ICE
Intercontinental Exchange Inc
NYSE: ICE · FINANCIAL SERVICES · FINANCIAL DATA & STOCK EXCHANGES
$140.53
+1.12% today
Updated 2026-06-12
Market cap
$80.52B
P/E ratio
20.69
P/S ratio
7.72x
EPS (TTM)
$6.88
Dividend yield
1.35%
52W range
$137 – $188
Volume
3.5M
Intercontinental Exchange Inc (ICE) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed ICE price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$140.53
Today
Analyst consensus
$200.67
+42.80% · 12M
2030 Base
$91.30
-35.03% future
NPV today
$59.33
@ 10% WACC
16 analysts:
10 Buy1 Hold0 Sell
Management guidance
ICE management has not provided explicit revenue guidance through 2030 in recent earnings calls or investor presentations. However, the company emphasized record Q1 2026 results and strategic focus on technology, data, and AI-driven products (including GPU compute futures launched with Ornn). Historical context: management targets long-term revenue growth in the mid-to-high single digits, with accelerating contributions from data services and technology platforms.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
ICE · Intercontinental Exchange Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$58.30
NPV today: $37.89
Base case (2030)
$91.30
NPV today: $59.33
Bull case (2030)
$223.28
NPV today: $145.10
WallStSmart.com
ICE financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $12.6B | $11.6B | $13.2B | $15.2B | $17.1B | $18.9B |
| Revenue growth | 7.5% | 11.3% | 14.4% | 14.6% | 12.5% | 10.4% |
| Net margin | — | 40.9% | 41.7% | 43.1% | 43.8% | 44.4% |
| EPS | $6.95 | $8.35 | $9.72 | $11.48 | $13.10 | $14.65 |
| Diluted shares | — | 567M | 568M | 569M | 571M | 572M |
| Net debt | — | $14.79B | $12.65B | $10.20B | $7.44B | $4.39B |
| P/S multiple | — | 3.0x | 3.0x | 3.0x | 3.0x | 3.0x |
| Implied price (base) | — | $35.17 | $47.65 | $62.05 | $76.78 | $91.30 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $18.9B | $18.9B | $18.9B |
| P/S multiple | 2.0x | 3.0x | 7.0x |
| Diluted shares | 572M | 572M | 572M |
| Net debt | $4.39B | $4.39B | $4.39B |
| Implied P/E † | 4x | 6x | 15x |
| 2030 Price | $58.30 | $91.30 | $223.28 |
| NPV @ 10% | $37.89 | $59.33 | $145.10 |
† Implied P/E: Multiples remain elevated across all three scenarios because ICE is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $91.30 base case
ICE catalysts and risks
Growth catalysts
+ GPU compute futures expansion (Ornn partnership) driving new revenue stream in AI infrastructure
+ Hyperscaler capex acceleration (Meta, Microsoft, AI buildout) increasing trading volumes and data licensing demand
+ Digital assets & decentralized finance regulation normalization, strengthening ICE's competitive moat vs. offshore platforms
+ Data services and analytics revenue growth outpacing core trading (higher margins, stickier customers)
+ M&A optionality: potential acquisition of fintech/data assets to accelerate non-trading revenue
Key risks
- Regulatory pressure on derivatives markets and position limits could constrain trading volumes and fee growth
- Competition from CME Group and decentralized exchanges (Hyperliquid) eroding market share in commodities and crypto derivatives
- Macroeconomic slowdown reducing capital markets activity and IPO volumes (NYSE IPO revenue component)
- Integration execution risk if company pursues large M&A to diversify revenue mix
- Rising operational costs (salaries, compliance, technology) compressing margin expansion despite revenue growth
Methodology · Intercontinental Exchange Inc 2030 stock forecast model
Intercontinental Exchange Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 16 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for ICE by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($4.39B by 2030) |
| 3. Time value | NPV calculated using 10% WACC (CAPM: beta 0.964) |
| 4. Multiple framework | P/S compresses with scale: bear 2.0x / base 3.0x / bull 7.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
ICE price target FAQ
What is the ICE price target for 2030?
WallStSmart's Intercontinental Exchange Inc 2030 base case is $91.30 per share, with a bull case of $223.28 and bear case of $58.30. The NPV of the base case discounted to today at 10% WACC is $59.33.
How is the Intercontinental Exchange Inc 2030 stock forecast calculated?
The ICE 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the ICE price target account for dilution?
Intercontinental Exchange Inc is projected to grow diluted share count from 566M to 572M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on ICE stock?
16 analysts cover ICE with an average 12-month price target of $200.67. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.