Nasdaq, Inc.

Nasdaq, Inc.

259.40
BRL
+19.40
(+8.08%)
8.79EPS
22.97P/E
230.74BMarket Cap
Feb 03Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.18
3.43
3.36
3.71
3.92
4.28
4.27
5.66
5.86
6.27
5.96
6.38
7.15
7.63
Basic EPS, GAAP
0.38
0.41
0.42
0.11
0.72
0.46
0.78
0.94
1.18
1.13
1.04
0.96
1.55
1.71
Free Cash Flow per Basic Share
0.45
0.48
0.59
0.64
0.76
0.92
0.84
1.07
0.92
1.56
1.51
1.49
1.72
1.7
Dividend per Share
0.09
0.1
0.15
0.2
0.24
0.28
0.31
0.32
0.35
0.39
0.43
0.47
0.52
0.55
Book Value per Share
6.04
5.67
5.64
5.39
5.7
5.45
5.65
6.45
6.34
6.2
9.33
9.65
10.64
10.58
Tangible Book Value per Share
-2.33
-1.78
-1.76
-2.67
-3.08
-3.22
-2.98
-2.68
-4.81
-4.57
-9.26
-8.34
-7.53
-7.48
Basic Weighted Avg Shares
1,010
1,022
1,012
999
1,007
1,000
998
995
1,004
993
1,018
1,160
1,156
1,147
Sales/Revenue/Turnover
3,211
3,500
3,403
3,704
3,948
4,277
4,258
5,625
5,886
6,226
6,064
7,400
8,262
8,751
Operating Margin (%)
23.76
23.86
26.51
25.73
26.22
24.53
25.5
23.38
26.49
26.68
29.78
26.34
29.45
30.41
Depreciation Expense
122
137
138
170
188
210
190
202
278
258
323
613
632
650
Net Income, GAAP
385
414
428
106
729
458
774
933
1,187
1,125
1,059
1,117
1,788
1,967
Effective Tax Rate (%)
36
30.47
32.22
20.3
16.4
56.95
24.04
23.02
22.62
23.86
24.55
23.05
16.69
19.35
Profit Margin (%)
11.99
11.83
12.58
2.86
18.47
10.71
18.18
16.59
20.17
18.07
17.46
15.09
21.64
22.48
Working Capital
363
420
340
478
276
-200
63
2,736
-449
-231
71
-116
42
28
LT Debt
2,589
2,297
2,364
3,603
3,727
2,956
3,327
5,930
5,198
5,187
10,580
9,469
9,035
8,974
Total Equity
6,184
5,794
5,609
5,430
5,880
5,449
5,639
6,436
6,405
6,164
10,827
11,200
12,232
11,993
Return on Invested Capital (%)
5.48
6.17
6.05
7.82
8.67
4.57
8.29
8.76
8.94
9.68
7.07
6.47
9.09
9.77
Return on Capital (%)
5.63
5.81
6.24
2.46
8.81
5.35
9.24
9.25
10.21
9.89
7.51
6.67
9.75
10.49
Return on Common Equity (%)
6.76
6.91
7.51
1.92
12.89
8.09
13.96
15.46
18.51
17.93
12.48
10.15
15.27
16.53

Capital Structure

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
431
431
269
LT Borrowings
8,573
8,526
8,492
LT Finance Leases
462
488
482
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,149
1,139
1,133
Market Capitalization
56,932
48,387
44,640

Working Capital

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
8,003
4,374
4,533
Cash, Cash Equivalents & STI
3,354
2,380
2,787
Accounts Receivable, Net
943
985
1,182
Inventories
- -
- -
- -
Total Current Liabilities
7,961
4,391
4,505
Payables & Accruals
644
454
808
ST Debt
431
431
269
Deferred Revenue
785
1,093
931

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.95%
16.81%
9.21%
Free Cash Flow
14.73%
16.36%
14.84%
Net Income, GAAP
64.66%
16.34%
60.07%
Sales/Revenue/Turnover
9.69%
8.3%
11.65%
Total Cash Common Dividend
15.25%
13.54%
11.09%

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,674
1,792
1,902
2,030
7,400
2025
2,096
2,101
1,958
2,124
8,262
2026
2,137
2,532
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.2
0.19
0.26
0.31
0.96
2025
0.34
0.39
0.37
0.45
1.55
2026
0.45
0.45
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
0.12
0.12
0.12
0.47
2025
0.12
0.13
0.13
0.13
0.52
2026
0.13
0.15
- -
- -
- -

Company Description

CEO
Adena T. Friedman
Full Time Employees
9,525
Sector
Finance
Industry
Investment banks/Brokers
Address
151 West 42nd Street New York NY United States 10036
IPO Date
Jul 8, 2002
Website
nasdaq.com
Business
Nasdaq, Inc. (NDAQ) operates as a multinational financial services corporation that owns and manages stock exchanges, provides technology solutions, data analytics, index licensing, and regulatory services to financial institutions, exchanges, corporations, and investors worldwide; its core offerings include multi-asset trading and clearing across 18 markets including the Nasdaq Stock Market in the U.S., Nasdaq Nordic and Baltic exchanges in Europe, one clearinghouse, and four central depositories hosting approximately 4,000 listings with $14 trillion in market value; investment intelligence tools for capital access and transparency; financial technology platforms such as AxiomSL for regulatory reporting, Calypso for trading and risk management, Nasdaq Verafin for financial crime detection; Nasdaq-branded indices and related financial products; corporate solutions for governance, ESG, and investor relations; as well as historical and real-time market data distribution. Founded in 1971 as the world's first electronic stock market and headquartered in New York City, the company serves banks, brokers, regulators, investment managers, and buy-side firms primarily in North America and Europe through its Nordic, Baltic, and U.S. market segments. In recent developments, Nasdaq completed its largest acquisition with Adenza in late 2023, integrating AxiomSL and Calypso to bolster financial technology capabilities and launching cross-sell initiatives targeting over $100 million in synergies by late 2027; expanded partnerships including a major regulatory technology deployment with Revolut in 2025, long-term deals with AuRep and Société Générale via AxiomSL, and an extension of its index licensing agreement with CME Group through 2039; achieved double-digit ARR growth in financial technology with new enterprise clients, 120 new signings and upsells in Q4 2024, and record index product launches including 116 in 2024 and 33 in Q2 2025; while advancing AI-powered solutions and international growth in financial crime management through Verafin.

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