Filing Flows › Intercontinental Exchange (ICE) › Q2 2026 › vs Q2 2025
Intercontinental Exchange (ICE) Q2 2026 vs Q2 2025 (year over year)
Intercontinental Exchange's revenue rose $349M (+11%) from $3.3B in Q2 2025 to $3.6B in Q2 2026. The biggest changes: Exchanges +$259M (+12%); Mortgage technology +$26.0M (+5%); Data and network technology +$21.0M (+12%). Operating margin 38.5% against 39.8% (-1.2 pts).
Intercontinental Exchange, Q2 2026: revenue $3.6B (+11% year over year), operating margin 38.5%, net earnings $958M, operating cash flow $2.0B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 38.5% | 39.8% | -1.2 pts |
| Net margin | 26.5% | 26.1% | +0.4 pts |
| Free cash flow margin | 51.3% | 44.3% | +7.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Cash equities and equity options | $1.1B | $842M | $243M | +29% |
| Energy futures and options | $518M | $595M | −$77.0M | -13% |
| Fixed income data and analytics | $333M | $306M | $27.0M | +9% |
| Data and connectivity services | $287M | $255M | $32.0M | +13% |
| Financial futures and options | $192M | $158M | $34.0M | +22% |
| Exchanges | $2.4B | $2.2B | $259M | +12% |
| Mortgage technology | $557M | $531M | $26.0M | +5% |
| Data and network technology | $198M | $177M | $21.0M | +12% |
| Origination technology | $197M | $187M | $10.0M | +5% |
| Listings | $129M | $123M | $6.0M | +5% |
| OTC and other | $111M | $96.0M | $15.0M | +16% |
| Revenue | $3.6B | $3.3B | $349M | +11% |
| Operating profit | $1.4B | $1.3B | $94.0M | +7% |
| Costs & expenses | $2.2B | $2.0B | $255M | +13% |
| Pre-tax earnings | $1.3B | $1.1B | $155M | +14% |
| Other expense, net | $104M | $165M | −$61.0M | -37% |
| SG&A | $63.0M | $66.0M | −$3.0M | -5% |
| Other operating costs | $2.2B | $1.9B | $258M | +14% |
| Net earnings | $958M | $851M | $107M | +13% |
| Minority interests | $17.0M | $14.0M | $3.0M | +21% |
| Income tax | $312M | $267M | $45.0M | +17% |
| Depreciation & amortization | $389M | $395M | −$6.0M | -2% |
| Share-based compensation | $67.0M | $58.0M | $9.0M | +16% |
| Working capital & other | $584M | $202M | $382M | +189% |
| Operating cash flow | $2.0B | $1.5B | $492M | +33% |
| Free cash flow (OCF − capex) | $1.9B | $1.4B | $408M | +28% |
| Capital expenditures | $144M | $60.0M | $84.0M | +140% |
Questions
How much did Intercontinental Exchange's revenue grow year over year in Q2 2026?
Intercontinental Exchange's revenue rose $349M (+11%) from $3.3B in Q2 2025 to $3.6B in Q2 2026.
What drove Intercontinental Exchange's revenue change in Q2 2026?
Exchanges +$259M (+12%); Mortgage technology +$26.0M (+5%); Data and network technology +$21.0M (+12%).