Intercontinental Exchange Inc. (ICE) vs MSCI Inc (MSCI)

Intercontinental Exchange Inc. and MSCI Inc are both Financial Data & Stock Exchanges companies. Intercontinental Exchange Inc. is the larger, with a market value of $88.9B against $41.8B — 2.1× the size. Intercontinental Exchange Inc. trades at the lower P/E: 22.7× against 31.1×. MSCI Inc grew revenue faster over the last twelve months: 11.6% against 8.98%. MSCI Inc has the higher net margin (40.7% vs 38.3%) and the higher return on invested capital (34.8% vs 7.48%). Both pay a dividend; Intercontinental Exchange Inc. yields more (1.58% vs 1.40%). Across the 20 metrics below, Intercontinental Exchange Inc. leads on 11 and MSCI Inc on 9.

Valuation

Metric ICE MSCI Financial Data & Stock Exchanges median
P/E 22.69 31.06 23.59
P/S 8.63 12.43 6.89
P/B 3.08 n/m 4.00
Price to free cash flow 19.63 27.76 19.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.41% 3.22% 4.04%
Free cash flow yield 5.09% 3.60% 4.39%

Profitability

Metric ICE MSCI Financial Data & Stock Exchanges median
Gross margin 98.59% 82.98% 70.90%
Operating margin 51.78% 55.66% 28.27%
Net margin 38.25% 40.73% 22.52%
Free cash flow margin 43.96% 44.77% 28.57%
Return on equity 13.89% (75.96%) 15.12%
Return on assets 2.54% 24.74% 6.82%
Return on invested capital 7.48% 34.78% 9.96%

Growth

Metric ICE MSCI Financial Data & Stock Exchanges median
Revenue growth (TTM) 8.98% 11.62% 9.16%
EPS growth (last fiscal year) 20.71% 11.67% 15.41%
Revenue growth, 5-year CAGR 10.47% 13.08% 8.62%
Net income growth, 5-year CAGR 9.68% 14.84% 10.27%

Health

Metric ICE MSCI Financial Data & Stock Exchanges median
Debt to equity 0.63 (2.37) 0.48
Current ratio 1.01 0.89 1.06
Net debt to EBITDA 2.53 2.93 1.19

Dividend

Metric ICE MSCI Financial Data & Stock Exchanges median
Dividend yield 1.58% 1.40% 1.28%
Payout ratio 0.36 0.43 0.32

Size

Metric ICE MSCI Financial Data & Stock Exchanges median
Market cap 88.93b 41.81b 32.17b

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