Nasdaq, Inc.
NDAQ · Price history
Price at last available close
$104.36
+$11.74 (+12.68%) 1M
2026-10-27
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Company & revenue
About Nasdaq, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
Nasdaq operates as a global technology company serving the capital markets and other industries. It generates revenue through market services, including trading and clearing, as well as through its solutions businesses, which provide financial technology, data, analytics, and index licensing services to a diverse global client base.
Products & services
Nasdaq provides trading, clearing, exchange technology, regulatory, listing, information, and public company services, alongside financial technology platforms for data, analytics, and index licensing.
Brands & revenue mix
Flagship index tracking the top 100 non-financial companies listed on The Nasdaq Stock Market.
Separate brand revenue is not available in this research.Source
The primary electronic stock exchange operated by the company.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Period ended 2025-12-31Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Cloud and Data Center Service Providers — Nasdaq relies on various third-party technology infrastructure providers for cloud computing and data center services to support its global market operations.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
44
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
79
Strong
Financial Strength
79
Business Quality / Moat
87
Management
89
Growth Quality
39
Risk / Durability
95
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
47
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
54/100
Building Historical Record
Model Score 54/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •M&A headline · Oct 15, 2026
- •Distress / listing headline · Oct 14, 2026
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for NDAQ
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can NDAQ maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is NDAQ's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is NDAQ's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify NDAQ's current valuation?
Essential Investment Snapshot
Wall Street Score
44
Opportunity Score
47
Market Cap
$58.33B
P/E Ratio
26.9
EPS
$3.47
52-Week High
$101.79
52-Week Low
$76.55
Beta
1.00
Intrinsic Value
$96.78
Analyst Target
$111.00
Shares Outstanding
576.5M
Total Revenue
$8.71B
Total Debt
$9.24B
Dividend Yield (TTM)
1.11%
Liquidation Value / Share
$20.80
Dividend / Share (TTM)
$1.16
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NDAQ
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
M&A headline · Oct 15, 2026
Nasdaq Completes Acquisition of LeveL Markets, Advancing its Always-On Vision — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
GlobeNewsWireDistress / listing headline · Oct 14, 2026
RedCloud Receives Expected Nasdaq Staff Delisting Determination and Files Appeal to Preserve Listing Pending Panel Hearing — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
GlobeNewsWireCommunity Sentiment
0 active · 0 total callsNo personal call yet on NDAQ.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Strong brand recognition and market position in global capital markets.
- +Diversified revenue streams across technology and market services.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Financial - Data & Stock Exchanges industry.
- −Intense competition in the financial services and technology sectors.
- −Regulatory changes and compliance requirements in global markets.
- −Cybersecurity threats and operational risks to critical market infrastructure.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
45
Oct 8, 2026
Change
-0.8
points
Current Score
44
Oct 20, 2026
Category Changes
NDAQ decreased 0.8 points because Valuation declined by 3.2 points.
Negative Contributors
- − Valuation declined by 3.2 points
Projected Score
Projected Score
44
Projected Change
+0.6 points
Preliminary comparable-period financial changes suggest improvement of approximately 0.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Near Fair ValueCurrent Price
$104.36
Model Intrinsic Value
$96.78
Difference
+$7.58
+7.8% vs IV
Margin of Safety
-7.8%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.71B | $8.22B | $7.40B | $6.06B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $3.54B | $4.28B | $4.41B | $3.52B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $5.17B | $3.94B | $2.99B | $2.55B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $1.02B | $140.0M | $427.0M | $417.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $2.42B | $1.61B | $1.19B | $968.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $3.19B | $3.13B | $2.46B | $2.00B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $2.75B | $2.33B | $1.80B | $1.58B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $261.0M | $88.0M | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $2.44B | $2.15B | $1.45B | $1.40B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $471.0M | $356.0M | $334.0M | $344.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $1.97B | $1.79B | $1.12B | $1.06B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $3.47 | $3.13 | $1.94 | $2.10 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 564M | 571M | 575M | 508M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 568M | 577M | 579M | 508M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$2.53B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.89
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-4.0%
Cash Change
-29.0%
Margin Change
-1.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Margins contracted
- Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels. Pressure indicators included cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 21.1%. EPS increased 14.1%. Cash declined 29.0%. Total debt declined 4.0%. Net income margin declined by 1.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
41
Smart Money
41
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Financial - Data & Stock ExchangesRumor Mill · NDAQ
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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