Intercontinental Exchange (NYSE:ICE) Announces Earnings Results

Intercontinental Exchange (NYSE:ICE) announced its quarterly earnings results on Thursday. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04, FiscalAI reports. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis.

Here are the key takeaways from Intercontinental Exchange’s conference call:

• Record 2025 financials: Adjusted EPS hit $6.95 (+14%), net revenue was a record $9.9B (+6%), adjusted operating income $6B, and adjusted free cash flow $4.2B, enabling $1.3B of buybacks, a 6% dividend increase and leverage reduced to ~3.0x.
• Strong fourth-quarter and early-2026 momentum in exchanges and derivatives — Q4 net revenue $2.5B (+7%), exchange Q4 revenue $1.4B (+9%), record futures/options volumes and January monthly volumes up ~23%, with open interest materially higher in energy and rates.
• Fixed Income & Data Services drove record recurring revenue ($507M, +7%) and record index AUM ($794B, +20%); management expects mid-single-digit recurring growth in 2026 while leveraging data, connectivity and AI-enabled products.
• Mortgage Technology shows improvement (Q4 revenue $532M, transaction revenue +20%) and integration progress (annualized Black Knight synergies ~$230M exiting 2025; now targeting $275M by 2028), but headwinds remain from lower Encompass minimums and some client attrition; 2026 guidance is low- to mid-single-digit growth.
• Strategic investments and new initiatives: 2026 CapEx guidance $740–$790M (AI infrastructure and data centers), SEC-cleared U.S. cash-treasury clearing service and plans to pursue NYSE tokenized securities under existing law, positioning ICE for structural market shifts.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $169.12 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $96.43 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.04 and a beta of 1.02. Intercontinental Exchange has a 52 week low of $143.17 and a 52 week high of $189.35. The firm’s 50-day simple moving average is $165.19 and its two-hundred day simple moving average is $166.51.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.2%. Intercontinental Exchange’s dividend payout ratio is presently 34.97%.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $194.60.

Key Stories Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Q4 earnings and revenue beat — ICE reported adjusted EPS of $1.71 (vs. ~$1.67 est.) and revenue of $3.14B, with record revenues and operating income, supporting upside to near-term earnings expectations. ICE Q4 Earnings Beat
• Positive Sentiment: Dividend increased — Board approved an 8% raise to the quarterly dividend ($0.52/share), signaling confidence in cash flow and returning capital to shareholders. Dividend Increase Announcement
• Positive Sentiment: Record energy-market volumes — ICE said January saw record hedging/trading activity in its Midland WTI (HOU) and Canadian crude markets as participants manage shifting oil flows, which boosts exchange volumes and fee revenue. Record Oil Market Activity
• Positive Sentiment: Mortgage-technology strength — ICE reported its strongest mortgage revenue quarter in 3+ years and added UWM to its Mortgage Servicing Platform, supporting growth in recurring, non-trading revenue. ICE Mortgage Results
• Positive Sentiment: Earnings call tone and guidance items — Management highlighted a strong year and provided an expense guide that analysts interpreted as constructive for margins and free cash flow. Earnings Call Transcript
• Neutral Sentiment: Sector outlook note — A Zacks industry piece names ICE among exchanges likely to benefit from higher volatility, crypto adoption and tech investments; positive tailwinds but industry-level rather than company-specific. Securities & Exchanges Stocks to Watch
• Neutral Sentiment: New listings on NYSE (e.g., Bob’s Discount Furniture IPO) are routine for the exchange business and modestly supportive of listings revenue over time. Bob’s Discount Furniture IPO

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares in the company, valued at $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,068 shares of company stock worth $25,470,702 in the last three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Intercontinental Exchange by 0.8% during the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after buying an additional 194,325 shares in the last quarter. Invesco Ltd. grew its stake in Intercontinental Exchange by 7.1% in the 3rd quarter. Invesco Ltd. now owns 2,945,401 shares of the financial services provider’s stock valued at $496,241,000 after buying an additional 194,797 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Intercontinental Exchange by 10.6% in the third quarter. Raymond James Financial Inc. now owns 2,428,884 shares of the financial services provider’s stock valued at $409,218,000 after purchasing an additional 232,388 shares in the last quarter. Boston Partners increased its position in shares of Intercontinental Exchange by 3.9% during the third quarter. Boston Partners now owns 1,288,994 shares of the financial services provider’s stock valued at $216,580,000 after buying an additional 48,730 shares during the period. Finally, Voloridge Investment Management LLC increased its holdings in Intercontinental Exchange by 30.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,230,858 shares of the financial services provider’s stock worth $207,375,000 after acquiring an additional 285,079 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.