Intercontinental Exchange Inc (ICE) is slightly overvalued and Moody's Corp (MCO) is overvalued.
Both trade above our estimate of their intrinsic value. ICE is the closer of the two: -8%, against -63% for MCO.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.9% (average of 3 methods) values the shares at $141.52; the price of $152.93 is 8% above that value, and 76% of that value comes from beyond year five.
Leak Score 54/100 on 10 of 12 signals
Discounting its cash flows at 10.7% (average of 3 methods) values the shares at $287.91; the price of $469.25 is 63% above that value, and 71% of that value comes from beyond year five.
Leak Score 65/100 on 10 of 12 signals
| Metric | ICE | MCO |
|---|---|---|
| Verdict | Slightly overvalued | Overvalued |
| Price | $152.93 | $469.25 |
| Intrinsic value | $141.52 | $287.91 |
| Margin of safety | -8% | -63% |
| Leak Score | 54/100 (10/12) | 65/100 (10/12) |
| Market cap | $85.9B | $81.3B |
| Revenue growth, 5 years | 9.9% | 7.5% |
| Operating margin | 46.1% | 46.0% |
| Net margin | 30.7% | 34.3% |
| Return on equity | 13.9% | 80.2% |
| Debt to equity | 0.69 | 2.49 |
| P/E | 21.6x | 29.8x |
| Forward P/E | 17.4x | 24.8x |
| P/B | 2.9x | 26.9x |
| Dividend yield | 1.4% | 0.8% |