Nasdaq, Inc. (NDAQ) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NDAQ Revenue Growth
Revenue Breakdown (FY 2025)
NDAQ's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NDAQ Revenue Analysis (2014–2025)
As of May 6, 2026, Nasdaq, Inc. (NDAQ) generated trailing twelve-month (TTM) revenue of $8.27 billion, reflecting modest growth of +2.2% year-over-year. The most recent quarter (Q1 2026) recorded $2.14 billion in revenue, up 2.7% sequentially.
Looking at the longer-term picture, NDAQ's 5-year compound annual growth rate (CAGR) stands at +7.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $8.22 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows NDAQ's business is primarily driven by Market Services (51%), Capital Access Platforms (26%), and Market Technology (23%). With over half of revenue concentrated in Market Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including ICE, CME, and CBOE. Compare NDAQ vs ICE →
NDAQ Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NDAQCurrent | $8.3B | +2.2% | +7.9% | 28.4% | |
 ICE | $12.6B | - | - | 38.7% | |
 CME | $6.5B | - | - | 64.9% | |
 CBOE | $4.7B | - | - | 32.1% | |
 MKTX | $817M | - | - | 41.7% | |
 TW | $2.1B | - | - | 41.2% |
NDAQ Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $8.22B | - | $3.94B | 47.9% | $2.33B | 28.4% |
| 2024 | $7.40B | - | $2.99B | 40.4% | $1.80B | 24.3% |
| 2023 | $6.06B | - | $2.55B | 42.0% | $1.58B | 26.0% |
| 2022 | $6.23B | - | $2.34B | 37.6% | $1.56B | 25.1% |
| 2021 | $5.89B | - | $2.23B | 37.9% | $1.44B | 24.5% |
| 2020 | $5.63B | - | $1.94B | 34.5% | $1.23B | 21.9% |
| 2019 | $4.26B | - | $1.66B | 39.1% | $1.02B | 23.9% |
| 2018 | $4.28B | - | $1.66B | 38.7% | $1.03B | 24.0% |
| 2017 | $3.95B | - | $1.58B | 40.1% | $991.0M | 25.1% |
| 2016 | $3.70B | - | $1.47B | 39.6% | $836.0M | 22.6% |
Full NDAQ Stock Analysis
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Start ComparisonNDAQ — Frequently Asked Questions
Quick answers to the most common questions about buying NDAQ stock.
Is NDAQ's revenue growth accelerating or slowing?
NDAQ revenue growth slowed to +2.2%, below the 5-year CAGR of +7.9%. TTM revenue is $8.3B. The deceleration marks a shift from historical growth rates.
What is NDAQ's long-term revenue growth rate?
Nasdaq, Inc.'s 5-year revenue CAGR of +7.9% reflects the variable expansion pattern. Current YoY growth of +2.2% is near this long-term average.
How is NDAQ's revenue distributed by segment?
NDAQ reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.