Equitable vs Intercontinental Exchange
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KIRAβs take AI analyst
I put Equitable and Intercontinental Exchange side by side, using each oneβs latest annual report. Here is what stands out:
- Intercontinental Exchange is the larger business, with $12.6B of revenue in fiscal 2025 against $11.7B for Equitable.
- Intercontinental Exchange grew revenue faster (7.5%, against β6.1%).
Who comes out ahead
Of the 4 measures where higher (or lower) is clearly better, how many each company leads.
Equitable
EQH
1/4
Share count change
Intercontinental Exchange
ICE
3/4
Revenue growth5-year growthNet margin
Side by side
Best in the row
| Latest fiscal year | EQH FY25 | ICE FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.9B | $90.6B |
| Revenue | $11.7B | $12.6B |
| Free cash flow | β | $4.3B |
| Net income | β$1.4B | $3.3B |
| Growth | ||
| Revenue growth | β6.1% | 7.5% |
| 5-year growth | β1.2% | 8.9% |
| Share count change | β8.2% | β0.2% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | 39.0% |
| Net margin | β11.8% | 26.2% |
| FCF margin | β | 33.9% |
| Return on capital | β | 7.7% |
| Return on equity | β | 11.7% |
| Balance sheet | ||
| Net debt | β$8.6B | $19.8B |
| Net debt / EBITDA | β | 3.1x |
| Dividends and buybacks | $1.8B | $2.4B |
| Valuation & quality | ||
| P/E | β | 22.6x |
| Piotroski F-score | β | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.