INTERCONTINENTAL EXCHANGE IN (ICE) Stock Fundamental Analysis
NYSE:ICE - New York Stock Exchange, Inc. - US45866F1049 - Common Stock - Currency: USD
Overall ICE gets a fundamental rating of 5 out of 10. We evaluated ICE against 235 industry peers in the Capital Markets industry. There are concerns on the financial health of ICE while its profitability can be described as average. ICE is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year ICE was profitable.
ICE had a positive operating cash flow in the past year.
In the past 5 years ICE has always been profitable.
Each year in the past 5 years ICE had a positive operating cash flow.
1.2 Ratios
ICE has a Return On Assets (1.95%) which is comparable to the rest of the industry.
ICE's Return On Equity of 9.95% is in line compared to the rest of the industry. ICE outperforms 59.57% of its industry peers.
The Return On Invested Capital of ICE (7.29%) is better than 77.45% of its industry peers.
ICE had an Average Return On Invested Capital over the past 3 years of 6.58%. This is in line with the industry average of 7.84%.
The last Return On Invested Capital (7.29%) for ICE is above the 3 year average (6.58%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.95% | ||
| ROE | 9.95% | ||
| ROIC | 7.29% |
ROA(3y)1.49%
ROA(5y)1.64%
ROE(3y)8.51%
ROE(5y)10.82%
ROIC(3y)6.58%
ROIC(5y)6.59%
1.3 Margins
With a decent Profit Margin value of 22.84%, ICE is doing good in the industry, outperforming 63.83% of the companies in the same industry.
In the last couple of years the Profit Margin of ICE has declined.
ICE has a Operating Margin of 37.47%. This is in the better half of the industry: ICE outperforms 66.81% of its industry peers.
ICE's Operating Margin has declined in the last couple of years.
ICE has a better Gross Margin (77.63%) than 83.40% of its industry peers.
ICE's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.47% | ||
| PM (TTM) | 22.84% | ||
| GM | 77.63% |
OM growth 3Y-1.05%
OM growth 5Y-1.69%
PM growth 3Y-19.12%
PM growth 5Y-4.53%
GM growth 3Y0.41%
GM growth 5Y-0.14%
2. Health
2.1 Basic Checks
The number of shares outstanding for ICE remains at a similar level compared to 1 year ago.
ICE has more shares outstanding than it did 5 years ago.
ICE has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.91, we must say that ICE is in the distress zone and has some risk of bankruptcy.
ICE has a Altman-Z score of 0.91. This is comparable to the rest of the industry: ICE outperforms 48.94% of its industry peers.
The Debt to FCF ratio of ICE is 5.38, which is a neutral value as it means it would take ICE, 5.38 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.38, ICE is in the better half of the industry, outperforming 65.96% of the companies in the same industry.
ICE has a Debt/Equity ratio of 0.64. This is a neutral value indicating ICE is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.64, ICE is doing good in the industry, outperforming 65.11% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 5.38 | ||
| Altman-Z | 0.91 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 1.00 indicates that ICE may have some problems paying its short term obligations.
With a Current ratio value of 1.00, ICE perfoms like the industry average, outperforming 42.13% of the companies in the same industry.
A Quick Ratio of 1.00 indicates that ICE may have some problems paying its short term obligations.
ICE has a Quick ratio (1.00) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1 | ||
| Quick Ratio | 1 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.70% over the past year.
The Earnings Per Share has been growing by 9.42% on average over the past years. This is quite good.
Looking at the last year, ICE shows a quite strong growth in Revenue. The Revenue has grown by 19.13% in the last year.
The Revenue has been growing by 12.43% on average over the past years. This is quite good.
EPS 1Y (TTM)10.7%
EPS 3Y5.7%
EPS 5Y9.42%
EPS Q2Q%16.22%
Revenue 1Y (TTM)19.13%
Revenue growth 3Y8.66%
Revenue growth 5Y12.43%
Sales Q2Q%7.99%
3.2 Future
The Earnings Per Share is expected to grow by 12.12% on average over the next years. This is quite good.
The Revenue is expected to grow by 5.61% on average over the next years.
EPS Next Y15.23%
EPS Next 2Y12.97%
EPS Next 3Y12.23%
EPS Next 5Y12.12%
Revenue Next Year7.38%
Revenue Next 2Y6.5%
Revenue Next 3Y6.27%
Revenue Next 5Y5.61%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 28.68, which means the current valuation is very expensive for ICE.
66.81% of the companies in the same industry are cheaper than ICE, based on the Price/Earnings ratio.
ICE's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.69.
With a Price/Forward Earnings ratio of 23.36, ICE is valued on the expensive side.
Based on the Price/Forward Earnings ratio, ICE is valued a bit more expensive than the industry average as 61.28% of the companies are valued more cheaply.
ICE is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 37.36, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.68 | ||
| Fwd PE | 23.36 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ICE indicates a somewhat cheap valuation: ICE is cheaper than 74.04% of the companies listed in the same industry.
ICE's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.54 | ||
| EV/EBITDA | 20.11 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ICE does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of ICE may justify a higher PE ratio.
A more expensive valuation may be justified as ICE's earnings are expected to grow with 12.23% in the coming years.
PEG (NY)1.88
PEG (5Y)3.05
EPS Next 2Y12.97%
EPS Next 3Y12.23%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.06%, ICE has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 8.00, ICE is paying slightly less dividend.
With a Dividend Yield of 1.06, ICE pays less dividend than the S&P500 average, which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.06% |
5.2 History
The dividend of ICE is nicely growing with an annual growth rate of 10.37%!
ICE has paid a dividend for at least 10 years, which is a reliable track record.
ICE has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)10.37%
Div Incr Years12
Div Non Decr Years12
5.3 Sustainability
38.04% of the earnings are spent on dividend by ICE. This is a low number and sustainable payout ratio.
The dividend of ICE is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP38.04%
EPS Next 2Y12.97%
EPS Next 3Y12.23%
181
+0.2 (+0.11%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners92.27%
Inst Owner Change-0.28%
Ins Owners0.91%
Ins Owner Change1.59%
Market Cap103.83B
Analysts80
Price Target205.77 (13.69%)
Short Float %1.05%
Short Ratio2.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.06% |
Yearly Dividend1.81
Dividend Growth(5Y)10.37%
DP38.04%
Div Incr Years12
Div Non Decr Years12
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.45%
Min EPS beat(2)-0.05%
Max EPS beat(2)0.95%
EPS beat(4)2
Avg EPS beat(4)0.28%
Min EPS beat(4)-1.05%
Max EPS beat(4)1.26%
EPS beat(8)5
Avg EPS beat(8)1.21%
EPS beat(12)7
Avg EPS beat(12)1.09%
EPS beat(16)9
Avg EPS beat(16)1.12%
Revenue beat(2)0
Avg Revenue beat(2)-0.9%
Min Revenue beat(2)-1.32%
Max Revenue beat(2)-0.48%
Revenue beat(4)0
Avg Revenue beat(4)-0.94%
Min Revenue beat(4)-1.32%
Max Revenue beat(4)-0.48%
Revenue beat(8)0
Avg Revenue beat(8)-1.05%
Revenue beat(12)3
Avg Revenue beat(12)7.16%
Revenue beat(16)7
Avg Revenue beat(16)12.07%
PT rev (1m)3.19%
PT rev (3m)5.46%
EPS NQ rev (1m)1.02%
EPS NQ rev (3m)4.65%
EPS NY rev (1m)0.4%
EPS NY rev (3m)1.61%
Revenue NQ rev (1m)0.63%
Revenue NQ rev (3m)3.79%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)1.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 28.68 | ||
| Fwd PE | 23.36 | ||
| P/S | 8.52 | ||
| P/FCF | 27.54 | ||
| P/OCF | 22.74 | ||
| P/B | 3.71 | ||
| P/tB | N/A | ||
| EV/EBITDA | 20.11 |
EPS(TTM)6.31
EY3.49%
EPS(NY)7.75
Fwd EY4.28%
FCF(TTM)6.57
FCFY3.63%
OCF(TTM)7.96
OCFY4.4%
SpS21.25
BVpS48.77
TBVpS-32.62
PEG (NY)1.88
PEG (5Y)3.05
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.95% | ||
| ROE | 9.95% | ||
| ROCE | 9.11% | ||
| ROIC | 7.29% | ||
| ROICexc | 7.4% | ||
| ROICexgc | 118.33% | ||
| OM | 37.47% | ||
| PM (TTM) | 22.84% | ||
| GM | 77.63% | ||
| FCFM | 30.93% |
ROA(3y)1.49%
ROA(5y)1.64%
ROE(3y)8.51%
ROE(5y)10.82%
ROIC(3y)6.58%
ROIC(5y)6.59%
ROICexc(3y)6.74%
ROICexc(5y)6.73%
ROICexgc(3y)78.59%
ROICexgc(5y)69.01%
ROCE(3y)8.27%
ROCE(5y)8.38%
ROICexcg growth 3Y38.2%
ROICexcg growth 5Y9.67%
ROICexc growth 3Y0.52%
ROICexc growth 5Y-2.73%
OM growth 3Y-1.05%
OM growth 5Y-1.69%
PM growth 3Y-19.12%
PM growth 5Y-4.53%
GM growth 3Y0.41%
GM growth 5Y-0.14%
F-Score7
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 5.38 | ||
| Debt/EBITDA | 2.91 | ||
| Cap/Depr | 51.52% | ||
| Cap/Sales | 6.53% | ||
| Interest Coverage | 5.42 | ||
| Cash Conversion | 74.71% | ||
| Profit Quality | 135.42% | ||
| Current Ratio | 1 | ||
| Quick Ratio | 1 | ||
| Altman-Z | 0.91 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)45.31%
Cap/Depr(5y)47.06%
Cap/Sales(3y)5.44%
Cap/Sales(5y)5.25%
Profit Quality(3y)160.48%
Profit Quality(5y)133.11%
High Growth Momentum
Growth
EPS 1Y (TTM)10.7%
EPS 3Y5.7%
EPS 5Y9.42%
EPS Q2Q%16.22%
EPS Next Y15.23%
EPS Next 2Y12.97%
EPS Next 3Y12.23%
EPS Next 5Y12.12%
Revenue 1Y (TTM)19.13%
Revenue growth 3Y8.66%
Revenue growth 5Y12.43%
Sales Q2Q%7.99%
Revenue Next Year7.38%
Revenue Next 2Y6.5%
Revenue Next 3Y6.27%
Revenue Next 5Y5.61%
EBIT growth 1Y12.16%
EBIT growth 3Y7.51%
EBIT growth 5Y10.53%
EBIT Next Year23.59%
EBIT Next 3Y11.81%
EBIT Next 5Y8.51%
FCF growth 1Y26.21%
FCF growth 3Y13.03%
FCF growth 5Y10.38%
OCF growth 1Y32.31%
OCF growth 3Y13.85%
OCF growth 5Y11.63%