Nasdaq, Inc. (NDAQ)
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries in the United States and internationally. It operates through three segments: Capital Access Platforms, Financial Technology, and Market Services. The company distributes historical and real-time market data; develops and licenses Nasdaq-branded indices and financial products; provides investor relations intelligence, governance solutions, and sustainability solution products for public and private companies, and organizations, as well as insights and workflow solutions; and operates listing platforms. It also offers Verafin, a cloud-based platform to detect, investigate, and report money laundering and financial frauds; AxiomSL, a risk data management and regulatory reporting solution; cloud-enabled and on-premises surveillance solutions to assist in complying with market rules, regulations, and internal market surveillance policies; Calypso, a platform providing cross-asset, front-to-back trading, treasury, risk, and collateral management solutions; and trade management and colocation services, as well as handles assets comprising cash equities, equity derivatives, currencies, various interest-bearing securities, commodities, energy products, and digital currencies. In addition, the company provides equity derivative trading and clearing, cash equity trading and fixed income, currency and commodities trading, and fixed income trading and clearing services, as well as tape plan data services; operates various exchanges, including derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and offers clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.
- Symbol
- NDAQ
- Exchange
- Nasdaq
- Sector
- Financial Services
- Industry
- Financial Data & Stock Exchanges
- Market cap
- $50.76B
- 52 week range
- 76.55 - 101.79
Valuation
- Share price
- $90.33 (close of 2026-10-02)
- P/E (TTM)
- 26.11x
- Price to book
- 4.23x
- Price to free cash flow
- 26.02x
- Enterprise value
- $59.49B
- Book value per share
- $21.34
Price performance
| Period | Change |
|---|---|
| 1 day | -1.46% |
| 5 days | -3.44% |
| 1 month | -5.63% |
| 3 months | +6.70% |
| 6 months | +4.25% |
| Year to date | -7.00% |
| 1 year | +3.42% |
| 3 years | +86.56% |
| 5 years | +39.87% |
| 10 years | +301.29% |
| All time | +1706.60% |
Members of Congress who disclosed NDAQ trades
April McClain Delaney · Alan Armstrong · Jefferson Shreve
Super investors holding NDAQ
Bill Nygren (Harris Associates LP) · Ken Griffin (Citadel) · Robert Olstein (Olstein Capital Management) · Ray Dalio (Bridgewater Associates)
Profitability and growth
- Return on equity
- 14.62%
- Return on invested capital
- 9.35%
- Return on assets
- 5.76%
- Return on capital employed
- 10.09%
- Gross margin
- 63.53%
- Net margin
- 21.64%
- EBITDA margin
- 35.86%
- Revenue growth
- 11.65%
- Net income growth
- 60.07%
- Free cash flow growth
- 14.84%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.84%
- Current ratio
- 1.01x
- Net debt to EBITDA
- 2.55x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $8.26B
- Cost of revenue
- $3.01B
- Gross profit
- $5.25B
- EBITDA
- $2.96B
- Net income
- $1.79B
- Earnings per share
- $3.12
- Shares outstanding
- 573.26M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $8.26B | $5.25B | $1.79B | $3.12 |
| 2024-12-31 | $7.40B | $4.65B | $1.12B | $1.94 |
| 2023-12-31 | $6.06B | $3.90B | $1.06B | $2.10 |
| 2022-12-31 | $6.23B | $3.58B | $1.13B | $2.28 |
| 2021-12-31 | $5.89B | $3.42B | $1.19B | $2.38 |
| 2020-12-31 | $5.63B | $2.90B | $933.00M | $1.89 |
| 2019-12-31 | $4.26B | $2.54B | $774.00M | $1.56 |
| 2018-12-31 | $4.28B | $2.53B | $458.00M | $0.92 |
| 2017-12-31 | $3.95B | $2.41B | $729.00M | $1.46 |
| 2016-12-31 | $3.70B | $2.28B | $106.00M | $0.21 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 63.53% | 21.64% | 14.62% | 9.35% |
| 2024-12-31 | 62.82% | 15.09% | 9.97% | 7.15% |
| 2023-12-31 | 64.23% | 17.46% | 9.78% | 5.81% |
| 2022-12-31 | 57.53% | 18.07% | 18.25% | 10.53% |
| 2021-12-31 | 58.10% | 20.17% | 18.53% | 8.92% |
| 2020-12-31 | 51.61% | 16.59% | 14.50% | 9.88% |
| 2019-12-31 | 59.53% | 18.18% | 13.73% | 8.50% |
| 2018-12-31 | 59.06% | 10.71% | 8.41% | 5.88% |
| 2017-12-31 | 61.07% | 18.47% | 12.40% | 8.73% |
| 2016-12-31 | 61.45% | 2.86% | 1.95% | 9.38% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $604.00M | $8.57B |
| 2024-12-31 | $592.00M | $9.08B |
| 2023-12-31 | $453.00M | $10.16B |
| 2022-12-31 | $502.00M | $4.74B |
| 2021-12-31 | $393.00M | $4.81B |
| 2020-12-31 | $2.75B | $5.54B |
| 2019-12-31 | $332.00M | $3.00B |
| 2018-12-31 | $545.00M | $2.96B |
| 2017-12-31 | $377.00M | $3.73B |
| 2016-12-31 | $403.00M | $3.60B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $1.99B | $165.00M |
| 2024-12-31 | $1.73B | $141.00M |
| 2023-12-31 | $1.54B | $122.00M |
| 2022-12-31 | $1.55B | $106.00M |
| 2021-12-31 | $920.00M | $90.00M |
| 2020-12-31 | $1.06B | $87.00M |
| 2019-12-31 | $836.00M | $79.00M |
| 2018-12-31 | $917.00M | $69.00M |
| 2017-12-31 | $765.00M | $70.00M |
| 2016-12-31 | $642.00M | $86.00M |
Dividend history
- Most recent payment
- 2026-09-11
- Paid in the last twelve months
- $1.16
| Payment date | Dividend per share |
|---|---|
| 2026-09-11 | $0.31 |
| 2026-06-12 | $0.31 |
| 2026-03-16 | $0.27 |
| 2025-12-05 | $0.27 |
| 2025-09-12 | $0.27 |
| 2025-06-13 | $0.27 |
| 2025-03-14 | $0.24 |
| 2024-12-06 | $0.24 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-20
- Consensus EPS estimate
- $1.02
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-23 | Jun/2026 | $0.98 |
| 2026-04-23 | Mar/2026 | $0.93 |
| 2026-01-29 | Dec/2025 | $0.91 |
| 2025-10-21 | Sep/2025 | $0.84 |
| 2025-07-24 | Jun/2025 | $0.80 |
| 2025-04-24 | Mar/2025 | $0.77 |
| 2025-01-29 | Dec/2024 | $0.75 |
| 2024-10-24 | Sep/2024 | $0.69 |
Filings and sources
- Company website
- nasdaq.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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