Filing Flows › Intercontinental Exchange (ICE) › Q3 2026 › vs Q3 2025
Intercontinental Exchange (ICE) Q3 2026 vs Q3 2025 (year over year)
Intercontinental Exchange's revenue rose $623M (+21%) from $3.0B in Q3 2025 to $3.6B in Q3 2026. The biggest changes: Exchanges +$500M (+26%); Fixed income data and analytics +$25.0M (+8%); Mortgage technology +$21.0M (+4%). Operating margin 38.8% against 39.0% (-0.2 pts).
Intercontinental Exchange, Q3 2026: revenue $3.6B (+21% year over year), operating margin 38.8%, net earnings $940M, operating cash flow $1.2B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 38.8% | 39.0% | -0.2 pts |
| Net margin | 25.9% | 27.1% | -1.2 pts |
| Free cash flow margin | 29.0% | 28.4% | +0.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Cash equities and equity options | $997M | $701M | $296M | +42% |
| Energy futures and options | $603M | $482M | $121M | +25% |
| Servicing software | $229M | $216M | $13.0M | +6% |
| Data and network technology | $202M | $184M | $18.0M | +10% |
| Financial futures and options | $190M | $139M | $51.0M | +37% |
| Origination technology | $189M | $188M | $1.0M | +0.5% |
| Exchanges | $2.4B | $1.9B | $500M | +26% |
| Mortgage technology | $549M | $528M | $21.0M | +4% |
| Fixed income data and analytics | $336M | $311M | $25.0M | +8% |
| Listings | $130M | $125M | $5.0M | +4% |
| OTC and other | $112M | $99.0M | $13.0M | +13% |
| CDS clearing | $102M | $90.0M | $12.0M | +13% |
| Revenue | $3.6B | $3.0B | $623M | +21% |
| Operating profit | $1.4B | $1.2B | $236M | +20% |
| Costs & expenses | $2.2B | $1.8B | $387M | +21% |
| Pre-tax earnings | $1.2B | $1.1B | $161M | +15% |
| Other expense, net | $168M | $93.0M | $75.0M | +81% |
| SG&A | $74.0M | $77.0M | −$3.0M | -4% |
| Other operating costs | $2.1B | $1.8B | $390M | +22% |
| Net earnings | $940M | $816M | $124M | +15% |
| Minority interests | $16.0M | $15.0M | $1.0M | +7% |
| Income tax | $286M | $250M | $36.0M | +14% |
| Depreciation & amortization | $399M | $387M | $12.0M | +3% |
| Share-based compensation | $71.0M | $54.0M | $17.0M | +31% |
| Working capital & other | $248M | $342M | −$94.0M | -27% |
| Operating cash flow | $1.2B | $915M | $247M | +27% |
| Free cash flow (OCF − capex) | $1.1B | $853M | $199M | +23% |
| Capital expenditures | $110M | $62.0M | $48.0M | +77% |
Questions
How much did Intercontinental Exchange's revenue grow year over year in Q3 2026?
Intercontinental Exchange's revenue rose $623M (+21%) from $3.0B in Q3 2025 to $3.6B in Q3 2026.
What drove Intercontinental Exchange's revenue change in Q3 2026?
Exchanges +$500M (+26%); Fixed income data and analytics +$25.0M (+8%); Mortgage technology +$21.0M (+4%).