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Nasdaq, Inc. NDAQ SPX

Financial Services · Financial Data & Stock Exchanges · United States
https://www.nasdaq.com

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.

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$92.52
+12.10% 1Y

Market & Price

Market Cap
$52.32B
Current Price
$92.52
High / Low (52W)
$100.66 / $78.76
Beta
0.99

Valuation

Stock P/E
27.87
Industry PE
12.01
Forward P/E
20.89
PEG Ratio
2.25
Book Value
$21.31
Price to Book
4.34
P/S
9.66
EV/EBITDA
19.07
Dividend Yield
1.21%

Profitability & Returns

ROCE
10.82%
ROE
16.20%
ROA
5.55%
Profit Margin
35.28%
Op Margin
48.40%
EPS (Latest Qtr)
$0.91
EPS (TTM)
$3.32

Balance Sheet & Liquidity

Debt/Equity
0.79
Quick Ratio
0.34
Current Ratio
1.00
Debt
$9.52B
Total Assets
$31.05B
Current Assets
$8.00B
Working Capital
$42.00M

Ownership

Promoter Holding
10.88%
Chg in Prom Hold
-
FII / Inst Holding
85.94%
Chg in FII Hold
-0.02%

Financial Snapshot

Enterprise Value
$61.31B
Total Revenue (TTM)
$5.42B
EBITDA
$3.22B
Free Cash Flow
$1.56B
Operating Cash Flow
$2.28B
Shares Outstanding
565.54M
Gross Margin
100.00%
Payout Ratio
32.53%

Growth (CAGR)

Revenue 5Y
9.89%
Profit 5Y
16.70%
Revenue (YoY)
13.70%
Earnings (YoY)
33.80%

PROS

  • Excellent profit margin of 35.3%.
  • Profit CAGR of 16.7% over 5 years.
  • Generates positive free cash flow.

CONS

  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 NDAQ Nasdaq, Inc. SPX 92.52 27.87 $52.32B 1.21% 10.82% 16.20% 9.89% 16.70%
2 JPM JPMorgan Chase & Co. SPX 299.31 14.33 $802.00B 2.00% - 16.47% 12.50% 14.83%
3 V Visa Inc. SPX 326.36 28.48 $620.65B 0.82% 38.38% 60.35% 10.92% 10.28%
4 MA Mastercard Incorporated SPX 493.98 28.57 $436.47B 0.70% 61.47% - 13.82% 14.66%
5 MS Morgan Stanley SPX 208.00 18.84 $328.08B 1.92% - 16.39% 9.52% 15.20%
6 GS The Goldman Sachs Group, Inc. SPX 1,025.56 18.73 $302.55B 1.76% - 14.55% 7.16% 15.11%
7 WFC Wells Fargo & Company SPX 77.54 11.98 $237.29B 2.32% - 12.03% 4.02% 15.98%
8 BLK BlackRock, Inc. SPX 1,046.88 26.32 $162.51B 2.19% 4.89% 11.90% 10.65% 2.36%
9 SCHW The Charles Schwab Corporation SPX 87.35 17.37 $151.91B 1.47% - 19.08% 4.83% 7.21%
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Quarterly Results

Figures in USD.

Metric Sep 2013Mar 2014Jun 2014Sep 2014Mar 2015Jun 2015Sep 2015Mar 2016Jun 2016Sep 2016Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Mar 2019Jun 2019Sep 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue -----------994.00M965.00M1.15B1.03B964.00M1.04B1.06B1.10B1.35B1.40B1.41B1.65B1.41B1.36B1.53B1.55B1.56B1.53B1.43B1.45B1.67B1.79B--2.10B2.09B1.96B2.12B2.14B
Cost of Revenue -----------------------------------1.28B1.23B1.09B1.18B1.18B
Gross Profit 506.00M529.00M523.00M497.00M507.00M518.00M529.00M534.00M559.00M585.00M581.00M596.00M603.00M666.00M615.00M600.00M634.00M623.00M632.00M701.00M699.00M715.00M851.00M846.00M838.00M892.00M893.00M890.00M914.00M925.00M940.00M1.12B1.16B--816.00M861.00M870.00M942.00M958.00M
Operating Expenses -----------------------------------240.00M264.00M263.00M291.00M286.00M
Operating Income 202.00M184.00M191.00M207.00M27.00M217.00M231.00M219.00M174.00M233.00M246.00M242.00M262.00M273.00M269.00M246.00M275.00M256.00M226.00M275.00M315.00M326.00M365.00M376.00M356.00M405.00M412.00M398.00M412.00M382.00M431.00M410.00M423.00M--576.00M597.00M607.00M651.00M672.00M
EBITDA -----------------------------------736.00M798.00M771.00M826.00M926.00M
Interest Expense -----------------------------------92.00M92.00M84.00M85.00M84.00M
Pretax Income -----------------------------------488.00M548.00M529.00M580.00M677.00M
Tax Provision -----------------------------------93.00M96.00M106.00M62.00M158.00M
Net Income 113.00M103.00M101.00M123.00M9.00M133.00M138.00M132.00M70.00M131.00M168.00M146.00M170.00M177.00M162.00M163.00M247.00M174.00M150.00M203.00M241.00M264.00M298.00M341.00M288.00M284.00M307.00M294.00M302.00M267.00M294.00M234.00M222.00M--395.00M452.00M423.00M518.00M519.00M
Diluted EPS 0.660.590.590.710.050.770.800.780.420.770.990.871.001.050.970.971.481.040.901.221.451.581.782.050.560.570.620.590.610.540.600.400.38--0.680.780.730.900.91

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue --------3.70B3.95B4.28B4.26B5.62B-6.23B6.06B7.40B8.26B
Cost of Revenue --------------3.89B3.52B4.41B4.77B
Gross Profit 1.46B1.45B1.52B1.69B1.67B1.90B2.07B2.09B2.28B2.41B2.53B2.54B2.90B-2.34B2.55B2.99B3.49B
Operating Expenses --------------678.00M740.00M1.04B1.06B
Operating Income 640.00M603.00M631.00M696.00M690.00M688.00M754.00M720.00M836.00M991.00M1.03B1.02B1.23B-1.66B1.81B1.95B2.43B
EBITDA --------------1.85B2.00B2.46B3.13B
Interest Expense --------------120.00M272.00M398.00M354.00M
Pretax Income --------------1.48B1.40B1.45B2.15B
Tax Provision --------------352.00M344.00M334.00M358.00M
Net Income 314.00M266.00M395.00M387.00M352.00M385.00M414.00M428.00M106.00M729.00M458.00M774.00M933.00M-1.12B1.06B1.12B1.79B
Diluted EPS 1.551.251.912.152.042.252.392.500.634.302.734.631.86-2.262.081.933.09

Compounded Sales Growth

5 Years:9.89%
1 Year:13.70%

Compounded Profit Growth

5 Years:16.70%
1 Year:33.80%

Stock Price Performance

1 Year:+12.10%
6 Months:+4.43%
3 Months:+5.98%
1 Month:+1.37%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --10.72B16.21B14.09B9.13B12.56B12.07B11.86B13.41B15.35B15.70B13.92B17.98B-20.87B32.29B30.39B31.05B
Current Assets ---------------8.60B9.10B7.79B8.00B
Cash & Equivalents 1.32B374.00M594.00M315.00M506.00M497.00M398.00M427.00M301.00M403.00M377.00M545.00M332.00M2.75B-502.00M453.00M592.00M604.00M
Inventory -------------------
Receivables ---------------677.00M929.00M1.02B943.00M
Total Liabilities --5.76B11.48B9.11B3.92B6.39B6.28B6.25B8.72B9.47B10.25B8.29B11.54B-14.70B21.47B19.20B18.82B
Current Liabilities --2.85B8.23B6.04B1.02B2.80B2.98B2.92B4.08B5.23B6.57B4.23B4.92B-8.84B9.03B7.90B7.96B
Long Term Debt --1.87B2.18B2.07B1.84B2.59B2.30B2.36B3.60B3.73B2.96B3.00B5.54B-4.74B10.16B9.08B8.57B
Total Debt ---------------5.85B10.87B9.87B9.47B
Total Equity --4.93B4.72B4.98B5.21B6.18B5.79B5.61B5.43B5.88B5.45B5.64B6.43B-6.15B10.82B11.19B12.23B
Shares Outstanding ---------------513.16M598.01M598.92M594.62M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 216.00M582.00M440.00M669.00M594.00M--727.00M776.00M909.00M1.03B963.00M1.25B1.08B1.71B1.70B1.94B2.25B
Investing Cash Flow -3.15B-53.00M-118.00M-146.00M-128.00M---435.00M-1.66B-890.00M196.00M-414.00M-122.00M-2.65B49.00M-5.99B-953.00M-1.10B
Financing Cash Flow 2.03B-336.00M-595.00M-325.00M-485.00M---400.00M948.00M-53.00M-1.03B-2.47B1.91B1.42B1.04B4.22B-2.56B-2.95B
Capital Expenditure -55.00M-59.00M-42.00M-88.00M-87.00M-115.00M-140.00M-133.00M-134.00M-144.00M-111.00M-127.00M-188.00M-163.00M-152.00M-158.00M-207.00M-266.00M
Free Cash Flow 161.00M523.00M398.00M581.00M507.00M--594.00M642.00M765.00M917.00M836.00M1.06B920.00M1.55B1.54B1.73B1.99B
Net Change in Cash --------------2.79B-78.00M-1.57B-1.80B
Share Buybacks --797.00M100.00M275.00M10.00M178.00M377.00M100.00M203.00M394.00M200.00M222.00M468.00M308.00M269.00M145.00M616.00M
Dividends Paid ----65.00M87.00M98.00M149.00M200.00M243.00M280.00M305.00M320.00M350.00M383.00M441.00M541.00M601.00M

Ratios (Annual)

Figures in %.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % --------61.4%61.1%59.1%59.5%51.6%-37.6%42.0%40.4%42.2%
Operating Margin % --------22.6%25.1%24.0%23.9%21.9%-26.7%29.8%26.3%29.4%
Net Margin % --------2.9%18.5%10.7%18.2%16.6%-18.1%17.5%15.1%21.6%
ROE % -5.4%8.4%7.8%6.8%6.2%7.1%7.6%2.0%12.4%8.4%13.7%14.5%-18.3%9.8%10.0%14.6%
ROCE % -7.7%7.9%8.6%8.5%7.0%8.3%8.1%9.0%9.8%11.3%10.5%9.5%-13.8%7.8%8.7%10.5%

Shareholding Pattern

Insiders
10.88%
Institutions
85.94%
Public Float
96.43%

Top Institutional Holders

#Holder% HeldSharesValue
1 Investor AB 10.32% 58.38M $5.40B
2 Blackrock Inc. 6.75% 38.17M $3.53B
3 Wellington Management Group, LLP 6.41% 36.28M $3.36B
4 Vanguard Capital Management LLC 5.52% 31.24M $2.89B
5 Massachusetts Financial Services Co. 5.14% 29.06M $2.69B
6 Vanguard Portfolio Management LLC 4.62% 26.10M $2.42B
7 State Street Corporation 3.49% 19.71M $1.82B
8 Geode Capital Management, LLC 2.29% 12.98M $1.20B
9 Morgan Stanley 1.81% 10.26M $948.84M
10 Franklin Resources, Inc. 1.62% 9.17M $848.79M

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