<ul>
<li>想知道洲际交易所是否可能是一个隐藏的价值机会，或者它的价格是否已经反映了所有的好消息？让我们深入数字中寻找真相。</li>
<li>该股票在过去一周上涨了 1.7%。截至目前的年回报率为 4.7%，过去五年增长了 56.4%，表面之下还有更多值得关注的内容。</li>
<li>最近的头条新闻强调了洲际交易所扩展其能源期货产品线和新的战略合作伙伴关系。这两项举措突显了公司在市场动态变化中加强核心业务的努力，为市场对公司风险和增长前景的不断演变提供了重要背景。</li>
<li>在估值方面，该公司在 6 个关键指标中仅有 2 个符合被低估的标准，因此在我们的快速评估中得分为 2/6。接下来，我们将分解不同的估值方法如何看待洲际交易所，然后探索更聪明的方式来真正理解这些数字。</li>
</ul>
<p>洲际交易所在我们的估值检查中仅得分 2/6。查看我们在完整估值分析中发现的其他警示信号。</p>
<h3>方法 1：洲际交易所超额收益分析</h3>
<p>超额收益估值模型关注公司产生的利润超过其股本成本的程度，特别关注投资资本的回报率和增长预测。该方法旨在揭示企业是否持续为股东创造价值。</p>
<p>对于洲际交易所，该分析提供了以下见解：</p>
<ul>
<li>每股账面价值：$50.25</li>
<li>稳定每股收益：$7.18（来源：5 位分析师的加权未来股本回报率估计。）</li>
<li>股本成本：$4.24 每股</li>
<li>超额收益：$2.94 每股</li>
<li>平均股本回报率：14.60%</li>
<li>稳定账面价值：$49.19 每股（来源：4 位分析师的加权未来账面价值估计。）</li>
</ul>
<p>该模型估计洲际交易所的内在价值为每股$104.11。与当前股价相比，这表明该股票被高估了 50.1%。这一显著差距表明，当前市场价格可能已经反映了对未来回报的高度乐观，使得该股票相对于其基本价值显得昂贵。</p>
<p><strong>结果：被高估</strong></p>
<p>我们的超额收益分析表明洲际交易所可能被高估了 50.1%。发现 927 只被低估的股票或创建您自己的筛选器以寻找更好的价值机会。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/dcf"/></p>
<p>截至 2025 年 11 月的 ICE 折现现金流</p>
<p>前往我们公司报告的估值部分，了解我们如何得出洲际交易所的公允价值的更多细节。</p>
<h3>方法 2：洲际交易所市盈率分析</h3>
<p>市盈率（PE）是评估像洲际交易所这样成熟且盈利公司的广泛使用工具。它衡量投资者愿意为每一美元的收益支付多少，从而提供了一种简单的方法来评估一只股票是否昂贵或合理定价。</p>
<p>增长预期和感知风险在构成 “合理” 市盈率方面都起着关键作用。通常，预期增长较快或风险较低的公司会获得更高的市盈率倍数。相反，增长缓慢或风险较高的公司通常市盈率较低。</p>
<p>目前，洲际交易所的市盈率为 28.2 倍。这高于资本市场行业平均的 23.5 倍，也高于其同行组的平均值 33.3 倍。尽管这可能表明溢价估值，但这些基准并未考虑公司特定的动态。</p>
<p>Simply Wall St 的专有 “公允比率” 通过考虑增长、利润率、风险、行业驱动因素和公司规模提供了一个基准。它指示在当前条件下，洲际交易所应有的市盈率倍数。对于 ICE 而言，这一公允比率为 16.4 倍，这意味着该股票当前的市盈率显著高于其基本面和前景所合理化的水平。</p>
<p>由于实际市盈率倍数远高于公允比率，这一方法表明洲际交易所的交易价格相对于这些更深层次的质量指标而言是溢价的。</p>
<p><strong>结果：被高估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 11 月的 NYSE:ICE 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1433 家公司，内部人士正在大举押注于爆炸性增长。</p>
<h3>升级您的决策：选择您的洲际交易所叙述</h3>
<p>我们之前提到过，有一种更好的方式来理解估值，因此让我们向您介绍叙述。叙述是一种简单、易于理解的方式，可以提供您对公司的看法。将其视为数字背后的 “故事”，您可以在其中阐述对洲际交易所未来收入、收益、利润率和这些预测所合理化的公允价值的期望。</p>
<p>叙述不仅仅关注固定的估值模型，而是将您对洲际交易所业务驱动因素的看法与财务预测相连接，从而生成一个独特的公允价值估计。通过 Simply Wall St 社区页面，数百万投资者可以使用叙述，实时比较您的公允价值与当前股价，使您更容易决定何时买入或卖出。</p>
<p>叙述的一个主要优势是其动态特性。当新的信息或公司发展发生时，它们会自动更新，因此您的投资论点保持相关。例如，一位投资者可能会利用强劲的数据增长和经常性收入来支持每股 227 美元的看涨目标，而另一位则因担心竞争加剧和监管风险，预测更为谨慎的价值接近 170 美元。叙述通过向您展示您的预期与市场及其他投资者的观点如何对比，帮助您坚定信心进行投资。</p>
<p>您认为洲际交易所的故事还有更多内容吗？请前往我们的社区看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="582" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/community-fair-value"/></p>
<p>截至 2025 年 11 月的 NYSE:ICE 社区公允价值</p>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

洲际交易所

<p>洲际交易所的股票被认为是高估的，基于两种估值方法：超额收益分析和市盈率。超额收益模型估计内在价值为每股 104.11 美元，暗示高估幅度为 50.1%。28.2 倍的市盈率高于行业平均水平，表明其估值溢价。尽管近期在能源期货和战略合作伙伴关系方面有所扩展，但该股票的当前价格可能反映了对未来回报的过度乐观</p>

<ul>
<li>Wondering if Intercontinental Exchange might be a hidden value opportunity, or if its price already reflects all the good news? Let’s dig into the numbers to find out where the truth lies.</li>
<li>The stock has seen a modest 1.7% gain in the last week. With a year-to-date return of 4.7% and 56.4% growth over the past five years, there is more beneath the surface than meets the eye.</li>
<li>Recent headlines have highlighted Intercontinental Exchange’s expansion of its energy futures suite and new strategic partnerships. Both of these moves underscore the company’s efforts to strengthen its core business amid changing market dynamics, providing important context for the market’s evolving view of the company’s risk and growth prospects.</li>
<li>When it comes to valuation, the company checks the box for being undervalued on just 2 out of 6 key measures, earning it a 2/6 score in our quick view. Next, we will break down how different valuation methods look at Intercontinental Exchange before exploring the smarter way to really make sense of the numbers.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道洲际交易所是否可能是一个隐藏的价值机会，或者它的价格是否已经反映了所有的好消息？让我们深入数字中寻找真相。</li>
<li>该股票在过去一周上涨了 1.7%。截至目前的年回报率为 4.7%，过去五年增长了 56.4%，表面之下还有更多值得关注的内容。</li>
<li>最近的头条新闻强调了洲际交易所扩展其能源期货产品线和新的战略合作伙伴关系。这两项举措突显了公司在市场动态变化中加强核心业务的努力，为市场对公司风险和增长前景的不断演变提供了重要背景。</li>
<li>在估值方面，该公司在 6 个关键指标中仅有 2 个符合被低估的标准，因此在我们的快速评估中得分为 2/6。接下来，我们将分解不同的估值方法如何看待洲际交易所，然后探索更聪明的方式来真正理解这些数字。</li>
</ul>
</div><p>Intercontinental Exchange scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p>
<div class="lb-trans"><p>洲际交易所在我们的估值检查中仅得分 2/6。查看我们在完整估值分析中发现的其他警示信号。</p>
</div><h3>Approach 1: Intercontinental Exchange Excess Returns Analysis</h3>
<div class="lb-trans"><h3>方法 1：洲际交易所超额收益分析</h3>
</div><p>The Excess Returns valuation model focuses on how much profit a company generates above its cost of equity, with particular attention to return on invested capital and growth projections. This approach aims to reveal whether the business consistently creates value for shareholders from the capital invested in the company.</p>
<div class="lb-trans"><p>超额收益估值模型关注公司产生的利润超过其股本成本的程度，特别关注投资资本的回报率和增长预测。该方法旨在揭示企业是否持续为股东创造价值。</p>
</div><p>For Intercontinental Exchange, the analysis provides the following insights:</p>
<div class="lb-trans"><p>对于洲际交易所，该分析提供了以下见解：</p>
</div><ul>
<li>Book Value: $50.25 per share</li>
<li>Stable EPS: $7.18 per share (Source: Weighted future Return on Equity estimates from 5 analysts.)</li>
<li>Cost of Equity: $4.24 per share</li>
<li>Excess Return: $2.94 per share</li>
<li>Average Return on Equity: 14.60%</li>
<li>Stable Book Value: $49.19 per share (Source: Weighted future Book Value estimates from 4 analysts.)</li>
</ul>
<div class="lb-trans"><ul>
<li>每股账面价值：$50.25</li>
<li>稳定每股收益：$7.18（来源：5 位分析师的加权未来股本回报率估计。）</li>
<li>股本成本：$4.24 每股</li>
<li>超额收益：$2.94 每股</li>
<li>平均股本回报率：14.60%</li>
<li>稳定账面价值：$49.19 每股（来源：4 位分析师的加权未来账面价值估计。）</li>
</ul>
</div><p>This model estimates the intrinsic value of Intercontinental Exchange at $104.11 per share. Compared to the current share price, this suggests the stock is 50.1% overvalued. This significant gap indicates that the current market price may already reflect a high level of optimism about future returns, placing the shares on the expensive side relative to their fundamental value.</p>
<div class="lb-trans"><p>该模型估计洲际交易所的内在价值为每股$104.11。与当前股价相比，这表明该股票被高估了 50.1%。这一显著差距表明，当前市场价格可能已经反映了对未来回报的高度乐观，使得该股票相对于其基本价值显得昂贵。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p>Our Excess Returns analysis suggests Intercontinental Exchange may be overvalued by 50.1%. Discover 927 undervalued stocks or create your own screener to find better value opportunities.</p>
<div class="lb-trans"><p>我们的超额收益分析表明洲际交易所可能被高估了 50.1%。发现 927 只被低估的股票或创建您自己的筛选器以寻找更好的价值机会。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/dcf" alt="" original-src="https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/dcf"/></p>
<p>ICE Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 ICE 折现现金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Intercontinental Exchange.</p>
<div class="lb-trans"><p>前往我们公司报告的估值部分，了解我们如何得出洲际交易所的公允价值的更多细节。</p>
</div><h3>Approach 2: Intercontinental Exchange Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：洲际交易所市盈率分析</h3>
</div><p>The Price-to-Earnings (PE) ratio is a widely used tool to value established, profitable companies like Intercontinental Exchange. It gauges how much investors are willing to pay per dollar of earnings, offering a straightforward way to assess whether a stock is expensive or reasonably priced given its profit generation.</p>
<div class="lb-trans"><p>市盈率（PE）是评估像洲际交易所这样成熟且盈利公司的广泛使用工具。它衡量投资者愿意为每一美元的收益支付多少，从而提供了一种简单的方法来评估一只股票是否昂贵或合理定价。</p>
</div><p>Growth expectations and perceived risks both play critical roles in what constitutes a “fair” PE ratio. Typically, companies with faster expected growth or lower risks command higher PE multiples. In contrast, slower-growing or riskier firms often have a lower ratio.</p>
<div class="lb-trans"><p>增长预期和感知风险在构成 “合理” 市盈率方面都起着关键作用。通常，预期增长较快或风险较低的公司会获得更高的市盈率倍数。相反，增长缓慢或风险较高的公司通常市盈率较低。</p>
</div><p>Currently, Intercontinental Exchange trades at a PE ratio of 28.2x. This is higher than the Capital Markets industry average of 23.5x and also above its peer group average of 33.3x. Although this may suggest a premium valuation, these benchmarks do not account for company-specific dynamics.</p>
<div class="lb-trans"><p>目前，洲际交易所的市盈率为 28.2 倍。这高于资本市场行业平均的 23.5 倍，也高于其同行组的平均值 33.3 倍。尽管这可能表明溢价估值，但这些基准并未考虑公司特定的动态。</p>
</div><p>Simply Wall St’s proprietary “Fair Ratio” offers a benchmark by taking into account growth, profit margins, risk, industry drivers, and company size. It indicates the PE multiple Intercontinental Exchange would be expected to have under current conditions. For ICE, this Fair Ratio is 16.4x, meaning the stock’s current PE is significantly above the level justified by its fundamentals and outlook.</p>
<div class="lb-trans"><p>Simply Wall St 的专有 “公允比率” 通过考虑增长、利润率、风险、行业驱动因素和公司规模提供了一个基准。它指示在当前条件下，洲际交易所应有的市盈率倍数。对于 ICE 而言，这一公允比率为 16.4 倍，这意味着该股票当前的市盈率显著高于其基本面和前景所合理化的水平。</p>
</div><p>Because the actual PE multiple is well above the Fair Ratio, this approach suggests that Intercontinental Exchange is trading at a premium relative to what would be considered fair value by these deeper-quality measures.</p>
<div class="lb-trans"><p>由于实际市盈率倍数远高于公允比率，这一方法表明洲际交易所的交易价格相对于这些更深层次的质量指标而言是溢价的。</p>
</div><p><strong>Result: OVERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被高估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:ICE PE Ratio as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NYSE:ICE 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1433 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1433 家公司，内部人士正在大举押注于爆炸性增长。</p>
</div><h3>Upgrade Your Decision Making: Choose your Intercontinental Exchange Narrative</h3>
<div class="lb-trans"><h3>升级您的决策：选择您的洲际交易所叙述</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let's introduce you to Narratives. Narratives are a simple, accessible way to provide your own perspective on a company. Think of them as the “story” behind the numbers, where you set out your expectations for Intercontinental Exchange’s future revenue, earnings, profit margins, and the fair value those forecasts justify.</p>
<div class="lb-trans"><p>我们之前提到过，有一种更好的方式来理解估值，因此让我们向您介绍叙述。叙述是一种简单、易于理解的方式，可以提供您对公司的看法。将其视为数字背后的 “故事”，您可以在其中阐述对洲际交易所未来收入、收益、利润率和这些预测所合理化的公允价值的期望。</p>
</div><p>Rather than focusing only on fixed valuation models, Narratives connect what you believe about Intercontinental Exchange’s business drivers to a financial forecast, which then generates a fair value estimate unique to your view. Available to millions of investors through the Simply Wall St Community page, Narratives empower you to compare your fair value with the current share price in real time, making it easier to decide when to buy or sell.</p>
<div class="lb-trans"><p>叙述不仅仅关注固定的估值模型，而是将您对洲际交易所业务驱动因素的看法与财务预测相连接，从而生成一个独特的公允价值估计。通过 Simply Wall St 社区页面，数百万投资者可以使用叙述，实时比较您的公允价值与当前股价，使您更容易决定何时买入或卖出。</p>
</div><p>A major strength of Narratives is their dynamic nature. They update automatically when new information or company developments occur, so your investment thesis stays relevant. For example, one investor might use strong data growth and recurring revenues to support a bullish price target of $227 per share, while another, concerned about rising competition and regulatory risk, projects a more cautious value near $170. Narratives help you invest with conviction by showing you exactly how your expectations stack up against the market and other investors’ perspectives.</p>
<div class="lb-trans"><p>叙述的一个主要优势是其动态特性。当新的信息或公司发展发生时，它们会自动更新，因此您的投资论点保持相关。例如，一位投资者可能会利用强劲的数据增长和经常性收入来支持每股 227 美元的看涨目标，而另一位则因担心竞争加剧和监管风险，预测更为谨慎的价值接近 170 美元。叙述通过向您展示您的预期与市场及其他投资者的观点如何对比，帮助您坚定信心进行投资。</p>
</div><p>Do you think there's more to the story for Intercontinental Exchange? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您认为洲际交易所的故事还有更多内容吗？请前往我们的社区看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/community-fair-value" alt="" original-src="https://images.simplywall.st/company/3926e559-0194-4bf5-8d53-95cad79d51a9/chart/community-fair-value"/></p>
<p>NYSE:ICE Community Fair Values as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NYSE:ICE 社区公允价值</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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在最近的能源期货扩展之后，洲际交易所的股票定价是否合理？