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Nasdaq, Inc. (NDAQ)

Nasdaq Financials Financial Exchanges & Data S&P 500
$107.12
+0.29 (+0.27%)
Close of Nov 06, 2026 · end-of-day data
Source: Nasdaq, Inc.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$3.70B$3.95B$4.28B$4.26B$5.62B$5.89B$6.23B$6.06B$7.40B$8.26B
Cost of revenue$1.43B$1.54B$1.75B$1.72B$2.72B$2.47B$2.64B$2.17B$2.75B$3.01B
Gross profit$2.28B$2.41B$2.53B$2.54B$2.90B$3.42B$3.58B$3.90B$4.65B$5.25B
Operating income$836.00M$991.00M$1.03B$1.02B$1.23B$1.44B$1.56B$1.58B$1.80B$2.33B
Interest expense$135.00M$143.00M$150.00M$124.00M$101.00M$125.00M$129.00M$284.00M$414.00M$367.00M
Pre-tax income$133.00M$872.00M$1.06B$1.02B$1.21B$1.53B$1.48B$1.40B$1.45B$2.15B
Income tax$27.00M$143.00M$606.00M$245.00M$279.00M$347.00M$352.00M$344.00M$334.00M$358.00M
Net income$106.00M$729.00M$458.00M$774.00M$933.00M$1.19B$1.12B$1.06B$1.12B$1.79B
EBITDA$924.00M$1.09B$1.13B$1.11B$1.33B$1.55B$1.67B$1.70B$1.92B$2.48B
EPS (basic)$0.64$4.38$2.77$4.69$1.89$2.38$2.28$2.10$1.94$3.12
EPS (diluted)$0.63$4.30$2.73$4.63$1.86$2.35$2.26$2.08$1.93$3.09
Diluted shares168.80M169.59M167.69M166.97M500.71M505.09M497.86M508.39M579.19M578.60M
Gross margin61.4%61.1%59.1%59.5%51.6%58.1%57.5%64.2%62.8%63.5%
Operating margin22.6%25.1%24.0%23.9%21.9%24.5%25.1%26.0%24.3%28.2%
Net margin2.9%18.5%10.7%18.2%16.6%20.2%18.1%17.5%15.1%21.6%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$403.00M$377.00M$545.00M$332.00M$2.75B$393.00M$502.00M$453.00M$592.00M$604.00M
Short-term investments$245.00M$235.00M$268.00M$291.00M—————$28.00M
Receivables$429.00M$356.00M$384.00M$422.00M$566.00M$588.00M$677.00M$929.00M$1.02B$943.00M
Total current assets$4.56B$5.51B$6.37B$4.29B$7.66B$7.42B$8.60B$9.10B$7.79B$8.00B
Goodwill$6.03B$6.59B$6.36B$6.37B$6.85B$8.43B$8.10B$14.11B$13.96B$14.37B
Total assets$13.41B$15.35B$15.70B$13.92B$17.98B$20.11B$20.87B$32.29B$30.39B$31.05B
Total current liabilities$4.08B$5.23B$6.57B$4.23B$4.92B$7.87B$8.84B$9.03B$7.90B$7.96B
Short-term debt$0$480.00M$875.00M$391.00M$0$1.02B$664.00M$291.00M$399.00M$431.00M
Long-term debt$3.60B$3.73B$2.96B$3.00B$5.54B$4.81B$4.74B$10.16B$9.08B$8.57B
Total debt$3.60B$4.21B$3.83B$3.39B$5.54B$5.83B$5.40B$10.45B$9.48B$9.00B
Total liabilities$8.72B$9.47B$10.25B$8.29B$11.54B$13.71B$14.70B$21.47B$19.20B$18.82B
Shareholders' equity$5.43B$5.88B$5.45B$5.64B$6.43B$6.39B$6.15B$10.82B$11.19B$12.23B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$776.00M$909.00M$1.03B$963.00M$1.25B$1.08B$1.71B$1.70B$1.94B$2.25B
Capital expenditures$134.00M$144.00M$111.00M$127.00M$188.00M$163.00M$152.00M$158.00M$207.00M$266.00M
Free cash flow$642.00M$765.00M$917.00M$836.00M$1.06B$920.00M$1.55B$1.54B$1.73B$1.99B
Investing cash flow-$1.66B-$890.00M$196.00M-$414.00M-$122.00M-$2.65B$49.00M-$5.99B-$953.00M-$1.10B
Financing cash flow$948.00M-$53.00M-$1.03B-$2.47B$1.91B$1.42B$1.04B$4.22B-$2.56B-$2.95B
Dividends paid$200.00M$243.00M$280.00M$305.00M$320.00M$350.00M$383.00M$441.00M$541.00M$601.00M
Share buybacks$100.00M$203.00M$394.00M$200.00M$222.00M$468.00M$308.00M$269.00M$145.00M$616.00M
Stock-based compensation$86.00M$70.00M$69.00M$79.00M$87.00M$90.00M$106.00M$122.00M$141.00M$165.00M
Depreciation & amortization$88.00M$96.00M$101.00M$89.00M$99.00M$108.00M$105.00M$117.00M$125.00M$145.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.