NYSE$ICE

Intercontinental Exchange Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Intercontinental Exchange reported Q4 2025 net revenues of $2.5B with GAAP diluted EPS of $1.49.

Fourth-quarter consolidated net revenues rose 8% to $2.5 billion with net income attributable to ICE of $851 million. GAAP diluted EPS was $1.49 and adjusted diluted EPS was $1.71. Full-year net revenues were $9.9 billion with GAAP diluted EPS of $5.77.

  • Q4 net revenues $2.5B (+8% YoY).
  • Exchange net revenues $1.4B (+10% YoY).
  • GAAP diluted EPS $1.49; adjusted EPS $1.71.
  • FY25 net revenues $9.9B (+7% YoY).

Headline financials

Total Revenue

$2.5B

Previous: $2.79B-10.3%
EPS (adj)

$1.71

Previous: $1.52+12.5%
Operating Margin

49.0%

Previous: 46.0%+6.5%
Adjusted Operating Margin

60.0%

Previous: 58.0%+3.4%
Adjusted Net Income

$975M

Previous: $875M+11.4%
Recurring Revenue

$391M

Previous: $353M+10.8%
Transaction Revenue, net

$973M

Previous: $883M+10.2%
Net Income

$851M

Previous: $698M+21.9%
Operating Income

$1.24B

Previous: $1.08B+14.9%

Revenue & EPS history

ICE · Revenue · Quarterly

$2.5B

Q4 2025-10.3%vs Q4 2024
Beat estimate in 15 of 15 quarters(100%)
ActualEstimate

Revenue by segment

ICE · $1.43B total across 2 segments · Q3 2023

  • Exchanges
    $1.1B+10.0%
  • Mortgage Technology
    $330M+19.6%

Forward guidance

The filing outlines Intercontinental Exchange's outlook, including operating priorities, capital allocation, and key risks, with specific numeric guidance where management provided it.

Tailwinds

  • Intercontinental Exchange cites execution on growth initiatives and balance-sheet flexibility.
  • Management emphasizes capital returns and operational priorities in the filing.

Headwinds

  • Macro, pricing, and competitive pressure may affect margins.
  • One-time items and segment mix can affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.1%

Avg return

Earnings day

+0.1%

Avg return

5 days after

+2.7%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+6.4%

Q4 2014

Best reaction

-10.2%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.8%-0.6%-5.4%
Q4 2025+2.1%-0.0%+0.8%
Q3 2025-1.4%-2.4%+4.4%
Q2 2025-0.5%+0.9%-4.9%
Q1 2025+1.7%+4.3%+7.0%
Q4 2024+4.3%+3.9%+5.9%
Q3 2024-7.1%-5.2%-3.3%
Q2 2024-1.1%-0.7%+6.6%
Q1 2024+1.4%+3.9%+4.1%
Q4 2023+5.8%+4.9%+8.3%
Q3 2023-0.3%-0.0%+5.5%
Q2 2023-0.9%-0.1%+1.7%
Q1 2023+3.3%+1.3%+3.0%
Q4 2022-1.2%+0.3%-6.0%
Q3 2022+4.3%+7.3%+17.9%
Q2 2022+1.9%+1.8%-1.7%
Q1 2022-9.1%-12.2%-8.1%
Q4 2021+0.6%-1.1%+5.2%
Q3 2021+4.1%+4.4%-2.5%
Q2 2021-1.2%-1.8%-2.4%
Q1 2021-1.1%-3.8%-5.2%
Q4 2020-1.0%-1.8%-0.3%
Q3 2020+0.7%+2.4%+12.0%
Q2 2020+2.6%+1.6%+11.9%
Q1 2020-2.2%+2.5%+7.2%
Q4 2019-0.3%+2.0%+1.2%
Q3 2019-0.3%-4.0%+1.1%
Q2 2019+2.9%+3.1%+6.4%
Q1 2019-1.2%-0.8%+1.9%
Q4 2018-1.6%-1.6%-6.3%
Q3 2018+3.8%+7.0%+11.8%
Q2 2018-1.2%+0.1%+3.5%
Q1 2018-2.9%-3.2%-0.4%
Q4 2017-7.3%-5.1%+4.8%
Q3 2017+0.0%-1.0%+8.8%
Q2 2017-3.3%-3.7%-2.9%
Q1 2017+0.4%-2.5%-0.5%
Q4 2016-2.5%-1.5%+2.6%
Q3 2016-1.9%-1.3%+4.2%
Q2 2016+5.5%+4.9%+8.1%
Q1 2016+5.4%
Q4 2015-10.2%
Q3 2015+2.4%
Q2 2015+2.8%
Q1 2015+0.3%
Q4 2014+6.4%
Q3 2014+3.6%
Q2 2014-0.4%
Q1 2014-6.7%
Q4 2011+0.0%
Q4 2013+2.5%
Q3 2013+3.1%
Q2 2013-0.4%
Q1 2013+5.3%
Q4 2012+3.8%
Q3 2012+2.8%
Q2 2012-1.9%
Q1 2012-1.4%
Q3 2011-3.7%
Q2 2011+2.3%
Q1 2011-4.2%
Q4 2010-0.3%
Q3 2010+1.2%
Q2 2010-1.1%
Q1 2010+2.1%

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