Exchanges, market infrastructure, and financial data providers form a distinct corner of the financial sector: businesses that profit from market activity without taking the same directional risks as banks or asset managers. This stock comparison examines three of the largest and most influential names in that space — ICE (Intercontinental Exchange), NDAQ (Nasdaq), and SPGI (S&P Global). Growth-oriented investors, dividend seekers, and traders evaluating relative performance and market positioning may all find this comparison useful, as each company offers a distinct mix of transactional revenue, recurring data subscriptions, and long-term secular growth.
Intercontinental Exchange (ICE) operates global exchanges and clearinghouses, with dominant positions in energy and interest-rate derivatives, plus growing fixed income, data, and mortgage technology businesses. Recent quarters have been exceptionally strong: consolidated net revenues reached roughly $3.0 billion in the first quarter of 2026, up about 20% year over year, with adjusted earnings per share (EPS) rising roughly 37%. Energy revenues climbed about 46% and financials roughly 65%, reflecting elevated volatility and robust demand for risk management. The company has also expanded into private credit data and tokenized securities infrastructure. Despite these results, ICE's stock has lagged some peers over the trailing year, and it trades below its 52-week high, though recent weeks have shown renewed momentum as investors weigh its diversification into recurring revenue streams and a planned MarketAxess acquisition.
Nasdaq (NDAQ) has evolved well beyond its namesake equities exchange into a diversified technology and data provider spanning listings, indexes, market services, and financial technology. Recent quarters produced record listings activity, including the largest IPO in history, alongside milestone growth in index assets under management (AUM), which surpassed $1 trillion for the first time. Net revenue rose about 15% to $1.5 billion in the second quarter of 2026, with earnings per share up roughly 25%. Its Verafin financial-crime platform and regulatory technology have delivered double-digit growth, and the company is advancing 23/5 trading and equity tokenization initiatives. Nasdaq raised its dividend and repurchased shares, reinforcing shareholder returns. The stock has experienced volatility through 2026 but posted notable gains over the trailing three-year period, reflecting confidence in its recurring software revenue mix.
S&P Global (SPGI) is a leading provider of credit ratings, market benchmarks (including the S&P 500), commodity insights, and market intelligence. Its business skews heavily toward recurring and subscription-based revenue, which supports durability across market cycles. In the second quarter of 2026, adjusted EPS rose about 23% on roughly 11% pro forma revenue growth, led by a record Ratings division and a 20% gain in Indices. The company has aggressively integrated AI (artificial intelligence) into its data products, with customer adoption of its AI-ready tools growing rapidly. However, SPGI's stock has underperformed its peers over the past year, partly on investor concerns about AI competition in market data and a large Mobility spinoff. Management has responded by raising its 2026 share repurchase target to more than $7 billion, signaling confidence in cash flow generation.
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The three companies share high-margin, asset-light models but diverge in growth drivers and risk profiles. ICE is the most transaction-sensitive, with meaningful exposure to energy and rate volatility; its recurring data and mortgage businesses provide a stabilizing offset, though the planned MarketAxess integration adds execution risk. NDAQ blends cyclical listings and trading revenue with a fast-growing software and anti-financial-crime franchise, giving it a relatively balanced mix but also sensitivity to IPO cycles and technology competition. SPGI is the most defensive and recurring-revenue-heavy of the three, anchored by credit ratings and benchmarks, yet it faces the sharpest questions around AI-driven disruption to its data products. On valuation, SPGI and NDAQ carry premium earnings multiples relative to ICE, which trades at a lower forward price-to-earnings ratio, partly reflecting its mortgage and transaction exposure. Market sentiment has favored ICE and NDAQ in recent weeks, while SPGI's momentum has been more muted despite strong earnings.
Based on observable factors such as trend consistency, catalyst quality, and relative positioning, Tickeron's AI would likely favor ICE or NDAQ over SPGI in the current environment. ICE's record revenue growth, expanding margins, and improving recent momentum, combined with its lower relative valuation, present a compelling trend-and-value profile, while Nasdaq's strong listings pipeline and recurring software growth offer a steadier growth narrative. SPGI's fundamentals remain robust, but its weaker recent price trend and AI-related sentiment overhang introduce greater near-term uncertainty. These conclusions are probabilistic rather than definitive and may shift as new market data emerges.
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The 10-day moving average for ICE crossed bullishly above the 50-day moving average on October 19, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 9 of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 75%.
The Momentum Indicator moved above the 0 level on October 09, 2026. You may want to consider a long position or call options on ICE as a result. In 34 of 70 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 49%.
The Moving Average Convergence Divergence (MACD) for ICE just turned positive on October 09, 2026. Looking at past instances where ICE's MACD turned positive, the stock continued to rise in 21 of 44 cases over the following month. The odds of a continued upward trend are 48%.
ICE moved above its 50-day moving average on October 15, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +4.16% 3-day Advance, the price is estimated to grow further. Considering data from situations where ICE advanced for three days, in 183 of 343 cases, the price rose further within the following month. The odds of a continued upward trend are 53%.
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ICE declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 54%.
ICE broke above its upper Bollinger Band on October 22, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for ICE entered a downward trend on October 14, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is 33 (best 1 - 100 worst), indicating outstanding price growth. ICE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Profit vs. Risk Rating rating for this company is 52 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock slightly better than average.
The Tickeron SMR rating for this company is 59 (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 70 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.092) is normal, around the industry mean (4.071). P/E Ratio (22.889) is within average values for comparable stocks, (18.255). Projected Growth (PEG Ratio) (2.071) is also within normal values, averaging (1.780). Dividend Yield (0.013) settles around the average of (0.018) among similar stocks. P/S Ratio (6.553) is also within normal values, averaging (7.166).
The 10-day moving average for NDAQ crossed bullishly above the 50-day moving average on October 22, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 73%.
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on NDAQ as a result. In 46 of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 57%.
The Moving Average Convergence Divergence (MACD) for NDAQ just turned positive on October 09, 2026. Looking at past instances where NDAQ's MACD turned positive, the stock continued to rise in 31 of 44 cases over the following month. The odds of a continued upward trend are 70%.
NDAQ moved above its 50-day moving average on October 20, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +8.97% 3-day Advance, the price is estimated to grow further. Considering data from situations where NDAQ advanced for three days, in 224 of 356 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NDAQ declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 51%.
NDAQ broke above its upper Bollinger Band on October 21, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for NDAQ entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is 24 (best 1 - 100 worst), indicating outstanding price growth. NDAQ’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 24 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock better than average.
The Tickeron PE Growth Rating for this company is 50 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 52 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 88 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.782) is normal, around the industry mean (4.071). P/E Ratio (29.642) is within average values for comparable stocks, (18.255). Projected Growth (PEG Ratio) (1.712) is also within normal values, averaging (1.780). Dividend Yield (0.012) settles around the average of (0.018) among similar stocks. P/S Ratio (5.831) is also within normal values, averaging (7.166).
The Moving Average Convergence Divergence (MACD) for SPGI turned positive on October 08, 2026. Looking at past instances where SPGI's MACD turned positive, the stock continued to rise in 26 of 39 cases over the following month. The odds of a continued upward trend are 67%.
The Momentum Indicator moved above the 0 level on October 09, 2026. You may want to consider a long position or call options on SPGI as a result. In 45 of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 54%.
SPGI moved above its 50-day moving average on October 15, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SPGI crossed bullishly above the 50-day moving average on October 21, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 8 of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 57%.
The 50-day moving average for SPGI moved above the 200-day moving average on October 22, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a +3.42% 3-day Advance, the price is estimated to grow further. Considering data from situations where SPGI advanced for three days, in 191 of 350 cases, the price rose further within the following month. The odds of a continued upward trend are 55%.
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPGI declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 54%.
SPGI broke above its upper Bollinger Band on October 15, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for SPGI entered a downward trend on October 13, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is 44 (best 1 - 100 worst), indicating fairly steady price growth. SPGI’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 56 (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 73 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 80 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SPGI’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock worse than average.
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 92 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.214) is normal, around the industry mean (4.071). P/E Ratio (27.391) is within average values for comparable stocks, (18.255). Projected Growth (PEG Ratio) (1.893) is also within normal values, averaging (1.780). Dividend Yield (0.009) settles around the average of (0.018) among similar stocks. P/S Ratio (7.570) is also within normal values, averaging (7.166).
ICE | NDAQ | SPGI | ||
|---|---|---|---|---|
OUTLOOK RATING 1..100 | 18 | 50 | 15 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 85 Overvalued | 88 Overvalued | 92 Overvalued | |
PROFIT vs RISK RATING 1..100 | 52 | 24 | 80 | |
SMR RATING 1..100 | 59 | 52 | 56 | |
PRICE GROWTH RATING 1..100 | 33 | 24 | 44 | |
P/E GROWTH RATING 1..100 | 70 | 50 | 73 | |
SEASONALITY SCORE 1..100 | 50 | 85 | 85 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
ICE's Valuation (85) in the Investment Banks Or Brokers industry is in the same range as NDAQ (88) in the Investment Banks Or Brokers industry, and is in the same range as SPGI (92) in the Financial Publishing Or Services industry. This means that ICE's stock grew similarly to NDAQ’s and similarly to SPGI’s over the last 12 months.
NDAQ's Profit vs Risk Rating (24) in the Investment Banks Or Brokers industry is in the same range as ICE (52) in the Investment Banks Or Brokers industry, and is somewhat better than the same rating for SPGI (80) in the Financial Publishing Or Services industry. This means that NDAQ's stock grew similarly to ICE’s and somewhat faster than SPGI’s over the last 12 months.
NDAQ's SMR Rating (52) in the Investment Banks Or Brokers industry is in the same range as SPGI (56) in the Financial Publishing Or Services industry, and is in the same range as ICE (59) in the Investment Banks Or Brokers industry. This means that NDAQ's stock grew similarly to SPGI’s and similarly to ICE’s over the last 12 months.
NDAQ's Price Growth Rating (24) in the Investment Banks Or Brokers industry is in the same range as ICE (33) in the Investment Banks Or Brokers industry, and is in the same range as SPGI (44) in the Financial Publishing Or Services industry. This means that NDAQ's stock grew similarly to ICE’s and similarly to SPGI’s over the last 12 months.
NDAQ's P/E Growth Rating (50) in the Investment Banks Or Brokers industry is in the same range as ICE (70) in the Investment Banks Or Brokers industry, and is in the same range as SPGI (73) in the Financial Publishing Or Services industry. This means that NDAQ's stock grew similarly to ICE’s and similarly to SPGI’s over the last 12 months.
| ICE | NDAQ | SPGI | |
|---|---|---|---|
| RSI ODDS (%) | N/A | 2 days ago 55% | 2 days ago 51% |
| Stochastic ODDS (%) | 2 days ago 39% | 2 days ago 53% | 2 days ago 47% |
| Momentum ODDS (%) | 2 days ago 49% | 2 days ago 57% | 2 days ago 54% |
| MACD ODDS (%) | 2 days ago 48% | 2 days ago 70% | 2 days ago 67% |
| TrendWeek ODDS (%) | 2 days ago 52% | 2 days ago 63% | 2 days ago 56% |
| TrendMonth ODDS (%) | 2 days ago 48% | 2 days ago 62% | 2 days ago 52% |
| Advances ODDS (%) | 9 days ago 53% | 3 days ago 63% | 3 days ago 55% |
| Declines ODDS (%) | 11 days ago 54% | 11 days ago 51% | 11 days ago 54% |
| BollingerBands ODDS (%) | 2 days ago 38% | 2 days ago 55% | 2 days ago 49% |
| Aroon ODDS (%) | 2 days ago 55% | 2 days ago 51% | 2 days ago 55% |
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ICE’s FA Score shows that 1 FA rating(s) are green while NDAQ’s FA Score has 2 green FA rating(s), and SPGI’s FA Score reflects 0 green FA rating(s).
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ICE’s TA Score shows that 5 TA indicator(s) are bullish while NDAQ’s TA Score has 5 bullish TA indicator(s), and SPGI’s TA Score reflects 6 bullish TA indicator(s).
ICE (@Financial Publishing/Services) experienced а +0.73% price change this week, while NDAQ (@Financial Publishing/Services) price change was +9.14% , and SPGI (@Financial Publishing/Services) price fluctuated +4.81% for the same time period.
The average weekly price growth across all stocks in the @Financial Publishing/Services industry was +4.46%. For the same industry, the average monthly price growth was +5.74%, and the average quarterly price growth was +8.83%.
ICE is expected to report earnings on Oct 29, 2026.
NDAQ is expected to report earnings on Feb 03, 2027.
SPGI is expected to report earnings on Oct 27, 2026.
The financial publishing /services sector includes companies that provide informational products and services that are of value to investors, financial/analytics professionals and other interested readers. The products include real-time stock quotes, financial news and analyses. Think S&P Global, Inc., Moody`s Corporation, Thomson-Reuters Corp and IHS Markit Ltd. Information is critical in making financial or investment decisions, and what makes this industry’s output relevant at all times, across various economic conditions.
A.I.dvisor indicates that over the last year, ICE has been loosely correlated with SPGI. These tickers have moved in lockstep 58% of the time. This A.I.-generated data suggests there is some statistical probability that if ICE jumps, then SPGI could also see price increases.
| Ticker / NAME | Correlation To ICE | 1D Price Change % | ||
|---|---|---|---|---|
| ICE | 100% | -0.67% | ||
| SPGI - ICE | 58% Loosely correlated | -0.62% | ||
| TW - ICE | 52% Loosely correlated | +0.56% | ||
| TRU - ICE | 52% Loosely correlated | -2.37% | ||
| MCO - ICE | 51% Loosely correlated | -1.55% | ||
| MSCI - ICE | 48% Loosely correlated | -0.74% | ||
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A.I.dvisor indicates that over the last year, NDAQ has been closely correlated with JEF. These tickers have moved in lockstep 71% of the time. This A.I.-generated data suggests there is a high statistical probability that if NDAQ jumps, then JEF could also see price increases.
| Ticker / NAME | Correlation To NDAQ | 1D Price Change % | ||
|---|---|---|---|---|
| NDAQ | 100% | -0.72% | ||
| JEF - NDAQ | 71% Closely correlated | -1.86% | ||
| MS - NDAQ | 71% Closely correlated | -2.44% | ||
| GS - NDAQ | 70% Closely correlated | -1.75% | ||
| RJF - NDAQ | 69% Closely correlated | -0.94% | ||
| SF - NDAQ | 66% Closely correlated | -1.72% | ||
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