ICE EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
ICE's ev/ebitda is right around its 10-year median of 16.4.
EV/EBITDA History
ICE EV/EBITDA by year
Yearly range of ICE’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 9.1 to 22.5, averaging 16.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 13.3 | 16.1 | 17.9 | 16.6 |
| 2025 | 15.6 | 18.4 | 20.3 | 16.8 |
| 2024 | 17.4 | 19.6 | 21.3 | 17.4 |
| 2023 | 17.2 | 20.8 | 22.5 | 20.0 |
| 2022 | 9.1 | 12.5 | 16.0 | 15.2 |
| 2021 | 12.7 | 17.8 | 21.4 | 12.7 |
| 2020 | 13.0 | 17.5 | 21.6 | 21.0 |
| 2019 | 14.3 | 16.2 | 17.7 | 17.2 |
| 2018 | 13.9 | 15.5 | 16.8 | 14.9 |
| 2017 | 13.6 | 14.6 | 15.5 | 15.2 |
| 2016 | 14.3 | 15.1 | 15.9 | 15.1 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is ICE EV/EBITDA High or Low Right Now?
Intercontinental Exchange, Inc.'s EV/EBITDA is currently 16.6, which is around average relative to its 10-year historical range. The 10-year median EV/EBITDA for ICE is approximately 16.4. See all ICE valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.