Nasdaq, Inc.
NASDAQ•NDAQ
CEO: Ms. Adena T. Friedman
Sector: Financial Services
Industry: Financial - Data & Stock Exchanges
Listing Date: 2002-07-01
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products. This segment also offers investor relations intelligence, governance solutions, and ESG solutions; and insights and workflow solutions, as well as operates listing platforms. The Financial Technology segment offers Verafin, a cloud-based platform to detect, investigate, and report money laundering and financial frauds; surveillance solutions, including a SaaS platform to assist in complying with market rules, regulations, and internal market surveillance policies; AxiomSL, a risk data management and regulatory reporting solution; and Calypso, a front-to-back trading technology solution for the financial market. This segment also handles assets, comprising cash equities, equity derivatives, currencies, various interest-bearing securities, commodities, energy products, and digital currencies; and trade management and colocation services. The Market Platforms segment offers equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and currency trading services. This segment operates various exchanges and other marketplace facilities across various asset classes which includes derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.
Contact Information
Market Cap
$49.02B
P/E (TTM)
27.4
31.1
Dividend Yield
1.3%
52W High
$101.79
52W Low
$64.84
52W Range
Rank37Top 34.1%
4.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$2.08B+2.46%
4-Quarter Trend
EPS
$0.91+46.77%
4-Quarter Trend
FCF
$536.00M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Net Income Rises Sharply Net income attributable $1.79B USD, up 60.1% from $1.12B USD in 2024, showing strong profitability metrics.
Core Revenue Growth Revenues less transaction-based expenses reached $5.25B USD, growing 12.9% compared to $4.65B USD last year.
Index Business Hits Record AUM Index ETP Assets Under Management reached $882B USD, an increase of $235B USD driven by strong net inflows.
Listing Leadership Maintained Maintained U.S. listing leadership; operating company IPOs raised over $24B USD proceeds during the 2025 fiscal year.
Risk Factors
Economic Volatility Impacts Volumes Declines in trading volumes due to economic weakness could negatively impact Market Services revenues and overall financial performance.
Cybersecurity and System Failure Risk Systems remain vulnerable to cyberattacks, foreign threats, and operational failures, potentially damaging reputation and causing financial losses.
Regulatory Uncertainty Poses Risk Evolving regulatory changes, especially concerning data fees and market structure, create uncertainty and may increase compliance costs.
Integration Challenges Remain Successfully integrating acquired businesses like Adenza presents complex technological and operational challenges impacting synergy realization goals.
Outlook
AI Initiatives Drive Product Focus Significant investment continues in AI, including generative AI, to enhance anti-financial crime, analytics, and internal business operations.
Extended Trading Hours Planned Nasdaq plans to launch 23-hour Global Trading Hours on the Nasdaq Stock Market in the second half of 2026.
Blockchain Asset Integration Progress Filed proposed rule change in Q3 2025 to enable trading of tokenized equity securities and ETPs on the existing platform.
Technology Modernization Via Cloud Continued strategic partnership with AWS to deploy Nasdaq Calypso as a fully managed service, enhancing architecture efficiency.
Peer Comparison
Revenue (TTM)
$15.34B
$12.64B
$8.22B
Gross Margin (Latest Quarter)
85.4%
82.6%
79.7%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| SPGI | $129.17B | 28.8 | 13.6% | 23.2% |
| CME | $112.83B | 27.9 | 14.5% | 1.9% |
| ICE | $92.08B | 27.9 | 11.6% | 14.8% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.2%
Flat Growth
4Q Net Income CAGR
9.5%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow
Deep Research
Next earnings:Apr 22, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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No Data