Is Intercontinental Exchange, Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Intercontinental Exchange, Inc. moved from expensive to fair. The company appears fairly valued based on its current metrics. Key ratios include a P/E ratio of 40, an EV to EBITDA of 18.35, and a Price to Book Value of 4.10. In comparison, peers such as Morgan Stanley have a P/E of 18.52, while The Goldman Sachs Group, Inc. has a P/E of 41.63, indicating that Intercontinental Exchange is positioned competitively within its industry.
Despite the fair valuation, the company's recent stock performance has lagged behind the S&P 500, with a year-to-date return of -1.83% compared to the index's 16.30%. Over the longer term, however, the stock has shown a 3-year return of 53.07%, although this is still below the S&P 500's 76.66% return in the same period.