Income StatementBalance SheetCash FlowSegments
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Intercontinental Exchange Business Segments

Business, geographic, and product segment breakdowns

Intercontinental Exchange generates $13.1B in annual revenue across 3 key segments: Exchanges Segment ($8.5B), Fixed Income and Data Services Segment ($2.5B), and Mortgage Technology Segment ($2.1B). The company-wide operating margin is 41.09%. Based on the Q1 2026 filing.

Exchanges Segment (TTM)$8.5BFixed Income and Data Services Segment (TTM)$2.5BMortgage Technology Segment (TTM)$2.1B
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$86.5B
P/E Ratio22.01
ROE13.68%

Products & Services

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy futures and options$477.0M$557.0M$595.0M$482.0M$548.0M$814.0M
Cash equities and equity options$821.0M$875.0M$842.0M$701.0M$758.0M$812.0M
Fixed income data and analytics$301.0M$299.0M$306.0M$311.0M$318.0M$322.0M
Data and connectivity services$230.0M$246.0M$255.0M$264.0M$266.0M$277.0M
Financial futures and options$151.0M$156.0M$158.0M$139.0M$155.0M$256.0M
Servicing software$213.0M$221.0M$220.0M$216.0M$214.0M$222.0M
Origination technology$177.0M$175.0M$187.0M$188.0M$188.0M$192.0M
Listings$123.0M$122.0M$123.0M$125.0M$125.0M$128.0M
CDS clearing$75.0M$94.0M$82.0M$90.0M$72.0M$112.0M
OTC and other$87.0M$103.0M$96.0M$99.0M$97.0M$102.0M
Agricultural and metals futures and options$54.0M$64.0M$65.0M$51.0M$53.0M$81.0M
Data and analytics$66.0M$67.0M$66.0M$66.0M$70.0M$68.0M
Closing solutions$52.0M$47.0M$58.0M$58.0M$60.0M$57.0M
Fixed income execution$33.0M$31.0M$32.0M$33.0M$29.0M$31.0M
Data and network technology$165.3M$180.5M$180.5M$180.5M$180.5M—

Rebates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CDS clearing$0.0$2.5M$2.5M$2.5M$2.5M—

Revenues, less transaction-based expenses:

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data and connectivity services$2.1B$246.0M$255.0M$264.0M$2.2B$277.0M

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data and network technology$170.0M$172.0M$177.0M$184.0M—$192.0M

Additions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Annual Listing Revenue$13.0M$461.0M$9.0M$13.0M$12.0M$473.0M
Data Services and Other Revenue$65.0M$139.0M$85.0M$58.0M$57.0M$169.0M
Mortgage technology$41.0M$38.0M$37.0M$30.0M$33.0M$33.0M

Contract With Customer, Liability, Including New Contract Revenue, Recognized

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Annual Listing Revenue$123.0M$122.0M$124.0M$124.0M$125.0M$128.0M
Data Services and Other Revenue$93.0M$100.0M$73.0M$94.0M$101.0M$80.0M
Mortgage technology$45.0M$46.0M$36.0M$37.0M$31.0M$33.0M

Performance obligation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data Services and Other Revenue————$101.0M—
Listing Revenues————$119.0M—
Mortgage Technology————$72.0M—
Total————$292.0M—
Transaction Price————$3.4B—

Total deferred revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Annual Listing Revenue$119.0M$458.0M$343.0M$232.0M$119.0M$464.0M
Data Services and Other Revenue$130.0M$169.0M$181.0M$145.0M$101.0M$190.0M
Mortgage technology$84.0M$76.0M$77.0M$70.0M$72.0M$72.0M

Total revenues, less transaction-based expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data services revenues—$471.0M$483.0M$495.0M—$514.0M
Recurring revenues—$397.0M$395.0M$391.0M—$401.0M

Revenue related to net interest income earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Interest Income—$51.0M$55.0M$52.0M—$54.0M

Description of timing

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination technology$0.0$0.0$0.0$0.0$0.0—
Servicing software$0.0$0.0$0.0$0.0$0.0—

Period of recognition of performance obligations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Services transferred over time related to risk management of open interest performance obligations$0.0$0.0$0.0$0.0$0.0$0.0

Performance obligation percentage

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Transaction Price————96.0%—

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net assets$7.5B———$7.7B—
PP&E (Net)$288.0M———$332.0M—
Revenues, less transaction-based expenses:$810.3M$903.8M$903.8M$903.8M$903.8M—

Business Segments

Acquisition-related transaction and integration costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage Technology Segment$16.0M$31.0M$10.0M$7.0M$18.0M$40.0M
Exchanges Segment$0.0$1.0M$0.0$0.0$1.0M$1.0M
Fixed Income and Data Services Segment$0.0$0.0$0.0$2.0M$0.0$0.0

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage Technology Segment$243.0M$242.0M$245.0M$237.0M$237.0M$238.0M
Fixed Income and Data Services Segment$83.0M$84.0M$86.0M$86.0M$88.0M$84.0M
Exchanges Segment$63.0M$63.0M$64.0M$64.0M$64.0M$62.0M

Foreign currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment-$34.0M$13.0M$33.0M—$3.0M-$10.0M
Fixed Income and Data Services Segment-$3.0M$1.0M$3.0M——-$1.0M
Mortgage Technology Segment-$1.0M$0.0$0.0-$1.0M-$1.0M-$1.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage Technology Segment$17.6B$17.6B$17.6B$17.6B$17.6B$17.6B
Exchanges Segment$8.1B$8.1B$8.2B$8.2B$8.2B$8.2B
Fixed Income and Data Services Segment$4.9B$4.9B$4.9B$4.9B$4.9B$4.9B

Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mortgage Technology Segment$544.0M$537.0M$520.0M$506.0M$524.0M$552.0M
Fixed Income and Data Services Segment$368.0M$361.0M$373.0M$374.0M$378.0M$382.0M
Exchanges Segment$334.0M$354.0M$353.0M$357.0M$365.0M$378.0M

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment$902.0M$1.0B$1.1B$908.0M$999.0M$1.4B
Fixed Income and Data Services Segment$211.0M$235.0M$224.0M$244.0M$230.0M$275.0M
Mortgage Technology Segment-$36.0M-$27.0M$11.0M$22.0M$8.0M-$13.0M

Other operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment$271.0M$290.0M$289.0M$293.0M$300.0M$315.0M
Fixed Income and Data Services Segment$285.0M$277.0M$287.0M$286.0M$290.0M$298.0M
Mortgage Technology Segment$285.0M$264.0M$265.0M$262.0M$269.0M$274.0M

Revenues, less transaction-based expenses:

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment$1.2B$1.4B$1.4B$1.3B$1.4B$1.8B
Fixed Income and Data Services Segment$579.0M$596.0M$597.0M$618.0M$608.0M$657.0M
Mortgage Technology Segment$508.0M$510.0M$531.0M$528.0M$532.0M$539.0M

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment$1.9B$2.1B$2.1B$1.9B$2.0B$2.5B
Fixed Income and Data Services Segment$579.0M$596.0M$597.0M$618.0M$608.0M$657.0M
Mortgage Technology Segment$508.0M$510.0M$531.0M$528.0M$532.0M$539.0M

Transaction-based expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Exchanges Segment$707.0M$756.0M$719.0M$596.0M$638.0M$689.0M
Fixed Income and Data Services Segment$0.0$0.0$0.0$0.0$0.0$0.0
Mortgage Technology Segment$0.0$0.0$0.0$0.0$0.0$0.0

Rebates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Fixed Income and Data Services$1.8M$2.0M$2.0M$2.0M$2.0M—