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Intercontinental Exchange Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Intercontinental Exchange has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Intercontinental Exchange's Piotroski F-Score or its related term are showing as below:

ICE' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Intercontinental Exchange was 8. The lowest was 3. And the median was 6.


Intercontinental Exchange Piotroski F-Score Historical Data

The historical data trend for Intercontinental Exchange's Piotroski F-Score can be seen below:

* 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.

* Premium members only.

Intercontinental Exchange Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 7.00 5.00 6.00 6.00

Intercontinental Exchange Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 7.00 6.00 8.00 8.00

Competitive Comparison

For the Financial Data & Stock Exchanges subindustry, Intercontinental Exchange's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Capital Markets industry and Financial Services sector, Intercontinental Exchange's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Intercontinental Exchange's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 633 + 1527 + 657 + 555 = $3,372 Mil.
Cash Flow from Operations was 523 + 993 + 756 + 969 = $3,241 Mil.
Revenue was 2277 + 2328 + 2459 + 2413 = $9,477 Mil.
Gross Profit was 1260 + 1300 + 1365 + 1290 = $5,215 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(134190 + 150662 + 193502 + 208488 + 215207) / 5 = $180409.8 Mil.
Total Assets at the begining of this year (Jun21) was $134,190 Mil.
Long-Term Debt & Capital Lease Obligation was $18,376 Mil.
Total Current Assets was $176,375 Mil.
Total Current Liabilities was $169,422 Mil.
Net Income was 390 + 526 + 646 + 1252 = $2,814 Mil.

Revenue was 1930 + 2233 + 2429 + 2134 = $8,726 Mil.
Gross Profit was 982 + 1171 + 1281 + 1177 = $4,611 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(124060 + 128080 + 126200 + 128045 + 134190) / 5 = $128115 Mil.
Total Assets at the begining of last year (Jun20) was $124,060 Mil.
Long-Term Debt & Capital Lease Obligation was $14,422 Mil.
Total Current Assets was $96,066 Mil.
Total Current Liabilities was $94,250 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Intercontinental Exchange's current Net Income (TTM) was 3,372. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Intercontinental Exchange's current Cash Flow from Operations (TTM) was 3,241. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=3372/134190
=0.02512855

ROA (Last Year)=Net Income/Total Assets (Jun20)
=2814/124060
=0.02268257

Intercontinental Exchange's return on assets of this year was 0.02512855. Intercontinental Exchange's return on assets of last year was 0.02268257. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Intercontinental Exchange's current Net Income (TTM) was 3,372. Intercontinental Exchange's current Cash Flow from Operations (TTM) was 3,241. ==> 3,241 <= 3,372 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=18376/180409.8
=0.10185699

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=14422/128115
=0.11257074

Intercontinental Exchange's gearing of this year was 0.10185699. Intercontinental Exchange's gearing of last year was 0.11257074. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=176375/169422
=1.04103953

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=96066/94250
=1.0192679

Intercontinental Exchange's current ratio of this year was 1.04103953. Intercontinental Exchange's current ratio of last year was 1.0192679. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Intercontinental Exchange's number of shares in issue this year was 560. Intercontinental Exchange's number of shares in issue last year was 565. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=5215/9477
=0.55027962

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4611/8726
=0.52842081

Intercontinental Exchange's gross margin of this year was 0.55027962. Intercontinental Exchange's gross margin of last year was 0.52842081. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=9477/134190
=0.07062374

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=8726/124060
=0.07033693

Intercontinental Exchange's asset turnover of this year was 0.07062374. Intercontinental Exchange's asset turnover of last year was 0.07033693. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+1+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Intercontinental Exchange has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Intercontinental Exchange  (NYSE:ICE) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Intercontinental Exchange Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Intercontinental Exchange's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Intercontinental Exchange Business Description

Intercontinental Exchange logo
Address
5660 New Northside Drive, Atlanta, GA, USA, 30328
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 55% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (18% of net revenue) and fixed-income and data services segment (27% of net revenue).
Executives
Edmonds Christopher Scott officer: Chief Development Officer INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR ATLANTA GA 30328
Foley Douglas officer: SVP, HR & Administration INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR ATLANTA GA 30328
Kapani Mayur officer: Chief Technology Officer INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR ATLANTA GA 30328
Tirinnanzi Martha A director INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR ATLANTA GA 30328
Gardiner Warren officer: Chief Financial Officer INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR ATLANTA GA 30328
Mulhern Mark F director 410 S. WILMINGTON STREET RALEIGH NC 27601
Cooper Shantella E. director 241 RALPH MCGILL BLVD., NW ATLANTA GA 30308
Silver Caroline Louise director INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DR. ATLANTA GA 30328
Surdykowski Andrew J officer: General Counsel 5660 NEW NORTHSIDE DRIVE ATLANTA GA 30328
Martin Lynn C officer: President & COO, ICE Data Serv 5660 NEW NORTHSIDE DRIVE ATLANTA GA 30318
Namkung James W officer: Chief Accounting Officer C/O INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DRIVE, NW ATLANTA GA 30318
Bowen Sharon director 5660 NEW NORTHSIDE DRIVE ATLANTA GA 30328
Wassersug Mark officer: Chief Operating Officer 5660 NEW NORTHSIDE DRIVE ATLANTA GA 30328
Jackson Benjamin officer: President C/O INTERCONTINENTAL EXCHANGE, INC. 5660 NEW NORTHSIDE DRIVE ATLANTA GA 30328
Cairns Ann director 2000 PURCHASE STREET PURCHASE NY 10577

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