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Intercontinental Exchange vs CME Group: ICE and CME compared
Intercontinental Exchange is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $1.7B for CME Group (Q3 2026). Intercontinental Exchange is growing faster (+21% against +13% a year earlier). CME Group is more profitable, with an operating margin of 65.7% against 38.8%.
Where the money goes: ICE and CME
Intercontinental Exchange (ICE) · Q3 2026
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 follows the revenue to costs, profit and cash.
CME Group (CME) · Q3 2026
CME Group, Q3 2026: revenue $1.7B (+13% year over year), operating margin 65.7%, net earnings $1.0B, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Intercontinental Exchange (ICE) | CME Group (CME) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.6B | $1.7B |
| Revenue growth, Y/Y | +21% | +13% |
| Operating margin | 38.8% | 65.7% |
| Net earnings | $940M | $1.0B |
| Net margin | 25.9% | 59.7% |
| Operating cash flow | $1.2B | $1.1B |
| Free cash flow | $1.1B | $1.1B |
| Market value | $98.0B | $110.1B |
| P/E | 23.7× | 25.2× |
| Analysts’ mean target | $192.20 | $317.06 |
Where the revenue comes from
Intercontinental Exchange
- Exchanges: $2.4B (66%)
- Mortgage technology: $549M (15%)
- Fixed income data and analytics: $336M (9%)
- Listings: $130M (4%)
CME Group
- Clearing and transaction fees: $1.4B (79%)
- Market data and information services: $243M (14%)
- Other: $116M (7%)
Questions
Which is bigger, Intercontinental Exchange or CME Group?
Intercontinental Exchange is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $1.7B for CME Group (Q3 2026).
Is Intercontinental Exchange or CME Group growing faster?
Intercontinental Exchange is growing faster (+21% against +13% a year earlier).
Which is more profitable, Intercontinental Exchange or CME Group?
CME Group is more profitable, with an operating margin of 65.7% against 38.8%.
More: Intercontinental Exchange earnings · how Intercontinental Exchange makes money · CME Group earnings · how CME Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 23, 2026). Fiscal quarters can end on different dates. Not investment advice.