Intercontinental Exchange (NYSE:ICE) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Intercontinental Exchange (NYSE:ICE) announced its quarterly earnings data on Thursday. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04, FiscalAI reports. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share.

Here are the key takeaways from Intercontinental Exchange’s conference call:

• Record 2025 financials: Adjusted EPS hit $6.95 (+14%), net revenue was a record $9.9B (+6%), adjusted operating income $6B, and adjusted free cash flow $4.2B, enabling $1.3B of buybacks, a 6% dividend increase and leverage reduced to ~3.0x.
• Strong fourth-quarter and early-2026 momentum in exchanges and derivatives — Q4 net revenue $2.5B (+7%), exchange Q4 revenue $1.4B (+9%), record futures/options volumes and January monthly volumes up ~23%, with open interest materially higher in energy and rates.
• Fixed Income & Data Services drove record recurring revenue ($507M, +7%) and record index AUM ($794B, +20%); management expects mid-single-digit recurring growth in 2026 while leveraging data, connectivity and AI-enabled products.
• Mortgage Technology shows improvement (Q4 revenue $532M, transaction revenue +20%) and integration progress (annualized Black Knight synergies ~$230M exiting 2025; now targeting $275M by 2028), but headwinds remain from lower Encompass minimums and some client attrition; 2026 guidance is low- to mid-single-digit growth.
• Strategic investments and new initiatives: 2026 CapEx guidance $740–$790M (AI infrastructure and data centers), SEC-cleared U.S. cash-treasury clearing service and plans to pursue NYSE tokenized securities under existing law, positioning ICE for structural market shifts.

Intercontinental Exchange Stock Performance

ICE traded up $2.83 on Thursday, hitting $167.68. The company had a trading volume of 3,262,732 shares, compared to its average volume of 3,655,839. The company’s fifty day moving average price is $164.73 and its 200 day moving average price is $166.58. Intercontinental Exchange has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $95.61 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the completion of the transaction, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 166,068 shares of company stock valued at $25,470,702. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors have recently made changes to their positions in ICE. FWL Investment Management LLC increased its position in shares of Intercontinental Exchange by 18.9% during the third quarter. FWL Investment Management LLC now owns 535 shares of the financial services provider’s stock worth $90,000 after buying an additional 85 shares during the period. WFA of San Diego LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $125,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Intercontinental Exchange by 15.2% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 760 shares of the financial services provider’s stock worth $128,000 after buying an additional 100 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in Intercontinental Exchange in the third quarter worth approximately $132,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $206,000. 89.30% of the stock is currently owned by institutional investors.

Key Stories Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Q4 results beat expectations — Adjusted EPS of $1.71 topped estimates and revenue of $3.14B materially exceeded consensus, driven by record operating income; profitability and top-line strength are the primary near-term driver for the stock. ICE’s Q4 Earnings and Revenues Top Estimates, Dividend Raised
• Positive Sentiment: Dividend increased — Board raised the quarterly dividend to $0.52 (8% increase), signaling confidence in cash flow and shareholder returns; payout increase is supportive for income-focused investors. Intercontinental Exchange Announces 8% Increase to its Quarterly Dividend
• Positive Sentiment: Record trading volumes — January saw record total average daily volume (ADV) up ~23% year-over-year and the company reported its strongest trading month ever, supporting both revenues and forward growth outlook. Intercontinental-Exchange Reports January Statistics
• Neutral Sentiment: Earnings presentation and call materials posted — Management provided the earnings slide deck and call transcript/presentation, useful for investors digging into segment results, guidance color and expense cadence but not a new catalyst by itself. Intercontinental Exchange, Inc. 2025 Q4 – Results – Earnings Call Presentation
• Neutral Sentiment: Market/issuance noise — A separate NYSE IPO (Bob’s Discount Furniture) is debuting, which can increase exchange volumes and listings activity industry-wide but is not material to ICE’s fundamentals. Bob’s Discount Furniture to start trading on NYSE as consumers seek value
• Negative Sentiment: Mortgage-market headwinds remain a risk — Analysts and coverage pieces note that mortgage-related business pressures could temper growth; the key watch is whether elevated volumes across other products can sustainably offset any mortgage revenue weakness. ICE earnings up next: Can record volumes offset mortgage headwinds?

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Thursday, January 15th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $193.50.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.