Intercontinental Exchange reported very strong first-quarter earnings, thanks to record-breaking trading volume in the firm's futures business. Net revenue rose 20% from last year to $3 billion, while adjusted diluted earnings per share increased 37% to $2.35.
ICE has become increasingly less reliant on transactional revenue as it expands its data and service offerings organically and through acquisitions. If trading volume declines, we expect the firm to be less affected than in the past.
ICE's mortgage technology segment could continue to struggle if mortgage rates remain persistently high.
|
Metric
|
ICE
|
DB1
|
CME
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.73 | 21.78 | 21.75 |
Price/Book Value | 2.73 | 4.26 | 3.48 |
Price/Sales | 6.23 | 5.96 | 13.68 |
Price/Cash Flow | 14.51 | 15.63 | 21.11 |
|
Metric
|
ICE
|
DB1
|
CME
|
|---|---|---|---|
Quick Ratio | 0.06 | 0.74 | 0.02 |
Current Ratio | 1.01 | 1.01 | 1.02 |
Interest Coverage | 7.33 | 20.79 | 32.93 |
|
Metric
|
ICE
|
DB1
|
CME
|
|---|---|---|---|
Return on Assets (Normalized) | 2.91% | 0.72% | 2.30% |
Return on Equity (Normalized) | 15.11% | 20.03% | 15.36% |
Return on Invested Capital (Normalized) | 9.94% | 1.01% | 14.10% |
|
1-Day Chart
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United States