Intercontinental Exchange, Inc. (ICE)

Security & Commodity Brokers, Dealers, Exchanges & Services

Latest Price

$152.48

TTM P/E

22.20

Normalized P/E

30.66

Div Yield

1.29%

Book Value

51.99

P/B Ratio

2.93

Valuation metrics

EPS: $5.77

Book value / share: $51.00

Formula: √(22.5 × EPS × BVPS)

Graham Number

$81.37

47% 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

37% downside

EPS: $5.77

Target P/E: 31×

Formula: EPS × P/E

P/E Fair Value

$178.87

+17% upside

84.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	52.90M	$8.32B	9.35%	-819.1K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	36.91M	$5.80B	6.52%	--	2026-03-31
STATE STREET CORP	25.55M	$4.02B	4.51%	-102.8K	2026-03-31
HARRIS ASSOCIATES L P	16.34M	$2.57B	2.89%	+757.7K	2026-03-31
MORGAN STANLEY	14.49M	$2.28B	2.56%	-1.39M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	12.77M	$2.00B	2.26%	+272.4K	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	11.81M	$1.86B	2.09%	--	2026-03-31
PRICE T ROWE ASSOCIATES INC /MD/	10.76M	$1.69B	1.90%	+2.02M	2026-03-31
WELLINGTON MANAGEMENT GROUP LLP	10.18M	$1.60B	1.80%	+2.05M	2026-03-31
NORTHERN TRUST CORP	6.93M	$1.09B	1.22%	+10.9K	2026-03-31