. It uses 28% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Intercontinental Exchange stock expensive?
It depends on what you compare it with. On P/E, Intercontinental Exchange trades at 23.8x its last 12 months of earnings: in line with the financial services and payments median (27.9x). A high P/E alone does not make Intercontinental Exchange expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Intercontinental Exchange's competitors?
On Fintols we compare Intercontinental Exchange with Moody's, CME Group and Apollo, which are also in financial services and payments. As of November 4, 2026, Moody's is worth $91.1 billion and trades on a P/E of 32.4; CME Group is worth $110.3 billion and trades on a P/E of 25.3; Apollo is worth $72.5 billion. Each has a side-by-side comparison with Intercontinental Exchange below.
Intercontinental Exchange competitors
- Moody's (MCO) analysis · Intercontinental Exchange vs Moody's comparison
- CME Group (CME) analysis · Intercontinental Exchange vs CME Group comparison
- Apollo (APO) analysis · Intercontinental Exchange vs Apollo comparison
To understand Intercontinental Exchange better
More companies like Intercontinental Exchange: financial services and payments stocks and S&P 500 companies. Open the full ICE analysis with its valuation and scenarios. Educational content about Intercontinental Exchange, not investment advice.