Stock fact sheet · data as of
Intercontinental Exchange, Inc. (ICE): fair value, margin of safety and Wheel Score
Financial Services · Financial - Data & Stock Exchanges · United States · Quality / Blue-Chip
Is ICE undervalued?
At 158.41 (close of 16 Oct 2026), ICE trades within a few percent of the GLS average fair value of 146.07 (8.4% above fair value). 9 models produced a value and they split 4 above the price to 5 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
There is a wide gap between DDM (30.02) and Payback Time (256.74). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files ICE under Quality / Blue-Chip: a high moat score and a high health score together.
Nine valuation models for ICE
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 148.16 | -6% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 91.75 | -42% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 224.76 | +42% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 84.59 | -47% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 176.82 | +12% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 222.51 | +40% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 256.74 | +62% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 30.02 | -81% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 79.33 | -50% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -39.40 | -125% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 183.89 | +16% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Intercontinental Exchange, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 8.4/10 puts ICE among the more durable businesses we track: over ten years the metrics the score watches (revenue, EPS, book value, margins, cash flow, ROIC) have mostly moved the right way, year after year.
Returns on capital are moderate - ROIC 6.7%, ROE 11.4%, ROA 2.4% - with debt at 0.70 times equity and a free-cash-flow yield of 5.5%.
The dividend yield is 1.29% with a payout ratio of 28% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Exchanges 67%, Fixed Income and Data Services 18%, Mortgage Technology 15% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 8/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 6.7% |
|---|---|---|---|
| GLS Moat | 8.4 / 10 | ROE | 11.4% |
| Debt / equity | 0.70 | ROA | 2.4% |
| Free-cash-flow yield | 5.5% | Payout ratio | 28% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 8 / 10 |
Wheel Score 73: Good
With a Wheel Score of 73 - the Good band - Intercontinental Exchange, Inc. clears the Sunday Scan's "70 or higher" rule. The parts: Value 9/25, Health 16/20, Moat 13/15, Premium 16/20, Stability 20/20; Value (9/25) scores lowest.
Implied volatility is 31% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (16 of 20 points). The option chain is deep: 50,053 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 4.1M shares a day on a market cap of $88.9B, with a beta of 0.94; the Stability part of the Wheel Score gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 9 / 25 | -8% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 13 / 15 | moat 8.4/10 | |
| Premium | 16 / 20 | implied volatility 31% | |
| Stability | 20 / 20 | 4.1M shares/day, $88.9B cap, beta 0.94 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Intercontinental Exchange, Inc. reports earnings on 29 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Financial - Data & Stock Exchanges
The 12 companies below are the closest to Intercontinental Exchange, Inc. by market cap within the Financial - Data & Stock Exchanges industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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|---|---|---|---|---|---|
| MCO Moody's Corporation | 483.69 | 357.14 | -35% | 64Fair | $83.8B |
| CME CME Group Inc. | 289.46 | 216.97 | -33% | 56Fair | $104.1B |
| SPGI S&P Global Inc. | 408.57 | 302.68 | -35% | 61Fair | $120.4B |
| NDAQ Nasdaq, Inc. | 93.50 | 56.98 | -64% | 65Good | $52.3B |
| COIN Coinbase Global, Inc. | 183.81 | 101.69 | -81% | 43Weak | $48.5B |
| MSCI MSCI Inc. | 575.09 | 388.19 | -48% | 66Good | $41.8B |
| CBOE Cboe Global Markets, Inc. | 308.09 | 211.67 | -46% | 62Fair | $32.2B |
| TRU TransUnion | 66.94 | 86.04 | +22% | 86Prime | $12.8B |
| FDS FactSet Research Systems Inc. | 301.83 | 280.79 | -7% | 75Good | $10.7B |
| MORN Morningstar, Inc. | 209.24 | 276.68 | +24% | 82Prime | $7.8B |
| OTCM OTC Markets Group Inc. | 53.00 | 50.57 | -5% | 39No options | $635M |
| VALU Value Line, Inc. | 43.29 | 25.36 | -71% | 27No options | $406M |
⚖ Compare ICE with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about ICE
Is ICE undervalued right now?
Not meaningfully: at 158.41 the stock trades within a few percent of the GLS average fair value of 146.07 (8.4% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of ICE and what does it mean?
ICE scores 73 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for ICE?
146.07 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Intercontinental Exchange, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (before the open), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does ICE have listed options, and how liquid are they?
Yes. The nightly snapshot found 1,000 listed contracts with 50,053 open interest across all expiries and implied volatility of 31% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.