Company research / NDAQ

Nasdaq, Inc. (NDAQ)

SEC name NASDAQ, INC. · CIK 0001120193 · Nasdaq · Security & Commodity Brokers, Dealers, Exchanges & Services

  • Sector Finance & Real Estate
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Nasdaq, Inc. reported revenue of $8.26B. Revenue grew 11.6% from the prior annual period.

Key ratios (year ended 2025-12-31)

63.5%
Gross margin
28.2%
Operating margin
21.6%
Net margin
14.6%
Return on year-end equity
11.6%
Revenue growth (YoY)

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Latest selected filing: Form 4 (ownership change) · 2026-10-22

Headquarters locality: New York City · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-09-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Stock splits: 3-for-1, first reflected in a filing dated 2022-11-02. Figures are as filed: per-share figures and share counts last reported before a split are on the old share basis, so changes and growth rates across a split are not shown. Splits are read from the filings' own restatements, so a share conversion in a merger or reorganization shows up the same way.

Period endedTTM to
2026-09-30
2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenuen/a$8.26B$7.40B$6.06B$6.23B$5.89B$5.62B$4.26B$4.28B$3.95B$3.70B
Cost of Revenuen/a$3.01B$2.75B$2.17B$2.64B$2.47B$2.72B$1.72B$1.75B$1.54B$1.43B
Gross Profit$5.78B$5.25B$4.65B$3.90B$3.58B$3.42B$2.90B$2.54B$2.53B$2.41B$2.28B
Operating Income$2.73B$2.33B$1.80B$1.58B$1.56B$1.44B$1.23B$1.02B$1.03B$991.00M$836.00M
Depreciation & Amortization$657.00M$632.00M$613.00M$323.00M$258.00M$278.00M$202.00M$190.00M$210.00M$188.00M$170.00M
EBITDA$3.39B$2.96B$2.41B$1.90B$1.82B$1.72B$1.44B$1.21B$1.24B$1.18B$1.01B
Net Income$2.08B$1.79B$1.12B$1.06B$1.12B$1.19B$933.00M$774.00M$458.00M$729.00M$106.00M
EPS (Diluted)n/a$3.09$1.93$2.08$2.26$2.35$1.86$4.63$2.73$4.30$0.63
Total Assets$27.38B$31.05B$30.39B$32.29B$20.87B$20.11B$17.98B$13.92B$15.70B$15.35B$13.41B
Total Liabilities$15.38B$18.82B$19.20B$21.47B$14.70B$13.71B$11.54B$8.29B$10.25B$9.47B$8.72B
Long-Term Debt$8.47B$8.57B$8.58B$9.67B$4.74B$4.31B$4.94B$3.00B$2.36B$3.13B$3.60B
Shareholders' Equity$12.00B$12.23B$11.20B$10.83B$6.16B$6.41B$6.44B$5.64B$5.45B$5.88B$5.43B
Cash & Equivalents$365.00M$604.00M$592.00M$453.00M$502.00M$393.00M$2.75B$332.00M$545.00M$377.00M$403.00M
Operating Cash Flow$2.55B$2.25B$1.94B$1.70B$1.71B$1.08B$1.25B$963.00M$1.03B$909.00M$776.00M
Capital Expenditures$288.00M$266.00M$207.00M$158.00M$152.00M$163.00M$188.00M$127.00M$111.00M$144.00M$134.00M
Free Cash Flow$2.26B$1.99B$1.73B$1.54B$1.55B$920.00M$1.06B$836.00M$917.00M$765.00M$642.00M
Share Repurchases$1.51B$616.00M$145.00M$269.00M$308.00M$468.00M$222.00M$200.00M$394.00M$203.00M$100.00M
Dividends Paid$653.00M$601.00M$541.00M$441.00M$383.00M$350.00M$320.00M$305.00M$280.00M$243.00M$200.00M
Shares Outstanding558.44M569.89M575.06M575.00M492.00M500.00M164.93M165.09M165.17M167.44M166.58M
Dividends Per Sharen/a$1.05$0.94$0.86$0.78$0.70$0.65$1.85$1.70$1.46$1.21
Weighted Average Diluted Sharesn/a578.60M579.19M508.39M497.86M505.09M500.71M166.97M167.69M169.59M168.80M
EPS (Basic)n/a$3.12$1.94$2.10$2.28$2.38$1.89$4.69$2.77$4.38$0.64

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