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Intercontinental ExchangeFRA:IC2 +2.55%80 Debt-to-EBITDA is 2.11 as of Mar. 2026, which is 22% below its 10-year median of 2.69. GuruFocus rates FRA:IC2 with a GF Score™ of 80/100 and a GF Value™ of €137.28 (Fairly Valued). The stock has 3 warning signs investors should review. Among 422 Capital Markets companies, Intercontinental Exchange ranks worse than 58.29% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Intercontinental Exchange's Debt-to-EBITDA or its related term are showing as below:
FRA:IC2'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.88 Med: 2.69 Max: 5.32
Current: 2.79
During the past 13 years, the highest Debt-to-EBITDA Ratio of Intercontinental Exchange was 5.32. The lowest was 1.88. And the median was 2.69.
FRA:IC2's Debt-to-EBITDA is ranked worse than 58.29% of 422
companies
in the Capital Markets industry
Industry Median: 1.6
vs FRA:IC2: 2.79
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Intercontinental Exchange Debt-to-EBITDA Related Terms
Intercontinental Exchange Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:IC2 vs MCO, CME, NDAQ: Debt-to-EBITDA Comparison
For the Financial Data & Stock Exchanges subindustry, Intercontinental Exchange's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Intercontinental Exchange Debt-to-EBITDA vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Intercontinental Exchange's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Intercontinental Exchange's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Intercontinental Exchange (FRA:IC2) has a Debt-to-EBITDA of 2.11 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Intercontinental Exchange. This is 22% below median its historical median of 2.69. Over the past decade, Intercontinental Exchange's Debt-to-EBITDA has ranged from 1.88 to 5.32. According to the industry distribution chart, Intercontinental Exchange ranks #246 out of 422 companies in the Capital Markets industry, placing it in the top 58.3%.
Is Intercontinental Exchange's Debt-to-EBITDA too high?
Intercontinental Exchange's current Debt-to-EBITDA of 2.11 is 22% below median its 10-year median of 2.69. Over the past 10 years, this metric has ranged from a low of 1.88 to a high of 5.32. The Capital Markets industry median Debt-to-EBITDA is 1.60. Intercontinental Exchange's value of 2.11 is 31.9% above this industry median. Based on the distribution chart, Intercontinental Exchange ranks #246 out of 422 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Intercontinental Exchange has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Intercontinental Exchange's Debt-to-EBITDA compare to MCO and CME?
According to the Capital Markets industry distribution chart, Intercontinental Exchange ranks #246 out of 422 companies for Debt-to-EBITDA. This places Intercontinental Exchange in the lower half of its industry. The industry median Debt-to-EBITDA is 1.60. Intercontinental Exchange's value of 2.11 is 31.9% above this benchmark. Historically, Intercontinental Exchange's own Debt-to-EBITDA has ranged from 1.88 to 5.32 over the past decade. While the company's 10-year median is 2.69 vs. the industry median of 1.60, Intercontinental Exchange has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Capital Markets company?
The median Debt-to-EBITDA among Capital Markets companies is 1.60, based on 422 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Intercontinental Exchange's current Debt-to-EBITDA of 2.11 is 31.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Intercontinental Exchange. For the Capital Markets industry, the median Debt-to-EBITDA is 1.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intercontinental Exchange's current Debt-to-EBITDA is 2.11, which is 22% below median its own 10-year median of 2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intercontinental Exchange stock overvalued right now?
Based on GuruFocus' analysis, Intercontinental Exchange (FRA:IC2) is currently considered Fairly Valued. The stock's GF Value™ is €137.28, compared to a current price of €132.90 — trading 3.2% below its estimated fair value. The current Debt-to-EBITDA is 2.11, which is 22% below median its 10-year median of 2.69 and 31.9% above the Capital Markets industry median of 1.60. Intercontinental Exchange's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Intercontinental Exchange (FRA:IC2), the current Debt-to-EBITDA is 2.11 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Intercontinental Exchange (FRA:IC2) Overvalued in 2026?
Based on GuruFocus' analysis, Intercontinental Exchange stock appears to be undervalued.
The current stock price of €132.90 is trading 3.2% below its estimated GF Value™ of €137.28.
GuruFocus considers Intercontinental Exchange to be Fairly Valued.
Key valuation signals for FRA:IC2:
Debt-to-EBITDA: 2.11 (22% below median its 10-year median of 2.69)
GF Value™: €137.28 vs. price of €132.90 (3.2% below fair value)
Industry Position: 31.9% above the Capital Markets median (#246 of 422)
No single metric tells the full story. See the FRA:IC2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data-services segment (24% of net revenue).
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