Nasdaq, Inc. logo

Nasdaq, Inc.

NDAQ

NASDAQFinancial ServicesFinancial - Data & Stock Exchanges

Previous close

$98.22

+$0.67 · +0.69%

Aug 21, 4:00 PM ET

NDAQ company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

67

Undervalued

Momentum

46

Neutral

Sentiment

73

Bullish

Risk resilience

64

Moderate Risk

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Company profile

Company website

Nasdaq, Inc., a technology powerhouse founded in 1971 and based in New York City, is dedicated to supporting capital markets and various other sectors worldwide. Its Market Technology division specializes in fighting financial crime, offering products like Nasdaq Trade Surveillance, a SaaS solution that assists brokers and market participants in meeting compliance requirements and internal surveillance policies. This segment also provides Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool, and Verafin, a SaaS provider for anti-financial crime management. Furthermore, this division handles a wide array of assets, including cash equities, equity derivatives, global currencies, interest-bearing securities, commodities, energy resources, and digital currencies. The Investment Intelligence segment is responsible for distributing both historical and live market data, creating and licensing Nasdaq-branded financial indexes and products, and delivering valuable investment insights and workflow solutions. Through its Corporate Platforms, Nasdaq manages operational listing venues and furnishes specialized intelligence for investor relations, alongside comprehensive governance services. The Market Services segment covers a broad spectrum of operations, including the trading and clearing of equity derivatives, cash equities, fixed income, and commodities, in addition to providing trade management services. This division operates numerous exchanges and marketplace facilities that accommodate diverse asset classes such as derivatives, commodities, cash equity, debt, structured products, and exchange-traded products, while also offering crucial broker, clearing, settlement, and central depository functionalities. As of December 31, 2021, The Nasdaq Stock Market proudly listed 4,178 companies, specifically 1,632 on The Nasdaq Global Select Market, 1,169 on The Nasdaq Global Market, and 1,377 on The Nasdaq Capital Market. The company adopted its current name, Nasdaq, Inc., in September 2015, having previously been known as The NASDAQ OMX Group, Inc.

Industry
Financial - Data & Stock Exchanges
Sector
Financial Services
Headquarters
US
CEO
Adena T. Friedman
Listed since
Jul 1, 2002
Employees
9,630

Market position

Day range

Current $98.22

52-week range

Current $98.22

Open
$98.30
Previous close
$97.55
Volume
3.93M
1.06× average
Average volume
3.72M
Average daily volume
Market cap
54.9B USD
Beta
0.97
Market reference 1
50-day average
$90.0254
+9.10% above average
200-day average
$89.8194
+9.35% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
64.55B USD
P/E (TTM)
28.31×
P/B (TTM)
4.62×
P/S (TTM)
6.31×
EV / EBITDA
20.64×
Earnings yield
3.23%
Free cash flow yield
3.59%
Dividend yield
1.14%

Profitability & efficiency

Gross margin
59.35%
Operating margin
31.58%
Net margin
22.60%
Return on equity
14.63%
Return on assets
5.76%
Return on invested capital
8.26%

Financial health

Debt / equity
0.77×
Current ratio
1.01×
Altman Z-score
3.22
Piotroski F-score
8 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends51%38%25%12%Gross margin, FY2021: 37.92%Gross margin, FY2022: 37.57%Gross margin, FY2023: 41.99%Gross margin, FY2024: 40.39%Gross margin, FY2025: 47.93%Operating margin, FY2021: 24.48%Operating margin, FY2022: 25.12%Operating margin, FY2023: 26.02%Operating margin, FY2024: 24.30%Operating margin, FY2025: 28.36%Net margin, FY2021: 20.17%Net margin, FY2022: 18.07%Net margin, FY2023: 17.46%Net margin, FY2024: 15.09%Net margin, FY2025: 21.77%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 37.92%. Gross margin FY2022 37.57%. Gross margin FY2023 41.99%. Gross margin FY2024 40.39%. Gross margin FY2025 47.93%. Operating margin FY2021 24.48%. Operating margin FY2022 25.12%. Operating margin FY2023 26.02%. Operating margin FY2024 24.30%. Operating margin FY2025 28.36%. Net margin FY2021 20.17%. Net margin FY2022 18.07%. Net margin FY2023 17.46%. Net margin FY2024 15.09%. Net margin FY2025 21.77%.

Income trends

Revenue

8.22B USD+11.05%

Operating income

2.33B USD+29.64%

Net income

1.79B USD+60.16%
Income trends across reported periods8.93B USD6.07B USD3.21B USD343.1M USDRevenue, FY2021: 5.89B USDRevenue, FY2022: 6.23B USDRevenue, FY2023: 6.06B USDRevenue, FY2024: 7.4B USDRevenue, FY2025: 8.22B USDOperating income, FY2021: 1.44B USDOperating income, FY2022: 1.56B USDOperating income, FY2023: 1.58B USDOperating income, FY2024: 1.8B USDOperating income, FY2025: 2.33B USDNet income, FY2021: 1.19B USDNet income, FY2022: 1.13B USDNet income, FY2023: 1.06B USDNet income, FY2024: 1.12B USDNet income, FY2025: 1.79B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 5.89B USD. Revenue FY2022 6.23B USD. Revenue FY2023 6.06B USD. Revenue FY2024 7.4B USD. Revenue FY2025 8.22B USD. Operating income FY2021 1.44B USD. Operating income FY2022 1.56B USD. Operating income FY2023 1.58B USD. Operating income FY2024 1.8B USD. Operating income FY2025 2.33B USD. Net income FY2021 1.19B USD. Net income FY2022 1.13B USD. Net income FY2023 1.06B USD. Net income FY2024 1.12B USD. Net income FY2025 1.79B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue8.22B USD7.4B USD6.06B USD6.23B USD5.89B USD
Cost of goods sold4.28B USD4.41B USD3.52B USD3.89B USD3.65B USD
Gross profit3.94B USD2.99B USD2.55B USD2.34B USD2.23B USD
Selling, general, and administrative140M USD427M USD417M USD420M USD395M USD
Operating expenses1.61B USD1.19B USD968M USD775M USD791M USD
Interest income38M USD28M USD115M USD7M USD1M USD
Interest expense88M USD
Depreciation and amortization633M USD613M USD323M USD258M USD278M USD
Operating income2.33B USD1.8B USD1.58B USD1.56B USD1.44B USD
Net income1.79B USD1.12B USD1.06B USD1.13B USD1.19B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+3.85%
11 comparable reports
Latest EPS result
1.07
Estimate 0.98 · Beat by 8.74%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.110.970.840.7Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 29, 2025: actual 0.76, estimate 0.74, surprise +2.70%, Beat. Q2 2025, reported Apr 24, 2025: actual 0.79, estimate 0.771, surprise +2.46%, Beat. Q3 2025, reported Jul 24, 2025: actual 0.85, estimate 0.814, surprise +4.42%, Beat. Q4 2025, reported Oct 21, 2025: actual 0.88, estimate 0.852, surprise +3.29%, Beat. Q1 2026, reported Jan 29, 2026: actual 0.96, estimate 0.922, surprise +4.12%, Beat. Q2 2026, reported Apr 23, 2026: actual 0.96, estimate 0.93, surprise +3.23%, Beat. Q3 2026, reported Jul 23, 2026: actual 1.07, estimate 0.984, surprise +8.74%, Beat. Q4 2026, reported Oct 20, 2026: actual —, estimate 1.02, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates2.17B1.83B1.49B1.14BQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 29, 2025: actual 2.03B USD, estimate 1.23B USD, surprise +65.54%, Beat. Q2 2025, reported Apr 24, 2025: actual 2.09B USD, estimate 1.23B USD, surprise +69.84%, Beat. Q3 2025, reported Jul 24, 2025: actual 2.09B USD, estimate 1.28B USD, surprise +63.61%, Beat. Q4 2025, reported Oct 21, 2025: actual 1.96B USD, estimate 1.3B USD, surprise +50.22%, Beat. Q1 2026, reported Jan 29, 2026: actual 1.39B USD, estimate 1.37B USD, surprise +1.86%, Beat. Q2 2026, reported Apr 23, 2026: actual 1.41B USD, estimate 1.37B USD, surprise +2.65%, Beat. Q3 2026, reported Jul 23, 2026: actual 1.5B USD, estimate 1.46B USD, surprise +3.08%, Beat. Q4 2026, reported Oct 20, 2026: actual —, estimate 1.47B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$113.4

15.46% upside
Past 12 months12-month forecastHigh $120Average $113.4Low $110

Rating distribution

36 ratings
Strong buy00%
Buy2261%
Hold1336%
Sell13%
Strong sell00%

Recent analyst actions

12 institutions

NDAQ news

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.05

2025 complete year+49.3% since 2021

2026 partial: $0.58

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 11, 2026

$0.31

Quarterly

Record Sep 11, 2026 · Payment Sep 25, 2026

Dividend

Ex-dividend Jun 12, 2026

$0.31

Quarterly

Record Jun 12, 2026 · Payment Jun 26, 2026

Dividend

Ex-dividend Mar 16, 2026

$0.27

Quarterly

Record Mar 16, 2026 · Payment Mar 30, 2026

Dividend

Ex-dividend Dec 5, 2025

$0.27

Quarterly

Record Dec 5, 2025 · Payment Dec 19, 2025

Dividend

Ex-dividend Sep 12, 2025

$0.27

Quarterly

Record Sep 12, 2025 · Payment Sep 26, 2025

Dividend

Ex-dividend Jun 13, 2025

$0.27

Quarterly

Record Jun 13, 2025 · Payment Jun 27, 2025

NDAQ peers

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