Intercontinental Exchange, Inc. (ICE) closed fiscal year 2025 with a gross margin of 56.2 % and a net margin of 26.2 %.
Intercontinental Exchange, Inc. (ICE) closed fiscal year 2025 with a gross margin of 56.2 % and a net margin of 26.2 %. The same year shows an EBITDA margin of 51.3 % and an EBIT margin of 39.0 %. The free cash flow margin was 33.9 %. Against the previous year the gross margin moved +0.7 pp and the net margin +2.8 pp. Across the period the gross margin ranges between 54.0 % in 2022 and 57.1 % in 2023. The series covers 15 fiscal years, from 2011 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | 53.99 % | 57.14 % | 55.45 % | 56.16 % |
| EBITDA margin (%) | 69.71 % | 70.29 % | 54.68 % | 40.92 % | 45.37 % | 46.59 % | 49.87 % | 50.49 % | 50.94 % | 45.90 % | 48.63 % | 48.45 % | 49.57 % | 49.71 % | 51.34 % |
| EBIT margin (%) | 59.76 % | 60.67 % | 45.66 % | 33.27 % | 37.38 % | 36.38 % | 40.72 % | 41.16 % | 40.83 % | 36.79 % | 37.62 % | 37.75 % | 37.30 % | 36.64 % | 39.00 % |
| Net margin (%) | 38.43 % | 40.50 % | 14.68 % | 22.54 % | 27.21 % | 23.95 % | 43.23 % | 31.68 % | 29.52 % | 25.34 % | 44.26 % | 15.01 % | 23.91 % | 23.42 % | 26.23 % |
| FCF margin (%) | 49.43 % | 51.43 % | 34.74 % | 30.84 % | 23.94 % | 31.80 % | 31.92 % | 38.22 % | 38.28 % | 32.44 % | 32.11 % | 34.55 % | 33.85 % | 35.74 % | 33.93 % |
