Intercontinental Exchange Inc. (ICE) vs Nasdaq, Inc. (NDAQ)

Intercontinental Exchange Inc. and Nasdaq, Inc. are both Financial Data & Stock Exchanges companies. Intercontinental Exchange Inc. is the larger, with a market value of $88.0B against $52.9B — 1.7× the size. Intercontinental Exchange Inc. trades at the lower P/E: 21.7× against 27.0×. Intercontinental Exchange Inc. grew revenue faster over the last twelve months: 8.98% against 7.42%. Intercontinental Exchange Inc. has the higher net margin (38.3% vs 22.5%) and the lower return on invested capital (7.48% vs 8.18%). Both pay a dividend; Nasdaq, Inc. yields more (1.62% vs 1.35%). Across the 23 metrics below, Intercontinental Exchange Inc. leads on 15 and Nasdaq, Inc. on 8.

Valuation

Metric ICE NDAQ Financial Data & Stock Exchanges median
P/E 21.67 26.96 21.77
P/S 8.24 6.04 7.79
P/B 2.94 4.40 3.85
Price to free cash flow 18.75 27.05 18.75
EV/EBITDA 14.93 18.73 15.55
EV/Sales 9.92 6.94 6.94
Earnings yield 4.61% 3.71% 4.49%
Free cash flow yield 5.33% 3.70% 4.68%

Profitability

Metric ICE NDAQ Financial Data & Stock Exchanges median
Gross margin 98.59% 64.27% 70.90%
Operating margin 51.78% 29.60% 29.55%
Net margin 38.25% 22.52% 23.21%
Free cash flow margin 43.96% 22.34% 29.05%
Return on equity 13.89% 16.52% 15.34%
Return on assets 2.54% 6.82% 6.82%
Return on invested capital 7.48% 8.18% 9.96%

Growth

Metric ICE NDAQ Financial Data & Stock Exchanges median
Revenue growth (TTM) 8.98% 7.42% 9.16%
EPS growth (last fiscal year) 20.71% 60.10% —
Revenue growth, 5-year CAGR 10.47% 7.99% 7.76%
Net income growth, 5-year CAGR 9.68% 13.89% 9.78%

Health

Metric ICE NDAQ Financial Data & Stock Exchanges median
Debt to equity 0.63 0.71 0.48
Current ratio 1.01 1.01 1.06
Net debt to EBITDA 2.53 2.61 1.08

Dividend

Metric ICE NDAQ Financial Data & Stock Exchanges median
Dividend yield 1.35% 1.62% 1.16%
Payout ratio 0.53 0.37 0.42

Size

Metric ICE NDAQ Financial Data & Stock Exchanges median
Market cap 87.99b 52.94b 27.94b

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