Intercontinental Exchange (ICE) FY2020 results: revenue $8.2 billion, up 25.9% on the year
Intercontinental Exchange, Inc. (ICE) reported revenue of $8.2 billion for fiscal 2020, the year ended 31 December 2020, up 25.9% on the year before. Net income was $2.1 billion, up 8.1%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2021.
Revenue
$8.2 billion
+25.9% on the year
FY2013FY2020
Operating margin
36.8%
40.8% a year earlier
FY2013FY2020
Net income
$2.1 billion
+8.1% on the year
FY2013FY2020
Diluted EPS
$3.77
+10.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,244
6,547
6,276
+25.9%
Selling, general and administrative
185
161
151
+14.9%
Operating income
3,033
2,673
2,583
+13.5%
Operating margin
36.8%
40.8%
41.2%
Interest expense
357
285
244
+25.3%
Pre-tax income
2,766
2,481
2,520
+11.5%
Income tax
658
521
500
+26.3%
Effective tax rate
23.8%
21.0%
19.8%
Net income
2,089
1,933
1,988
+8.1%
Net margin
25.3%
29.5%
31.7%
Diluted EPS
$3.77
$3.42
$3.43
+10.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,881
2,659
2,533
+8.3%
Capital expenditure
207
153
134
+35.3%
Free cash flow
2,674
2,506
2,399
+6.7%
Free cash flow margin
32.4%
38.3%
38.2%
Cash from investing
-10,361
-1,740
-1,755
Cash from financing
26,000
-424
-463
Depreciation and amortisation
751
662
586
+13.4%
Share-based compensation
139
139
130
0.0%
Buybacks
1,247
1,460
1,198
-14.6%
Dividends paid
669
621
555
+7.7%
Dividend per share
$1.20
$1.10
$0.96
+9.1%
Diluted shares, weighted
555m
565m
579m
-1.8%
Shares outstanding at period end
561m
554m
569m
+1.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
19,498
17,255
17,201
+13.0%
Non-controlling interest
36.0
31.0
30.0
+16.1%
Redeemable equity
93.0
78.0
71.0
+19.2%
Debt
16,537
7,819
7,441
+111.5%
Operating lease liabilities
320
281
0.0
+13.9%
Other liabilities
89,716
69,029
68,048
+30.0%
Total liabilities and equity
126,200
94,493
92,791
+33.6%
Fixed assets
n/a
1,536
1,241
Goodwill
21,291
13,342
13,085
+59.6%
Intangible assets
14,408
10,258
10,462
+40.5%
Cash and equivalents
583
841
724
-30.7%
Receivables
1,230
988
953
+24.5%
Other assets
88,688
67,528
66,326
+31.3%
Total assets
126,200
94,493
92,791
+33.6%
10-K for the year ended 31 December 2020, filed 4 February 2021: the filing.