Filing Flows › Intercontinental Exchange (ICE) › Q1 2026
Intercontinental Exchange (ICE) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Intercontinental Exchange (ICE) reported revenue of $3.7B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +17% from the quarter before. Operating margin was 45.4%, net earnings $1.4B (38.5% of revenue).
Intercontinental Exchange, Q1 2026: revenue $3.7B (+14% year over year), operating margin 45.4%, net earnings $1.4B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +17% | +14% |
| Operating profit | $1.7B | +35% | +36% |
| Net earnings | $1.4B | +66% | +77% |
| Operating cash flow | $1.3B | +4% | +37% |
| Free cash flow | $1.1B | — | +48% |
What changed
Revenue was $3.7B in Q1 2026, up 14% year over year and up 17% from the previous quarter. Energy futures and options was the largest line at 22% of revenue. Energy futures and options added $0.26B year over year (up 46%), 59% of the total change. Cash equities and equity options declined 7%.
Operating profit was $1.7B, a 45.4% margin (up 7.6 points year over year). Of the extra revenue versus Q1 2025, 102% reached operating profit, above the 38% margin then. Total costs fell 0% while revenue rose 14%. The fastest-growing cost line was SG&A (+12%). Net earnings were $1.4B, up 77% year over year. The effective tax rate was 24.5%.
Operating cash flow was $1.3B (up 37% year over year), 93% of net earnings. Non-cash charges added back $0.38B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.57B. After capitalized software development costs ($0.11B) and capital expenditures ($0.06B), free cash flow as the company reports it was $1.1B.
Questions
What was Intercontinental Exchange's revenue in the first quarter 2026?
Intercontinental Exchange (ICE) reported revenue of $3.7B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +17% from the quarter before.
Was Intercontinental Exchange profitable in the first quarter 2026?
Operating profit was $1.7B (45.4% of revenue) and net earnings $1.4B.