Intercontinental Exchange, Inc（ICE）の決算・業績分析
Intercontinental Exchange, Incの2025年有価証券報告書をAI分析。売上高$12.6B(+7.5%)。営業利益$4.9B。Financials。
目次
Intercontinental Exchange, Incの2025年度 業績サマリー
Intercontinental Exchange, Inc（証券コード: ICE）の2025年度決算・業績分析。売上高は$12.6B（前年比+7.5%）。営業利益は$4.9B（前年比+14.4%）。純利益は$3.3B（前年比+20.4%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Intercontinental Exchange, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 5.1% YoY to $9.6B (XBRL), driven by increased trading in interest rate/equity futures and credit default swaps (10-K).
- Net income fell 64.4% YoY to $1.4B (XBRL), primarily due to lower Mortgage Technology revenues and higher debt interest costs (10-K).
- Net debt stood at $18.9B (4.0x EBITDA) (XBRL), reflecting high leverage despite strong operating cash flow of $3.6B (XBRL).
- Shareholder returns totaled $1.5B (XBRL), with $853M in dividends and $632M in share repurchases.
Intercontinental Exchange, Incの売上高変化の要因
- •Total revenue reached $9.6B (+5.1% YoY) (XBRL), with the Exchanges segment contributing $5.0B (53% of total). Growth was driven by increased trading in interest rate/equity futures, credit default swaps, and bonds (10-K). However, Mortgage Technology revenues declined due to high mortgage rates (10-K). Historical time series shows revenue growth from $6.3B (2020) to $9.6B (2024), with a projected $9.9B in 2025 (XBRL). Segment-specific revenue figures are not explicitly disclosed (XBRL).
Intercontinental Exchange, Incの営業利益変化の要因
- •Operating income rose 5.5% YoY to $3.6B (XBRL), with an operating margin of 37.8%. Net margin was 15.0%, but net income fell 64.4% YoY to $1.4B (XBRL), driven by lower Mortgage Technology revenues and higher interest expenses (10-K). EBITDA was $4.7B (48.5% of revenue) (XBRL). ROE was 5.6%, ROA 1.1%, and ROIC 4.0% (XBRL).
Intercontinental Exchange, Incの事業リスクと対応
High mortgage rates reduced Mortgage Technology revenues (10-K).
Global economic uncertainty and rising debt interest costs (10-K).
Lower-than-expected performance in the Mortgage Technology segment (10-K).
Potential impacts from interest rate fluctuations, inflation, and geopolitical events (10-K).
High leverage (D/E 4.29x) and net debt (4.0x EBITDA) (XBRL).
Intercontinental Exchange, Incの今後の見通し・業績予想
Intercontinental Exchange, Incの事業内容
Intercontinental Exchange (ICE) operates as a technology and data solutions provider for financial institutions, corporations, and government entities, spanning asset classes like futures, equities, fixed income, and mortgages (10-K). Revenue is generated through transaction-based fees and recurring data/listings revenues. Key segments include: 1) **Exchanges** (53% of 2024 revenue, $5.0B), operating regulated marketplaces for derivatives, equities, and securities; 2) **Fixed Income and Data Services**, offering pricing, reference data, and CDS clearing; and 3) **Mortgage Technology**, providing digital workflow tools for U.S. residential mortgages (10-K). No significant customer concentration is noted (10-K). Competitive landscape details are not disclosed (10-K).
Intercontinental Exchange, IncのAI業績分析レポート（2024年度）
Intercontinental Exchange, Inc. (ICE) FY2024 Annual Report Analysis
Highlights
Business Overview
ICE provides technology and data solutions to financial institutions, corporations, and government entities, spanning asset classes like futures, equities, fixed income, and mortgages (10-K). Revenue is generated through transaction-based fees and recurring data/listings revenues. Key segments include: 1) Exchanges (53% of 2024 revenue, $5.0B), operating regulated marketplaces for derivatives, equities, and securities; 2) Fixed Income and Data Services, offering pricing, reference data, and CDS clearing; and 3) Mortgage Technology, providing digital workflow tools for U.S. residential mortgages (10-K). No significant customer concentration is noted (10-K). Competitive landscape details are not disclosed (10-K).
Revenue Analysis
Total revenue reached $9.6B (+5.1% YoY) (XBRL), with the Exchanges segment contributing $5.0B (53% of total). Growth was driven by increased trading in interest rate/equity futures, credit default swaps, and bonds (10-K). However, Mortgage Technology revenues declined due to high mortgage rates (10-K). Historical time series shows revenue growth from $6.3B (2020) to $9.6B (2024), with a projected $9.9B in 2025 (XBRL). Segment-specific revenue figures are not explicitly disclosed (XBRL).
Profitability Analysis
Operating income rose 5.5% YoY to $3.6B (XBRL), with an operating margin of 37.8%. Net margin was 15.0%, but net income fell 64.4% YoY to $1.4B (XBRL), driven by lower Mortgage Technology revenues and higher interest expenses (10-K). EBITDA was $4.7B (48.5% of revenue) (XBRL). ROE was 5.6%, ROA 1.1%, and ROIC 4.0% (XBRL).
Balance Sheet Analysis
Total assets declined to $136.1B in 2024 (XBRL), down from $193.5B in 2022. Long-term debt was $20.7B (XBRL), with net debt at $18.9B (4.0x EBITDA) (XBRL). Equity ratio was 18.9% (XBRL), and current ratio was 1.00x (XBRL). Cash reserves stood at $1.8B (XBRL).
Cash Flow Analysis
Operating cash flow was $3.6B (XBRL), with free cash flow (FCF) of $3.3B (XBRL) after $225M in CapEx (XBRL). Investing cash flow was $677M (XBRL), while financing cash flow was -$1.8B (XBRL), reflecting $853M in dividends and $632M in share repurchases (XBRL).
Working Capital Analysis
Receivables Days: 52 days (XBRL). Asset Turnover: 0.07x (XBRL). No data available for inventory or payables days (N/A).
Risks
Outlook
Management expects a dynamic macroeconomic environment with ongoing risks from interest rates, inflation, and geopolitical events (10-K). Key trends include high mortgage rates, global economic uncertainty, and rising debt interest costs (10-K).
Financialsの企業一覧
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