Intercontinental Exchange Inc (ICE) fair value: what the stock is really worth
We calculate from audited financials what Intercontinental Exchange Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Watch Intercontinental Exchange Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range $85.65 – $186.07 · fair‑value band $55.21 – $241.80 · the $155.37 price screens above the $125.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Intercontinental Exchange, Inc., together with its subsidiaries, provides technology and data to financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Canada, Asia Pacific, and the Middle East.
Show more
Intercontinental Exchange, Inc., together with its subsidiaries, provides technology and data to financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Canada, Asia Pacific, and the Middle East. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment operates regulated marketplace technology for the listing, trading, and clearing of an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange and equities, and corporate and exchange-traded funds, as well as data and connectivity services related to its exchanges and clearing houses. The Fixed Income and Data Services segment provides fixed income pricing, reference data, indices, analytics, and execution services, as well as global CDS clearing and multi-asset class data delivery technology. The Mortgage Technology segment offers a technology platform that provides customers comprehensive and digital workflow tools to address inefficiencies and mitigate risks that exist in the U.S. residential mortgage market life cycle from application through closing, servicing, and the secondary market. The company was founded in 2000 and is headquartered in Atlanta, Georgia.
Stock analysis
Intercontinental Exchange Inc (ICE) currently trades at $155.37, while our model-based Fair Value estimate is $125.68, implying the stock looks roughly 23.6% overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $126.89 per share, and 3 of the 13 models we run sit above the $155.37 price.
Bear case: the Dividend Discount group reads lowest at $31.46, and 10 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: $55.21 (bear) to $241.80 (bull), the price of $155.37 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Intercontinental Exchange Inc reported revenue of $12.6B in FY2025 versus $9.2B in FY2021, a compound +8.4%/yr. Reported net income was $3.3B in FY2025, compounding −5.0%/yr from FY2021.
Key figures
Market cap $88.7B · P/E ratio 22.3 · P/S ratio 5.84 · EPS (TTM) $6.96 · Dividend yield 1.3% · Net margin 26.1% · Return on equity 13.9% · Return on assets (EBIT) 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (medium confidence).
What moves the price
The share trades about 17% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −19%, ICE screens cheaper than that median.
Fair Value models
Bear $55.21Fair Value $125.68Bull $241.80
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($3.57 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.9%
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+40.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+10.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.0%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9% vs 10%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.37% → 39%
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.6%
Yearly sales growth analysts expect, extended to five years.
Compare Intercontinental Exchange Inc with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Data & Stock Exchanges · 55 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score68 · Above median
Fair Value upside−53% · Bottom 25%
Profitability
Return on equity (TTM)14% · Below median
Return on assets2% · Below median
Net margin (TTM)38% · Top 25%
Operating margin (TTM)57% · Top 25%
Growth and dividend
Revenue growth20% · Top 25%
Dividend yield (TTM)1.3% · Below median
Balance sheet
Debt / equity0.64× · Highest 25%
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Intercontinental Exchange Inc (ICE) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of $125.68 versus a price of $155.37, about −19% upside (overvalued).
What is the fair value of ICE?
Our model-based fair value for Intercontinental Exchange Inc is $125.68 (as of Sep 18, 2026), built from audited fundamentals. The current price: $155.37.
What is the quality score of ICE?
Intercontinental Exchange Inc has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Intercontinental Exchange Inc (ICE)?
Our model-based price target is the fair value of $125.68 (as of Sep 18, 2026) from 13 valuation models. Cautious scenario $55.21, optimistic scenario $241.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Intercontinental Exchange Inc stock forecast for 2026?
Our models put fair value at $125.68, about −19% upside versus a price of $155.37 (overvalued). Cautious scenario $55.21, optimistic scenario $241.80. The calculation is refreshed regularly with new filings.
What is the revenue of Intercontinental Exchange Inc (ICE)?
Intercontinental Exchange Inc reported trailing-twelve-month revenue of about $10.4B (latest available figure, as of Sep 18, 2026).
Does Intercontinental Exchange Inc pay a dividend?
Intercontinental Exchange Inc currently shows a dividend yield of about 1.26% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Intercontinental Exchange Inc (ICE)?
For today's price to be fair in a discounted-cash-flow model, Intercontinental Exchange Inc would have to grow free cash flow by +11.6 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of ICE use?
Our models discount Intercontinental Exchange Inc at 9.1 %: a base by market capitalisation (large), damped by beta 0.95, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Intercontinental Exchange Inc that is +11.6 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Intercontinental Exchange Inc (ICE) delivered so far?
Over the past 5 years revenue at Intercontinental Exchange Inc grew +8.9 % a year. The price currently implies +11.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Intercontinental Exchange Inc (ICE) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Intercontinental Exchange Inc (+11.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Intercontinental Exchange Inc (ICE)?
The free-cash-flow yield on the price is 4.83 %: that much free cash flow Intercontinental Exchange Inc produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Intercontinental Exchange Inc (ICE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Intercontinental Exchange Inc it is $125.68 per share (as of Sep 18, 2026), against a price of $155.37. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Intercontinental Exchange Inc stock overvalued or undervalued in 2026?
As of Sep 18, 2026, ICE trades above its calculated fair value: price $155.37, fair value $125.68, a gap of about −19% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICE?
No. The price is what the market pays today ($155.37); the fair value is what the company's own numbers justify ($125.68). For Intercontinental Exchange Inc the two are $29.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is Intercontinental Exchange Inc worth?
The market values Intercontinental Exchange Inc at about $88.7B (market capitalisation, as of Sep 18, 2026). Per share that is $155.37; our models calculate a fair value of $125.68 per share.
What do the bullish and bearish scenarios say about ICE?
Our models span a range for Intercontinental Exchange Inc: cautious scenario $55.21, base $125.68, optimistic $241.80 per share (as of Sep 18, 2026, price $155.37). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ICE?
Intercontinental Exchange Inc trades at a price-to-earnings ratio of 22.3 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $125.68 is built from several models across several years. Other multiples: PEG 2.0, P/B 2.8, P/S 7.7, EV/EBITDA 14.8.
What is the PEG ratio of ICE?
The PEG ratio of Intercontinental Exchange Inc is 1.98 (P/E divided by earnings growth, as of Sep 18, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Intercontinental Exchange Inc (ICE)?
Balance-sheet figures for Intercontinental Exchange Inc (as of Sep 18, 2026): return on equity 13.9%, debt of 0.64 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is ICE from its 52-week high?
Intercontinental Exchange Inc trades at $155.37, about 17% below its 52-week high of $187.65 and 14% above the low of $136.67 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $125.68 is for.
Which stocks are comparable to Intercontinental Exchange Inc?
From the same area (Financial Services) we also value S&P Global Inc, CME Group, Moody's Corporation, Hong Kong Exchanges and Clearing Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Intercontinental Exchange Inc stock attractive at the current price?
The data as of Sep 18, 2026: price $155.37, calculated fair value $125.68 (−19%), Quality Score 66/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICE calculated?
We run Intercontinental Exchange Inc through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $125.68, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Intercontinental Exchange Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Intercontinental Exchange Inc (ICE)?
The closing price on Sep 21, 2026 was $155.37. Our model-based fair value is $125.68, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Intercontinental Exchange Inc right now?
The model range is unusually wide ($55.21 to $241.80). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Intercontinental Exchange Inc (ICE) come from?
Earnings per share at Intercontinental Exchange Inc grew +9.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.8 %, EBIT margin +0.6 %, tax rate +0.8 %, residual (interest, one-offs) −1.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Intercontinental Exchange Inc
How large is the market capitalisation of Intercontinental Exchange Inc (ICE)?
The market capitalisation of Intercontinental Exchange Inc is $88.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Intercontinental Exchange Inc (ICE)?
The price-to-sales ratio of Intercontinental Exchange Inc is 5.84 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Intercontinental Exchange Inc (ICE)?
Earnings per share at Intercontinental Exchange Inc are $6.96 (price ÷ EPS = P/E 22.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Intercontinental Exchange Inc (ICE)?
The dividend yield of Intercontinental Exchange Inc is 1.3% (payout 28.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Intercontinental Exchange Inc (ICE)?
The net margin of Intercontinental Exchange Inc is 26.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Intercontinental Exchange Inc (ICE)?
The return on equity (ROE) of Intercontinental Exchange Inc is 13.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Intercontinental Exchange Inc (ICE)?
On an EBIT basis the return on assets of Intercontinental Exchange Inc is 2.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Intercontinental Exchange Inc (ICE)?
The operating margin of Intercontinental Exchange Inc is 57.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Intercontinental Exchange Inc (ICE)?
Revenue at Intercontinental Exchange Inc is growing +20.4% versus a year earlier (3y avg +9.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Intercontinental Exchange Inc (ICE)?
Earnings per share at Intercontinental Exchange Inc are growing +79.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Intercontinental Exchange Inc (ICE) carry?
The net debt of Intercontinental Exchange Inc is $19.4B (fiscal year 2025, ≈ 4.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Intercontinental Exchange Inc in the live analysis
One click puts Intercontinental Exchange Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 18, 2026