Intercontinental Exchange reported a strong full-year 2025, marking its 20th consecutive year of record revenues and continued EPS growth, driven by its diversified business model and operational discipline. The company demonstrated robust performance across its exchanges, fixed income, and mortgage technology platforms, ending the year with renewed strength and a positive outlook for 2026.
Record full year 2025 revenues of $9.9 billion, up 7% year-over-year.
positiveGAAP diluted EPS of $5.77 for full year 2025, up 21% year-over-year.
positiveRecord full year 2025 operating income of $4.9 billion, up 14% year-over-year.
positiveRecord annual operating cash flow of $4.7 billion, up 1% year-over-year.
positiveReturned $2.4 billion to stockholders in 2025, including $1.3 billion in share repurchases.
positiveFourth quarter consolidated net revenues were $2.5 billion, up 8% year-over-year.
positiveFourth quarter GAAP diluted EPS were $1.49.
positiveMortgage Technology segment operating margin was 1% for the full year 2025 and 1% for Q4 2025, indicating significant pressure in this segment.
attentionMortgage Technology segment operating expenses were $2.1 billion for the full year 2025, nearly matching its revenue of $2.1 billion.
attentionInterest expense was $803 million for the full year 2025, a significant cost impacting net income.
attentionFull year 2025 operating expenses were $5.0 billion, an increase from $4.97 billion in the prior year.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Exchanges | N/A | — | — | — |
Fixed Income and Data Services | N/A | — | — | — |
Mortgage Technology | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
20th consecutive year of record revenues and continued earnings per share growth.
Diversified 'all-weather' business model and the trust of our global customers are key drivers.
Modernizing critical financial infrastructure leveraging best in class technology and automation.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.