Intercontinental Exchange (ICE) FY2019 results: revenue $6.5 billion, up 4.3% on the year
Intercontinental Exchange, Inc. (ICE) reported revenue of $6.5 billion for fiscal 2019, the year ended 31 December 2019, up 4.3% on the year before. Net income was $1.9 billion, down 2.8%, and diluted earnings per share $3.42. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2020.
Revenue
$6.5 billion
+4.3% on the year
FY2012FY2019
Operating margin
40.8%
41.2% a year earlier
FY2012FY2019
Net income
$1.9 billion
-2.8% on the year
FY2012FY2019
Diluted EPS
$3.42
-0.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,547
6,276
5,834
+4.3%
Selling, general and administrative
161
151
155
+6.6%
Operating income
2,673
2,583
2,379
+3.5%
Operating margin
40.8%
41.2%
40.8%
Interest expense
285
244
187
+16.8%
Pre-tax income
2,481
2,520
2,526
-1.5%
Income tax
521
500
-28.0
+4.2%
Effective tax rate
21.0%
19.8%
-1.1%
Net income
1,933
1,988
2,526
-2.8%
Net margin
29.5%
31.7%
43.3%
Diluted EPS
$3.42
$3.43
$4.25
-0.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,659
2,533
2,085
+5.0%
Capital expenditure
153
134
220
+14.2%
Free cash flow
2,506
2,399
1,865
+4.5%
Free cash flow margin
38.3%
38.2%
32.0%
Cash from investing
-1,740
-1,755
92.0
Cash from financing
-424
-463
-1,971
Depreciation and amortisation
662
586
535
+13.0%
Share-based compensation
139
130
135
+6.9%
Buybacks
1,460
1,198
949
+21.9%
Dividends paid
621
555
476
+11.9%
Dividend per share
$1.10
$0.96
$0.80
+14.6%
Diluted shares, weighted
565m
579m
594m
-2.4%
Shares outstanding at period end
554m
569m
583m
-2.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
17,255
17,201
16,924
+0.3%
Non-controlling interest
31.0
30.0
28.0
+3.3%
Redeemable equity
78.0
71.0
0.0
+9.9%
Short-term borrowings
n/a
n/a
1,833
Debt
7,819
7,441
6,100
+5.1%
Operating lease liabilities
281
0.0
n/a
Other liabilities
69,029
68,048
53,379
+1.4%
Total liabilities and equity
94,493
92,791
78,264
+1.8%
Fixed assets
1,536
1,241
1,246
+23.8%
Goodwill
13,342
13,085
12,216
+2.0%
Intangible assets
10,258
10,462
10,269
-1.9%
Investments
n/a
n/a
16.0
Cash and equivalents
841
724
1,568
+16.2%
Receivables
988
953
903
+3.7%
Other assets
67,528
66,326
52,046
+1.8%
Total assets
94,493
92,791
78,264
+1.8%
10-K for the year ended 31 December 2019, filed 6 February 2020: the filing.