Intercontinental Exchange, Inc.

NYSE:ICE Stock Report

Market Cap: US$87.5b

Intercontinental Exchange Valuation

Is ICE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ICE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ICE ($157.4) is trading above our estimate of future cash flow value ($80.62)

Significantly Below Future Cash Flow Value: ICE is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ICE?

Key metric: As ICE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ICE. This is calculated by dividing ICE's market cap by their current earnings.
What is ICE's PE Ratio?
PE Ratio21.9x
EarningsUS$4.04b
Market CapUS$87.47b

Price to Earnings Ratio vs Peers

How does ICE's PE Ratio compare to its peers?

The above table shows the PE ratio for ICE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.8x
MCO Moody's
29.4x8.14%US$80.9b
CME CME Group
23.2x3.38%US$98.5b
SPGI S&P Global
24.6x7.08%US$121.0b
NDAQ Nasdaq
25.9x8.73%US$51.4b
ICE Intercontinental Exchange
21.9x5.87%US$87.5b

Price-To-Earnings vs Peers: ICE is good value based on its Price-To-Earnings Ratio (21.9x) compared to the peer average (25.8x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does ICE's PE Ratio compare vs other companies in the US Capital Markets Industry?

21 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GAM General American Investors Company
4.3xn/aUS$1.56b
ASA ASA Gold and Precious Metals
1.5xn/aUS$1.11b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
CRRC.F Cohn Robbins Holdings
4.3xn/aUS$283.01m
ICE 21.9xIndustry Avg. 39.6xNo. of Companies67PE020406080100+
21 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ICE is good value based on its Price-To-Earnings Ratio (21.9x) compared to the US Capital Markets industry average (39.6x).

Price to Earnings Ratio vs Fair Ratio

What is ICE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ICE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.9x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: ICE is expensive based on its Price-To-Earnings Ratio (21.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ICE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$157.40
US$187.29
+18.99%
9.51%US$232.00US$163.00n/a14
Sep ’27US$159.60
US$186.64
+16.94%
9.75%US$232.00US$163.00n/a14
Aug ’27US$152.48
US$182.23
+19.51%
7.49%US$218.00US$163.00n/a13
Jul ’27US$126.73
US$193.13
+52.40%
12.02%US$251.00US$153.00n/a15
Jun ’27US$144.96
US$199.53
+37.65%
9.84%US$251.00US$174.00n/a15
May ’27US$154.75
US$199.93
+29.20%
8.50%US$240.00US$174.00n/a15
Apr ’27US$158.08
US$197.21
+24.76%
8.70%US$244.00US$174.00n/a14
Mar ’27US$164.13
US$196.00
+19.42%
8.81%US$244.00US$174.00n/a14
Feb ’27US$173.78
US$191.86
+10.40%
8.51%US$234.00US$170.00n/a14
Jan ’27US$161.96
US$191.14
+18.02%
8.41%US$223.00US$167.00n/a14
Dec ’26US$156.94
US$190.29
+21.25%
8.44%US$218.00US$165.00n/a14
Nov ’26US$146.29
US$192.94
+31.89%
8.22%US$218.00US$164.00n/a16
Oct ’26US$162.64
US$204.50
+25.74%
6.36%US$225.00US$170.00n/a16
Sep ’26US$176.60
US$204.38
+15.73%
6.44%US$227.00US$170.00US$159.6016
Aug ’26US$184.60
US$202.75
+9.83%
7.48%US$227.00US$158.00US$152.4816
Jul ’26US$181.86
US$191.12
+5.09%
9.26%US$239.00US$158.00US$126.7317
Jun ’26US$179.80
US$192.94
+7.31%
8.36%US$239.00US$158.00US$144.9616
May ’26US$170.84
US$190.31
+11.40%
8.34%US$227.00US$158.00US$154.7516
Apr ’26US$171.49
US$189.25
+10.36%
8.93%US$237.00US$158.00US$158.0816
Mar ’26US$173.23
US$189.25
+9.25%
8.93%US$237.00US$158.00US$164.1316
Feb ’26US$159.83
US$179.44
+12.27%
8.74%US$216.00US$148.00US$173.7816
Jan ’26US$149.01
US$183.50
+23.15%
8.19%US$220.00US$148.00US$161.9616
Dec ’25US$160.96
US$179.94
+11.79%
6.57%US$200.00US$148.00US$156.9416
Nov ’25US$154.64
US$180.19
+16.52%
6.81%US$200.00US$148.00US$146.2916
Oct ’25US$161.14
US$172.00
+6.74%
7.64%US$200.00US$148.00US$162.6416
Sep ’25US$161.55
US$165.86
+2.67%
5.75%US$180.00US$148.00US$176.6014
US$187.29
Fair Value
16.0% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/11 04:15
End of Day Share Price 2026/09/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Intercontinental Exchange, Inc. is covered by 31 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen BiggarArgus Research Company
Roger FreemanBarclays
Benjamin BudishBarclays