Last 47 quarters of trend data · Financial Services · Financial - Data & Stock Exchanges
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Intercontinental Exchange, Inc.'s quarterly P/E stands at 27.2x, down 11.7% year-over-year — suggesting improving earnings relative to price.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.06 | 27.17 | 29.66 | 30.99 | 31.25 | 30.79 | 35.23 | 31.11 | 25.83 | 49.40 | 28.65 | 19.91 | 22.28 |
| — | -11.7% | -15.8% | -0.4% | +21.0% | -37.7% | +23.0% | +56.3% | +15.9% | +46.4% | — | -16.2% | -21.7% | |
| P/S Ratio | 7.00 | 7.36 | 8.04 | 8.09 | 7.71 | 7.09 | 7.64 | 6.79 | 7.05 | 6.80 | 6.40 | 6.79 | 5.92 |
| — | +3.8% | +5.2% | +19.0% | +9.3% | +4.3% | +19.4% | +0.0% | +19.2% | +12.6% | +20.7% | +24.4% | -21.9% | |
| P/B Ratio | 3.08 | 3.19 | 3.37 | 3.70 | 3.55 | 3.10 | 3.40 | 2.94 | 3.01 | 2.81 | 2.44 | 2.66 | 2.52 |
| — | +2.9% | -0.9% | +25.7% | +18.1% | +10.2% | +39.5% | +10.8% | +19.3% | +11.5% | +8.0% | +15.3% | -23.2% | |
| P/FCF | 20.62 | 20.85 | 28.34 | 18.24 | 28.24 | 17.48 | 28.29 | 19.09 | 22.87 | 22.51 | 24.09 | 15.34 | 25.75 |
| — | +19.3% | +0.2% | -4.4% | +23.5% | -22.4% | +17.4% | +24.4% | -11.2% | +46.5% | +17.3% | +1.1% | -9.7% | |
| EV / EBITDA | 16.71 | 17.57 | 18.48 | 18.34 | 18.54 | 18.05 | 19.05 | 17.27 | 17.39 | 18.13 | 18.40 | 16.14 | 15.21 |
| — | -2.7% | -3.0% | +6.2% | +6.6% | -0.5% | +3.5% | +7.0% | +14.3% | +10.4% | +27.1% | +3.5% | -14.2% | |
| EV / EBIT | 22.04 | 22.98 | 22.66 | 23.29 | 23.44 | 23.67 | 25.30 | 22.84 | 20.84 | 30.83 | 23.91 | 19.30 | 18.24 |
| — | -2.9% | -10.5% | +1.9% | +12.5% | -23.2% | +5.8% | +18.3% | +14.3% | +23.3% | — | -1.0% | -22.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Intercontinental Exchange, Inc.'s operating margin was 38.3% in Q4 2025, down 0.7 pp QoQ and up 2.8 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. Gross margin expanded 49.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.9% | 79.7% | 56.8% | 56.1% | 55.1% | 53.4% | 54.4% | 56.3% | 57.9% | 56.4% | 58.4% | 58.4% | 55.5% |
| — | +49.2% | +4.5% | -0.3% | -4.9% | -5.3% | -6.9% | -3.6% | +4.4% | +7.4% | +7.4% | +9.2% | -0.0% | |
| Operating Margin | 38.7% | 38.3% | 39.0% | 39.8% | 37.8% | 35.5% | 36.4% | 36.8% | 38.0% | 34.7% | 34.8% | 40.9% | 39.2% |
| — | +7.9% | +7.4% | +8.1% | -0.4% | +2.4% | +4.5% | -10.0% | -3.2% | -4.5% | -9.0% | +13.5% | -2.8% | |
| Net Margin | 26.1% | 26.8% | 27.1% | 26.1% | 24.7% | 23.0% | 21.7% | 21.8% | 27.4% | 14.0% | 22.3% | 34.2% | 26.5% |
| — | +16.1% | +25.3% | +19.6% | -9.9% | +64.7% | -2.7% | -36.2% | +3.3% | -21.7% | +378.3% | +48.7% | -0.8% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.7% | 2.9% | 2.9% | 3.0% | 2.9% | 2.5% | 2.4% | 2.4% | 2.9% | 1.5% | 2.2% | 3.4% | 2.8% |
| — | +14.7% | +17.2% | +26.2% | -3.0% | +74.6% | +11.1% | -29.8% | +3.4% | -22.7% | +359.6% | +39.3% | -1.4% | |
| ROA | 2.4% | 0.6% | 0.6% | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% | 0.6% | 0.3% | 0.4% | 0.6% | 0.4% |
| — | +19.0% | +18.9% | +26.2% | -1.5% | +86.1% | +21.6% | -15.4% | +51.4% | +30.3% | +541.9% | +111.9% | +15.8% | |
| ROIC | 7.5% | 1.9% | 1.8% | 2.0% | 1.9% | 1.7% | 1.7% | 1.6% | 1.6% | 1.4% | 1.4% | 1.7% | 1.8% |
| — | +11.5% | +7.8% | +22.4% | +15.1% | +17.2% | +22.1% | -4.0% | -6.8% | -10.3% | -16.9% | +2.8% | -12.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Intercontinental Exchange, Inc.'s Debt/EBITDA ratio is 12.7x — elevated, raising questions about debt serviceability.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.70 | 0.70 | 0.68 | 0.69 | 0.74 | 0.75 | 0.79 | 0.83 | 0.85 | 0.89 | 0.93 | 0.77 | 0.79 |
| — | -6.3% | -13.9% | -16.7% | -13.3% | -15.9% | -14.7% | +7.7% | +7.3% | +10.1% | +12.8% | -4.5% | +24.1% | |
| Debt / EBITDA | 3.14 | 12.73 | 12.50 | 11.62 | 12.81 | 14.12 | 14.45 | 15.29 | 15.45 | 17.57 | 20.45 | 15.01 | 14.94 |
| — | -9.9% | -13.5% | -24.0% | -17.1% | -19.6% | -29.4% | +1.9% | +3.4% | +7.8% | +30.3% | -8.1% | +28.6% | |
| Current Ratio | 1.02 | 1.02 | 1.01 | 1.01 | 1.00 | 0.99 | 1.00 | 0.99 | 1.01 | 1.00 | 1.00 | 1.10 | 1.08 |
| — | +2.5% | +1.0% | +1.1% | -0.7% | -0.9% | +0.0% | -9.6% | -6.7% | -4.6% | -4.1% | +5.7% | +7.3% | |
| Quick Ratio | 1.02 | 1.02 | 1.01 | 1.01 | 1.00 | 0.99 | 1.00 | 0.99 | 1.01 | 1.00 | 1.00 | 1.10 | 1.08 |
| — | +2.5% | +1.0% | +1.1% | -0.7% | -0.9% | +0.0% | -9.6% | -6.7% | -4.6% | -4.1% | +5.7% | +7.3% | |
| Interest Coverage | 6.51 | 6.69 | 6.63 | 6.63 | 6.18 | 5.25 | 5.03 | 4.70 | 5.00 | 3.06 | 4.31 | 5.84 | 5.82 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Intercontinental Exchange, Inc.'s current P/E is 27.1x. The average P/E over the last 4 quarters is 29.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Intercontinental Exchange, Inc.'s current operating margin is 38.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Intercontinental Exchange, Inc.'s business trajectory between earnings reports.