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Nasdaq, Inc. (NDAQ)
Financial Services · Financial Data & Stock Exchanges · NasdaqGS
Nasdaq, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.70B | $3.95B | $4.28B | $4.26B | $5.63B | $5.89B | $3.58B | $3.90B | $4.68B | $5.25B |
| Gross profit | $2.28B | $2.41B | $2.53B | $2.54B | $2.90B | $3.42B | $3.58B | $3.90B | $4.65B | $5.25B |
| Net income | $106.00M | $729.00M | $458.00M | $774.00M | $933.00M | $1.19B | $1.13B | $1.06B | $1.12B | $1.79B |
| Net margin | 2.9% | 18.5% | 10.7% | 18.2% | 16.6% | 20.2% | 31.4% | 27.2% | 23.9% | 34.1% |
Source: Nasdaq, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
What growth is priced into NDAQ stock?
At today's market cap of $49.50B, Nasdaq, Inc. is priced for free-cash-flow growth of about 10.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.99B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 13.3%/yr over the last five fiscal years and revenue -1.4%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Nasdaq, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Nasdaq, Inc. financial history by metric
About Nasdaq, Inc.
Nasdaq, Inc. operates as a technology company that serves capital markets and other industries in the United States and internationally. It operates through three segments: Capital Access Platforms, Financial Technology, and Market Services. The company distributes historical and real-time market data; develops and licenses Nasdaq-branded indices and financial products; provides investor relations intelligence, governance solutions, and sustainability solution products for public and private companies, and organizations, as well as insights and workflow solutions; and operates listing platforms. It also offers Verafin, a cloud-based platform to detect, investigate, and report money laundering and financial frauds; AxiomSL, a risk data management and regulatory reporting solution; cloud-enabled and on-premises surveillance solutions to assist in complying with market rules, regulations, and internal market surveillance policies; Calypso, a platform providing cross-asset, front-to-back trading, treasury, risk, and collateral management solutions; and trade management and colocation services, as well as handles assets comprising cash equities, equity derivatives, currencies, various interest-bearing securities, commodities, energy products, and digital currencies. In addition, the company provides equity derivative trading and clearing, cash equity trading and fixed income, currency and commodities trading, and fixed income trading and clearing services, as well as tape plan data services; operates various exchanges, including derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and offers 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.
Nasdaq, Inc. — frequently asked questions
What is Nasdaq, Inc.'s revenue?
Nasdaq, Inc. (NDAQ) reported revenue of $5.25B for fiscal year 2025, up 12.1% from the prior year, according to its SEC filings.
Is Nasdaq, Inc. profitable?
Yes. NDAQ earned net income of $1.79B in fiscal 2025, a net margin of 34.1%.
What is NDAQ's P/E ratio?
Nasdaq, Inc. trades at a price-to-earnings ratio of about 26.4 based on the latest data in our nightly-refreshed cache.
How fast is Nasdaq, Inc. growing?
NDAQ's revenue grew at roughly -1.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Nasdaq, Inc. have?
As of fiscal year 2025, NDAQ carried roughly $9.00B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Nasdaq, Inc.'s gross margin?
NDAQ's gross margin was 100.0% in fiscal 2025 — gross profit of $5.25B on revenue of $5.25B.
What is Nasdaq, Inc.'s market cap?
Nasdaq, Inc. (NDAQ) has a market capitalization of about $49.50B, based on the latest data in our nightly-refreshed cache.
When does Nasdaq, Inc.'s fiscal year end?
NDAQ's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into NDAQ stock?
At today's market cap of $49.50B, Nasdaq, Inc. is priced for free-cash-flow growth of about 10.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.99B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 13.3%/yr over the last five fiscal years and revenue -1.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Nasdaq, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.