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Intercontinental ExchangeHAM:IC2 -1.15%84 ROC (Joel Greenblatt) % is 313.21% as of Mar. 2026, which is 118% above its 10-year median of 143.95. GuruFocus rates HAM:IC2 with a GF Score™ of 84/100 and a GF Value™ of €138.26 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 678 Capital Markets companies, Intercontinental Exchange ranks better than 75.81% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Intercontinental Exchange's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 313.21%.
The historical rank and industry rank for Intercontinental Exchange's ROC (Joel Greenblatt) % or its related term are showing as below:
HAM:IC2'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 82.62 Med: 143.95 Max: 241.03
Current: 241.03
During the past 13 years, Intercontinental Exchange's highest ROC (Joel Greenblatt) % was 241.03%. The lowest was 82.62%. And the median was 143.95%.
HAM:IC2's ROC (Joel Greenblatt) % is ranked better than 75.81% of 678
companies
in the Capital Markets industry
Industry Median: 34.895
vs HAM:IC2: 241.03
Intercontinental Exchange's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 12.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Intercontinental Exchange ROC (Joel Greenblatt) % Related Terms
Intercontinental Exchange ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Intercontinental Exchange's ROC (Joel Greenblatt) % 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.
HAM:IC2 vs MCO, CME, NDAQ: ROC (Joel Greenblatt) % Comparison
For the Financial Data & Stock Exchanges subindustry, Intercontinental Exchange's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Intercontinental Exchange's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Intercontinental Exchange's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.
What does a ROC (Joel Greenblatt) % of 313.21% mean?
Intercontinental Exchange (HAM:IC2) has a ROC (Joel Greenblatt) % of 313.21% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intercontinental Exchange and its competitors. This is 118% above median its historical median of 143.95. Over the past decade, Intercontinental Exchange's ROC (Joel Greenblatt) % has ranged from 82.62 to 241.03. According to the industry distribution chart, Intercontinental Exchange ranks #164 out of 678 companies in the Capital Markets industry, placing it in the top 24.2%.
Is Intercontinental Exchange's ROC (Joel Greenblatt) % too high?
Intercontinental Exchange's current ROC (Joel Greenblatt) % of 313.21% is 118% above median its 10-year median of 143.95. Over the past 10 years, this metric has ranged from a low of 82.62 to a high of 241.03. The Capital Markets industry median ROC (Joel Greenblatt) % is 34.90. Intercontinental Exchange's value of 313.21% is 797.6% above this industry median. Based on the distribution chart, Intercontinental Exchange ranks #164 out of 678 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Intercontinental Exchange has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Intercontinental Exchange's ROC (Joel Greenblatt) % compare to MCO and CME?
According to the Capital Markets industry distribution chart, Intercontinental Exchange ranks #164 out of 678 companies for ROC (Joel Greenblatt) %. This places Intercontinental Exchange in the top 24% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 34.90. Intercontinental Exchange's value of 313.21% is 797.6% above this benchmark. Historically, Intercontinental Exchange's own ROC (Joel Greenblatt) % has ranged from 82.62 to 241.03 over the past decade. While the company's 10-year median is 143.95 vs. the industry median of 34.90, 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 ROC (Joel Greenblatt) % for a Capital Markets company?
The median ROC (Joel Greenblatt) % among Capital Markets companies is 34.90, based on 678 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Intercontinental Exchange's current ROC (Joel Greenblatt) % of 313.21% is 797.6% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Intercontinental Exchange and its competitors. For the Capital Markets industry, the median ROC (Joel Greenblatt) % is 34.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Intercontinental Exchange's current ROC (Joel Greenblatt) % is 313.21%, which is 118% above median its own 10-year median of 143.95. 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 (HAM:IC2) is currently considered Modestly Undervalued. The stock's GF Value™ is €138.26, compared to a current price of €116.55 — trading 15.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 313.21%, which is 118% above median its 10-year median of 143.95 and 797.6% above the Capital Markets industry median of 34.90. Intercontinental Exchange's overall GF Score™ is 84/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Intercontinental Exchange (HAM:IC2), the current ROC (Joel Greenblatt) % is 313.21% 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 (HAM:IC2) Overvalued in 2026?
Based on GuruFocus' analysis, Intercontinental Exchange stock appears to be undervalued.
The current stock price of €116.55 is trading 15.7% below its estimated GF Value™ of €138.26.
GuruFocus considers Intercontinental Exchange to be Modestly Undervalued.
Key valuation signals for HAM:IC2:
ROC (Joel Greenblatt) %: 313.21% (118% above median its 10-year median of 143.95)
GF Value™: €138.26 vs. price of €116.55 (15.7% below fair value)
Industry Position: 797.6% above the Capital Markets median (#164 of 678)
No single metric tells the full story. See the HAM: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).
84GF Score
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