Intercontinental Exchange

Financials Financial Exchanges & Data Atlanta, Georgia Last filing Feb 5, 2026 · FY2025

                    Revenue
                    FY2025
                
$12.8B
                    3y CAGR +9.4%
                    
                    P26
                    
                    +7.2%
                    
                    Net income
                    FY2025
                
$3.3B
                    Net margin +26.0%
                    
                    P62
                    
                    +20.4%
                    
                    Total assets
                    FY2025
                
$136.9B
                    ROA +2.4%
                    
                    P49
                    
                    -1.8%
                    
                    Operating cash flow
                    FY2025
                
$4.7B
                    FCF margin +30.3%
                    
                    P53
                    
                    +1.1%

15 yrs · FY2011–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

20 accounts · 3 years

Total assets $136.9B

Total liabilities $107.9B

Shareholders equity $28.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$837.0M -0.8%	$844.0M -6.1%	$899.0M
Cash Segregated	$76.8B -6.5%	$82.1B 4.0%	$79.0B
Brokerage Receivables	$6.0B 63.9%	$3.7B 14.9%	$3.2B
Other Assets	$53.3B 0.9%	$52.8B -0.5%	$53.0B
Total Assets	$136.9B -1.8%	$139.4B 2.5%	$136.1B
Liabilities
Brokerage Payables	$5.5B 71.6%	$3.2B 14.1%	$2.8B
Short Term Borrowings	$1.0B -65.8%	$3.0B 54.9%	$2.0B
Long Term Debt	$18.6B 7.3%	$17.3B -16.1%	$20.7B
Other Liabilities	$82.7B -6.1%	$88.1B 3.8%	$84.9B
Total Liabilities	$107.9B -3.4%	$111.7B 1.3%	$110.3B
Equity
Total Stockholders Equity	$28.9B 4.6%	$27.6B 7.5%	$25.7B
Preferred Stock	$0	$0	$0
Common Stock	$7.0M 0.0%	$7.0M 16.7%	$6.0M
Additional Paid In Capital	$16.6B 2.2%	$16.3B 2.1%	$16.0B
Retained Earnings	$20.3B 12.2%	$18.1B 10.5%	$16.4B
Treasury Stock	$7.8B 22.0%	$6.4B 1.3%	$6.3B
Accumulated Other Comprehensive Income	$-224.0M 33.7%	$-338.0M -15.0%	$-294.0M
Noncontrolling Interest	$54.0M 5.9%	$51.0M -26.1%	$69.0M
Temporary Equity and Other	$22.0M 0.0%	$22.0M	$0
Total Liabilitiesand Equity	$136.9B -1.8%	$139.4B 2.5%	$136.1B

Income Statement

Revenue, expense, and profitability

10 accounts · 3 years

Revenue $12.8B

Operating income Not reported

Net income $3.3B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$12.8B 7.2%	$11.9B 16.4%	$10.2B
Expenses Compensation	$2.0B 2.8%	$1.9B 19.7%	$1.6B
Expenses Operating Expenses	$6.5B 1.3%	$6.4B 11.0%	$5.7B
Other Income Expense Income Before Tax	$4.3B 19.8%	$3.6B 25.4%	$2.9B
Income Tax Income Tax Expense	$976.0M 18.2%	$826.0M 81.1%	$456.0M
net Income Other Items Below Tax	$-55.0M -14.6%	$-48.0M 31.4%	$-70.0M
net Income net Income	$3.3B 20.4%	$2.8B 16.3%	$2.4B
Earnings Per Share Basic Eps	$6 20.6%	$5 14.3%	$4
Earnings Per Share Diluted Eps	$6 20.7%	$5 14.1%	$4
Earnings Per Share Weighted Average Shares Diluted	$575.0M -0.2%	$576.0M 1.9%	$565.0M

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 3 years

Operating cash flow $4.7B

Investing cash flow $-4.2B

Financing cash flow $-6.3B

Account	2025	2024	2023
CashFlow
Operating Activities net Cash From Operating Activities	$4.7B 1.1%	$4.6B 30.1%	$3.5B
Operating Activities net Income	$3.4B 20.3%	$2.8B 14.9%	$2.4B
Operating Activities Depreciation and Amortization	$1.6B 1.5%	$1.5B 26.5%	$1.2B
Operating Activities Stock Based Compensation	$238.0M 3.0%	$231.0M -10.1%	$257.0M
Operating Activities Other Non Cash Items	$-506.0M -1397.4%	$39.0M 110.6%	$-368.0M
Investing Activities net Cash From Investing Activities	$-4.2B -361.3%	$-921.0M 89.5%	$-8.8B
Investing Activities Capital Expenditures	$-791.0M -5.2%	$-752.0M -53.8%	$-489.0M
Investing Activities Other Investing Activities	$-3.5B -1946.2%	$-169.0M 98.0%	$-8.3B
Financing Activities net Cash From Financing Activities	$-6.3B -8117.7%	$79.0M 100.1%	$-64.3B
Financing Activities Dividends Paid	$-1.1B -6.4%	$-1.0B -8.8%	$-955.0M
Financing Activities Repurchase of Common Stock	$-1.3B	$0	$0
Financing Activities Other Financing Activities	$-3.9B -452.0%	$1.1B 101.8%	$-63.4B
Cash Reconciliation Effect of Exchange Rate On Cash	$32.0M 328.6%	$-14.0M -300.0%	$7.0M
Cash Reconciliation net Change In Cash	$-5.9B -256.9%	$3.8B 105.4%	$-69.6B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	—	—	—
Net margin	+26.0%	+23.1%	+23.2%
FCF margin	+30.3%	+32.4%	+29.9%
Growth
Revenue CAGR (3y)	+9.4%	+9.1%	+7.4%
Returns
ROE	+11.5%	+10.0%	+9.2%
ROA	+2.4%	+2.0%	+1.7%
ROIC	—	—	—
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
Leverage
D/E	3.73x	4.04x	4.29x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.09x	0.09x	0.08x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Intercontinental Exchange

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