Zacks Investment Research·18h ago
All You Need to Know About Nasdaq (NDAQ) Rating Upgrade to BuyNasdaq (NDAQ) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Nasdaq, Inc.(NDAQ)Earnings, Financials & Key Ratios
NDAQ•NASDAQ
$86.43
28.0× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryFinancial Data & ExchangesSub-IndustryExchanges, Clearing and Trading Venues
AboutNasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This segment operates various exchanges and other marketplace facilities across various asset classes, which include derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides broker, 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.Show more
- EBITDA$2.96B+22.9%
- Net Income$1.79B+60.2%
- EPS (Diluted)3.09+60.1%
- Gross Margin47.93%+18.7%
- EBITDA Margin36.07%+10.7%
- Operating Margin28.36%+16.7%
- Net Margin21.77%+44.2%
- ROE15.27%+50.6%
NDAQ Price & Volume
Nasdaq, Inc. (NDAQ) stock price & volume — 10-year historical chart
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Software Pivot Drives Margin Expansion Amid Leverage
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Strong
Financial:Strained
Cash Flow:Improving
Primary Risk:High acquisition-related leverage
Key Thesis Takeaways
- Nasdaq is successfully transitioning toward a recurring software-centric revenue model, evidenced by gross margins expanding from 44.9% in 2023Q4 to 65.8% in 2026Q1.
- While this shift enhances operational leverage and long-term earnings quality, investors should monitor the $9.4 billion debt burden and the $14.3 billion in goodwill that remain from the Adenza acquisition.
- The firm's ability to balance aggressive share repurchases of $548 million in 2026Q1 with necessary deleveraging will be critical to sustaining its current valuation.
Verdict Logic
while the company demonstrates strong margin expansion to 65.8%, the current ratio of 1.00 and high goodwill concentration warrant caution regarding future financial flexibility.
NDAQ Growth Metrics
Nasdaq, Inc. (NDAQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.22%
5 Years7.88%
3 Years9.69%
TTM-
Profit CAGR
10 Years15.38%
5 Years13.91%
3 Years16.72%
TTM49.69%
EPS CAGR
10 Years14.05%
5 Years10.69%
3 Years10.99%
TTM50.91%
Return on Capital
10 Years10.18%
5 Years10.26%
3 Years9.01%
Last Year10.23%
NDAQ Recent Earnings
Nasdaq, Inc. (NDAQ) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 23, 2026Metric
Actual
Est
EPS
$0.96+3.2%
$0.93
Rev
$1.4B+2.6%
$1.4B
Q1 2026
Jan 29, 2026Metric
Actual
Est
EPS
$0.96+4.1%
$0.92
Rev
$1.4B+1.9%
$1.4B
Q4 2025
Oct 21, 2025Metric
Actual
Est
EPS
$0.88+3.3%
$0.85
Rev
$2.0B+50.2%
$1.3B
Q3 2025
Jul 24, 2025Metric
Actual
Est
EPS
$0.85+4.4%
$0.81
Rev
$2.1B+63.6%
$1.3B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 23, 2026 | $0.96vs $0.93+3.2% | $1.4Bvs $1.4B+2.6% |
| Q1 2026 | Jan 29, 2026 | $0.96vs $0.92+4.1% | $1.4Bvs $1.4B+1.9% |
| Q4 2025 | Oct 21, 2025 | $0.88vs $0.85+3.3% | $2.0Bvs $1.3B+50.2% |
| Q3 2025 | Jul 24, 2025 | $0.85vs $0.81+4.4% | $2.1Bvs $1.3B+63.6% |
Based on last 12 quarters of dataView full earnings history →
Latest NDAQ News
Recent stock market news and headlines for Nasdaq, Inc. (NDAQ)
Proactive Investors·1 day ago
Samsung plunges despite earnings beat, sparking fresh AI stock jitters for Nasdaq namesSamsung Electronics' posted a record quarterly profit on Tuesday but this failed to reassure investors, with the sharp sell-off in the world's largest memory chipmaker expected to weigh on AI and technology stocks when Wall Street opens. The South Korean technology giant announced its earnings guidance, with second-quarter operating profit of about 89.4 trillion won ($59bn/£48bn), comfortably ahead of analyst expectations of around 84.2 trillion won.
GlobeNewsWire·1 day ago
Bleichroeder Acquisition Corp. III Announces the Pricing of $300,000,000 Initial Public OfferingNEW YORK, NY, July 06, 2026 (GLOBE NEWSWIRE) -- Bleichroeder Acquisition Corp. III (the “Company”) announced today the pricing of its initial public offering of 30,000,000 units. The units are expected to be listed on The Nasdaq Stock Global Market (“Nasdaq”) and begin trading tomorrow, July 7, 2026, under the ticker symbol “BCCQU.” Each unit consists of one Class A ordinary share of the Company and one-fourth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “BCCQ” and “BCCQW,” respectively. The offering is expected to close on July 8, 2026, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.
24/7 Wall Street·1 day ago
Ex-Nasdaq CEO Warns SpaceX's ‘Unprecedented' Lockup Expiration Could Flood the Market With $800 Billion in SharesRobert Greifeld, who was NASDAQ's CEO from 2003 to 2017, used a July 6, 2026, CNBC interview to flag what he calls the largest lockup expiration in the history of U.S.
24/7 Wall Street·1 day ago
The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are RippingSK Hynix, the world's second-largest memory-chip maker, is coming to the NASDAQ on Friday with the largest stock sale anyone has priced in years, and the chip complex is already pricing it in.
Peers Comparison
Key metrics vs top competitors for Nasdaq, Inc. (NDAQ)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $86.43 | $49.13B | 27.97 | 11.05% | 21.77% | 15.27% | 1.21% | |
| $136.45 | $77.16B | 23.65 | 7.46% | 29.98% | 13.54% | — | |
| $240.75 | $87.35B | 21.57 | 6.37% | 62.77% | 15.25% | — | |
| $258.64 | $27.07B | 24.82 | 15.13% | 25.77% | 24.63% | — | |
| $118.60 | $4.21B | 17.81 | 3.82% | 35.34% | 24.02% | — | |
| $100.26 | $21.37B | 26.52 | 18.92% | 40.25% | 12.35% | — |
Compare NDAQ vs Peers
Nasdaq, Inc. (NDAQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NDAQ SEC Filings & Documents
Nasdaq, Inc. (NDAQ) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 23, 2026·SEC
Material company update
Jan 29, 2026·SEC
Material company update
Jan 16, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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NDAQ Frequently Asked Questions
Nasdaq, Inc. (NDAQ) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Nasdaq, Inc.'s revenue?
Nasdaq, Inc. (NDAQ) reported $8.27B in revenue for fiscal year 2025.
How fast is Nasdaq, Inc. growing?
Nasdaq, Inc. (NDAQ) grew revenue by 11.1% over the past year. This is steady growth.
Is NDAQ profitable?
Yes, Nasdaq, Inc. (NDAQ) is profitable, generating $1.91B in net income for fiscal year 2025 (21.8% net margin).
Dividend & Returns
Does NDAQ pay dividends?
Yes, Nasdaq, Inc. (NDAQ) pays a dividend with a yield of 1.21%. This makes it attractive for income-focused investors.
What is NDAQ's return on equity?
Nasdaq, Inc. (NDAQ) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.
What is Nasdaq, Inc.'s free cash flow?
Nasdaq, Inc. (NDAQ) generated $2.00B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.