Stock research

Intercontinental Exchange, Inc. (ICE) Stock Research

Intercontinental Exchange operates the New York Stock Exchange and other markets plus mortgage and data services.

For the fiscal year ended December 31, 2025, Intercontinental Exchange, Inc. reported revenue of $12.6B and net income of $3.3B, with operating cash flow of $4.7B. Source: Form 10-K filed February 5, 2026

SEC data as of

Revenue
$12.6B
FY ending 2025-12-31
Net income
$3.3B
FY ending 2025-12-31
Diluted EPS
$5.77
Net margin
26.2%

Reported SEC XBRL figures. Each metric’s period and original filing are listed below.

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About Intercontinental Exchange

Exchange
NYSE: ICE
Sector
Financials
SEC industry
Security & Commodity Brokers, Dealers, Exchanges & Services (SIC 6200)
Fiscal year end
December 31

ICE key financials

Reported figures from Intercontinental Exchange, Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.

MetricValuePeriodSource
Revenue$12.6B2025-01-01 – 2025-12-31SEC filing
Net income$3.3B2025-01-01 – 2025-12-31SEC filing
Operating cash flow$4.7B2025-01-01 – 2025-12-31SEC filing
Diluted EPS$5.772025-01-01 – 2025-12-31SEC filing
Net margin26.2%2025-01-01 – 2025-12-31SEC filing
Shares outstanding568MAs of 2026-02-02SEC filing

Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.

Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.

What investors should watch in ICE

Intercontinental Exchange, Inc. sits in Financials. Banks, insurers, asset managers, and exchanges — the plumbing of capital markets, geared directly to interest rates and credit. We have not yet written company-specific drivers for ICE; the forces that matter most for the sector are:

  • ◆The shape of the yield curve and net interest margins
  • ◆Credit quality and loan-loss provisions
  • ◆Regulation and capital requirements
  • ◆Deal activity and market volatility

Key questions for the ICE thesis

Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.

Does ICE's reported profit turn into cash?

Operating cash flow was $4.7B, 1.41 times net income of $3.3B, for the fiscal year ended December 31, 2025.

Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.

Form 10-K filed February 5, 2026

How much of ICE's revenue is left as profit?

Net income was 26.2% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.

Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.

Form 10-K filed February 5, 2026

Members-only research

What members are reading this month

The thesis, the numbers behind it, and what would break it. Full access is $39 a month.

Read the full research

Congressional trading in ICE

PoliticianTrade dateTypeOwnerAmountSource
Rich McCormick2026-07-30SaleSelf$1,001 - $15,000Filing #20035204
Rich McCormick2026-06-12PurchaseSelf$1,001 - $15,000Filing #20034954
Alan Armstrong2026-03-27PurchaseSelf$1,001 - $15,000Filing #fda235b3-bad7-4637-8fa1-053f354d929c
Josh Gottheimer2026-01-26PurchaseJoint$1,001 - $15,000Filing #20033930
Rich McCormick2025-11-05PurchaseSelf$1,001 - $15,000Filing #20033610
Josh Gottheimer2025-10-16SaleJoint$1,001 - $15,000Filing #20033398
Thomas Kean2025-09-25PurchaseSelf$1,001 - $15,000Filing #20032269
Robert Bresnahan2025-01-13SaleJoint$1,001 - $15,000Filing #20024346
Julia Letlow2024-10-23PurchaseSelf$1,001 - $15,000Filing #20030977
Ritchie Torres2024-09-26SaleSelf$1,001 - $15,000Filing #20030930

All verified ICE congressional disclosures

Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.

ICE — frequently asked questions

What does Intercontinental Exchange, Inc. do?

Intercontinental Exchange operates the New York Stock Exchange and other markets plus mortgage and data services.

What were ICE's latest reported annual revenue and net income?

For the fiscal year ended December 31, 2025, Intercontinental Exchange, Inc. reported revenue of $12.6B and net income of $3.3B, with operating cash flow of $4.7B. The figures come from Intercontinental Exchange, Inc.'s SEC XBRL filings.

When does Intercontinental Exchange, Inc.'s fiscal year end?

The SEC lists Intercontinental Exchange, Inc.'s fiscal year end as December 31.

Do members of Congress trade ICE?

The current verified House and Senate snapshot contains 13 transaction rows for ICE, each linked to the original filing.

Is ICE a good investment?

This page does not rate ICE as a buy or sell. It sets out what Intercontinental Exchange, Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.

This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.

What do the ICE numbers leave unanswered?

Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.

$39/mo or $249/yr · cancel future renewals anytime · sources included