Intercontinental Exchange (ICE) FY2017 results: revenue $5.8 billion, down 2.3% on the year
Intercontinental Exchange, Inc. (ICE) reported revenue of $5.8 billion for fiscal 2017, the year ended 31 December 2017, down 2.3% on the year before. Net income was $2.5 billion, up 76.6%, and diluted earnings per share $4.25. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2018.
Revenue
$5.8 billion
-2.3% on the year
FY2011FY2017
Operating margin
40.8%
36.4% a year earlier
FY2011FY2017
Net income
$2.5 billion
+76.6% on the year
FY2011FY2017
Diluted EPS
$4.25
+77.8% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,834
5,971
4,682
-2.3%
Selling, general and administrative
155
116
116
+33.6%
Operating income
2,379
2,172
1,750
+9.5%
Operating margin
40.8%
36.4%
37.4%
Interest expense
187
178
97.0
+5.1%
Pre-tax income
2,526
2,043
1,653
+23.6%
Income tax
-28.0
586
358
Effective tax rate
-1.1%
28.7%
21.7%
Net income
2,526
1,430
1,274
+76.6%
Net margin
43.3%
23.9%
27.2%
Diluted EPS
$4.25
$2.39
$2.28
+77.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,085
2,149
1,311
-3.0%
Capital expenditure
220
250
190
-12.0%
Free cash flow
1,865
1,899
1,121
-1.8%
Free cash flow margin
32.0%
31.8%
23.9%
Cash from investing
92.0
-860
-3,004
Cash from financing
-1,971
-1,462
1,976
Depreciation and amortisation
535
610
374
-12.3%
Share-based compensation
135
124
111
+8.9%
Buybacks
949
50.0
660
+1,798.0%
Dividends paid
476
409
331
+16.4%
Dividend per share
$0.80
$0.68
$0.58
+17.6%
Diluted shares, weighted
594m
599m
560m
-0.8%
Shares outstanding at period end
583m
594m
595m
-1.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
16,924
15,717
14,808
+7.7%
Non-controlling interest
28.0
37.0
32.0
-24.3%
Redeemable equity
0.0
36.0
35.0
Short-term borrowings
1,833
2,493
2,591
-26.5%
Debt
6,100
6,364
7,308
-4.1%
Other liabilities
53,379
57,356
53,213
-6.9%
Total liabilities and equity
78,264
82,003
77,987
-4.6%
Fixed assets
1,246
1,129
1,037
+10.4%
Goodwill
12,216
12,291
12,079
-0.6%
Intangible assets
10,269
10,420
10,758
-1.4%
Investments
16.0
455
328
-96.5%
Cash and equivalents
1,568
1,350
1,547
+16.1%
Receivables
903
777
700
+16.2%
Other assets
52,046
55,581
51,538
-6.4%
Total assets
78,264
82,003
77,987
-4.6%
10-K for the year ended 31 December 2017, filed 7 February 2018: the filing.