PerpEquities

Equity · Financial services

Is Intercontinental Exchange (ICE) tradable as a perp? Not yet

Intercontinental Exchange operates global regulated exchanges, clearing houses, and listing platforms across commodities, financials, fixed income, and equities.

Not yet listed on any perp exchange

No perpetual-futures venue lists ICE yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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TradingView symbol NYSE:ICE

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Company data

Company fundamentals

Updated 3h ago
Market cap
$87.3B
Updated 3h ago
Revenue
$13.4B
Trailing 12 months
Revenue growth
-13%
Next fiscal year
Profit margin
+30.0%
P/E
21.9
Peer P/E 20.9
Free cash flow
$4.8B
Trailing 12 months
More metrics
Net income
$4B
Trailing 12 months
P/S
6.5
Peer P/E
20.9
Similar listed perps
Revenue estimate
$11B
Next fiscal year
Earnings
2026-10-29
Revenue est. $2.7B · Updated 3h ago
Dividend
$0.52
2026-12-16

Fundamental detail

Annual + quarterly
Latest revenue$12.6B
Net margin+26.1%
Free cash flow$4.3B
Net debt$19.4B
2020$8.2B
2021$9.2B
2022$9.6B
2023$9.9B
2024$11.8B
2025$12.6B
PeriodRevenueGrowthNet incomeFCF
2020$8.2B+26%$2.1B$2.5B
2021$9.2B+11%$4.1B$2.7B
2022$9.6B+5%$1.4B$3.1B
2023$9.9B+3%$2.4B$3.1B
2024$11.8B+19%$2.8B$4.2B
2025$12.6B+7%$3.3B$4.3B
PeriodGross marginOperating marginNet marginROEROA
2020+52.1%+36.8%+25.3%+10.7%+1.7%
2021+54.7%+37.6%+44.3%+17.9%+2.1%
2022+54.0%+37.8%+15.0%+6.4%+0.7%
2023+57.1%+37.3%+23.9%+9.2%+1.7%
2024+55.5%+36.6%+23.4%+10.0%+2.0%
2025+61.9%+38.7%+26.1%+11.4%+2.4%
PeriodCashDebtNet debtCurrent ratio
2020$583M$16.9B$16.3B0.99
2021$607M$14.2B$13.6B1.01
2022$1.8B$18.4B$16.6B1.05
2023$899M$22.9B$22B1.00
2024$844M$20.7B$19.9B0.99
2025$837M$20.3B$19.4B1.02
PeriodMarket capEnterprise valueP/SP/E
2020$63.6B$79.9B7.730.4
2021$76.9B$90.4B8.418.9
2022$57.3B$73.9B6.039.6
2023$72.4B$94.4B7.330.6
2024$85.4B$105.2B7.331.0
2025$92.5B$111.9B7.327.9
Q3 2024$3B
Q4 2024$3B
Q1 2025$3.2B
Q2 2025$3.3B
Q3 2025$3B
Q4 2025$3.1B
Q1 2026$3.7B
Q2 2026$3.6B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$3B+25%$657M$819M
Q4 2024$3B+14%$698M$1.2B
Q1 2025$3.2B+15%$797M$881M
Q2 2025$3.3B+13%$851M$1.4B
Q3 2025$3B-1%$816M$853M
Q4 2025$3.1B+4%$840M$1.1B
Q1 2026$3.7B+14%$1.4B$1.2B
Q2 2026$3.6B+11%$958M$1.7B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+54.4%+36.4%+21.7%+2.4%+0.5%
Q4 2024+53.4%+35.5%+23.0%+2.5%+0.5%
Q1 2025+55.1%+37.8%+24.7%+2.8%+0.6%
Q2 2025+56.1%+39.8%+26.1%+3.0%+0.6%
Q3 2025+56.8%+39.0%+27.1%+2.8%+0.6%
Q4 2025+79.7%+38.3%+26.8%+2.9%+0.6%
Q1 2026+81.2%+45.4%+38.5%+4.8%+0.8%
Q2 2026+73.8%+55.0%+26.5%+3.2%+0.5%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$755M$21.5B$20.8B1.00
Q4 2024$844M$20.7B$19.9B0.99
Q1 2025$783M$20.6B$19.8B1.00
Q2 2025$1B$19.7B$18.7B1.01
Q3 2025$850M$19.5B$18.7B1.01
Q4 2025$837M$20.3B$19.4B1.02
Q1 2026$1.5B$21B$19.5B1.01
Q2 2026$1.1B$20.5B$19.5B1.01
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$92.2B$113B30.434.9
Q4 2024$85.5B$105.4B28.230.5
Q1 2025$99B$118.9B30.731.0
Q2 2025$105.1B$123.8B32.230.8
Q3 2025$96.4B$115B32.029.5
Q4 2025$92.5B$111.9B29.527.2
Q1 2026$89.2B$108.7B24.315.8
Q2 2026$69.4B$88.9B19.218.1

Refreshed 3h ago

Charts: revenue, profit, cash flow & valuation
Revenue$3.6BQ2 2026
$916.5M$1.8B$2.7B$3.7BQ3 2023: $2.4BQ4 2023: $2.7BQ1 2024: $2.8BQ2 2024: $2.9BQ3 2024: $3BQ4 2024: $3BQ1 2025: $3.2BQ2 2025: $3.3BQ3 2025: $3BQ4 2025: $3.1BQ1 2026: $3.7BQ2 2026: $3.6BQ3 2023Q2 2026
Net income$958MQ2 2026
$353.3M$706.5M$1.1B$1.4BQ3 2023: $541MQ4 2023: $373MQ1 2024: $767MQ2 2024: $632MQ3 2024: $657MQ4 2024: $698MQ1 2025: $797MQ2 2025: $851MQ3 2025: $816MQ4 2025: $840MQ1 2026: $1.4BQ2 2026: $958MQ3 2023Q2 2026
EBITDA$2.1BQ2 2026
$519M$1B$1.6B$2.1BQ3 2023: $1.2BQ4 2023: $1.1BQ1 2024: $1.6BQ2 2024: $1.5BQ3 2024: $1.5BQ4 2024: $1.5BQ1 2025: $1.7BQ2 2025: $1.7BQ3 2025: $1.7BQ4 2025: $1.6BQ1 2026: $1.6BQ2 2026: $2.1BQ3 2023Q2 2026
Free cash flow$1.7BQ2 2026
$434M$868M$1.3B$1.7BQ3 2023: $645MQ4 2023: $806MQ1 2024: $864MQ2 2024: $1BQ3 2024: $819MQ4 2024: $1.2BQ1 2025: $881MQ2 2025: $1.4BQ3 2025: $853MQ4 2025: $1.1BQ1 2026: $1.2BQ2 2026: $1.7BQ3 2023Q2 2026
EPS$1.69Q2 2026
$0.62$1.24$1.86$2.48Q3 2023: $0.96Q4 2023: $0.65Q1 2024: $1.33Q2 2024: $1.1Q3 2024: $1.14Q4 2024: $1.21Q1 2025: $1.38Q2 2025: $1.48Q3 2025: $1.42Q4 2025: $1.49Q1 2026: $2.48Q2 2026: $1.69Q3 2023Q2 2026
Cash / Debt$1.1BQ2 2026
$5.9B$11.8B$17.7B$23.6BQ3 2023 · Cash: $837MQ3 2023 · Debt: $23.6BQ4 2023 · Cash: $899MQ4 2023 · Debt: $22.9BQ1 2024 · Cash: $863MQ1 2024 · Debt: $22.3BQ2 2024 · Cash: $885MQ2 2024 · Debt: $22.1BQ3 2024 · Cash: $755MQ3 2024 · Debt: $21.5BQ4 2024 · Cash: $844MQ4 2024 · Debt: $20.7BQ1 2025 · Cash: $783MQ1 2025 · Debt: $20.6BQ2 2025 · Cash: $1BQ2 2025 · Debt: $19.7BQ3 2025 · Cash: $850MQ3 2025 · Debt: $19.5BQ4 2025 · Cash: $837MQ4 2025 · Debt: $20.3BQ1 2026 · Cash: $1.5BQ1 2026 · Debt: $21BQ2 2026 · Cash: $1.1BQ2 2026 · Debt: $20.5BQ3 2023Q2 2026
CashDebt
Profitability+73.8%Q2 2026
+20.3%+40.6%+60.9%+81.2%Q3 2023 · Gross margin: +58.4%Q4 2023 · Gross margin: +56.4%Q1 2024 · Gross margin: +57.9%Q2 2024 · Gross margin: +56.3%Q3 2024 · Gross margin: +54.4%Q4 2024 · Gross margin: +53.4%Q1 2025 · Gross margin: +55.1%Q2 2025 · Gross margin: +56.1%Q3 2025 · Gross margin: +56.8%Q4 2025 · Gross margin: +79.7%Q1 2026 · Gross margin: +81.2%Q2 2026 · Gross margin: +73.8%Q3 2023 · Operating margin: +34.8%Q4 2023 · Operating margin: +34.7%Q1 2024 · Operating margin: +38.0%Q2 2024 · Operating margin: +36.8%Q3 2024 · Operating margin: +36.4%Q4 2024 · Operating margin: +35.5%Q1 2025 · Operating margin: +37.8%Q2 2025 · Operating margin: +39.8%Q3 2025 · Operating margin: +39.0%Q4 2025 · Operating margin: +38.3%Q1 2026 · Operating margin: +45.4%Q2 2026 · Operating margin: +55.0%Q3 2023 · Net margin: +22.3%Q4 2023 · Net margin: +14.0%Q1 2024 · Net margin: +27.4%Q2 2024 · Net margin: +21.8%Q3 2024 · Net margin: +21.7%Q4 2024 · Net margin: +23.0%Q1 2025 · Net margin: +24.7%Q2 2025 · Net margin: +26.1%Q3 2025 · Net margin: +27.1%Q4 2025 · Net margin: +26.8%Q1 2026 · Net margin: +38.5%Q2 2026 · Net margin: +26.5%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+10.7%Q2 2026
+5.6%+12.0%+18.4%+24.9%Q3 2024: +24.9%Q4 2024: +13.7%Q1 2025: +15.3%Q2 2025: +12.6%Q3 2025: -0.9%Q4 2025: +3.6%Q1 2026: +13.5%Q2 2026: +10.7%Q3 2023Q2 2026
Shares outstanding566MQ2 2026
144.3M288.5M432.8M577MQ3 2023: 565MQ4 2023: 565MQ1 2024: 575MQ2 2024: 575MQ3 2024: 577MQ4 2024: 577MQ1 2025: 577MQ2 2025: 575MQ3 2025: 574MQ4 2025: 571.1MQ1 2026: 570MQ2 2026: 566MQ3 2023Q2 2026
Valuation18.1Q2 2026
12.324.737.049.4Q3 2023 · P/E: 28.7Q4 2023 · P/E: 49.4Q1 2024 · P/E: 25.6Q2 2024 · P/E: 31.1Q3 2024 · P/E: 34.9Q4 2024 · P/E: 30.5Q1 2025 · P/E: 31.0Q2 2025 · P/E: 30.8Q3 2025 · P/E: 29.5Q4 2025 · P/E: 27.2Q1 2026 · P/E: 15.8Q2 2026 · P/E: 18.1Q3 2023 · P/S: 25.5Q4 2023 · P/S: 27.2Q1 2024 · P/S: 28.0Q2 2024 · P/S: 27.1Q3 2024 · P/S: 30.4Q4 2024 · P/S: 28.2Q1 2025 · P/S: 30.7Q2 2025 · P/S: 32.2Q3 2025 · P/S: 32.0Q4 2025 · P/S: 29.5Q1 2026 · P/S: 24.3Q2 2026 · P/S: 19.2Q3 2023Q2 2026
P/EP/S
Revenue$12.6B2025
$3.2B$6.3B$9.5B$12.6B2018: $6.3B2019: $6.5B2020: $8.2B2021: $9.2B2022: $9.6B2023: $9.9B2024: $11.8B2025: $12.6B20182025
Net income$3.3B2025
$1B$2B$3B$4.1B2018: $2B2019: $1.9B2020: $2.1B2021: $4.1B2022: $1.4B2023: $2.4B2024: $2.8B2025: $3.3B20182025
EBITDA$6.6B2025
$1.8B$3.6B$5.3B$7.1B2018: $3.4B2019: $3.4B2020: $3.9B2021: $7.1B2022: $3.5B2023: $4.9B2024: $6.1B2025: $6.6B20182025
Free cash flow$4.3B2025
$1.1B$2.1B$3.2B$4.3B2018: $2.3B2019: $2.4B2020: $2.5B2021: $2.7B2022: $3.1B2023: $3.1B2024: $4.2B2025: $4.3B20182025
EPS$5.772025
$1.8$3.59$5.39$7.182018: $3.432019: $3.422020: $3.772021: $7.182022: $2.582023: $4.192024: $4.782025: $5.7720182025
Cash / Debt$837M2025
$5.7B$11.5B$17.2B$22.9B2018 · Cash: $724M2018 · Debt: $7.4B2019 · Cash: $841M2019 · Debt: $8.1B2020 · Cash: $583M2020 · Debt: $16.9B2021 · Cash: $607M2021 · Debt: $14.2B2022 · Cash: $1.8B2022 · Debt: $18.4B2023 · Cash: $899M2023 · Debt: $22.9B2024 · Cash: $844M2024 · Debt: $20.7B2025 · Cash: $837M2025 · Debt: $20.3B20182025
CashDebt
Profitability+61.9%2025
+15.5%+30.9%+46.4%+61.9%2018 · Gross margin: +56.6%2019 · Gross margin: +56.4%2020 · Gross margin: +52.1%2021 · Gross margin: +54.7%2022 · Gross margin: +54.0%2023 · Gross margin: +57.1%2024 · Gross margin: +55.5%2025 · Gross margin: +61.9%2018 · Operating margin: +41.2%2019 · Operating margin: +40.8%2020 · Operating margin: +36.8%2021 · Operating margin: +37.6%2022 · Operating margin: +37.8%2023 · Operating margin: +37.3%2024 · Operating margin: +36.6%2025 · Operating margin: +38.7%2018 · Net margin: +31.7%2019 · Net margin: +29.5%2020 · Net margin: +25.3%2021 · Net margin: +44.3%2022 · Net margin: +15.0%2023 · Net margin: +23.9%2024 · Net margin: +23.4%2025 · Net margin: +26.1%20182025
Gross marginOperating marginNet margin
Revenue growth+7.5%2025
+6.5%+13.0%+19.4%+25.9%2019: +4.3%2020: +25.9%2021: +11.2%2022: +5.1%2023: +2.8%2024: +18.8%2025: +7.5%20182025
Shares outstanding571.1M2025
144.8M289.5M434.3M579M2018: 579M2019: 565M2020: 555M2021: 565M2022: 561M2023: 565M2024: 576M2025: 571.1M20182025
Valuation27.92025
9.919.829.739.62018 · P/E: 21.82019 · P/E: 26.92020 · P/E: 30.42021 · P/E: 18.92022 · P/E: 39.62023 · P/E: 30.62024 · P/E: 31.02025 · P/E: 27.92018 · P/S: 6.92019 · P/S: 7.92020 · P/S: 7.72021 · P/S: 8.42022 · P/S: 6.02023 · P/S: 7.32024 · P/S: 7.32025 · P/S: 7.320182025
P/EP/S

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20268.10$11B-13%8
FY 20278.81$11.7B-8%8
FY 20289.85$12.4B-2%4
FY 202911.11$13.4B+6%1
FY 203012.65$14.2B+12%1
Q1 20272.23$2.9B-20%6

Company events

6
2026-12-16Dividend$0.52-
2026-10-29EarningsActual - / Estimate 1.9-
2026-09-16Dividend$0.52-
2026-07-30EarningsActual 1.9 / Estimate 1.84Beat
2026-06-15Dividend$0.52-
2026-04-30EarningsActual 2.35 / Estimate 2.23Beat

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
KKR$88.7B4.229.4+15.0%1LYG$84.3B1.013.5+26.7%1CME$99.2B14.723.3+63.1%3HOOD$107.7B21.851.9+42.0%30NU$66.1B3.418.4+18.6%1SPGI$119.5B7.424.7+30.5%1PYPL$44.8B1.39.8+14.4%13HBAN$32.1B2.211.7+16.6%1

Analyst track record

How the analysts covering ICE have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings83273
Analysts1619
Buy / hold / sell73 / 10 / 0233 / 40 / 0
Upgrades / downgrades / initiations2 / 0 / 04 / 1 / 2
Price targets hit / missed1 / 82 (1%)48 / 215 (18%)
Avg. return after a rating (TipRanks)-19.9%-12.3%
Best / worst call+0.2% / -38.9%+84.7% / -38.9%

After buy calls on this stock: median 21-day move +1.0% vs S&P 500 -1.5% (n = 233)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Daniel FannonJefferies89% hit rate on this stock · 9 targets measuredBuytarget $189Aug 31, 2026
  2. Patrick MoleyPiper Sandler87% hit rate on this stock · 15 targets measuredBuytarget $190Jul 15, 2026
  3. Christopher AllenKBW78% hit rate on this stock · 9 targets measuredBuytarget $170Jul 31, 2026

Latest ratings

DateAnalystCallTarget
Sep 4, 2026Alex KrammUBSBuyMaintained$195article ↗
Aug 31, 2026Daniel FannonJefferiesBuyMaintained$189article ↗
Aug 14, 2026Benjamin BudishBarclaysBuyMaintained$182article ↗
Jul 30, 2026Ashish SabadraRBC CapitalBuyMaintained$180article ↗
Jul 31, 2026Brian BedellDeutsche BankBuyReiterated$178article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$120$140$160$180$200Oct 25 · Buy 11 · Hold 1 · Sell 0Oct 25Nov 25 · Buy 11 · Hold 1 · Sell 0Dec 25 · Buy 11 · Hold 1 · Sell 0Dec 25Jan 26 · Buy 9 · Hold 1 · Sell 0Feb 26 · Buy 9 · Hold 1 · Sell 0Feb 26Mar 26 · Buy 11 · Hold 1 · Sell 0Apr 26 · Buy 10 · Hold 1 · Sell 0Apr 26May 26 · Buy 11 · Hold 1 · Sell 0Jun 26 · Buy 12 · Hold 1 · Sell 0Jun 26Jul 26 · Buy 12 · Hold 1 · Sell 0Aug 26 · Buy 13 · Hold 1 · Sell 0Aug 26Sep 26 · Buy 13 · Hold 1 · Sell 0Oct 25 · avg. target $195Nov 25 · avg. target $195Dec 25 · avg. target $194Jan 26 · avg. target $193Feb 26 · avg. target $198Mar 26 · avg. target $198Apr 26 · avg. target $198May 26 · avg. target $199Jun 26 · avg. target $193Jul 26 · avg. target $186Aug 26 · avg. target $186Sep 26 · avg. target $186Oct 25 · month-end close $146Nov 25 · month-end close $157Dec 25 · month-end close $162Jan 26 · month-end close $174Feb 26 · month-end close $164Mar 26 · month-end close $157Apr 26 · month-end close $158May 26 · month-end close $148Jun 26 · month-end close $123Jul 26 · month-end close $152Aug 26 · month-end close $161Sep 26 · month-end close $153

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 83 ratings