CME Group vs Intercontinental Exchange CME vs ICE
CME Group and Intercontinental Exchange on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
CMEICE
What differs most
- Debt / equity: Intercontinental Exchange 0.7×, CME Group 0.1×.
- Price / sales: CME Group 15.9×, Intercontinental Exchange 7.2×.
- Net margin: CME Group 63.1%, Intercontinental Exchange 32.3%.
- Consensus revenue growth for next year: CME Group +8.6%, Intercontinental Exchange −12.1%.
Price return
2025-10-26 → 2026-10-26
CME+14.3%
ICE+1.5%
Profile
latestSector
Financial Services
Financial Services
Industry
Financial - Data & Stock Exchanges
Financial - Data & Stock Exchanges
Market value
$110.77B
$89.85B
Enterprise value
$112.00B
$109.31B
Employees
3,875
12,725
Revenue per employee (TTM)
$1.8M
$981K
Our models
nightlythe valuation on each stock's pagePrice vs model
27% overvalued vs model
71% overvalued vs model
Model range
$153–684
$51.31–261
Models in the headline
1
1
FCF growth priced in, at a 10% return
14.4%
13.4%
Every model, its assumptions and its range: CME valuation · ICE valuation. The growth priced in, at any return: CME reverse DCF · ICE reverse DCF.
Trading
close 2026-10-26Last close
$308.06
$160.05
52-week high
$326.46
$175.10
52-week low
$218.58
$122.91
Price vs 52-week high
−5.6%
−8.6%
Price vs 52-week low
+40.9%
+30.2%
Average daily volume / shares
0.7%
0.7%
Beta
0.27
0.94
Returns
to 2026-10-261 month
+16.5%
+3.7%
3 months
+20.7%
+9.8%
6 months
+8.1%
+1.0%
Year to date
+12.8%
−1.2%
1 year
+14.3%
+1.5%
1 year, dividends added
+18.5%
+2.8%
2 years
+36.2%
−3.2%
Valuation
CME price × TTM to Sep 2026 · ICE price × TTM to Jun 2026P/E (TTM)
25.3×
22.6×
P/E on consensus EPS (next FY)
24.9×
19.5×
Price / sales
15.9×
7.2×
EV / sales
16.1×
8.8×
EV / EBITDA
16.9×
16.4×
Price / book
4.2×
3.0×
Price / free cash flow (FY)
26.4×
20.9×
Free-cash-flow yield (FY)
3.8%
4.8%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+8.6%
−12.1%
Revenue, 3-year CAGR
9.1%
9.5%
Revenue, 5-year CAGR
6.0%
8.9%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+10.9%
+41.9%
EPS, 3-year CAGR
14.7%
30.8%
Free cash flow, 3-year CAGR
12.2%
11.8%
Diluted shares, 3-year change
+0.3%
+1.8%
Profitability
CME TTM to Sep 2026 · ICE TTM to Jun 2026Gross margin (FY)†
86.1%
61.9%
Operating margin
65.7%
43.5%
EBITDA margin
95.1%
53.6%
Net margin
63.1%
32.3%
Free-cash-flow margin (FY)
64.3%
33.9%
Return on equity
16.6%
13.6%
Return on assets
2.3%
2.3%
Asset turnover
0.04
0.07
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
CME MRQ Sep 2026 · ICE MRQ Jun 2026Cash
$2.20B
$1.07B
Total debt
$3.43B
$20.53B
Net debt
$1.23B
$19.46B
Debt / equity
0.1×
0.7×
Net debt / EBITDA (TTM)
0.2×
2.9×
Interest coverage (FY)
32.6×
6.3×
Current ratio (FY)
92.97
1.02
Dividends
trailing 12 monthsDividend yield
3.7%
1.3%
Dividends per share
$11.30
$2.04
Payout ratio (of TTM EPS)
92.7%
28.8%
Dividend per share, 5-year CAGR
13.3%
9.6%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
8
8
Insider open-market buys (Form 4)
$79K
$0
Insider sales (Form 4)
$121K
$6.5M
Analyst upgrades
1
0
Analyst downgrades
1
1
Statements
CME income TTM to Sep 2026 · cash flow FY2025 · ICE income TTM to Jun 2026 · cash flow FY2025Revenue
$6.97B
$12.48B
EBITDA
$6.63B
$6.68B
Operating income
$4.58B
$5.43B
Net income
$4.40B
$4.03B
EPS (diluted)
$12.19
$7.08
Operating cash flow
$4.28B
$4.66B
Capital expenditure
−$83.5M
−$373.0M
Free cash flow
$4.19B
$4.29B
Dividends paid
$3.93B
$1.10B
Keep comparing
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.