Intercontinental Exchange (ICE) FY2018 results: revenue $6.3 billion, up 7.6% on the year
Intercontinental Exchange, Inc. (ICE) reported revenue of $6.3 billion for fiscal 2018, the year ended 31 December 2018, up 7.6% on the year before. Net income was $2.0 billion, down 21.3%, and diluted earnings per share $3.43. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$6.3 billion
+7.6% on the year
FY2011FY2018
Operating margin
41.2%
40.8% a year earlier
FY2011FY2018
Net income
$2.0 billion
-21.3% on the year
FY2011FY2018
Diluted EPS
$3.43
-19.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,276
5,834
5,971
+7.6%
Selling, general and administrative
151
155
116
-2.6%
Operating income
2,583
2,379
2,172
+8.6%
Operating margin
41.2%
40.8%
36.4%
Interest expense
244
187
178
+30.5%
Pre-tax income
2,520
2,526
2,043
-0.2%
Income tax
500
-28.0
586
Effective tax rate
19.8%
-1.1%
28.7%
Net income
1,988
2,526
1,430
-21.3%
Net margin
31.7%
43.3%
23.9%
Diluted EPS
$3.43
$4.25
$2.39
-19.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,533
2,085
2,149
+21.5%
Capital expenditure
134
220
250
-39.1%
Free cash flow
2,399
1,865
1,899
+28.6%
Free cash flow margin
38.2%
32.0%
31.8%
Cash from investing
-1,755
92.0
-860
Cash from financing
-463
-1,971
-1,462
Depreciation and amortisation
586
535
610
+9.5%
Share-based compensation
130
135
124
-3.7%
Buybacks
1,198
949
50.0
+26.2%
Dividends paid
555
476
409
+16.6%
Dividend per share
$0.96
$0.80
$0.68
+20.0%
Diluted shares, weighted
579m
594m
599m
-2.5%
Shares outstanding at period end
569m
583m
594m
-2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
17,201
16,924
15,717
+1.6%
Non-controlling interest
30.0
28.0
37.0
+7.1%
Redeemable equity
71.0
0.0
36.0
Short-term borrowings
n/a
1,833
2,493
Debt
7,441
6,100
6,364
+22.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
68,048
53,379
57,356
+27.5%
Total liabilities and equity
92,791
78,264
82,003
+18.6%
Fixed assets
1,241
1,246
1,129
-0.4%
Goodwill
13,085
12,216
12,291
+7.1%
Intangible assets
10,462
10,269
10,420
+1.9%
Investments
n/a
16.0
455
Cash and equivalents
724
1,568
1,350
-53.8%
Receivables
953
903
777
+5.5%
Other assets
66,326
52,046
55,581
+27.4%
Total assets
92,791
78,264
82,003
+18.6%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.