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Intercontinental Exchange ICE Exchanges Segment — Revenues, less transaction-based expenses:

Other segment segments

Fixed Income and Data Services Segment
$645M+8.0%
Mortgage Technology Segment
$557M+4.9%

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ASPSDebt exchange transaction expenses
$0-100%

Other financials

Income statement

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Revenue$3.6B+10.7%
Operating income$1.4B+7.2%
Net income$958.0M+12.6%
EPS (diluted)$1.69+14.2%

Balance sheet

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Cash & equivalents$1.1B+6.4%
Total debt$20.5B+4.4%
Total equity$29.6B+3.9%
Total assets$174.25B+20.9%

Cash flow

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Operating cash flow$2.0B+32.7%
CapEx$144.0M+140%
Free cash flow$1.9B+28.2%

Valuation

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Market cap$84.12B-21.9%
Enterprise value$103.58B-18.0%
P/E20.8×-15.0×
P/S6.3×-2.3×

Profitability

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Operating margin40.7%+3.3pp
Net margin30.1%+6.2pp
FCF margin37.8%+2.3pp

Returns & leverage

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Return on equity13.9%+3.0pp
Debt / equity0.7×0.0×
Current ratio0.0×

Where this comes from

Reported directly by Intercontinental Exchange in its filing.

Tagged under the XBRL concept ice:RevenuesLessTransactionBasedExpenses.

The source filing: Intercontinental Exchange’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 8:26 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001571949-26-000011
Six Months Ended June 30, 2026:Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended June 30, 2026:
Total revenues (1)$2,409$645$557$3,611
Transaction-based expenses945945
Total revenues, less transaction-based expenses$1,464$645$557$2,666
Timing of Revenue Recognition
Services transferred at a point in time$903$105$149$1,157
Services transferred over time5615404081,509
Total revenues, less transaction-based expenses$1,464$645$557$2,666

Item 1. Consolidated Financial Statements (Unaudited)

FAQ

What is Intercontinental Exchange's exchanges segment — revenues, less transaction-based expenses:?
Intercontinental Exchange (ICE) reported exchanges segment — revenues, less transaction-based expenses: of $1.46B in Q2 2026.
How has Intercontinental Exchange's exchanges segment — revenues, less transaction-based expenses: changed year-over-year?
Intercontinental Exchange's exchanges segment — revenues, less transaction-based expenses: increased by 3.5% year-over-year, from $1.42B to $1.46B.
What is the long-term trend for Intercontinental Exchange's exchanges segment — revenues, less transaction-based expenses:?
Over 4 years (2021 to 2025), Intercontinental Exchange's exchanges segment — revenues, less transaction-based expenses: has grown at a 8.8% compound annual growth rate (CAGR), from $3.86B to $5.41B.
What does exchanges segment — revenues, less transaction-based expenses: mean?
Calculated as the net revenue generated by the exchange segment after deducting direct transaction-related costs. This metric provides a clearer view of the underlying profitability of the exchange's core business model before accounting for fixed operating expenses.

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