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 84,069 - -
Change - -25.64% 28.28% 16.39% 7.93% -8.96% - -
Enterprise Value (EV) 1 90,368 73,625 95,223 105,082 111,153 101,823 102,306 101,784
Change - -18.53% 29.34% 10.35% 5.78% -8.39% 0.47% -0.51%
P/E 19x 39.8x 30.7x 31.2x 28.1x 20.7x 20.7x 18.4x
PBR 3.38x 2.53x 2.86x 3.09x 3.18x 2.73x 2.62x 2.46x
PEG - -0.6x 0.5x 2.2x 1.4x 0.8x 46.12x 1.5x
Capitalization / Revenue 10.8x 7.86x 9.2x 9.22x 9.3x 7.63x 7.25x 6.79x
EV / Revenue 12.6x 10.1x 11.9x 11.3x 11.2x 9.24x 8.82x 8.22x
EV / EBITDA 19.8x 15.5x 18.3x 17.5x 16.9x 13.7x 13.2x 12.3x
EV / EBIT 21.7x 17x 20.1x 19.2x 18.6x 14.8x 14.2x 13x
EV / FCF 33.3x 25x 31.2x 27.2x 28.7x 20.9x 20.1x 18.2x
FCF Yield 3.01% 4.01% 3.21% 3.67% 3.48% 4.78% 4.99% 5.48%
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% 1.42% 1.53% 1.64%
EPS 2 7.18 2.58 4.19 4.78 5.77 7.218 7.251 8.139
Distribution rate 18.4% 58.9% 40.1% 37.7% 33.3% 29.5% 31.5% 30.2%
Net sales 1 7,146 7,292 7,988 9,279 9,931 11,022 11,600 12,377
EBITDA 1 4,556 4,760 5,195 5,995 6,559 7,414 7,759 8,269
EBIT 1 4,169 4,339 4,728 5,469 5,992 6,883 7,216 7,809
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 17,755 18,237 17,715
Reference price 2 136.77 102.59 128.43 149.01 161.96 149.75 149.75 149.75
Nbr of stocks (in thousands) 563,404 558,552 572,364 574,176 570,179 561,394 - -
Announcement Date 2/3/22 A 2/2/23 A 2/8/24 A 2/6/25 A 2/5/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.79x9.29x13.83x1.42% 84.07B
26.66x15.59x19.66x3.36% 66.06B
27.55x5.23x10.48x1.91% 57.27B
21.54x8.13x13.58x1.73% 55.97B
26.58x10.34x17.23x1.27% 52.94B
35.93x16.47x25.92x1.9% 20.26B
21.04x8.36x13.05x2.31% 18.8B
23.27x8.45x15.18x1.9% 10.29B
18.98x-4.3x-7.45x1.61% 7.9B
Average 24.71x 8.62x 13.50x 1.93% 41.51B
Weighted average by Cap. 24.66x 9.79x 15.00x 1.95%

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.