Intercontinental Exchange, Inc. (ICE)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look for durable businesses at sensible prices. ICE is a stalwart: FairStock classifies it as STALWART because profit grew about 9.7% a year over five years and revenue about 8.9%. Filed figures show fiscal Q2 2026, the quarter ended 2026-06-30, had revenue of $3.6B, net income of $958.0M, and diluted EPS of $1.69. Fiscal Q1 2026, the quarter ended 2026-03-31, had revenue of $3.7B, net income of $1.4B, and diluted EPS of $2.48. For fiscal year 2025, the year ended 2025-12-31, revenue was $12.6B, net income $3.3B, diluted EPS $5.77; fiscal year 2024, the year ended 2024-12-31, was $11.8B, $2.8B, and $4.78; fiscal year 2023, the year ended 2023-12-31, was $9.9B, $2.4B, and $4.19. That is steady progress. The business operates exchanges, fixed income and data services, and mortgage technology, which can enjoy regulatory barriers and network advantages, though I do not confuse a good business with a good price. Financial health is mixed: FairStock calculations show ROE of 14.09%, D/E of 0.69, FCF of $4.6B, and FCF yield of 5.3%, but ROCE is only 2.17%, Altman Z-Score is 0.60, and Piotroski is 6/9. At the close on 2026-10-13, the price was $156.42. FairStock's P/E is 22.06, P/B 2.97, PEG 1.75, EV/EBITDA 13.96, and Graham Number $91.67, leaving a margin of safety of -70.63%. The FairStock Score is 57/100. I see quality and growth, but the price already reflects much of it.

In plain English: Intercontinental Exchange runs trading exchanges and provides financial data and mortgage technology. The business is solidly profitable and has grown steadily, but at $156.42 the stock looks fully priced compared with its earnings and accounting value. It pays a small dividend and generates plenty of cash, though some balance-sheet and efficiency measures look less impressive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer