A Business at a Glance
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Nasdaq is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying the technology, data, and advanced analytics that enable our clients to capture opportunities, navigate risk, and strengthen We manage, operate and provide our products and services in three business segments: Capital Access Platforms, Financial Technology and Market Services. Nasdaq was founded in 1971 as a wholly-owned subsidiary of FINRA. Beginning in 2000, FINRA restructured and broadened ownership in Nasdaq by selling shares to FINRA members, investment companies and issuers listed on The Nasdaq Stock Market. In connection with this restructuring, FINRA fully divested its ownership of Nasdaq in 2006, and The Nasdaq Stock Market became an independent registered national securities exchange in 2007.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.3B | 8.3B | 7.4B | 6.1B | 6.2B | 5.9B |
| Net Income | 1.8B | 1.8B | 1.1B | 1.1B | 1.1B | 1.2B |
| EPS | $3.09 | $3.09 | $1.93 | $2.08 | $2.26 | $0.78 |
| Free Cash Flow | 2.0B | 2.0B | 1.7B | 1.5B | 1.6B | 920M |
| ROIC | 9.2% | 8.7% | 5.5% | 5.0% | 10.3% | 10.6% |
| Gross Margin | 63.5% | 63.5% | 62.8% | 64.2% | 57.5% | 58.1% |
| Debt/Equity | 0.77 | 0.77 | 0.88 | 0.99 | 0.99 | 1.07 |
| Dividends/Share | $1.04 | $1.05 | $0.94 | $0.86 | $0.78 | $0.23 |
| Operating Income | 2.3B | 2.3B | 1.8B | 1.6B | 1.6B | 1.4B |
| Operating Margin | 28.2% | 28.2% | 24.3% | 26.0% | 25.1% | 24.5% |
| ROE | 14.6% | 15.3% | 10.0% | 9.8% | 18.3% | 18.6% |
| Shares Outstanding | 579M | 579M | 579M | 509M | 498M | 1,515M |
NASDAQ, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
NASDAQ, INC. trades at 27.9x trailing earnings, compared to its 15-year median P/E of 26.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 24.6x vs a median of 18.8x. The company's 5-year average ROIC is 8.0% with a gross margin of 61.2%. Total shareholder yield (dividends + buybacks) is 2.4%. At current prices, the estimated annualized return to fair value is +10.9%.
NASDAQ, INC. (NDAQ) has a current P/E ratio of 27.9, compared to its historical median P/E of 26.9. The stock is currently considered Fair based on its historical valuation range.
NASDAQ, INC. (NDAQ) has a 5-year average return on invested capital (ROIC) of 8.0%. This is below average and may indicate limited pricing power.
NASDAQ, INC. (NDAQ) has a market capitalization of $49.8B. It is classified as a large-cap stock.
Yes, NASDAQ, INC. (NDAQ) pays a dividend with a trailing twelve-month yield of 1.21%. The company also returns capital through share buybacks, with a buyback yield of 1.24%.
Based on historical P/E analysis, NASDAQ, INC. (NDAQ) appears fair. The current P/E of 27.9 is 4% above its historical median of 26.9. The estimated fair value CAGR (P/E method) is 9.7%.
NASDAQ, INC. (NDAQ) operates in the Security & Commodity Brokers, Dealers, Exchanges & Services industry, within the Financials sector.
NASDAQ, INC. (NDAQ) reported annual revenue of $8.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
NASDAQ, INC. (NDAQ) has a net profit margin of 21.6%. This is a strong margin indicating high profitability.
NASDAQ, INC. (NDAQ) generated $2.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NASDAQ, INC. (NDAQ) has a debt-to-equity ratio of 0.77. This indicates moderate leverage.
NASDAQ, INC. (NDAQ) reported earnings per share (EPS) of $3.09 in its most recent fiscal year.
NASDAQ, INC. (NDAQ) has a return on equity (ROE) of 15.3%. This indicates the company generates strong returns for shareholders.
NASDAQ, INC. (NDAQ) has a 5-year average gross margin of 61.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for NASDAQ, INC. (NDAQ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NASDAQ, INC. (NDAQ) has a book value per share of $21.13, based on its most recent annual SEC filing.