Intercontinental Exchange, Inc.
Financial ServicesNYSE:ICE · New York Stock Exchange
+$1.55 today
Vol 2.37M · Avg 3.56M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$13.1B of revenue converted into $3.9B of net income for the selected period. Gross margin is 68.5% and net margin is 29.6%, showing how much revenue survives after costs and taxes. EPS is $6.87, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6B +7.5% | $11.8B +18.8% | $9.9B +2.8% | $9.6B +5.1% | $9.2B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $4.8B -8.1% | $5.2B +23.4% | $4.2B -4.3% | $4.4B +6.8% | $4.2B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $7.8B +19.9% | $6.5B +15.3% | $5.7B +8.8% | $5.2B +3.7% | $5.0B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 61.9% +6.4pp | 55.5% -1.7pp | 57.1% +3.2pp | 54.0% -0.7pp | 54.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $1.7B +197.7% | $572.0M +18.9% | $481.0M +9.3% | $440.0M -3.9% | $458.0M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $2.9B +32.2% | $2.2B +12.6% | $2.0B +25.6% | $1.6B -0.3% | $1.6B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $1.6B +1.5% | $1.5B +26.5% | $1.2B +17.8% | $1.0B +2.2% | $1.0B | $374.2M | $1.2B | $631.8M |
| EBITDA | $6.6B +9.3% | $6.1B +23.6% | $4.9B +42.3% | $3.5B -51.5% | $7.1B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 52.6% +0.9pp | 51.7% +2.0pp | 49.7% +13.8pp | 35.9% -41.9pp | 77.8% | 5.6% | 46.3% | 42.0% |
| Operating Income | $4.9B +13.6% | $4.3B +16.6% | $3.7B +1.5% | $3.6B +5.5% | $3.4B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 38.7% +2.1pp | 36.6% -0.7pp | 37.3% -0.5pp | 37.8% +0.1pp | 37.6% | 16.6% | 24.1% | 22.0% |
| Interest Income | $140.0M -0.7% | $141.0M -55.8% | $319.0M +195.4% | $108.0M +10700.0% | $1.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $781.0M -14.2% | $910.0M +12.6% | $808.0M +31.2% | $616.0M +45.6% | $423.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$546.0M +19.8% | -$681.0M +14.9% | -$800.0M +56.3% | -$1.8B -181.4% | $2.2B | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $4.3B +19.9% | $3.6B +25.4% | $2.9B +60.1% | $1.8B -68.3% | $5.7B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 34.4% +3.6pp | 30.8% +1.6pp | 29.2% +10.5pp | 18.8% -43.4pp | 62.2% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $991.0M +20.0% | $826.0M +81.1% | $456.0M +47.1% | $310.0M -81.0% | $1.6B | $1.3B | -$1.6B | $745.2M |
| Net Income | $3.3B +20.0% | $2.8B +16.3% | $2.4B +63.8% | $1.4B -64.4% | $4.1B | $4.9B | $4.8B | $4.7B |
| Net Margin | 26.1% +2.7pp | 23.4% -0.5pp | 23.9% +8.9pp | 15.0% -29.3pp | 44.3% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $6 +20.8% | $5 +14.3% | $4 +62.2% | $3 -64.1% | $7 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $6 +20.7% | $5 +14.1% | $4 +62.4% | $3 -64.1% | $7 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $571.1M -0.3% | $573.0M +1.6% | $564.0M +0.9% | $559.0M -0.5% | $562.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $571.1M -0.8% | $576.0M +1.9% | $565.0M +0.7% | $561.0M -0.7% | $565.0M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Mizuho Financial Group, Inc.
NYSE:MFG
$117.92B
The Bank of Nova Scotia
NYSE:BNS
$102.98B
CME Group Inc.
NASDAQ:CME
$97.67B
The Bank of New York Mellon Corporation
BK
$97.40B
Marsh & McLennan Companies, Inc.
MMC
$89.82B
Moody's Corporation
NYSE:MCO
$78.24B
Brookfield Asset Management Ltd.
NYSE:BAM
$75.26B
Nu Holdings Ltd.
NYSE:NU
$59.04B
Nasdaq, Inc.
NASDAQ:NDAQ
$50.32B
Coinbase Global, Inc.
NASDAQ:COIN
$42.10B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does ICE generate?
Intercontinental Exchange, Inc. (ICE) reported $12.64B of revenue in fiscal 2025.
Is ICE profitable?
Intercontinental Exchange, Inc. (ICE) reported $3.30B of net income, with a net margin of 26.1%.
Explore More
Continue the stock analysis
Jump to another research area for this company.