Last 47 quarters of trend data · Financial Services · Financial - Data & Stock Exchanges
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 30.41 | 22.14 | 23.32 | 26.98 | 30.29 | 28.66 | 27.89 | 31.68 | 34.44 | 39.64 | 39.44 | 40.38 | 20.25 | 23.08 | 22.41 | 31.95 | 24.02 | 20.50 | 26.05 | 34.31 | 28.72 |
| — | -22.7% | -16.4% | -14.8% | -12.0% | -27.7% | -29.3% | -21.5% | +70.1% | +71.8% | +76.0% | +26.4% | -15.7% | +12.6% | -14.0% | -6.9% | -16.4% | -4.8% | +25.1% | +39.6% | +48.9% | |
| P/S Ratio | 6.46 | 4.57 | 5.92 | 7.03 | 6.54 | 6.19 | 5.26 | 5.51 | 5.56 | 4.87 | 5.46 | 4.86 | 4.14 | 4.29 | 4.41 | 4.82 | 4.52 | 4.15 | 4.95 | 6.19 | 6.19 |
| — | -26.1% | +12.6% | +27.5% | +17.7% | +27.2% | -3.7% | +13.5% | +34.3% | +13.4% | +23.7% | +0.8% | -8.4% | +3.5% | -10.8% | -22.2% | -27.0% | -21.6% | +32.6% | +63.0% | +70.2% | |
| P/B Ratio | 4.43 | 3.73 | 4.03 | 4.58 | 4.26 | 4.38 | 3.80 | 4.00 | 3.82 | 3.20 | 3.38 | 2.96 | 3.71 | 3.94 | 4.38 | 4.95 | 4.78 | 4.32 | 4.95 | 5.56 | 5.17 |
| — | -14.8% | +6.0% | +14.5% | +11.6% | +37.0% | +12.6% | +35.2% | +3.0% | -18.8% | -22.9% | -40.2% | -22.5% | -8.7% | -11.5% | -11.1% | -7.5% | -1.6% | +27.2% | +61.2% | +51.3% | |
| P/FCF | 26.41 | 17.65 | 19.29 | 26.12 | 84.23 | 18.84 | 17.89 | 17.35 | 56.22 | 21.38 | 18.60 | 21.34 | 22.82 | 16.41 | 12.88 | 16.57 | 36.82 | 18.96 | 13.07 | 26.67 | 41.07 |
| — | -6.3% | +7.8% | +50.5% | +49.8% | -11.9% | -3.8% | -18.7% | +146.3% | +30.3% | +44.4% | +28.8% | -38.0% | -13.5% | -1.5% | -37.9% | -10.3% | -91.2% | -25.3% | +80.2% | — | |
| EV / EBITDA | 20.80 | 12.83 | 17.46 | 20.58 | 20.26 | 20.89 | 18.84 | 20.16 | 21.74 | 19.39 | 20.59 | 22.19 | 14.54 | 16.57 | 16.75 | 21.75 | 18.25 | 16.24 | 18.90 | 24.39 | 23.03 |
| — | -38.6% | -7.3% | +2.1% | -6.8% | +7.7% | -8.5% | -9.1% | +49.6% | +17.1% | +23.0% | +2.0% | -20.4% | +2.0% | -11.4% | -10.8% | -20.7% | -17.5% | +7.3% | +42.5% | +45.1% | |
| EV / EBIT | 26.44 | 18.78 | 25.82 | 24.63 | 24.59 | 23.70 | 22.83 | 25.21 | 28.78 | 25.38 | 28.04 | 27.62 | 14.75 | 19.96 | 18.69 | 25.38 | 20.42 | 18.14 | 22.14 | 30.31 | 24.24 |
| — | -20.8% | +13.1% | -2.3% | -14.6% | -6.6% | -18.6% | -8.8% | +95.2% | +27.2% | +50.0% | +8.8% | -27.8% | +10.0% | -15.6% | -16.2% | -15.7% | +0.4% | +23.6% | +38.0% | +53.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.9% | 59.2% | 65.8% | 66.9% | 44.4% | 41.2% | 39.0% | 40.0% | 38.6% | 41.5% | 41.9% | 44.9% | 42.2% | 41.8% | 38.8% | 37.2% | 37.4% | 37.9% | 37.8% | 38.0% | 40.8% |
| — | +43.7% | +68.6% | +67.5% | +15.1% | -0.8% | -6.8% | -11.1% | -8.7% | -0.7% | +7.9% | +20.9% | +13.0% | +10.3% | +2.7% | -2.1% | -8.3% | -4.8% | +11.2% | +4.0% | +21.0% | |
| Operating Margin | 28.4% | 34.6% | 30.7% | 30.3% | 29.9% | 27.2% | 26.2% | 25.5% | 23.6% | 23.6% | 24.5% | 21.4% | 29.7% | 26.7% | 26.9% | 22.1% | 25.6% | 26.5% | 26.4% | 23.4% | 26.2% |
| — | +27.4% | +17.5% | +18.9% | +27.1% | +15.1% | +6.9% | +18.8% | -20.7% | -11.5% | -8.9% | -2.8% | +16.2% | +0.4% | +1.9% | -5.9% | -2.6% | -0.3% | +19.3% | +7.8% | +13.7% | |
| Net Margin | 21.8% | 20.0% | 24.3% | 25.0% | 21.6% | 21.6% | 18.9% | 17.5% | 16.1% | 12.4% | 14.0% | 12.0% | 20.3% | 18.6% | 19.7% | 15.2% | 18.9% | 19.8% | 18.5% | 17.7% | 21.2% |
| — | -7.4% | +28.5% | +42.7% | +34.3% | +74.6% | +35.2% | +46.2% | -20.6% | -33.5% | -29.0% | -21.5% | +7.3% | -5.8% | +6.5% | -13.7% | -11.0% | -18.1% | +2.5% | +14.7% | +13.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.3% | 4.2% | 4.3% | 4.3% | 3.5% | 3.9% | 3.5% | 3.2% | 2.8% | 2.0% | 2.2% | 2.3% | 4.6% | 4.3% | 4.9% | 4.0% | 5.0% | 5.2% | 4.6% | 4.1% | 4.4% |
| — | +9.1% | +23.2% | +34.3% | +27.5% | +89.3% | +60.6% | +40.0% | -39.8% | -52.4% | -55.8% | -43.1% | -7.8% | -16.9% | +7.1% | -1.5% | +13.3% | -1.4% | -2.1% | +12.3% | -1.4% | |
| ROA | 5.8% | 1.9% | 1.8% | 1.7% | 1.4% | 1.5% | 1.3% | 1.2% | 1.0% | 0.7% | 0.7% | 0.7% | 1.2% | 1.2% | 1.5% | 1.1% | 1.3% | 1.4% | 1.4% | 1.3% | 1.6% |
| — | +25.3% | +37.4% | +44.4% | +37.6% | +101.7% | +73.0% | +67.5% | -14.3% | -36.2% | -48.4% | -36.8% | -8.9% | -18.7% | +4.5% | -18.2% | -18.4% | -24.4% | -15.1% | -1.9% | -11.9% | |
| ROIC | 8.1% | 3.1% | 2.3% | 2.2% | 2.0% | 2.0% | 1.9% | 1.8% | 1.6% | 1.5% | 1.4% | 1.4% | 1.9% | 2.0% | 2.6% | 2.2% | 2.5% | 2.5% | 2.4% | 2.0% | 2.1% |
| — | +54.4% | +16.5% | +18.1% | +29.0% | +33.1% | +35.2% | +32.3% | -18.7% | -25.9% | -44.9% | -37.3% | -22.5% | -20.0% | +7.2% | +8.2% | +19.8% | +13.9% | +10.9% | -4.5% | -15.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.81 | 0.77 | 0.78 | 0.81 | 0.79 | 0.81 | 0.84 | 0.88 | 0.93 | 0.94 | 0.96 | 1.00 | 1.56 | 1.66 | 0.90 | 0.95 | 0.99 | 1.06 | 1.06 | 0.97 | 1.00 |
| — | -5.4% | -6.7% | -7.9% | -14.2% | -12.9% | -12.5% | -12.2% | -40.7% | -43.6% | +7.0% | +5.8% | +57.6% | +56.8% | -15.1% | -2.2% | -0.5% | +15.7% | +6.5% | +5.3% | +50.8% | |
| Debt / EBITDA | 3.35 | 8.87 | 11.49 | 12.55 | 12.84 | 13.27 | 13.83 | 14.73 | 17.07 | 17.72 | 18.41 | 22.74 | 20.43 | 23.17 | 11.54 | 14.20 | 12.64 | 12.97 | 13.51 | 14.63 | 14.99 |
| — | -33.1% | -16.9% | -14.8% | -24.8% | -25.1% | -24.9% | -35.2% | -16.5% | -23.5% | +59.5% | +60.1% | +61.6% | +78.7% | -14.6% | -2.9% | -15.7% | -5.6% | -8.2% | -8.5% | +42.4% | |
| Current Ratio | 1.01 | 0.48 | 10.15 | 1.01 | 0.99 | 0.96 | 0.98 | 0.99 | 0.95 | 0.94 | 0.99 | 1.01 | 1.75 | 1.60 | 0.98 | 0.97 | 0.96 | 0.94 | 0.92 | 0.94 | 0.98 |
| — | -49.6% | +934.7% | +2.0% | +3.5% | +2.3% | -1.0% | -2.2% | -45.6% | -41.2% | +0.9% | +3.5% | +83.1% | +69.7% | +6.2% | +3.3% | -2.5% | -8.3% | -9.2% | -39.4% | -15.0% | |
| Quick Ratio | 1.01 | 0.48 | 10.15 | 1.01 | 0.99 | 0.96 | 0.98 | 0.99 | 0.95 | 0.94 | 0.99 | 1.01 | 1.75 | 1.60 | 0.98 | 0.97 | 0.96 | 0.94 | 0.92 | 0.94 | 0.98 |
| — | -49.6% | +934.7% | +2.0% | +3.5% | +2.3% | -1.0% | -2.2% | -45.6% | -41.2% | +0.9% | +3.5% | +83.1% | +69.7% | +6.2% | +3.3% | -2.5% | -8.3% | -9.2% | -39.4% | -15.0% | |
| Interest Coverage | 28.34 | 8.28 | 6.39 | 7.51 | — | — | — | — | — | — | — | — | — | — | — | — | — | 14.23 | 13.90 | 12.21 | 13.37 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NDAQ stock.
Nasdaq, Inc.'s current P/E is 30.4x. The average P/E over the last 4 quarters is 25.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Nasdaq, Inc.'s current operating margin is 28.4%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Nasdaq, Inc.'s business trajectory between earnings reports.