Financial Services · Financial - Data & Stock Exchanges
Price
$88.08
Market Cap
$49.8B
Employees
9,377
Beta
1.00
Avg Volume
3,866,434
CEO
Adena T. Friedman
Nasdaq, Inc., a technology powerhouse founded in 1971 and based in New York City, is dedicated to supporting capital markets and various other sectors worldwide. Its Market Technology division specializes in fighting financial crime, offering products like Nasdaq Trade Surveillance, a SaaS solution that assists brokers and market participants in meeting compliance requirements and internal surveillance policies. This segment also provides Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool, and Verafin, a SaaS provider for anti-financial crime management. Furthermore, this division handles a wide array of assets, including cash equities, equity derivatives, global currencies, interest-bearing securities, commodities, energy resources, and digital currencies. The Investment Intelligence segment is responsible for distributing both historical and live market data, creating and licensing Nasdaq-branded financial indexes and products, and delivering valuable investment insights and workflow solutions. Through its Corporate Platforms, Nasdaq manages operational listing venues and furnishes specialized intelligence for investor relations, alongside comprehensive governance services. The Market Services segment covers a broad spectrum of operations, including the trading and clearing of equity derivatives, cash equities, fixed income, and commodities, in addition to providing trade management services. This division operates numerous exchanges and marketplace facilities that accommodate diverse asset classes such as derivatives, commodities, cash equity, debt, structured products, and exchange-traded products, while also offering crucial broker, clearing, settlement, and central depository functionalities. As of December 31, 2021, The Nasdaq Stock Market proudly listed 4,178 companies, specifically 1,632 on The Nasdaq Global Select Market, 1,169 on The Nasdaq Global Market, and 1,377 on The Nasdaq Capital Market. The company adopted its current name, Nasdaq, Inc., in September 2015, having previously been known as The NASDAQ OMX Group, Inc.
Runs with full report
Price Overview
Last updated: Jul 11, 2026 4:45am (just now)
Current data · timestamped when a report runs
$88.08
Change · Jul 11
+0.56 (+0.64%)
Day Range
$87.46 – $89.37
52-Week Range
$76.55 – $101.79
50-Day MA
$87.58
200-Day MA
$88.94
Volume
2,607,313.00
Analyst Price Targets
Low
$110.00
Consensus
$113.60
High
$120.00
(49 analysts)
Share Structure
Outstanding
565,541,000.00
Float
444,800,258.00
Free Float
78.7%
Normal free float
— 78.7% of shares trade freely, ~21.3% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
26.10
Stock Price: $88.08
EPS (Diluted): 3.13
EPS (Diluted): 3.13
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.53
Stock Price: $88.08
Total Equity: $12.23B
Shares: 576,500,000
Total Equity: $12.23B
Shares: 576,500,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
18.86
Market Cap: $49.81B
Total Debt: $9.47B
Cash: $814.00M
EBITDA: $3.13B
Total Debt: $9.47B
Cash: $814.00M
EBITDA: $3.13B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$64.5B
Market Cap: $49.81B
Total Debt: $9.47B
Cash: $814.00M
Total Debt: $9.47B
Cash: $814.00M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
47.9%
Gross Profit: $3.94B
Revenue: $8.22B
Revenue: $8.22B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
28.4%
Operating Income: $2.33B
Revenue: $8.22B
Revenue: $8.22B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
21.8%
Net Income: $1.79B
Revenue: $8.22B
Revenue: $8.22B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
15.9%
Net Income: $1.79B
Total Equity: $12.23B
Total Equity: $12.23B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
7.3%
Operating Income: $2.33B
Tax Rate: 16.6%
Equity: $12.23B
Total Debt: $9.47B
Cash: $814.00M
Tax Rate: 16.6%
Equity: $12.23B
Total Debt: $9.47B
Cash: $814.00M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.01
Current Assets: $8.00B
Current Liabilities: $7.96B
Current Liabilities: $7.96B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.77
Short-Term Debt: $431.00M
Long-Term Debt: $9.04B
Total Debt: $9.47B
Total Equity: $12.23B
Long-Term Debt: $9.04B
Total Debt: $9.47B
Total Equity: $12.23B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$14.25
Revenue: $8.22B
Shares: 576,500,000
Shares: 576,500,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$21.21
Total Equity: $12.23B
Shares: 576,500,000
Shares: 576,500,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$3.45
Operating CF: $2.26B
CapEx: -$266.00M
Shares: 576,500,000
CapEx: -$266.00M
Shares: 576,500,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.1%
Last Dividend: N/A
Stock Price: $88.08
Stock Price: $88.08
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.79B
Net Income: $1.79B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares NDAQ against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 11, 2026 4:45am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $5.9B | $6.2B | $6.1B | $7.4B | $8.2B |
| Cost of Revenue | $3.7B | $3.9B | $3.5B | $4.4B | $4.3B |
| Gross Profit | $2.2B | $2.3B | $2.5B | $3.0B | $3.9B |
| Operating Expenses | $791.0M | $775.0M | $968.0M | $1.2B | $1.6B |
| Operating Income | $1.4B | $1.6B | $1.6B | $1.8B | $2.3B |
| Net Income | $1.2B | $1.1B | $1.1B | $1.1B | $1.8B |
| EBITDA | $1.9B | $1.9B | $2.0B | $2.5B | $3.1B |
| EPS | $2.38 | $2.28 | $2.10 | $1.94 | $3.13 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 11, 2026 4:45am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $393.0M | $502.0M | $453.0M | $592.0M | $814.0M |
| Total Current Assets | $7.4B | $8.6B | $9.1B | $7.8B | $8.0B |
| Total Assets | $20.1B | $20.9B | $32.3B | $30.4B | $31.1B |
| Current Liabilities | $7.9B | $8.8B | $9.0B | $7.9B | $8.0B |
| Long-Term Debt | $4.8B | $4.7B | $10.2B | $9.1B | $9.0B |
| Total Liabilities | $13.7B | $14.7B | $21.5B | $19.2B | $18.8B |
| Total Equity | $6.4B | $6.2B | $10.8B | $11.2B | $12.2B |
| Retained Earnings | $6.5B | $7.2B | $7.8B | $8.4B | $9.6B |
Cash Flow (Annual)
Last updated: Jul 11, 2026 4:45am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B | $1.7B | $1.7B | $1.9B | $2.3B |
| Capital Expenditure | -$163.0M | -$152.0M | -$158.0M | -$207.0M | -$266.0M |
| Free Cash Flow | $920.0M | $1.6B | $1.5B | $1.7B | $2.0B |
| Acquisitions (net) | -$2.2B | -$41.0M | -$5.8B | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$943.0M | -$633.0M | -$269.0M | -$145.0M | -$616.0M |
| Net Change in Cash | -$483.0M | $1.5B | $124.0M | -$2.1B | -$1.1B |
Analyst Estimates (Annual)
Last updated: Jul 11, 2026 4:45am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$6.3B $6.0B – $6.4B
|
$6.8B $6.8B – $6.8B
|
$7.3B $7.1B – $7.4B
|
$7.4B $7.2B – $7.5B
|
| EBITDA |
$2.1B $2.0B – $2.1B
|
$2.3B $2.3B – $2.3B
|
$2.4B $2.4B – $2.5B
|
$2.5B $2.4B – $2.5B
|
| Net Income |
$2.1B $2.1B – $2.7B
|
$3.0B $2.7B – $3.2B
|
$3.3B $3.2B – $3.3B
|
$3.5B $3.4B – $3.6B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 11, 2026 4:45am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +5.8% | -2.6% | +22.0% | +11.1% |
| Gross Profit Growth | +4.8% | +8.8% | +17.4% | +31.8% |
| Operating Income Growth | +8.5% | +0.9% | +13.9% | +29.6% |
| Net Income Growth | -5.2% | -5.9% | +5.5% | +60.2% |
| EBITDA Growth | -3.8% | +7.7% | +23.2% | +27.1% |
Dividend History (Last 20)
Last updated: Jul 11, 2026 4:45am (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-12 | $0.31 | 2026-04-23 | 2026-06-12 | 2026-06-26 |
| 2026-03-16 | $0.27 | 2026-01-29 | 2026-03-16 | 2026-03-30 |
| 2025-12-05 | $0.27 | 2025-10-21 | 2025-12-05 | 2025-12-19 |
| 2025-09-12 | $0.27 | 2025-07-24 | 2025-09-12 | 2025-09-26 |
| 2025-06-13 | $0.27 | 2025-04-24 | 2025-06-13 | 2025-06-27 |
| 2025-03-14 | $0.24 | 2025-01-29 | 2025-03-14 | 2025-03-28 |
| 2024-12-06 | $0.24 | 2024-10-24 | 2024-12-06 | 2024-12-20 |
| 2024-09-13 | $0.24 | 2024-07-25 | 2024-09-13 | 2024-09-27 |
| 2024-06-14 | $0.24 | 2024-04-25 | 2024-06-14 | 2024-06-28 |
| 2024-03-13 | $0.22 | 2024-01-31 | 2024-03-18 | 2024-03-28 |
| 2023-12-07 | $0.22 | 2023-10-18 | 2023-12-08 | 2023-12-22 |
| 2023-09-14 | $0.22 | 2023-07-19 | 2023-09-15 | 2023-09-29 |
| 2023-06-15 | $0.22 | 2023-04-19 | 2023-06-16 | 2023-06-30 |
| 2023-03-16 | $0.20 | 2023-01-25 | 2023-03-17 | 2023-03-31 |
| 2022-12-01 | $0.20 | 2022-10-19 | 2022-12-02 | 2022-12-16 |
| 2022-09-15 | $0.20 | 2022-07-20 | 2022-09-16 | 2022-09-30 |
| 2022-06-09 | $0.60 | 2022-04-20 | 2022-06-10 | 2022-06-24 |
| 2022-03-10 | $0.54 | 2022-01-26 | 2022-03-11 | 2022-03-25 |
| 2021-12-02 | $0.54 | 2021-10-20 | 2021-12-03 | 2021-12-17 |
| 2021-09-09 | $0.54 | 2021-07-21 | 2021-09-10 | 2021-09-24 |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-01 | Smith Bryan Everard | S-Sale | 3,000.00 | $80.00 | $240,000 |
| 2026-06-11 | INVESTOR AB | P-Purchase | 56,782.00 | $85.98 | $4.9M |
| 2026-06-11 | Smith Bryan Everard | S-Sale | 3,000.00 | $86.91 | $260,730 |
| 2026-06-10 | SPAHT PAUL HOLDEN JR. | A-Award | 2,998.00 | $0.00 | $0 |
| 2026-06-10 | YABUKI JEFFERY W | A-Award | 4,612.00 | $0.00 | $0 |
| 2026-06-10 | BEGLEY CHARLENE T | A-Award | 2,998.00 | $0.00 | $0 |
| 2026-06-10 | Koch Kathryn A. | A-Award | 3,171.00 | $0.00 | $0 |
| 2026-06-10 | ZOLLAR ALFRED W | A-Award | 4,497.00 | $0.00 | $0 |
| 2026-06-10 | KLOET THOMAS A | A-Award | 4,554.00 | $0.00 | $0 |
| 2026-06-10 | Townes-Whitley Toni | A-Award | 2,998.00 | $0.00 | $0 |
| 2026-06-10 | ARNOLDI MELISSA | A-Award | 4,324.00 | $0.00 | $0 |
| 2026-06-10 | SPLINTER MICHAEL R | A-Award | 5,246.00 | $0.00 | $0 |
| 2026-06-10 | Torgeby Johan | A-Award | 2,998.00 | $0.00 | $0 |
| 2026-06-11 | Torgeby Johan | F-InKind | 300.00 | $86.72 | $26,016 |
| 2026-06-10 | Kazim Essa | A-Award | 4,151.00 | $0.00 | $0 |
| 2026-06-11 | Kazim Essa | F-InKind | 622.00 | $86.72 | $53,940 |
| 2026-05-18 | Griggs PC Nelson | S-Sale | 5,093.00 | $92.62 | $471,714 |
| 2026-04-28 | Peterson Bradley J | S-Sale | 7,710.00 | $90.82 | $700,222 |
| 2026-04-27 | Tal Cohen | S-Sale | 15,518.00 | $90.75 | $1.4M |
| 2026-04-24 | Daly Michelle Lynn | S-Sale | 1,194.00 | $88.82 | $106,051 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for NDAQ — it's generated by the pipeline (
market-narrative step).
No community reviews yet for NDAQ.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.398 · dd6a9935 · 2026-07-10 09:48:14