How does Intercontinental Exchange (ICE) make money?

Intercontinental Exchange (ICE) generates revenue primarily from Fixed Income And Data Services Segment, which accounted for 51% of total revenue in TTM through Q1 2026. The company reported $13.1B in revenue and converted 30% of it into net profit, equivalent to roughly $3.92B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Intercontinental Exchange (ICE)?

Intercontinental Exchange (ICE) reported a gross profit margin of 69% in TTM through Q1 2026, equivalent to $9.02B in gross profit on $13.1B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Intercontinental Exchange (ICE)?

Intercontinental Exchange (ICE) reported an operating profit margin of 40.8% in TTM through Q1 2026, equivalent to $5.34B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Intercontinental Exchange (ICE)?

Intercontinental Exchange (ICE) reported a net profit margin of 30% in TTM through Q1 2026, equivalent to $3.92B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Intercontinental Exchange (ICE) profitable?

Yes. Intercontinental Exchange (ICE) reported $3.92B in net income for TTM through Q1 2026, with a net profit margin of 30%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Intercontinental Exchange (ICE) spend on capital expenditures?

Intercontinental Exchange (ICE) spent $464M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 3.5% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Intercontinental Exchange (ICE) generate?

Intercontinental Exchange (ICE) generated $4.56B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 34.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Intercontinental Exchange (ICE)?

Intercontinental Exchange (ICE) had an effective tax rate of 23.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Intercontinental Exchange (ICE)?

Intercontinental Exchange (ICE) reports revenue across 3 reportable product segments, led by Fixed Income And Data Services Segment at 51% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Intercontinental Exchange Makes Money: 2026 Visual Revenue Map

Intercontinental Exchange (ICE) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Intercontinental Exchange discloses geographic revenue only in annual filings. to view the full breakdown.

Intercontinental Exchange (ICE) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Intercontinental Exchange (ICE), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Fixed Income And Data Services Segment	$6.67B	51%
Exchanges Segment	$5.09B	38.9%
Mortgage Technology Segment	$1.31B	10%
Total	$13.1B	100%

Fixed Income And Data Services Segment$6.67B
Exchanges Segment$5.09B
Mortgage Technology Segment$1.31B
Total$13.1B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Intercontinental Exchange (ICE) reports revenue across 3 reportable product segments; the largest segment was Fixed Income And Data Services Segment at 51%, followed by Exchanges Segment (38.9%) and Mortgage Technology Segment (10%).

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