Company Valuation: Intercontinental Exchange, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 77,057 57,302 73,509 85,558 92,346 84,911 - -
Change - -25.64% 28.28% 16.39% 7.93% -8.05% - -
Enterprise Value (EV) 1 90,368 73,625 95,223 105,082 111,153 102,729 103,521 102,882
Change - -18.53% 29.34% 10.35% 5.78% -7.58% 0.77% -0.62%
P/E 19x 39.8x 30.7x 31.2x 28.1x 21.3x 21x 18.9x
PBR 3.38x 2.53x 2.86x 3.09x 3.18x 2.75x 2.64x 2.49x
PEG - -0.6x 0.5x 2.2x 1.4x 0.9x 14.94x 1.7x
Capitalization / Revenue 10.8x 7.86x 9.2x 9.22x 9.3x 7.72x 7.32x 6.86x
EV / Revenue 12.6x 10.1x 11.9x 11.3x 11.2x 9.34x 8.92x 8.31x
EV / EBITDA 19.8x 15.5x 18.3x 17.5x 16.9x 13.9x 13.3x 12.5x
EV / EBIT 21.7x 17x 20.1x 19.2x 18.6x 15x 14.3x 13.2x
EV / FCF 33.3x 25x 31.2x 27.2x 28.7x 21.1x 20.3x 18.4x
FCF Yield 3.01% 4.01% 3.21% 3.67% 3.48% 4.74% 4.93% 5.43%
Dividend per Share 2 1.32 1.52 1.68 1.8 1.92 2.127 2.285 2.457
Rate of return 0.97% 1.48% 1.31% 1.21% 1.19% 1.41% 1.51% 1.62%
EPS 2 7.18 2.58 4.19 4.78 5.77 7.092 7.192 8.01
Distribution rate 18.4% 58.9% 40.1% 37.7% 33.3% 30% 31.8% 30.7%
Net sales 1 7,146 7,292 7,988 9,279 9,931 11,004 11,606 12,386
EBITDA 1 4,556 4,760 5,195 5,995 6,559 7,389 7,757 8,241
EBIT 1 4,169 4,339 4,728 5,469 5,992 6,867 7,223 7,817
Net income 1 4,058 1,446 2,368 2,754 3,315 4,018 3,999 4,358
Net Debt 1 13,311 16,323 21,714 19,524 18,807 17,819 18,610 17,971
Reference price 2 136.77 102.59 128.43 149.01 161.96 151.33 151.33 151.33
Nbr of stocks (in thousands) 563,404 558,552 572,364 574,176 570,179 561,394 - -
Announcement Date 2/3/22 2/2/23 2/8/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.33x9.34x13.9x1.41% 84.91B
26.36x15.36x19.36x3.41% 65.31B
28.38x5.24x10.48x1.9% 57.74B
21.88x8.26x13.78x1.7% 57B
26.77x10.29x17.14x1.27% 53.11B
31.67x15.38x23.63x1.97% 21.03B
20.82x8.28x12.9x2.34% 18.62B
12.03x6.28x8.94x8.14% 13.88B
23.64x8.57x15.38x1.87% 10.53B
Average 23.65x 9.67x 15.06x 2.67% 42.46B
Weighted average by Cap. 24.36x 9.87x 15.10x 2.18%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Intercontinental Exchange, Inc.