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Intercontinental Exchange vs LPL Financial: revenue, profit, margins and growth compared

Intercontinental Exchange brought in $12.6B of revenue in fiscal 2025, LPL Financial $17B in fiscal 2025. Revenue changed by +7.5% at Intercontinental Exchange and +37.2% at LPL Financial on the year before, so LPL Financial grew faster. Intercontinental Exchange kept 26.2% of its revenue as net profit, LPL Financial 5.1%. Free cash flow was $4.3B at Intercontinental Exchange and -$981.8M at LPL Financial.

Side by side, latest fiscal year

ICELPLA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$12.6B$17B
Revenue growth+7.5%+37.2%
Net income$3.3B$863M
Net margin26.2%5.1%
Free cash flow$4.3B-$981.8M
Free cash flow margin33.9%-5.8%
Earnings per share (diluted)$5.77$10.92
Cash$837M$1B
Debt$19.6B$7.3B
Price to earnings26.728.8
Market value$86.6B$24.8B
Dividend yield1.24%0.38%
Rank by revenue in sector#55 of 444 · Finance#39 of 444 · Finance

Over the years

Revenue
ICE FY2018: $6.3BICE FY2019: $6.5BICE FY2020: $8.2BICE FY2021: $9.2BICE FY2022: $9.6BICE FY2023: $9.9BICE FY2024: $11.8BICE FY2025: $12.6BLPLA FY2018: $5.2BLPLA FY2019: $5.6BLPLA FY2020: $5.9BLPLA FY2021: $7.7BLPLA FY2022: $8.6BLPLA FY2023: $10.1BLPLA FY2024: $12.4BLPLA FY2025: $17BFY18FY19FY20FY21FY22FY23FY24FY25
ICE $12.6BLPLA $17B
Net income
ICE FY2018: $2BICE FY2019: $1.9BICE FY2020: $2.1BICE FY2021: $4.1BICE FY2022: $1.4BICE FY2023: $2.4BICE FY2024: $2.8BICE FY2025: $3.3BLPLA FY2018: $439.5MLPLA FY2019: $559.9MLPLA FY2020: $472.6MLPLA FY2021: $459.9MLPLA FY2022: $845.7MLPLA FY2023: $1.1BLPLA FY2024: $1.1BLPLA FY2025: $863MFY18FY19FY20FY21FY22FY23FY24FY25
ICE $3.3BLPLA $863M
Net margin
ICE FY2018: 31.7%ICE FY2019: 29.5%ICE FY2020: 25.3%ICE FY2021: 44.3%ICE FY2022: 15.0%ICE FY2023: 23.9%ICE FY2024: 23.4%ICE FY2025: 26.2%LPLA FY2018: 8.5%LPLA FY2019: 10.0%LPLA FY2020: 8.0%LPLA FY2021: 6.0%LPLA FY2022: 9.8%LPLA FY2023: 10.6%LPLA FY2024: 8.5%LPLA FY2025: 5.1%FY18FY19FY20FY21FY22FY23FY24FY25
ICE 26.2%LPLA 5.1%
Revenue growth
ICE FY2019: +4.3%ICE FY2020: +25.9%ICE FY2021: +11.2%ICE FY2022: +5.1%ICE FY2023: +2.8%ICE FY2024: +18.8%ICE FY2025: +7.5%LPLA FY2019: +8.4%LPLA FY2020: +4.4%LPLA FY2021: +31.5%LPLA FY2022: +11.4%LPLA FY2023: +16.9%LPLA FY2024: +23.2%LPLA FY2025: +37.2%FY19FY20FY21FY22FY23FY24FY25
ICE +7.5%LPLA +37.2%
Free cash flow
ICE FY2018: $2.4BICE FY2019: $2.5BICE FY2020: $2.7BICE FY2021: $2.9BICE FY2022: $3.3BICE FY2023: $3.4BICE FY2024: $4.2BICE FY2025: $4.3BLPLA FY2018: $448.9MLPLA FY2019: $467.5MLPLA FY2020: $634.4MLPLA FY2021: $237.1MLPLA FY2022: $1.6BLPLA FY2023: $109.3MLPLA FY2024: -$284.9MLPLA FY2025: -$981.8MFY18FY19FY20FY21FY22FY23FY24FY25
ICE $4.3BLPLA -$981.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Intercontinental Exchange and LPL Financial

Which is bigger by revenue, Intercontinental Exchange or LPL Financial?

LPL Financial is bigger by revenue: $17B in fiscal 2025, against $12.6B for Intercontinental Exchange in fiscal 2025.

Which keeps more of its revenue as profit, Intercontinental Exchange or LPL Financial?

Intercontinental Exchange had a net margin of 26.2% in fiscal 2025; LPL Financial had 5.1% in fiscal 2025.

Which grew revenue faster, Intercontinental Exchange or LPL Financial?

In their latest fiscal years revenue changed by +7.5% at Intercontinental Exchange and +37.2% at LPL Financial.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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