What is the 13F Pro Quality Score for ICE?

13F Pro ranks Intercontinental Exchange, Inc. (ICE) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ICE's current score at https://13fpro.ai/research/ICE (free sign-up required for the full ranking).

Which hedge funds own the most ICE stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of ICE include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/ICE as soon as new 13F filings post.

Where does 13F Pro source ICE data?

All Intercontinental Exchange, Inc. fundamentals and ownership data come directly from SEC EDGAR. Intercontinental Exchange, Inc. files with the SEC under CIK 1571949. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ICE in?

Intercontinental Exchange, Inc. (ICE) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives ICE's revenue?

Per Intercontinental Exchange, Inc.'s latest 10-Q filed with the SEC on 2026-04-30, the biggest revenue drivers are: Exchanges ($2.470B, +16% YoY); Fixed Income and Data Services ($657M, +10% YoY); Mortgage Technology ($539M, +6% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/ICE.

What are ICE's largest expenses?

Intercontinental Exchange, Inc.'s latest 10-Q reports these as the largest expense items: Compensation and benefits ($505M, +5% YoY); Depreciation and amortization ($384M, -1% YoY); Technology and communication ($238M, +12% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is ICE research updated on 13F Pro?

ICE's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Intercontinental Exchange, Inc.(ICE)Stock Analysis

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13F Pro Quality Score

73.8/100

Rank #184 of 2,879 stocksTOP 10%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

74.0/100

Profitability

91.9/100

Balance Sheet

56.9/100

Earnings Quality

66.6/100

Free Cash Flow

87.9/100

Institutional Flow

2.9/100

Revenue Scale

89.1/100

Dilution Risk

42.2/100

ICE Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Intercontinental Exchange, Inc. (ICE), a Financials sector company. 13F Pro's AI-powered ranking engine scores ICE at 73.8/100 on a 32-signal composite quality model, placing it at rank #184 of 2,879 stocks — the top 10% of the AI-ranked universe. ICE scores in the top quartile across profitability (91.9), revenue scale (89.1), free cash flow (87.9). Areas of concern include institutional flow (2.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 42.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Intercontinental Exchange, Inc. reports quarterly revenue of $3.7B, net income of $1.4B, an operating margin of 45.4%. Top institutional holders of ICE by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. ICE trades on the NYSE exchange and files with the SEC under CIK 1571949. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ICE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Intercontinental Exchange, Inc. directly from SEC EDGAR. Intercontinental Exchange, Inc.'s 13F Pro composite quality score has ranged between 8 and 77 since 2021, currently 73.8 — a stable long-term trajectory across 56 quarterly and live scoring snapshots.

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Fun facts about Intercontinental Exchange, Inc.

Quirks, history, and lore behind ICE — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial infrastructure company · large-cap · listed on the NYSE · headquartered in Atlanta, Georgia.
2
The Numbers
Annual revenue around $7–8 billion, spread across exchanges, clearing houses, and data services — it makes money whether markets go up, down, or sideways.
3
The History
Founded in 2000 as an electronic energy trading platform, it pivoted hard into financial exchanges and spent the next two decades on a global acquisition spree.
4
The Secret
It owns and operates mortgage technology infrastructure through its Encompass platform, making it a quiet giant in the U.S. home-loan pipeline — not just Wall Street.
5
The Lore
In 2013 it pulled off one of finance's great reversals: a scrappy upstart founded 13 years earlier bought the New York Stock Exchange, the world's oldest and most storied exchange.
6
The Giveaway
It runs the NYSE, operates 13+ exchanges globally, and its three-letter ticker is hiding in plain sight — it's literally frozen water.

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What's Driving ICE's Business? Latest 10-Q Breakdown

✓ 29/29 datapoints verified

AI-extracted from Intercontinental Exchange, Inc.'s 10-Q filed 2026-04-30 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

ICE delivered 77% net income growth to $1.4B on 20% revenue increase, driven by energy and interest rate volatility boosting futures trading and a $389M fair value gain on Polymarket investment.

Biggest Revenue Drivers

Total revenue: $3.666B+13% YoY

Exchanges$2.470B+16% YoY

Futures trading surged 45% in total volume; energy futures +32%, financial futures +65% driven by geopolitical conflict and supply disruptions; cash equities volumes +39%.

Fixed Income and Data Services$657M+10% YoY

CDS clearing volumes grew 41% to $9.9T notional; data and analytics +8%; data and network technology +12%.

Mortgage Technology$539M+6% YoY

Origination technology +10%; closing solutions +20% on higher loan volumes; offset by modest growth in servicing from customer merger activity.

Largest Expense Items

Compensation and benefits$505M+5% YoY

Higher bonus accrual and PSU adjustments from strong financial performance; partially offset by lower headcount and higher capitalized labor.

Depreciation and amortization$384M-1% YoY

Intangible asset amortization $237M declined as certain 2015 and 2020 acquisition intangibles became fully amortized; fixed asset depreciation increased.

Technology and communication$238M+12% YoY

Data center space expansion, higher hardware/software maintenance costs, and increased revenue share licensing expenses.

Acquisition-related transaction and integration costs$41M+28% YoY

Primarily Black Knight integration costs.

Margins: Operating margin expanded 7 percentage points to 56%, with adjusted operating margin at 65% (+4pts), reflecting strong operating leverage from higher transaction revenues and cost discipline. Mortgage Technology turned near-breakeven with improved loss management.

Watch Items from the Filing

Mortgage Technology segment operating loss of $13M; higher rates continue suppressing origination demand despite modest 6% revenue growth. Further rate increases could pressure segment profitability.
$1.6B Polymarket investment ($1.0B in October 2025, $600M in March 2026) recognized $389M fair value gain; investment accounts for 23% of outstanding and 14% of fully diluted shares but is pre-IPO stage with significant execution risk.
EMIR 3.0 and Pillar Two regulatory changes pose headwinds: euro-denominated short-rate derivatives clearing mandate may reduce volumes at ICE Clear Europe; U.S. tax guidance exempts parent companies but multi-jurisdictional exposure remains.
Strong cash generation: operating cash flow $1.3B (+37% YoY), free cash flow $1.15B. Repurchased $551M shares (3.5M) and paid $297M dividends in Q1; $2.5B remaining authorization.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$3.7B

Net Income

Q1 2026

$1.4B

Free Cash Flow

Q1 2026

$1.3B

Operating Margin

Q1 2026

45.4%

ROIC

Q1 2026

3.5%

D/E Ratio

Q1 2026

0.69

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+27.6% YoY

$12.64BFY 2025

FY21 $9.17BFY22 $9.64BFY23 $9.90BFY25 $12.64B

Net Income

+40.0% YoY

$3.31BFY 2025

FY21 $4.06BFY22 $1.45BFY23 $2.37BFY25 $3.31B

Operating Income

+33.4% YoY

$4.93BFY 2025

FY21 $3.45BFY22 $3.64BFY23 $3.69BFY25 $4.93B

EPS (Diluted)

+37.7% YoY

$5.77FY 2025

FY21 $7.18FY22 $2.58FY23 $4.19FY25 $5.77

Total Assets

+0.6% YoY

$136.89BFY 2025

FY21 $193.50BFY22 $194.34BFY23 $136.08BFY25 $136.89B

Total Debt

-13.1% YoY

$19.64BFY 2025

FY21 $13.92BFY22 $18.12BFY23 $22.61BFY25 $19.64B

Op. Cash Flow

+31.6% YoY

$4.66BFY 2025

FY21 $3.12BFY22 $3.55BFY23 $3.54BFY25 $4.66B

Metric	FY 2025	FY 2023	FY 2022	FY 2021	FY 2020	FY 2017
Revenue	$12.64B +27.6%	$9.90B +2.8%	$9.64B +5.1%	$9.17B +11.2%	$8.24B +41.1%	$5.84B
Net Income	$3.31B +40.0%	$2.37B +63.8%	$1.45B -64.4%	$4.06B +94.3%	$2.09B -17.3%	$2.53B
Operating Income	$4.93B +33.4%	$3.69B +1.5%	$3.64B +5.5%	$3.45B +13.7%	$3.03B +27.5%	$2.38B
EPS (Diluted)	$5.77 +37.7%	$4.19 +62.4%	$2.58 -64.1%	$7.18 +90.5%	$3.77 -11.3%	$4.25
Total Assets	$136.89B +0.6%	$136.08B -30.0%	$194.34B +0.4%	$193.50B +53.3%	$126.20B +61.2%	$78.26B
Total Debt	$19.64B -13.1%	$22.61B +24.8%	$18.12B +30.2%	$13.92B -15.8%	$16.54B +69.3%	$9.77B
Operating Cash Flow	$4.66B +31.6%	$3.54B -0.3%	$3.55B +13.8%	$3.12B +8.4%	$2.88B +38.2%	$2.08B

AI Insight: ICE Financial Trends

Q1 2026 revenue surged 12.4% YoY to $3.67B, driving net income to $1.41B—highest in the dataset—while debt declined 6.6% from peak.

• Revenue grew from $3.23B in Q1 2025 to $3.67B in Q1 2026, a 12.4% YoY increase. Net income nearly doubled to $1.41B.

• Operating margin expanded to 45.4% in Q1 2026 from 37.8% in Q1 2025, gaining 760 basis points year-over-year.

• Total debt fell 6.6% from Q2 2025 peak ($21.2B) to $20.4B in Q1 2026, while equity grew 4.5% to $29.5B.

⚠ Operating cash flow remains volatile, ranging $898M–$1.5B across quarters. Q1 2026 at $1.33B shows recovery but trend lacks consistency.

AI Insight: ICE Ratio Trends

ICE delivered explosive profitability expansion in Q1 2026, with operating margin jumping to 45.4% and NPM surging to 38.5%, driven by material ROIC improvement to 13.4%.

• Operating margin expanded 5.6pp from Q4 2025 (39.4%) to Q1 2026 (45.4%); NPM increased 11.4pp to 38.5%.

• ROIC climbed from 9.0% in Q4 2024 to 13.4% in Q1 2026, a sustained 4.4pp structural improvement.

• Debt-to-equity declined from 0.82 in Q2 2024 to 0.69 in TTM and Q1 2026, strengthening balance sheet.

⚠ Q1 2026 results include potential seasonality or one-offs; TTM NPM of 30.1% suggests Q1 margin may not sustain.

⚠ ROE spiked to 19.2% in Q1 2026 versus 11.8% in Q4 2025—verify this reflects operational gains, not leverage.

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Available Research

13F Pro tracks comprehensive data for Intercontinental Exchange, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ICE

BlackRock, Inc.
$8.3B52,896,116 sh
VANGUARD CAPITAL MANAGEMENT LLC
$5.8B36,911,379 sh
STATE STREET CORP
$4.0B25,551,190 sh
HARRIS ASSOCIATES L P
$2.6B16,342,258 sh
MORGAN STANLEY
$2.3B14,487,713 sh
GEODE CAPITAL MANAGEMENT, LLC
$2.0B12,774,120 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.9B11,814,869 sh
WELLINGTON MANAGEMENT GROUP LLP
$1.6B10,177,888 sh
ROYAL BANK OF CANADA
$1.3B8,290,395 sh
NORTHERN TRUST CORP
$1.1B6,932,110 sh

Fund	Value	Shares
BlackRock, Inc.	$8.3B	52,896,116
VANGUARD CAPITAL MANAGEMENT LLC	$5.8B	36,911,379
STATE STREET CORP	$4.0B	25,551,190
HARRIS ASSOCIATES L P	$2.6B	16,342,258
MORGAN STANLEY	$2.3B	14,487,713
GEODE CAPITAL MANAGEMENT, LLC	$2.0B	12,774,120
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.9B	11,814,869
WELLINGTON MANAGEMENT GROUP LLP	$1.6B	10,177,888
ROYAL BANK OF CANADA	$1.3B	8,290,395
NORTHERN TRUST CORP	$1.1B	6,932,110

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Is ICE a good stock to buy?

13F Pro's AI-powered analysis of Intercontinental Exchange, Inc. (ICE) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ICE are available on the ICE stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own ICE?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ICE. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Intercontinental Exchange, Inc.'s investment landscape.