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 $88.0B against $41.0B — 2.1× the size. Intercontinental Exchange Inc. trades at the lower P/E: 21.7× against 30.1×. 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 (1.35% vs 1.04%). Across the 22 metrics below, Intercontinental Exchange Inc. leads on 13 and MSCI Inc on 9.

Valuation

Metric ICE MSCI Financial Data & Stock Exchanges median
P/E 21.67 30.13 21.77
P/S 8.24 12.05 7.79
P/B 2.94 n/m 3.85
Price to free cash flow 18.75 26.92 18.75
EV/EBITDA 14.93 22.18 15.55
EV/Sales 9.92 13.86 6.94
Earnings yield 4.61% 3.32% 4.49%
Free cash flow yield 5.33% 3.71% 4.68%

Profitability

Metric ICE MSCI Financial Data & Stock Exchanges median
Gross margin 98.59% 82.98% 70.90%
Operating margin 51.78% 55.66% 29.55%
Net margin 38.25% 40.73% 23.21%
Free cash flow margin 43.96% 44.77% 29.05%
Return on equity 13.89% (75.96%) 15.34%
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% —
Revenue growth, 5-year CAGR 10.47% 13.08% 7.76%
Net income growth, 5-year CAGR 9.68% 14.84% 9.78%

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 1.08

Dividend

Metric ICE MSCI Financial Data & Stock Exchanges median
Dividend yield 1.35% 1.04% 1.16%
Payout ratio 0.53 0.46 0.42

Size

Metric ICE MSCI Financial Data & Stock Exchanges median
Market cap 87.99b 41.00b 27.94b

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