Intercontinental Exchange (ICE)
Operator of global exchanges, fixed-income data services, and U.S. mortgage technology.
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Runs global futures and securities exchanges, including the New York Stock Exchange, while selling fixed-income data, analytics, connectivity, and U.S. mortgage software. Transaction fees are balanced by recurring data, listings, and technology revenue, with Exchanges contributing most of the business.
Operates through Exchanges, Fixed Income and Data Services, and Mortgage Technology. Exchanges runs futures and options markets for energy, financial, agricultural, and metals products, plus the New York Stock Exchange, clearing houses, listings, market data, and connectivity. Fixed Income and Data Services supplies pricing, reference data, indices, analytics, network technology, bond execution, and credit-default-swap clearing worldwide.
Mortgage Technology provides Encompass loan-origination tools and MSP servicing software alongside closing, data, and analytics products for U.S. lenders and servicers. The platform links venues with clearing, data, and connectivity while combining transaction fees with recurring data, listings, and software revenue; Exchanges contributes most revenue. Operations depend on regulatory authorization across multiple jurisdictions, and mortgage volumes affect origination-related revenue.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Raymond James | Reiterate | Rating: —Target: $208 | Target: $218 |
| Jul 31, 2026 | Deutsche Bank | Reiterate | Rating: —Target: $188 | Target: $178 |
| Jul 15, 2026 | Piper Sandler | Reiterate | Rating: —Target: $211 | Target: $190 |
| Jul 10, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $187 | Target: $163 |
| Jul 9, 2026 | Barclays | Reiterate | Rating: —Target: $193 | Target: $180 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.95B · Total debt $20.53B · Total assets $174.25B · Shareholders' equity $29.55B
- Revenue
- $3.61B
- Operating income
- $1.99B
- Net income
- $958.0M
HistoryDividendAnnual yieldUpcoming
| Institutions | 93.69% | 525.95M shares | |
|---|---|---|---|
| 1,724 holders · as of Jun 30, 2026 | |||
| Insiders | 0.10% | 583.4K shares | |
| 21 holders · as of Sep 16, 2026 | |||
| Other | 6.21% | 34.86M shares | |
| remainder | |||
561.39M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.04% | 50.73M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.58% | 36.94M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.63% | 25.97M | as of Jun 30, 2026 |
Harris Associates L PInstitution | 3.22% | 18.05M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 2.34% | 13.12M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Douglas Foley | officer: SVP, HR & Administration | −1,600 | $160.00 |
| Sep 1, 2026 | Christopher Scott Edmonds | officer: President, Fixed Income & Data | −5,000 | $160.59 |
| Sep 1, 2026 | Benjamin Jackson | officer: President | −12,862 | $160.09 |
| Aug 26, 2026 | Martha A. Tirinnanzi | director | −1,340 | $161.16 |
| Aug 26, 2026 | Andrew J. Surdykowski | officer: General Counsel | −4,574 | $161.77 |
- CME Group
Dominant US derivatives exchange competing on energy, ag, rates, and clearing.
- Nasdaq
Primary rival for US equity listings, market data, and exchange technology.
- Cboe Global Markets
ICE's 10-K-named principal options rival; also contests equities and Europe.
- S&P Global
Rival in financial data, index licensing, and fixed income benchmarks.
- Tradeweb
Leads electronic fixed income execution, directly contesting ICE Bonds.
- MSCI
Competes in index licensing, fixed income analytics, and ESG data.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Intercontinental Exchange | $153.01 | −1.52% | $87.22B | 21.9 | 18.6 | 6.5 | −18.3% |
| CME Group | $269.41 | −2.22% | $99.07B | 23.4 | 21.7 | 14.6 | +0.8% |
| Nasdaq | $94.01 | −0.72% | $52.93B | 27.6 | 21.5 | 6.1 | −28.2% |
| Cboe Global Markets | $266.44 | −1.84% | $28.41B | 21.2 | 18.7 | 5.6 | −37.7% |
| S&P Global | $403.07 | −0.35% | $119.24B | 24.6 | 21.3 | 7.4 | −2.1% |
| Tradeweb | $101.60 | −2.73% | $22.24B | 25.0 | 23.8 | 10.1 | +9.0% |
| MSCI | $551.67 | −1.31% | $40.64B | 30.8 | 26.1 | 12.2 | +12.2% |
| Median | 24.8 | 21.6 | 8.7 | −0.6% |