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Intercontinental Exchange vs StoneX: revenue, profit, margins and growth compared

Intercontinental Exchange brought in $12.6B of revenue in fiscal 2025, StoneX $132.4B in fiscal 2025. Revenue changed by +7.5% at Intercontinental Exchange and +32.5% at StoneX on the year before, so StoneX grew faster. Intercontinental Exchange kept 26.2% of its revenue as net profit, StoneX 0.2%. Free cash flow was $4.3B at Intercontinental Exchange and $4.3B at StoneX.

Side by side, latest fiscal year

ICESNEX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$12.6B$132.4B
Revenue growth+7.5%+32.5%
Net income$3.3B$305.9M
Net margin26.2%0.2%
Free cash flow$4.3B$4.3B
Free cash flow margin33.9%3.3%
Earnings per share (diluted)$5.77$5.89
Cash$837M$1.6B
Debt$19.6Bn/a
Price to earnings26.711.3
Market value$86.6B$8.1B
Dividend yield1.24%n/a
Rank by revenue in sector#55 of 444 · Finance#4 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: $12.6BSNEX FY2018: $27.6BSNEX FY2019: $32.9BSNEX FY2020: $54.1BSNEX FY2021: $42.5BSNEX FY2022: $66BSNEX FY2023: $60.9BSNEX FY2024: $99.9BSNEX FY2025: $132.4BFY18FY19FY20FY21FY22FY23FY24FY25
ICE $12.6BSNEX $132.4B
Net income
ICE FY2018: $2BICE FY2019: $1.9BICE FY2020: $2.1BICE FY2021: $4.1BICE FY2022: $1.4BICE FY2023: $2.4BICE FY2024: $2.8BICE FY2025: $3.3BSNEX FY2018: $55.5MSNEX FY2019: $85.1MSNEX FY2020: $169.6MSNEX FY2021: $116.3MSNEX FY2022: $207.1MSNEX FY2023: $238.5MSNEX FY2024: $260.8MSNEX FY2025: $305.9MFY18FY19FY20FY21FY22FY23FY24FY25
ICE $3.3BSNEX $305.9M
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%SNEX FY2018: 0.2%SNEX FY2019: 0.3%SNEX FY2020: 0.3%SNEX FY2021: 0.3%SNEX FY2022: 0.3%SNEX FY2023: 0.4%SNEX FY2024: 0.3%SNEX FY2025: 0.2%FY18FY19FY20FY21FY22FY23FY24FY25
ICE 26.2%SNEX 0.2%
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%SNEX FY2019: +19.1%SNEX FY2020: +64.6%SNEX FY2021: -21.4%SNEX FY2022: +55.3%SNEX FY2023: -7.8%SNEX FY2024: +64.1%SNEX FY2025: +32.5%FY19FY20FY21FY22FY23FY24FY25
ICE +7.5%SNEX +32.5%
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: $4.3BSNEX FY2018: -$486.1MSNEX FY2019: $183.7MSNEX FY2020: $1.9BSNEX FY2021: $2.1BSNEX FY2022: -$279MSNEX FY2023: -$70.6MSNEX FY2024: $441.7MSNEX FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
ICE $4.3BSNEX $4.3B

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

Questions about Intercontinental Exchange and StoneX

Which is bigger by revenue, Intercontinental Exchange or StoneX?

StoneX is bigger by revenue: $132.4B in fiscal 2025, against $12.6B for Intercontinental Exchange in fiscal 2025.

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

Intercontinental Exchange had a net margin of 26.2% in fiscal 2025; StoneX had 0.2% in fiscal 2025.

Which grew revenue faster, Intercontinental Exchange or StoneX?

In their latest fiscal years revenue changed by +7.5% at Intercontinental Exchange and +32.5% at StoneX.

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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