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Intercontinental Exchange

NYSE:ICE
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ICE
NYSE
$46B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Intercontinental Exchange, Inc. operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. The last earnings update was 76 days ago. More info.


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ICE Share Price and Events
7 Day Returns
0.5%
NYSE:ICE
-0.2%
US Capital Markets
-0.1%
US Market
1 Year Returns
10%
NYSE:ICE
-6.8%
US Capital Markets
7.6%
US Market
ICE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Intercontinental Exchange (ICE) 0.5% 9.1% 7.1% 10% 65.4% 97%
US Capital Markets -0.2% 7.5% 4.2% -6.8% 53.7% 71.5%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • ICE outperformed the Capital Markets industry which returned -6.8% over the past year.
  • ICE outperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
ICE
Industry
5yr Volatility vs Market

Value

 Is Intercontinental Exchange undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Intercontinental Exchange to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Intercontinental Exchange.

NYSE:ICE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= $38.45 * 12.7%
$4.90
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $38.45
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ICE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.727 (1 + (1- 21%) (16.33%))
0.88
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.88 * 5.96%)
7.97%

Discounted Cash Flow Calculation for NYSE:ICE using Excess Returns Model Model

The calculations below outline how an intrinsic value for Intercontinental Exchange is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:ICE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.7% – 7.97%) * $38.45)
$1.83
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.83 / (7.97% - 2.73%)
$34.99
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $38.45 + $34.99
$73.44
NYSE:ICE Discount to Share Price
Calculation Result
Value per share (USD) From above. $73.44
Current discount Discount to share price of $80.53
= -1 x ($80.53 - $73.44) / $73.44
-9.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Intercontinental Exchange is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Intercontinental Exchange's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Intercontinental Exchange's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ICE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $3.46
NYSE:ICE Share Price ** NYSE (2019-04-23) in USD $80.53
United States of America Capital Markets Industry PE Ratio Median Figure of 87 Publicly-Listed Capital Markets Companies 30.49x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Intercontinental Exchange.

NYSE:ICE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ICE Share Price ÷ EPS (both in USD)

= 80.53 ÷ 3.46

23.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intercontinental Exchange is good value based on earnings compared to the US Capital Markets industry average.
  • Intercontinental Exchange is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Intercontinental Exchange's expected growth come at a high price?
Raw Data
NYSE:ICE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
3.8%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.66x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:ICE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.29x ÷ 3.8%

6.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intercontinental Exchange is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Intercontinental Exchange's assets?
Raw Data
NYSE:ICE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $30.23
NYSE:ICE Share Price * NYSE (2019-04-23) in USD $80.53
United States of America Capital Markets Industry PB Ratio Median Figure of 169 Publicly-Listed Capital Markets Companies 7.74x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:ICE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ICE Share Price ÷ Book Value per Share (both in USD)

= 80.53 ÷ 30.23

2.66x

* Primary Listing of Intercontinental Exchange.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Intercontinental Exchange is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Intercontinental Exchange's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Intercontinental Exchange has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Intercontinental Exchange expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Intercontinental Exchange expected to grow at an attractive rate?
  • Intercontinental Exchange's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Intercontinental Exchange's earnings growth is positive but not above the United States of America market average.
  • Intercontinental Exchange's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ICE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ICE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 3.8%
NYSE:ICE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 4.5%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ICE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ICE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 6,269 1
2022-12-31 6,023 1
2021-12-31 5,686 3,073 2,260 7
2020-12-31 5,499 2,919 2,080 15
2019-12-31 5,230 2,791 1,944 15
NYSE:ICE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,974 2,533 1,988
2018-09-30 4,803 2,410 2,598
2018-06-30 4,754 2,222 2,511
2018-03-31 4,688 2,047 2,475
2017-12-31 4,638 2,085 2,526
2017-09-30 4,630 2,051 1,645
2017-06-30 4,562 2,145 1,618
2017-03-31 4,511 2,163 1,556
2016-12-31 4,512 2,149 1,430
2016-09-30 4,236 1,929 1,440
2016-06-30 3,974 1,644 1,402
2016-03-31 3,642 1,443 1,328

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Intercontinental Exchange's earnings are expected to grow by 3.8% yearly, however this is not considered high growth (20% yearly).
  • Intercontinental Exchange's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ICE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Intercontinental Exchange Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ICE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 5.21 5.21 5.21 1.00
2022-12-31 4.73 4.73 4.73 1.00
2021-12-31 4.24 4.36 4.15 4.00
2020-12-31 3.79 3.99 3.60 8.00
2019-12-31 3.39 3.59 3.27 7.00
NYSE:ICE Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 3.46
2018-09-30 4.49
2018-06-30 4.31
2018-03-31 4.22
2017-12-31 4.29
2017-09-30 2.78
2017-06-30 2.72
2017-03-31 2.62
2016-12-31 2.40
2016-09-30 2.46
2016-06-30 2.44
2016-03-31 2.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Intercontinental Exchange is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Intercontinental Exchange's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Intercontinental Exchange has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Intercontinental Exchange performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Intercontinental Exchange's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Intercontinental Exchange has delivered over 20% year on year earnings growth in the past 5 years.
  • Intercontinental Exchange's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Intercontinental Exchange's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Intercontinental Exchange's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Intercontinental Exchange Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ICE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,974.00 1,988.00 1,743.00
2018-09-30 4,803.00 2,598.00 1,684.00
2018-06-30 4,754.00 2,511.00 1,647.00
2018-03-31 4,688.00 2,475.00 1,643.00
2017-12-31 4,638.00 2,526.00 1,644.00
2017-09-30 4,630.00 1,645.00 1,673.00
2017-06-30 4,562.00 1,618.00 1,676.00
2017-03-31 4,511.00 1,556.00 1,647.00
2016-12-31 4,512.00 1,430.00 1,640.00
2016-09-30 4,236.00 1,440.00 1,499.00
2016-06-30 3,974.00 1,402.00 1,370.00
2016-03-31 3,642.00 1,328.00 1,254.00
2015-12-31 3,338.00 1,274.00 1,123.00
2015-09-30 3,263.00 1,192.00 1,101.00
2015-06-30 3,192.00 1,102.00 1,119.00
2015-03-31 3,145.00 1,037.00 1,157.00
2014-12-31 3,092.00 970.00 1,178.00
2014-09-30 2,828.00 556.00 1,101.00
2014-06-30 2,421.00 481.00 900.00
2014-03-31 2,043.00 417.00 701.00
2013-12-31 1,598.00 304.00 502.00
2013-09-30 1,385.41 559.90 384.60
2013-06-30 1,370.59 549.98 384.59
2013-03-31 1,349.81 539.14 376.96
2012-12-31 1,363.00 552.00 379.00
2012-09-30 1,366.81 548.88 391.75
2012-06-30 1,384.40 550.43 398.95

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Intercontinental Exchange has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Intercontinental Exchange used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Intercontinental Exchange has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Intercontinental Exchange's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Intercontinental Exchange has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Intercontinental Exchange's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Intercontinental Exchange's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Intercontinental Exchange is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Intercontinental Exchange's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Intercontinental Exchange's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Intercontinental Exchange Company Filings, last reported 3 months ago.

NYSE:ICE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 17,302.00 7,441.00 724.00
2018-09-30 16,854.00 7,686.00 515.00
2018-06-30 16,840.00 6,916.00 532.00
2018-03-31 17,006.00 6,892.00 523.00
2017-12-31 16,985.00 6,100.00 535.00
2017-09-30 16,019.00 6,062.00 435.00
2017-06-30 15,933.00 5,897.00 415.00
2017-03-31 15,824.00 6,248.00 562.00
2016-12-31 15,790.00 6,364.00 430.00
2016-09-30 15,578.00 6,305.00 482.00
2016-06-30 15,363.00 6,530.00 414.00
2016-03-31 15,114.00 6,766.00 493.00
2015-12-31 14,875.00 7,308.00 656.00
2015-09-30 12,410.00 3,500.00 708.00
2015-06-30 12,483.00 3,263.00 700.00
2015-03-31 12,494.00 4,193.00 1,825.00
2014-12-31 12,557.00 4,277.00 1,852.00
2014-09-30 12,787.00 4,136.00 1,879.00
2014-06-30 13,540.00 3,931.00 2,083.00
2014-03-31 13,236.00 4,881.00 1,021.00
2013-12-31 12,703.00 5,058.00 1,035.00
2013-09-30 4,086.06 790.59 1,573.79
2013-06-30 3,894.04 802.80 1,493.58
2013-03-31 3,762.68 910.50 1,390.84
2012-12-31 3,677.00 1,132.00 1,612.00
2012-09-30 3,605.96 850.00 1,241.18
2012-06-30 3,407.33 862.50 1,082.02
  • Intercontinental Exchange's level of debt (43%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.8% vs 43% today).
  • Debt is well covered by operating cash flow (34%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.8x coverage).
X
Financial health checks
We assess Intercontinental Exchange's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Intercontinental Exchange has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Intercontinental Exchange's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.37%
Current annual income from Intercontinental Exchange dividends. Estimated to be 1.48% next year.
If you bought $2,000 of Intercontinental Exchange shares you are expected to receive $27 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Intercontinental Exchange's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Intercontinental Exchange's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Upcoming dividend payment

Purchase Intercontinental Exchange before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ICE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ICE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.36 7.00
2020-12-31 1.20 12.00
2019-12-31 1.08 11.00
NYSE:ICE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-07 1.100 1.451
2018-02-07 0.960 1.289
2017-02-07 0.800 1.233
2016-11-01 0.680 1.199
2016-08-03 0.680 1.237
2016-05-04 0.680 1.306
2016-02-04 0.680 1.427
2015-10-28 0.600 1.174
2015-08-05 0.600 1.277
2015-05-05 0.600 1.292
2014-11-04 0.520 1.159
2014-08-07 0.520 1.329
2014-05-08 0.520 1.356
2014-02-14 0.520 1.279
2014-02-11 0.520 1.201

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Intercontinental Exchange has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Intercontinental Exchange only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Intercontinental Exchange's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Intercontinental Exchange's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Intercontinental Exchange afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Intercontinental Exchange has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Intercontinental Exchange's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Sprecher
COMPENSATION $14,513,403
AGE 63
TENURE AS CEO 18.9 years
CEO Bio

Mr. Jeffrey C. Sprecher, also known as Jeff, Founded Intercontinental Exchange, Inc. and has been the Chairman and Chief Executive Officer of Intercontinental Exchange, Inc. (“IE”) since November 2002 and has been its Director since 2000. Mr. Sprecher serves as Chairman of the New York Stock Exchange (“NYSE”). As a power plant developer, Mr. Sprecher recognized the need among energy market participants for an accessible, standardized electronic marketplace for OTC energy contracts (“OTC”). He acquired Continental Power Exchange (“CPEX”) in 1997 to achieve his vision of an efficient market. IE was formed in 2000 and completed its Initial Public Offering in 2005 on the NYSE. He has served as IE’s Chief Executive Officer since May 2000 and as Chairman of the Board since November 2002. Mr. Sprecher has led numerous strategic initiatives that have enabled IE to expand from a single asset class — energy — into a broad range of asset classes today. These have included numerous acquisitions, including the International Petroleum Exchange of London (2001), the New York Board of Trade (2007), Creditex (2008), The Clearing Corporation (2009), the Climate Exchange (2010), NYSE Euronext (November 2013), Singapore Mercantile Exchange (2014) and Interactive Data Corporation (2015). In addition to expanding through acquisitions, Mr. Sprecher has focused IE's resources on organic growth, including developing the first cleared OTC (2002), building the first new major clearing house in the U.K. in over a century (2008) and launching the world's leading clearing houses for credit derivatives (2009). Mr. Sprecher's leadership has been recognized by Businessweek, Institutional Investor and a number of other industry publications. He was selected as a finalist in Ernst & Young's Entrepreneur of the Year program in 2002 and by MarketWatch as one of five finalists in the MarketWatch CEO of the Year program in 2006. Since 2014, he has been named one of Barron’s 30 World’s Best CEOs. In 2017, Mr. Sprecher was named Best CEO for Brokers, Asset Managers and Exchanges in an Institutional Investor’s annual poll. Mr. Sprecher is involved in a number of civic initiatives. He is the Chairman of the Metro Atlanta Chamber; is a Wisconsin Alumni Research Foundation Trustee; and is on the Board of Directors for the Buckhead Coalition, The Commerce Club and Atlanta Committee for Progress. Prior to acquiring CPEX, he served as President of Western Power Group, Inc. Mr. Sprecher earned a Bachelor of Science degree in Chemical Engineering from the University of Wisconsin at Madison and a Master of Business Administration from Pepperdine University in Malibu, California.

CEO Compensation
  • Jeff's compensation has been consistent with company performance over the past year.
  • Jeff's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Intercontinental Exchange management team in years:

2.3
Average Tenure
51
Average Age
  • The tenure for the Intercontinental Exchange management team is about average.
Management Team

Jeff Sprecher

TITLE
Chairman & CEO
COMPENSATION
$15M
AGE
63
TENURE
18.9 yrs

Ben Jackson

TITLE
President
COMPENSATION
$5M
AGE
45
TENURE
1.4 yrs

Scott Hill

TITLE
Chief Financial Officer
COMPENSATION
$5M
AGE
51
TENURE
11.9 yrs

Chuck Vice

TITLE
Vice Chairman
COMPENSATION
$7M
AGE
54
TENURE
1.4 yrs

Dave Goone

TITLE
Chief Strategy Officer
COMPENSATION
$5M
AGE
57
TENURE
18.1 yrs

Mark Wassersug

TITLE
Chief Operating Officer
AGE
48
TENURE
1.4 yrs

James Namkung

TITLE
Chief Accounting Officer & Corporate Controller
AGE
42
TENURE
1.2 yrs

Mayur Kapani

TITLE
Chief Technology Officer
TENURE
2.9 yrs

Doug Foley

TITLE
Senior Vice President of Human Resources & Administration
TENURE
5.4 yrs

Warren Gardiner

TITLE
Vice President of Investor Relations
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Intercontinental Exchange board of directors in years:

13.5
Average Tenure
63
Average Age
  • The average tenure for the Intercontinental Exchange board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Yi Shyan Lee

TITLE
Chairman of ICE Futures Singapore & ICE Clear Singapore
AGE
56
TENURE
2.4 yrs

Vincent Tese

TITLE
Independent Director
COMPENSATION
$460K
AGE
75
TENURE
15 yrs

Jeff Sprecher

TITLE
Chairman & CEO
COMPENSATION
$15M
AGE
63
TENURE
16.4 yrs

Judy Sprieser

TITLE
Independent Director
COMPENSATION
$465K
AGE
65
TENURE
15 yrs

Fred Salerno

TITLE
Lead Independent Director
COMPENSATION
$415K
AGE
74
TENURE
11.3 yrs

Tom Noonan

TITLE
Independent Director
COMPENSATION
$295K
AGE
57
TENURE
2.6 yrs

Jean-Marc Forneri

TITLE
Independent Director
COMPENSATION
$295K
AGE
59
TENURE
16.4 yrs

Charlie Crisp

TITLE
Independent Director
COMPENSATION
$400K
AGE
70
TENURE
16.4 yrs

Fred Hatfield

TITLE
Independent Director
COMPENSATION
$435K
AGE
63
TENURE
11.9 yrs

Jeff Hague

TITLE
Independent Director
COMPENSATION
$447K
AGE
57
TENURE
3.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. Nov 18 Sell Andrew Surdykowski Individual 15. Nov 18 15. Nov 18 -1,000 $80.00 $-80,000
X
Management checks
We assess Intercontinental Exchange's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Intercontinental Exchange has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Update: Intercontinental Exchange (NYSE:ICE) Stock Gained 94% In The Last Five Years

To wit, the Intercontinental Exchange share price has climbed 94% in five years, easily topping the market return of 48% (ignoring dividends). … During five years of share price growth, Intercontinental Exchange achieved compound earnings per share (EPS) growth of 35% per year. … The EPS growth is more impressive than the yearly share price gain of 14% over the same period.

Simply Wall St -

Why Intercontinental Exchange, Inc.'s (NYSE:ICE) CEO Pay Matters To You

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Jeff Sprecher's Compensation Compare With Similar Sized Companies. … is worth US$42b, and total annual CEO compensation is US$14m.

Simply Wall St -

Can Intercontinental Exchange, Inc. (NYSE:ICE) Save Your Portfolio?

Today I want to bring to light the market's darling - Intercontinental Exchange, Inc.. … Looking at its size, financial health and track record, I believe there's an opportunity with Intercontinental Exchange during these volatile times. … operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada

Simply Wall St -

What Should Investors Know About Intercontinental Exchange, Inc.'s (NYSE:ICE) Future?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … (NYSE:ICE) announced its recent earnings release on 31 December 2018,

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Intercontinental Exchange, Inc. (NYSE:ICE)

We'll look at Intercontinental Exchange, Inc.'s (NYSE:ICE) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Intercontinental Exchange's P/E ratio is 16.19. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How Much Are Intercontinental Exchange, Inc. (NYSE:ICE) Insiders Taking Off The Table?

So shareholders might well want to know whether insiders have been buying or selling shares in Intercontinental Exchange, Inc. … As a general rule we consider it to be discouraging when insiders are selling below the current price. … All up, insiders sold more shares in Intercontinental Exchange than they bought, over the last year.

Simply Wall St -

Consider These Factors, Then Buy Intercontinental Exchange Inc (NYSE:ICE)

Intercontinental Exchange Inc is a financially healthy and robust stock with a proven track record of outperformance. … We all know Intercontinental Exchange, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … View our latest analysis for Intercontinental Exchange.

Simply Wall St -

How Should Investors React To Intercontinental Exchange Inc's (NYSE:ICE) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Jeff Sprecher's Compensation Compare With Similar Sized Companies. … Our data indicates that Intercontinental Exchange Inc is worth US$42.3b, and total annual CEO compensation is US$14m.

Simply Wall St -

Is Intercontinental Exchange Inc (NYSE:ICE) A Good Dividend Stock?

Historically, Intercontinental Exchange Inc (NYSE:ICE) has paid a dividend to shareholders. … Does Intercontinental Exchange tick all the boxes of a great dividend stock? … View our latest analysis for Intercontinental Exchange

Simply Wall St -

Does Intercontinental Exchange Inc's (NYSE:ICE) PE Ratio Signal A Selling Opportunity?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind.

Simply Wall St -

Company Info

Description

Intercontinental Exchange, Inc. operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, metals, interest rates, equities, credit derivatives, exchange traded funds, bonds, and currencies. It also offers data services to support the trading, investment, risk management, and connectivity needs of customers across major asset classes. The company operates exchanges and marketplaces; cash equities, equity options, and bond exchanges; and over-the-counter markets for physical energy, fixed income, credit default swaps, and central counterparty clearing houses. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.

Details
Name: Intercontinental Exchange, Inc.
ICE
Exchange: NYSE
Founded: 2000
$45,557,669,002
565,722,948
Website: http://www.intercontinentalexchange.com
Address: Intercontinental Exchange, Inc.
5660 New Northside Drive NW,
Atlanta,
Georgia, 30328,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ICE Common Stock New York Stock Exchange US USD 16. Nov 2005
DB IC2 Common Stock Deutsche Boerse AG DE EUR 16. Nov 2005
LSE 0JC3 Common Stock London Stock Exchange GB USD 16. Nov 2005
BMV ICE * Common Stock Bolsa Mexicana de Valores MX MXN 16. Nov 2005
Number of employees
Current staff
Staff numbers
5,161
Intercontinental Exchange employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 00:42
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/02/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.