Exchanges — Operating Income
Intercontinental Exchange Exchanges — Operating Income increased by 10.0% to $999.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.8%, from $902.00M to $999.00M. Over 4 years (FY 2021 to FY 2025), Exchanges — Operating Income shows an upward trend with a 12.1% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase signals strong trading volumes, effective pricing power, or successful cost management, while a decrease may indicate competitive pressure or declining market activity.
Detailed definition
This metric measures the profitability of the exchange segment by subtracting operating expenses and transaction-based c...
Peer comparison
Comparable to 'Segment Operating Profit' reported by other global exchange operators, which is a standard metric for assessing the health of core trading infrastructure businesses.
ice_segment_exchanges_operating_incomeHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $583.00M | $629.00M | $658.00M | $784.00M | $701.00M | $700.00M | $677.00M | $765.00M | $782.00M | $801.00M | $811.00M | $897.00M | $890.00M | $947.00M | $902.00M | $1.01B | $1.06B | $908.00M | $999.00M |
| QoQ Change | — | +7.9% | +4.6% | +19.1% | -10.6% | -0.1% | -3.3% | +13.0% | +2.2% | +2.4% | +1.2% | +10.6% | -0.8% | +6.4% | -4.8% | +12.3% | +4.8% | -14.5% | +10.0% |
| YoY Change | — | — | — | — | +20.2% | +11.3% | +2.9% | -2.4% | +11.6% | +14.4% | +19.8% | +17.3% | +13.8% | +18.2% | +11.2% | +12.9% | +19.3% | -4.1% | +10.8% |
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Frequently Asked Questions
- What is Intercontinental Exchange's exchanges — operating income?
- Intercontinental Exchange (ICE) reported exchanges — operating income of $999.00M in Q4 2025.
- How has Intercontinental Exchange's exchanges — operating income changed year-over-year?
- Intercontinental Exchange's exchanges — operating income increased by 10.8% year-over-year, from $902.00M to $999.00M.
- What is the long-term trend for Intercontinental Exchange's exchanges — operating income?
- Over 4 years (2021 to 2025), Intercontinental Exchange's exchanges — operating income has grown at a 12.1% compound annual growth rate (CAGR), from $2.52B to $3.98B.
- What does exchanges — operating income mean?
- The profit generated by the exchange business segment after accounting for all direct and indirect operating costs.