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 significantly higher P/E of 41.63, indicating that Intercontinental Exchange is positioned reasonably 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 -2.30% compared to the index's 16.30%. This trend continues over one year, where the company returned -5.85% against the S&P 500's 19.89%. Overall, while the valuation suggests fair pricing, the stock's performance relative to the benchmark raises some concerns.