Nasdaq, Inc.

Nasdaq, Inc.

NDAQยทNASDAQ

$86.81

-1.3%
Financial ServicesFinancial - Data & Stock Exchanges

Nasdaq, 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.

At a Glance

Live Snapshot
Market Cap$49.09B
EPS3.1300
P/E Ratio27.73
Earnings Date07/23/2026
3Y+32.0%
5Y+80.0%
10Y+212.0%
3Y-2345.0%
5Y+376.0%
10Y-34.0%
3Y-385.0%
5Y-314.0%
10Y-395.0%
NDAQ

Nasdaq, Inc. Cash Conversion Engine

NDAQ ยท NASDAQ
Net Income1.79B
Depreciation & Amortization632.00M
Stock-Based Compensation165.00M
Change in Working Capital-235.00M
Others-142.00M
Capital Expenditures-266.00M
Free Cash Flow1.99B

Cash Flow Quality Analysis

FCF Conversion Rate

111.3%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

11.8%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+14.8%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

-$235.00M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

Nasdaq, Inc. Cash Flow Statement

NDAQ โ€ข NASDAQ

Nasdaq, Inc. Cash Flow StatementDec 2025Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009Dec 2008Dec 2007Dec 2006
OPERATING ACTIVITIES
1.8B
1.1B
1.1B
1.1B
1.2B
933M
774M
458M
734M
108M
427M
413M
384M
349M
383M
389M
263M
319.9M
518.4M
127.9M
632M
613M
323M
258M
278M
202M
190M
210M
188M
170M
138M
137M
122M
104M
109M
103M
104M
92.6M
38.9M
70.9M
48M
-67M
68M
38M
94M
41M
35M
342M
10M
-136M
-14M
-6M
28M
16M
4M
-35M
-10M
-103.1M
-15.6M
13.4M
165M
141M
122M
106M
90M
87M
79M
69M
70M
86M
68M
62M
47M
46M
36M
33M
35M
25.7M
16.7M
9.9M
-142M
91M
87M
13M
-97M
-2M
-67M
-154M
2M
466M
81M
82M
-20M
85M
57M
71M
142M
76.5M
-447.7M
-44.8M
(373M)
(358M)
(254M)
(274M)
(501M)
(290M)
(205M)
(221M)
(154M)
(191M)
(202M)
(190M)
(157M)
(177M)
(129M)
(148M)
(153M)
(266M)
(0.0)
(0.0)
-235M
46M
39M
168M
-469M
-9M
-48M
103M
-103M
-45M
-15M
-1M
13M
-6M
80M
-121M
48M
-3.7M
62.5M
23.8M
2.3B
1.9B
1.7B
1.7B
1.1B
1.3B
963M
1B
909M
722M
685M
687M
574M
594M
669M
440M
582M
407.7M
173.2M
201.1M
INVESTING ACTIVITIES
-266M
-207M
-158M
-152M
-163M
-188M
-127M
-111M
-144M
-134M
-133M
-140M
-115M
-87M
-88M
-42M
-59M
-54.7M
-18.5M
-21M
(0.0)
(0.0)
-5.8B
-41M
-2.2B
-157M
-74M
(185M)
-776M
-1.5B
-256M
(0.0)
-1.1B
-112M
-26M
-190M
(8M)
-3B
-15.1M
-54M
-243M
-206M
-712M
-322M
-316M
-283M
-579M
-421M
-392M
-468M
-384M
-303M
-453M
-301M
-533M
-237M
-623M
-164.6M
-80.4M
-1.8B
427M
199M
719M
320M
285M
424M
554M
543M
424M
411M
348M
298M
500M
372M
501M
351M
621M
15.2M
1.9B
620.5M
-1B
-739M
-77M
244M
-219M
-27M
-14M
0.0
-2M
-6M
-16M
-10M
0.0
0.0
0.0
0.0
0.0
54.3M
55.3M
7.2M
-1.1B
-953M
-6B
(49M)
-2.7B
-231M
-240M
(196M)
-890M
-1.7B
-441M
-155M
-1.2B
-128M
-146M
-118M
-53M
-3.1B
(1.9B)
-1.3B
FINANCING ACTIVITIES
-685M
-145M
-269M
-633M
-943M
-222M
-163M
-394M
-203M
-100M
-377M
-178M
-10M
-275M
-90M
-791M
8M
8M
16.8M
894.5M
-826M
-812M
5B
-318M
442M
1.9B
-419M
-320M
420M
1.3B
137M
-235M
606M
-145M
-248M
193M
-340M
2B
-1.1B
310.8M
-601M
-541M
-441M
-383M
-350M
-320M
-305M
-280M
-243M
-200M
-149M
-98M
-87M
-65M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-105.1M
-616M
-145M
-269M
-633M
-943M
-222M
-200M
-394M
-203M
-100M
-377M
-178M
-10M
-278M
-100M
-797M
(0.0)
(0.0)
(0.0)
-105.1M
-841M
-1.1B
25M
2.4B
2.3B
17M
-50M
-50M
-27M
13M
27M
26M
50M
3M
13M
3M
-4M
26.9M
16.2M
129.8M
-3B
-2.6B
4.2B
1B
1.4B
1.4B
-937M
-1B
-53M
1B
-362M
-485M
547M
-485M
-325M
-595M
-336M
2B
-1B
1.2B
CASH FLOW SUMMARY
726M
-537M
202M
-1.3B
-331M
16M
-10M
-10M
15M
-6M
-8M
-18M
-4M
10M
-7M
-6M
27M
-47.5M
0.0
0.0
-1.1B
-2.1B
124M
1.5B
-483M
2.4B
-224M
187M
-19M
61M
-126M
29M
-72M
-9M
191M
-279M
220M
-759.6M
1B
156.8M
5B
7.1B
7B
5.5B
6B
362M
586M
399M
418M
357M
427M
398M
497M
506M
315M
594M
374M
1.3B
322M
165.2M
3.9B
5B
7.1B
7B
5.5B
2.8B
362M
586M
399M
418M
301M
427M
425M
497M
506M
315M
594M
565.8M
1.3B
322M
2B
1.7B
1.5B
1.6B
920M
1.1B
836M
917M
765M
588M
552M
547M
459M
507M
581M
398M
523M
353M
154.7M
180M

SEC Filings

NDAQ - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
DEF 14A

DEF 14A 2026

N/A

April 24, 2026
June 10, 2026
2026
10-Q

10-Q 2026 Q1

Q1

April 24, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

April 23, 2026
April 23, 2026
2026
10-K

10-K 2025 FY

FY

February 12, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

January 29, 2026
January 29, 2026
2026
8-K

8-K 2026

N/A

January 16, 2026
January 14, 2026
2026
8-K

8-K 2025

N/A

December 15, 2025
December 15, 2025
2025
8-K

8-K 2025

N/A

December 01, 2025
December 01, 2025
2025
10-Q

10-Q 2025 Q3

Q3

October 23, 2025
September 30, 2025
2025
8-K

8-K 2025

N/A

October 21, 2025
October 21, 2025
2025
Showing 1 to 10 of 482 filings