Technology Challenges | Information Management Technology segment faces persistent headwinds with industry volumes below historical averages, projecting modest low to mid-single-digit growth amid structural shifts in market data consumption |
Core Business Strength | The exchange operations demonstrate robust momentum entering fiscal year 2026, with energy trading volumes recovering after third-quarter softness and diversified asset class exposure providing competitive advantages through network effects |
Analyst Outlook | Price targets average $188, with Barclays maintaining an Overweight rating, reflecting confidence in the company's exchange fundamentals and growth trajectory |
Earnings Momentum | ICE surpassed analyst forecasts with EPS estimates of $7.64 for FY1 and $8.38 for FY2, driven by revenue beats and disciplined expense management |

Metrics to compare | ICE | Sector Sector - Average of metrics from a broad group of related Financials sector companies | Relationship RelationshipICEPeersSector | |
|---|---|---|---|---|
P/E Ratio | 20.1x | 21.2x | 9.8x | |
PEG Ratio | 0.48 | −0.93 | 0.03 | |
Price / Book | 2.7x | 2.7x | 1.0x | |
Price / LTM Sales | 7.6x | 2.2x | 2.8x | |
Upside (Analyst Target) | 36.6% | 0.0% | 17.7% | |
Fair Value Upside | Unlock | 7.0% | 2.7% | Unlock |
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.