Intercontinental Exchange (ICE) vs Tradeweb Markets (TW)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Tradeweb Markets (TW) has outperformed Intercontinental Exchange (ICE) over the past year, gaining 2.7% versus a loss of 5.8%. Over five years, TW leads with a +28.7% price change compared with +17.9% for ICE. Intercontinental Exchange is the larger company by market cap ($85.66 billion vs $23.20 billion), about 3.7 times the size, while Tradeweb Markets is growing revenue faster (+18.9% vs +7.5%).
On valuation, Intercontinental Exchange trades at a lower forward P/E (17.3x vs 23.2x for Tradeweb Markets). Intercontinental Exchange offers the higher dividend yield (1.31% vs 0.48%). Tradeweb Markets converts more of its revenue into profit, with a net margin of 39.6% versus 26.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ICE | TW |
|---|---|---|
| Share price | $152.59 | $107.40 |
| Market cap | $85.66B | $23.20B |
| 1-day change | -0.59% | -0.13% |
| YTD return | -5.79% | -0.13% |
| 1-year return | -5.80% | +2.69% |
| 5-year return | +17.93% | +28.65% |
| P/E ratio (TTM) | 21.64 | 25.76 |
| Forward P/E | 17.27 | 23.21 |
| EPS (TTM) | $7.05 | $4.17 |
| Dividend yield | 1.31% | 0.48% |
| Annual dividend | $2.00 | $0.52 |
| Revenue (latest FY) | $12.64B | $2.05B |
| Revenue growth (YoY) | +7.47% | +18.92% |
| Net income (latest FY) | $3.31B | $812.79M |
| Operating margin | 39.00% | 40.70% |
| Net margin | 26.23% | 39.60% |
| 52-week high | $176.05 | $127.69 |
| 52-week low | $121.79 | $91.42 |
| Distance from 52-week high | -13.33% | -15.89% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +21.55% | +15.02% |
| Average volume | 3.45M | 1.42M |
| Shares outstanding | 561.39M | 114.04M |
| Employees | 12,725 | 1,613 |
| Sector | Finance | Finance |
| Industry | Investment Bankers/Brokers/Service | Investment Bankers/Brokers/Service |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Intercontinental Exchange is about 3.7 times larger than Tradeweb Markets by market value ($85.66B vs $23.20B).
- Tradeweb Markets is more profitable, keeping 39.6 cents of every revenue dollar as net income versus 26.2 cents for Intercontinental Exchange.
- Tradeweb Markets grew revenue faster in its latest fiscal year (+18.92% vs +7.47%).
About Intercontinental Exchange
ICE stock →Intercontinental Exchange, Inc., together with its subsidiaries, provides technology and data to financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Canada, Asia Pacific, and the Middle East. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
Finance · Investment Bankers/Brokers/Service · 12,725 employees
About Tradeweb Markets
TW stock →Tradeweb Markets Inc. builds and operates electronic marketplaces in the United States and internationally.
Finance · Investment Bankers/Brokers/Service · 1,613 employees
ICE vs TW FAQ
Which is bigger, Intercontinental Exchange or Tradeweb Markets?
Intercontinental Exchange (ICE) is larger, with a market capitalization of $85.66B compared with $23.20B for Tradeweb Markets (TW).
Which stock has performed better over the past year, ICE or TW?
TW returned +2.69% over the past 12 months, compared with -5.80% for ICE (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ICE or TW?
ICE has the lower trailing P/E at 21.6, versus 25.8 for TW. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Intercontinental Exchange or Tradeweb Markets?
Intercontinental Exchange has the higher yield at 1.31%, compared with 0.48% for Tradeweb Markets.
Are Intercontinental Exchange and Tradeweb Markets in the same industry?
Yes. Both are classified in the Investment Bankers/Brokers/Service industry within the Finance sector.