Intercontinental Exchange, Inc. (ICE) Income Statement
ICE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsICE revenue and net income
Where ICE's revenue goes
2025Each bar shows an amount and its share of revenue. ICE kept 26.1% of revenue as net income.
ICE profit margins
ICE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.5% | +9.5% | +8.9% | +10.4% |
| Gross profit | +19.9% | +14.6% | +12.7% | +12.0% |
| Operating income | +13.6% | +10.4% | +10.1% | +10.8% |
| Net income | +20.0% | +31.7% | +9.6% | +10.0% |
| EPS (diluted) | +14.5% | +9.4% | +9.0% | +11.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ICE quarterly EPS vs estimates
Intercontinental Exchange beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.96).
ICE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.64B | $11.76B | $9.90B | $9.64B | $9.17B | $8.24B | $6.55B | $6.28B | $5.84B | $5.97B |
| Cost of revenue | $4.82B | $5.24B | $4.24B | $4.43B | $4.15B | $3.94B | $2.86B | $2.72B | $2.55B | $2.79B |
| Gross profit | $7.82B | $6.52B | $5.66B | $5.20B | $5.02B | $4.30B | $3.69B | $3.55B | $3.29B | $3.19B |
| Research & development | — | — | $0 | $0 | $1 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $1.70B | $837.0M | $696.0M | $440.0M | $458.0M | $410.0M | $354.0M | $350.0M | $345.0M | $323.0M |
| Total operating expenses | $2.92B | $2.21B | $1.97B | $1.56B | $1.57B | $1.27B | $1.02B | $970.0M | $916.0M | $1.01B |
| Operating income | $4.90B | $4.31B | $3.69B | $3.64B | $3.45B | $3.03B | $2.67B | $2.58B | $2.38B | $2.17B |
| Interest income | $119.0M | $141.0M | $319.0M | $1.78B | $844.0M | $10.0M | $35.0M | $22.0M | $179.0M | $175.0M |
| Interest expense | $781.0M | $910.0M | $808.0M | $616.0M | $423.0M | $357.0M | $285.0M | $244.0M | $187.0M | $178.0M |
| Income before taxes | $4.35B | $3.63B | $2.89B | $1.81B | $5.70B | $2.77B | $2.48B | $2.52B | $2.53B | $2.04B |
| Income taxes | $991.0M | $826.0M | $456.0M | $310.0M | $1.63B | $658.0M | $521.0M | $500.0M | −$28.0M | $586.0M |
| Net income | $3.30B | $2.75B | $2.37B | $1.45B | $4.06B | $2.09B | $1.93B | $1.99B | $2.53B | $1.43B |
| EBITDA | $6.64B | $6.08B | $4.92B | $3.46B | $7.13B | $3.87B | $3.43B | $3.35B | $3.25B | $2.83B |
| EPS (diluted) | $6.95 | $6.07 | $5.63 | $5.31 | $5.14 | $4.51 | $3.87 | $3.59 | $2.95 | $2.78 |
| Gross margin | 61.9% | 55.5% | 57.1% | 54.0% | 54.7% | 52.1% | 56.4% | 56.6% | 56.4% | 53.3% |
| Operating margin | 38.7% | 36.6% | 37.3% | 37.8% | 37.6% | 36.8% | 40.8% | 41.2% | 40.7% | 36.4% |
| Net margin | 26.1% | 23.4% | 23.9% | 15.0% | 44.3% | 25.3% | 29.5% | 31.7% | 43.2% | 23.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.67B | $3.67B | $3.14B | $3.01B | $3.26B | $3.23B | $3.03B | $3.03B | $2.90B | $2.80B | $2.67B | $2.43B |
| Cost of revenue | $945.0M | $689.0M | $636.0M | $1.30B | $1.43B | $1.45B | $1.41B | $1.38B | $1.27B | $1.18B | $1.16B | $1.01B |
| Gross profit | $2.67B | $2.98B | $2.50B | $1.71B | $1.83B | $1.78B | $1.62B | $1.65B | $1.63B | $1.62B | $1.50B | $1.42B |
| Sales, general & admin | $874.0M | $887.0M | $1.30B | $139.0M | $127.0M | $137.0M | $137.0M | $194.0M | $168.0M | $143.0M | $132.0M | $110.0M |
| Total operating expenses | $1.27B | $1.31B | $1.30B | $535.0M | $532.0M | $558.0M | $542.0M | $547.0M | $564.0M | $560.0M | $579.0M | $574.0M |
| Operating income | $1.39B | $1.67B | $1.20B | $1.17B | $1.30B | $1.22B | $1.08B | $1.10B | $1.07B | $1.06B | $925.0M | $845.0M |
| Interest income | $27.0M | $24.0M | $27.0M | $28.0M | $31.0M | $33.0M | $36.0M | $39.0M | $36.0M | $30.0M | $32.0M | $94.0M |
| Interest expense | $205.0M | $203.0M | $182.0M | $192.0M | $201.0M | $206.0M | $213.0M | $223.0M | $233.0M | $241.0M | $251.0M | $206.0M |
| Income before taxes | $1.29B | $1.90B | $1.07B | $1.08B | $1.13B | $1.07B | $905.0M | $898.0M | $861.0M | $964.0M | $516.0M | $682.0M |
| Income taxes | $312.0M | $465.0M | $219.0M | $250.0M | $267.0M | $255.0M | $196.0M | $227.0M | $222.0M | $181.0M | $126.0M | $123.0M |
| Net income | $958.0M | $1.41B | $840.0M | $816.0M | $851.0M | $797.0M | $698.0M | $657.0M | $632.0M | $767.0M | $373.0M | $541.0M |
| EBITDA | $1.79B | $1.64B | $1.61B | $1.66B | $1.73B | $1.66B | $1.51B | $1.51B | $1.48B | $1.59B | $1.15B | $1.20B |
| EPS (diluted) | $1.90 | $2.35 | $1.71 | $1.71 | $1.81 | $1.72 | $1.52 | $1.55 | $1.52 | $1.48 | $1.33 | $1.46 |
| Gross margin | 100.0% | 81.2% | 79.7% | 56.8% | 56.1% | 55.1% | 53.4% | 54.4% | 56.3% | 57.9% | 56.4% | 58.4% |
| Operating margin | 52.2% | 45.4% | 38.3% | 39.0% | 39.8% | 37.8% | 35.5% | 36.4% | 36.8% | 38.0% | 34.7% | 34.8% |
| Net margin | 35.9% | 38.5% | 26.8% | 27.1% | 26.1% | 24.7% | 23.0% | 21.7% | 21.8% | 27.4% | 14.0% | 22.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ICE's financial statements (latest annual report filed February 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ICE financial results
In fiscal year 2025 (ended December 31, 2025), Intercontinental Exchange reported revenue of $12.6 billion, up 7.5% from the year before. It had net income of $3.3 billion (up 20.0%), a net profit margin of 26.1%. Diluted earnings per share came to $6.95. Over five years revenue grew at an average rate of 8.9% a year.
See the ICE stock overview for the latest quote and news, or the ICE chart for price history and technical indicators.
ICE income statement FAQ
What is Intercontinental Exchange's annual revenue?
Intercontinental Exchange reported total revenue of $12.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.5% from $11.8 billion the previous year.
Is Intercontinental Exchange profitable?
Yes. Intercontinental Exchange reported net income of $3.3 billion in fiscal 2025, a net profit margin of 26.1%; its operating margin was 38.7%.
What is Intercontinental Exchange's gross margin?
Intercontinental Exchange's gross margin was 61.9% in fiscal 2025: for every $100 of revenue, Intercontinental Exchange kept $62 after the direct cost of its products and services.
How fast is Intercontinental Exchange growing?
Revenue grew 8.9% a year on average over the last five fiscal years, from $8.2 billion to $12.6 billion.
What are Intercontinental Exchange's earnings per share?
Intercontinental Exchange earned $6.95 per diluted share in fiscal 2025, compared with $6.07 a year earlier.
When will Intercontinental Exchange report its next earnings?
Intercontinental Exchange is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Intercontinental Exchange's fiscal year end?
Intercontinental Exchange's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 5, 2026.