Nasdaq, Inc.: stock overview

NDAQNASDAQFinancial services · Security & Commodity Brokers, Dealers, Exchanges & Services

Price

$108.47

November 13, 2026Market cap $61.7B

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  • The full history: 17 fiscal years, from 2009
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

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In short

Nasdaq had revenue of $9.1B over the last 12 months and net income of $2.1B, a net margin of 22.8%. Revenue grew by 8.0% a year on average over the last 5 years. At $108.47 the shares trade at a P/E of 29.6, against a median of 29.8 over the last 5 fiscal years. It has net debt of $8.2B. It pays a dividend yielding 1.07%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$61.7B
568M shares
P/E
29.6
Today29.6
Median29.8
Revenue, 12 months
$9.1B
+8.0% a year over 5 years
Net margin
22.8%
2025: 21.6%, above 64% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+16.7% a year over 2 years

  • 202510-K
    Revenue$8.3B
  • 202410-K
    Revenue$7.4B
  • 202310-K
    Revenue$6.1B

Fiscal years in figures

NDAQ's revenue, profit, cash flow and dividend with each year-end price, from 2009 to 2022, 14 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $44.5B
$61.7B
Enterprise value 
$69.9B
P/E 3-year median: 31.4
29.6
EV / EBIT 
25.6
EV / Revenue 
7.6
P/B 3-year median: 4.0
5.1
FCF yield 3-year median: 3.9%
3.7%
Earnings yield 3-year median: 3.2%
3.4%

Profitability

Gross margin 
63.2%
Operating margin 
29.8%
Net margin 3-year median: 17.5%
22.8%
ROIC 
10.4%
ROIC, 5-year average 
8.3%
ROE 
17.3%

Growth

Revenue, yearly change 
+11.7%
EPS, yearly change 
+60.1%
FCF, yearly change 
+14.8%
Revenue, average a year 
+8.0%
EPS, average a year 
+10.7%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$516M
Total debt 
$9.3B
Of which operating leases 
$555M
Net debt 
$8.2B
Net debt / EBITDA 
2.9x
Interest cover 
7.9x
Current ratio 
1.00

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 1.2%
1.07%
Buybacks 
1.00%
Total returned 
2.07%
Shares, yearly change 
-1.2%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 62).

Gross margin

63.5%

Above 81% of all companies (its industry has too few to compare).

Operating margin

28.2%

Above 60% of the 46 companies in its industry, and 91% of all.

Net margin

21.6%

Above 64% of the 82 companies in its industry, and 84% of all.

ROE

14.6%

Above 52% of the 74 companies in its industry, and 75% of all.

ROA

5.8%

Above 67% of the 78 companies in its industry, and 75% of all.

Revenue growth

11.7%

Above 54% of the 80 companies in its industry, and 67% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
NASDAQ, INC.
CIK
1120193
Exchange
NASDAQ
Industry (SIC)
6200 · Security & Commodity Brokers, Dealers, Exchanges & Services
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
568M

Other companies: Financial services

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The full analysis

What do Nasdaq's filings show?

These are Nasdaq's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about NDAQ

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What is NDAQ's market cap?

Nasdaq, Inc.'s market cap is $61.7B, at a price of $108.47 on November 13, 2026 and 568M shares.

What is NDAQ's P/E?

NDAQ's P/E is 29.6, on earnings per share of $3.66 over the last 12 months. The median over the last 5 fiscal years was 29.8.

How much revenue does NDAQ have?

Nasdaq had revenue of $9.1B over the last 12 months. Over the last 5 years it changed by +8.0% a year on average.

Does NDAQ pay a dividend?

Yes. Nasdaq paid $1.16 per share over the last 12 months, a yield of 1.07% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Nasdaq, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.