15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.9% per year over the past 5 years.
Net income has grown faster than revenue (9.7% vs 8.9% per year).
Operating margin has expanded, at 39.0% in the latest year.
Free cash flow has grown 9.9% per year over the past 5 years.
Financial health
Total debt ($19.6B) exceeds cash ($837M); net debt is $18.8B.
Total debt has grown slower than revenue (3.5% vs 8.9% per year).
Operating income covered interest expense 6.1× in the latest year.
Total debt is 3.0× EBITDA.
Shareholder returns
Dividends have been paid for 13 consecutive years, consuming 33.3% of earnings and 25.8% of free cash flow.
The dividend has grown 10.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$12.6B
$3.3B
0.0%
39.0%
$4.3B
$19.6B
$837M
2024
$11.8B
$2.8B
0.0%
36.6%
$4.2B
$20.4B
$844M
2023
$9.9B
$2.4B
0.0%
37.3%
$3.4B
$22.6B
$899M
2022
$9.6B
$1.4B
0.0%
37.8%
$3.3B
$18.1B
$1.8B
2021
$9.2B
$4.1B
0.0%
37.6%
$2.9B
$13.9B
$607M
2020
$8.2B
$2.1B
0.0%
36.8%
$2.7B
$16.5B
$583M
2019
$6.5B
$1.9B
0.0%
40.8%
$2.5B
$7.8B
$841M
2018
$6.3B
$2.0B
0.0%
41.2%
$2.4B
$7.4B
$724M
2017
$5.8B
$2.5B
0.0%
40.7%
$1.9B
$7.9B
$535M
2016
$6.0B
$1.4B
0.0%
36.4%
$1.9B
$6.4B
$1.4B
2015
$3.3B
$1.3B
0.0%
52.4%
$1.1B
$7.3B
$1.5B
2014
—
$981M
—
—
$1.3B
$4.3B
$1.3B
2013
—
$254M
—
—
$580M
$5.1B
$961M
2012
—
$552M
—
—
$701M
$1.3B
$961M
2011
—
$510M
—
—
$656M
—
$823M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$3.7B
$1.4B
0.0%
45.4%
$1.3B
$20.4B
$863M
Dec '25
$3.1B
$851M
0.0%
39.4%
$1.1B
$19.6B
$837M
Sep '25
$3.0B
$816M
0.0%
39.0%
$853M
$19.0B
$850M
Jun '25
$3.3B
$851M
0.0%
39.8%
$1.4B
$19.2B
$1.0B
Mar '25
$3.2B
$797M
0.0%
37.8%
$881M
$20.3B
$783M
Dec '24
$3.0B
$698M
0.0%
35.5%
$1.3B
$20.4B
$844M
Sep '24
$3.0B
$657M
0.0%
36.4%
$819M
$21.2B
$755M
Jun '24
$2.9B
$632M
0.0%
36.8%
$1.1B
$21.8B
$885M
Mar '24
$2.8B
$767M
0.0%
38.0%
$951M
$22.0B
$863M
Dec '23
$2.7B
$373M
0.0%
34.7%
$883M
$22.6B
$899M
Sep '23
$2.4B
$541M
0.0%
34.8%
$725M
$23.3B
$837M
Jun '23
$2.3B
$799M
0.0%
40.9%
$1.1B
$18.1B
$2.9B
Mar '23
$2.5B
$655M
0.0%
39.2%
$632M
$18.1B
$2.1B
Dec '22
$2.4B
$425M
0.0%
36.3%
$992M
$18.1B
$1.8B
Sep '22
$2.4B
-$191M
0.0%
38.2%
$682M
$18.1B
$1.2B
Jun '22
$2.4B
$555M
0.0%
36.0%
$935M
$18.1B
$830M
Mar '22
$2.5B
$657M
0.0%
40.3%
$720M
$14.2B
$638M
Dec '21
$2.3B
$1.5B
0.0%
37.8%
$931M
$13.9B
$607M
Sep '21
$2.3B
$633M
0.0%
38.6%
$501M
$14.2B
$618M
Jun '21
$2.1B
$1.3B
0.0%
37.4%
$818M
$14.5B
$602M
Valuation over time
How the market has priced ICE against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 40.8× (Mar '23) to 21.2× (Jun '26).
The price-to-sales ratio has fallen from 6.1× (Mar '23) to 5.6× (Jun '26).
The dividend yield has risen from 1.4% (Mar '23) to 1.6% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is ICE growing its revenue and profit?
Over the past 5 years, Intercontinental Exchange's revenue has grown 8.9% per year, and net income grown 9.7% per year. These are computed facts, not advice.
How much debt does ICE have?
As of FY2025, Intercontinental Exchange reported $19.6B of total debt against $837M of cash; operating income covered interest expense 6.1×.
What is ICE's profit margin?
In FY2025, gross margin was —, operating margin 39.0%, and net margin 26.2%.
What is ICE's P/E ratio?
As of Jun '26, Intercontinental Exchange traded at a price-to-earnings ratio of about 21.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.