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 90,530 - -
Change - -25.64% 28.28% 16.39% 7.93% -1.97% - -
Enterprise Value (EV) 1 90,368 73,625 95,223 105,082 111,153 108,360 108,783 108,260
Change - -18.53% 29.34% 10.35% 5.78% -2.51% 0.39% -0.48%
P/E 19x 39.8x 30.7x 31.2x 28.1x 22.4x 22.2x 19.8x
PBR 3.38x 2.53x 2.86x 3.09x 3.18x 2.94x 2.82x 2.66x
PEG - -0.6x 0.5x 2.2x 1.4x 0.9x 26.82x 1.6x
Capitalization / Revenue 10.8x 7.86x 9.2x 9.22x 9.3x 8.22x 7.8x 7.32x
EV / Revenue 12.6x 10.1x 11.9x 11.3x 11.2x 9.84x 9.38x 8.75x
EV / EBITDA 19.8x 15.5x 18.3x 17.5x 16.9x 14.6x 14x 13.1x
EV / EBIT 21.7x 17x 20.1x 19.2x 18.6x 15.8x 15.1x 13.9x
EV / FCF 33.3x 25x 31.2x 27.2x 28.7x 22.2x 21.3x 19.4x
FCF Yield 3.01% 4.01% 3.21% 3.67% 3.48% 4.49% 4.69% 5.16%
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% 1.32% 1.42% 1.52%
EPS 2 7.18 2.58 4.19 4.78 5.77 7.192 7.252 8.14
Distribution rate 18.4% 58.9% 40.1% 37.7% 33.3% 29.6% 31.5% 30.2%
Net sales 1 7,146 7,292 7,988 9,279 9,931 11,014 11,599 12,376
EBITDA 1 4,556 4,760 5,195 5,995 6,559 7,404 7,759 8,269
EBIT 1 4,169 4,339 4,728 5,469 5,992 6,842 7,206 7,814
Net income 1 4,058 1,446 2,368 2,754 3,315 4,011 3,993 4,351
Net Debt 1 13,311 16,323 21,714 19,524 18,807 17,830 18,252 17,730
Reference price 2 136.77 102.59 128.43 149.01 161.96 161.26 161.26 161.26
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.($)
22.42x9.84x14.63x1.32% 90.53B
25.47x15.38x18.96x3.43% 65.9B
22.42x8.41x14.03x1.69% 58.94B
28.45x5.27x10.5x1.88% 57.75B
27.21x10.54x17.58x1.24% 54.15B
32.07x15.12x23.28x1.99% 21.35B
21.61x8.44x13.39x2.32% 18.9B
14.12x7.69x10.96x6.54% 16.94B
24.16x8.71x15.11x1.82% 10.83B
Average 24.21x 9.93x 15.38x 2.47% 43.92B
Weighted average by Cap. 24.64x 10.07x 15.33x 2.12%

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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