Intercontinental Exchange, Inc. (ICE)

Security & Commodity Brokers, Dealers, Exchanges & Services

Latest Price

$152.03

TTM P/E

21.47

Normalized P/E

29.85

Div Yield

1.32%

Book Value

52.26

P/B Ratio

2.91

Valuation metrics

EPS: $5.77

Book value / share: $51.00

Formula: √(22.5 × EPS × BVPS)

Graham Number

$81.37

46% downside

Norm. op. income: $3.6B (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$16.58

89% downside

Base FCF: $3.4B (median of recent 5yr)

Growth: 8%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$96.56

36% downside

EPS: $5.77

Target P/E: 30×

Formula: EPS × P/E

P/E Fair Value

$173.10

+14% upside

91.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	50.73M	$6.25B	9.04%	-2.17M	2026-06-30
Vanguard Capital Management LLC	36.94M	$4.55B	6.58%	+25.2K	2026-06-30
State Street Corp	25.97M	$3.20B	4.63%	+415.5K	2026-06-30
Harris Associates L P	18.05M	$2.22B	3.22%	+1.71M	2026-06-30
Morgan Stanley	13.12M	$1.61B	2.34%	-1.37M	2026-06-30
Geode Capital Management, LLC	12.82M	$1.57B	2.29%	+49.5K	2026-06-30
Vanguard Portfolio Management LLC	12.54M	$1.54B	2.24%	+725.2K	2026-06-30
Wellington Management Group LLP	11.81M	$1.45B	2.11%	+1.63M	2026-06-30
Price T Rowe Associates Inc	10.93M	$1.34B	1.95%	+174.7K	2026-06-30
Norges Bank	9.16M	$1.13B	1.63%	+405.1K	2026-06-30