8-K Announcements
6Apr 23, 2026·SEC
Jan 29, 2026·SEC
Jan 16, 2026·SEC
Nasdaq, Inc. (NDAQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Nasdaq, Inc. (NDAQ) stock price & volume — 10-year historical chart
Nasdaq, Inc. (NDAQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Nasdaq, Inc. (NDAQ) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 23, 2026 | $0.96vs $0.93+3.2% | $1.4Bvs $1.4B+2.6% |
| Q1 2026 | Jan 29, 2026 | $0.96vs $0.92+4.1% | $1.4Bvs $1.4B+1.9% |
| Q4 2025 | Oct 21, 2025 | $0.88vs $0.85+3.3% | $2.0Bvs $1.3B+50.2% |
| Q3 2025 | Jul 24, 2025 | $0.85vs $0.81+4.4% | $2.1Bvs $1.3B+63.6% |
Nasdaq, Inc. (NDAQ) competitors in Exchanges, Clearing and Trading Venues — business model, growth, and fundamentals comparison
Nasdaq, Inc. (NDAQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Nasdaq, Inc. (NDAQ) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 9M | 17M | 15M | 4M | 1M | 7M | 115M | 28M | -50M | -142M |
| NII Growth % | 12.5% | 88.89% | -11.76% | -73.33% | -75% | 600% | 1542.86% | -75.65% | -278.57% | -1848.86% |
| Net Interest Margin % | 0.06% | 0.11% | 0.11% | 0.02% | 0% | 0.03% | 0.36% | 0.09% | -0.16% | -0.52% |
| Interest Income | 9M | 17M | 15M | 4M | 1M | 7M | 115M | 28M | 38M | 33M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 88M | 175M |
| Loan Loss Provision | 2.37B | 2.62B | 2.59B | 3.68B | 3.65B | 3.89B | 3.52B | 4.41B | 4.19B | 3.56B |
| Non-Interest Income | 3.94B | 4.26B | 4.24B | 5.62B | 5.88B | 6.22B | 5.95B | 7.37B | 8.18B | 8.23B |
| Non-Interest Income % | 99.77% | 99.6% | 99.65% | 99.93% | 99.98% | 99.89% | 98.1% | 99.62% | 99.54% | 99.6% |
| Total Revenue | 3.95B▲ 0% | 4.28B▲ 8.3% | 4.26B▼ 0.4% | 5.63B▲ 32.1% | 5.89B▲ 4.6% | 6.23B▲ 5.8% | 6.06B▼ 2.6% | 7.4B▲ 22.0% | 8.22B▲ 11.1% | 8.27B▲ 0% |
| Revenue Growth % | 6.59% | 8.33% | -0.44% | 32.1% | 4.64% | 5.78% | -2.6% | 22.03% | 11.05% | 24.29% |
| Non-Interest Expense | 592M | 627M | 647M | 708M | 791M | 775M | 968M | 1.19B | 1.61B | 2.09B |
| Efficiency Ratio | 14.99% | 14.66% | 15.19% | 12.59% | 13.44% | 12.45% | 15.96% | 16.09% | 19.57% | 25.28% |
| Operating Income | 991M▲ 0% | 1.03B▲ 3.7% | 1.02B▼ 1.1% | 1.23B▲ 21.3% | 1.44B▲ 16.8% | 1.56B▲ 8.5% | 1.58B▲ 0.9% | 1.8B▲ 13.9% | 2.33B▲ 29.6% | 2.44B▲ 0% |
| Operating Margin % | 25.1% | 24.04% | 23.88% | 21.94% | 24.48% | 25.12% | 26.02% | 24.3% | 28.36% | 29.53% |
| Operating Income Growth % | 18.54% | 3.73% | -1.07% | 21.34% | 16.77% | 8.54% | 0.9% | 13.94% | 29.64% | - |
| Pretax Income | 872M▲ 0% | 1.06B▲ 22.0% | 1.02B▼ 4.2% | 1.21B▲ 18.9% | 1.53B▲ 26.6% | 1.48B▼ 3.8% | 1.4B▼ 5.0% | 1.45B▲ 3.4% | 2.15B▲ 48.0% | 2.33B▲ 0% |
| Pretax Margin % | 22.09% | 24.88% | 23.93% | 21.55% | 26.06% | 23.69% | 23.1% | 19.58% | 26.1% | 28.24% |
| Income Tax | 143M | 606M | 245M | 279M | 347M | 352M | 344M | 334M | 356M | 421M |
| Effective Tax Rate % | 16.4% | 56.95% | 24.04% | 23.02% | 22.62% | 23.86% | 24.55% | 23.05% | 16.6% | 18.04% |
| Net Income | 734M▲ 0% | 458M▼ 37.6% | 774M▲ 69.0% | 933M▲ 20.5% | 1.19B▲ 27.2% | 1.13B▼ 5.2% | 1.06B▼ 5.9% | 1.12B▲ 5.5% | 1.79B▲ 60.2% | 1.91B▲ 0% |
| Net Margin % | 18.59% | 10.71% | 18.18% | 16.59% | 20.17% | 18.07% | 17.46% | 15.09% | 21.77% | 23.15% |
| Net Income Growth % | 579.63% | -37.6% | 69% | 20.54% | 27.22% | -5.22% | -5.87% | 5.48% | 60.16% | 49.69% |
| Net Income (Continuing) | 729M | 458M | 774M | 933M | 1.19B | 1.12B | 1.06B | 1.11B | 1.79B | 1.91B |
| EPS (Diluted) | 1.44▲ 0% | 0.91▼ 36.8% | 1.55▲ 70.3% | 1.86▲ 20.0% | 2.35▲ 26.3% | 2.26▼ 3.8% | 2.08▼ 8.0% | 1.93▼ 7.2% | 3.09▲ 60.1% | 3.35▲ 0% |
| EPS Growth % | 585.71% | -36.81% | 70.33% | 20% | 26.34% | -3.83% | -7.96% | -7.21% | 60.1% | 50.91% |
| EPS (Basic) | 1.47 | 0.92 | 1.56 | 1.89 | 2.38 | 2.28 | 2.10 | 1.94 | 3.13 | - |
| Diluted Shares Outstanding | 508.8M | 503.1M | 500.91M | 500.71M | 505.09M | 497.86M | 508.39M | 579.2M | 576.5M | 571.7M |
Nasdaq, Inc. (NDAQ) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 612M | 813M | 623M | 2.94B | 601M | 683M | 641M | 776M | 842M | 6.13B |
| Cash & Due from Banks | 377M | 545M | 332M | 2.75B | 393M | 502M | 453M | 592M | 814M | 564M |
| Short Term Investments | 235M | 268M | 291M | 195M | 208M | 181M | 188M | 184M | 28M | 184M |
| Total Investments | 235M | 268M | 291M | 195M | 208M | 181M | 188M | 184M | 28M | 184M |
| Investments Growth % | -4.08% | 14.04% | 8.58% | -32.99% | 6.67% | -12.98% | 3.87% | -2.13% | -84.78% | 1381.18% |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivables | 356M | 384M | 422M | 566M | 588M | 677M | 929M | 1.02B | 943M | 985M |
| Goodwill & Intangibles | 9.05B | 8.66B | 8.62B | 9.11B | 11.25B | 10.68B | 21.55B | 20.86B | 20.88B | 20.68B |
| Goodwill | 6.59B | 6.36B | 6.37B | 6.85B | 8.43B | 8.1B | 14.11B | 13.96B | 14.37B | 14.31B |
| Intangible Assets | 2.47B | 2.3B | 2.25B | 2.25B | 2.81B | 2.58B | 7.44B | 6.91B | 6.51B | 6.38B |
| PP&E (Net) | 400M | 376M | 730M | 856M | 875M | 976M | 978M | 968M | 1.18B | 1.22B |
| Other Assets | -1M | 291M | 289M | 358M | 571M | 608M | 665M | 779M | 993M | 1.02B |
| Total Current Assets | 5.53B | 6.37B | 4.29B | 7.66B | 7.42B | 8.6B | 9.1B | 7.79B | 8B | 4.37B |
| Total Non-Current Assets | 10.26B | 9.33B | 9.63B | 10.32B | 12.69B | 12.26B | 23.2B | 22.61B | 23.05B | 22.93B |
| Total Assets | 15.79B▲ 0% | 15.7B▼ 0.5% | 13.92B▼ 11.3% | 17.98B▲ 29.1% | 20.11B▲ 11.9% | 20.87B▲ 3.7% | 32.29B▲ 54.8% | 30.39B▼ 5.9% | 31.05B▲ 2.2% | 27.3B▲ 0% |
| Asset Growth % | 11.56% | -0.54% | -11.31% | 29.12% | 11.88% | 3.74% | 54.75% | -5.88% | 2.16% | -7.87% |
| Return on Assets (ROA) | 4.9% | 2.91% | 5.23% | 5.85% | 6.23% | 5.49% | 3.98% | 3.56% | 5.82% | 6.41% |
| Accounts Payable | 177M | 198M | 148M | 175M | 185M | 185M | 332M | 269M | 280M | 0 |
| Total Debt | 4.21B | 3.83B | 3.72B | 5.93B | 6.22B | 5.85B | 10.87B | 9.87B | 9.93B | 9.45B |
| Net Debt | 3.83B | 3.29B | 3.39B | 3.19B | 5.82B | 5.35B | 10.42B | 9.28B | 9.11B | 8.88B |
| Long-Term Debt | 3.73B | 2.96B | 3B | 5.54B | 4.81B | 4.74B | 10.16B | 9.08B | 9.04B | 9.01B |
| Short-Term Debt | 480M | 875M | 391M | 0 | 1.02B | 664M | 291M | 399M | 431M | 431M |
| Other Liabilities | 162M | 137M | 179M | 187M | 234M | 226M | 220M | 230M | -1.01B | 0 |
| Total Current Liabilities | 5.26B | 6.57B | 4.23B | 4.92B | 7.87B | 8.84B | 9.03B | 7.9B | 7.96B | 4.39B |
| Total Non-Current Liabilities | 4.64B | 3.68B | 4.06B | 6.62B | 5.84B | 5.87B | 12.44B | 11.29B | 10.86B | 10.87B |
| Total Liabilities | 9.9B | 10.25B | 8.29B | 11.54B | 13.71B | 14.7B | 21.47B | 19.2B | 18.82B | 15.26B |
| Total Equity | 5.88B▲ 0% | 5.45B▼ 7.3% | 5.64B▲ 3.5% | 6.44B▲ 14.1% | 6.41B▼ 0.5% | 6.16B▼ 3.8% | 10.83B▲ 75.6% | 11.2B▲ 3.4% | 12.23B▲ 9.2% | 12.04B▲ 0% |
| Equity Growth % | 8.29% | -7.33% | 3.49% | 14.13% | -0.48% | -3.76% | 75.65% | 3.45% | 9.21% | 30.3% |
| Equity / Assets (Capital Ratio) | 37.25% | 34.71% | 40.5% | 35.8% | 31.84% | 29.54% | 33.53% | 36.85% | 39.39% | 44.09% |
| Return on Equity (ROE) | 12.98% | 8.09% | 13.96% | 15.45% | 18.49% | 17.9% | 12.47% | 10.14% | 15.27% | 15.9% |
| Book Value per Share | 11.56 | 10.83 | 11.26 | 12.85 | 12.68 | 12.38 | 21.30 | 19.34 | 21.22 | 21.06 |
| Tangible BV per Share | -6.24 | -6.39 | -5.94 | -5.33 | -9.58 | -9.07 | -21.10 | -16.68 | -15.00 | -15.12 |
| Common Stock | 2M | 2M | 2M | 2M | 2M | 5M | 6M | 6M | 6M | 6M |
| Additional Paid-in Capital | 3.02B | 2.72B | 2.63B | 2.55B | 1.95B | 1.45B | 5.5B | 5.53B | 5.12B | 0 |
| Retained Earnings | 3.97B | 4.56B | 5.03B | 5.63B | 6.46B | 7.21B | 7.83B | 8.4B | 9.59B | 9.95B |
| Accumulated OCI | -862M | -1.53B | -1.69B | -1.37B | -1.59B | -1.99B | -1.92B | -2.1B | -1.77B | -1.81B |
| Treasury Stock | -247M | -297M | -336M | -376M | -437M | -515M | -587M | -647M | -716M | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nasdaq, Inc. (NDAQ) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 909M | 1.03B | 963M | 1.25B | 1.08B | 1.71B | 1.7B | 1.94B | 2.25B | 2.25B |
| Operating CF Growth % | 25.9% | 13.09% | -6.32% | 30.01% | -13.5% | 57.53% | -0.59% | 14.33% | 16.3% | 45.32% |
| Net Income | 734M | 458M | 774M | 933M | 1.19B | 1.12B | 1.06B | 1.11B | 1.79B | 1.91B |
| Depreciation & Amortization | 188M | 210M | 190M | 202M | 278M | 258M | 323M | 613M | 632M | 641M |
| Deferred Taxes | 10M | 342M | 35M | 41M | 94M | 38M | 68M | -67M | 48M | 54M |
| Other Non-Cash Items | 2M | -154M | -67M | -2M | -97M | 13M | 87M | 91M | -142M | -300M |
| Working Capital Changes | -103M | 103M | -48M | -9M | -469M | 168M | 39M | 46M | -235M | -193M |
| Cash from Investing | -890M | 196M | -240M | -231M | -2.65B | 49M | -5.99B | -953M | -1.1B | -95M |
| Purchase of Investments | -392M | -421M | -579M | -283M | -316M | -322M | -712M | -206M | -243M | -304M |
| Sale/Maturity of Investments | 424M | 543M | 554M | 424M | 285M | 320M | 719M | 199M | 427M | 330M |
| Net Investment Activity | 32M | 122M | -25M | 141M | -31M | -2M | 7M | -7M | 184M | 26M |
| Acquisitions | -776M | 185M | -74M | -157M | -2.24B | -41M | -5.77B | 0 | 0 | 88M |
| Other Investing | -2M | 0 | -14M | -27M | -219M | 244M | -77M | -739M | -1.02B | 68M |
| Cash from Financing | -53M | -1.03B | -937M | 1.38B | 1.42B | 1.04B | 4.22B | -2.56B | -2.95B | -6.05B |
| Dividends Paid | -243M | -280M | -305M | -320M | -350M | -383M | -441M | -541M | -601M | -616M |
| Share Repurchases | -203M | -394M | -200M | -222M | -943M | -633M | -269M | -145M | -616M | -1.05B |
| Stock Issued | 0 | 0 | 37M | 0 | 0 | 0 | 0 | 0 | -69M | -82M |
| Net Stock Activity | -203M | -394M | -163M | -222M | -943M | -633M | -269M | -145M | -685M | -1.13B |
| Debt Issuance (Net) | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -3M |
| Other Financing | -27M | -50M | -50M | 17M | 2.33B | 2.45B | 25M | -1.06B | -841M | -3.82B |
| Net Change in Cash | -19M▲ 0% | 187M▲ 1084.2% | -224M▼ 219.8% | 2.42B▲ 1180.4% | -483M▼ 120.0% | 1.5B▲ 410.1% | 124M▼ 91.7% | -2.11B▼ 1803.2% | -1.07B▲ 49.2% | -3.6B▲ 0% |
| Exchange Rate Effect | 15M | -10M | -10M | 16M | -331M | -1.29B | 202M | -537M | 726M | 273M |
| Cash at Beginning | 418M | 399M | 586M | 362M | 5.98B | 5.5B | 6.99B | 7.12B | 5.01B | 3.93B |
| Cash at End | 399M | 586M | 362M | 2.78B | 5.5B | 6.99B | 7.12B | 5.01B | 3.93B | 1.14B |
| Interest Paid | 129M | 148M | 120M | 97M | 118M | 116M | 177M | 405M | 354M | 229M |
| Income Taxes Paid | 154M | 221M | 205M | 290M | 501M | 274M | 254M | 358M | 373M | 328M |
| Free Cash Flow | 765M▲ 0% | 917M▲ 19.9% | 836M▼ 8.8% | 1.06B▲ 27.3% | 920M▼ 13.5% | 1.55B▲ 68.9% | 1.54B▼ 1.0% | 1.73B▲ 12.6% | 1.99B▲ 14.8% | 2B▲ 0% |
| FCF Growth % | 30.1% | 19.87% | -8.83% | 27.27% | -13.53% | 68.91% | -1.03% | 12.61% | 14.84% | 8.03% |
Nasdaq, Inc. (NDAQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 12.98% | 8.09% | 13.96% | 15.45% | 18.49% | 17.9% | 12.47% | 10.14% | 15.27% | 15.9% |
| Return on Assets (ROA) | 4.9% | 2.91% | 5.23% | 5.85% | 6.23% | 5.49% | 3.98% | 3.56% | 5.82% | 6.41% |
| Net Interest Margin | 0.06% | 0.11% | 0.11% | 0.02% | 0% | 0.03% | 0.36% | 0.09% | -0.16% | -0.52% |
| Efficiency Ratio | 14.99% | 14.66% | 15.19% | 12.59% | 13.44% | 12.45% | 15.96% | 16.09% | 19.57% | 25.28% |
| Equity / Assets | 37.25% | 34.71% | 40.5% | 35.8% | 31.84% | 29.54% | 33.53% | 36.85% | 39.39% | 44.09% |
| Book Value / Share | 11.56 | 10.83 | 11.26 | 12.85 | 12.68 | 12.38 | 21.3 | 19.34 | 21.22 | 21.06 |
| NII Growth | 12.5% | 88.89% | -11.76% | -73.33% | -75% | 600% | 1542.86% | -75.65% | -278.57% | -530.3% |
| Dividend Payout | 33.11% | 61.14% | 39.41% | 34.3% | 29.49% | 34.04% | 41.64% | 48.43% | 33.59% | 24.2% |
Nasdaq, Inc. (NDAQ) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 23, 2026·SEC
Jan 29, 2026·SEC
Jan 16, 2026·SEC
Nasdaq, Inc. (NDAQ) stock FAQ — growth, dividends, profitability & financials explained
Nasdaq, Inc. (NDAQ) grew revenue by 11.1% over the past year. This is steady growth.
Yes, Nasdaq, Inc. (NDAQ) is profitable, generating $1.91B in net income for fiscal year 2025 (21.8% net margin).
Yes, Nasdaq, Inc. (NDAQ) pays a dividend with a yield of 1.17%. This makes it attractive for income-focused investors.
Nasdaq, Inc. (NDAQ) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.
Nasdaq, Inc. (NDAQ) has a net interest margin (NIM) of -0.2%. NIM has been under pressure due to interest rate environment.
Nasdaq, Inc. (NDAQ) has an efficiency ratio of 19.6%. This is excellent, indicating strong cost control.
Nasdaq, Inc. (NDAQ) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates